Palum
what Suineg set it to
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Personally I think the only way this works is either slum lord it (multi-fam houses, multi-unit buildings, etc.) or go nuts and make it a full time job.
Most of the people I know who make money basically slum lord it. The ones who don't are largely just in it to gain equity and leverage unused credit to increase their retirement nest. I know several people who lived their life as primary +1 mortgage + renters in all prop owned outright. Market conditions, maintenance, loss of tenancy and the like means that part time you will be lucky to break even with expenses. Now, don't get me wrong for INVESTMENT that's actually a killer deal. But it isn't a path to consistent income unless you put so much in assets into it to begin with that the hassle makes no sense.
The commercial side is so much more chaotic. A good location with good tenants I'm sure could be worth a lot but the wrong areas are just sooo bad on commercial. Housing is always in demand (even if it goes up and down) while shitty commercial space is just worthless because it has to provide specific value to a business.
Most of the people I know who make money basically slum lord it. The ones who don't are largely just in it to gain equity and leverage unused credit to increase their retirement nest. I know several people who lived their life as primary +1 mortgage + renters in all prop owned outright. Market conditions, maintenance, loss of tenancy and the like means that part time you will be lucky to break even with expenses. Now, don't get me wrong for INVESTMENT that's actually a killer deal. But it isn't a path to consistent income unless you put so much in assets into it to begin with that the hassle makes no sense.
The commercial side is so much more chaotic. A good location with good tenants I'm sure could be worth a lot but the wrong areas are just sooo bad on commercial. Housing is always in demand (even if it goes up and down) while shitty commercial space is just worthless because it has to provide specific value to a business.