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17059065 No.17059065 [Reply] [Original]

Redpill me on being a small-time landlord (ie, buying and renting out residential property). How badly will I fuck my shit up trying to go this route?

>> No.17059467

don't rent to minorities

>> No.17059686

Bump.

>> No.17059721

>>17059065
just make sure you buy houses that have potential to go up in value and you will be fine. buy wherever the young people are moving in your city

>> No.17060649
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17060649

>>17059467
>Sip
fpbp

>>17059065
You have options when it comes to how much time you want to put into it. You'll need to have bullet proof lease drawn up. You can bring on a management company to handle the administrative bs (leasing, maintenance, etc.) for you, for a healthy cut of the rental income. Or, you can cut the middle man out and handle all of that shit yourself.

>> No.17060763

>>17059467
Unless you plan on renting out to Section 8 renters.
Sometimes there are good money to be made renting out cheap shitty houses to poor minorities on welfare.

>> No.17060769

>>17059065
Crusaders will come.

>> No.17060791

>>17060763
Do yourself a favor and do not rent to section 8... I'm serious, this isn't a race thing or a class thing, those people are fucking animals, wayyyyy more risk for what reward? Consistency of a check? You get the same consistency if you rent to someone with a sturdy job and a family

>> No.17060796

>>17059065
I feel like real estate is the biggest meme. The amount of people trying to convince me that becoming a landlord is a great life seem idealistic at best.

First youll be lucky if you make money on your investment after 10 years, Youve got to deal with literal trash tenants that will pay you late and ruin your property. Also if you rely on mortgages youre litterally going to be the banks bitch. Youll be raped by interest rates and if you find yourself in a tough spot, theyll take your shit and sell it to an other loser.

Tbh id rather invest than that, but im just a dumbass with too much free time.

>> No.17060798

>>17060763
Fuck that man. You are dealing with frequent police visits, prostitution, and your property value plummeting. Completely retarded.

>> No.17060831

>>17059065
-Debt is cheap right now so being profitable is pretty easy unless you have trash credit.
-Don't sell unless you get stupid price appreciation or really need the cash. Renting long term will usually net you way more money lifetime.
-Don't fuck around with foreclosures unless you know about construction or rehabbing. Those houses are cheap for a reason and if it was easy money everybody would be doing it.
-Go ahead and pull out your property taxes and insurance money every month so you don't get caught with your pants down.
-When I start a new rental I store the first 4-6 months profit in a separate account to fix anything that needs fixing.
-Don't provide a washer/dryer. They always break and you'll be fixing that fucker on your dime.
-Feelz real good once you get two or three and are making close to what you make in your salary/wage cuck job. Makes you give way fewer fucks about impressing the boss/getting a raise/promotion. Changed my life.

>> No.17060842

>>17060831
Forgot to second don't rent to non-whites. It's a funny joke but really don't. I'm not joking. Fuck niggers. They'll burn you every tine

>> No.17060867

As with all property, the three Ls are what's important.
If you're renting out duplexes in a nice suburb, you'll do fine.
If you're renting an apartment building in the city, goodluck. I hope you have a lot of time on your hands.

>> No.17060884
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17060884

>>17060831
>Don't provide washer/dryer.
Every appliance is covered in my lease except for the stacked washer/dryer. Having to pay over $300 to fix. Damn you and your boomer pragmatism!

t. rent cuck

>> No.17061006

>>17060649
10% for management, right? I can eat that if it means keeping my free time.

>> No.17061151

>>17060884
That's why I don't supply them. If you are my tenant and it breaks I feel obligated to help you fix it because I'm a nice dude.
I try to be a fair renter like a proper white man should; not a kike slumlord. I give my tenants a very fair price and rarely go up in price unless it's breaking my ass.

>> No.17061841
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17061841

>>17061006
Varies, 8-12% (((plus expenses))), some charge flat monthly fees.

>> No.17061869

>>17060831
Do you have any background in contracting? It seems like the only easy way to rent property is to have some kind inside deal with a contractor, like owning your own.

>> No.17061939

>>17061869
I do not. I'm an engineer in muh day job. I am friends with some HVAC, carpentry and tree removal people though. It's a good idea to beuild a relationship with these people to get fren pricing. I do my own painting, landscaping as simple plumbing work though. If it's serious plumbing or roofing I'm just SOL and will have to pay normal pricing.
I'm in the south which is an easy market though. I don't think I'd make it in a more urban environment. I'm in the southbin a major college town which is rental income easy mode. I can be real sloppy with costs and still make money.