Real estate stands as a cornerstone of wealth generation, and as 19th-century British philosopher and economist John Stuart Mill once, said, ”Landlords grow rich in their sleep.”
Landlords don’t merely collect rental income; they also reap the rewards of property value appreciation.
While it’s nice to collect monthly rental income from an investment property, being a landlord does come with hassles.
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For instance, you must carefully screen potential tenants, prepare lease agreements and ensure that rent is paid on time. Chasing lease payments and dealing with delinquent tenants is never fun.
Landlords are responsible for the maintenance and upkeep of their properties, which can require frequent repairs and updates. They also must secure proper insurance coverage for their properties and pay property taxes, which can require ongoing attention.
All of this can make supposedly passive income a lot less passive — and that’s if you can put together a hefty down payment, get a…
2023-09-30 12:26:18
Article from finance.yahoo.com
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