One reason... ok.... I can show you tons of condos that cost between $150K and $200K that the monthly HOA fee is $400 plus/month. If you can't cut the the grass and sock away enough money to cover a furnace/ac, or worst case a complete roof once every 30 years.... to the tune of $4800/year saved... as I said... buy all the condos you can. You talk about "no maintenance"... who do you thinks pays for the AC when it goes out, assuming you're not on a chiller system.... who pays for the hot water heater? Who pays for the carpet, the paint, the appliance upgrades.... to which I might add... add zero return. You can buy a pos house in a nice area, put in granite countertops, stainless steel appliances, some hardwood floors.... and reap huge rewards on the return when you go to sell. You can't do that in a condo.... they sell in a channel. I don't give a f if you put in Trump autographed gold plated toilets... you only get back the prevailing sales price of those condos. If you knew anything about the business you would know how banks and appraisals work now. They don't give a f. If every condo in a complex is selling for $250K.... good luck finding a potential buyer that will get financed for $280K. It ain't happenin ace. And this whole electrician thing.... BFD. How many homes have you built from the ground up. I can wire a f'ing house and I never worked a day as an electrician. I don't have to, its easy.
Bingo. And you can allow the tenants to a own a German Shepard if you so chose. Or any other gd thing you feel like.
And I certainly do not mean to demean a fine, hard-working, profession. That's not my intention. And I apologize in advance for that. That came out wrong.
you don't lose ownership of a rental property though? why lose on depreciation deductions & appreciation/equity of an asset you can borrow against?
I've done a couple of wiring jobs on 240V, and they scare the shit out of me. I think it has to do with the outlets and plugs, while thinking of Tripods from Mr. Wells. (I can't imagine what the 480V jobs are like)...
Pfff. 10/3 Romex, a 2 pole breaker with one leg on each side of your panel, your neutral, your ground. and pull the meter if you plan on standing in water.
A recession will hurt home prices. People wont feel secure about their jobs and income, its also psychological. The more you read about a recession and falling markets, the more you worry. Mortgage applications will drop despite low rates. However, people will refinance.
He's got it in his head that supply chain disruptions absolutely, positively can't cause global economic issues because no recession in the past has been caused by a supply chain disruption. And he insists on believing that the death rate is what matters because something like this can only really be bad if it's like the bubonic plague (his example not mine) and kills a significant percentage of the world's population. But he's an expert at macro, gleaned from building spec houses apparently and by his own admission he doesn't actually trade. Bizzare that he decided to suddenly grace us all with his infinite wisdom