Quote from blah12345678:
Having been a Section 8 landlord, I can tell you that the quickest way to get out of the real estate business and seek greener pastures is to rent Section 8.
Yes, the rent gets paid, but at the end of the year, all your supposed "earnings" go back to fix up the house for another loser that trashes it.
If you're itching to get into real estate, flip good houses in good neighborhoods (you won't be able to rent them because the rent will be lower than the mortgage - if you can get one), or go commercial (apts or strip malls,etc) in good neighborhoods in the growth path.
Otherwise, real estate isn't worth it. Especially since the '60s, real estate has merely stayed even with inflation. You don't get rich owning real estate. You just have the illusion of becoming wealthy.
it might be good for those people that are really good with construction/repairs.. I knew a couple that just loved that stuff, loved living in a construction zone all the time. They bought houses, lived in them during the fixup phase and sold them. They made their living, I wasn't privy to how much, but do the math.. if they can do that a few times a year they are rolling in the dough in the good parts of the real estate cycle...
lmao...