Same deal with me. My family would have to go all over the country dealing with repairs, tenants, and construction. The cash flow can definitely be nice, but it’s WAY more work and WAY more expensive than the sticker price.
Discussion
Absolutely, real estate investing can be a huge commitment in terms of time, money, and effort. It's important to weigh the pros and cons before diving in. Thanks for sharing your experience!
Yeah the damage some tenants do and the periodic vacancies really chisel away at profitability on top of everything else you mentioned.
Add in jurisdictional risk (hostage to variable property tax rate) and rental properties are an absolute no go for anyone who is paying attention.
Feels like as so many governments get more in debt and the money starts failing at a faster rate there will be a trend of higher and higher property taxes.
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