Property values can decline, the property itself can be damaged or destroyed. The risk of taking on the loan is born by the borrower.

Perhaps the author is educated on other subjects, I don't know. But he clearly has no idea what he's talking about, and hasn't bothered to give it any serious thought.

The rental business is rough, and your money would often be better off in the market, but if you see a good opportunity or you want to diversify your income then go for it, I wouldn't let nonexistent moral concerns stand in your way.

This post was edited by bogie160 on Dec 23 2020 02:07pm

individual landlords can be easy to work with if youre a decent tenant ie: pay your rent on time and dont live a pigsty. i have little issue with these folks, even if they have multiple properties. it is expensive having a property! even if you rent it out you need a place to sleep yourself etc.

Otho massive corporations that swoop in and buy a city block and rent at obscene levels and increases are another story.

my first small apartment after undergrad the guy had to boot his prior two tenants for nonpayment, trashing stuff etc. i paid my rent 1 day early each month and called him maybe 3 times in 4 years to fix minor things. he never raised the rent once. of course not all landlords are this chill and not all tenants were like me (i used the place for necessities basically, sleep eat shower, and was out at work or out and about most of the time) but whatever.

when i moved into the city i landed in a spot owned by some massive conglomerate thing that basically had a monopoly in that area. the rents always went up at the max % they were allowed to do and id have to fight each renewal.

My experiences with land lords or property management has been good when the owning entity is smaller. For example, rented once at 'Woods of Burnsville MN', HUGE mistake, just read their reviews for laughs. My most recent was renting a plot of land for my THOW from a farmer/rancher. Best experience ever, guy even moved my THOW to my new property, helps me fix my boat and shit.

Anyways, point is I've had better experiences working with small time land lords vs 'property management'. Hell, the last guy even waived a month rent when COVID shit hit the fan without any gov mandate.

yeah i agree. these tend to be more interpersonal ‘business’ relationships thus offering more room for acting like human beings

property management has huge overhead, so they have to nickel and dime the entire way. part of the business model etc.

Just listened to the playlist and yeah, I agree with most of it.

The way we have society now is fraught with inefficiency because it relies on terrible hierarchy, and we should get rid of most of it. I think the idea that hierarchy should be abolished unless it is justified is like, tautologically correct. My boss absolutely has a reason to be above me. He has more expertise, writes the grants, etc. etc. However there's not really a reason for his boss to be above him. His boss is just an administrator who hasn't seen a patient in tens of years or done research in about as long. Similarly there's no reason why Jeff Bezos should have as much ownership of Amazon as he does. If he died tomorrow the company would continue as though nothing happened, same with Elon Musk, Bill Gates, or any billionaire. They deserve to be rewarded for doing things, but the idea that they have a justified hierarchy over their average worker because they are an "owner" is pretty ridiculous. They set the ball in motion, but at a certain point they become basically irrelevant.

So... I'd say I'm "anarchy-lite", in that the fundamentals are obviously correct, but the actual implementation and organization of such a modern society would be difficult and I can't say how best to do that.

This post was edited by Thor123422 on Dec 24 2020 02:51pm

If there is no benefit to invest, why should anyone invest?

just rent without furniture included?
in germany, you will rarely ever find an apartment that's furnished, same in canada.
you get empty place that you can decorate the way you like, but if you trash anything, it's gonna be ur own things.^^

Late to the party, but I'll toss my two cents in on the original...Landlording isn't immoral or wrong. You're investing in property, and ultimately providing those who are unable to purchase a home, or who need a temporary place to live, a place to live. Now depending on how you decide to landlord, that's where morals come into play.

Select tenants in a non-biased way, using financials and history. If you believe in giving people second chances, maybe ask why they might have a certain sort of ding on the report or whatever. Take care of your tenants, and they'll take care of you. The best thing a renter, myself being one now, is kindness and honesty.

Be cautious about putting all of your capital into a rental, a lot of times people are less careful because the stuff (appliances, etc) are not "theirs" and they won't care as much what happens to them. I've worked both in property maintenance, and been a renter for years.

Even if you rent without appliances or furniture, there are still things like doors, walls, cabinets, heaters/air conditioners, windows, floors, ceilings, etc. etc. Some renters, when evicted for non rent will start tearing down doors, breaking windows, cabinets, toilets, sinks, showers, putting holes in walls and ceilings, ripping up or burning carpets, gouging tile/hardwood/linoleum, etc. They're the nightmare tenant. Incredibly rare, but they can cause 30-40K worth of damage before they finally get out. I believe this is the kind of renter he's referring to.

Furnished apartments are annoying and relatively uncommon in the US. Most are unfurnished, but do include appliances such as stove and fridge. But things like beds, couches, chairs, tables, etc.? That's more of a hotel thing.

yeah you're right.
here in ireland they're charging more than an average monthly wage for a 2 bedroom apartment in a 20k ppl town.
if you live in Dublin, you're looking into paying 2 weeks of your wages for a room in an apartment shared with 3-4 random people you don't even know.
massive housing crisis and landlors are just pumping prices up.

house I'm living in atm while saving for a house (hopefully will have it in 5 years time without any debts) is a €1450 house in which furniture wasn't changed in at least 6-7 years, and house itself is from 1980's.
When moving in, I asked landlord to get rid of couches and beds cos I'd rather buy my own than use that shit.
All doors and windows were so bad that wind was blowing in through them. Just sad situation in the whole country

https://www.daft.ie/for-rent/house-butterstream-clane-co-kildare/2611214
it's just tragic when you look at what you get for what you pay