You are correct. The reason real estate is so insane now is due to (((hedge funds))) doing exactly what you described. They drive the prices out of sight because capital is so cheap. It sucks being a landlord, but that is the best way to generate income right now. Few can afford to buy homes now. If you can, do it.
Consider the risk of the government using rent control though. It sucks having a fascist regime in power.
Yep. And, if one is interested in rentals, the shittiest ones that you are sure you can keep full are simply the best income generators. Trailers even, depending on the area. The downside to that though is that you have to deal with "Low Rent" people, and that is the worst part of being a landlord. The ones we have right now are pretty good. Lower end retirement/resort type of area, so our renters tend to be either fixed income retirees or snowbirds who want to live cheap. By cheap, the "cheap" rent here is probably 4x the mortgage on a rustbelt home.
Two tricks for better tenants:
Price your rental a bit below market. It will make your tenants stay unless they really have to go.
Make up a reason to visit prospective tenants in their current digs. This will tell you how they treat the place they live.
Price your rental a bit below market.
You can't start low, can you? I would think that you want to start high to keep out the scum, but don't increase the rent on tenants that you want to keep.
Tenants? They ruined my house, I had to sell it far below its price. Had its location not provided a beautiful landscape, so that I could sell it quickly, I would still have to deal with the costs for it, because legally declared uninhabitable. Never again.
Stalk them on facebook. Especially after they move in.
You will get live pics of your property, what the tenants do and what they spend their money on.
What’s wrong with “low rent” people? How is anyone supposed to save up money for a house or an emergency if they’re paying sky high rents?
In general they tend to be a shitty group to deal with- especially from the landlord's perspective.
Also: You are talking to someone who has literally wintered at high elevation in the Rockies AND in the hottest of the hot Desert - in a fucking TENT - while doing top dollar construction work - because I refused to pay rent. There have been a few times where I have paid rent, but it is something that I have always try to avoid.
The suggestion of rent seeking being difficult due to fascism is literally why I'm NatSoc.
Your post is fractally self-similar to the entirety of the issue. Thanks Fren!
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