Bought three rentals in the past 13 months

>bought three rentals in the past 13 months
>1 duplex ($67k)
>1 house I am closing on in 2 weeks ($25k)
>only have one apartment of the duplex rented
>bottom floor still needs renovation (about $5k)
>house I just bought needs renovation (about $7k)

Why are people still renting in 2018? It seems so fucking insane, that even these low priced houses I can rent for more than a mortgage on them would cost. Is renting the closest thing to passive income you can get?

>inb4 upkeep/bad renters/taxes

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A Chinese man accused of being a ‘landlord’ facing a People’s Tribunal just before being executed, Guangdong, China, July 1952

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Where the fuck do you live?

Cousinfuckville, Kentucky

Makes sense, those prices are so fucking cheap

>this is your brain on communism

Jokes on them, they all starved to death over the next few years.

>Why are people still renting in 2018?
Why don’t the poor just like stop being poor?

Eastern or Western?

Why doesn't everyone wealthy buy little huts in the mountains for cash and then have hillbilly property managers take care of them for them...

Upkeep, bad renters and taxes.

Yea but heres the thing, my total income is just shy of 100k a year and I live like a fucking king thanks to the fact the area is so poor. I own 300 acres, go on 3 international vacations a year and my wife doesnt work lol.

Taxes are fairly low in my area, not to mention since I am already self employed I have ample opportunity to get tax breaks.

I'm considering slumlord meme.
But in my area no one is selling.
Closest properties are 100km away.
Return is 6-13%, 6 being the median, higher return is in bumfucknowhere area where people probably won't even live in the next 30 years.
This seems to be meme like dropshipping.

I own 4 condos.
$8k/ month rentz.
Neet 4lyf

>why are people renting?
>lives in kentucky

This is your answer. I would fucking kill myself if I didn't live in a fun city with plenty of things to do. What's the point of living in a nowhere town? Nothing changes and you do the same shit every day. No good food or events. Fewer job opportunities. People who share my sentiments live in cities, but that duplex you bought for 67k costs well over 400-800k there (depending on your city). I actually do own my house in my city (Portland), but I would much rather rent in Portland than buy in kentucky, or texas, or mississippi, or whatever.

Where are you? I am in Rural NC and the duplex is located in a small town with a population of ~2k and the house is in a town with a population of ~1.5k. Both are within 15 minutes of my house. Unless you live in a huge city, I feel like its doable for almost anyone.

>shooting guns
>pissing off the front porch
>have farm animals
>go hiking on personal land
>ATV's for days
>bonfires for days
>hunting

Oh yea I am sorry, your boutique coffve shop and junkies sounds so much better.

Central europe.
3 flats, 1.4k /month, cost 180k, city of 240k
4 flats, 0.7 k/month, cost 80k, city of 20k

whereas the "jew" in my area asks 530k in the town of 30k pop, and none of the 5 flats are even rented out, he claims 6% ROI p.a.

Vacancies user. My landlord’s condo had been sitting on the market for 2 months before I started renting it. I just let the lease expire and moved back in with parents. Now it’s been vacant for the past month. There are no guarantees you’ll be able to rent it out, or rent it for prices that cover your mortgage.

In the small town my duplex is in I see the same thing, one man owns about 40% of the office/business space downtown and not a single one of his places are rented because hes asking almost double what it should be.

We just have different interests man, none of your hobbies sound like fun to me. In portland I:

>attend swap meets with gaming homies
>go to cooking classes hosted by extremely talented chefs
>conventions for tea, able to taste extremely rare varieties (tea is a big hobby of mine)
>great hiking in densely wooded areas minutes from city center
>try a new restaurant with the gf every weekend, all memorable
>great public transit
>great beer
>nonstop concerts from bands I actually like
>local communities for every hobby under the sun, going to a gundam building event this weekend

We're into different stuff I guess. Personally farm animals just seem like a huge burden, guns are neat but I don't understand the hobby appeal (only the self defense appeal), and I'd rather hang out at a smokey dive downtown playing pool than at a bonfire.

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based chinamen

wtf only hiking is okay, otherwise pure onions

lel if we hung out we might get along. We both browse Jow Forums at least, but you've got to stop assuming shit about someone's character just because they don't subscribe to the same list of interests as you.

>Portland
basically san francisco lite. literally half of the people there are NPCs who outwardly display "muh feminism" and "orange man bad" complexes. do your other hobbies include getting cucked faggot?

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I ws in a position to buy a house last year, but me figures we're at the top of the market cycle and housing prices are inflated as fuck.

I'm banking on people like you holding bitcoin style bags in a year or two. hope you paid cash for your house because if you mortgaged them you'll be underwater and paying 3x the market rate.

>lel if we hung out we might get along. We both browse Jow Forums at least
no that's where the common interests die. you willingly live in Portland. enough said.

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How did I know OP was from Kentucky? It was just a guess lmao

im in NC.

Yeah Ha ha... the joke... is.. on.. them.
Hummmmmmmm.............
China looks like a more powerful 1950's USA at the moment.

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>5 times the population
>barely beating the US

Man china seems like a utopia.

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I am with this guy. I make 200k a year, live in a small shit town. Nice 3 bedroom in a nice neighborhood is 125k. I still dont buy because shit is gonna dump hard soon. If you do have a mortgage I hope you were smart enough to get a fixed rate on it.

I will unironically hang out with you in my city and we'll have fun man. Have you ever been here?

动态网自由门 天安門 天安门 法輪功 李洪志 Free Tibet 六四天安門事件 The Tiananmen Square protests of 1989 天安門大屠殺 The Tiananmen Square Massacre 反右派鬥爭 The Anti-Rightist Struggle 大躍進政策 The Great Leap Forward 文化大革命 The Great Proletarian Cultural Revolution 人權 Human Rights 民運 Democratization 自由 Freedom 獨立 Independence 多黨制 Multi-party system 台灣 臺灣 Taiwan Formosa 中華民國 Republic of China 西藏 土伯特 唐古特 Tibet 達賴喇嘛 Dalai Lama 法輪功 Falun Dafa 新疆維吾爾自治區 The Xinjiang Uyghur Autonomous Region 諾貝爾和平獎 Nobel Peace Prize 劉暁波 Liu Xiaobo 民主 言論 思想 反共 反革命 抗議 運動 騷亂 暴亂 騷擾 擾亂 抗暴 平反 維權 示威游行 李洪志 法輪大法 大法弟子 強制斷種 強制堕胎 民族淨化 人體實驗 肅清 胡耀邦 趙紫陽 魏京生 王丹 還政於民 和平演變 激流中國 北京之春 大紀元時報 九評論共産黨 獨裁 專制 壓制 統一 監視 鎮壓 迫害 侵略 掠奪 破壞 拷問 屠殺 活摘器官 誘拐 買賣人口 遊進 走私 毒品 賣淫 春畫 賭博 六合彩 天安門 天安门 法輪功 李洪志 Free Tibet 劉曉波动态网自由门

you can also come visit me, and I'll change your mind. I'm being serious dude, you need to leave your bubble and actually talk to the people you only think you know. Why are you letting people on the internet think for you? Go out and learn for yourself.

you both sound incredibly boring people, but at least he's more of a man than you
seriously dude what the fuck, half of your "hobbies" are about eating or drinking something and ALL of your hobbies are about consuming. i'd go mental if i had to live a month in your shoes, and i'm a city dweller

>7k - 67k

here that is literally the price range of small rooms purpose built for shitting in.

Eat so you can learn about the people and places the food comes from. Food=culture. Tea=history. They're all ways to learn something.

And what is a man? At the very least a man should decide who and what he wants to be, and it's his decision. The basedboy meme just lets others think for you, do you ask the internet if it's ok to like something before you take part?

I saw it coming with the NPCs I worked with. A new manager transferred in 2016. Bought a house for $100K. He was bragging that he sold it a year later for $200k. No fundamentals had changed. No new hospitals were built, no roads added, no new shopping centers were built. Another guy dumped his house and upgraded and pocket a years salary on the deal. There's no fundamental reason his house went up in value, it's pure speculative bullshit brought on by QE. Fucking house flipping ads on the radio, everybody is dumping bags and buying bigger ones. I saw it live in 2007 and this looks exactly the same.

flipping =/= renting

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Dude you sound like a normie. Please tell me you own 0 crypto. If people like you are still here. That means we have a lot more low to go.

why upkeep when i can keep renting and moving around?

fuck planting roots and fuck a mortgage

This has to be b8