Why do people on this board complain about landlords? why are landlords so hated...

why do people on this board complain about landlords? why are landlords so hated? why dont you just become a landlord yourself...

You only need like $30k to start. It's a years savings.

$30k to buy a $200k house. Charge $2000 rent a month. After 1 year, it's $24k. then subtract mortgage after two years you can buy another house and keep on repeating. The growth is exponential. In 10 years, you can retire off of $30k. Why don't more people do this holy shit.

>inb4 muh real estate bubble
pic related. Look at the "crash" of 2008. It's nothing. And that was the worst housing crisis in American history since like 1929.

Attached: Screenshot 2019-03-19 at 17.41.35.png (1784x884, 547K)

The only argument i can see is, if someone goes for a higher yearly ROI / yield with other financial assets.

which makes sense if you have less than $30k. Then it's understandable. So for example with only $3k it's fairly reasonable to go into crypto and try and 10x your stack to get a bankroll going.

But with real estate it's exponential growth. You can always diversify profits into higher risk stuff after the first two years when you make your initial deposit back.

Tbh I made this thread just to see what's wrong with this idea. I'm 18yo now so in 12 years, I can retire if i do this. Just checking to see if i'm missing something

Only takes one cunt of a renter to screw your plan.
there are also fees, maintenance, repairs.

What you should do is become a slum landlord
>buy house outright
>rent to drug dealers / scum
>stack the cash
>buy another outright
>do this until you own most of the property in the area
>community rejuvenation project
>turf scum out
>renovate houses
> sell all at triple price

This cycle can be achieved within 10 years

I'm a landlord too and I think it's great. But there are some reasons why some people *shouldn't* do it, mainly because it's a more complicated investment than most securities and so it's easy to do it incorrectly.

Still, landlord hate will always be a thing, mainly because housing is everyone's biggest expense and so there's resentment there.

No 200k house rents for 2k a month lol that's a 12% ROI and ask any landlord, nobody gets that. Try closer to 1k rent or 350-400k property value for 2k. In my city to be able to charge 2k rent per month your property must be worth at least 500k

>No 200k house rents for 2k a month lol that's a 12% ROI and ask any landlord, nobody gets that.
Actually you'd be surprised. But it is easier to find 2 100k homes that rent for 1000 a month per door. Property price scales up faster than rents do

these tenants sound a lot like they won't pay back in time though. undoubtedly higher risk.
>turf scum out
how? increasing rents?

can you share your experience on getting started?

>Typically, the rents that landlords charge fall between 0.8% and 1.1% of the home's value. For example, for a home valued at $250,000, a landlord could charge between $2,000 and $2,750 each month.

this is just figures i got from research. Wy is it lower in your area?

Theyll pay and even if they dont you dont have any risk unlike in your scenario. You just go to court & get them to remove them.
To turf them out just put in the contract that the properties are due to be redeveloped and that they get 2 months notice to go before redevelopment starts

Well, there's not that much to it really. I saved up my cash, found a realtor that was familiar with numbers, and bought my first rental. The realtor then found my first tenant for a fee, I signed them up, and I was done.

Of course, I was online and learned a lot about how the numbers should look. (You are correct, btw, about the rent being about 1% of the purchase price, it's a good rule of thumb).

I also did some light rehab on my first few properties to "save money on labor" (mostly because I didn't have any more, lol), but looking back on it, it was false economy. Paying for rehab costs get you on the market sooner and get the asset generating cash.

You're not missing anything, except the possibility of retiring in 1 year instead of 12.

This kids' f genus.
>nitwit old loser here

In what world does a 200k apartment rent for 2k. I rent out 2 houses and 1 apaetment and they all go for 900-1300 and for the apartment i had to deal with a tenant not paying rent for 3 months and kicking them out legally took another 2-3 months thats 6 months without rent and if you find a long term tenant like i did for my two houses you dont increase their rent yearly 10% cause youd rather take lower rent and not have to take a chance on getting a new shitty tenant that'll fuck you over

>Why don't more people do this holy shit

Because it's risky, and you are assuming 100% tenancy.

Being a landlord means you are responsible for everything that goes on with the property. The amount of bullshit tenants will demand from you will blow your mind.

You also have the problem of late payments and evictions. Its not a walk in the park, and every moment you are basically praying that these weird fucks living in the place you own don't burn it down. Its a headache and it makes you hate people.

Start with a condo or townhouse. Stick to apartments if you can.

>(((landlords)))

>could have bought a big student house with my crypto gains
>still young so could probably fugg some hot bitches when they find out I actually own the place

shit boys it could have been so great

this, renting is peak jewry and one of their favourite shekel generators
>buy property in good location
>put low tier subhumans in it
>land value drops
>buy more
>make it difficult for tennants
>renovate and rent to rich goyim or other jews

>making profit is bad
maybe you guys are on the wrong board.

gas yourself moshe

Ok guys I've done some more research.

Here in the UK yields are ~5% per year. not as good as what i first saw.
You can get a loan at 95% LTV for 2.89% and then 4.19% interest after the first two years. 25 year repayment is around £16k a year cost for a £400k home.

And on a £400k home, will be earning £20k a year.
So after 5 years you can buy a new property and repeat.

Of course this doesn't take into account that properties will most likely increase in value, rents will also increase, there are variables like fires or some shit fucking everything up, bad tenants etc.

Overall this sounds not so great desu. But I was talking to my dad who owns a very large company and he says the bank gives him 100% loans. Means he doesn't even have to pay a fucking deposit. The bank even loans 100% for renovating the place because all the other properties he owns in his business act as collateral + the fact that he has pretty much proven the money can be earned back safely.

So it means once you get big enough, it get's far easier.
Has anyone got any book recommendations learning more about this shit?

>And on a £400k home, will be earning £20k a year.
mean minus cost it will be £4k a year (£20k from rent - £16k for mortgage) not £20k my bad

And then you get taxed

Nice trips. Sounds like the UK isn't very landlord friendly. I'd try the US instead, the numbers can make sense here.

As for books, just get onto biggerpockets.com

>why do people on this board complain about landlords?
Cause I'm jealous of how much they make from me.

>why are landlords so hated?
Jealous of their $$$ and business.

>why dont you just become a landlord yourself...
Too much work. I'm a millenial. Enjoying the YOLO lifestyle in my mom's garage.

That's just how it is in my area. Even Zillow set these prices automatically, when you move the slider for sale price the rent loves with it. To get 2k rent the for sale value goes up to 520k. Now this is by no means a rule, but a good approximation. In my area it would be impossible to rent a property worth let's say 300k for 2k a month

Attached: Screenshot_20190319-162121_Zillow.jpg (1440x2960, 1003K)

Managing renters is shit, the reason rent is so expensive is because renters are awful. You've gotta clean up after their mess, deal with non-English speakers...

It's a huge pain. Just buy shares instead.