Comment 62776

By Undustrial (registered) - website | Posted April 27, 2011 at 03:45:48

I must say, though I come from a far different perspective than Shempatolla, I really wholeheartedly agree with most of his comments here. In theory the whole "investment property" thing sounds like a licence to print money. In practice, it just doesn't work like that.

If you just want to put your money somewhere to grow, try something nice and easy like mutual funds or bonds. The downside is that you might actually have to invest your own money instead of going looking for a no-down-payment loan and some quick and easy tenants. The upside is that you won't be stuck legally liable for somebody's accommodations when a few thousand in urgent repair bills show up unexpectedly. Being a landlord isn't easy, cheap, or a very good get-rich-quick scheme. Just ask any landlord on here. And if you screw up, people suffer. Just ask any tenant.

"Today, the notion of progress in a single line without goal or limit seems perhaps the most parochial notion of a very parochial century." — Lewis Mumford

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