Managing real property takes considerable time, expense, and expertise. Things break and need to be fixed. Marketing must be done for vacancies. Most significantly, tenants are risky. Some will destroy your property. Some will be late with the rent. Some will not pay rent at all, requiring eviction--a time-consuming judicial process.
Someone here suggested hiring someone to manage it, so it doesn't take much time. The only problem is that the manager will also soak up most of your returns.
There is nothing easy about making money in real property. Some do it, but it's because they invest significant time and expertise. After that, guess what...the income isn't so "passive" anymore!
It's not.
Managing real property takes considerable time, expense, and expertise. Things break and need to be fixed. Marketing must be done for vacancies. Most significantly, tenants are risky. Some will destroy your property. Some will be late with the rent. Some will not pay rent at all, requiring eviction--a time-consuming judicial process.
Someone here suggested hiring someone to manage it, so it doesn't take much time. The only problem is that the manager will also soak up most of your returns.
There is nothing easy about making money in real property. Some do it, but it's because they invest significant time and expertise. After that, guess what...the income isn't so "passive" anymore!