If you want to be hands off, you have to hire a property management company to manage your properties. You can expect to lose about 10% Gross for their services.
You are also responsible for all taxes, repair costs, and misc costs and fees. You can expect this to be around 20% but it very greatly depending on location and age of the building. The more densely populated the area, and the older the building the higher this will go.
Also factor in interest on the mortgages for new properties and costs associated with buying real estate.
>>1045573 well 4, I live in one in san diego. 2 in mass,1 in PA and 1 in florida, the management companies do everything, when i dont have anyone in them then i have to pay for the mortgage, which isnt that bac cause i have a emergency fund.
>>1045655 I agree with this except for one thing, you'll never get the same leverage on a REIT as you can om a property. It's ironic since the REIT has much better diversification, less risk of vacancy, better management, etc. But go to a bank and try to finance a purchase of 400k in REITs, with 10% down. They'll laugh you right out of the building. But they'll give that mortgage to any chowder head with reasonable income and credit score
I'm always amazed at the number of people who see running a bar/restaurant as some kind of retirement/passive income thing. It's shitloads of work, all around the clock, no holidays, no week-ends. If you have the resources, you should rent out a bar. Find a manager to be the owner of the business, not the walls. You collect rent, and don't need to bother about operations. Business leases are generally less work for the landlord, longer contracts, and tenants have skin in the game and lose income if they get shut down, so less risk of rent payment issues.
>>1046264 By holidays, I meant Christmas, New Year, etc... You can close but not to celebrate with friends and family, hospitality works the most when every one else is having fun, that's when your make your buck.
It's all crowded to the point of being lottery, like making apps for phones is. Two years ago I looked into stock photos. > build a portfolio of a few hundred pics > post it to every stock photo site > receive income from it til eternity
Guess what? There's pics of everything from every angle already. Me, my pleb cam, and my pleb surroundings got appropriately pounded.
I do have a book published, which is currently in the long-tail mode making 1-3 sales a month. That was in a niche I was an expert in though, so I knew my shit, as well as where and how to push it. Most sales always happen in the first month, then it slowly drops to the stable tail mode.
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