Even if the majority
of rental income goes towards the landlord's mortgage, that's not an expense,
that's equity going into the property, which the landlord gets back. It's a bit
like saying 'my profit margin is slim because I put most of the profits into my
retirement fund'.Well boo hoo, so you have to wait till retirement before you
can cash out your passive income. Retirement might not be a luxury your tenants
can afford.Are you high? If you have the assets to own "10, 15, 20
units" you are not by any definition middle class or even upper middle
class. Your talking even in cheap markets having over a few million dollars in
real estate assets. In a lot of markets thats 3-6 million in assets. That is
not middle class. At all.I will admit its not buy a sweet lambo and go eat
lunch in England and fly on your private jet to eat dinner in France levels of
rich. Almost every last ounce of your net worth is tied up in very inflexible
hard realestate investments. I understand the difference between having 3
million dollars in cash and 3 million dollars in non-liquid assets is what im
trying to say. But you still have 3 million in assets. You are not middle
class.
BUY THIS SHIRT : Packers Girl Classy Sassy And Bit Smart Assy Green Bay Packers Vintage shirt
SOURCE : Happy new year shirt
Comments
Post a Comment