• Knightfox@lemmy.one
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    1 year ago

    You’re literally my parents. They were long term landlords, bought properties for nothing in the 90’s rented them for 20-30 years and then sold them. Most properties were long term rentals, people lived there for 5+ years, one lady had 6 kids in 10 years in one of their houses. Rents in their area are ~$1200-2000, my parents were still renting at $700 because the place was paid off and the people living there had been there for nearly a decade.

    Side hustle landlords ain’t the enemy, it’s the corporate landlords that are the true problem. Unfortunately the people being oppressively fucked don’t see a difference and it’s hard to blame them.

    Hope your side hustle works out for you and I hope you stay one of the good ones.

    EDIT: My parents both have full time jobs, having rentals wasn’t a job for them. They rented to pay the mortgage and pay for upkeep. The long term plan for them was to sell the houses and retire, not live off rent for perpetuity. They rented the properties at a rate that allowed them to pay the mortgage off quickly and pay for landlord repairs (roof, HVAC, water heater, septic tank, etc).