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IMHO.....
Real estate investing is fine for some. But, also plan for what happens.....when your renters refuse to pay.
I only have one property. I live on/in it. I like it that way.
IF, there is a recession and people don't work/lose their jobs.... How will they pay for their rents or mortgages? A recession is/will be ugly. Then, remember the last time? Rrrright...... some people, simply walked away from their obligations (never having to pay it back) and some had to be forcibly evicted (at the landlord's expense). Call it as, being protected by the Government. Whatever.....just remember that the past has a funny way of repeating itself.
BTW.....local governments in CA were recently considering eliminating the tax write off for home mortgages on 2nd homes. Attacking the rich. But, isn't that the trend?
Proposed law would end tax break for second homes
Not that "investors" with their business tax write-offs will care. Or maybe, those who use their 2nd "vacation" properties as Air BnBs?
Aloha, Mark
Real estate investing is fine for some. But, also plan for what happens.....when your renters refuse to pay.
I only have one property. I live on/in it. I like it that way.
IF, there is a recession and people don't work/lose their jobs.... How will they pay for their rents or mortgages? A recession is/will be ugly. Then, remember the last time? Rrrright...... some people, simply walked away from their obligations (never having to pay it back) and some had to be forcibly evicted (at the landlord's expense). Call it as, being protected by the Government. Whatever.....just remember that the past has a funny way of repeating itself.
BTW.....local governments in CA were recently considering eliminating the tax write off for home mortgages on 2nd homes. Attacking the rich. But, isn't that the trend?
Proposed law would end tax break for second homes
Not that "investors" with their business tax write-offs will care. Or maybe, those who use their 2nd "vacation" properties as Air BnBs?
Aloha, Mark