>Rent is the best and safest form of passive income.
HAHAHAHAHHAHHAAAAA!!!!!!!!!!!!!!!!!!
No it isn't. Renting it a LOT of work and it isn't for everyone. You have to find good tenants, but that is a crapshoot. Everytime someone moves out you gotta spend time getting the place ready for the next people, advertising it, then showing it. If your tenant stops paying you have to evict them, but that takes time and you lose money in the meantime. Then when you finally get them out of there, you can sue them for back rent and win a judgment, but if they don't have any money to pay you with, you aren't getting it. Once in a while you got a tenant who leave the place a BIG HUGE MESS that you can't even imagine, that's a few week job. Then you gotta deal with things like being woken up in the middle of the night when people have locked themselves out. If something breaks, it might costs thousands of dollars to fix. If you don't have DIY skills and time, then the cost of labor is going to kill you.
If you are renting to more wealthy people, these things might not come up as often.
If you had LOTS of money, a property manager, staff, then it might be different, but not in any way risk free.
I have family who were doing a REAL lot of work just to break even at property rentals. Then ran into the above issues.
HAHAHAHAHHAHHAAAAA!!!!!!!!!!!!!!!!!!
No it isn't. Renting it a LOT of work and it isn't for everyone. You have to find good tenants, but that is a crapshoot. Everytime someone moves out you gotta spend time getting the place ready for the next people, advertising it, then showing it. If your tenant stops paying you have to evict them, but that takes time and you lose money in the meantime. Then when you finally get them out of there, you can sue them for back rent and win a judgment, but if they don't have any money to pay you with, you aren't getting it. Once in a while you got a tenant who leave the place a BIG HUGE MESS that you can't even imagine, that's a few week job. Then you gotta deal with things like being woken up in the middle of the night when people have locked themselves out. If something breaks, it might costs thousands of dollars to fix. If you don't have DIY skills and time, then the cost of labor is going to kill you.
If you are renting to more wealthy people, these things might not come up as often.
If you had LOTS of money, a property manager, staff, then it might be different, but not in any way risk free.
I have family who were doing a REAL lot of work just to break even at property rentals. Then ran into the above issues.