Landlording is Not All That Passive
You always hear about rental properties as passive income. Well I totally disagree. Even with PM in place, there are still many active activities when it comes to direct property ownership. Yes, it does take several tasks off your plate, but it is NOT “truly” passive. When it comes to your rentals, do you agree or disagree?
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I had gap in between tenants at a long distance mid term rental a few months ago. A buddy of mine and I went and spent the weekend at the property. He was talking about wanting to get into real estate...his exact words were, "I just want some passive income." In the exact moment he was saying that, I was snaking the shower drain. Agreed...not passive. It can get more hands off over time though.