Updated over 9 years ago on . Most recent reply
Landlord as a renter
What do you think about owning a triplex or quad while living in an apartment? I would not want to live in the property with my tenants because I would not want them knowing I'm the landlord. One tenants rent could pay the mortgage and another could pay my own rent. Does this seem like a bad decision? Why or why not?
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#2 General Landlording & Rental Properties Contributor
Many investors advocate not owning a personal home as It is a liability that can interfere with your ability to farther invest. If memory serves me I believe it was one of the suggestions in Rich Dad Poor Dad. As for your tenants not knowing where you live it is virtually impossible to hide that from anyone in this day and age. Many investors believe having their properties hidden in a LLC protects their identity as well but this not the case. Landlords can run but they can not hide.
I strongly advocate new landlords do all their own maintenance so as to get a fuller understanding of what is required to operate your business and in the future be able to manage a PM.