Joshua D.Poster
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Rental Property for Beginners -- Careful Folks!
Joshua D.Poster
#2 Questions About BiggerPockets & Official Site Announcements Contributor
Pro Member
#2 Questions About BiggerPockets & Official Site Announcements Contributor
- BiggerPockets Founder
- HI
I just read one of the worst articles EVER concerning rental properties and new investors. It is no wonder people get into trouble when they read dreck like this:
"Rental properties provide you with immediate income. While you will have expenses every month like a mortgage payment, as long as you have a tenant, you can expect on some money coming in."
And it went on with more gems just like that.
Sure . . . the landlord who paid $250,000 for the duplex that is bringing in $1,600/month is has "some money coming in" . . . not enough to pay the bills, but he's got some money at least, right?
YIKES!