#4 Coronavirus Conversation Contributor
- Investor
- Midlothian, VA
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Rentals. Do they matter anymore?
#4 Coronavirus Conversation Contributor
- Investor
- Midlothian, VA
How many people out there thought rentals were the path to wealth? Are any of you questioning that now? I guess there is a good argument that eventually things will go back to normal and rentals will once again be the path to wealth. Of course, that assumes you survive economically. I know that my rental portfolio is struggling. I have tenants that are clearly taking advantage of the situation. On top of that they are damaging the properties or stealing the appliances.
Will the world change? Will rentals become more socialized? I don’t know and I don’t pretend to know but I find it hard to believe that if this stretches out for 18-24 months, which I think is realistic, that there won’t be some ingrained differences in people. My friend is Swedish, and they live basically in socialism. He says there are few Real Estate entrepreneurs because it is not a profitable business. The health care seems nice though.
What changes do you see in the future, if any?
Most Popular Reply
Scott,
I definitely believe rentals are still the path to wealth due to the leverage, cashflow, tax advantages and appreciation. Until those things change, I'm going to continue to buy.