EdFred
Taxi to Parking
...a slum lord.
OK, not that bad, but: I'm re-evaluating things and I've got enough cash to buy 1 single family (or multi-unit) house to rent out, and if I wanted to liquidate some investments probably buy 3-4 for cash. Thought process is to have this supplement current, and after a few more acquisitions make it my primary/sole, source of income. For those of you out there you are using rental property as income, is this a bad idea, horrible idea, or a great idea? Start with 1 house and go from there? Jump into the pool feet first and get as many as I can afford?
What say you?
OK, not that bad, but: I'm re-evaluating things and I've got enough cash to buy 1 single family (or multi-unit) house to rent out, and if I wanted to liquidate some investments probably buy 3-4 for cash. Thought process is to have this supplement current, and after a few more acquisitions make it my primary/sole, source of income. For those of you out there you are using rental property as income, is this a bad idea, horrible idea, or a great idea? Start with 1 house and go from there? Jump into the pool feet first and get as many as I can afford?
What say you?