The OP should listen to all responses instead of barking about them. Coach gave a good response, like it or not.
IMO, I think it’s crazy to own any rental especially at our age. I want to coast/have fun in my retirement, not be a slave to renters at all hours. As another poster indicated, when you get tired of being a landlord, your gains will be taxed heavily unless you buy “like” property.
I was a landlord 4 decades ago and learned my lesson. Got out of it within a few years and I got taxed when I got out.
All my friends who held rentals during 2007 downturn, their values of each unit dropped 50%, was still paying the same property taxes, under water in mortgage, insurance, and had no buyers that wanted them. When dealing with stocks, it take seconds to sell or do trailing stop losses so you don’t need to continue watching them.
When the BBB gets implemented, you won’t be paying taxes on your Social Security income which will save you money.
|