Property owners do not own their property, it seems.
Property owners do not own their property, it seems.
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I have several rental houses. Small homes for young families just starting out usually. While I own them free and clear it costs me about $500 a month for taxes and insurance. If I had mortgages on these properties my rent would be hundreds of dollars more expensive. My 3 br ranches usually rent for about $1200 but sometimes after someone moves out it will take well over a year just to pay for the rehab expense. I could charge more rent I guess but am loathe to do it. I would rather keep a tenant for a long time than make a couple hundred bucks extra every month.
I’m still a believer in rental properties as an investment but it is getting more and more difficult and more expensive to own anything that can be taxed. The government likely makes more on my rentals than I do, they certainly make more on my gasoline purchases than the oil company. I just don’t understand how we got to this point of socialism here in the good old US of A.
I didn’t like working for an employer but I don’t like working for the government either. When you have rentals that is what you are doing, you work for the government but instead of getting paid by them you pay them.