What's the best way to get into this? REITs? Roofstock? Managing physical homes directly seems like a drag and it looks like in Bay Area the rental yield will be really low to make it a good investment. Anything other ideas?
Curious why do you think that for Bay Area? I thought SF Condo would have good yields
Direct or not at all. Yes it's more work but you controll the outcome.
After reading that story on tenants not paying rent and forcing the landlord to sell the property to them, I’d be wary of buying anything in the Bay Area. Same goes for places like NYC, Chicago, etc. Buy where the landlord protections are greater.
None of these things are true for you lol. Any attempted laws are aimed at huge owners. Quads, condos, and sfh are all exempt from every law. Landlord protections are in low income states where you do have to worry about low quality tenants and even there a bad tenant can ruin your entire year. Buy in good areas and only rent to great tenants. Even if the cash flow is initially slightly lower you won't have to do anything and the risk is much lower that the wealthy family is going to be making meth in your basement
Not necessarily. Read the Chicago Landlord Tenant Ordinance which puts in a bunch of gotcha items for the landlord to drop the ball on so that the tenant can sue. For example - The security deposit requires the landlord to hold the money completely separate from the landlord’s personal funds, disclose the name of the bank where the funds are, provide a explicit receipt and pay interest every year on the deposit even though the city’s published interest rate for the past 6 years or so has been 0.01%. Most landlords have switched to taking non refundable move-in fees instead of security deposits as a result. However it’s pretty clear that the city administration is on the side of the tenants.
I am planning to buy land on Mars. The way it’s all going, we’ll be there in 10y
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