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Reply to "I am considering buying a rental property. Talk me out of it."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I own some rental properties and one major con is is large unexpected bills for things that break, or just wear out over time, surprise tax bills, vacancies, etc. So make sure you have a large cash reserve to spare. Another is the time spent on it, even if you have professional management. The big pro is the opportunity for returns far greater than index funds. The Bigger Pockets website and podcast is a good way to start educating yourself.[/quote] I have been reading Bigger Pockets for quite awhile now, it partly seems too good to be true to me. Have you been successful as an investor? How much time did your "learning curve" take? Do you have a manager or do you manage yourself? [b]I am afraid of making a very costly mistake.[/quote][/b] And personally, if you're afraid of making a costly mistake, I would advise you to stick with index funds. [/quote]
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