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Reply to "$400K investment property with $2K monthly rent - worth to buy? How about the 1% Rule? "
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[quote=Anonymous]I’m strongly opposed to residential rental property, so take my input with a grain of salt. Property management is a ton of work if you do it yourself, expensive if you outsource it and with a $700 a month gap between rental and mortgage, you don’t have a lot of wiggle room. What if it’s empty for a couple of months? What if your dishwasher breaks? It just seems like you’re doing a lot of work for very little return, and I don’t think you’re going to see exponential growth in value on a $400,000 townhouse. Maybe will it be worth a ton more in 20 years, but so would money that you put in a mutual fund and it would be so much less effort. I say this as someone who had managed both commercial and residential rentals in the past. [/quote]
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