Reply to New to being a landlord - what haven't I thought about/considered?

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[quote=Anonymous][quote=Anonymous][b]Most landlords underestimate the hassles and expenses involved, and overestimate their likely returns, especially if they fail to plan to occasional periods when the property may not be rented or when a tenant may fail to pay their rent and require eviction.  
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You'll be starting a business, which will require your time, focus, and attention; it's not a easy path to passive income like investing in stocks and bonds.  It will be illiquid, require insurance, and while many tenants cause not problems and pay as agreed, others do not, and you can't always know in advance how any particular tenant will work out.  Even if they start out strong, things happen in peoples' lives, and that can trickle down to you if they lose their job or otherwise find themselves in later financial difficulties - their problems can become your problems.

Some landlords are very satisfied with their businesses; others not so much.  For many people, sensible investments in the markets yield better returns with less hassle and much less personal involvement, all with liquidity you don't have with real estate.  [/quote]

+1 million to the bolded, but really everything PP said here is spot on[/quote]

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