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Midwest? Buy 10-15 rent houses in a college town and retire. My neighbor owns 15 houses and lives in Europe most the year. I'm working on the same path (may bu
by justherefortart 9y ago
Midwest? Buy 10-15 rent houses in a college town and retire.
My neighbor owns 15 houses and lives in Europe most the year. I'm working on the same path (may buy their homes in the next year or two, we're in discussions).
- stevenwoo 9y agoDoes this plan mean living in the town and doing the property management or is it more self sustaining remote?
- justherefortart 9y agoYou can do it either way. The risk threshold from my perspective is how much you charge in rent, with how large your deposit is, along with how often you inspect your properties. Also, you have to be prepared to sue, file liens, and use sheriff evictions. Everything is easier if you're local. If your investment is large enough, flying in to deal with your properties is a reasonable business expense (I wouldn't do it outside setting up a company and having general liability in addition to your normal house insurance).