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It's not dumb, and it's not for free. If you robbed a bank and had a nice big pile o' cash, how smart would you be to put it in a bank and collect interest on
by mchannon 8y ago
It's not dumb, and it's not for free.
If you robbed a bank and had a nice big pile o' cash, how smart would you be to put it in a bank and collect interest on it?
You jeopardize (or devalue) the asset by trying to play landlord. By leaping after $80k/year, you may cost yourself $500k/year appreciation in the asset.
- selectodude 8y ago>You jeopardize (or devalue) the asset by trying to play landlord. By leaping after $80k/year, you may cost yourself $500k/year appreciation in the asset. Unless your tenant literally burns the building down and you don't have insurance, I'm not sure how this works.
- hcknwscommenter 8y agoA building that would otherwise be subject to rent control or other tenant protections is worth less than the same building that is empty of tenants. By leaping after 80K/year you can massively decrease the value of an empty building, or a building that is likely to soon empty, or a building that can be condo converted without Ellis acting anyone.