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I know this is looked down upon around these parts, but I own real estate. I started by buying my own place over 15 years ago and every time I move, I turn the
by dmarlow 6y ago
I know this is looked down upon around these parts, but I own real estate. I started by buying my own place over 15 years ago and every time I move, I turn the previous place into a rental investment. Say what you will about "rent seeking", but we've poured lots of money into maintaining our properties and providing people, who want to rent, with a clean, well maintained, affordable place to live.
- adamhp 6y agoI haven't given this a lot of thought, these are just my surface-level opinions. I get the hate for slumlords, but I've never understood how being a landlord is any different than providing any other product or service. You've spent your own capital, taken the risk, leveraged, invested effort, etc., to developing this product/service that offers value. It allows someone without the same risk tolerance or upfront capital to have a place to live and—potentially—enjoy colocation to other amenities. Would people feel differently if you built the house yourself? What is the threshold of required "value add" that people don't see it as "rent seeking"? Not sure how it is different than buying a failing business and revamping it. Or Microsoft acquiring GitHub and adding features. Very much open to having someone who holds this view provide their two cents; I'm genuinely interested in developing a more nuanced opinion on this subject.