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> "mortgage + tax liability + chunk of profit usually 25-50%" 25-50% is absurdly false. We own a second home which we've rented out for years (wasn't the orig
by insane_dreamer 1y ago
> "mortgage + tax liability + chunk of profit usually 25-50%"
25-50% is absurdly false.
We own a second home which we've rented out for years (wasn't the original intention, but anyway ...). The rent covers mortgage, taxes, and upkeep. Profit is minimal, less than 10%. Once you factor in eventual renovations, like replacing the roof, floors, etc., there is no profit at all, or very little.
- mystraline 1y agoGo read the briefs from the Realpage lawsuit, and maybe you won't consider me much the fool. I keep getting anecdotes as some sort of glorious rebuttals. No matter. When the people are at their last end and the guillotines come, I will not shed a tear.
- insane_dreamer 1y agoenjoy the show! irrelevant fun fact: people think that the vast majority of those who were visited by Mme La Guillotine during the French Revolution were nobles. In fact, the vast majority, ~85%, were from the "third estate" (commoners, which also excluded clergy).
- bpt3 1y agoPlease point me to the brief documenting that those landlords are making 25 - 50% profit. And I see you showed your true colors with your second comment. I'm sure if the revolution you're praying for actually comes, you'll definitely be in the vanguard!