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I bought a 3-flat four years ago after my first year out of college and moved into one unit. There's some extra responsibility for sure and some things you'll need to learn, but nothing that you couldn't do if you put your mind to it.
Today that building is fully rented out and pays me an extra $2k every month after covering the mortgage. Best decision I've ever made outside of getting married.
Did u reveal that u were the landlord? Was it hard to establish boundaries?
Rising Star
Why not do both by investing in a REIT? Haha…
Seriously, housing market is high. Mortgage rates are high and increasing… Stock market has pulled back from its highs and things appear to be priced more realistically now. Based on what I described, what seems like the better decision?
I doubt you'll see much price appreciation on a unit in Chicago. This is what makes becoming a landlord lucrative. I did this for 5 years and eventually sold the place due to what a pain in the ass it was. Lost a lot of money too!
Rising Star
I’m up more than $50k if I sold my place in just 2 years. I would say there is good appreciation here. 😉
Get a STR in a nice place (near a NP or in Florida/Carolinas) so that you have a vacation spot when you want
Short term rental like Airbnb stuff