I don’t think most people really think a vacation home or single rental makes you a leech, but when your entire portfolio is single family 2-3 bedroom houses you’re kind of sucking the air out of the local market. I know in my city there are tons of “small landlords” with less than 30 houses, half of them don’t even live in the city but in ex-urbs an hour away. They don’t do anything for the neighborhoods and see their income stream as completely legitimate.
Technically, I guess so, you’re profiting just by owning the property. And having tenants exactly balancing out the costs of owning property.
Morally? Fuck no. What you’re doing you are doing to survive, not to live excessively.
Thank you.
I don’t think most people really think a vacation home or single rental makes you a leech, but when your entire portfolio is single family 2-3 bedroom houses you’re kind of sucking the air out of the local market. I know in my city there are tons of “small landlords” with less than 30 houses, half of them don’t even live in the city but in ex-urbs an hour away. They don’t do anything for the neighborhoods and see their income stream as completely legitimate.