Originally posted by @Grant Rothenburger:
Originally posted by @Trace A.:
Thank you @Grant Rothenburger! Flipping houses is something I definitely would be interested in if I had more time. Working a full time 50+ hour W-2 job doesn't give me a ton of extra time to be accessible during the day. Now, once I am able to produce enough capital from rentals, I will quit my full time W-2 job, and definitely venture into the flipping 100% of the time. I do agree that my skill set would definitely be more beneficial in the flipping arena.
Solid plan
Just saturday Morning musing.. However the few years i have been on BP I see this same thought process over and over and over.. I dont like my job.. being a landlord will set me free etc etc..
I just wonder if everyone could implement this strategy. to the point they had enough rentals to live on .. I doubt there would be enough rentals in the US to satisfy demand.. and there for prices would sky rocket. Kind of like the guys that teach flipping courses if each one of their class's were they get hundreds of folks in there and thousands who are interested. there simply is not enough real estate to come close to satisfy those numbers of peeps that want it or dream it..
And since other than new apartments which are all A class and go to basically big hedge funds.. in the SFR space very few homes get built for rental purposes so the existing inventory is all there is.. they aint making any more.. LOl that creates supply demand.
And that is why prime areas were supply is tight houses cost an arm and a leg and then in other areas were you have populations contracting prices are or have been flat or declining.. Just some thoughts thats all
OP welcome to the site.. good luck on your ventures.
Thanks for the reply @Jay Hinrichs. While I do see where you’re coming from, I don’t necessary agree 100%. I do agree a lot of people base their initial real estate process on procuring enough rental properties to quit they’re full time job. I don’t think it really matters why their quitting, the main thing is IF they’re able to quit. IF they’re rental properties produce enough income to counteract their current W2 job, then why not quit? I’m not saying being a landlord will set you free, because we all know that is probably not true unless you have ton of cash producing properties, which in that case you probably have property managers to manage them anyways. So you’re not really landlording at the point you’re financially free. But of course there will always be enough real estate to go around, I think a lot of the older generations are out of tune with what millennial’s are finding attractive. Studies show that millennials who can afford to buy a house, or even want to buy a house have decreased DRASTICALLY over the last couple years. This is due to the shear volume in debt that generation has put on themselves and/or the ideology that commitment is a thing of the past. The age of marriage has increased, student debt has increased, the age at which they choose to have kids has increased, the number of people wanting to rent has increased, etc... Therefore yes, I do believe there will always be enough real estate to go around. The housing market will always fluctuate in price, but it will always correct itself. If anything, high prices will push even more people to rent because they can’t afford to buy.
