Did the 2008 market crash effect rent income for landlords?

[Mendy Weissman]

I was just reading Robert Kiyosaki’s book “Rich Dad’s Increase Your Financial IQ”.

In his book he writes that rent income from buy and holds were hardly effected by the 2008 market crash.

The point he was trying to make is that investing in long term rental properties is very safe and can withstand pretty much any market.

I am wondering if that’s true.....

Does anyone here on BP have any thoughts on that?

[Bill Pate]

Hi.  I have had buy and hold rentals since 2001.  Over that time period I have been able to grow from one to ten units.  Rental income has been very stable for me over that period.  My personal philosophy on rentals in my market is I like to keep it very basic.  Paint everything white, vinyl plank flooring, etc.  Then I keep my rent on the lower side of the market, screen really heavy, and typically I have very good tenants.  Even if I do have turnover it's typically very short amount of time.  Usually no more than one month.  I have seen market ups and down, but overall rent has been a very stable income for me.  In 2008 when the market was pretty bad I was able to buy more units for pennies on the dollar and pay cash.  In 2019 when the market has trended up I was able to buy a 3 unit with the cash made from the other units.  Overall I am very happy with the performance of my portfolio.  The income is very predictable.