Landlord doesn't own shit but a piece of paper saying they have some level of authority for what's on top of the land there.
The value of this asset goes up over time
why do you think? it's just a magical always-increasing asset like some kind of perpetual motion machine?
Yeah it's brainless it's just gambling with more steps. One recession and you're fricked. Property values don't always go up. You're gambling on that shit won't hit the fan during your term, and you won't have to liquidate because people can't pay rent anymore and you don't have enough in reserve to ride it out. Puts nothing into the community, instead of creating something and being rewarded from that profit it's just charge others who can't afford to buy a house and skim the margin from that. Absolutely braindead lazy.
But that's not enough to back what I said. The only ones winning are the banks. Shit hits the fan and you can't pay the house off? lmfao, you might get back what's left on the loan and you lose what you have paid thus far, and you lose the house. Bank made the interest from loaning to you, and the house that you paid with that loan, they get that too.
Not only is it a braindead non contributing "profession" but it's also a good way to gamble against the next 30 years of the economy.
@89wc if a landlord "doesn't own shit" then why don't you see what happens if you stop paying your rent?
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OK so I really don't know if I own the mineral rights right down to the centre of the earth beneath my properties. I probably don't.
But what I do own is the bricks and mortar that form the houses and the legal deeds to them, allowing me to live in them and/or let them to a rentoid.
Whether this meets your novel definition of ownership isn't really important since I can sell the property I don't live in if I'm ever in financial trouble and get loads of money back. But I'm not going to as long as there's a queue of rentoids willing to pay me a shit tonne of money each month just for the privilege of living in my house.
And you're right it doesn't take a lot of brainpower, which is why it's such a great idea. Easy money which leaves me free to use my brain for my actual career. It's stupid not to be a landlord.
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If this is a gimmick it's kind of boring and overdone. If sincere, you are r-slurred and should keep yourself safe.
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