Underrated post

I know y'all trying to have an important conversation in here, but Navpoint Internet Services needs to be a thing on KTT.

Is it virus free though

Oh so landlords are “investing” now? And that landlords face the financial risk of being “screwed” when things go balls up? But I thought you said landlords don’t do anything?

Always

We don't we sit on our ass and collect people's paychecks lol.

Twenty years ago it was justifiable cause we collected 27% of people's income, now its 50% and that's on average.

We’ve already been through this. Making an investment is doing something. Physical labour is not the only form of economic activity that exists. Just because there’s no physical labour on your behalf doesn’t mean you’re not doing anything, nor does it mean you shouldn’t be financially rewarded for it.

You’re letting strangers live inside your property, that’s why you’re receiving rental income from them. You took on investment risk when you bought the house. You’re at risk of making a capital loss if house prices collapse. Your tenants don’t face such a risk, they’re freeloading off your investment risk, that’s why they have to financially compensate you. These actions are the reasons as to why you’re getting money from your tenants. It’s not because you’re sitting on your ass all day.

You’re making it sound as though landlords magically get money from tenants for free, when the reality is that most landlords had to work hard to earn enough money to buy and pay off their property in the first place. And now they’re justifiably being rewarded with passive income as a result of their hard work.

We legit talking about completely different points.

"Most landlords had to work hard to earn enough money to buy and pay off their property".

Every landlord i've met has been middle class and inherited the money. Investing in property in certain places like New York or London basically guarantees a return on investment because people will always want to live there. Why are you defending landlords so badly

i got 3.4k

Because I base my views on facts and not anecdotal evidence lol? Most landlords are just ordinary investors seeking a source of passive income to supplement their day jobs. Only a minority are as you described.

You're mistaking
"source of passive income" with doing hard work, that's the disconnect, the guys paying half their salary are doing the heavy lifting.

They are essentially paying for the repair costs too, all you have to do is grab the phone and make the call.

The hard work was buying and paying off the house. The passive income is the financial reward for their hard work. How many times do I have to explain this to you

you're from Aus right?

I haven't read this thread to see what else has been said but you should know this isn't really true in Australia given our situation with negative gearing

I'm not providing any commentary on it - just saying that "passive income" isn't a motivation for a large number of investment properties here

To provide some commentary now though, negative gearing is a huge issue because the taxpayer should absolutely not be subsidising someone's investment, effectively making it risk free (the chance of a long-term capital loss in Sydney or Melbourne is so small its not even worthy of being considered)

Why are you arguing with a landlord about how hard being a landlord is. S***s like the landlord version of get out tf

Landlords are leeches and should get a real job. dont @ me hoe

I like the art

My guy it ain’t that serious

what in the f***

Being a landlord is fine. Most of the people spazzing about it are just course correcting super hard.

I knew people who would let you pay cheapo prices for a 2 story house with a drier, basement, attice, washer, dish washer, patio, lawn, a furnace, with 2 bathrooms, a 2 door garage and 4 bedrooms. S*** was cash, and they took good care of you.

I also knew trash landlords and lived in an apartment with holes in the ceiling.

Case by case basis honestly. I see no inherent problem with using prior capital to gain passive income. Especially when a landlord pays for liabilities a minimum wage worker straight up cannot afford.

Its w.e to me, seems like half cope and half justified s***ting on bad landlords and the idea of profiting off necessities.

Like you can juxtapost good stories with the bad

cnbc.com/2020/04/10/told-my-landlord-i-cant-pay-rent-due-to-coronavirus-how-he-responded.html

Anyway, people shouldnt be paying mortgages and rents atm
I had to pay a mortgage like wtf

If us home owners have to pay mortgage then u renters have to too

Landlords profit off of poverty and destitution by commoditising a basic human right and offering it in return for most of the money people work for. Parasitically leeching off of people’s need to have a roof over their head isn’t defensible. It’s literally a no-lose way of generating wealth and income which is only accessible to people with wealth in the first instance.

Even arguments like "they handle maintenance" completely fall apart because it would legit be cheaper if everyone just pooled their rent money together and used that to handle general maintenance costs, and then instead of having someone skim off the top, you can use the extra money for improvements and upgrades.