If you've been thinking about becoming a landlord in Denver or anywhere else, you need to know how much this can cost you. I've been a landlord for six years in both Denver and Los Angeles, and there are so many things I wish I knew before becoming one, but most importantly, the costs associated with being a landlord. They can really add up and even make you lose money over time.
This current 4-year run we’re on is pretty bad, not the worst, but it’s worse than most landlords’ experiences. We’re overdue for things to normalize, but this is a real example of how even a single rental property can have unexpected things that come up for you as a landlord.
A lot of people in their 30s think about investing in rental property and ask themselves, "Should I become a landlord?" We became landlords after buying properties solely with side hustles, and I thought that I wanted to have multiple rental properties and live off of that real estate income for the rest of my life. After 6 years of being a landlord, I've already realized that being a landlord is not as simple as many people think it is going to be. For me, real estate is probably my least favorite form of passive income that we have.
While you might make some passive income and cash flow, there are repairs, expenses, unreliable tenants, and really weird things that people do when they're renting your house that you probably never would've expected. These are important warnings to know about before you go all-in on real estate.
I live in Denver, and if you're thinking about becoming a landlord in Denver, Colorado, or you're just doing research on Colorado in general, here are some other videos I've made recently:
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#landlord #rentalproperty #secondhome
28 июн 2024
