Quote from: K-Dog on Jan 16, 2024, 10:34 AMBrian's rentals are the result of him investing his own money and getting a reasonable rate of return for it.  If he is careful and gets good renters, and he keeps the properties up, it is a good system.  Brian's is the only form of rental arrangement we should allow.  Brian's rentals are on the edge of what is considered personal vs. private property.  If there is a problem with a rental, Brian responds quickly to make things right.

A cap on rental income (before it gets a 100% tax) would currently be about 100K, it would be tied to average income.
100K being on the high end of average income.  The system would be heavily regulated to make sure it provides retirement income and nothing else, and housing meets standards.  Regulated to make it fair for all.

A dozen units is pushing it.  Money begins to make all decisions and money goes for short term profit.  By itself money will not keep properties up.  That requires humanity intelligence and work.  Can Brian respond well to a dozen?

Quotewho would want to own and rent out a home

describes my situation.  My part time job, replaces the actual work (fixing shit) of being a landlord, and the income it gives is on par with what a well regulated rental market would provide.

My educated guess is Brian's gross income from the properties is well in excess of $100K, but figuring what his net income is quite a bit more difficult.  I don't know  how much his insurance policy costs him, for instance.  I don't know his total annual tax assessment either.  He also doesn't do any big repairs himself, he contracts out the work.  For the AK property, this year he hired a property management company to handle everything.  He had to invest a lot to fix it up because prior tenants messed it up so bad, but now after new tenants and rent raises, he makes more net than before.

Some of this came from his own investment, but he inherited some of the properties from his dad.  He's not a 100% self-made man.

As slumlords go, he's one of the better ones, he does fix stuff in a timely fashion and so forth.  He's had to do some evictions, but mostly has had good luck with his tenants overall.  His vacancy rate most of the time we talk about it is no more than 1 unit.

Basically, he's done just a little better than you, another Boomer who got the Amerikan Dream.

RE