Residential landlording is more of a second job than passive investment. Nothing wrong with that, but it's not like you can just buy a few properties and start hauling bags of money to the bank every week. It's a business, and even with a manager between you and the tenants, there is some risk and occasional unpleasantness involved. Everyone I know with more than one property has spent some Saturdays dealing with their rentals.
A relative of mine is doing well with lower market properties, his 'day job' is something he can now do for fun. But he has an entire ecosystem of employed manager, a few contracted handymen and an attorney on retainer who does the paperwork for property purchases, sales and evictions. But he is in a landlord friendly state where you just a 'quit or pay rent' notice a few days after the rent is late. This is a lot less interesting a line of business in a state (or city) with strong deadbeat protections.
If you are cut out to deal with renters and you understand enough about building maintenance and construction to supervise maintenance folks (or a manager), then sure landlording may be a good job for you.
A relative of mine is doing well with lower market properties, his 'day job' is something he can now do for fun. But he has an entire ecosystem of employed manager, a few contracted handymen and an attorney on retainer who does the paperwork for property purchases, sales and evictions. But he is in a landlord friendly state where you just a 'quit or pay rent' notice a few days after the rent is late. This is a lot less interesting a line of business in a state (or city) with strong deadbeat protections.
If you are cut out to deal with renters and you understand enough about building maintenance and construction to supervise maintenance folks (or a manager), then sure landlording may be a good job for you.
