10-01-2021, 09:32 AM
(10-01-2021, 09:13 AM)ken-do-nim Wrote:Not a bad thread topic if there isn't one already. Converting it back to a duplex would probably be a great idea. Doing it well in advance of your move might make sense. Learning how to do a few things for yourself is good. A helpless landlord spends a lot of money when a water pipe breaks at 10PM, or you want to install a new water heater some evening. My water heater died a few days ago. A quality water heater is only about $450. HD will install it for $1100. Trust me that's insane. It's an evening project for a non Pro.(10-01-2021, 07:37 AM)fenders53 Wrote: This is one of the most important topics discussed on this forum. Diversity in your income stream is VERY good. Real Estate has been solid for centuries. Being a landlord is not for everyone. Maybe it doesn't fit one's personality? I was glad I did it but my career required I keep it small. You can hire out property management as well if you do it on a larger scale. I am convinced a side hustle of some sort is important if you don't have a huge and secure wage. Even then things can change. Mike and I lived through the 70s-80s. Major employers just went away on fairly short notice. More than one way to get along in the world is smart. Just find something you find interesting. I repaired cars on the side when I was in my 20s. Wages seem silly now, but I invested half of it so not so silly with decades of compounding.
Just depending on a DGI port for the bulk of my income would not give me comfort. I've seen the rug pulled too many times.
I live in a 1 family that started out as a 2 family. One thing I've been wrestling with is when I move out (min 4 years), should I convert it back to a 2 family first before I start renting it? I'll have to figure out how much rent I'd collect with it as it is vs. doing the conversion job ($150k?).
I'd love to spend my retirement publishing gaming supplements that people can print on demand and get passive income from that as well.
Just nibbled some HAS. Still waiting for the bad news. The chart says something is up and it's probably supply chain related. Anything plastic is a potential issue as well. I see that at HD now. I like HAS sub $90 though.
Going to buy small portions today so I don't get caught sucking my thumb while some stocks are down pretty hard. Keeping some dry powder but I have missed the bus on dips before. Feels better when you bought at least a little.