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I disagree. If you find the right renter it is passive. Its no different to investing. Risk and reward. Personally i would never rent out something that means something to me.
Its not true at all, i have an apartment rented out its very little work what is he talking about? Unless u think answering couple of calls per year ‘work’
Renting a property is very much passive income, because the maintenance you would do to take care of your house, which is the primary expense of a landlord is already things that you would do if you weren’t renting in the first place. For instance, if you have mold in your house and you need to take care of that, you would do that anyway you wouldn’t only do it if you were renting.
You don’t need a property manager to rent. Why are you lying, oh I know why, because you benefit from a terrible system where you get to buy up housing and screw up the market and make it harder for people to eventually afford a home.
As a renter who lived in a house managed by a GARBAGE property management company and the owner was on another planet, owning a home is not passive!! The only way to make it massive is to be an evil landlord lol
I guess yall don’t understand what doing nothing and making money means😂 yeah there’s a little work but no matter what happens, vacation, hospital, family problems. You still have a check coming every month NO MATTER what you do. That is called passive income. Dave Ramsey head is stuck in the 80’s his advice is really for stupid people with money. Educate yourself sand stop relying on other people. The dollar is not back by gold hasn’t been since 71, the value of the dollar has been falling since 71, and wages have remained relatively flat. The only things that hold consistent value is businesses and real estate. Your 401k has inflation right on its ass. But a lot of yall won’t be able to understand that so educate yourself
7% of income tax filers show rental income. There are 47,000,000+ rental units, this means on average each landlord has 4 rental properties. The top 10% of income owners own 70% of all rental real estate value.
“Rentals aren’t passive income” is a semantic dodge. Once acquired and managed correctly, rentals produce passive cashflow, equity compounding, and inflation-hedged appreciation. The richest 10% prove it empirically they hold 70%+ of all rental equity. It’s not just passive income; it’s self-liquidating, tax-advantaged, and inflation-resistant wealth.
But it is still an income use 60,000 from the IRA pay off the home use the rest on a 20% down payment home for you and your wife
Buy the house with the IRA money or sell it. It’s not rocket’s science
Good