2278: [Part 2] Rental Properties Pros and Cons by Andy Hill

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 19 April 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Andy Hill of Marriage Kids And Money shares the pros and cons of rental properties. This is part 2 of 2. Episode 2278: [Part 2] Rental Properties Pros and Cons by Andy Hill Andy Hill is a husband and father to two awesome (and crazy) kids and they hail from the great state of Michigan. His goal is to give his family the best life possible and strengthen their family tree for generations to come. In 2016, he got so geeked about this topic of young family finance that he decided to start a blog and podcast about it. It began as a hobby and then morphed into a fun side hustle when people started to enjoy the information he was sharing. Fast forward to today, he’s left his corporate event marketing career behind and is now a full-time blogger and podcaster who has been featured in major media outlets like CNBC, Kiplinger’s Personal Finance and NBC News The original post is located here: https://marriagekidsandmoney.com/rental-properties-pros-and-cons Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, episode 2278, rental properties, pros and cons, part 2,
0:07.9	by Andy Hill of MarriageKidsInMoney.com.
0:11.2	And I'm your host and personal finance enthusiast, Diana Mariam.
0:15.2	Thanks so much for joining today as we look to wrap up the article we began yesterday.
0:20.4	If you haven't done so already, be sure to listen to that episode first.
0:24.6	But if you're all caught up, then let's get right back into it and hear part 2 as we continue
0:29.4	optimizing your life.
0:35.4	Rental Properties, Pros and Cons, part 2, by Andy Hill of MarriageKidsInMoney.com
0:42.9	Rental Property Drawbacks
0:45.6	Investors who found success with rental property love to tell people about those winds, and
0:50.6	they should.
0:51.6	After all, real estate can really help you further your financial goals.
0:55.4	However, it's important to be aware of some of the drawbacks that come with rental properties.
1:00.7	1. Real estate investing is not passive
1:05.0	Unless you're using a crowdfunding platform like Fundrise or Arrived Homes,
1:09.7	traditional rental property investing is a lot of work.
1:13.2	You're running a small business with real costs, real deadlines, and real human factors.
1:18.9	Since this is not something to be taken lightly, you'll need to dedicate time to making
1:23.5	sure you're doing it right financially, legally, and ethically.
1:28.2	If you're in a busy time in your life already, investing in rental properties may not be worth it.
1:34.0	2. Unpredictable Taxes and Insurance Costs
1:39.1	Most people who take out mortgages on rental properties have fixed mortgage costs.
	...

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