Madison MoneySports - Personal Finance Thread

[D_Eclipse9916]

I'll say it once again, residential real estate investing is not worth the time, investment funds, energy or effort unless you are a slum lord / own a trailer park or you have the capital to front for commercial condo buildings.  Commercial real estate >>>> all without question but that also takes a lot of capital and knowledge.

I'm diving into it this year, with the expectation that I'll hire a property manager and that its easier to build equity rather than more savings.  It may take some work to find a good one that will look after the place, though.  I also dont expect to quit my day job.

There seems to be a lot of info and support here - https://www.biggerpockets.com/ - I've been reading there a lot.  One of my goals is that it will generate passive income once I'm done with the rat race.

Don’t be scurred. If you are already maxing our your other investments it’s good.

Residential Rental and Real estate agent is my uncle’s only job for 20 years and his net worth and ridiculous “work” life makes me jealous. It’s not a get rich scheme but 5-10 years in 20-30% returns are there and not subject to typical taxation or based on “one to two years of drumpf pushing the market”.

AKA don’t quit your day job, pay attention, max your 401k and personal Roth first and then see where you are at. Personally I think tying 90% of your entire net worth to a finicky and volatile stock market is ridiculous. Sounds good when the market is up; not so great when you have to pull it out during a 5-8 year pull back cycle during retirement. See: timing your retirement income is almost as important as putting money away.