LogFAQs > #936335843

Squall28 posted...

You should be able to afford the rent you agreed to pay.

That's true. Still doesn't change what I said, though...

DevsBro posted...

I would actually expect owners of more properties to be much worse off in a situation like the present. Mainly because it means far more expenses and administration. You wouldn't be able to have another job unless you just hired someone to handle your properties, which is six of one half dozen of another.

In fact, I thought we were talking about the owners of apartment complexes instead of some goober who has a bum in his basement or whatever.

It depends. I know people who buy properties who finish buying before getting another. And they do fine for themselves, money-wise. I know others who spend all their money buying multiple properties who think it's fine because they'll always be making money (but can't afford it on their own), and usually end up with a good amount of money problems for years (possibly for life).

You should only do what your money allows. If you don't think you could afford two extra mortgages (on tops of you own), then buy only one until you can afford both. And you should be able to save enough money to fix any problems any tenants have. Don't make them live in a bad situation because you can't afford what you're suppose to be able to...
---

Official King of Kings
Switch FC: 7216-4417-4511 Add Me because I'll probably add you. I'm probably the LinkPizza you'll see around.