These are frustrating times for landlords – the price of buying apartments has gone up above what you can squeeze out of the proles for rental income, and thats just the mortgage costs. Once you add in maintenance, taxes and everything else you’ve really got to be counting on lots and lots of appreciation so you can sell for a profit to make your ‘negative cashflow’ investing work out.
So whats an aspiring land-barron to do? You can’t give less to the banks, they wont accept that – cheating on the taxes isn’t uncommon, but not highly recommended as it will just lead to bigger headaches down the road, and you can’t seem to squeeze the tenant for much more money because they’re unable to take out mortgages to cover their rent.
So where do can you save that money?
But you should probably try to sell before the balconies start collapsing.