Because when you sit on that property for 3 - 5 yrs, doing thenbare minimum to keep it functioning, you can then sell it for 20-30% more. You don’t have to anything.
That type of value increase is pretty rare, and by no means guaranteed. And even if it’s true, you could make even more money still by tenanting the property.
Not necessarily. Not only you will have to maintain the houses beyond bare minimum, you will have to deal with tenants. But if you just hold it, it will never depreciate in value, you can do all the speculation bullshit on it, taking loans using it as collateral, and billion of other slimy shit they do, and if you’re lucky it will increase in value a lot over time, meanwhile you don’t need to do shit other than pay some alcoholic to visit it once every three month to see if nothing leaks.
No, a lot are vacant because they’re purchased as “investments” and just sit there empty. No work is being done on them.
Paying rates, insurance, taxes, and maintenance on an empty property isn’t an investment, it’s a liability.
This is almost certainly a myth, and I don’t know why so many people believe it.
Because when you sit on that property for 3 - 5 yrs, doing thenbare minimum to keep it functioning, you can then sell it for 20-30% more. You don’t have to anything.
That type of value increase is pretty rare, and by no means guaranteed. And even if it’s true, you could make even more money still by tenanting the property.
Not necessarily. Not only you will have to maintain the houses beyond bare minimum, you will have to deal with tenants. But if you just hold it, it will never depreciate in value, you can do all the speculation bullshit on it, taking loans using it as collateral, and billion of other slimy shit they do, and if you’re lucky it will increase in value a lot over time, meanwhile you don’t need to do shit other than pay some alcoholic to visit it once every three month to see if nothing leaks.