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all of this talk of socialism
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[QUOTE]Originally posted by Propertymanager: [QB] [QUOTE]you might think you are sitting in a good position as a landlord since, as you claim, you don't care about the property values, but you should realise by now that if you have no interest in your property values increasing? you are nothing more than a glamorised maintenance engineer.[/QUOTE]Glass, no, the property value has very little to do with the rental property business. I don't buy a rental because I am hoping that it will increase in value in the future so that I can cash out. I buy a rental property because it is an asset that generates money. In my view, a rental property isn't any different than buying stock in a company, except I have much more direct control of a rental than I could ever have with a stock. The current property value has nothing to do with the cash it generates. At any rate, I am not immune from a recession or depression. I've been expecting and am beginning to see people having increasing difficulty paying the rent. This will only get worse as the economy tanks. However, the biggest risk to my business is the government. If the economy gets really bad, the socialists in the government could pass a moratorium on evictions or some type of rent control. If that happened, I could easily be put out of business in a very short period of time. I'm not looking forward to a collapse of the economy and I won't be immune from its effects. However, this country is broke and has promised everything to everyone. I don't know how that can be changed without an economic catastrophe, which is exactly where I believe that we are headed. In 1781, when our government wrecklessly printed money as they are doing today, the price of a pair of shoes got to $5,000 per pair in Virginia. Can we be far behind? This is going to get a LOT worse over the next few years and probably in the immediate future. [/QB][/QUOTE]
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