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this post was submitted on 19 Jun 2023
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Why do these always get framed as "woe is me" for the poor investors?
"It was an emotional decision" because now she can't make money off it AND use it as a holiday home for her family.
Cry me a bloody river.
Because people have forgotten real-estate is an investment, and think it's a machine that just prints money for them. When the inevitable reality check comes, they get emotional.
No sympathy, though. It's nice to see some councils are finally changing the rules to put a stop to the Airbnb nonsense, even if others are all 'we can't change the rules, people have made investment decisions based on them'. That's the risk you take when investing! Bigger risk, bigger returns. You want minimal risk, put your money in the bank.
Real estate is a way to provide housing to people first, it's an investment second.
"Landlord reveals he owns almost 300 properties in talkback radio call".
Can you imagine how this guy is feeling...
Owns, or has 300 mortgages?
If he's owned them for more than a couple of years then he's in the black regardless.
He never said. Websearch the quote.
He worked hard to buy his first house at 17 so I'm sure he owns at least one.