Residents
Owners
Being a landlord certainly comes with plenty of stresses. However, it can be beneficial to stop and remember what you love about being a landlord. Here are some of the things you might want to add to your list.
Smart Investing
You should be proud of yourself because you've made, what most consider, a smart investment. Yes, you could have bought stock, but it will go up and down. Most real estate will simply go up and will not go down over the years you own it.
Value Control
Another thing you should love is the value control you gain from investing in real estate. You cannot add to a stock and make it more valuable, but you can with a home. You can upgrade the home, add square footage or add something else new to the property and see the value go up.
Positive Cash Flow
If you set things up correctly, you should enjoy positive cash flow over time. This is certainly something you should love about being a landlord.
Plenty of Tax Advantages
Real estate provides plenty of tax advantages. You can gain deductions for improvements, travel expenses to check on the property and so much more.
Connections
You may not love this part, at first, but over time, you will discover which contractors and service companies are the top choices in your area. Whether it's a carpet cleaner or a plumber, you will know them very well, which provides some great benefits for any property you own.
Other things to love about being a landlord include:
- You can be a landlord into retirement
- You will understand landlord/tenant laws very well
- You will get to meet plenty of interesting people
- You can get involved in the community
- You may learn about DIY home repairs
- And More!
These are just a few things to love about being a landlord. Create your own list and reference it anytime you feel the stresses that come along with owning property.
