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Reply to "Passive Income Strategies"

I briefly rented out my house after I moved, and it was hellish. The tenants called what seemed like all the time. I am wishing I held onto it though, since it was near the beach. I bought it for $110,000 in 2010, and it just sold for $245,000 this year. I put a lot of money into that house. Oh well.

If I were to purchase something again (probably an apartment or a condo), and rent it out, I would definitely hire a property management company. But things are so uncertain with COVID, maybe the tenants wouldn't be able to pay the rent? I just don't know.

I like getting passive income from investing. My husband and I also rent out a room (not an ideal solution, but it works for us), and we use the money towards our mortgage. So that is passive income - I realize it's not a solution for most people though.

For me, the most important thing is creating multiple streams of income. I have 2 side gigs that are great additional income earners for me, and every little bit helps.

Last edited by lismox
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