I work at a credit union where we deal with a lot of smaller investors and many of them have properties where they aren't breaking even on a cash flow basis. But they are using the losses to lower their taxable income while building equity elsewhere. They are (from tenants I've heard from) good landlords. Lately we've been dealing with a lot of realtors that are buying up properties and that just doesn't sit well with me so I'm looking to change careers and get more into C&I and CRE rather than SFR investments. Being able to cash out 7.25 weeks of accrued vacation time I haven't been able to take too is a big plus.

[–] nanoUFO@sh.itjust.works -1 points 2 years ago

In a lot of places if you own any land you are a millionaire, it's coming to the point that if you own a condo you are a millionaire.

[–] TheDoctorDonna@lemmy.world -1 points 2 years ago (1 children)

Choosing to use a basic human right as a form of income is scummy. All landlords are scum, whether they are rich or not.

[–] huge_clock@lemmy.world 0 points 2 years ago (1 children)

People need a place to stay and not everyone has piles of cash for a down payment. Vote for the change you want, but in this system we need rentals.

[–] TheDoctorDonna@lemmy.world 0 points 2 years ago (1 children)

Those rentals should be a social project not a profit driven one.

[–] huge_clock@lemmy.world 1 points 2 years ago

There’s more demand for rentals then there are government resources to provide social projects.