Influencers make being a landlord with lots of rental properties seem easy. But a real-estate investor with 482 units warns newbies to not scale up too quickly.
allows a buyer to put down as little as 3.5% of the purchase price but requires that the buyer live in the building for a year. They can live in one of the apartments while renting the other ones out, he said.
Ainley said that smart investors should realize that rents and property values will not steadily increase in the near-term — they need to look further out. "If you're looking out on a 20- or 25-year horizon, then yes, I think it's safe to assume it's going to do those things," he said."But when you're looking at a two-year horizon? That's tough. And a six-month horizon? That's nerve-wracking to take on a big project."
Ainley pointed to another problem in the world of real-estate investing: Some investors have found that it's a far easier route to sell crash courses on real-estate investing than it is to actually buy and fix up buildings themselves."If you're good at it, you can get a lot more people to pay you $20,000 or $30,000 to show them how to invest versus trying to make $20,000 to $30,000 multiple times a year on deals," Ainley said.
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