<\/p>\n
Renting out property seems simple enough:<\/p>\n
That DOES sound awesome, but it\u2019s also an oversimplification. In fact, renting out property is anything\u00a0but\u00a0<\/em>relaxing. That\u2019s because you\u2019re responsible for all facets of the building you\u2019re renting to tenants. That includes repairs, maintenance, and chasing down tenants who don\u2019t pay you rent.<\/p>\n And if they\u00a0do<\/em>\u00a0miss a rent payment, you\u2019ll have to find another way to pay your monthly mortgage payment.<\/p>\n You CAN make money from renting out properties (many people do!). It\u2019s just that doing so could negatively affect your finances in a BIG way. Check out my\u00a0house poor article<\/a><\/u>\u00a0for a good example of that.<\/p>\n Luckily, with the rise of services like Airbnb, you could rent out a spare room in your house and not worry about buying a separate apartment unit.\u00a0<\/p>\n You simply sign up for the platform and take advantage of short-term rentals. You\u2019ll still have to deal with certain pains of property management, but you\u2019ll be able to leverage property you already own (e.g., a spare bedroom in your house).<\/p>\n For many people, owning multiple properties can put a strain on your finances- and your relationship. In\u00a0episode 88 of my podcast<\/a>, I talked to a couple facing big problems thanks to their real estate portfolio.<\/p>\n<\/p><\/div>\n\n