How I’m Quietly Turning 4 Rental Properties into a Passive Income Goldmine While Crushing My 9-5 Grind
Ashley:
So what was different between the short-term rental operation and maybe the asset management of your long-term rentals that you kind of had to adapt to
Mike:
After taking the plunge on the short-term rental? I think I’ve learned that that may or may not really be for me. I might go back in that direction in the future, but it’s definitely more hands-on. Even with a property manager, there’s just a lot more purchases and bills and utility. It’s just a little bit of extra, like we said, bookkeeping. And compared to my long terms that once you have the systems in place, once it’s fully rented, it’s really pretty plug and play unless an issue arises. I do do an annual kind of inspection of my long-term properties through my contractor just to make sure everything’s going to be up to code for our city inspection the following year. But beyond that, in theory, I shouldn’t have to pick up the phone and there’s not a lot of bills to pay with the long-term, the short-term, a little bit more reward, but definitely more work.
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