If you think property investment is passive, then you either haven't bought enough yet, or you've been on the wrong training course.
Yep - you can systemise it, and we've done a great job of it (running it from the villa in Spain)
But I still have to be the one to make the decision as to buying a new boiler or repair, to evict the dickhead tenant (no dickheads allowed, but we cant put it in the clause unfortunately), or which handyman to recruit into the system we use.
It's not passive. Or it is. Like driving a car is passive.
Or a better example, getting on an airplane is probably a better way of putting it.
You see to get on the plane you have to go through all the checks. And while yes once you;re on the plane you can sit back and relax and let those miles roll in - you still have to pee, and follow the rules, and evict the dickhead in the wrong seat (remember our no dickhead rule?)
Anyway - I think I may be taking the example too far
1. Property isnt passive (unless you literally buy a hands off 'armchair investment' with full management and someone ELSE makes the decisions (If you're in an armchair investment and you still have to say 'yay' or 'nay' to the boiler - it ain't passive buddy)
2. employ the no dickhead rule with your tenants.
3. Understand what you're buying. If you're buying a property to rent out then go and a goddam training course for f'cks sake. I'm fed up with explaining why you cant just walk into a property just because you own it. This goes for letting agents.
We had a tenant who had to put a chair under the door handle as the letting agent kept coming iin - she was in the shower once.
Passive income DOES exist. It's just not in buy to let, rent to rent or serviced accomodation. There's work involved.
Know what you're buying.
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