Accumulating Cash flow

Looking to buy a duplex in my city for $60,000 (10% down with a $359 monthly mortgage) I'm looking to put in another ~$6,000 into the place and rent it out for $550-$650 per month (for each side) netting me around $500/month after maintainance. What do you guys think of this plan? What is Veeky Forums thoughts on cashflowing rental property?

Before all the cryptocucks come in trying to make you feel bad about yourself, I think this is a good plan. Just be aware that being a landlord is significant work; it's passive income in that you don't have to work 9-5 on it, but from time to time it will be annoying. Also, to save money you might decide to do certain repairs/maintenance/cleaning yourself, which can take up even more time.

That said, making money off an appreciating asset is never a dumb idea, and it's generally a pretty low-risk investment. Good idea for the long-term and your 30-year/retirement plan.

Landlording is for Jews and you will unironically get niggers.

I still don't understand why people don't get 1% margin at dumb ass interactive brokers and buy a diversified portfolio yielding over 3%.

You would've crushed R/E investments over the last 5/10/20 years.

Real estate is for people who don't actually understand finance, leverage, or how to manage actual risk. It's for memers like Rich Dad who think all the sunken and hidden costs don't exist.

Where the fuck can you buy property for 60k?

Shitty as fuck in the current market. Most houses/apartments take 10+ years to break even, not counting in inflation. You're literally better off owning a masternode or some shit.

where do you live?

if your potential tenants are niggers/spics/muslims id highly advicse against it

I do this.
Never tell your tenant you own the property.
Verify their credit.
Have someone who rather rent cheaply then someone who can barely afford.

Also make sure neighborhood is good. I rather have the shittest house on the block then the best on the block.

Facebook stalk/ig, facebook cell phone number look them up.

Actually verify their employer.

Otherwise you're going to have fucking drama to evict them.

If you have a shitty tenant then it sucks on you, because you're signing yourself up for a world of hurt.

Honestly just do airbnb. I make double my rental income, meet vacation assholes and cum on their sheets/don't replace sheets after every guest and still have 5*

Please link me any 10yr old+ masternodes. TIA

Thanks man. My mom told me that there are management companies that will basically be a landlord for you. Idk if she is right or not but obviously you would have to pay them monthly and take a smaller check each month. I dropped out of college after my first year and I'm hoping I can be able to cover all of my living exspense with some cash flow lol

Be wary of nogs. As an ex landlord, they can turn what seems like a simple business transaction into an untold nightmare. Beware the nogs, my son.