Re:Ask HN: What is your passive income 2019?
by ricky1477 on Tuesday October 29, 2019 @01:41PM
(#21389913)
Semi passive rental income - one unit. Looking to acquire more and retire in 4-5 years. =) failed at monetizing my side projects in a scalable way
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Re:Ask HN: What is your passive income 2019?
by g2ah5z on Tuesday October 29, 2019 @02:25PM
(#21390480)
Same, although I have four rental units and one AirBnB. I wasted years of my 20s trying to come up with a monetizable SaaS product until I realized that I could earn passive income through "boring" businesses like rental properties.
Now that I've had a taste of passive income through real estate, I've come to despise the tediousness of writing software. I can barely bring myself to do it anymore now that I don't "need" the income from my job to survive. My plan is to keep acquiring rental properties over the next fews and then quit the tech industry for good once I have enough to live comfortably.
Re:Ask HN: What is your passive income 2019?
by sourc3 on Tuesday October 29, 2019 @06:46PM
(#21392911)
I am in a similar position and would like to know how you got started with rental units. Are you using a property manager like it was mentioned in a previous comment? Do you recommend AirBnB vs. long-term rentals?
Re:Ask HN: What is your passive income 2019?
by ricky1477 on Wednesday October 30, 2019 @10:30AM
(#21398138)
I used equity from my primary residence to finance my first investment, since I couldn’t find other means of financing. I don’t think my area would be good for AirBnb although I haven’t tried, should probably read more about it. I am doing everything myself for now, since I get better ROI, but will probably move to prpty mngmt once I have more properties.
Re:Ask HN: What is your passive income 2019?
by g2ah5z on Wednesday October 30, 2019 @11:53AM
(#21399058)
I self-manage since my properties are in the same small city that I live in. It's not the much work. I love AirBnB but you have to be careful with it - a lot of towns and cities have outright banned short-term rentals or at least made it very difficult to operate them legally.
Re:Ask HN: What is your passive income 2019?
by ricky1477 on Thursday October 31, 2019 @09:38AM
(#21408558)
A coworker who lives in PA sold his unit after laws were changed that would no longer allow his AirBnB to be profitable. He would have to add a sprinkling system and other things that cost 30k+