[jjav]

> becoming a landlord is the most reliable path to easy wealth

I think anyone who thinks that, has not actually tried buying a house to rent it out (or thoroughly done the numbers at least).

> provides both enough cashflow to cover costs and interest servicing

Here's the problem, it does not. Try finding a property that you can buy and then rent for more than your total costs. I've been looking for more than 10 years and have yet to find such a thing. Maybe price/rent ratios are different in New Zealand.

[BirdieNZ]

I can't speak for everywhere in the world, but in New Zealand it has usually been possible to cover total costs with rent. It's not possible right now due to higher interest rates. I believe this is common in many other countries (e.g. Australia, Canada, UK etc.).

This suggests it's common in the USA too: https://www.moneypenny.com/us/resources/blog/how-much-renter...

[jjav]

My neighborhood has several hundred pretty cookie-cutter houses so not a lot of variation.

Except for the few largest models, rents are right around $4000/month +/- a few hundred depending on amenities and lot size.

To buy one of the average neighborhood houses you're looking at tying up ~$240,000 in a downpayment and then you'll have an ~$8000/month expense. That's just mortgage + insurance + taxes. If you wanted to rent it out you should also allocate some extra each month for a maintenance fund. And if you need help managing the renters, a property management firm will take ~10%.

If you were thinking of buying this for an investment for that sweet profit landlords supposedly make, you also need to consider the opportunity cost of that 240K downpayment. It could've been earning a safe ~$1K/month or so.

So... I need to be able to rent out this property for about $10K/mo just to barely break even. But I can only rent it for $4K/mo, maybe $4.5K/mo tops. There's no profit to be made here.

This is just one example but I have hundreds of these over the last >10 years from my county. I grew up hearing how owning rental properties was the road to riches so I always wanted to get in on that. But as I keep looking at the numbers for years and years, the reality is that it is exceedingly difficult to find any property where you can make money by buying it and renting it out.

The people I know who are actually making profit from renting properties are either because they inherited a free house, or older folks who lived their house for 30+ years and paid it off, moved to a small apartment and rent out their old home.