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by insane_dreamer 318 days ago
> "mortgage + tax liability + chunk of profit usually 25-50%"

25-50% is absurdly false.

We own a second home which we've rented out for years (wasn't the original intention, but anyway ...). The rent covers mortgage, taxes, and upkeep. Profit is minimal, less than 10%. Once you factor in eventual renovations, like replacing the roof, floors, etc., there is no profit at all, or very little.

1 comments

Go read the briefs from the Realpage lawsuit, and maybe you won't consider me much the fool.

I keep getting anecdotes as some sort of glorious rebuttals. No matter. When the people are at their last end and the guillotines come, I will not shed a tear.

Please point me to the brief documenting that those landlords are making 25 - 50% profit.

And I see you showed your true colors with your second comment. I'm sure if the revolution you're praying for actually comes, you'll definitely be in the vanguard!

enjoy the show!

irrelevant fun fact: people think that the vast majority of those who were visited by Mme La Guillotine during the French Revolution were nobles. In fact, the vast majority, ~85%, were from the "third estate" (commoners, which also excluded clergy).