Why do the majority of investors love the housing market? Is it because they love being a landords? or is it because they want to give renters a good place to live.
The truth is the majority only care about one thing. That thing is called money.
Most people who buy second homes buy it because they heard that they can easily rent it out and get a nice monthly income for the rest of their life and barely have to do any work.
WRONG! They are so very wrong and most learn the hard way.
Being a landord is a lot of work. You have to keep up on the maintenance and your tenants might call on you after hours or in case of emergency.
There is so a high chance that you may have to chase your tenants for rent. depending on the circumstances of the economy or the tenants themselves they may lose their job and not be able to pay for next month’s rent.
you may have to go through the process of evicting someone. and going through the process of evicting someone is very difficult and time-consuming and considering the government’s side with the tenants and it might just be not worthwhile going through the process.
I’ve seen a previous landlord go through the process of trying to evict someone. After 6 months he did not get anywhere. Eventually the tenant was angry and destroyed the property on purpose. He would have to go through the courts again to try to get money. but since the tenant does not have any money and bad credit it was not even worth taking them to court.
Talking about bad tenants. shall we talk about bad landlords? considering a lot of the people who purchase second homes only bought them because they thought it was easy money. Once they’ve realized that it’s not so easy and it requires a lot of work they decide not to do a lot of work to the house in order to keep costs down. A lot of property owners also do not even live in the city where they purchase the home.
Treating homes as an investment has ruined the housing market. It has made it unaffordable for most and it has made old homes that should be demolished sell for ridiculous prices.
But Bitcoin will change this.
Once the sheep realize that that buying and holding Bitcoin is a much better investment and that no maintenance is required and that Bitcoin will continue to slowly go up forever providing better returns and safer returns than the housing market. They will all flock to bitcoin.
Billions around the world and possibly trillions will flow out of the housing market and into Bitcoin. It would even be a better investment to rent a cottage for vacation for however long you needed then to buy a cottage.
Let someone else waste their money on maintaining a cottage. It would be wiser to keep your money growing in Bitcoin.
Remember Bitcoin will let you retire a second home won’t.
Once this starts to happen there will be literally thousands of homes up for sale at cheap dirt prices. Many of those homes the sellers might even ask for Bitcoin. As we have seen recently there have been houses for sale accepting Bitcoin.
It does not look good if you have a second home as an investment. If you are reading this I would suggest sell your home and drop that money into Bitcoin before the sheep wake up.