They Thought Real Estate Would Be Easy…

Buying a house and turning it into a rental property is not always as easy as it looks on social media.

• Bought first house during COVID and sold it for profit.

• Used the profit to buy a new home and a rental property.

• Realized being a landlord is not passive income.

The couple bought a house during COVID and later decided to sell it and buy two houses, one to live in and one to rent out. They quickly learned that being a landlord is not as passive as it seems and requires work. The idea of having someone else pay your mortgage is appealing, but it has not been their experience thus far.

Buying First House

• 00:00:00 The couple bought their first house during COVID, motivated by a desire to 'check the boxes' after getting married. They sold it for a significant profit due to the hot market, using the cash to buy a new home and invest in a rental property.

Real Estate Expectations

• 00:01:17 There is a common misconception that buying a house and turning it into a rental is a simple path to passive income. However, the couple quickly realized that being a landlord requires effort and it is not always a guaranteed success.

Market Conditions

• 00:00:48 The real estate market in Grand Rapids is described as 'wild', with houses selling for over the asking price and cash buyers dominating. The couple was fortunate to find a house at market value, which was a rare opportunity.