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Better do your homework. In both professions the training lasts about 8 years AFTER you've obtained your basic college degree. The current average US salary for an endodontist is $194K and that of an OMFS is $248K. You've got a long way to go and although having high goals is admirable, I wouldn't be thinking so far in the future where owning properties and being a landlord is concerned. As I mentioned earlier, the answers to your initial questions can be found by reading the thousands of posts on this forum.
What an incredibly naive statement! Tomorrow I'm having to file an expensive eviction suit on the single rent house that we have left. It will easily take five to six months to recoup the lost rent, legal fees, transportation costs and damages to the property. And too, my rent problems are in west Texas, a place that is very pro-landlord. I can't imagine wanting be a landlord in NYC. It would take the threat of a firing squad. (In my mind I hear a cowboy around a campfire and a chuckwagon saying, "Git a rope!")
BTW, I wasn't stupid enough to elect this profession from hell but instead inherited it.
To clarify, I have no interest in little homes. I'm talking multi-million dollar complexes, where economy of scale mitigates the repercussions of the occasional awful tenant.
I had to rent the first house my wife and I bought to qualify for a new one. After 3 years of renters, that was it! I hated landlording and knew then I would never attempt such again.
To clarify, I have no interest in little homes. I'm talking multi-million dollar complexes, where economy of scale mitigates the repercussions of the occasional awful tenant.
Economies across the U.S. anymore can vary as much as they do across national boundaries. However, I think any LL on here would be very hard pressed to say they can get $450 to $500/ month out of a $17,000 house and consistently have people knocking on the door before the house is even cleaned for the next tenant. I just took a call while I was preparing this message. It's not the money that I am talking about because rentals can be great money if you owe the bank nothing and especially if it is only supplementary income. It's the occasional really bad tenants that can make the money seem pretty insignificant. And if you are thinking that your employees will handle these bad situations, good luck staffing up with responsible low-paid employees anywhere.
At any rate, I and I am sure others here, sincerely wish you the best of luck in your endeavors.
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