>>72420980
Yes because you're putting up 100% of the capital.

>>72420980
It's smart.

Why not. It's your shit.

>>72421028
He's got a point. Furthermore, whoever was getting paid and felt it unfair can place the blame squarely on their own lack of negotiation skills.

>815k
>divided by 10
>81k a year

You know this does seem pretty low for managing a fucking billionaires assets, but it's his own fault not asking for more. 2bh he probably doesn't do a tremendous amount. I'm in PM and I just kind of wait around for shit to break.

>>72421265

OP isn't factoring in maintenance costs for 125 units, or taxes either.

>>72420980
As someone who was in a different industry but had a similar arrangement and was the worker I'd say no, but it's also on the workers shoulders to negotiate his salary so it's a two way street.

10% of 815k is still really good though. Just be aware that one day he might leave and, if he's good at what he does, you'll be fucked. The quality of your properties will go down and you will make less money. You'll reach a tipping point where you are losing more money than if you had just paid him more.

>>72421375
its 815k net

>>72420980
zero risk and ten percent of the profit….

i don't know why i bother replying to shit like this

That's fair. It's also my fuckin dream to pay someone to do my work. You're very lucky op.

Manager gets a decent wage out of it, and wouldn't be able to do what he's doing without his employer having the properties in the first place. He can eventually build up the capital himself to do something similar, if he's lucky and clever.

180 a year is hardly Soros or Koch brothers level, so it doesn't immediately threaten the security of the state or whatever yet!

For the tenants, well, that would depend upon the standards of the properties and the rental agreements, which we have no info on. Obviously, if we start hitting slumlord levels of behaviour, we have a problem.

For society as a whole, if the local council is sensible and doesn't allow too much rented property in given neighbourhoods, it should be fine for the community too.

>>72420980
Look at it this way.

1. You could easily do the job yourself.
2. You own the capital.

It is fair.

>>72420980
Should a property mgr really be making $80 grand? He needs a pay cut

>>72420980
>fair

why are people such pussies now
when I was young one of the lessons you were taught was LIFE ISN'T FAIR

>>72421476
Smartest person on /pol/

>>72421476
>i don't know why i bother replying to shit like this

Where else are Canadian 12 year olds going to get a basic education? In their LGBT-indoctrination centres, formerly known as schools? We are all performing a public service here. ;)

>>72420980
>Is this fiar?
Did the property manager pay for the houses take on the initial risk?

fair but stupid. Put your money in Vanguard funds.

>>72421551

this

80k for listening to tenants bitch, then charing you to fix their problems?

too much. drop that down to 50k and even that's high.

>>72421632
to be fair to me this is an inherited business and I don't have a father anymore to ask about this stuff so sorry spain

>>72420980
if you don't like renting, buy a fucking house instead

>>72421779
>
it's OK leaf, he is angry at the fatman not at you

I own 25,000 acres of land and I made smaller subplots of land upon which I allow peasants to farm. I collect 15% of their grain, 10% of their livestock. IN times of war I take whatever I need and their sons.

There is a village in the land and I own all the houses. The church doesnt pay me anything but they serve a useful role that pays in the end. The small businesses in the village pay tax.

Is this fair?

>>72420980
No, but the world isn't fair, so why dwell on it.

815000/125/12= ~534$ per month per house. Sounds like a reasonable amount of rent I guess depending on the region. He's probably paying off the mortages per house at I dunno 400$ a month leaving him 134x12x125= ~200k minus the 85k he's paying the manager leaving him 115k income per year maybe. Depending on the house prices and how many years it takes for him to pay them off (30 years?)

>>72421784
This would be that correct answer if not for the fact that people buying 125 houses and renting them out causes the average house price to be ~15 years worth of average wages.

>>72420980
It is if he accepts the 10%

first off, that guy does not do 100% of the 'work'. No one could do all the repairs ect.. on 125 houses. What he does is visit them if there is a problem, and calls the people who are going to fix it then sends the bill to the owner. He may take care of some minor repairs himself. he may interview new tenants when old ones leave. he makes 85k a year to do this.

if you know anything about being a landlord, there is so much that one person cannot do by himself. sometimes you are lucky to break even with all the repairs, but most of the experience i have is with older properties.

>>72420980
The property manager can make his own decisions. He agreed, so it's fair.

>>72421404
That's awesome bro, and there's a lot of people who would love to have that job managing your properties for 80k a year. That's about four times more than I made in my last job, which I lost anyway.

Don't get over your head in debt buying properties, because a crash in the price of real estate could wipe you out (if you have too much debt, overextended buying properties)

>>72421779
Hehe, it really is you? I thought it was hypothetical. Well, fair enough.

My father is a landlord on a smaller scale, and does it all himself. It is a pain in the arse, keeping track of all those tenants and houses, so the manager deserves a decent wage out of it.

In terms of fairness on a wider scale, this depends on whether you do productive stuff with what you earn. I'm not talking about childish SJW "fairness", but old-fashioned civic and national responsibility. Blowing it all on hookers and cocaine is obviously not part of this. :D If you support positive initiatives in your local area, provide employment, and use your leisure time to help make the community you parasi.. ahem, earn from into a better place, then sure, go ahead.