anyone here ACTUALLY made $$$$$$ on real estate?
people keep telling me to get into real estate while im young, duplexes, etc. buy income bearing properties. but they are all old broke alcoholics, i prefer to take financial advice from the wealthy 
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Roll that shit, light that shit,
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i used to have real estate agency
we did rents mostly, there are lot of money to be made, but the competition is very HIGH as well -
I've just bought a house 2 months back and now the value of it has increased by 30kComment
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yes, I do it all the time
but wait, I could be an old broke alcoholic
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Most people get wealthy in the US thru real estate... if you have enough rentals, you'll be easily making a few thousand a mth. The only thing about real estate I don't like is that it ties up $$. Long term tho, you can't go wrong... if you buy smart
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Right.
Real estate is a long term investment. You can benefit on the short term with rentals, but once you start hitting the 10/20/30 year marks you are cruisin'. It ties up a lot of capital, but in the end will give it back with appreciation.
It's not a get rich quick scheme.
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There is no profit in real estate.You need to buy apartment for 70000 EUR minimal and you can rent if for barely 250$ which is nothing.Comment
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Real Estate is tricky, with the laws in favor of the tenants it really is a craps shoot. I had issues with a tenant that dragged on for sometime and hit me hard in the pocketbook.
Rental properties are a great investment, if you have a strong stomach and some extra money for lawsuits.Comment
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Been in real estate for 7 years....Key to real estate is knowing when your financial situation can handle getting in. Sometimes it's a quick deal, but most often you have to be prepared to stay for the long term. Historically, atleast in the US, it is physically impossible to lose money on real estate if you simply buy and hold. If you're looking for rental opportunities look to 4+ units in a building. Single Family homes to 4 units typically don't get enough rent in the current market to be positive on a monthly basis without a large down payment.
(Yes, there are exceptions, but remember exceptions don't come everyday)Comment
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