real estate investing
 

Anyone here invest in real estate? What is your strategy?

buy low and sell high.

and buy waterfront property, cause thats the one thing they dont make more of.

They make manmade lakes all the time :)

My gf and I have a big house we live in that we bought for $156k it's worth 260k now. I want to buy a rentaland sell it when i can get a get buck.

we're currently looking around for fully managed condo units both fee simple and lease option, for both long term rentals and possibly vacation rentals if the right elements are in place.

What ever you do don't come to California. Whatever your house worth is less than the down payment I had to put to purchase my house.

I buy forclosed homes in the Ghetto. I've got 5 at the moment and haven't paid more than $2500 for any of them.

One was in such bad shape the the city gave me a $25,000 grant to put into the home to make it liveable.

My tennents are all placed via the Department of Social Services. And rent payments come directly from the state. So I don't have to deal with deadbeat renters and the checks always arrive on time.

That's my strategy. A buddy got me involved and my $12,000 or so investment brings in just about $3500 per month. Was out today looking at a few more properties.

same with the islands unfortunately... $260k won't buy you a wet cardboard box here.

Great. This is exactly what I want to get into.


ThePornPusher :thumbsup

I was thinking of buying a couple cheap rental properties $100k or so for each

My strategy is to invest in REITs.

"buy low and sell high. " - look like very easy :)

I'll assume you have something to put down. 20% is typical. If not, candy's idea looks good.

One very important thing. You want to do business with the commercial real estate brokers, but you do NOT want to sign any "buyer's contract" with them. (Once they lock you in you're fucked if they don't do their job. If they insist, tell them you'll sign, but it expires in a week instead of 6 months.)

Make yourself a list of commercial real estate brokers in your area, and once a month or so call them to ask what's available in your price range. If you've got $100K, you'll be looking at $500K buildings. Cash flow should be significantly positive from day 1. ($36K/yr net positive with $137K down was the last deal I looked at.)

The reason you do this is because the best properties are not advertised. You gotta bug the brokers before they will remember you. A bit of luck - like calling at the right time - doesn't hurt either. After you've done a few deals they'll all know you're serious and then they will call YOU when something good come up.

One of the really really cool things about owning real estate is that on average it goes up 7% every year. At least it has for me since I started in '76. That $500K building appreciates $35K/yr just for existing. That's money you'll see one day when you sell.

Lease with an option to buy _commercial_ property then find a long-term commercial tenant with a good credit rating. Investors love commercial because of the no-hassle factor.