Real Estate Business
 

Is anyone doing this?

Let's say you buy a home and then you rent it out to other people.

Buy a home, wait for it to appreciate and then sell it.

Buy home, renovate then sell.

Any other ways?

Well I just bought a house. Plan on redoing and living in it for about 5-10 years then selling and buying something else.

Congratulations on buying house.

So, are you saying you bought the house at the full price?

Or, did you make a downpayment and get a mortgage?

Uhhh I'd say maybe 10% of the adult population of developed countries probably dabble in real estate? You're not looking very hard! :D

Buy a home, install webcams in all the rooms, let four hot girls live there for free, charge $19.99 a month for people to check out the live cams.

So, what you are talking about is a reality show of some kind with cameras that are inside the house, interesting.

Renting out your house for a day or two like a hotel of some kind (but cheaper than a hotel) - this could work also.

Happy tenants look after your property since it's a home to them. "Day stayers" won't give a shit.

Reality show with a adult twist. The girls fake like they don't know about the cameras. They eat, drink, shower, fuck and suck. The members can follow them from room to room.

I "flipped" a house once. We bought it, renovated it and resold it. It took about 6 months total from the time we bought it until we sold it. Part of the reason it took so long is that we didn't know what we were doing so we just kind of winged it. The other reason is that I did this with some friends, all of whom have regular jobs, so they either pawned stuff off on me because I work for myself and they felt like I had the extra time or they just didn't feel like working after spending 8 hours at their regular job. Eventually we got everything done and selling it was actually the easiest part because it was in an up and coming neighborhood with good schools, but it was a major pain in the ass.

Some day I might do it again, but I would plan it better and make sure all the details were taken care of before we started anything. This was about 7-8 years ago though. I'm not sure I would try it in the current market. Although if you could find a killer deal and rent the property out for 3-5 years then sell it when the market has returned it could provide some nice extra income.

This depends on a ton of factors.
1. What you are buying
2. How you are buying it
3. Why you are buying it
4. Where you are buying it
5. What you expect to get out of it
6. The laws, bylaws, regulations, HOAs, etc etc etc of the location
7. Capital you intend to put in to it
8. Capital you HAVE to put in to it
9. Problems that arise
10. Market
and on and on and on....

It's not a game. You can lose more than your shirt.

:2 cents:

A reality show kind of like this was done in Russia. It was called "The glass house" or something like this. Everyone could see inside the house like it was made of see-through glass. Users logged in to see what was happening in the different rooms of the house.

then you would be a landlord and the people you rent to will complain to you when something breaks or not working...and you will need to get it fixed. Also a lot of people out there don't give a fuck about other peoples property and might destroy your house...your investment.

My friend owns a building by yankee stadium...some people just stop paying the rent and it takes 6 months for the courts to evict them...and then on purpose they set the apartment on fire. Then his insurance company dropped him.......

good luck renting out your home. :upsidedow

That is true. Renting out to trusted friends could solve this problem.
Just like giving loans to trusted friends who I know will give the loans back.
But, for now I decided not to give out any loans.

That might be faulty logic as well. In my experience the few times I have loaned money to friends and/or family it has taken forever for them to pay me back. I think it is because they fell like since you are a friend/family it isn't a pressing and if they know that you aren't in dire need of the money they have less guilt. I guess they assume you won't come after them like a regular company would.

A friend of mine rented a house to his brother and about 2-3 times a year his brother would call him on the day the rent was due and tell him he was going to be a few weeks late. So he would have to pay the house payment out of his pocket. Eventually he had to ask his brother to move out because of this and it really caused a rift in the family for several years.