Lux Investing
Real estate investing.?
I would like to get into real estate where should I start? What I'm really looking for is advice since I'm not sure what type of real estate investing I will be doing. Any good websites, books, or etc that you can recommend? What type investing should a "beginner" get into? Thanks, 10 points to the best answer.
Public Comments
- Run for the hills. The market is way to unstable for a beginner to be getting in right now. I am an experienced investor and am struggling. As are many of my colleagues. Wait a year and then look at it then. As far as books, I have read them all and the bottom line in them is buy low and sell high. Trust me, it is easier said than done.
- do you have a large deposit already saved to put down on your investment? I think a duplex or four-plex would be good to start with, and you live on the premises.
- i dont no much im just a kid... my best advise would be GOOGLE, or go 2 your local book store and buy a view books about real estate investing. thats what would help you in your career the most. if i were u i would raise money 2 buy a forclosed house and double the price on it 2-5 years from now...no guarentee
- Save up enough money to buy a second house. My advice is to buy a "fixer". You'll pick up the house for really cheap that way. Don't buy a house too junky that it's not fixable. Then hire a couple of workers to fix the lawn, repair damages, and make the place look nice. This will probably cost about $5k. Now this is what they do to typical houses on the market and spend about $5,000 - $8,000 fixing it up, then mark the house up about $50,000. Then rent the house out. (Since the market is down from people not being able to afford houses, there will be more renters rather than buyers). Then take the money you get from that house, and invest it in another and do the exact same thing. Then with another, and keep going if you wish. Then after years of investing, you can sell all of the houses when the market goes back up and relax. :) Hope I helped!
- I suggest that you reaserch tax deed s and tax certificates as far as investments go you have a better return on your money and you might just end up owning the home for tax money due if the current oner or owners dont pay there taxes . this is not a easy field to start in but there is help, and can be very rewarding with some effort on your part
