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Investing in real estate
 

Hey everyone.

Ive been selling on ebay for about 2 years now , i save up some money and just spend it on car parts and other stuff that looses its value.

Ive been thinking of investing in real estate lately, but my market in nyc is not for newbies, im thinking of going to nj or pa for some properties,
I know a couple of members on here have mentioned investing in properties as well, ive been listening to bigger pockets podcast too.

Do you guys looks for deals on the mls or just go to local property auctions for deals.

Thanks

Re: Investing in real estate
 

i do in nj... i have own license.

Re: Investing in real estate
 

Real estate is iffy.. while yes you can make money, it's not one of those things that require no time or upkeep. You have to be on top of your properties otherwise you could be looking at very costly repairs.

I try to buy as cheap as possibly because that's where you get your return. I don't really make money on the income rent provides (it just covers mortgage, tax and yearly repairs). I make money from the house increasing in value.

I do like it though. I just wish I didn't own so many houses because now it takes more of my time.

Re: Investing in real estate
 

real estate is the one the best things to have/ invest.

if you do it right, you can get it for free. and it is fun.

Re: Investing in real estate
 

Not sure to follow what you mean by getting it for free.

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Re: Investing in real estate
 

I did wonder that myself....

Re: Investing in real estate
 

Well, you can have hard money lenders that pony up most if not all of the capital to purchase and than flip the house for a profit (paying off the hard money lender in the process), thus not needing money to invest. It's a high risk game but it can be very profitable.

Re: Investing in real estate
 

I have a small four plex apartment building, i like apartment renting over house since the renters are closer than having 4 houses around the city, it makes picking up the rent easier and faster. But to my knowledge houses increase in value more over apartment buildings.

I started with single bedroom apartments, something small so that I can build up experience with property investments. If you start, make sure you take some classes on Landlord-Tenant Laws on the federal and local levels, you will need to know those, if not, you run the risk of lawsuits. Just like their is professional buyers on ebay, there is professional tenants that know that law and will take advantage of it.

This building provides a small profit after expenses every month, they are only single bedroom so its small. The money comes from having more and more buildings, either house or apartments. Over time, you can find a management company to manage your properties, average fees are 8-12% of the rent they collect.

Re: Investing in real estate
 

I'm a property developer and I'm selling up. Don't buy anything before the next crash. 2020 to 2022. 2007 was just the horderve this will be the big one.

Re: Investing in real estate
 

I was thinking about that recently..

It seems property prices have jumped maybe 20% in the last couple years. It's crazy!

I'm thinking about purchasing a new place but you say not to for a few years? Hmm.

You think now is the time to unload on properties or wait 1-2 years and than unload?

Re: Investing in real estate
 

I would agree with that. It feels like one is due in the next couple of years.

If it will be worse than 2007 I couldn't say that is the job of economics and mystics. Both have about as much chance of getting the prediction right

Re: Investing in real estate
 

depends on the Country market, lower prices too where there is over-building like some of Spain and florida but at the same time you can still lose on it and the prices might not go up much longterm, you can pick up for not much as market goin nowhere.

I have some properties in UK and abroad, the UK ones have made their money just standing there...one made over x2 in 10 years, but I would not touch the UK market right now, too inflated...no idea if a big crash coming, but I agree there has got to be a correction...

I got rid of a Turkish property before the prices dropped there, but I bought it cheap so not too many issues...

PS - like the spelling of hors d'oeuvres

Re: Investing in real estate
 

Thanks for all info ppl,

Same reason im not going all in yet, i know there will be a crash soon, mortgage rates have been really low and home owners have been paying more than value of property cause of easy lending and low intrest, the investor looses in a situation like this.

Going to hedge by buying silver now,

Just like when in 2008 crashed happened, by 2011 silver was trending at $50

Right now its at $15 and when the next crash occurs this metal is going to explode.

Where do you ppl sell back your silver, its always a 10% loss when selling back to market.