does anyone have any good advice for a young person who has no experience and not sure how to go about investing in real estate fixing up property the best way to go about that and to learn how to do it as cheap and effectively as possible and where i can find information on how to do that?
thank you
2007-01-14 23:17:37 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
No matter what business you decide to go into, make sure you have the proper experience.
Open a restaurant? - Manage a restaurant for years to learn that business.
Flip houses? - Work for a re-hab crew doing work on houses so you'll know when looking at a house what the fix-up costs will be. Also, work as a Realtor or for a real estate company so you know values of homes. Cannot buy low, sell high if you don't know what they're worth.
2007-01-15 02:29:48 · answer #1 · answered by teran_realtor 7 · 0⤊ 0⤋
Invest in a low cost no load real estate fund like vanguard REIT. Imagine being able to jump in the real estate market for just $3000!! Also these funds invest in a range of RE companies ranging from houses, apartments to malls and office property. This spreads out the risk of a real estate slump rather than buying your own house and suffering a loss.
2007-01-15 04:45:07 · answer #2 · answered by sd2099 1 · 0⤊ 0⤋
If you're looking for cheap, go to the library and borrow some real estate books and learn. See which way is right for you. First things first, learn how to get capital then decide whether you want to do rehabs, foreclosures, duplexes, condos, tax liens, etc. If you are starting out, I suggest taking a safer route of 12-18%/year return using tax liens. That will get your feet wet as your getting money from properties but you're not technically owning it (hence, no liabilities). See the book below for more info.
2007-01-17 06:36:38 · answer #3 · answered by John Rosa 3 · 0⤊ 0⤋
I had a realty license and a few dealers used that in opposition to me. They inspiration that their apartment have got to be asking too low a fee if i desired to shop for it. I could have performed higher if i didn't have a license. But the license offers you entry to the Multiple Listing Service and also you get to community with hundreds of thousands of alternative sellers and agents. Try to shop for one million estate with out the license and notice how that works out..
2016-09-08 01:09:42 · answer #4 · answered by alia 4 · 0⤊ 0⤋
Have you considered real estate investing mentorship?
PM me if you would like more information,
-Angela
2007-01-15 04:56:48 · answer #5 · answered by Biancoa 4 · 0⤊ 0⤋