I have a spare million dollars. How can I make money in real estate?

Question

How should I actually go about making money in real estate?

Answer 1

Invest for the long term, don't speculate.

Answer 2

I of course envy you. You have a million dollars - something everyone would want to retire with - and you are still hungry. Excellent, way to go!

I am wondering why you are so specific about real estate, if your wish to get the highest returns on your million dollars - perhaps make it a hundred million dollars perhaps in a few years, wouldn't you wish to start a niche business in an attractive domain and get excellent returns and perhaps even have the chance of selling your company off! Just wondering.

If you are keen only on real estate, why, there are a number of web sites where you can get excellent inputs on how to get good returns on real estate investing. I don't think an answer can be provided in a couple of paragraphs, but you might want to look at the following page for a number of useful resources - http://www.billdoll.com/dir/biz/fin/q/money_real_estate.html

Hope this is of use.

Answer 3

Hello,
I would put some into properties(about 250k or so to buy a 4-6 unit property)! Becareful with the rent rolls so that you can acutally make some money(minus management/maintenence) Then would put some into the biggest stock and bonds available(about 100k into best buy, they are doing really good now).
I would then put some into our campaign to feeding the world(us and other third world countries). We have a plan to end world hunger/ bring some people out of poverty and need investors to become ambassadors of the world. One of our francishes will gain about $250k net profit and up and places 2 people within the store to earn 35k each as long as they make a pledge in making change in the world today! This will be a new era of living how we now it now, we are looking for any takers and the benefits will be rewarded with money, fame, and a person who is diffenately making a difference in the world. You can join us, we have a very viable plan but lack the resources to make it happen today. With u on our side you will be able to turn profits by 5 fold or more. please contact us for more information when you get the chance.
Real estate is good but you have to make a very, very sound decision on where you want to be- maintence and expenses. You can flip, buy properties and fix them up & sell them, but is that what you want to do with you time? If so, okay but pick properties not in a speculative manner but a realistic manner. Once you are able to answers the questions to your self realistically then you know you are ready to move into real estate! Put up some money if it is going to make you some money back. This feeding the world and ending some poverty is the biggest bet in the world.

Answer 4

In all honesty I would advise you to put the money into tax exempt municipal bonds; tax exempt both state and federal. Triple A rated and insured; safe as the rock of gibralter. Real estate has become a house of cards and would probably suck you down into a quagmire and strip your million dollars from you and want more. If you want to sleep nights go with the tax free bonds and sky dive if you want some excitement.

Answer 5

As someone already mentioned, put your money in a REIT (real estate investment trust). Depending on your risk and involvement, you can make anywhere from 12%-100% ROI tax free (as long as the profits gets funnelled back into the REIT).

Regards

Answer 6

depending on how much you want to get involved, Look for distressed property, make sure you do your homework looking at the comps in the area, then if the price is right purchase it fix it up and sell it, you should make sure your final asking price is going to be below market value, does not have to be below much but in order to make a quick buck it must be priced right to move quick, you should watch a show called the real deal, great show that shows the dos and don-ts of real estate flipping.

Answer 7

Buy the smallest and ugliest home in a nice and upcoming neighborhood. Fix it up yourself (no contractors) - and sell it yourself (no real estate agents)

Answer 8

Buy low, sell high. Works everytime.

Enroll in Trump U. He is the expert.

Answer 9

Considering the bubble, I would buy REITs. There are some good ones.

Answer 10

location, location, location