How much money do I need to begin?
2007-12-29 15:36:30 · 7 answers · asked by kevin77794 3 in Business & Finance ➔ Renting & Real Estate
You want to invest? Or buy a home?
Well most lenders will require a 20% down for a investment home. Some times less. Multi units with good credit most will require at least 15% down. But may be more in today's market.
My recommendation would be at least 20% down.
As far as investing in todays market. Some will tell you not to.
Well let us look at history.
in 1960`s an average new home was costing $18,500 to buy
in 1980`s the average was 105,500 to buy
in 2007 that same home is now getting the high 300,000 to buy.
Of course i`m talking about s. calif.
Can you see a trend here?
Even when the housing crunch in the 80`s it was not long before things came back.
2008 will be the flat year.
2007-12-29 15:41:00 · answer #1 · answered by Big Deal Maker 7 · 1⤊ 0⤋
This really depends on what you want to do. But you can start by getting together with lenders and using their money to start investing. You will pay a higher interest rate but in the end the house is yours and you started for free.
There are also options you can buy and sell to start building your own mba (massive bank account)
You most likely want to make money in real estate as simply and quickly as possible and can do that with real estate investment clubs. Check out this one online, it is free for the first 100 members. http://www.onlinereiclub.info
2007-12-30 09:30:43 · answer #2 · answered by onlinereiclub 1 · 0⤊ 0⤋
With housing prices on the decline in nearly every part of the USA, now is probably the worst time to begin investing in real estate. If you have to ask how much, it is unlikely you can afford the investment, let alone whether you have the aptitude to make money.
2007-12-29 15:40:22 · answer #3 · answered by Anonymous · 0⤊ 1⤋
According to the infomercials on TV, all you need is their book to become a millionaire in real estate and with no money down, yet!! With all the foreclosures in effect at the moment, those with capital are set to make good buys, which they will hold on to, rent for income and when the market is strong again, sell at a profit. That is the theory.How much you will need depends on how much you are willing to commit to the venture.
2007-12-29 15:48:26 · answer #4 · answered by googie 7 · 0⤊ 0⤋
Maybe nothing except an advertising paper. You might try this as it will only cost you advertising and if you can find somewhere to advertise for free it cost you nothing.
First advertise that you buy property or that your looking for someone looking to sell and carry the mortgage. They are harder to find but there out there. It will take you sometime and going thru more than one person probably. But this will work.
If you have enough for a first/last and security you should be able to find something but it will probbaly need work bu not necessarily.
2007-12-29 16:22:11 · answer #5 · answered by Kris Z 2 · 0⤊ 0⤋
Depends on what you want to do. First thing that you need to is get educated on the specific strategy you want to use. If you want some more guidance send me an e-mail at knowledgepowerfreedom@gmail.com and I can answer any questions you might have. Good Luck! -Morgan
2007-12-31 03:51:28 · answer #6 · answered by morgan r 1 · 0⤊ 0⤋
a lot.a couple of hundred thousand or a big mortgage on your investment........
2007-12-29 16:13:54 · answer #7 · answered by richard t 7 · 0⤊ 0⤋