Re: Real Estate people: I want to buy a house, advice?
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Sure, if you found the right deal. On the other hand, if you found a juicy deal, why not just flip it in three months and take the profit and use that to flip another one? Why sit on $70k for 2 years when you could take that $70k and make anther $30k. Then you could take that $100k and do 2 $30k deals simultaneously. Then you could take that $160k and buy and flip a 20 unit apartment complex for another $160k profit. You see what I'm getting at? In two years you could do a hell of a lot better than $70k if you want to get into the flipping game.
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spex, what kind of experience do you have w/ apartments? from your posts (which are usually very informative) ive only seen you mention residential w/ the exception of the mobile home park you were considering. im curious about your commercial experience.
one reason i ask my friend is a commercial real estate broker and runs his own biz. we've talked about going in on a deal together down the road. initially we spoke about a small apartment but he tends to think there's better money in storage units.
he says the best deals he's seen in the biz are on a small place w/ extra land and high vacancy rate, build extra units and lower vacancy rate and sell. timeline would be 1-2 years. any thoughts or experience w/ this?
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