#31
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Re: Thinking of going into real estate
Just ordered the ABCs of real estate, gonna read it and think for a while if this is the thing for me.
At the moment it sounds like a lot of fun/something i might be good at. However im still allmost at 0 so it's hard to say.. |
#32
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Re: Thinking of going into real estate
Ever thought of buying farmland in Iowa?? I know somebody who can hook you up!!!
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#33
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Re: Thinking of going into real estate
[ QUOTE ]
Ever thought of buying farmland in Iowa?? I know somebody who can hook you up!!! [/ QUOTE ] Not a bad idea it appears........... http://www.nuwireinvestor.com/articl...ces-51132.aspx |
#34
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Re: Thinking of going into real estate
Just keep banking your 20-30k month playing poker. What more do you need? You are several years late to the party, but at least you don't have to deal with the hangover that many people are about to face.
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#35
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Re: Thinking of going into real estate
Tien,
Can you outline some strategies that you use to find and purchase real estate below market value? Also: Where are you located? Thanks, CM |
#36
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Re: Thinking of going into real estate
I use very aggressive strategies that may be uncomfortable for most people to use.
I have direct mailing campaigns that target: 1) People defaulting on mortgage payments. 2) Successions / Probate / Dead people / Inherited houses (all the same) 3) Expired listings I don't really spend much money on those newspaper ads and whatnot anymore, direct mail is hands down my favourite. I am going to soon be opening my direct mail campaign to burnt out landlords of multiplexes. My method of investing in real estate is not the traditional method and most people won't be comfortable with it. It's not easy to find properties that are below market value if you are not aggressive in your approach to finding real estate deals. I am located in canada, Montreal. |
#37
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Re: Thinking of going into real estate
Tien,
Thanks for the info... I think most people that can actually call themselves "Real Estate Investors" would have no problem at all with your methods. I always find your posts interesting and informative..thanks a lot! CM |
#38
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Re: Thinking of going into real estate
[ QUOTE ]
I use very aggressive strategies that may be uncomfortable for most people to use. [/ QUOTE ] As much I love Warren Buffett's philosophies, mad props to you [img]/images/graemlins/cool.gif[/img] |
#39
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Re: Thinking of going into real estate
I think that Tien's comments are exactly right. One thing to consider too is that landlording is not a hands-off investment strategy. In smaller properties you manage tenants and properties (maintanence, etc). In larger properties, you manage managers and staff. Bad managment will KILL you as an RE investor. In small properties, bad management causes you to lose money b/c you can't attract the best quality tenants. Same with large properties, but add that a bad manager can also rob you blind.
Something to keep in mind. |
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