Getting into real Estate... - GoFuckYourself.com

RightHandMan · 11-20-2005, 08:54 PM

Im closing tomorrow on my first investment property. Anyone on here tonight that dabbles in real estate investing, got any tips, warnings, or "e-book material" i could read, i cant sleep...

Heh

emthree · 11-20-2005, 09:02 PM

Nice, if you dont mind me asking what % was the flip?

$5 submissions · 11-20-2005, 09:03 PM

Best of luck, bro! Where is the property located. Ultimately, real estate is a great long term investment.

Young · 11-20-2005, 09:03 PM

what kind of investment property? is it a fixer upper? you renting it out? or are you sitting on it hoping the value increases?

RightHandMan · 11-20-2005, 09:10 PM

I bought it 3 months ago, sunk $750 into paint/cleaning, and some landscaping and am about to flip for for a 10% profit for what I bought it for. Its not that expensive of a place, but im still going to make some pocket cash.

It is located in northern cincinnati.

mastamindz · 11-20-2005, 09:20 PM

I just started. Bought my first rental last month and keeping my eye out for another.

bringer · 11-20-2005, 09:22 PM

id avoid buying anything now to flip. interest is going up and prices arent moving down much so until they do id hold off.

NickJ · 11-20-2005, 09:27 PM

homes are still good investments. condos are risky if you can't keep them for at least 2 years. Find out what property taxes are and get a mortgage that will let you make the payment yourself. If not they will hit you with first years, second years, and 16 percent pad at the sime time which could double your payment...

aflex · 11-20-2005, 09:30 PM

im anxious to get a rental property.. the NJ/NY area is so expensive though..

swingingina · 11-20-2005, 09:45 PM

its alot of fun

mb · 11-20-2005, 10:00 PM

day late and a dollar short...

a major housing crash is occurring RIGHT NOW... '06 will be a bloodbath.

I've been following the trends religiously for the last year and it's looking terrible right now.

DaddyHalbucks · 11-20-2005, 10:06 PM

Hard to say. Alot depends on how much you paid, and for what, but, in general, I wouldn't touch RE right now.

The crash has started.

wdsguy · 11-20-2005, 11:57 PM

are you looking to buy rental properties or to flip them? give us more info.

TheJimmy · 11-21-2005, 12:00 AM

Quote:

Originally Posted by mb

day late and a dollar short...

a major housing crash is occurring RIGHT NOW... '06 will be a bloodbath.

I've been following the trends religiously for the last year and it's looking terrible right now.

You must be following the Donald lately...He was just on Cavuto the other day worried about a crash & a depression & all that gloom & doom stuff.

06 might just be a bloodbath, just wondering how bad, from a RE crash and/or the Bird Flu...

Tat2Jr · 11-21-2005, 12:11 AM

Quote:

Originally Posted by mb

day late and a dollar short...

a major housing crash is occurring RIGHT NOW... '06 will be a bloodbath.

I've been following the trends religiously for the last year and it's looking terrible right now.

Yep.... seeing reduced signs on the top of all the for sale signs now, and seeing open house signs everywhere during the weekends.... haven't seen an open house for years and years down here in socal.

fuzzylogic · 11-21-2005, 12:13 AM

u should invest in virtual realestate. it is far more lucrative.

$5 submissions · 11-21-2005, 12:56 AM

Doom and gloom aside... BUYING and HOLDING Real Estate for a LONG (I mean over 20 year period) should put many people on the PLUS column. Of course, crap can still happen (see Japanese real estate market from late 80s to now)

Maxy · 11-21-2005, 04:13 PM

Quote:

Originally Posted by $5 submissions

Of course, crap can still happen (see Japanese real estate market from late 80s to now)

Yeah that is certainly fucked.

David - PG · 11-21-2005, 04:28 PM

Read these 2

and get out asap. Thank me later.

David - PG · 11-21-2005, 04:32 PM

Quote:

Originally Posted by RightHandMan

Anyone on here tonight that dabbles in real estate investing

You seriously think people in this kinda overheated market just "dabble" in real estate while making any type of significant return without taking on shitloads of risk and liabilities?

Oh wait it's GFY, so yea... it's definitely a piece of cake. Everybody here has dozens of condos and office buildings, financed with OPM 0% down making millions every year in rents and of course appreciation.

Dalai lama · 11-21-2005, 04:34 PM

I wish you best luck

Big Red Machine · 11-21-2005, 05:34 PM

Quote:

Originally Posted by RightHandMan

I bought it 3 months ago, sunk $750 into paint/cleaning, and some landscaping and am about to flip for for a 10% profit for what I bought it for. Its not that expensive of a place, but im still going to make some pocket cash.

It is located in northern cincinnati.

Lets say you put 20% down then make 10% = a 50% return on investment.
Sounds good I hope it works out for you

Before the End of the World. In my area I do see houses sitting around longer. Most likely cause those sellers are asking way too much

11-20-2005, 08:54 PM	#1
RightHandMan Confirmed User Join Date: Jul 2003 Location: Ohio Posts: 1,694	Getting into real Estate... Im closing tomorrow on my first investment property. Anyone on here tonight that dabbles in real estate investing, got any tips, warnings, or "e-book material" i could read, i cant sleep... Heh __________________

11-20-2005, 09:02 PM	#2
emthree Dialer Kingpin Join Date: Jun 2003 Location: New York Posts: 10,816	Nice, if you dont mind me asking what % was the flip? __________________ • Sell Patches & Pills •

11-20-2005, 09:03 PM	#3
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Best of luck, bro! Where is the property located. Ultimately, real estate is a great long term investment. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

11-20-2005, 09:03 PM	#4
Young Bland for life Industry Role: Join Date: Nov 2004 Posts: 10,468	what kind of investment property? is it a fixer upper? you renting it out? or are you sitting on it hoping the value increases? __________________ ★★★

11-20-2005, 09:10 PM	#5
RightHandMan Confirmed User Join Date: Jul 2003 Location: Ohio Posts: 1,694	I bought it 3 months ago, sunk $750 into paint/cleaning, and some landscaping and am about to flip for for a 10% profit for what I bought it for. Its not that expensive of a place, but im still going to make some pocket cash. It is located in northern cincinnati. __________________

11-20-2005, 09:20 PM	#6
mastamindz Confirmed User Join Date: Feb 2002 Location: Canada Posts: 3,547	I just started. Bought my first rental last month and keeping my eye out for another. __________________ If you click here, you will make money.

11-20-2005, 09:22 PM	#7
bringer i have man boobies Join Date: Jul 2003 Location: van down by the river Posts: 13,082	id avoid buying anything now to flip. interest is going up and prices arent moving down much so until they do id hold off. __________________ 333-765-551

11-20-2005, 09:27 PM	#8
NickJ So Fucking Banned Join Date: Oct 2005 Posts: 325	homes are still good investments. condos are risky if you can't keep them for at least 2 years. Find out what property taxes are and get a mortgage that will let you make the payment yourself. If not they will hit you with first years, second years, and 16 percent pad at the sime time which could double your payment...

11-20-2005, 09:30 PM	#9
aflex Confirmed User Join Date: Oct 2002 Location: New Jersey - adaptweb at gmail.com Posts: 3,127	im anxious to get a rental property.. the NJ/NY area is so expensive though.. __________________ self made mothafucka. buying premium domains & developed sites with revenue/traffic -> adaptweb at gmail.com

11-20-2005, 09:45 PM	#10
swingingina Confirmed User Join Date: Nov 2005 Location: st pete beach Fla Posts: 199	its alot of fun __________________

11-20-2005, 10:00 PM	#11
mb Confirmed User Join Date: May 2001 Location: San Diego Posts: 1,550	day late and a dollar short... a major housing crash is occurring RIGHT NOW... '06 will be a bloodbath. I've been following the trends religiously for the last year and it's looking terrible right now.

11-20-2005, 10:06 PM	#12
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Hard to say. Alot depends on how much you paid, and for what, but, in general, I wouldn't touch RE right now. The crash has started. __________________ Boner Money

11-20-2005, 11:57 PM	#13
wdsguy Ryde or Die Industry Role: Join Date: Dec 2002 Location: California-Shanghai Posts: 19,568	are you looking to buy rental properties or to flip them? give us more info.

11-21-2005, 12:13 AM	#16
fuzzylogic Confirmed User Join Date: Jun 2004 Location: buffalo, las vegas. icq: 285808879 Posts: 4,796	u should invest in virtual realestate. it is far more lucrative.

11-21-2005, 12:56 AM	#17
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Doom and gloom aside... BUYING and HOLDING Real Estate for a LONG (I mean over 20 year period) should put many people on the PLUS column. Of course, crap can still happen (see Japanese real estate market from late 80s to now) __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

11-21-2005, 04:28 PM	#19
David - PG Confirmed User Join Date: Mar 2004 Posts: 767	Read these 2 and get out asap. Thank me later. __________________ perfectgonzo.com

11-21-2005, 04:34 PM	#21
Dalai lama Strength and Honor Join Date: Jul 2004 Location: Europe Posts: 16,540	I wish you best luck __________________ A program you can trust. Gallerybooster Run multiply TGPs of 1 script