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

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

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

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

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.

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

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

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...

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

its alot of fun

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.

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.

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

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...

:helpme

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.

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

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)

Yeah that is certainly fucked.

Read these 2

http://www.investech.com/visitors/upload/bubbling.gif

http://www.safehaven.com/images/zeal/3135.gif

and get out asap. Thank me later.

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.

I wish you best luck :thumbsup

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