Anyone in real estate investment?

[black2002ls]

I am currently stock piling $$$ to get into some REI. Starting out I plan to buy and flip to help increase my leverageble cash. As I build my experience and reserves I plan to pick up buy and holds along the way for income properties. I am looking for mentors, partners, and anyone looking to lend advice.

My area is starting to see some growth and an increase in property values. I feel that it is a good time to start buying property in my area. A lot of new construction going on, both commercial and residential.

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[mstng86]

Buy the whole town of Celeste

[jtm98snake]

IT might be worth $50 if you include the town hall.

[David]

Me and my dad are property collectors. Buying and flipping is to stressful and to much cash. Much easier just to rent them out, snowball them, and watch your net worth increase. And not have to battle every other house flipper HGTV watcher.

[black2002ls]

Me and my dad are property collectors. Buying and flipping is to stressful and to much cash. Much easier just to rent them out, snowball them, and watch your net worth increase. And not have to battle every other house flipper HGTV watcher.

There is a lot of stuff in my area that is older and a little distressed for a nice ROI. I picked up my house for $92k put about $6k in remodel I could sell it for ~$125k.

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[David]

There is a lot of stuff in my area that is older and a little distressed for a nice ROI. I picked up my house for $92k put about $6k in remodel I could sell it for ~$125k.

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For that small of a return I would just hang on to it and make more on rents. But that's me.

[beefed88]

When did you purchase your house? Are you comparing prices from a couple of years ago to today's? Closing costs, realtor fees, and your rehab time makes for some slim margins according to your primary home example.

I have 4 rentals, when I find a deal I will buy my 5th. But I agree with David, buy and hold. Unless you have all the resources to flip. Lots of cash, time, possibly realtor license. Get some quality renters and take advantage of low interest rates. You will most likely need 20% down for an investment property. Check out biggerpockets.

[8mpg]

There is a lot of stuff in my area that is older and a little distressed for a nice ROI. I picked up my house for $92k put about $6k in remodel I could sell it for ~$125k.

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Thats a decent return but by the time you subtract $7500 in realtor fees and $4950 in capital gains, it kills your profits.

Russel... I dont know if you have found BiggerPockets.com but its a REI website with a plethora of knowledge. I have been going back and forth on this investment thing for a while. While long term it looks great, the average house seems like people make $100-200 per house profit per month. Its very hard to see that long term 30 year goal. Im debating selling my property to fund the purchase of a few houses.

[slow99]

For that small of a return I would just hang on to it and make more on rents. But that's me.

I have 4 rentals, when I find a deal I will buy my 5th. But I agree with David, buy and hold. Unless you have all the resources to flip. Lots of cash, time, possibly realtor license. Get some quality renters and take advantage of low interest rates. You will most likely need 20% down for an investment property. Check out biggerpockets.

What kind of cash yields are you guys seeing?

[8mpg]

What kind of cash yields are you guys seeing?

obviously I dont have any real estate but reading on the forums, people are looking for a 10%+ return and use that as a guideline to buy or not.

[David]

obviously I dont have any real estate but reading on the forums, people are looking for a 10%+ return and use that as a guideline to buy or not.

That's pretty much us on a house that will carry a mortgage.

[black2002ls]

When did you purchase your house? Are you comparing prices from a couple of years ago to today's? Closing costs, realtor fees, and your rehab time makes for some slim margins according to your primary home example.

I have 4 rentals, when I find a deal I will buy my 5th. But I agree with David, buy and hold. Unless you have all the resources to flip. Lots of cash, time, possibly realtor license. Get some quality renters and take advantage of low interest rates. You will most likely need 20% down for an investment property. Check out biggerpockets.

I bought in 2014, so we will be there 2 years in May, I did the rehab in a month.

Resources are not an issue. I do residential new construction so i have the ability to get materials quite a bit cheaper based on my company volume. Trade labor is no problem either.

Thats a decent return but by the time you subtract $7500 in realtor fees and $4950 in capital gains, it kills your profits.

Russel... I dont know if you have found BiggerPockets.com but its a REI website with a plethora of knowledge. I have been going back and forth on this investment thing for a while. While long term it looks great, the average house seems like people make $100-200 per house profit per month. Its very hard to see that long term 30 year goal. Im debating selling my property to fund the purchase of a few houses.

I found bigger pockets about a month ago and have been reading through the forums and blog posts there.

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[War Machine]

I pay 5k for finders fees. I'll give you the neighborhoods I want to buy in, you find me a house I'll pay at closing.

Easiest way to flip homes and make money with no investment

[dcs13]

Deals are HARD to find right now. Gotta have feelers out everywhere (like War). I got a line on a house in east Plano recently, but it went to a realtor before I could talk to the family that was handling the estate. If you can get to people (family) selling an estate property, they like quick cash deals. Got my first rental that way. I bet I have 250k equity in it right now.
That said the rental market is crazy hot too. IMHO, the real money is the rentals. Check references REALLY good, charge a fair rent and modest increases. Let it cash flow, add to the inventory. I know a guy that has about 100 rent houses. He collects checks and manages his rentals...
You can always watch a "Flip or Flop" marathon and learn what NOT to do. I swear, the stuff those people do makes no sense. Buying houses unseen and not inspected. I wonder just what the REAL numbers are on their deals.

[David]

Rentals are killing it right now.