I am really interested in investment/residential real estate. I just started taking classes for real estate any tips or pointers or information you can share on how to get started in residential real estate?? I really want to own a lot of apartments and condos. However, is single family homes better to start off with??? So, I'm looking for any advice on how to get started inresidential/ investment real estate???
Real estate investing is not as simple as you may think. In fact real estate investing is a more time-consuming process. It requires finding the right property, managing the investment property properly and keeping good financial records. You can be successful as a real estate investor only if have the time and interest to find good properties and keep track of your properties. You need to know some real estate investing tips in order to be safe and profitable.
It's good to get to know people who are already doing what you would like to be doing. You might even be able to do some bird-dogging for an experienced investor for awhile which is how some people get their start.
I've been investing in real estate for 25 years. It's not as easy as Carlton Sheets makes it seem. Now is NOT the time to be buying. Most of the investors I know, including myself,have been dumping all their real estare for the last couple years. Prices will continue to drop probably for 2 more years before they hit bottom. All my cash is in the stock market right now. When real estate bottoms in a couple years I'll get back in. I could tell you everything you need to know, as a realtor, a contractor, a landlord, and a slumlord. But like I said now is not the time. The best advice I can give you now is to save your money, build some good credit, and keep an eye on the average selling prices in your area. They should keep going down for a while. When they start to turn up, that's your signal to jump in. Cash is king. Put down as little money as possible for each purchase. That will enable you to buy more property. As prices continue to climb, your equity will rise exponentially.
Re: okorder . They have a lot of mp3 that I can get valuable info from. Also, a lot of books are on this subject. I would not recommend fishing out a bunch of money on classes. Capital: Do you have enough capital? If not, look into wholesaling. If you are handy, look into rehabbing. Residential: All depends on where you are. Texas cash flows on many homes. Cali does not. Tx appreciates poorly. Cali is negative depreciation. I started off with single fam homes. I had to sell off my condo because the area turned for the worse. I recommend a book:Building wealth one house at a time...
