I am very interested in making money in real estate. I would like to learn what, if any, difference there is between real esate investing, and owning rental property. Also, how do I get started and make a profit rather than messing up the process and losing my money? I'd really like to hear from experienced people who have made money doing these things and find out how they did it, how they learned the business, etc.
Lay a good foundation, I started by becoming a property manager- and then I became a realtor, and then I went into Insurance 15 years ago, knowledge is power.
Im a real state invester. I prefer , commecial real state, is were your client make money ..... look for the rigth location, and look for neigb. who have a high pay capacity...... Institutions for example . Try to sale, and go ahead with more invest. Or rent first , but looking for sale (or you can be frezze and stay in only 1 or 2 invest.///// start with some of your own money., and always with excellent credit Classi. You can take a look for remodeling too. Sorry , my english, is not my first language.
Here is my 2 cents of advice and be careful about the interest rate.Here is what I will do,I will buy a duplex or 4 plexs for people to rent. I will not buy any single home.4 renters can do better than one renter.It depends on your money also.Remember you need to put 20% down and if this 4 plexs are your first time then you can put 10% down when you first time home buyer.If you are handy you can buy a fixer upper but depends on the condition of your home that we buy and you need to estimate how much you really need to spend and your time.It may or may not be worthy to fix yourself or hire someone to do better.You need to take some classes in a real estate and these classes will help you.You can go to city college and check real estate books and Investment from the public library.Remember read the books and drive around see location of the property and understand the interest,taxes, and the way money handle.You can work with a trust real estate broker and lawyers when you are ready to buy.I urge you spend your time wisely and use common sense,then you will do very well.
