im thinking about gettin into real estate, good idea?

Discussion in 'General Chat' started by whiteblue1942, May 7, 2008.

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  1. TheMarketingMadman

    TheMarketingMadman Well-Known Member

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    #21
    This is true....just the other day on the news I seen in Atlanta they are selling homes for $5000-$7500 for nice homes that were foreclosed on.

    The only thing is....you have to know that the market will pick back up and folks will start buying homes again or your stuck with them.

    JMO,

    JR
     
    TheMarketingMadman, May 11, 2008 IP
  2. Chris Steiner

    Chris Steiner Member

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    #22
    This is good advice. You are asking this question at a webmaster's forum, and even though there may be many knowledgable people here, this is certainly not a targeted audience for that question.

    The best part of sarahk's advice is to look for a local investor group. Join the group and start to network with everyone there, asking every question you can think of. Try to find someone who has success with what you want to do because there is a lot of ways to invest in real estate, probably just as many as there are ways to make money online.
     
    Chris Steiner, May 11, 2008 IP
  3. Gregg Hall

    Gregg Hall Peon

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    #23
    Real Estate can be very profitable - BUT it can also destroy you. Anyone who claims to have a crystal ball in the current economy that we are in here in the U.S. is an idiot. We have never seen the kind of situation we have now with record foreclosures, gas prices increasing, etc. I have seen prices of homes where I am in Florida drop over 30% in the last year and a half and sales are still down, the rental market is flooded with people just trying to get anything towards paying their mortgage on investment properties.

    If you have money you can spare, that is one thing. If your money is tight I would be HIGHLY cautious. I am not a real estate agent and am therefor not so optimistic as they seem to be. I personally foresee a longer road to recovery and think that real estate prices will continue to decline in most areas and foreclosures will increase for the foreseeable future. It will definitely continue until after the presidential election, what happens then is anyone's guess but this country has dug itself a whole that will be hard to get out of.

    Gregg
     
    Gregg Hall, May 11, 2008 IP
    Joak1m likes this.
  4. sarahk

    sarahk iTamer Staff

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    #24
    If the numbers stack up then it's still worth buying.

    Most investors look for capital gain and rely on their crystal balls.

    Good investors, however, look for positive cash flow NOW.

    Make sure the local economy is vibrant and not under threat. Is the infrastructure good, are their schools and businesses that will provide employment to your tenants? If so, people will want to live there. If not, you could be left with an empty house and that is far worse than no capital gain.

    Look at the neighbourhood and understand the social issues. I know of landlords who are too scared to inspect their houses, not because of their tenants - but the neighbours!
     
    sarahk, May 11, 2008 IP
  5. jeroenputtemans

    jeroenputtemans Peon

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    #25
    i was thinking the same thing a while ago, it might be good to do yes
     
    jeroenputtemans, Mar 6, 2009 IP
  6. mikebx

    mikebx Peon

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    #26
    on this chrisis you don't know what you can get
     
    mikebx, Mar 6, 2009 IP
  7. fancymouj

    fancymouj Peon

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    #27
    i would advice to go u in real estate .its good idea as market is down u can have golden opertunity to invest your money u will make handsome profit in shortwhile. jump up . best luck.
     
    fancymouj, Mar 7, 2009 IP
  8. inspirdSolutions

    inspirdSolutions Banned

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    #28
    I heard real estate can become real pricey....schools, programs..and it not worth it, especially now nobody can afford a new home, everyones losing theres
     
    inspirdSolutions, Mar 7, 2009 IP
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