Woodrow Neyman: Join your local Real Estate Investor's Association and learn. REIA's (pronounced Reeah) are groups of people that are interested in investing in Real Estate. You want to talk to these people and find out what they know. I would also try to find someone who is already doing this and see if they'll teach you or let you tag-along with them and learn.
Claire Billegas: Keep in mind...........Times and markets are changing!In California with average homes selling well over $500,000, a 20% decline is $100,000! In any market 'timing is everything'! So, could you afford a loss of 25% of your investment all because of poor timing???This last up cycle was 10 years in many parts of the country. The downcycle now started in CA, Wash DC, NYC, Vegas and other hot areas of the past are all soft and getting softer.From 1990 to 1996, the average home in San Diego lost 20% of its' value! The cycle we are now enterng looks like it could well exceed that on the downsi! de!With all the 100% financing, interest only loans, EZ qualifing etc...even a slight decline will cause many to be unable to sell for the amount due on their loans!For some great 'insider' articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years.....visit:http://www.brokerforyou.com/brokerforyouhttp://www.downtown-san-diego-real-estate.com/san-...http://www.brokerforyou.comhttp://www.san-diego-for-sale-by-owner.comhttp://www.la-jolla-ca-del-mar-san-diego-real-esta...http://www.brokerforyou.com/blogger/index.htmlhttp://san-diego-coastal-real-estate.blogspot.comhttp://sandiegofsbo.blogspot.comhttp://downtown-san-diego-real-estate-views.blogsp...http://san-diego-coastal-real-estate.blogspot.comhttp://sandiegofsbo.blogspot.comhttp://downtown-san-diego-real-estate-views.blogsp...http://www.brokerforyou.com/san-diego-real-estate-...http://www.poway-real-estate.infohttp://www.del-mar-real-estate.infohttp! ://www.la-jolla-real-estate.infohttp://www.los-angeles-real-es! tate-brokers.comhttp://www.san-jose-real-estate-brokers.comhttp://www.orange-county-real-estate-brokers.comhttp://www.san-francisco-real-estate-brokers.comhttp://www.sacramento-real-estate-broker.com...Show more
Imogene Neiswander: Get with a Realtor that specializes in foreclosures. Ride around on the weekend and look for abandoned properties. If you can not do home repairs yourself you will have to concentrate on homes that only need cosmetic repair. If you can make repairslike plumbing, electrica, drywall etc you can go after distressed properties that you should be able to get at prices below market value.
Jannette Kotz: If you own your own home, you may have equity built up in it. If so, you could use this money as a down payment on an investment property. With your high FICO score, you will get good terms with a loan. If you do not own a home, BUY ONE!! Talk to a lendor and see what your options are and what you will have to do to purchase one. I b! ought my first home 4 years ago with $2,000 that I borrowed from an ex-girlfriend; since I have turned that home into 7 properties by this process. Last, search for deals, search for deals, search for deals; if you can find a good real estate deal, you can find money to purchase it - at the least, you could partner with an equity partner that would be happy to be a part of a good deal. Good luck!...Show more
Jacinta Moitoso: First incorperate your business. never buy investment property under your own name.Second, keep an eye out for motivated sellers. People looking to sell fast (divorse, death,).Also research Tax Lien Certificates and foreclosures.and read http://moneyvelocity.com...Show more
Mitchel Demry: Investment propertyLender will give you money for sure. Probably charge you a higher interests rate and extra insurance on the loan for not having the down payment.Would you consider delaying your plan? Professional investors are careful in choosing eac! h investment that would be near or immediately cash flow positive. Wit! h overpriced housing market, that is not possbile.For example, it costs $500,000 to $550,000 to buy a two bedroom units in Sunnyvale California. Mortgage monthly payment with nothing down is $3500 to $4000 a month with 7% APR. The rent one can collect from such unit would be $2000 a month. Therefore, for each unit you buy, you would lose $1500 a month.* We assume tax benefits would cancel out with tax and maintenance fee. Please consult your CPA.**If you have large down payement, the rate may be lowered....Show more
No comments:
Post a Comment