Re: ot make money in real estate

Posted by Blue3992 (N Illinois) on July 31, 2007 at 08:19:10 from (71.13.113.122):

In Reply to: ot make money in real estate posted by chris sweetland on July 31, 2007 at 05:59:14:

If it was on an infomercial, then that's all you need to know. Those "Get Rich Quick in Real Estate" deals are all bogus. They make their money selling books.

I don't own any investment prooperty. But I have researched it a bit, and talked to some friends and family who invest in real estate. Here's what I've come up with.

- You can buy houses and fix them up to sell at a profit (flipping). But everyone and their brother is doing that, so the market is kind of saturated.

- There's lot of foreclosures, or houses that are about to be foreclosed on, that you might be able to get at a deal. You better have a bank that's willing to work with you though.

- Rental Property seems like the best way to go. A friend owns a couple of 4-unit apartments near by. The rents pay the morgatge, plus a small profit every month. IF one unit is empty for a couple of months, you still have the other 3 paying, so you don't go broke. Keep the place maintained, cut the grass, and its pretty easy.

Anyway, my opinion only, your mileage may vary.

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