Reply
Results 1 to 6 of 6
  1. #1
    Don't try. Do. omnip0tent's Avatar
    Join Date: Mar 2007
    Location: Florida, United States
    Age: 30
    Posts: 9,246
    Rep Power: 55099
    omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000)
    omnip0tent is offline

    Exclamation 40k to invest into real-estate

    So I was going to buy myself a tradie truck.... but the thought of throwing 35k out the window doesn't sit right with me. I'll buy myself a beater when my current car dies.

    So now I'm thinking I can easily afford a $150k or less rental property. BUT... I have NO IDEA where to start. Anyone mind pointing me in the right direction?

    What I do know:
    - I have 0 debt.
    - I can finance ~150k property easily
    - I want it to be local so I can manage it myself. (Within 25-50 miles of say 33144)


    Just from browsing Zillow this morning I've identified these as decent candidates:

    https://www.zillow.com/homedetails/6...43999027_zpid/

    https://www.zillow.com/homedetails/8...64674956_zpid/

    https://www.zillow.com/homedetails/8...62930612_zpid/


    Can anyone tell me why these homes are good/bad candidates? Things I need to consider/do before anything if I want to invest in real estate? Any information really would be appreciated.


    Reps all around
    Are you not entertained?

    MFC #32

    It's All About the U
    Reply With Quote

  2. #2
    Forever aBOARD guest89's Avatar
    Join Date: Sep 2003
    Location: United States
    Posts: 29,611
    Rep Power: 88068
    guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000)
    guest89 is offline
    First of all for an investment property you'll need to put down 20% unless you lie. If I only had 40k I wouldn't stretch myself too thin because you'll need a buffer incase stuff breaks, you need to remodel, it takes awhile to get a good renter and you have to pay the mortgage out of pocket, etc.



    With all the good youtubers/IG people putting out exceptional how to invest in real estate/rental property content. How much of it have you watched/absorbed?

    Thach Nguyen on IG.
    Graham Stephen on youtube.
    Meet Kevin on youtube.


    If you follow their content you'll learn all you really need about real estate investing. If you haven't spent time educating yourself on it already it would be really stupid to just buy an investment property. I'd suggest spending 1-2 hours per day educating yourself. For at least couple of weeks before you decide to pull the trigger on anything.


    Graham and Kevin talk about a lot of other stuff now but original content was pure real estate. Thach is pure real estate. I'd start with his content.
    Reply With Quote

  3. #3
    Putt Jatt Da skinnyntall's Avatar
    Join Date: Mar 2010
    Age: 31
    Posts: 1,936
    Rep Power: 6777
    skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000) skinnyntall is a name known to all. (+5000)
    skinnyntall is online now
    Investing into real-estate is always good.

    I'm from nyc

    I usually look at the area and how much the rent is in that area etc..I have 4 rentals here and I renovated all of them because people here are always looking for new apartments = more rent. And house values goes up obviously.

    So I guess scope the area out and how much the rent is being is charged etc. also see if you can renovate a little.

    Rather buy cheap and renovate (if you can)
    LAKERS
    Reply With Quote

  4. #4
    Don't try. Do. omnip0tent's Avatar
    Join Date: Mar 2007
    Location: Florida, United States
    Age: 30
    Posts: 9,246
    Rep Power: 55099
    omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000) omnip0tent has much to be proud of. One of the best! (+20000)
    omnip0tent is offline
    Originally Posted by guest89 View Post
    First of all for an investment property you'll need to put down 20% unless you lie. If I only had 40k I wouldn't stretch myself too thin because you'll need a buffer incase stuff breaks, you need to remodel, it takes awhile to get a good renter and you have to pay the mortgage out of pocket, etc.



    With all the good youtubers/IG people putting out exceptional how to invest in real estate/rental property content. How much of it have you watched/absorbed?

    Thach Nguyen on IG.
    Graham Stephen on youtube.
    Meet Kevin on youtube.


    If you follow their content you'll learn all you really need about real estate investing. If you haven't spent time educating yourself on it already it would be really stupid to just buy an investment property. I'd suggest spending 1-2 hours per day educating yourself. For at least couple of weeks before you decide to pull the trigger on anything.


    Graham and Kevin talk about a lot of other stuff now but original content was pure real estate. Thach is pure real estate. I'd start with his content.
    I have done some basic online reading. But I do feel like I'm missing that vital "experience" information as I do not know anyone in real-estate personally. I will def check those vids out. And yes I am in no rush to do this, rather I am starting now to educate myself and prepare for the day (hopefully soon) I invest.

    Also 40k is what I'm willing to comfortably invest (down payment + renovations) I'm hoping to not buy a mega fixer upper as I also don't know any contractors etc, and don't have tons of experience myself fixing things (but I am hoping and willing to learn). I am in a unique position paying only ~$150/month in rent right now for the next 3-5 years comfortably so I want to take advantage and invest while I can.

    Originally Posted by skinnyntall View Post
    Investing into real-estate is always good.

    I'm from nyc

    I usually look at the area and how much the rent is in that area etc..I have 4 rentals here and I renovated all of them because people here are always looking for new apartments = more rent. And house values goes up obviously.

    So I guess scope the area out and how much the rent is being is charged etc. also see if you can renovate a little.

    Rather buy cheap and renovate (if you can)
    Def. Buy cheap sell big is the name of the game. But as this is going to be my first investment I'm not looking to make 1000% profit right on the go, I understand that will come with time and experience. So buying a slum is definitely not something I'm interested in. I don't mind buying a bit higher but being almost turn key able to rent ideally.
    Are you not entertained?

    MFC #32

    It's All About the U
    Reply With Quote

  5. #5
    Registered User dyee4613's Avatar
    Join Date: Mar 2015
    Age: 30
    Posts: 3,184
    Rep Power: 7020
    dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000) dyee4613 is a name known to all. (+5000)
    dyee4613 is offline
    looking at real estate prices outside of california is so triggering.
    Reply With Quote

  6. #6
    Registered User paulinkansas's Avatar
    Join Date: Sep 2018
    Posts: 2,631
    Rep Power: 18742
    paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000) paulinkansas is a splendid one to behold. (+10000)
    paulinkansas is offline
    Leverage some of your other skills/talents/advantages to your real estate venture. For example, my official day job is giving pre employment drug screens to travelling workers at a refinery. Welders, pipefitters, boilermakers. Their job may last anywhere from a week to 6 months, and they get a per diem each week for food and a motel room. I rent out furnished houses to groups of co-workers that don't want to live out of a motel room for their work duration. I charge the same as local motels ($200/week/person), but they can cook, grill outdoors, do laundry, stream netflix and sleep in their own rooms that are decorated like Hugh Hefner's mansion. There is a forum on Biggerpockets.com specifically for these kinds of rentals. There are a lot of bank foreclosures in this town. I get them for 25 cents on the dollar, and have to spend about $1000-$1500 to get them running. About the most expensive thing is a big HDTV.
    Reply With Quote

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts