Re: Investing in Real Estate???
You might want to talk to some real estate agents in your area about the market. Where I live there are quite a few vultures(guys/companies with a lot of cash that buy REO's, paint, carpet, sell) The most sucessful ones here have cash to not worry about payments or renters, renting is another thing too, you will need to keep up your property for your tennants. Being handy wil help you in this as well, if not, you will be hiring help to do repairs. While you can make a lot of money in real estate, it is a large financial obligation to do as well, I have make over 100K in less than 3 years on my personally owned properties, but I still need a place to live right? I do wish I had some extra cash in the early 90's here to buy some homes that were distressed that are now worth over 500k, but if you get in at bad times, you will have to ride out the wave near the bottom, might want to check out David's essay "The fundamental theorem of investing" that he wrote a little while back. While I personally believe that property will rise in value over time, I know many people who bought homes way over their proce range in the OC in the 80's because they could not make 20-40% ROI each year in the bank with the money, the market cannot appreciate at that rate forever, it will have bad times. Not to try to discourage you, just make sure you diversify.
tobdog
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