Real Estate - I wanna learn it the real way!

[Richesta]

Hello my mates!

Here it is, I wanna learn me more about real estate investing. I have always been interested in furnishing (sounds quite feminine, but I hope you like me anyway ) and it's a part of the Real Estate market. But I don't really know where to begin?
I've ordered the book "Real estate för dummies" and I hope it will give me some basics. And I've also just watched out billfitzpatrick.com.

1. Do you know some sites where I can enter deeply?
2. Some further reading?
3. Or you want to give me some personal lessons?

I can't stop sayin' it, but it's the best forum I've even seen

[Richesta]

I know there is someone who can answer my questions!

[Squandered Halfpints]

I don't know what you mean by "furnishing" Are you reffering to interior decorating and flipping a home?

[malumu200]

When I wanted to know more about real estate investing couple years back I use to visit two websites that I will fully recommend.

Real Estate Investing & Investment Articles, Tips, Expert Advice

Real Estate Investment - National Experts, Hundreds of Articles, Tips

Hope you learn all you are searching for and continue your real estate journey.

Hello my mates!

Here it is, I wanna learn me more about real estate investing. I have always been interested in furnishing (sounds quite feminine, but I hope you like me anyway ) and it's a part of the Real Estate market. But I don't really know where to begin?
I've ordered the book "Real estate för dummies" and I hope it will give me some basics. And I've also just watched out billfitzpatrick.com.

1. Do you know some sites where I can enter deeply?
2. Some further reading?
3. Or you want to give me some personal lessons?

I can't stop sayin' it, but it's the best forum I've even seen

[capforge]

Are you talking about staging? That is dressing up a home with furniture to improve the presentation for potential buyers and hopefully get the home to sell for more/sell at all. Staging is a separate business from real estate, and it requires a pretty big upfront investment, but it is hot right now and may pay off if you come up with the right plan.

[Richesta]

Okey, I were indistinct. I mean flipping real estates or loan money-buy an apartment-rent out-pay the loans, the "furnishing" is just an interest which may be a part of flipping. My plan is to have a couple of estates and earn an extra income.

I've got some plans with my father. We're looking for an apartment which we will rent out until I am going to study at a university (17 years old).

Do you have some great sites or books you will recommend? Thanks!

[Richesta]

When I wanted to know more about real estate investing couple years back I use to visit two websites that I will fully recommend.

Real Estate Investing & Investment Articles, Tips, Expert Advice

Real Estate Investment - National Experts, Hundreds of Articles, Tips

Hope you learn all you are searching for and continue your real estate journey.

Thanks!

[nocci01]

Learn about real estate investing by picking up books by Dolf De Roos, Roberty Kiyosaki, etc. You can also search for Real Estate Investment Clubs and join their forums. Either that or ask the moderator to start a forum about Real Estate Investments here on YE.

My suggestion if you want to invest in real estate is to go purchase your first property. Find a property with the help of an agent...one that can rent at least 1% of the purchase price and/or property value. For example, if you purchase a single family residence for $100,000...make sure it can rent for at least $1,000/month. You can find the market value and market rent by asking the agent to find comparables in the area. Sometimes a duplex/triplex/fourplex might be better. You may be able to find a duplex for $150,000 and rent each unit for $900/month...which is $1,800/month. Good luck getting loans on investment properties these days...be prepared to make larger down payments because the 100% investment property loans are either hard to find or maybe doesn't even exist. Don't waste thousands of dollars on seminars and books and then not even purchase a property...I suggest you purchase a property as soon as you can!

[Richesta]

Thanks for the input man! You said "Good luck getting loans on investment properties these days." Well, that is not quite a problem. I live in Sweden and we don't have the same market as the US in these days.

When I buy an property/apartment here i Stockholm for let's say $200,000, I will get monthly rent on ~$200 from the main owner. What about my earnings while I rent it out, My rent out prize - $200(rent to the owner) - my interest charge of the loan = My earnings? (except the psrize of the property which I hope will raise). This i quite simple version. It feels like my earnings won't be that much?

What do you think, guys? Have I missed something?
I'm quite noob right know, but I will increase my knowledge time after time so I really appreciate your answers

[Gaulkin]

Sign up on the forums at Real Estate Investment - National Experts, Hundreds of Articles, Tips it will do you wonders.

[netstar]

Don't waste your money on infomercial real estate programs and seminars. Also, work with a Realtor that you trust and is going to get your property for 60%-70% of its value. Right now, there are a lot of foreclosures or near foreclosures in the market, and these can be had for about that. Never pay more than 70% of it's value. Preferably get it for about 60%-65% of its value. (ie. $100,000 valued home for $60,000, etc.) If you see a house that you want to buy, but can't get it for that price, then pass. There will be others.. I promise.

And, like it was said before, you will have to put down a pretty substantial down payment on one of these homes. Banks are not really handing out loans as easy as they used too.

Also, if you are going to have tenants, remember you will also have repairs, upgrades, non-payers, attorney fees (to evict someone), taxes, etc, etc, etc. You need to factor those costs in.

If you are looking to flip a home, then you have to remember that you will be taxed heavily for that too.

Here is who you need to speak with before beginning this venture. A GOOD realtor, a real estate attorney, and an accountant.

Hope this helps.

[Richesta]

Okey, great tips! Thanks to you all!

[IDALeaders]

There are many great ways to get real estate for cheap. I am a real estate investor. Right now I have several deals in the works and here is what you can get a home for. here a a couple of them

property #1

worth 145,000 getting it for 80-90,000, money out of my pocket to get the house $10. yes ten dollars.

property #2

worth 125,000 will pick this one up for around 60-75,000 at the most. money out of my pocket 10 bucks

I work mostly pre-foreclosures. negotiate short-sales and the like, sometimes you don't even need to buy the property. The last deal I did we worked the deal then assigned the deal to another investor for 10,000 dollars.

you don't need a realtor, they just cost you money, but it helps to have one handy if you need one. And I agree legal advice is always good to have around when you need it

If you have any questions let me know!

Ryan

live free, debt free