Real Estate Investing
09-27-2005, 12:30 PM
#1
Better Than Canada!
Thread Starter
Join Date: Dec 2002
Location: Baltimore, MD
Posts: 10,821
Likes: 0
Received 0 Likes
on
0 Posts
Real Estate Investing
I'm interested in getting started in this. From what I know it sounds like something I would be good at and would enjoy. I'm not looking to make a quick buck or anything. But I would like to fix up old places and sell them or buy properties and keep them for rentals. Anyone do any Real Estate investing? Any insight? Pros,Cons,tips?
09-27-2005, 12:37 PM
#4
#CustomUserTitle
Join Date: Mar 2002
Location: glass case of emotion
Posts: 63,854
Likes: 0
Received 0 Likes
on
0 Posts
Major con is time. Every second you hold onto the property is even more money out of the profit. If you have a full time job, I wouldn't consider taking up real estate renovation projects.
It's one thing to paint and patch a wall, it's another to take the wall down and redo plumbing and electricity.
It's one thing to paint and patch a wall, it's another to take the wall down and redo plumbing and electricity.
09-27-2005, 12:42 PM
#6
d@weezel music
Join Date: Jun 2002
Posts: 5,929
Likes: 0
Received 0 Likes
on
0 Posts
Basically, the housing market is running at an artificial high right now. I know that it has been debated that this is not a bubble, but in my opinion it is a semi-bubble. Real estate values are way too high right now. Prices have approached 165% of GDP, which is about 1/3 higher than the long term average of about 125%. Coupled with the low long-term mortgage rates, it is only a matter of time before it deflates. One of the main concerns of the Fed is this housing market. That is one of the reasons that they continue to raise the fed funds rate which drives a lot of the short term rates, hoping that the long term rates will follow. Anyway, the long-term rates cannot stay this low for too much longer, eventually causing the housing prices to decline...hopefully.
09-27-2005, 12:53 PM
#8
d@weezel music
Join Date: Jun 2002
Posts: 5,929
Likes: 0
Received 0 Likes
on
0 Posts
technically yes, but they are producing these artificially high housing prices. Unfortunately, there is not much room for them to expand higher so you are better off waiting for the prices to come down a bit. While there is debate as to whether or not prices will drop or crash, they are bound to go down.
09-27-2005, 01:05 PM
#9
Better Than Canada!
Thread Starter
Join Date: Dec 2002
Location: Baltimore, MD
Posts: 10,821
Likes: 0
Received 0 Likes
on
0 Posts
I'm going to a free class here http://www.investorsunited.com/ tonight....check it out and tell me what you think
09-27-2005, 01:20 PM
#10
the one and only
Join Date: Dec 2000
Location: Govenator Territory
Posts: 15,571
Likes: 0
Received 0 Likes
on
0 Posts
you need lots of $$$. might need to use your credit so that must be good. and mainly you need lots of $$$ so if the 'bubble' does burst you can wait it out until it gets back up again