i have a grand prix white for sale. its been for sale for a couple weeks now and i have only had a few bites. for more info on the car check out the link in my sig.

all im asking is that you guys tell your friends about my car. i want to buy a house and get into rental properties. i started a thread about it a couple weeks ago.

i havent had many bites. i have want to buy a house asap, but i cannot afford both the S and house payment.
if any of you know of a good home for my car please contact me.
thanks
jim

 

I have a rental property. I'm selling it. If can get really frustrating and a PITA. Pick your renters well. If you had enough properties it would be fine if you could do it as a full time job. Even the best renters will mess your place up though, but repairs are tax deductible. The money is pretty good. I'll make about $9k on a $20k investment when I close this month. I got lucky becuase they built the George Bush tollway and all the units skyrocketed. I bought mine for $75k and I'm selling it for $94,500. But, after realtor fees etc.. Only $9k profit. I'm kind of disappointed even though it is 15% return a year on the money. I think I'd rather buy a commercial property next time, but that is a whole nother ball of wax. I know a friend of the family who leveraged $100k and got a Million dollar warehouse w/tenants. From what I understood she is making a healthy profit off it. A G or two a month. Is that B.S. I don't know, kind of fishy as to why someone would sell a money maker like that. Who knows, maybe they just wanted to cash out to get something else (Like Me).

 

yeah real estate is where its at. ive had enough of this 9-5 shit. im ready to jump into real estate, but i cant with my car payment.

 

Try California. Capitola 2/2 fixer for $500,000! Rent out for $2,000/mo and lose your S and A**. No seriously. Real Estate is an excellent vehicle for wealth accumulation. It's long term though. I plan to take my line of credit that I have against my almost paid off home on the coast of Calif and go to resort areas in other states and purchase investment grade 3/2s fix them up a little and then rent them out at a positive cash flow. There still are areas where this will work with 10% down. I'll live in them for a year or so and personalize them. Tile, paint and moderm fixtures in baths and kitchens, a little yard work and viola! Me and my lady will get jobs to augment our income while fixing up the house. Then we move on to the next. Hope it works. 3/2 houses have been the only money I've been able to keep. When it goes up 10%, it goes up exponentially. Great way to make money. It's just getting started that is hard. I have a R.E. license in Calif and plan to get one in each state I invest in. Take my commission right off the top. My part would be 3% on a 6% commission. That's 3% on my money from the get go. Sounds good in theory but we will see. I'll be the next Donald Chump. I'm thinking of Utah and perhaps Yellowstone. Property is cheap in Utah compared to California. Heber City Utah is close to Provo, Brigham Young university, Sundance and Park City ski resort. You can still get a nice home for $125,000. We will see. I think I'll start a Real Estate thread. That would be informative. Good luck on your endeavors.

 

Good thinking jimbo69ny.

Real estate is a good investment. i own a duplex and my house and its a very good investment. I am also looking for more investment properties to invest in as well.

One thing I really have to stress is that in the long term real estate will always be good. But there are cycles in the market and i believe we could be at the peak of the market. If you ask anyone in most parts of the country, they feel their neighborhood is overvalued. I live in los angeles so its really over valued here.

Anyways, every market is different so study your markets. Make sure you understand where in the cycle that particular market is at. Also, look at the foreclosure rate, tax sales, lease backs, etc.

email me if you have more questions
leonard
leonardwaki@aol.com

 

Jimbo or anyone else who is in real estate: What do you need to get started? Like Jimbo, I'm interested in this but don't know how to get started. If anyone wants to help me, I would really appreciate it.

Greg

 

read property management for dummies it gave me alot of valuable information

 

The one big factor you have to think about is the apr. Right now, fixed and variable rates are excellent, but you can't get fixed rates(generally) on commercial property...at least not long term. So if the interest rates rebound in a couple of years and jump a couple points or more those variable rates could turn a property of $400 monthly positive cash flow to a neutral, or even worse negative cash flow property.

 

I must sell my car!!! how about $20,000 i feel like wal-mart. dropping prices like crazy.

 

Damn....that's a hell of a price dude....that's below trade! I had dealers offer me 20,500 for my car....would you mind selling to dealers, here in Topeka, you could sell it I am sure...

Angel