Gaz
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If u can afford to buy then you could do ok renting out !!!! |
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SmartA$$
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It can be done with the right strategy. Right now prices are low, so you should focus on buying and obtaining property if you can afford to do so. When prices go back up, you can sell and make big profits. During the time in between, you can rent the properties to help cover the costs and/or generate some income. |
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Thunder
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Being a builder gives you a bit of an advantage! I say go for it!! |
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Sal*UK
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Yes, sellers will bite your hand off for the right offer. Look for repossessions and get in there - but be prepared to hang on to the houses for a couple of years to see the market rise again. Try renting them out short term when renovated - its an income. |
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Felidae
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It's a risk; but if you have spare cash that you could "afford" to lose then go for it. be prepared for house prices to continue going down for a few months yet though. |
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superoverdrive
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It is only worth it if you get hold of a property that is extremely cheap. And then only if you knock it down and build something new...that is something special and not an average property. |
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southy
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go for it buy a house that needs renovating, buy it cheap do it up,then rent it out for 5 yrs your not gonna lose.the only snag is you got to keep hold of your property for 5 years it isn't a get rich quick scheme.you will reap the rewards if you can afford to keep the property for a few years but remember you got to maintain it for 5 years and you got to hope you get good tenants...
take it from a good property developer it is hard work.. |
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chatsplas
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Don't expect Fast Flipping. Can you afford to hold on to it or to rent it, IF you can't sell it? |
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DudeMatt
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We are in a bear (declining) market for property at the moment.
the problem is no one is confident enough to call the bottom.
Were in for a rough ride in 2009/10 and house prices will undergo a correction as quite honestly theyre unaffordable for alot of people STILL.
If you can afford to buy and keep repayments up and hold for long term 5-10 years then im sure your investment would be sound.
But forget about house flipping or mowing the lawn and making a cool 10k profit. Them days of absolute bollocks are over.
Good luck :)
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godged
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Property development, no. There is a ton of inventory on the market, and buying land to put up houses or even a commercial venture is ill advised at this time.
Buying distressed properties to keep as rentals until the market improves does have potential to be lucrative. |
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J A
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You can make money anytime if you know what you're doing and know the Real Estate market you're in. Of course selling it once you fix it up is another story. Use caution is my advise and be realistic. |
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Jenny S
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Now is a good time. I have a friend who buys houses, rents, and re-sells; he makes a very nice income. He is actually in the process of putting together a book about how it has worked for him and how this can work for you. The book is scheduled to be done the first of the year. You can keep in contact by e-mail: cotrte_tlb@yahoo.com Everyone is welcome to keep in touch about the book and when it will be ready. He has been in the business for 10 years and he is very smart in what he does. I also believe the book will be going for as little as $14.95 I believe your money would be well spent. |
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