 I'm just about to buy my first house...? |
and I'm down to three contenders:
http://www.losanjealous.
http://farm1.static.flic
http://www.... |
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 I have tenants that will not move out and I gave them a month and a half notice to move? What are my options? |
My house is being sold and the people who are buying it want it empty. My tenant said that she is going to go to court to see what her options are? Does it matter that they have 2 kids?
A... |
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 I sublease an apartment. The person who is on original rental agreement is giving me notice to vacate..? |
This is a rent control building but I am only subleasing, ...
Can the person who has the original rental agreement with the landlord and who subleased / subrented it to me....
Can he just ... |
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 Should I just sell my house and get an apartment to save money? |
| I'm so sick of living paycheck to paycheck just to live in this house that I don't really like all that much. I'm thinking of just selling and getting into an apartment and just on ... |
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 3 Day or Quit paper from landlord in CA? |
| I have been asking questions but now I have a new problem. Basically my mother is my land lord. She knows I am moving out in 2 months and she said she was going to be doing things to the condo and I ... |
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 Is the landlord responsible for installing a phone jack in a room? |
| I want the "extra" room to be my computer room but there is no jack. I called the phone company and they charge $150 to install one. Can I bill the landlord?... |
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 Is it acceptable for an estate agency to charge a tenant..? |
...admin fees?
I'm trying to rent a flat and just realised on the estate agents application form there's a ÂŁ60 admin fee for applying - I feel this is ridiculous just wondering ... |
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 Mortgage question-why so high? |
| Why is a $200,000 mortgate over $1100 a month? Every way I add 5-7% monthly, annually, whatever, I get a payment that is much lower. At $1100, with no interest, I'd be paying the bank $396,000 ... |
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 Can landlord give day notice? |
| Ive been residing here in my apartment for 5years and the owner call me last month to tell me he sold the property and I should move I agreed. Today I received a letter of one day eviction. is this ... |
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 Can a beauty shop move right next door to a beauty shop? |
| i have been at the same location for eleven or so years i work alone it is very nice i am located in the middle of town just recently a beauty shop moved right on top of me with three other girls ... |
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 Does my fiance have to be there for closing on our new house.? |
| My fiance and I are closing on our first home next week. I told my realtor several weeks ago that we do not want a Wednesday or Friday closing because he is out of town on business during those days.... |
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 Fair deal? I'd give my car to sis who would assume my car payments, and I in turn would purchase new car.? |
| I have a 2005 AWD Pontiac Vibe in great condition. Problem is, I am a mile-maniac, and my two and a half year old car has 65,000 miles on it. I owe $8,000 on it, and half way through my loan pay-... |
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 Can foreclosures happen in the winter months? |
I heard that when you rent an apartment the landlord can't kick you out during the months of October all the way to April.
Is this how it is with houses that are in foreclosure as well?... |
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 I am a 1st time home buyer and found a for sale by owner myself. Is there a way out of my realtors contact? |
| In my contact I have agreed to pay 2.5% to my realtor on for sale by owner properties. However, I found this property myself and the realtor has not been part of my negotiations. i don’t want to ... |
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 Owner financed home, can they report to credit union? how? |
| My husband and I are buying a home from a personal seller. Everything is official, we have a legal binding contract, and everything. We just make payments to them, instead of getting a bank loan. We ... |
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Belix | House flipping, renting duplex's? |
Hi, I'm very interested in starting a business flipping homes, and or renting duplex type properties. I however, lack experience, and would like to get a feel for buisness. I want to take some classes to prepare myself, and was hoping someone could guide me on what classes would best assist me.
I'm currently enrolled in a community college, and although I plan on a counseling career, given the opportunity, I would prefer to be my own boss. I know real estate really suits my interests.
So, any help please? |
 |
 
Skywalking
 |
Classes include: principle, practice, appraisal, finance, escrow, law, mortgage brokering, economics, property management and investment. I took all of them, you should too. Then you'll understand that it isn't easy... but possible.
You are making a smart move by educating yourself about real estate. Good Luck. |
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firsttx@sbcglobal.net
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Rich Dad Poor Dad, what the rich and middle class teach thier kids about money that the poor do not.. Find this book or Audio CD and read it. Do not spend $895 paying for a worthless seminar. Thier are numerous rich dad/poor dad books that are available that deal with investments, taxes and such. Read or hear as many as you can, the investment is worth it. The books will not specifically teach you about how to flip a house, but teach you about the baics about investing in real estate.
Learning to flip is not easy, but it is also not rocket science.
Before you buy a distressed property you need to know what the market value of fully fixed up properties are selling for in the same street/neighberhood/general area of the subject property your are looking at. (talk to a Realtor)
Then you need to determine what it will cost to fix the specific property you are looking at. Get bids from reputable contractors. Be willing to pay for thier time if need be (not to much, $100 tPick thier brain as much as you can.
Try to find a property that does not need foundation work, a roof or major electrical work. Try to fix some thing that just needs cosmetic repairs with maybe a little more. Start with lower priced properties and work your way up.
How much can you make? Do the math. Repaired sales price minus acquistion cost, minus rehab costs, minus closing costs equlas your profit.
A word of caution, repairs are always more than what you expect becasue you cannot always calculate unexpected, unseen repairs.
Get your degree, start your career and you can do flipping on the side. In time, you can decide if flipping is what you think it is all chalked up to be.
It it was real easy, everyone would be doing it!! |
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towanda
 |
You've watched to many of those stupid commercials where they tell you you can make a fortune flipping houses. If it was easy, everyone would be doing it and living in that big house by the sea.
Here's your first hint. Where are you going to get the $ to start with? There is money in rentals but you best learn how to do the work if times get bad. People are losing houses so rent is skyrocketing. Times will change and it may become hard to rent again and rents will drop. Equity is what you get out of rental property and a good tax shelter. Once you get started and get people on leases, you can use that as collateral for another rental. It takes time and an immense amount of work. It is a job. Anytime you can make money in any form, you have to work for it. But you have the absolute right idea. Be your own boss cause that's where the $ is and that's where the risk is so keep asking questions. Common sense will take you far too. But it's ambition and hard work that will get it done. Go as far as you can in college and get a degree that will parlay into a good job that you like and will also pay. College give you a good base to work from and give you choices as you go through life.
Here's your first lesson: Duplex renting-It takes one rent to pay the morgage and one to pay insurance, taxes and some of the repairs. You will have to be able to afford to pay for big repairs like a new roof so all you get is equity-repairs + tax shelter for active participation. Four family rental-one rent for mortgage, one for insurance & taxes, one for repairs, and one for you. Get the idea. |
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mystacall
 |
are you ready for financial suicide? Do you not realize we are in a housing crunch? I had a condo for rent for 8 months..and could not rent it. Then if you do and your tenants don't pay their rent you still have a mortgage to pay..and You have to pay to have them evicted. good luck you will need it..sorry to bust your housing bubble.. |
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chewyandthestormtroopers
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Ive personally never taken any classes but so far ive had fairly good luck in the market. My fathers taught me alot when it comes to real estate and i still have alot to learn but heres a few links you might find helpful.
http://www.reiclub.com/articles/real-estate-entrepreneur
http://www.advancedaccess.com/marketing/
(This site actually has alot of advanced discussion and tips about real estate and all that, very helpful)
http://buy-flip-sell.com
(I actually payed for this a while ago and it definitely helped me get the basics and get a feel for what i was actually getting myself into )
Hope this helps!!! |
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Las Vegas Realtor
|
I'm not sure of what classes to take, but beware...there's many out there that just want your money.
I answered a similar question recently, so I've pasted the info below because I think it applies equally to your question.
My advice is to start small and start with something you can RENT OUT and at least break even your payments if you can't sell it right away. You can get into higher risk/reward/flipping situations after you get more experience.
Start by reading a few books and stay AWAY from internet! Yeah, it may sound like strange advice, but let me explain... There's so much junk out there and so many scams to get your money the info you'll find on the internet can be difficult for a beginner to figure out what's legit and what's a waste of time and money.
I'm also not a fan of the many real estate investing "gurus" which offer high priced seminars and coaching. Although, I do recommend reading some of their books. In my opinion, it's ok to drop $10-$20 on a book (better yet, use the library) because you'll probably get something out of it, but hundreds or thousands of dollars on coaching and seminars...ouch!
So, start with a few books. Check the library for "real estate investing" Try authors Robert Allen and Russ Whitney and whatever else you can find. Find yourself a local Realtor with investment experience who you feel will provide knowledge, direction and research, in addition to just showing you some property and go from there.
The less money you have to get started and the less qualified you are for financing can make starting out extremely difficult, but not impossible. You can make great money from investing in real estate, but it's not always easy and how much money you make is completely up to you. If you're starting out with very little cash, you'll have to be creative and you may find some good ideas in those real estate investing books. I know of one investor who shall remain nameless who started out buying a fixer. His father co-signed the loan (because he didn't have any money or a job). He came up the 20% down payment and closing costs from credit cards and then balance transfered the balance around for a few years while paying it off. He lived in the home while fixing it up and also rented out the extra rooms which covered most of the mortgage. Eventually, he moved out and rented out the entire house and was getting about $1200/mo positive cash flow until he sold the property for a profit of about $150k. He's still buying, selling and renting property, but no longer needs to rent out rooms ;)
Best of luck and remember...buy low, sell high. |
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s t
 |
Try joining your local REI association, attend a meeting and do your research. |
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kemperk
|
why do you want to become a counselor
and a RE investor?
regardless; 95% of those who try to flip
profitably are not able to do so--because
it requires a unique situation; it requires
having access [quickly] to an investor
who will buy from you at your profit
price.
I counseled 3 friends not to flip
and 6 mo later, they had invested
over 300 hours and had not found
one deal. Count those hours.
IF real estate excites you, why not
get a double major and study
how to find good deals and KEEPING
them; that is where the money is made--
building equity.
[if you follow this logic of mine
you would not buy a house in a market
that is vacillating rapidly but instead
in one that is stable and increasing
maybe 5-7% a year, not a month. |
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Booyakasha
|
NOT A GOOD TIME FOR REAL ESTATE VENTURES. |
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