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Updated about 8 years ago on . Most recent reply

Account Closed
  • Ronkonkoma, NY
0
Votes |
9
Posts

Is this the best way to invest in real estate

Account Closed
  • Ronkonkoma, NY
Posted

for two years I've been studying real estate investing and it's gotten me no where. Especially since I live in the most expensive place in the country with astronomical taxes. Look at how many people these days are into real estate investing or starting website, there is a ton of competition and it's getting just as back as looking for a decent stock to trade. That is when your like me with no money. My question is how do people do it? How does somebody buy real estate making minimum wage in a dumb expensive area. I've came to the conclusion that the only realistic way to invest in real estate is to have a good job, to save, and then buy houses for 20% dp. And buy the time your done your done buying all these houses, you may get as much money as a cop pension aka $70k a year you do t have to work for until your dead. So do you guys have any tips or secrets for poor wanna be real estate investors like me? I've heard enough balogni about no money down deals selling contracts and living in a new house every year using fha loans. My dream now is to start a business (God help me), and save up enough to buy a 20+unit apartment complex that makes almost $50k a year after all expenses. I choose $50k bc at my job after 10 years that's how much you too off at but you must work for it. So my golden question is...how did you guys personally invest in real estate and what tips do you have for new guys like me who have read a ton of books over the past years with no hope still? I feel like competition is just getting too bad despite how big the market is.

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