All Forum Posts by: Dustin Taylor

I was thinking that I could buy 2 acres, subdivide it into 2 lots an acre, and lease the lots for 350 per month for someone to move a mobile home or RV onto. I estimate it would cost about $20,000 to subdivide, add septic tanks, and have power installed. It seems like a good investment and I calculated that I could make around $13,000 a year. Does this seem about right to y'all?

UPDATE: Now the person that is putting me in their will has said that they would rather me sell the house. So I will be selling it instead of leasing it out. I will use the money as a down payment on different property. I don't know too much about that though.

Thanks everyone for the replies. James- I will look into getting a business degree at my local college. Next year I am going to try to get into a business class at my school. Ben-Thanks. Nick- Thanks for the tip, I will try to find someone in my area that wouldn't mind teaching some stuff.

Kelly, Thanks for all of that information, I will start looking in to all of that. The property manager is a good idea and I will more than likely do that. I have read about duplex/tri/quadplexes and that seems like a good 2nd investment. I am a little confused about down payments. It seems like it would a long time to make my money back from doing that. Is there a certain way of doing things on property with a down payment?

Hi everyone, my name is Dustin. I just got interested in real estate investing a few days ago. I'm 16 right now and I'm trying to learn everything that I can about investing so I can get off to a great start at a young age. I'm from a small town in southern Alabama named Ashford. I hope to one day own a nice amount of rental properties and be able to flip property. So far this site has been great and I look forward to learning more about this career choice

Hi Kelly, thanks for the help, I really don't know much about the house other than its previous owner doesn't currently owe anything on it. It will need a little bit of work (interior painting and a little yard work). I'm only 16 right now so I don't know too much about mortgage, property tax, etc. But any tips or info you could give me I would greatly appreciate. Thanks

I am going to inherit a house soon. I just started thinking about getting into real estate. I was thinking about leasing it for 600-700 a month. It's not too great of a house but it's okay. Would I be better off selling the house or just leasing it? I figure that I could probably get around 30k for the house. Whichever way can get me the best start in my REI career is what I'm looking for. Thanks

Geoffrey, thanks for the welcome. I know, I've already learned quite a bit from this site. More than I thought I'd be learning

Hi, my name is Dustin and I'm 16. I just found out that I'm going to inherit a house soon. Nothing special, just a typical one story house. Anyways, I've been thinking about leasing it and getting in the real estate career , it seems kind of fun to me. But I'll be honest, I don't know the first thing about real estate. If someone could give me some information about everything, maybe e-mail each other or something, I'd appreciate it. Thanks