All Forum Posts by: Willis Seng

I am currently a sophomore in college and I am very interested in REI. But, in order to do that, im going to need a job with a steady income to start off my investing. Anyone have any ideas for a part time starter job in the real estate catagory that I can build on. thanks!

Has anyone heard of zillow.com? Its really new and its still in the beta stage but its free. You can search up houses and stuff and see the market value. Not only that, it shows graphs and charts for appreciation for houses. just thought this is a cool tool to see the rate of appreciation for a house.

mmmm... median 130k and rent goes for about 1300 for 3 br.

i've used realty trac a few times for foreclosures and the same thing happened to me. I called 3 foreclosure ads and they were fake.

cool, makes sense. So a property would be a good investment if it is below 5% market rent and could cover about 50% operating expense with mortgage right?

Lets say the mortgage on my property is $800. Expenses = 50%, to be on the safe side. So, would $1,200 be a reasonable rent rate for this property?

What is the best way to find rental and vacancy rates for an area?

What are the disadvantages of flipping REOs?

ahh thanks.

I was just thinking, if I were to flip a house and sell it for 25% more, what would that get me in terms of profits, because i know tax takes a HUGE chunk from the sale. If I sold it for 25% more and tax takes out 25% wouldn't I be breaking even?