All Forum Posts by: Account Closed

also never mind my grammar I'm typing on the smallest touch screen made and can't actually see what I'm typing lol sorry

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.

this was this first thing I read on a zoning person "Prohibit exterior physical changes to the home for the purposes of business" so chances don't seem too good

Say I buy a small duplex, on the same property could I build two more "tiny homes" and say the address was 235 a/b oak lane would it just be 235 a/b/c/d? This is probably a dumb question but I know dam well people build large sheds in front of their houses that are just as big as I very small apartment. Can this legally be done? Say I buy a duplex...on the same property can I legally building another smaller duplex on the same property and rent the small apartments out? Is this possible?

 Hey thanks for your input,  actually plan on investing in other states as tenants and taxes are my worst nightmare here, I do have a question for you since you seem very knowledgeable and I'm going to pm you if that's okay. Anyway I completely agree with what your saying, I just really want to get a start by flipping an already great deal and reaping profit and it would also give me experience, cash, and look better for banks and partnerships! Financing is my only difficulty especially if I plan for a conventionally loan as I don't want to live in the house for a year using fha, unless I could find a multi-family and rent one side and fix up the other and sell the house stating to the buyer that they will get monthly income..after a year though.

thanks I like your input on rehabbing, however I do believe some simple Decor could help buyers visualize themselves living in the space especially during an open house, what I would like to do, but sadly is also near impossible for me to get financing in my area to living on Long Island, is purchase a multi family home and collect rent while rehabbing. I have no idea how I can ever purchase a $250k home even with an fba loan if I make less than $25k a year. I feel like the only way I can possible scale is to flip houses and use that money for down payments for conventional loans to purchase houses.

thanks for the input guys I would reply to your post but I have no idea how to on bigger pockets, I would love to get started flipping "that" first house so I can eventually save and get expirence and start buying hold and rent homes

so would you say it's better to leave the decor for the buyer or to keep the decor for the next flip? 

is it a good or a bad idea, to decorate a house flip. Say I can get all the furniture and lights and decor for free. Will that make any profit or decrease value. Ignore my idea of its bad but I make minimum wage and can barely afford to live but want to somehow get a house and start flipping, of course I'd make the floors and lawn look nice and fix repairs having saved some money. But my main question is, imagine I bought a house, and instead of leaving it blank, decorated it and the rooms with some couches and pictures maybe even a flatscreen tv (assuming I got it all free and not stolen) etc etc etc and I'm not talking about paint, just the stuff you put in your new house to make it feel at home. Do you guys think that would increase the value to the PEOPLE? I know it's incredibly hard to stand out from competition especially if you me so this is just an idea please don't citizens my thinking.