All Forum Posts by: Shaneel L.

Thank to guys!! Thanks so much.

So basically I should look for a house that's in for closure and buy it... I'm having tough time finding an good real estate agents. Most are ok, and want a exclusive letter agreement. I've told them I won't sign exclusively!

I might look at some forclosure property and use the selling agent as my agent.

Thanks for helping people!

Thanks for the reply everybody! I'm shocked how many honest n helpful people are here!

You guys made me pumped up! Now I can't wait to find a property and rent it out!

Thanks again everybody!

thanks for the reply! yes, im looking it as a long term investment but trying to make a living of the SMALL RETURN (300). i know in the long run it will double and etc and it will take time.

capital is not a problem. im just hoping I can find some good properties and be able to rent it out quick. since im new in the business, im nervous about what happens if nobody wants to rent my apartment and etc, but i am looking it in the good school area and etc, so hopefully I wont have that problem.

Anybody else had these nervousness when they first started? how did it turn out?? thanks!~

Has anybody made serious money in rental? i know it builds over time.

Im looking to buy some houses around 65-80k and rent them out and slowly build up to enough houses to make some solid cash. anybody has already done it?

Im looking looking at lets say, 1 house about 70k put 20% down, your mortgage is about 350, PM and other maintenance and insurance cost cost $250 more.

You can probably rent it out 850-1100 in those area where im looking at.

lets say i get a tenant who is paying $900 a month and my expense is $600

Im making $300 on each property. $300 is not much and wont last long but if you can own 50+ houses you are making good money.

I understand your first 4 houses you can finance it after that its a different method.

I would like to hear other people thoughts and suggestions. Can I make money this way?

1 thing i've learned is that it takes money to make money!

BTW, im based in Lawrenceville GA, Atlanta Ga. Any agents or fellow member have some things in GA, I would love to check them out and learn from it too.

thanks for the reply.

Like jon said if i buy 1 house with full cash i'll be making around 7% if i finance few houses with the cash i have i'll be making around 11%.

I was leaning towards that idea which he also supported so im sold for that.

lending money to people is not for me. i dont think u can make good money in the long run.

Buying a house now with the current market is a good idea to me, the prices are more than half down from which it use to. So i can make 11% a year and also double the value few years down the road seems right.

and also yes i have other businesses to take care, so i will start out with a PM. btw, I also own few commercial properties where my business is. I think sometimes its harder to find commercial tenants to house tenants. both the stuff has it pros and cons.

thanks for the replies guys. I will hire a PM for now and just to see how they handle sutff. learn from them and see if i can do it myself.

I agree about the handyman. I own a retail business, im sure i can find many good handyman.

Jon, thanks for comment. i want to try the housing market for now and see how it does for me.

you said you take 50 calls do about 10 showings. what are best ways to find tenants? just put a sign outside? and post maybe on zillow and CL? thanks!

hey guys, I am from atlanta ga i've lived here for almost 12 years. im thinking about investing in some real estate. I have couple of questions.

I have about 100k cash to invest.

im going to be buying house(s) around 65k-75k, so should i pay it out right and buy just 1 house or should I finance it? so i can buy 3 houses with 100k cash that i have, i'll just need to pay 15-20% down on them. my credit score is good.

by buying decent homes would i able to find tenants quick?

would I be able to profit 400-500 on each house? (if i buy a house for 70k with 20k down my mortgage would be around 350-400 and avg rent around here is 900-1100)

I know most say not to use a PM but since im new to this, i think i will try them out for few months see how they operate and decide.

How are other investers doing here? is there potential to make a good living out of real estate in the long run?