I'm really thinking about getting into Real Estate investing.

[Donald J Trump]

You mean industrial units ? if not then i'd ask you to quantify the amount of land
you intend to acquire over a decade.

Everybody starts somewhere breh

Breh, its already acquired...its being passed down to me.
Just last week, a piece of land was bought for $580 at and auction, and in 3 years will be sold for between $7000-$10,000.

But hey, what do I know

 

[Doobie Doo]

My pops bought a triplex in his early 20's and fixed it up. He took one unit to live and rented out the other two. Those two rents combined to pay his mortgage so he was essentially living rent free.

 

[aXiom]

Commercial real estate >>>>>

• Build investor list and find asset based lenders
• Find commercial properties with an owner whose held it for .10-20 years
• Send letter to express interest and multiple follow ups
• Negotiate owner financing
• Borrow funds for 10% from investor to give seller
• Take over property from seller
• Borrow against property from asset based lender
• Payback investor for bridge loan
• Force appreciation by raising rent or reducing operation costs
• Hand over to property management company

Rinse and repeat...the best type are industrial/office buildings with triple net lease tenants.....apartment blocks are a b!tch for regular investors :pharrell:

Off course there's things to consider like deal analysis, negotiation skill, copywriting
and also the local job economy but a deal like this will provide you with income from day one and you can get discounts with contractors since all your jobs are under one location and best of all property mgmt handles everything.

Hell you can give up an apartment to a manager rent free so he can deal with everything on site.

See, now this is one of the rare times on the coli where a gem is dropped in its rawest form..

Don't put it in the cage, don't mistreat it
You say you hunger for knowledge, here it is eat it

However..

If you don't see it then it, wasn't meant for you to see
If you wasn't born wit' it then, it wasn't meant for you to be



+rep

 

[Donald J Trump]

See, now this is one of the rare times on the coli where a gem is dropped in its rawest form..

Don't put it in the cage, don't mistreat it
You say you hunger for knowledge, here it is eat it

However..

If you don't see it then it, wasn't meant for you to see
If you wasn't born wit' it then, it wasn't meant for you to be



+rep

Yea that was some real shyt, also another thing I would add is go to the yearly courthouse auctions and buy up land from people too stupid to pay their property taxes.

 

[Boogie]

Being that I and my family are actually in the industry your trying to get into, I'd suggest you respect my mind, Imma have 10+ units (not even mentioning land) in my sole possession within a decade.

What's the best place to start...I'm really interested in apartments/multi family units.

Single family seems too risky to me. Especially in Cleveland.

 

[Donald J Trump]

What's the best place to start...I'm really interested in apartments/multi family units.

Single family seems too risky to me. Especially in Cleveland.

You got any experience in that industry breh?

 

[Cynic]

Breh, its already acquired...its being passed down to me.
Just last week, a piece of land was bought for $580 at and auction, and in 3 years will be sold for between $7000-$10,000.

But hey, what do I know

LOL then those of us who aren't in a family business had to start somewhere too...

Either way $580 for land ? WTF are you in America? or is there a nasty lien on that land ?

 

[↓R↑LYB]

Obviously not

OK. Yeah you only need 20-25% down. If you're serious about it, check your credit score to make sure everything is straight

 

[Boogie]

You got any experience in that industry breh?

I have zero experience in all of this. But I figure we all have to start somewhere. I'm trying to get my network up right now.

My sister is a banker so I can get some info from her. I plan on talking to the owner of my building see if he have any advice for me.

 

[Tilesp4p]

Good Thread, hope brehs keep adding knowledge on...trying to soak up as much as I can.

 

[Perpetual Beast]

Why you gotta put in so many hours?

I thought you just sat back and watched your money stack

Well, yeah youre right actually...I take it back... it all depends on your appetite and how fast you wanna get things done/how much money you wanna make..

If people are cool with 10000 a year passive income and then selling it later years down the road, by all means...but I always feel like you cant just go a little bit into something like that...real estate you gotta go for it all

 

[Tunez]

I invested $5 on a condo

 

[Donald J Trump]

LOL then those of us who aren't in a family business had to start somewhere too...

Either way $580 for land ? WTF are you in America? or is there a nasty lien on that land ?

actually it was like $420, but after 3 years of paying taxes it will be $580, and it will be sold nothing less than 7 G's

 

[Cynic]

actually it was like $420, but after 3 years of paying taxes it will be $580, and it will be sold nothing less than 7 G's

how much are the taxes ?

 

[Donald J Trump]

how much are the taxes ?

around 50