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To people thinking about dipping into real estate again..i'd hold off for at least a year. Prices are kind of high atm (which is why i'm selling my place.) My real estate agent even told me that i'm lucky that i'm selling my house right now because the fed is starting to get shifty with interest rates again. Once they increase rates I have a feeling prices will free fall. When that happens I may enter into the market again but only as an investor for some rental property.
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It is not about the city or state. It is about the math.
If you buy a 50,000 home that rents for $900 a month, that is roughly a 20% yield on your investment.
Any rental yield above 7% of the cost of the home is considered good in the landlord world. 20% is huge.
I bought his course many years ago and even went to one of his seminars in April of 1997 when he came to Chicago. I was able to meet him and talk to him for a while during our lunch break at the seminar.
With the housing crash that occurred in 2008, I am scared shitless about investing in real estate. I am glad I never invested (except to have bought my own home). It scares the crap out of me that real estate went down in value 34% since 2008. That's more than real estate went down in value during the great depression (it went down in value 32% during the great depression).
I also went to several Dave Del Dotto seminars back in the mid 1990's. He was all over late night tv at that time selling his real estate courses. It was nice to meet him and talk to him for a little bit, he does seem very knowledgeable about real estate.
I had dreams of becoming a real estate investor but those days are OVER, thanks to the housing crash. More people have lost their homes during the "great recession" we just came out of than people did during the great depression!
The housing market is still horrible in America. Even with interest rates at near record low's, the housing market is very slow and in some parts of the country, real estate is STILL going down in value!
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Yeah but where are you finding this type of yield..what neighborhoods? 20% is really hard to find anywhere.
It's certainly not where i'm living where real estate is already sky high.
No it's not. You are supposed to do background checks and credit checks on potential tenants. You can hire a property management company to do it for you.
Deadbeats or those with criminal records usually can't rent in America. They have to stay in motels or bad places in bad neighborhoods. That's why you find them in cheap motels.
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If there is not enough money in the system to pay the rent on the property to pay the loans back you have a problem, here in the US if they are taking all the drivers out of the economy so you barrow to expand your business and create jobs how is the money going to be out here to pay it back if people are not working? Look at the real unemployment #'s, your home is supposed to be your sanctuary not a casino system of profit and portfolio inflation.
Even when they tell you own it you don't, try to not do what the state tells you with your property such as pay property tax and so forth.
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Your whole civilization is going to be deadbeat unless we protect property rights, go read the essay done by Alan Greenspan called "Gold and Economic Freedom".
You know the interesting point the people have made who are running this con job is how stupid most people are and the fact they cannot see outside the box they have been programmed to adhere to.
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My advice to the younger guys on here is to consider owning property in terms of generating a long term income stream, which will eventually allow you to live abroad in a location where you have a higher dating value.
In terms of the UK property market my own opinion is that it's not a bad place to invest for a long term return. The UK has an expanding population with restricted building laws, plenty of tennent demand and the rule of law.
If I was young I would stay at home as long as possible and buy properties and rent them out. Sure you are not going to get rich overnight, but long term you will have regular income that could help you move abroad if that's what you want.
Who exactly is the expanding population in the UK, is it the white indigenous people of the land or foreigners the Illuminati are importing and propping up with social welfare in order to dilute the whites so they risk less chance of a cohesive uprising to challenge rule by non democratic decree?
England has no real economic drivers besides war and debt, it is a warfare welfare state just like the US has become. Knock yourself out!
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Details..which neighborhoods or cities in the U.K. are worth investing in? Real estate there is pretty sky high in most cities as well
If you want to make money in real estate for cash flow, forget about buying single family residences to rent out, buy multi-unit properties or apartment complexes instead. It can be a little more complex but if done right, the rewards are much greater.
If you're into flipping property, single family residences are easier to deal with but for actual passive income, multi-unit/apartments all the way.
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I've been chasing the 20% returns for years. It's like the Holy Grail for me. But alas, the best I can do is around 16%-17%, less after maintenance/repair expense when tenant moves out.
Is that with a rental property (single residence) or an apartment building? Does it have an outstanding mortgage that impacts the profit?
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