5
   

What is the easiest type of real estate to invest in for a newbie to get rental income?

 
 
bmor
 
Reply Sun 19 Feb, 2012 05:15 pm
I am looking for people already experienced in real estate who can guide me in the right direction. I want to invest in a property with a little outlay of cash ( minimum total investment) I want to go slow. I do not want someone to try to sell me a program or a piece of real estate.
What is your opinion on rentals? I don't want to be a slum lord....I want to be able to generate cash. flow. Thanks in advance
  • Topic Stats
  • Top Replies
  • Link to this Topic
Type: Question • Score: 5 • Views: 1,521 • Replies: 6
No top replies

 
cicerone imposter
 
  2  
Reply Sun 19 Feb, 2012 07:01 pm
@bmor,
I'm not what you call "experienced," but here are some basic rules.

a) keep the property for a minimum of five years
b) make sure the mortgage payments will not be a handicap when the property is vacant
c) owning property means also upkeep expenses *make sure the wiring, pipes, water heater, heater and ac, and roof are in good order, and no termites
d) buy on highland over lowland if it rains alot
e) make sure you have time to "manage" the property
f) yes, take it slow

I sold our income property when I retired.
0 Replies
 
jcboy
 
  2  
Reply Tue 15 May, 2012 07:26 pm
@bmor,
I don’t like taking changes like that. We bought a rental property, the house next door, but we bought it outright so no mortgage. It rented right away. If it were vacant all we would pay would be property tax and insurance.

If we had a mortgage on it and had to rely on the renter to pay for it I never would have bought it.
cicerone imposter
 
  1  
Reply Tue 15 May, 2012 08:21 pm
@jcboy,
I think there are pros and cons concerning the purchase of property with cash or a mortgage. I would talk to someone with knowledge before making a commitment.

With current interest rates vs cash, one needs to determine the return of the property vs other investment vehicles during the term of the mortgage loan.

Interest payments can be deducted from your income tax return.

Good luck.
0 Replies
 
gungasnake
 
  2  
Reply Thu 27 Dec, 2012 06:59 am
@bmor,
Renters have a way of destroying houses. Anything I ever bought to rent would have to be an apartment building, and not a house. That means solid construction, but the individual units sparse and easy to redo between tenants.
0 Replies
 
pabitragroup
 
  1  
Reply Tue 13 Aug, 2013 01:42 am
@bmor,
Well, you are looking for some experienced people, here I am. We are investing in properties in kolkata for more than fifteen years and built a huge numbers of apartments in Kolkata. If you want to generate your cash flow, you have to find some really promising property in your surroundings. Promising means, the property could be valuable after a few years. And after that you could search for some buyer who will give you the proper price for that property.
0 Replies
 
ochomefunding
 
  0  
Reply Tue 13 Aug, 2013 03:20 am
@bmor,
You can invest on condos and apartments and put them on rent. Going slow is the key element when it comes to the point of making money from real estate.
0 Replies
 
 

Related Topics

Go buy a f'n house! - Discussion by Slappy Doo Hoo
Foreclosed Properties - Discussion by Brandon9000
Invest in Real Estate or Stocks??? - Discussion by baken
Mobile Home Model Name - Question by Moonlit
Foreclosure - Question by davidsaadatph
Question on apartment deposit...? - Question by tsarstepan
Houseboats? S(t)ink or swim? - Discussion by tsarstepan
 
  1. Forums
  2. » What is the easiest type of real estate to invest in for a newbie to get rental income?
Copyright © 2019 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.03 seconds on 12/09/2019 at 04:49:14