How much do you earn?

Question

If you buy real estate.. How much can you earn from that and what do you need to start in cash?

Jim Wineinger · Answer

That realy depends on which school you went to! :oops:

Jeff NA · Answer

I think you can probably lose a few billion dollars, or make a few billion. Or fall somewhere in between.

I heard that the first thing lawyers were taught in law school was how to say "It depends."

Account Closed · Answer

I hope it depends upon the time and also area. It is not permanently fixed.

Chris F. · Answer

Send me $999.95 and I'll tell you exactly how much

Justin S. · Answer

Bjorn-

It depends on what you want to do.  If you have little cash to buy houses then you need to get creative and do sandwich lease options or sub2s.  To market for those you should have a few grand in the bank.  This will cover direct mailing costs, pre-foreclosures listings, bandit signs, postcards, etc.

If you want to do fix and flip or buy and holds be prepaired to have 20-25% of the purchase price + repairs+holdings+etc. to come out of your pocket.

I started with a few grand about 6 months ago and I'm hoping to close my first deal next month.  There is definitely a learning curve, if you want it to go quicker get yourself a good mentor (Nick Johnson).  But do not waste thier time.  They'll drop you like a bad habit.  Good luck and you'll never know unless you try.

Jim Wineinger · Answer

If you BUY real estate, you need the amount of cash that the seller is willing to sell for.

When you sell you sell for what you can get. The difference is what you make!!  If you bought a couple of years ago you bought at an average of about 150K and if you sold today you sold at an average of about 80K so you LOST about 70K.

What you can make ranges from losing everything to making everything depending upon how many deals you can do and your timing combined with your due diligence in selecting the correct deals. IT IS ALL UP TO YOU!!!!!

Ana Hyler · Answer

I think it's a broad question...but fair ! I can tell you I started with $7000 to buy a very run down house... I fixed it and fliped it with my monthly income...currently I own 7 rental properties and growing...all this in 4 years or so....I'm not full time though.

Michael Rossi · Answer

Yes!