Real Estate Investor · Union City, GA · Member since 2012 · 13 posts · 0 votes
I am Angela , and I was an Investor for several years I Made lots of MONEY .
My son became ill in 2008, and I Laid OFF the Investing, and remained in the Commercial Lending Area part-time until NOW.
I am ready now It’s time to Revive Investing full-time.
I am documenting this journey. Today was DAY#1 Driving for Dollars felt GREAT…I found some great pockets. I am being Revived by a PRO… That was me back in the day.
I am going to give it 12 months strong…110% Let's see where it takes me, Sept of 2013 (End of Year Documentary) Is it going to be a GRAND Year of course… I expect the best...
Foreclosure Specialist · Miami Beach, FL · Member since 2012 · 131 posts · 123 votes
13y
Your enthusiasm is great! I wish you the best of success. So what is your game plan? Do you have an idea of what you want to invest in? Are you looking to wholesale, get into the rental market or flip properties?
I personally would recommend investing in discounted single family residences. Here is why I think it works in this economy:
1. Distressed properties (Foreclosures, short sales, REO etc) are readily available and are being sold for cheap.
2. Because of the restrictive lending requirements, loans are hard to get forcing many people into renting. If given the choice, people like renting homes more than apartments.
3. As the economy improves and lending requirements relax a little, these renters are going to want to buy.
4. As demand increases and the economy improves, so will real estate prices.
My research indicates that if done properly, the yields will be between 15 - 20%. I estimate the holding period to be no longer than 5 years.
Good luck. I will keep an eye on this post and see how you are doing.
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
13y
As things change - you need to change with it or you will be left behind. An investor must always stay current with all the changes as well as continuing education. When you stop learning or stop learning those new tricks - it is time to dump dirt on top of you.
Having being an investor before you know you need to choose a specific area to specialize in. Once you decide on a niche market, you then need to get all the education available on that particular topic. Once you feel ready then you act. Some act too quickly without learning first and then find themselves losing money instead of making money.