Updated about 10 years ago on . Most recent reply
Looking to Learn
I am new to the forum and new to the world of real estate investing. I am starting to look into educating myself on the potentials and pitfalls of getting into real estate. I am just at the very beginning of this journey. I welcome any advice or resources that will help me be more informed and successful in future deals that may come. It's great to be here!
Most Popular Reply
Scott,
What Michael said is true. There is actually a whole boatload of money to be made, but, unlike the television shows or the investing seminars, it's hard work, lots of research, and even a tad of luck. I've made a decent living flipping/keeping. That means, I buy a house knowing ahead of time if it will make good rental property or if it's prime for a flip. I flip about 6 a year, averaging about $12k per flip. Getting $30-70k per flip might work for big investor/flipper teams in the expensive markets, but here in flyover country, it just ain't so.
Be prepared to do a ton of work, lots of hours, and be prepared to NOT BUY THAT HOUSE that you want, but the numbers don't work.