My name is Mike and im 18 years old, i have been trading the markets since March of 09' and made a killing:cool: I would like to get into real estate and i have no idea where to start.
Smart kid, no doubt. Use to be a day trader myself. Made tons of $$$, but Hubby is the nervous type. Welcome to BP. What area do you want to dive into?
-- Dawn
Thanks. Well i would love to get into a positive cash flow prop. But the problem is I dont make a lot of money a year at my job, maybe 15,000 a year if that. But in the stock market i made a boat load more, but havnt sold my long term picks yet.
So if i buy a building thats 500k and the monthly bill will be like $1k.....well you see what i trying to get at here.
In order to postively cash flow, the rents will cover your expenses. Look up the 50% rule in the forums and you will find a lot of information on how to determine if a property cash flows. I think you will find that most of the cash flowing properties are lower valued, and are not in the most desireable locations. You don't need 500k to find a cash flowing property.