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Old 07-01-2009, 05:43 PM
 
13,451 posts, read 23,486,427 times
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Quote:
Originally Posted by Allan Trafton View Post
The investment/rental business is a mess due to the housing bubble and the inflated prices people paid for properties. The price of homes was increasing 10+% in most of the country and rent were increasing in the neighborhood of 1 or 2%. Sometimes not even that. Therefore the rent/mortgage equation is out of whack. Home/Investment properties prices are dropping, but it will still be a year or two before buying a rental makes sense. I own a rental property, which I purchased in 1997 near a university. It's worked out for me, but it takes much work. A good owner will stay on top of things such as: repairs, upkeep, upgrades, screening tenants, etc.. If your not willing to do this, do not buy a rental property. It will become a nightmare. You must stay on top of all things, both large and small, if you want to be successful. This is not an easy money type of thing.
I agree he works his butt off. He's 27 and his wife is spanish so that makes renting and communicating to the tenants easier. He buys a lot of appliances off craigslist for $50-$100 because tenants trash them. Low income housing is tough, you have to work 24/7. He earns his money.

Single family homes can be less stress but you have the great chance of vacancies. I know a guy who owns two townhomes in Denver and rents to Doctors. Pretty easy money.
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Old 07-02-2009, 07:56 AM
 
Location: East Northport
3,348 posts, read 8,775,766 times
Reputation: 1317
Quote:
Originally Posted by M3 Mitch View Post
You can hire a property manager if you have enough postive income to pay for their services, depending on how "hands-on" you want to be.
Keep in mind that, even when you have a property manager, you need to stay on top of things. There is no such thing as a passive real estate investment.
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Old 07-02-2009, 09:21 AM
 
28,461 posts, read 75,357,605 times
Reputation: 18525
Default Sure there are...

Quote:
Originally Posted by TomMoser View Post
... There is no such thing as a passive real estate investment.

REITs!

Not many are doing so hot right now, but the could REIT firms return a pretty nice percentage if their segment is solid. Problem right now is no segment is all that solid and some are absolute quick sand...
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