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It seems instead of alot of promotion for flipping seminars, buying houses for no cash etc I'm hearing/seeing a lot of commercials for investments in rental properties for investment. Also heard alot of flipper will buy house for cash types ask/check and see if the house could be rented out.
Is there a shift from house flipping/selling to buying property to rent out? Is renting the new money making trend in real estate?
Renting has always been a money maker. Like flipping rehabbing selling it’s a matter how it’s managed and approached. Renting to me is a long term strategy as it requires the rents to outgrow your payment. I’ve been lucky in that sense
Renting has always been a money maker. Like flipping rehabbing selling it’s a matter how it’s managed and approached. Renting to me is a long term strategy as it requires the rents to outgrow your payment. I’ve been lucky in that sense
The commercials or even words 'rental properties' will attract many that will not be patient or think long term. Just like the flipping market became flooded with amateurs or quick buck types I see the same type of trending in rental property. I think many want the rents to cover their entire payment right away which could price them out or cause turnover. In some markets anyway.
The commercials or even words 'rental properties' will attract many that will not be patient or think long term. Just like the flipping market became flooded with amateurs or quick buck types I see the same type of trending in rental property. I think many want the rents to cover their entire payment right away which could price them out or cause turnover. In some markets anyway.
It sounds like a lot of people are gonna lose their butts high means a lot of other people are gonna make money on their mistakes. People make stupid investment decisions all the time. Life’s rough like that
And that's the thing. You can't always look at something as an investment. The landlord has to look at the tenant as exactly that-the person paying them for a place and x amount of services and quality. The best landlords I had were also some of the cheaper ones, not cheap but cheaper because they actually took pride in their units and services. They knew they were in the hospitality industry and not just trying to make a buck.
And that's the thing. You can't always look at something as an investment. The landlord has to look at the tenant as exactly that-the person paying them for a place and x amount of services and quality. The best landlords I had were also some of the cheaper ones, not cheap but cheaper because they actually took pride in their units and services. They knew they were in the hospitality industry and not just trying to make a buck.
I have long term tenants. Few year long then leave type but all my current tenants have been with me for 5 plus years with one exception who has been two years but she isn’t leaving.
While I am in the “hospitality business” it’s very limited. And while I keep my rents lower than going rate I still need to make money.
It seems instead of alot of promotion for flipping seminars, buying houses for no cash etc I'm hearing/seeing a lot of commercials for investments in rental properties for investment. Also heard alot of flipper will buy house for cash types ask/check and see if the house could be rented out.
Is there a shift from house flipping/selling to buying property to rent out? Is renting the new money making trend in real estate?
Because flipping now when property values are up makes less sense. A few years ago you could buy a house cheap put money into it and make a nice profit. Now it's a risk. Now that the market recovered and rents are going up it's better to rent it out.
When the market crashed investors bought homes cheap but could not sell them so they rented then out and sold a few years ago. that's how I bought my house on the tail end before prices shot up and doubled in three years for my starter home. The guy bought it and fixed it a little to make it rentable, rented it for 8 years and sold it, he also did that with the house next to mine and he had a few other properties.
Then he bought the house next to mine that was in bad shape, put some money into it sold for twice what he paid minus what he put in and sold to a flipper because he didn't want to fix the bathroom and kitchen so he left them empty, the 2nd flipper broke even or maybe lost money, and now it's rented.
Also those seminars are scam artists, if they could make money doing what they say why would they teach you how to do it.
For a while there was a seminar scam where they would get people to pay $10s of thousands to tell them how to make money buying mobile home lots. The problem is that there were then 1000s of people looking and no cheap lots to buy.
Some people prospected for gold and went broke. Most never struck it rich but plenty did find some gold.
Some people sold the prospectors tools and food and got rich. Some were charlatans that sold Prospectors phony Gold Detectors Guaranteed to make prospecting a sure thing
Seminar pitchmen tend to be in the latter camp.
Fixed it for you. Plenty of people make money in Real Estate, either as flippers or landlords. They don't learn it at a seminar.
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