Question

[HeadbangerParticipant 410]

I am 22 years old. I work a job… But I’m trying to get started in rental real estate for a side hustle to work for myself too. I have excellent credit… But does anyone have good advice or tips on how to get started in having investment properties?

She asked "Describe our relationship using only two words." I said "Our what!"

[HeadbangerParticipant 410]

When I last looked into it, a lender didn’t want to give me a chance with a loan. The idea I had, was to get an investment property with credit, and pay off that good debt with most of the income that I make off the property every month until it’s paid off and rinse and repeat with other investment properties.

She asked "Describe our relationship using only two words." I said "Our what!"

[MonkParticipant 16979]

Lenders like (1) a successful track record. (2) Collateral. Preferably property. See (1). Or failing that (3) a serious amount of cash upfront.

If you are starting from rock bottom, your best bet is to buy a slum and rent rooms to scumbags. That can be very lucrative, but it’s not for the faint hearted.

[TaxGuyParticipant]

Do you already own a home? If so, then move out and rent it. If not, then buy yourself a place that you want to use as a rental. Maybe a duplex or triplex? Then you can eventually move out and rent all of the places.

Order the good wine

[BeerParticipant 11832]

TaxGuy wrote:

Do you already own a home? If so, then move out and rent it. If not, then buy yourself a place that you want to use as a rental. Maybe a duplex or triplex? Then you can eventually move out and rent all of the places.

Definitely this. Requirements to qualify for a mortgage on a primary residence are lower than for an investment property. You’ll be able to get a mortgage with less down and at a better rate if its your primary residence. Additionally if you plan on buying fixer uppers cheap and working on them yourself before renting them out, its cheaper for you to live there while you work on it than it is to just have it sitting there empty while you work on it and pay to live somewhere else.

[JB BooksParticipant 3182]

Work at least two jobs, saving and investing as much money as possible. Build up your credit. One way is to get NO FEE credit cards, buying just a stick of gum with them and ALWAYS paying on time. Learn how to fix s~~~ and how to properly select a good tenant (this is critical). When you can qualify for a mortgage, get a two- or four-flat that you can live in AND rent out the other unit(s).

We just don't realize life's most significant events while they're happening. Back then, I thought, "Well, there'll be other days". I didn't realize that that was the only day. - "Moonlight" Graham

[MarketWatcherParticipant]

Buy it owner occupied and then rent it out.

[AwakenedParticipant 35200]

Save up enough CASH for a down payment on a 3 family to live in, and continue BUILD excellent credit as well. Live there and purchase another when you have saved up enough for the next down payment.

Usually 20 percent down is a decent down payment, and it will save you the expense of mortgage insurance. Also, it’s VERY HELPFUL to also still have CASH in your bank account to make emergency repairs and general repairs/improvements as well.

If you’re thinking about larger buildings that require commercial loans you’ll need A LOT of cash down, and many commercial lenders prefer to work with clients that have track records in real estate and/or a LARGE down payment.

As far as those info-mercials that promise to make you rich in real estate using other people’s money blah, blah, blah. They’re in the business of selling dreams.

In a World of Justin Beibers Be a Johnny Cash

[bladeParticipant]

Housing will crash . Like the old tulip economy .

Don’t listen to these guys . Go live life to the max . Adventure . Enjoy life now . Life can end anytime . At the moment i am sitting with a hole in my head nearly down to bone a bit bigger than the bottom of a 1.25 litre coke bottle with two types of cancers they wreckon one is unknown . I am now a minalist and so glad for the life i lived . Money and pussy chains of the plantation .

Many rich people are miserable people and lonely who to trust . Pressures of payments . Oh freedom when you get old f~~~ that .

Pussy and money rattle rattle .

Do you know back in the day when the goverments f~~~ed us all over and sent all the factory jobs to the 3rd worlders . Most c~~~s set up buisness lets say . No f~~~ better not . I watched my home turn into a city . It was built on corruption . So many filthy hidden secrets all to make it look good .

Learn to sail buy a yacht .

Be free .

I was refused medical help last year for what i have now .

Life goes buy in the blink of an eye and that blink can end anytime . We are lucky just for the chance of life .

THE PLANTATION HAS NOW TURNED INTO THE KILLING FIELDS . WOMAN ARE NOW ROLLING CAMBODIAN STYLE .

[HeadbangerParticipant 410]

Even if housing crashes, the true value of the property to me would be the rent income every month.

She asked "Describe our relationship using only two words." I said "Our what!"

[Daryll55Participant 2950]

Monk wrote:

Lenders like (1) a successful track record. (2) Collateral. Preferably property. See (1). Or failing that (3) a serious amount of cash upfront.
If you are starting from rock bottom, your best bet is to buy a slum and rent rooms to scumbags. That can be very lucrative, but it’s not for the faint hearted.

^^^^^^^^^^
What he said:
I have a distant family member who is doing the “Section 8 Slum Lord” thing. He’s bringing in all kinds of cash, but he also gets police calls at 2 am., rents to drugs dealers,single mommies that can’t pay (hence the section 8), and scumbags that trash his apts. Mind you he’s a scumbag too,(stealing storm doors from other section 8 housing owners) and scoping out their prop when the landlord is in trasition between scumbag tennents. Itsa Full-time job, and you deal with the slimiest low life there is on Planet Earth. oh, you need $$$ too.
He seems to like it,……not for me though, F**k that noise !

Marry again, Hell NO ! ( Even JESUS was hung on a cross just once)

[bladeParticipant]

Headbanger wrote:

Even if housing crashes, the true value of the property to me would be the rent income every month.

Good luck i wish you the best . As far as every c~~~ is concerned appear broke . Don’t let people know your plans . If they see you succeeding they will try sabotage you .

I have a friend who between him and his family is lets say huge . He and his family are original no not aboriginal. That man i knew from a kid and is much older than me . He lived on that property no power nothing and nailed a shack together . He lived with f~~~ all for so long . Basics . He got a wife . F~~~ i worry for him . Thats where he went wrong . He then built a simple house .

Another young guy mentioned going into buisness with family . Never go into buisness with family . Never let people know your ideas . Jealousy sabotage .

A rich man said to me once its about knowing the tax system . You got some smart guys on this thread .

Your dream will come true . One thing . You ever lose what you build don’t go killing yourself over money . I never understand men that kill themselves over money .

You stand your ground . Stealth . I beleave you will achieve your goal .

Oh a movie to watch . Lol .

Enjoy

THE PLANTATION HAS NOW TURNED INTO THE KILLING FIELDS . WOMAN ARE NOW ROLLING CAMBODIAN STYLE .

[narwhalParticipant]

The way I look it, owning investment properties is still a job, and a job should be something you enjoy doing. It’s sold as easy money, and it can be, but you still need to enjoy the work. If not, you might want to look at learning and investing in the stock market, or other jobs.

I had a friend who bought a self service car wash property. Instead of relying on tenants to pay rent, he just had to go out to the facility every two weeks to empty out the coin operated machine.

Ok. Then do it.

[HeadbangerParticipant 410]

That sounds good right there. But That’s also apart of real estate.. I think I’m going to try that, and a self-service laundromat first.

narwhal wrote:

The way I look it, owning investment properties is still a job, and a job should be something you enjoy doing. It’s sold as easy money, and it can be, but you still need to enjoy the work. If not, you might want to look at learning and investing in the stock market, or other jobs.
I had a friend who bought a self service car wash property. Instead of relying on tenants to pay rent, he just had to go out to the facility every two weeks to empty out the coin operated machine.

She asked "Describe our relationship using only two words." I said "Our what!"

[743 roadmasterParticipant]

On the crash thing, people have been saying that about stocks for from before I started investing. Will always be ups and downs in the market. I am a little worried about the leftist going ape s~~~ all over the place, which would have an impact. Outside of that,….

Find a nice loc buy use one of the on line rental things like airbnb these are short term rentals. Less a chance you get a crap renter. Unless you live in a state with squaters rights then I would buy a needs to be repaired and move in do the work myself and then flip the house.

mgtow is its own worst enemy- https://www.campusreform.org/

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