Real Estate Inspiration, Or Is It?

[ResidentEvil7Participant 9550]

I was watching a video based off of FYI’s Flipping Vegas, and it looks quite inspirational if you’re interested in starting a home flipping business.

According to the video, you don’t even need money to get started. Scott was only 14 and had no money, except $30K for an injury settlement, when he did his first home flip and sold that first house for $2.3 million. He states that he went to 5 colleges and dropped out of all of them, showing that you don’t have to go through colleges to have a successful career.

At a real estate discussion, Scott was told that you can buy a house for as low as $36K that would rent out for $900 a month. This means in 40 months (3 years and 4 months) you will start profiting.

Where I live outside Chicago, houses go from $250K – $2M, and I’m far away from being able to take a major gamble, but if and when I get that far, I don’ mind taking that chance if it can make you a lot of money on returns.

https://themanszone.webs.com/

[foolsgoldParticipant 5649]

It appears that we are in another housing bubble. The next crash we get could make the last one look like paradise. Don’t be left holding the bag. Good luck.

[bstoffParticipant 4865]

Don’t fall for a scam. There are some guys here in MGTOW that seem to be very knowledgeable about investing. Don’t drop all of your money into some crap ad you saw on TV. If their program was really successful, they would not need your money to do it. Ask someone you trust to help you invest. Just my two cents.

[Anonymous 42]

The housing crash is still running strong from Vermont to Michigan, we’ll never see the bubble, we get the CRASH CRASH SMASH.

I plan I burning my place in Vermont that had a project value of $650,000 It’s been on the market for 3 years as the exorbanent taxes tallied against it go unpaid as you would any bad investment, I’m gonna enjoy watching it BURN!

Owned outright and this is the fate of housing. The fall has already begun and holding out napkins as some sort of parachute is pointless. LTMFB!

They can educate their children on safe sex, homosexual sex, and the proper fitting of a condom using the ashes I leave behind as payment to the public sector union!

They’re united and so am I!

[Anonymous 6]

If you want rent, look into apartment buildings. That’s what I have been researching. Thanks to Obama, people on Section 8 can use their vouchers to live in any apartment they want to, not just Section 8 housing. Get a place that caters to that demographic, thats guaranteed government money. Make your money from that place, get another building. Rinse, repeat. Save your money, re-invest it wisely. I’m telling you man, there is money to be made in this world.

The only reason I wouldn’t do house flipping is because it’s not guaranteed that you are going to sell. Apartment complexes sell out fairly quickly. If you don’t sell the house fast, you would be stuck paying the utilities of that place, plus your own personal living expenses.

[Anonymous 14]

Pretty sad that rampant unchecked printing and lending of FIAT money has made working hard and trying to have a place of your own without being robbed blind by those who lent you something they didn’t even have in the first place and then profited from due to your labor akin to finding your way through a mine field.

A system of enslavement is all it is. The Elites own you all by driving up house prices with easy to borrow money, money they get for free from the Fed, money which is created out of thin air and in doing so every day that passes your dollar is worth less because of the inflation caused… The more they lend, the more they make. Keep up hamsters, run faster in that Banker’s wheel of yours or the whole thing will fall apart!

[BeerParticipant 11832]

@op – Before you put a dime or any effort into real estate, I think the first thing you should do is some research, then come back and explain to everyone in this thread what a second deed trust is and what exactly this guy did to turn 0-30k into a 2.3 million dollar profit.

I can assure you…the guy didn’t just sign a few papers and make a few deals and turn basically nothing into millions. No doubt the guy made some money in real estate but there was a lot that went on from to get him from point x to point y, and generally rags to riches stories where people make fortunes quickly in real estate or the stock market involve some majorly lucky breaks that simply can’t be replicated with any sort of consistency.

Anonymous wrote:

If you want rent, look into apartment buildings.

I was looking into this for a while, but decided I just didn’t want to deal with the bulls~~~ of land lording. There were some buildings around here for sale, and if you divided out the price per unit if you bought the whole building its pretty cheap per unit…like the equivalent of 40k per 1 bedroom apartment.(cheap for my area anyhow) If you owned a string of 12-20 units at 40k a pop that could make 900 bucks a month in rent you could turn over a nice profit even if a couple units were empty at all times due to turnover.

The only real barrier for most people to get into this is rental properties generally have stricter lending requirements. You’d have to come up with 20% down minimum, plus they’d probably want to see you have some experience in rentals and/or existing income to back the mortgage payment. You can’t just walk into a bank and say yo, let me borrow 800k with 0% down, I’d like to buy that string of apartments, and I have no assets or income to prove I can pay you right now but I’ll pay you when I’m making rental income.

[FunInTheSunParticipant 8283]

If you’ve got investors lined up, I think it’s a great idea to flip properties. Just be wary of the home improvement costs, the neighborhood (such as: high-crime neighborhoods), and the market value of similar houses in the area.

"I saw that there comes a point, in the defeat of any man of virtue, when his own consent is needed for evil to win-and that no manner of injury done to him by others can succeed if he chooses to withhold his consent. I saw that I could put an end to your outrages by pronouncing a single word in my mind. I pronounced it. The word was ‘No.’" (Atlas Shrugged)

[Author]

Posts