Money

Do you invest in rental properties and is it working for you?

Walmart.com ToKL28
Jan 10

Tell what's your experience.

comments

Add a comment
  • Microsoft / EngPickbot
    To all the “yes and yes” folks - How did you get started? Where did you do your research? Are the properties in same city as you live or an other one? Any pitfalls that we need to be cautious of?
    Thanks.
    Jan 112
    • New DuQvV7x
      I started small 20 years ago. The research wasn’t as readily available online as it is today. I primarily buy in the city I live in and the city I grew up in (have family there).

      Certainly there are pitfalls. Tons of it. Have cash on hand. Build relationships with bankers. Do your research. Then do it again. Then do it a 3rd time. Beware of AXP they’re shit people (this may just be my personal beef). trusno1 (not entirely kidding but don’t take peoples research at face value). You are the champion of your own interests. If you don’t advocate strongly for your positions the world will take that as license to crap all over you.

      Create a 2, 5 & 10 year plan with measureable milestones (so you can judge your progress). Patience is a virtue (don’t grow faster than your liquidity can absorb). Find an insurer. Be their friends. You will make them a lot of money (they will be there for you on the shittiest days). Same thing with a realtor.

      Learn to do shit yourself. It will help you to negotiate when you understand the work being done. It will also save on small maintenance costs.

      All that and sunscreen. Always wear sunscreen...
      Jan 11
    • Google RockLobsta
      Love the Baz Luhrmann reference. Also, all of this is good advice. I'd add find an agent who is also an investor. They know what to look for more than most agents. If you don't know any ask around, I found mine thru Biggerpockets.com. Also, a *lot* of people are going to try to sell you things. Courses, "systems", mentorship, etc. If those people were that good investors they wouldn't need your money. Avoid them.
      Jan 12
  • Facebook public2
    Yes and yes. Search blind this has been discussed a lot.
    Jan 105
    • Intel shoteno
      Ive seen you for a while on real estate topic threads. You seem to know alot. So here goes the question. Whats your prospect on Seattle RE in 2019?
      Jan 10
    • Facebook public2
      I don't pretend to be able to time the market; I'm bullish on seattle long term and buy whenever I find a good off market cash positive deal. I've bought at peaks and I've gotten lucky and bought at valleys.
      Jan 10
    • Intel shoteno
      Teach me sensei :)
      Jan 10
    • RackWare Dreamlight
      @ Facebook. Are you on a visa?
      Jan 11
    • Facebook public2
      No US Visa, in have a Visa for other countries though.
      Jan 11
  • New DuQvV7x
    Yes and yes. Done properly, it’s a path to FI and then RE.
    Jan 110
  • ServiceNow iPogba00
    Don't buy in areas with high property taxes, HOAs, MUD etc. Pay < 10% per month to property management company. High credit scores, high income != Responsible renters
    Jan 100
  • Amazon Fetch
    Yes and yes. Invest in places you are familiar with if you are just starting. Learn how to research an area to see if it’s a good investment.
    Jan 100
  • Microsoft / EngTc292k
    Yes and yes. Up to 5 properties now including a multi family unit.
    Jan 103
    • Facebook djdkslwhx
      What’s your TC on that alone?
      Jan 11
    • New DuQvV7x
      TC would not be the right term here.
      Jan 11
    • Microsoft / EngTc292k
      Close to 6k profit per month combined across all properties. I'm not cash flow positive on one yet and I use a management company.
      Jan 14
  • Microsoft tingtang
    Yes and yes. It’s a great “retirement” strategy.
    Jan 100
  • eBay xjzs58
    Real estate has made me way more money than stock ever will
    Jan 100
  • Google RockLobsta
    Yes and yes. Except for one dumpster fire property I’m selling soon. I’ll still profit from the appreciation though.
    Jan 100

Download the app for more exclusive content.