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 Silversoul
Rhizome
 
Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
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 Re: Real Estate.Is there anything illegal about this?  [Re: buckwheat]
#4455760 - 07/26/05 01:34 PM (18 years, 8 months ago) |
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I made a big thread about this subject in PAL. If you've got time, you can read it here.
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SkorpivoMusterion
Livin in theTwilight Zone...
Registered: 01/30/03
Posts: 9,954
Loc: You can't spell fungus wi...
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Re: Real Estate.Is there anything illegal about this? [Re: buckwheat]
#4455789 - 07/26/05 01:41 PM (18 years, 8 months ago) |
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Unless you're going to be a real estate agent [as opposed to an investor], with a phone glued to your ear 24-7, I wouldn't worry so much about social skills; providing that you have a good sense of common courtesy, respect and manners.
More importantly, engaging in such work would only help you build your social acumen... as long as you go through with it.
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Coffee should be black as hell, strong as death, and sweet as love.
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 DoctorJ
Registered: 06/30/03
Posts: 8,846
Loc: space
Last seen: 1 year, 5 months
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Re: Real Estate.Is there anything illegal about this? [Re: buckwheat]
#4455811 - 07/26/05 01:47 PM (18 years, 8 months ago) |
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I've been seriously considering putting some of the money I have 'accquired' over the years into a real estate investment scheme just like the ones which have been described here. Seems like a good way to legitimize my income.
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Liz
Owl Lady
Registered: 11/16/04
Posts: 6,962
Loc: Massachusetts
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Re: Real Estate.Is there anything illegal about this? [Re: GabbaDj]
#4455943 - 07/26/05 02:27 PM (18 years, 8 months ago) |
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You don't need a real estate license, people do this every day.
You don't even need money down, many places provide financing up to 100% of the homes value.
I've been in the mortgage business for 5 years, and I underwrite files for people everyday who do this. The only way finance companies deter you from doing this is charging prepayment penalties. But, most places will give you a higher rate, in exchange for not having to pay a prepayment penalty.
My opinion is, but as many multi families as you can, and research the neighborhoods first, to watch the trend of property values. And try to buy property with tenants in it already. Then there's no worrying about who you'll rent to.
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Remember, remember the fifth of November
The gunpowder treason and plot.
I see no reason why gunpowder treason
Should ever be forgot.
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BetaDelta
Stranger
Registered: 07/05/05
Posts: 656
Last seen: 9 years, 11 months
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Re: Real Estate.Is there anything illegal about this? [Re: Liz]
#4455950 - 07/26/05 02:31 PM (18 years, 8 months ago) |
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When ti comes to investing, theirs no market like real estate. The returns as a whole out way all paper investments. It's just important to know what you're doing and like everything else research it first.
Take care
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Cytokine
Expand Your Mind
Registered: 06/09/05
Posts: 50
Loc: Akron, Ohio
Last seen: 17 years, 7 months
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Re: Real Estate.Is there anything illegal about this? [Re: BetaDelta]
#4456003 - 07/26/05 02:45 PM (18 years, 8 months ago) |
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Find your local foreclosure auctions and go to them....However, don't buy from them unless it is a real good deal....wait and watch what properties don't sell and make a note of the bank that got stuck with the property. Then, watch your local paper for the bank to put the properties up for sale. If it doesn't sell right away you will probably be able to get it cheaper than the foreclosure price...typically a LOT lower. Thats where you make your money.
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muse_sick
ĤŌĿŶĞЋ0$Ŧ
Registered: 12/15/03
Posts: 9,399
Loc: Giu La Testa
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Re: Real Estate.Is there anything illegal about this? [Re: buckwheat]
#4456257 - 07/26/05 03:55 PM (18 years, 8 months ago) |
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yes this is one of the best ways to help yrself get started in life
i have a friend who is about 28 (maybe 29)
who has plenty of money all b/c when he got out of the army, he did this exact same thing
now he lives in a nice house, drives a maserati, buys pounds at a time, and lives off his savings while he pursues his masters degree.
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buckwheat
Cynically Insane
Registered: 12/09/02
Posts: 11,179
Loc: Not Enough Characters to ...
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Re: Real Estate.Is there anything illegal about this? [Re: muse_sick]
#4456324 - 07/26/05 04:09 PM (18 years, 8 months ago) |
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Ooo Maserati great minds think alike the Gran Sport is the most beautiful car ever. 
That is exactly what i want to do make money live of it and study for something else.
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onetime
onetime
Registered: 11/13/03
Posts: 3,609
Last seen: 13 years, 4 months
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Re: Real Estate.Is there anything illegal about this? [Re: buckwheat]
#4456354 - 07/26/05 04:15 PM (18 years, 8 months ago) |
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there is lots of people who do this research "real estate investments" if you have good credit you can even get a loan and rent it out and have it so that the renter pays your morgage and when the value goes up you can sell it and make bank with out spending a dime there is a guy on tv that wort a book about it has a infomerical and sells you plans on how to get this shit set up
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See?
Yes, with my own three eyes.
Depression, Misspells , wanting everying thing i cant have haveing nothing i want
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HELLA_TIGHT
Madge the Smoking Vag
Registered: 08/19/03
Posts: 84,387
Loc: Afghanistan 
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Re: Real Estate.Is there anything illegal about this? [Re: buckwheat]
#4456406 - 07/26/05 04:25 PM (18 years, 8 months ago) |
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No, it's quite legal. That's what my parents have been doing. They bought a fourplex about 15 years ago for 150k, and now it's worth over 500k. Then they mortgaged that bought another house. You don't make much money if you sell it right away though, you have to wait for propery value to go up. In about 20 years the 4plex will be worth around a million, and I get to inherit it!
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buckwheat
Cynically Insane
Registered: 12/09/02
Posts: 11,179
Loc: Not Enough Characters to ...
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Re: Real Estate.Is there anything illegal about this? [Re: HELLA_TIGHT]
#4456436 - 07/26/05 04:33 PM (18 years, 8 months ago) |
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yeah my parents are doing it too with a townhouse its only six months old and they could make 30 or 50k already (im not to sure of the exact figure) if they sold it now.But i wasnt sure if it was legal on a mass scale since it seems so easy!!
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HELLA_TIGHT
Madge the Smoking Vag
Registered: 08/19/03
Posts: 84,387
Loc: Afghanistan
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Re: Real Estate.Is there anything illegal about this? [Re: buckwheat]
#4456452 - 07/26/05 04:38 PM (18 years, 8 months ago) |
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That's how Donald Trump made all his money.
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spiny
Stranger
Registered: 11/15/12
Posts: 160
Last seen: 8 months, 5 days
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Re: Real Estate.Is there anything illegal about this? [Re: buckwheat]
#19017160 - 10/23/13 12:12 AM (10 years, 5 months ago) |
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Nice thread resurrection. Interesting to see what people were thinking about in terms of real estate in 2005. Bet they would've liked to know how THAT turned out...
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