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OfflinekronnyQ
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Registered: 07/23/04
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Anybody into real estate....
    #4633173 - 09/08/05 10:06 AM (11 years, 3 months ago)

I plan to get heavily into real estate cuz thats the only place the real money is left these days. Gotta start out small though cuz I ain't got crap for cash yet.

I found 2 cemetary plots for $1000 apiece, is this a decent price? I was thinking of offering $1500 for the both. Cemetary is located in a suburb about 10 miles outside of the city. Anyone have any comments?


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InvisibleSkorpivoMusterion
Livin in theTwilight Zone...
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Re: Anybody into real estate.... [Re: kronnyQ]
    #4633264 - 09/08/05 11:00 AM (11 years, 3 months ago)

Cemetary plots, eh? Never really thought about that. Interesting.

I've invested in some land down in El Paso, Texas. Ranch-style land, unzoned and such.  I'm thinking about investing with the Alpine U.S. Real Estate Equity Fund [minimum 1k investment] as an aside. I read about them on Kiplinger's financial magazine. Over the past five years to June 1, the no-load fund returned an annualized 34%. That's an amazing 36 percentage points per year better than the results of Standard & Poor's 500-stock index, and it made Alpine the best-performing stock fund of any sort over that period. It is also the number-one real estate fund over the past ten years.

http://www.alpinefunds.com/

As for recommendations and advice on knowledge to absorb, I'll provide the same recommendations as I have for a long time now:

One solid, clear, and precise "nuts and bolts" book I heartily recommend is:
The 36 Hour Real Estate Investing Course by Jack Cummings

Real Estate Riches by Dr. Dolf DeRoos is a very compelling book with all the intricacies of real estate exposed, that make you jump off your seat and go: "Wow! Why didn't I get into this earlier?!"

And last, but not least:
Real Estate Loopholes by Diane Kennedy and Gary Sutton. Name says it all.


"You can't beat real estate." -Donald Trump

"Buy land. God isn't making any more." -Oprah Winfrey


I just had an :idea:

Wouldn't it be really neat for the Shroomery to have it's own little real estate consortium, where all of us REInvestors could funnel cashflow into investment projects, i.e. warehouses, certain office buildings, vacation resorts, etc. and share the profits - just like any other consortium, basically... It wouldn't happen unless there were a strong number of us though.
But cool idea, nonetheless. A "Shroomery-community owned" property. Imagine that.



--------------------
Coffee should be black as hell, strong as death, and sweet as love.


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InvisibleOneMoreRobot3021
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Registered: 06/06/03
Posts: 60,932
Loc: the sky
Re: Anybody into real estate.... [Re: kronnyQ]
    #4633387 - 09/08/05 12:13 PM (11 years, 3 months ago)

Watch out. Real Estate agents lose their souls quickly and turn into bitter conniving wretches.


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Acid doesn't give you truths; it builds machines that push the envelope of perception. Whatever revelations came to me then have dissolved like skywriting. All I really know is that those few years saddled me with a faith in the redemptive potential of the imagination which, however flat, stale and unprofitable the world seems to me now, I cannot for the life of me shake.

-Erik Davis


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Invisiblebadchad
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Registered: 03/02/05
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Re: Anybody into real estate.... [Re: OneMoreRobot3021]
    #4633452 - 09/08/05 12:30 PM (11 years, 3 months ago)

I don't want to sound pompous but I'd save up a little more money before you began investing.

As someone above illustrated, even if you hit it BIG TIME, an awesome return would be 34% annually. Thats $340 per year and an ideal return. I don't have an idea about what an "average" return on a real estate investment is but I would assume it's less than 34%.

Just something to consider if you want to "get rich quick"


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...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


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InvisibleSkorpivoMusterion
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Re: Anybody into real estate.... [Re: badchad]
    #4633506 - 09/08/05 12:49 PM (11 years, 3 months ago)

As someone above illustrated, even if you hit it BIG TIME, an awesome return would be 34% annually. Thats $340 per year and an ideal return.

34% per annum is a very nice return in ANY investment.. But that kind of return is more common for seasoned REinvestors compared to say, stock market investors. If you invested 1k starting TODAY, and got a solid 34% return every year, you would have a million dollars by the year 2022.
The nice-yet-average returns in real estate usually range 13% to 16%, more or less. So let's say you have a 14% per annum return on a 1k investment. You would then have a million by 2040, and that happens to be near retirement time of alot of folks in the future - including many of us.




--------------------
Coffee should be black as hell, strong as death, and sweet as love.


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Invisiblebadchad
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Re: Anybody into real estate.... [Re: SkorpivoMusterion]
    #4638686 - 09/09/05 06:08 PM (11 years, 2 months ago)

Okay, you'll def. have to check my math (I used an investment calculator off a different website).

In any event, if you invested $1,000 and got a return of 34% for 16 years (I rounded to 2006 for simplicity). You'd have a total of $108,603. Averages to about 6K per year.

Also, keep in mind that 34% is a very large return. To sustain it for 16 years is probably not realistic. I'm just throwing percentages at you however, so I cannot comment on the reality of the real estate market. Again, if we used the second example of a 15% return on $1000, by 2040, you'd have $115,805 (about $3400/year).

But again, it's a gamble. I know people whose houses in Florida have doubled in value over a 5-10 year period (although this will prob. end very soon as all the baby boomers retire).

All in all, my worthless opinion is to wait till you have more capital. Just My $0.02 cents though.


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


Edited by badchad (09/09/05 06:12 PM)


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Offlinedaimyo
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Registered: 05/13/04
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Re: Anybody into real estate.... [Re: kronnyQ]
    #4638701 - 09/09/05 06:14 PM (11 years, 2 months ago)

I always thought you weren't allowed to make money off the sale of a plot.


--------------------
"I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man."


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InvisibleSkorpivoMusterion
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Re: Anybody into real estate.... [Re: badchad]
    #4638703 - 09/09/05 06:15 PM (11 years, 2 months ago)

Compound interest... Did you factor that in?



--------------------
Coffee should be black as hell, strong as death, and sweet as love.


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Invisiblebadchad
Mad Scientist

Registered: 03/02/05
Posts: 11,735
Re: Anybody into real estate.... [Re: SkorpivoMusterion]
    #4638714 - 09/09/05 06:18 PM (11 years, 2 months ago)

Quote:

SkorpivoMusterion said:
Compound interest... Did you factor that in?






I think so, basically I said if you made 34% off 1,000 in a year you'd have $1340. Then, after you gained 34% on the $1340, you'd have $1795.....and so on.


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


Edited by badchad (09/09/05 06:18 PM)


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InvisibleSkorpivoMusterion
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Re: Anybody into real estate.... [Re: badchad]
    #4638722 - 09/09/05 06:20 PM (11 years, 2 months ago)

Oh wait.. I just realized... My case assumed that you re-invested 1k per annum. Which is a whopping $3 bucks saved a day. [Actually, less than that] Okay, now crunch the numbers.



--------------------
Coffee should be black as hell, strong as death, and sweet as love.


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Invisiblebadchad
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Registered: 03/02/05
Posts: 11,735
Re: Anybody into real estate.... [Re: SkorpivoMusterion]
    #4638733 - 09/09/05 06:24 PM (11 years, 2 months ago)

Okay, $1000 at 15%.  Re-Investing an ADDITIONAL $1000 per year for a period of 34 years equals out to:  $881,170

Which is a much better return :smile:

Here's the calculator I've been using: http://www.ici.org/cgi-bin/calcs/SAV14.cgi/investment_company_institute


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


Edited by badchad (09/09/05 06:25 PM)


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InvisibleSkorpivoMusterion
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Re: Anybody into real estate.... [Re: badchad]
    #4638740 - 09/09/05 06:25 PM (11 years, 2 months ago)

:thumbup:



--------------------
Coffee should be black as hell, strong as death, and sweet as love.


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InvisibleGalvie_Flu
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Re: Anybody into real estate.... [Re: kronnyQ]
    #4639481 - 09/09/05 09:57 PM (11 years, 2 months ago)

:nonono:

the dead will eat you alive, oh wait, its the pub.  Go 4 eat!


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