So after careful consideration...

[Fuk_jdm]

I have decided that I am not going to buy a new car. I am going to buy another used car, and I am going to invest in some real estate. I dont want to buy a house, I am interested in a Duplex, or a Triplex within the $150,000 to $210,000 range. I am intersted in starting a collection of them...

So if you know of anyone who is selling, or has seen one, please let me know where so I can check it out. Thanks guys...

[SRT-4U]

Dude you gotta show the bigger pics of your avatars. Its a public service, and damn you to hell if you don't, you should start a thread in the photo gallery for it, lol. O and sorry but dont know of any real estate in that range.

[Fuk_jdm]

Originally posted by SRT-4U@May 26 2006, 06:15 PM
Dude you gotta show the bigger pics of your avatars. Its a public service, and damn you to hell if you don't, you should start a thread in the photo gallery for it, lol. O and sorry but dont know of any real estate in that range.
lol... http://i14.photobucket.com/albums/a349/Erixxxhouse/Smilies/myhijacked2.gif

I cant do that. I am allowed to take pics because of trust. These girls trust me, and when they say that I am not allowed to share the pics... I dont share them. I would hate to lose the privillage of being able to take pictures of my adventures with them. Sorry man... I only post what I am allowed to...


Besides... this is FMR, not DA.

[injendsm]

try picking up one of those mags in blockbuster that have real estate listings. another idea is to find some info on bank repo'd houses since i am sure they go for cheap.

[aero]

Originally posted by injendsm@May 26 2006, 07:29 PM
try picking up one of those mags in blockbuster that have real estate listings. another idea is to find some info on bank repo'd houses since i am sure they go for cheap.
Yeah, they usually go for cheaper, but are usually trashed since people know they are getting reposessed. They will take EVERYTHING that they can and break whatever they feel like since they are already screwed.

I do have a feeling more stuff will drop a bit in price though. Some people bought property relying on it to go up in price. And now they are stuck floating 2+ mortgages. Not to mention, there are more people trying to rent out places than there are that want to rent.

I am looking into a house just because I know that it cant go too much lower in the long run, other than if it gets plowed over by a damn hurricane.

[SRT-4U]

Originally posted by jdmcivic92+May 26 2006, 07:06 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (jdmcivic92 @ May 26 2006, 07:06 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-SRT-4U@May 26 2006, 06:15 PM
Dude you gotta show the bigger pics of your avatars. Its a public service, and damn you to hell if you don't, you should start a thread in the photo gallery for it, lol. O and sorry but dont know of any real estate in that range.
lol... http://i14.photobucket.com/albums/a349/Erixxxhouse/Smilies/myhijacked2.gif

I cant do that. I am allowed to take pics because of trust. These girls trust me, and when they say that I am not allowed to share the pics... I dont share them. I would hate to lose the privillage of being able to take pictures of my adventures with them. Sorry man... I only post what I am allowed to...


Besides... this is FMR, not DA. [/b][/quote]
::owned:: by your conscience. :greg1:

[Fuk_jdm]

Originally posted by aero3685+May 26 2006, 07:51 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (aero3685 @ May 26 2006, 07:51 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-injendsm@May 26 2006, 07:29 PM
try picking up one of those mags in blockbuster that have real estate listings. another idea is to find some info on bank repo'd houses since i am sure they go for cheap.
Yeah, they usually go for cheaper, but are usually trashed since people know they are getting reposessed. They will take EVERYTHING that they can and break whatever they feel like since they are already screwed.

I do have a feeling more stuff will drop a bit in price though. Some people bought property relying on it to go up in price. And now they are stuck floating 2+ mortgages. Not to mention, there are more people trying to rent out places than there are that want to rent.

I am looking into a house just because I know that it cant go too much lower in the long run, other than if it gets plowed over by a damn hurricane. [/b][/quote]
well I already have an appointment with my personal banker to discuss forclosed properties.... We meet Monday. But thanks for looking out guys... let me know if you see anything.

[madbomber1998]

you're gonna have problems finding duplex's and triplex's in that price range. At least ones that you will want to own.

We can't even build one for ourselves for that price, and I am a land developer.

Remember, with rental properties, you don't want to get something to rent out that will have problems, or your expenses (upkeep, fixing problems, etc.) Be care ful what you get in that respect. The only properties you are going to find in that price range (unless you are very lucky) will cause you problems down the road. Be sure to factor in insurance too. Insurance companies are starting to refuse to sell new insurance policies, and the ones they are selling are getting outrageous in cost.

Also, duplexes and such are going to be going up in price as the rest of the housing market bottoms out. Everyone who is having to sell their houses because of mortgages with balloons, etc. over the next year or two, will have to rent somewhere because they will not be able to afford a new house (mortgage rates will skyrocket and insurance is super-expensive now)

But yea, duplexes, triplexes (and don't forget quad-plexes) are a good thing to invest in.

If you can't find anything, get ahold of me. I'll build you something cheaper than you can get about anywhere. We have 3 duplexes about to be finished in Lehigh for a customer right now.

[Fuk_jdm]

Originally posted by madbomber1998@May 27 2006, 11:45 AM
you're gonna have problems finding duplex's and triplex's in that price range. At least ones that you will want to own.

We can't even build one for ourselves for that price, and I am a land developer.

Remember, with rental properties, you don't want to get something to rent out that will have problems, or your expenses (upkeep, fixing problems, etc.) Be care ful what you get in that respect. The only properties you are going to find in that price range (unless you are very lucky) will cause you problems down the road. Be sure to factor in insurance too. Insurance companies are starting to refuse to sell new insurance policies, and the ones they are selling are getting outrageous in cost.

Also, duplexes and such are going to be going up in price as the rest of the housing market bottoms out. Everyone who is having to sell their houses because of mortgages with balloons, etc. over the next year or two, will have to rent somewhere because they will not be able to afford a new house (mortgage rates will skyrocket and insurance is super-expensive now)

But yea, duplexes, triplexes (and don't forget quad-plexes) are a good thing to invest in.

If you can't find anything, get ahold of me. I'll build you something cheaper than you can get about anywhere. We have 3 duplexes about to be finished in Lehigh for a customer right now.
Yea... I was thinking about that... But it all depends on the market. The reason that I am looking into buying is because they already have tenants. So there is not going to be any down time. I was thinking that I can offer some incentives, to keep the good tenants, and make a deal with the bad tenants to move out.

I am not only considering apartments in this area... I am also looking in Tampa, Miami, Ft lauderdale, WPB Etc... I dont really want to live near my property. I kinda want to be a little far from them, but when I buy multiple i want them to be in the same area as each other.

Hmm.. We have already about 4 of them in Bradenton, and 3 in Miami that we are going to look at. We as in, Kori my banker. She's 24, a cutie... but married :greg1:

[madbomber1998]

Buy them where the housing market has recently exploded. The rental market will boom in those places after the housing market bottoms out. Look at the Fort Myers area for instance - alot of the apartment complexes are selling out as condos. Good rental units will be hard to find when the housing market bottoms out. They are dang hard enough to find now.

I doubt you will have problems finding tenants. Even our duplexes that aren't finished are already pre-rented out. But getting bad tenants to move out (without being underhanded and shady) is paramount on impossible. Just consider that.

Good luck finding stuff btw. As in, seriously, I wish you well.

[Fuk_jdm]

Originally posted by madbomber1998@May 27 2006, 04:14 PM
Buy them where the housing market has recently exploded. The rental market will boom in those places after the housing market bottoms out. Look at the Fort Myers area for instance - alot of the apartment complexes are selling out as condos. Good rental units will be hard to find when the housing market bottoms out. They are dang hard enough to find now.

I doubt you will have problems finding tenants. Even our duplexes that aren't finished are already pre-rented out. But getting bad tenants to move out (without being underhanded and shady) is paramount on impossible. Just consider that.

Good luck finding stuff btw. As in, seriously, I wish you well.
Thank you.

I think that buying from a market that is booming is a bit of an issue, because since there is alot of ppl buying, then the prices are rather high. I dont know if I am going to be approved for anything over 210k. I dont have really good credit. I might be able to get a little higher of a loan if I add more money down.. but for now.. this is all I have.

I am still considering alot. from property to an already functioning business.

This is not written in stone, I am just trying to spend this money in a wise manner. So i am trying to do things right the first time.

[ayat108]

1) construction loan
2) good luck buying a duplex for only 150,000. in lehigh, the crappiest 2bdrm home goes for more than that price. i can only imagine what kind of duplex goes for that price.

minimum 250,000 on a duplex. getting the land at under $35k will help. wont find that on main roadways, though.

and aero is right. a bad tenant never moves. they only get evicted. lol.

best wishes.

[madbomber1998]

Get into investing. Real investing, not just buying a house to rent out (which is a good thing to do, don't get me wrong. We have 5 duplexes we own ourselves.)

Lotsa stuff you can do with money that gives you a fast turn around. That's how we make most of our money - doing small investing deals on land and property, building spec houses and duplexes to turn around and sell, etc. That's what we specialize in. We do very few retail sales, simply because I hate dealing with idiot home buyers who always want to change stuff and can't make up their mind, don't understand the buying process. I do more work on each retail customer I do than most deals we make that involve 10 houses going to someone doing it for investing purposes.

Diversify your money a little.

[Fuk_jdm]

Originally posted by madbomber1998@May 31 2006, 12:07 PM
Get into investing. Real investing, not just buying a house to rent out (which is a good thing to do, don't get me wrong. We have 5 duplexes we own ourselves.)

Lotsa stuff you can do with money that gives you a fast turn around. That's how we make most of our money - doing small investing deals on land and property, building spec houses and duplexes to turn around and sell, etc. That's what we specialize in. We do very few retail sales, simply because I hate dealing with idiot home buyers who always want to change stuff and can't make up their mind, don't understand the buying process. I do more work on each retail customer I do than most deals we make that involve 10 houses going to someone doing it for investing purposes.

Diversify your money a little.
hmmmm.... Good train of thought... Looked into currency trading. Tired with euros... made $45 in profit... in 2 days with $30 invested. Not something I think will hold my head up above the water, but incase someone wants to do something to get some extra cash flow... its not a bad idea...

[pjnightss]

i think i saw a for sale sign at some duplexes around my neighborhood. still want the number?

[Fuk_jdm]

Originally posted by pjnightss@Jun 1 2006, 03:46 PM
i think i saw a for sale sign at some duplexes around my neighborhood. still want the number?
yes please!