Question D : How to invest in real estate 000 ?
I live in New York, is the problem: NYC has a lot of competition in real estate. You think it’s better to leave to NYC and invest in real estate in another state? I try to buy houses in foreclosure and facing foreclosure stage, but still there are many competitors Best Answer.
Answer not
Inner Banks
! Investing in real estate requires sufficient capital to purchase, repair, maintenance, pay taxes, expect the repairs and unforeseen market recovery. If you insist on blowing $ 20,000 to give to a charity event. They will at least give you a deduction to be fiscale.Désolé brutal, but be careful> magical thinking !!!!!!!
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I don’t know anything about foreclosures in NYC, but wherever you go you will be competing against people and companies that do this for a living.
And, with only $ 20,000, you most likely cannot purchase foreclosures anyway.
Where I live, and in most places, when you purchase a foreclosure on the courthouse steps, you pay in full for the house you won the bid on as soon as the auction is over.
The only way I am aware of that you can use $ 20,000 is to buy pre-foreclosures. But, even there, you are competing against a lot of others who do this for a living.
$ 20,000 is enough for most down-payments, but there will be alot more costs associated with owning homes, even if you just plan on flipping them. If you are adoment about investing in real estate, look into investing in REITs (real estate investment trusts). They are similar to investing in mutual funds, but you are investing in the likely-hood of property inflation. Best of luck, but invest wisely. Investments can be unpredictable..
Get out of NYC.
Study Buffalo for a few months. Move there and buy a 3 family get a job and join the local real estate investors group. Try to get reliable tenants.
Go for your goals. Get Educated. good luck.
$ 20,000 is not enough to get into real estate. I’d much rather put it in the stock market.
$ 20K is plenty to invest in Real Estate!
At least around here in TEXAS… I mean I’ve got a 12 unit aptmnt for $ 100K that is bringing in $ 3700/mo. Owner pays all expenses. Sure it’s not in the best shape, but with 20% down it cashflows huge! I have flip deals that $ 20K down will be plenty for down & repair. I find deals like these in Austin, San Antonio, Corpus Christi, Dallas & Houston. These guys that are saying otherwise just don’t have any kind of investing experience whatsoever. HOWEVER, I can’t say this is true for NYC or many other places. I just know Texas.
There are going to be competitors in every area pretty much. That’s just part of the game. You just have to find an area you like and start competing.
MUST SEE GOVERNMENT FORECLOSURES!!!!
Don’t miss out on what many people are doing to save up to 80% off your new home. Many listings available in this area! Now is the time to buy!
http://govntforeclosures.blogspot.com/