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Answers (17)
- Dan, "the_country_hick"
- Contributions:4699
Before investing in real estate look at other possibilities. You may find much better and safer investments that would pay much better.
Never place all of your eggs in one basket. That means diversify your investments. It you put all of your money ion any one asset class you are not as well protected as when you put your money into many different kinds of assets. That way you do not risk everything on one bad investment class. That is true if your invest in gold, oil, real estate, or buggy whips.
Never place all of your eggs in one basket. That means diversify your investments. It you put all of your money ion any one asset class you are not as well protected as when you put your money into many different kinds of assets. That way you do not risk everything on one bad investment class. That is true if your invest in gold, oil, real estate, or buggy whips.
- Philip Chang, "pchang1227"
- Contributions:31
Trustee sales.
- BuyersHouseRealty
- Contributions:19
Dimmy,
Hello. Congrats on almost being done with your classes. I am a real estate instructor at the Austin Institute of Realty, so I know the demands of getting your license and enduring through the 30 hour courses. LOL...
Well, as far as investing and where you should start, I recommend coming up with an exit strategy first! Investing is a lot like opening a business. You should put together a plan similiar to a business plan. What types of properties should you select? Rentals? Flips? What price point? Do you want to build on lots, or renovate? Again, whichever way you decide to go, you need an exit strategy for sure. As you do not want to invest and have no way of getting out, if you find a better place to invest.
I have worked with many real estate invesstors, and as a broker/ owner of a real estate company, I can both teach and give you great advice o[contact info removed by moderator] , and learn how I can definitely help you learn more about real estate and even hold your license while you learn.
Keep in mind my company is different than others and we provide a large incentive for buyers to use our services. As an investor it is important to be able to save in all places, even when you use a buyers agent. Good luck
Gavin St.Louis
Broker/Owner
Buy75
Hello. Congrats on almost being done with your classes. I am a real estate instructor at the Austin Institute of Realty, so I know the demands of getting your license and enduring through the 30 hour courses. LOL...
Well, as far as investing and where you should start, I recommend coming up with an exit strategy first! Investing is a lot like opening a business. You should put together a plan similiar to a business plan. What types of properties should you select? Rentals? Flips? What price point? Do you want to build on lots, or renovate? Again, whichever way you decide to go, you need an exit strategy for sure. As you do not want to invest and have no way of getting out, if you find a better place to invest.
I have worked with many real estate invesstors, and as a broker/ owner of a real estate company, I can both teach and give you great advice o[contact info removed by moderator] , and learn how I can definitely help you learn more about real estate and even hold your license while you learn.
Keep in mind my company is different than others and we provide a large incentive for buyers to use our services. As an investor it is important to be able to save in all places, even when you use a buyers agent. Good luck
Gavin St.Louis
Broker/Owner
Buy75
- Wayne Smith, "wayne.smith"
- Contributions:56
Dimmy,
All of the advice below is paramount. And, getting your license will definitely help you understand the buying and selling processes. However, it will not teach you anything about investing. As a relatively young(29 yrs old) Realtor and investor myself, I found that seeking advice from seasoned veterans has been most beneficial. Look around your community and see who is still doing well after the housing bubble burst. Whether you want to be a property manager or developer of sorts, seek those people out and ask them for advice. This may be easier said than done, yet your local Chamber of Commerce would be a great place to start. Furthermore, I have found a simple $30 lunch appointment could be worth it's weight in gold. If you are serious and meet the right person/people, you may even find them asking you to partner on an investment (as not everyone has enough available funds to do w/ what they want). That said, tread carefully and best of luck!
-Wayne
All of the advice below is paramount. And, getting your license will definitely help you understand the buying and selling processes. However, it will not teach you anything about investing. As a relatively young(29 yrs old) Realtor and investor myself, I found that seeking advice from seasoned veterans has been most beneficial. Look around your community and see who is still doing well after the housing bubble burst. Whether you want to be a property manager or developer of sorts, seek those people out and ask them for advice. This may be easier said than done, yet your local Chamber of Commerce would be a great place to start. Furthermore, I have found a simple $30 lunch appointment could be worth it's weight in gold. If you are serious and meet the right person/people, you may even find them asking you to partner on an investment (as not everyone has enough available funds to do w/ what they want). That said, tread carefully and best of luck!
-Wayne
- Jack, "Dimmy"
- Contributions:17
I want to thank you all for your advice. I will go over everything carefully before deciding on what to do.
Currently, my plans are to finish up my real estate class, so I have a better understanding.
Currently, my plans are to finish up my real estate class, so I have a better understanding.
- hpvanc
- Contributions:2579
If you are asking it here. You either have had a windfall, or it is hypothetical.
If it is a windfall choose your advisers very carefully. There are stats floating around out there, that 80% of lottery winners go bankrupt within 10 years. Regardless of where you are getting the sudden wealth, and to the accuracy of the statistic, many people who come into a sudden windfall are preyed upon by the people they choose to advise them. I'm guessing if you really did make a sudden windfall your phone is ringing and people are knocking on your door. You should probably add all of those soliciting you to your do not use list.
If it is a windfall choose your advisers very carefully. There are stats floating around out there, that 80% of lottery winners go bankrupt within 10 years. Regardless of where you are getting the sudden wealth, and to the accuracy of the statistic, many people who come into a sudden windfall are preyed upon by the people they choose to advise them. I'm guessing if you really did make a sudden windfall your phone is ringing and people are knocking on your door. You should probably add all of those soliciting you to your do not use list.
- Pasadenan
- Contributions:21458
My opinion too Rudi!
It is obviously an Alias and a Shill for someone to advertise services they are not legally qualified to provide, which is why it doesn't even warrant an answer.
It is obviously an Alias and a Shill for someone to advertise services they are not legally qualified to provide, which is why it doesn't even warrant an answer.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
If you are in this financial position, I find it very suspicious that you would be requesting this information on Zillow. Most folks of means, have their own resources for advice on financial matters.
Happy funding, Rudi
Happy funding, Rudi
- Bryan Cady, "bcady"
- Contributions:124
Hi Dimmy. My esteemed colleagues have given you great advice so far. I'd only add that once you have defined your investment objectives, it is important that your local team has access to properties that may never hit the MLS or other online channels, the primary resource for most Realtors. Austin is one of the hottest markets in the country, so there is an abundance of investors ranging from individuals to institutional investors looking for deals..it is key that you have access to opportunities not on the open market. At your convenience I'd be more than happy to give you an overview of downtown Austin and its urban core, my primary focus. Regards, Bryan
- Darrell Self, "Darrell Self"
- Contributions:349
You definitely want to get legal and tax advice before plunging in to the real estate investment side of things. You need to decide if it is cash flow or growth that you are wanting or a combination. Then you need to find agents in the area or areas that are the most attractive to you. Texas as you know is generating lots of relocations here. Many of those are moving there first leasing before buying, at least in the Dallas area. I am sure the same holds true in Austin where you are. Talk to a great agent in your area after you have your legal and tax side of your investment plan set up.
- Scott Butcher, "Central TX Expert"
- Contributions:109
Dimmy,
First off, you can talk to whoever you want! It depends on if you want to be an active or passive investor in real estate.
If you goal is to be active, then you have to ask your self alot of question and organize your team. What organizational structure do you want (S-Corp, C-Corp, LLC, LP, etc.). How will you hold title to your properties, will they all be single asset LLC's, etc. Who will manage them? Do you want to manage yourself and hire staff or farm it out to 3rd parties? Do you have a real estate license, should you get one? How will you go about buying properties? What are your investment return thresholds? Are you a cap rate buyer or IRR buyer? What constitutes a 'good' versus 'bad' investment?
Additionally, do you want to look at commercial or residential property? Homes, Apartments, Office, Retail, Industrial, Hotel or other speciality properties, maybe land or land development?
It all depends on what type of investor and risk tolerance your open to having: Do you want cash flow OR do you want less cash flow and more risk with development or turnaround opportunities?
As someone who has bought/developed over $200 million of commercial real estate on behalf of others over the past 14 years (my previous life), these are just some basic answers you need to figure out before moving forward.
Definately put a 'team' in place to assist you with your goals and remember there are no stupid questions (legal, accounting, insurance, lender, broker, engineering (if need be), etc.).
Make sure you understand what your getting into. You could turn your capital into something much greater or lose it depending on your strategy, managment and execution.
Good luck!
First off, you can talk to whoever you want! It depends on if you want to be an active or passive investor in real estate.
If you goal is to be active, then you have to ask your self alot of question and organize your team. What organizational structure do you want (S-Corp, C-Corp, LLC, LP, etc.). How will you hold title to your properties, will they all be single asset LLC's, etc. Who will manage them? Do you want to manage yourself and hire staff or farm it out to 3rd parties? Do you have a real estate license, should you get one? How will you go about buying properties? What are your investment return thresholds? Are you a cap rate buyer or IRR buyer? What constitutes a 'good' versus 'bad' investment?
Additionally, do you want to look at commercial or residential property? Homes, Apartments, Office, Retail, Industrial, Hotel or other speciality properties, maybe land or land development?
It all depends on what type of investor and risk tolerance your open to having: Do you want cash flow OR do you want less cash flow and more risk with development or turnaround opportunities?
As someone who has bought/developed over $200 million of commercial real estate on behalf of others over the past 14 years (my previous life), these are just some basic answers you need to figure out before moving forward.
Definately put a 'team' in place to assist you with your goals and remember there are no stupid questions (legal, accounting, insurance, lender, broker, engineering (if need be), etc.).
Make sure you understand what your getting into. You could turn your capital into something much greater or lose it depending on your strategy, managment and execution.
Good luck!
- Real Estate Investments, "Marco Santarelli"
- Contributions:264
Hi Dimmy,
First, make sure you have a team of competent professionals: tax adviser, legal counsel, investment real estate brokers or specialty firm.
When it comes to specific advice on WHAT to invest in, and more importantly WHERE to invest, be sure you get your advice from those that understand real estate investing (ideally those that actively invest themselves), and those that know and understand the best markets around the U.S. that will provide you the highest returns on your capital. (Remember that real estate is a "local" investment.)
Feel free to contact one of our Investment Counselors for some free advice and direction.
Thank you,
Marco Santarelli
First, make sure you have a team of competent professionals: tax adviser, legal counsel, investment real estate brokers or specialty firm.
When it comes to specific advice on WHAT to invest in, and more importantly WHERE to invest, be sure you get your advice from those that understand real estate investing (ideally those that actively invest themselves), and those that know and understand the best markets around the U.S. that will provide you the highest returns on your capital. (Remember that real estate is a "local" investment.)
Feel free to contact one of our Investment Counselors for some free advice and direction.
Thank you,
Marco Santarelli
- Benjamin Carrison, "Benny Vegas"
- Contributions:2
I would love to help you with this in the Las Vegas area. What you are looking for is a high ROI (return on Investment). This is calculated by a few numbers including the rental amount and the sales price. A very high ROI is 15%. This means you double your money every 6-7 years. I can show you many examples of this and even higher ROI. (702) 325-4820
- Dan, "the_country_hick"
- Contributions:4699
I do not know your area. I want you to be aware of what has happened nationally. Prices went to high and they are still falling.
You want to talk to an investor who has bought houses and rented them out. You need to learn about cap rates and a lot more. Most real estate agents simply want to make a sale. Until you learn about the problems with investing including maintenance and management costs do nothing. Learn about the vacancy rate in your area. If it is very high you might not be able to rent out.
This shows what happened and is likely to happen.
Do you know what the housing bubble really looks like? ... - Zillow Real Estate Advice
Peter Schiff: Here's Why Home Prices Have To Decline At Least 20% And Probably More
The Fallacy of a Pain-Free Path to a Healthy Housing Market - Economic Letter, December 2010 - FRB Dallas
Healdsburg Housing Bubble: Reset Chart from Credit Suisse has a Major Error
How Interest Rates Affect Property Values
An Awful 2011 Could Crush The Middle Class Dream Of Home Ownership
The Story Of 2011 Will Be The Second US Housing Crash
The site below predicts what will happen to house prices. It could be right or wrong. Take a look.
Texas
You want to talk to an investor who has bought houses and rented them out. You need to learn about cap rates and a lot more. Most real estate agents simply want to make a sale. Until you learn about the problems with investing including maintenance and management costs do nothing. Learn about the vacancy rate in your area. If it is very high you might not be able to rent out.
This shows what happened and is likely to happen.
Do you know what the housing bubble really looks like? ... - Zillow Real Estate Advice
Peter Schiff: Here's Why Home Prices Have To Decline At Least 20% And Probably More
The Fallacy of a Pain-Free Path to a Healthy Housing Market - Economic Letter, December 2010 - FRB Dallas
Healdsburg Housing Bubble: Reset Chart from Credit Suisse has a Major Error
How Interest Rates Affect Property Values
An Awful 2011 Could Crush The Middle Class Dream Of Home Ownership
The Story Of 2011 Will Be The Second US Housing Crash
The site below predicts what will happen to house prices. It could be right or wrong. Take a look.
Texas
- Guy Gimenez, "Broker and Investor"
- Contributions:58
I would say your first step is to consult with your tax professional and legal counsel. A portfolio of that magnitude would require proper entity structuring (Series LLC's, etc.) as well as proper tax consulting. Once that is taken care of you will need to determine your investment goals, which in turn will help you determine property types you should seek. Depending on the amount of your initial investment, you would likely want to deal directly with REO servicers or even the banks themselves since real deals are made when dealing directly with decision makers.
A word of caution. Do your homework. Austin is full of investment properties that ended up in foreclosure because out of state investors were far too trusting of their chosen realtor, and hence many of those investors lost a ton of money. It never ceases to amaze me how many agents talk about what constitutes a good investment when they've never personally invested in real estate themselves.
- Jen Butel, "Jen Butel"
- Contributions:9
Hi Dimmy, Have you decided on residential or commercial? I am an agent and investor myself. I'd be happy to explore the many opportunities available in the Austin market with you. Feel free to contact me with any questions. Although new construction sales are somewhat depressed, renovated properties can be quite profitable. Right now is a great time to explore a rental portfolio as well. Opportunities abound! Best Wishes, Jen
- John Crowe, "CroweHomes"
- Contributions:118
Hi, Dimmy.
With that size investment, you will have your choice of help. Have you determined what an ideal portfolio looks like? Single family, duplexes and multi-family, apartment complexes? You can also invest in REITs, where property is owned though it's more akin to shares of stock.
Feel free to fire off some questions, or give a call. My advice requires only your time, and I'm always happy to talk to people interested in real estate.
Best, John
With that size investment, you will have your choice of help. Have you determined what an ideal portfolio looks like? Single family, duplexes and multi-family, apartment complexes? You can also invest in REITs, where property is owned though it's more akin to shares of stock.
Feel free to fire off some questions, or give a call. My advice requires only your time, and I'm always happy to talk to people interested in real estate.
Best, John
If I wanted to invest $20million on real estate, who do I go to for advice?
I would like for someone to help me evaluate some properties to investment. Maybe even manage.
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