I want to start renting and buying  houses  to   sell for more money , what the right way to do this?
404192
***********************************************************\nHopefully you currently own your home now. You can use the equity in your current home as a downpayment on a 2nd home. Use the 1st as a rental. This may mean refinancing your 1st home or getting a 2nd mortgage on it.\n\nI suggest you take your first $15 bucks you can spare, go out and buy the book "The Automatic Millionaire Homeowner" by David Bach. This book alone is more than enough to get you started, even if you don't think you can. You can also check out his website at www.finishrich.com/homeowner\n\nAnd by the way, don't let others tell you it can't be done or they know someone who tried, etc. They have good intentions. They are trying to protect you from disappointment (a feeling they've experienced). So thank them for being caring enough with thier warnings. But explain that what you can really use is thier encouragement and support and that any advice they have that might help you in your efforts would be much appreciated.\n\nDon't give up. And congratulations on your thinking big.\n\nHope this helps. Good luck.\n\n***********************************************************
964695
buy things cheap and sell it for way more?
71081
This can be really complicated to answer.  Basically, you need to go where the money is.  Certainly you've made your requests clear to your current investors?  Where are their friends?  Amazing how secretive/greedy people can be when it comes to sharing (good) investment advice.  Call every bank, real estate company, mortgage company, investment group, investment company and talk to the right people.  If the returns are as good as you say, you should be able to drum up enough investors.  On the flip side, maybe the people with "money" are concerned about the housing situation; is your area getting overbuilt?  Amazing too how many contractors get myopic.  Part of succeding in business is being able to "see" changing economies and adjusting as required.  This IS a cyclic business.  If the rates don't stabalize here, people will tend to stay put.  Don't get caught with unsold spec's that you're forced to start "discounting"  I don't know where you are, but in our hot, hot market, the wise old builders are being very careful and building mostly pre sold customs.
32172
look at your budget, cut down unnecessary costs, make sure you are getting the word out there (via internet, word of mouth, sphere of influence, etc.). if necessary, get a part time job to pay the rent first! then once your small business is stable enough, you can start doing it full time. that is what i am doing as a starting up realtor. oh, also, get lots and lots of education on your field -- business & marketing, skills, technology, etc. it never hurts to know more and apply those knowledge to your business!
280852
Check you classifieds section, talk to related business to set something up that can be cross marketed and share some space, get in touch with a Realtor.
1185420
Are you buying a home to live in, and looking for the best appreciation, or buying a home for renting out and future appreciation?\n\nI ask because there are different answers to those 2 scenarios. In both cases, the surest ways to make money on a house is to buy one that needs work, cosmetically (paint, new carpet, lawn cleanup etc), but doesnt have serious (and expensive) structural issues. (New roof...borderline...new sill plates due to termites...no.)  Houses that need repair sell at a discount. Thats because much of the market has no interest in fixing up their new purchase. Also, work you can do yourself is the equivalent of saving the amount you would have paid for labor, in some markets that can be as much as $40 / hour.\nOther keys... only buy a house that has a negative feature that can be fixed. For example, you can cut down dead trees, but you cant move a house that is across the street from a strip joint.\nRemember its Location, location, location in real estate. Finally, an extra bath is worth more than an extra bedroom. 3 bedrooms and 2 baths is much better than 4BR and 1 bath
1165632
Contact a mortgage broker in your area first.  They'll set you up with a loan and preapproval.  Then you'll know what you can afford and then hook up with a realtor.  Don't go to the realtor first.  That's putting the cart before the horse.  If you're in California, I'd be glad to help you.  E-mail me at tom4loans@sbcglobal.net
79643
Im A Broker And Let me just say this.\nBUY BUY BUY  The reason is If you buy then its yours and the Banks When you lease You take Some risk with this venture I have seen people lease houses with the choice to buy and 5 yrs down the line the owner files chapter7 and you lose the house and your money then you try to sue the person who has no money left. Its just better to buy Taxes and everything else it will work in your favor. Dont be scared to Buy. If you buy the right house And keep it up and maybe do some work to it in 5yrs you can move and make money on the house. I know many people who buy a house that needs work They get it for 250grand do work to it and in 5 yrs they get 600thousand for it. its a investment and its a good one. But never buy the first one you see. look and compare. Check the area and The market for that area.\nGoodluck
976830
You should have real estate to buy first.  Start with a fixer-upper and rent that out.  Using the income from that property, you can buy another house to rent out.  It is a very good idea to get into the market while it is @ a remarkable low
305129
Don't listen to idiots who tell you to play with stocks. I don't believe in investing in common shares of anything. Use your money to buy land. \nWith decent credit and $20k liquid cash you are able to control around $200,000+- worth of property.. \n  \n       Buy large parcels of land and parcel it out. \nYou can usually at least double your money that way.\nMake sure you do some research and see that zoning will allow it,\n    If that doesn't work out you could always flip residential property.
1072902
That's how I started.  I ended up working with a friend who was the listing agent for two construction companies.  You're going to have to do one thing better when working with new construction than any other residential type of real estate.  You're going to have to have a sellable system: \n\n-- outline your process\n-- demonstrate why this is better than the order takers at other model homes\n-- setup an incentive system with your listing agreement.  The broker I worked with had bonuses tied to selling and building on certain lots\n\n\nI'd only work with builders who have invested in a model.  You're easiest sell will be to find a model home that isn't manned very often (usually these just have a sign to call the contractor) and demonstrate how you can get people in there more, and make the builder more money than you're costing him.  You're going to want to lean on the fact that the model is costing $x per month, whether it sells one home or ten.  Why not work with a system that will bring you ten?\n\nIf you're looking for a system, try Top Producer.  You can choose others, but that's just one I can remember that seemed to work all right.  (It's just a prospecting system that's computerized).  You'll probably also do very well with Bill Good's "Prospecting Your Way to Sales Success."  A great ground-level guide to prospecting in any business.  With one or two of these under your belt, you'll easily be able to demonstrate the value you can generate.\n\nGood luck, feel free to follow up with Yahoo! Answers' email.
770791
Sell your house and buy a 4 unit property,you will live in one unit and rent the other three out then you will be making money while you are at work or just at home.Passive income is great.
478896
I'm a real estate broker and have found there's no best way. There are many ways and you should use them all. Referrals, farming, canvassing, newspaper FSBO's and Internet free classifieds are the most populars.
862705
You can co-venture with a builder.    The owner contributes the land; the builder the improvements.  On sale you split the proceeds according to whatever formula you agree to.\n\nTravel around your area & look for houses under construction.  Get the name & ph. nos. of local builders who are building out the kind of homes you think are sutable for your properry & call them.
280533
there are multiple answers to your question so I'll give a few examples, some take time, and other's take more money, you can choose what is best for you.\n\n1. one way is to just buy a house to live in and hope it appreciates in value. Over the past 5 years appreciation on real estate has gone through the roof. That trend is slowing down though, so probably isn't the best solution. (However, owning your own home has very nice tax benefits when filing for your tax return, so owning your own home is a very good idea anyway).\n\n2. Rental property. Find a multi-family home, which is generally a regular to oversized house with multiple apartment units in it (about 2 to 4 units). This is an excellent revenue generator, but also comes with some headaches of dealing with tennants. If you don't mind investing in lower income areas, buying a home in a lower income area and accepting section 8 residents (residents using section 8 government help have their rent checks go directly from the government to the landlord), can take a lot of stress out of being a landlord considering you never have to haggle over rent.  The other issue with that is maintaining the property. It helps to be handy to keep maintenance costs low, therefore increasing your profit.\n\nThe other good thing about that is that lower income areas generally tend to go through a revival at some point where the govt looks to renovate an area, by putting a civic use building in the area or just injecting the area with some money (such as a sports stadium or office buildings). When this happens the value of the properties surrounding it go up, which would build equity in your place. \n\n3. Flip a house. Flipping is the biggest risk/reward situation. You never know what you are getting when you buy a house at auction, but then again, you are getting a piece of property that will turn a big profit when you are done if the project is done right. Since you can't get in the property or do a thorough search of the structure, you don't know what lies in the walls and under the floors. You could have some serious damage in the house, which is a nightmare to fix. The biggest prizes are houses that just need cosmetics done such as new floors, bathrooms, kitchens, some nice paint and some landscaping. These can all be done relatively inexpensively (compared to structural work), and can turn a hefty profit.\n\nEach scenario is different and you have to do what works for you. None are easy and they all take patience. The easiest one to do is to buy a multi-family house and live in it for a year while you rent out the other units (a mortgage for a primary residence is the easiest to get and less of a hassle). After a year or so, move out and rent the unit you lived in, and take the money you made/saved in that period of time and put it into another house.
54011
Yes you can. In this instance I would suggest finding someone in your area who buys properties for rental purposes. See if they will talk to you about how they purchase propery. There are a few who constantly buy property with little out of pocket capital. There are also books by Robert Kyosocki, and Cources by Carleton Sheets that do work that can teach you how to do this. \n\nYou can even find small trailer park communities in your area. and purchase them for $1,000 to $6,000 clean them up and resell them at double the price and offer financing with 10% interestes for couples trying to find the first home. you can quickly flip several of these and creat a significent down payment for a home of your choice and just use a bit of "Sweat equity".
72844
That is the auction starting price...  All forclosed homes go to auction, and who knows, you may get lucky.  I bought two houses on forclosure in Los Angeles a few years ago and, miraculously, no one showed up to bid against me.  I got the two properties, which were side by side, in a prime area of Los Angeles, and the upside was about $400,000.\n\nSo step one is to look at home prices in your area and see what a four bedroom/ four bath is going for.  A good place to get a good feel is realtor.com because you can take a look at properties in your area and very easily see what they're going for.  Then look at the property itself, the bank that's selling will be honest so look for things like structural damage and asbestos and factor in the cost of repairs (add it to your purchase price).\n\nNow, when it comes to making a purchasing decision, you need to make an accurate assessment of what you want to be in it for.  If it's a great deal, you could probably buy it, manage it and make money not only when the property goes up in value and by building equity, but also on the month to month cashflow... this is the best way to make money over the long haul (and is how many real estate moguls built the cornerstone of thier billions).  However, managing properties is lots of headaches and requires that you be available 24/7 in case of emergencies.  Now, if managing isn't your thing, if it's a good enough deal, you can always flip it.  Flipping is more risky because you have transactional expenses and there's no guarantee your going to sell, so look at your local market and see if properties are being bought and sold at a steady pace.  The last the you want to do is to hold on to something that's costing you every month, but isn't bringing any money in.  You also don't want to manage the property if manging isn't your thing (of course, you can always turn to a management company, but it'll cost you about 5% of your gross, you'd still pay all the expenses, and you won't be able to manage costs as well, making positive cash flow less likely).\n\nSo look at the numbers and decide what you want.  I'm a buy and hold kind of guy, you might be more inclined to flip.  So, make a million or two.  If you can manage positive cash flow right out the door, closing one a month over the course of a year (even at $20k a pop) will probably make you a millionaire in 5 to 10 years if you leverage your equity.  Good luck.