real estate,flipping houses,income property?
478343
You can always purchase another home.  If you are not planning to live in it you would apply for a non-owner occupied loan.  The rates are typically higher for this type of purchase.  Additionally the amount a lender would provide is also typically less due to the increased risk. You mention doing improvements and flipping it.  There are some risks involved with this type of venture.  First a new lender may not wish to finance a property they know will be sold shortly after granting you financing as it is not cost effective for them.  Also after you renovate the home the new purchasers may have trouble obtaining financing since you purchased it less than 12 months ago.  If you do re-sell the investment property in less than 12 months the new purchasers lender may require evidence of improvements to the home to justify the increase in value from the time you bought it to the time you re-sell it.  I recommend you keep all receipts and cancelled checks you obtain during renovation to adequately substantiate the value increase.  House flipping is not easy task.  You can lose your shirt if you are not careful.
1033868
I am not sure about houses in PA, but I buy houses in Illinois. Some i keep for rental income and others I flip.  There is money in flipping houses.  For example I am completing a rehab now, paid $25K and put in 26K for total of 51K.  Houses in the area sell for $95k and up.  Minimum net could be $44K.   \n\nThere are many things to consider: location, your credit score, start up costs, how long can you afford to keep it with no income. Once you sell a few, you will have working capital.  Myself, I have rentals, and always have cash flow extra from these units, plus I can tap into the equity on the buildings I own and use to buy and rehab.   There are a lot of books out there on flipping houses. I suggest you do your homework in detail to make sure you can do this.
297585
First of all you have to find about 200 really strong friends to pick it up.  \n\nSeriously though, flipping houses is buying cheap fixing up quickly and then selling for a profit.
387034
Need so much more info to answer correctly - what is the gain, how long did you own the property, what kind of property was it.
312405
Be a Real Estate Investor!\n\nYou may want to look at this web site:\n\nhttp://www.esideliver.com\n/campaigns/rga_hi2/index.\nhtml?link=6575&tl=1&oeid=\n\nThere are no breaks bewteen the lines, yet, the system would not print it in one line but abbreviate it.\n\nRobert Allen is a realtor and seeks 100 people who want to be a millionnaire in a year. I would love to, but I am not interested in real estate. I have looked into his e-material and found it locigal and very smart. I believe that what he says is real. I have also met him at a business seminar and convention and found him very convincing.\n\nHere is more:\n\n1) Robert Allen Institute\nwww.robertallenworkshop.com \n\n2) Free Workshop on creating wealth in Real Estate with no money down. Robert Allen Millionaire work-at-home-income-streams.com   Home business success secrets that work. Multiple Streams of Income. The Official Robert Allen\nwww.RealEstateSecretsOnline.com \n\nGood luck and much success! Make your dream come ture!\nCordially, India.Magica
564839
My family is selling a house in Detroit right now and I asked the realtor how accurate those kinds of sites are.  He said it's really hit or miss.  Those sites dont take into account the condition of the economy of the area where you live along with a few other variables that can skew your results.
1127036
Real estate is a super huge thing It was a better investment for me than stocks as I was always able to use my investment . Can you eat stocks or live on them? Be careful because there are ways to gain and ways to lose. Don't ever borrow too much or it will all disappear. Hey why not just go into money lending?
968955
I would venture to say Real Estate.
149002
I would go to reator.com and find a local realtor for that market. This had helped me in the past as I'm a real estate investor in four states. Realtors can be a worth while asset to your portfolio
30682
Work two jobs. Use the income from one to live on and the other to invest. Land usually is a great investment with high return. Good luck.
354669
Greetings,\n\nI may be able to assist you.  \n\nFYI: I have a Real Estate Website for Investors with thousands of Properties for Sale, e.g., HUD Homes, Tax Sale Properties, Bank Owned Properties, and Mortgaged Foreclosed Homes for Sale throughout the country. \n\nNote: I am not a Realtor or Real Estate Agent, but rather an Investor like you.\n\nCurrenlty, Access (to the HUD Homes Section on my website)is FREE. \n\nIf need you can Email at: bigiminc@yahoo.com\n\nThe Website is: http://www.delinquenttaxsales.com
153199
Real estate...beneficial all the time!
1164368
Some new developments offer purchasing opportunity for low-income people.  They offer the houses at below-market rates.  Check your local area for new developments and see if they have such a program.  I think they're called VMR.
4919
The have a few options... if the numbers work out then go for it. I believe,  that if your property was aquired from using a 1031 exchange, then you will have to hold the property for 60 months and live in this property for 24 months out of those 60 months to qualify for the tax exemption of gains up to 250k/ 500k if you are married and file joint returns. Depending on your need for the capital, liquidity, and when; would be the questions I would ask \nyourself. If it was me, I would look in to more real estate, maybe a 1031 exchange. What other investment can you not only cash flow from, but is a leveraged asset. Hope this helps.
806878
If you are not familiar Dont,if you thinking of this type of business,get someone which is good in this trade to help you for a start.(normally an estate agent)\nTry not to flip too much houses at a goal.(my suggestion for a start try 1 or 2 properties until you are more familiar)\nDo not invest your monies on 1 area, try different areas or even countries you may think of potential.\n\nGood Luck\nemail jassmode@yahoo.com.sg\nColdwell Banker Real Estate (Singapore)
149973
Have you heard of the book Rich Dad Poor Dad? The author, Robert Kiyosaki, has written many books on real estate investment as well as money management. \n\nHe advises looking for undervalued property that will bring in rent that is more than the cost of the mortgage, property tax, insurance, and maintenance costs (i.e. "positive cash flow"). Such properties have become increasingly difficult to find during the real estate mania of the past few years. Don't buy property that is cash-flow negative in hopes of appreciation - that is gambling, not investing. \n\nhttp://www.sfgate.com/cgi-bin/article.cgi?file=/gate/archive/2005/07/22/carollloyd.DTL
32077
Remember you only make money when you BUY a property, not when you sell it.  That means that you have to "make" your money when you buy the house.  Make sure you have enough equity in the house upfront to:\n\n1.  Repair the house for sale.  This includes all remodeling, landscaping, etc.\n2.  Carry the costs of ownership of the house while the repairs are happening.  If you take 45 days to repair the house, make sure you have 2 months worth of mortgage payments onhand.  This is called "carrying costs"\n3.  Pay the real estate agents.  Typically you will need to pay between 4-6% of your selling price in commissions to sell the house, depending on your area.  If you don't use a realtor, you can save that fee, but you might not get your property sold in a timely fashion and may eventually get less money for the house.\n4.  Cover the capital gains tax.  Remember, short term flips are taxed at 25% federal and (in CA) 9% state.  Make sure you get sound tax advice before you spend your profits.\n\nA good rule of thumb is to find out what the comps are like in the area, offer 70-80% of the comp value (this is CA, by the way .. if you aren't in a "hot" market, like CA, HI, FL, NY, etc, then offer 50-60%).  This should give you enough room to carry the loan, rehab the house and, to quote The Steve Miller Band, "Take the money and run!"