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Real estate

Discussion in 'Stocks & Investments' started by rab89, Oct 21, 2010.

  1. Oct 21, 2010 at 9:46 PM
    #1
    rab89

    rab89 [OP] Well-Known Member

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    Ross
    Kelowna b.c canada
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    I am looking for some info on real estate investments and how things work, I would appreciate some answers from canadians, as things work differently in the states. but all input is welcome!

    What kind of real estate investing are you doing?

    buy fix sell?
    buy and rent?
    buy low and sell when the market goes up?

    Just exploring my options and wanting to hear a few stories, good or bad!

    Thanks in advance
     
  2. Oct 22, 2010 at 5:29 PM
    #2
    rab89

    rab89 [OP] Well-Known Member

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    Ross
    Kelowna b.c canada
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    no investors on here?
     
  3. Oct 22, 2010 at 5:35 PM
    #3
    scottri

    scottri Well-Known Member

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    Tigard Oregon
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    I invest in real estate in the US but I'm afraid I don't know jack about Canadian real estate.
     
  4. Oct 22, 2010 at 5:36 PM
    #4
    rab89

    rab89 [OP] Well-Known Member

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    thats ok, are you buying and renting out the properties? is it hard? I'm brand new, so any info is appreciated. how many places do you own?
     
  5. Oct 22, 2010 at 5:37 PM
    #5
    08pretaco

    08pretaco Almost there

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    my parents buy houses and rent them out. they do very well for themselves with it! they have multiple properties
     
  6. Nov 6, 2010 at 7:59 PM
    #6
    TACOMA TRD

    TACOMA TRD Well-Known Member

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    I bought a double block on my street and fixed it up and rented it. I have no problems with my tenants, however, I heard of some horror stories. I lot folks got burned when they purchsed houses to flip, only to have the market tumble. Real Estate is a gamble now.
     
  7. Dec 30, 2010 at 11:09 PM
    #7
    Przemekmsu

    Przemekmsu Well-Known Member

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    Right now you want to buy and rent cause of the market. You can buy cheap, rent it out for pretty much what you mortgage would be. Sit on it for few years (at least till the real estate turns around) and then you can sell it for a lot more.
     
  8. Dec 30, 2010 at 11:26 PM
    #8
    GTACO

    GTACO GTACO

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    What he said.....:D
     
  9. May 17, 2011 at 7:42 AM
    #9
    river rat 69

    river rat 69 Well-Known Member

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    Pal from h. s. Has 45 houses, been buying and renting them out for 40 years. On paper hes worth 4.5 to 5 mil. not bad as he has made this with other folks $. Orl Fl is good for rentals as we always have a large turn over. You need to check out your home town for rentals do they sit long or go quick. If you are young I say try it with 1 or 2 homes. If you like it buy more if not sell out. Good luck, Jim
     
  10. Dec 15, 2011 at 12:53 PM
    #10
    angdefeo

    angdefeo Well-Known Member

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    The only downside of being in the real estate game is being a landlord. I owned a 2 unit property for a few years. Luckly i sold out when the property in that area went up. The only downside for me was dealing with the tenants. One was a long term person who lived in the apartment. The other stayed rented for 85% of the time.

    The down side for me was trying to find tenants and taking calls from them with items that were broken. The other bad thing was dealing with the landlord rules in my community. You need rental licenses, business privelage licences, and some toehr things. If you own multiple units then its worth the time. But for two units, it took up to much of my free time.

    Good luck with what ever you choose.
     
  11. Jan 21, 2012 at 11:41 AM
    #11
    Thorpedo26

    Thorpedo26 Well-Known Member

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    my family lost tones of money when the market went to crap a couple years ago, we got into the fliping game and then couldnt sell the homes. The key is to not get money loans if you have the cash. if your flipping have money to buy that house because alot of times it will sit a long long time.
     
  12. Mar 6, 2012 at 9:24 AM
    #12
    Evil Monkey

    Evil Monkey There's an evil monkey in my truck

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    My wife and I are planning on renting out our condo. We're refinancing it now to take advantage of lower rates (which is turning out to be a real pain). Once we do that, we'll be saving up some more money to buy a house and then rent out the condo.
     
  13. Apr 17, 2012 at 6:04 PM
    #13
    maxpower29

    maxpower29 Well-Known Member

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    Hey man, Im 25 and bought my second home in 2011. I still own our other semi and rent it out. It was simple to get too and the process was easy. Just came up with the DP and I was good. Rental people are great so far too, and any extra money goes to my lowest amount mortgage (rental house) and once thats paid off the rental money will basically pay my other mortgage. Its a win win if you can balance the books. Im lucky because my work offers stupid overtime and pays like crazy to work it. So the whole process is not too stressful
     
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