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/biz/ - Business & Finance

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1473623 No.1473623 [Reply] [Original]

Anyone here have success in rental properties?

If you could go back in time and meet yourself, what advice would you give to your former self?

>> No.1473636

It's ok to do mistakes I think

>> No.1473650

>>1473623
Buy property in Silver Lake.

>> No.1473763

>>1473623
Id tell myself buy oil at 27

>> No.1473787

>>1473623
I own 2 rental properties.

One is a trailer in a park that I dont own.

The other is a trailer on an acre that I own.

I am looking at buying a 5 acre tract to put several trailers.

Basically, I like trailers because I get my money back in 5 years and I have no debt.

>> No.1473918

Be very careful with hires. One mistake can last 3 months. Someone you hired can make multiple mistakes that compound.

Do not rent to the underclass.

>> No.1473950

Anything will cash flow of you throw enough money at it, but that doesn't necessarily make it a good investment.

Don't count on capital gains, if it happens consider it a bonus.

Almost all deals won't be worth it, it's a numbers game.

>> No.1474975

Buy fucking everything before 2007 rolls along.

>> No.1475060

I am considering buying some properties and looking for advise.
Currently saving up cash and plan to take a real estate class and property management class next year. But no matter what will hire someone else to manage any properties owned.
Does anyone have any tips or recommendations to start out?

>> No.1475087

I've got about 200k and I'm looking to buy condos to rent out in Tallahassee. What should I know? Is this a good idea?

>> No.1475153

>>1473787
I live in a trailer on 11 acres and all is owned by my landlord. She also owns like 5 more on other areas she owns. She drives the same car she had from the 90s still and always complains she is broke and talks about Jesus non stop because he will come save her. I wouldn't recommend trailers. They only lose value and never increase.

>> No.1475297

>>1473623
Put half of every lump sum I ever got, birthdays, freelance jobs etc. etc. into a term deposit. And don't fucking touch it.

>> No.1475302

>>1474975
why buy at the height of the bubble? I think you mean buy AFTER 2008

>> No.1475303

>>1473623
I'd go back in time and tell myself to read Rich Dad Poor Dad

"Best known as the author of Rich Dad Poor Dad, Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes the world needs more entrepreneurs.With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education."
as one anon put it