..you are buying at the top from people who made shitload of money on the property.
The saying in the markets is:
when amateurs buy, it's a good time for professionals to sell.

best of luck with your investment property,
I am sceptical about your prospects.

Good luck dig420 , I am sure as hard as you work, it wil be a success.

joe....what investment experience do you have?

I'd like to rehab condos in yuppieville areas like here sometime in the future.

It's amazing how 30k worth of hot tubs, tile, cherry cabinets, and marble counters can jack the price up 100k.

slum lord!

you can buy 20k houses here in the burgh....put 10k in them...section 8 them out and make 10k a year profit from each!

joe....what investment experience do you have?[/b][/quote]
I owned two rentals, one on the coast of washington, and the other in kissimmee down by disney....

sold them both after about 2 yrs of rental on one, and 3 yrs rental on the other one....

I lost money on the wshington house, but made money on the kissimee house..

That is it for real estate investment for me so far, as experience goes.



Last edited by JoesHO1 at May 25 2004, 08:51 AM

I owned two rentals, one on the coast of washington, and the other in kissimmee down by disney....

sold them both after about 2 yrs of rental on one, and 3 yrs rental on the other one....

I lost money on the wshington house, but made money on the kissimee house..

That is it for real estate investment for me so far, as experience goes.[/b][/quote]
and what exactly are you basing your prediction and asurance that Dig is gonn amake money in real estate market in CA?

First off, I'm a newbie in this game and I certainly can't match your knowledge on real estate or investing.

The word I get on the market around here is that property almost never goes down in price. The points may go up and home sales may slow down but your property will retain it's value in the slow periods and the long term on good property in L.A. is always trending up. Eventually there'll be another hot market like we just experienced, and that'll be the time to unload and trade up or use the equity to leverage some more buys.

In any case, the long-term on real estate around here is much better than the long term in just leaving your $$ in an MMA. I hope.

you can't even buy a parking space for 20k in Cali unless you want to live in Compton.

minimum 700k for a decent place with at least 2k sq. ft., and that's mid to low end residential property.

A good thing about real estate is that you have appraisers and inspectors representing the interests of the lenders in addition to other checks and balances. Dig is a bright guy and there is no better investment than property for those who are serious about it. everything is a learning experience. those who actually learn and persist can succeed at anything.



Last edited by JR at May 25 2004, 11:32 AM

There is still money to be made in Re. It all depends on the markets. This is a huge country, only a few urban areas are on the bubble ( in my opinion).

The secret to making big money on Re is to be patient, and have a long term game plan. Flipping properties over within 5 years, people will rarely make money. But investing long term over 25-30 years can build a nice empire.

Serge, have you seen the bounce back in the REITS the past 2 weeks. Wish I would have gotten back in them.

Oh and Dig - Good Luck!

:okthumb:

cool,
please keep us posted and if you beat the maxim associated with newbies-
more power to you

Thank you :)

MikeAI,
ETF's did much better than RTEIT's,
you don't see me posting much during the nday,
to many wheels turning at once
;_))

finally even my INTC sees the light
;-)))

and what exactly are you basing your prediction and asurance that Dig is gonn amake money in real estate market in CA?[/b][/quote]
What I base my predictions on is not the market, but the person in the marketplace..

Dig420, seems to run a tight ship, and from what I see of his outlook toward things, he is a very level headed guy.

he is an obvious entrepanuer, and needs nothing other than self motivation to do the work.

preporation + determination + opportunity x common sence =success

Serge...made had some gains on my GVT today as well!

Lira,Yen or Rupees?