[Yeti]

I'm looking into possibly buying a run-down place and fixing it up, sometime in the next couple years.

I'm no expert in real estate but from what I've learned so far, it seems that this can be a good way to buy in a good (expensive) area when otherwise I might be priced out.

My question is, does anyone know of some good resources on doing such a thing? Where do I start - knowing what to look for, how much money can I save, how much will it cost to have someone else fix it up for me rather than doing it myself, etc.?

It seems to me that there's a market correction coming and that it's going to be a good time to buy, but then again, maybe I've just been listening to too many Peter Schiff podcasts.

Real estate in North America seems like an area where you can stand to make one of those 80/20 decisions that will make the rest of your life either substantially easier, or substantially harder. I'd like to make the right choice.

[Ogunn]

(11-06-2018 01:10 PM)Yeti Wrote:  

I'm looking into possibly buying a run-down place and fixing it up, sometime in the next couple years.

I'm no expert in real estate but from what I've learned so far, it seems that this can be a good way to buy in a good (expensive) area when otherwise I might be priced out.

My question is, does anyone know of some good resources on doing such a thing? Where do I start - knowing what to look for, how much money can I save, how much will it cost to have someone else fix it up for me rather than doing it myself, etc.?

It seems to me that there's a market correction coming and that it's going to be a good time to buy, but then again, maybe I've just been listening to too many Peter Schiff podcasts.

Real estate in North America seems like an area where you can stand to make one of those 80/20 decisions that will make the rest of your life either substantially easier, or substantially harder. I'd like to make the right choice.

A good source of information has been Del Walmsley. He has a radio show and has the podcast on his website.

http://www.lifestylesunlimited.com/categ...dio_shows/

[bigswingingdick]

(11-06-2018 01:10 PM)Yeti Wrote:  

I'm looking into possibly buying a run-down place and fixing it up, sometime in the next couple years.

I'm no expert in real estate but from what I've learned so far, it seems that this can be a good way to buy in a good (expensive) area when otherwise I might be priced out.

My question is, does anyone know of some good resources on doing such a thing? Where do I start - knowing what to look for, how much money can I save, how much will it cost to have someone else fix it up for me rather than doing it myself, etc.?

It seems to me that there's a market correction coming and that it's going to be a good time to buy, but then again, maybe I've just been listening to too many Peter Schiff podcasts.

Real estate in North America seems like an area where you can stand to make one of those 80/20 decisions that will make the rest of your life either substantially easier, or substantially harder. I'd like to make the right choice.

Property brothers:

https://www.youtube.com/watch?v=ngirBYfzIgI

If the interest rates continue going up there´s no doubt a correction will happen. Money will be more expensive and consequently less people will afford to buy.
High end real estate is already showing cracks.

[ChicagoFire]

30 days to x did a great article called "How Do People In Iowa Make Money?"

http://30daystox.com/how-do-people-in-iowa-make-money/

You pretty much hold on to land forever. I personally am on a REIT and unfortunately the FED will be raising interest rates which will hurt my returns for the time being.

Obviously pick your real estate carefully, boomer cucks brag about buying homes when they were $50K those were different times. Here in bankrupt IL our newly elected jackass of a governor will probably raise taxes on everything such as property.

[lunchmoney]

The BiggerPockets podcast and website is a great resource for anyone serious about getting into RE investing.
I got in by luck 4 years ago, and bought my 2nd property in early 2015. Flipped the first one and have a buy and hold strategy on the second one. Looking back, I wish I was more aggressive in 2014, there were deals and money to be made all throughout the South.

[Yeti]

(11-22-2018 06:20 PM)lunchmoney Wrote:  

I got in by luck 4 years ago, and bought my 2nd property in early 2015. Flipped the first one and have a buy and hold strategy on the second one. Looking back, I wish I was more aggressive in 2014, there were deals and money to be made all throughout the South.

It looks like you'll get another chance sometime soon-ish.

For those who know both the stock market and real estate investment, and assuming that there's a long-term crisis/bear market coming (an extended,years-long period of low returns in the stock market), which will provide a better return in the next 10 years - general index funds in the stock market, or general REIT index funds? It's my understanding that stock market index funds have outperformed REITs up until now.

My intuition is that REITs might be a better investment from here on out, or anyway, REIT funds invested in specific geographical areas.

For example, REIT funds invested in Miami/southern FLorida after the 2008 crisis did really well.

[MongolianAbroad]

(11-27-2018 08:53 PM)Yeti Wrote:  

(11-22-2018 06:20 PM)lunchmoney Wrote:  

I got in by luck 4 years ago, and bought my 2nd property in early 2015. Flipped the first one and have a buy and hold strategy on the second one. Looking back, I wish I was more aggressive in 2014, there were deals and money to be made all throughout the South.

It looks like you'll get another chance sometime soon-ish.

For those who know both the stock market and real estate investment, and assuming that there's a long-term crisis/bear market coming (an extended,years-long period of low returns in the stock market), which will provide a better return in the next 10 years - general index funds in the stock market, or general REIT index funds? It's my understanding that stock market index funds have outperformed REITs up until now.

My intuition is that REITs might be a better investment from here on out, or anyway, REIT funds invested in specific geographical areas.

For example, REIT funds invested in Miami/southern FLorida after the 2008 crisis did really well.

If you're assuming there's a long-term crisis/bear market coming, then cash will outperform the stock market index fund, as it will only lose by inflation. Not sure about REIT index funds I haven't studied them.

Also, that performance by cash doesn't count the bargains you could take advantage of with an economic downswing of significant duration.

I think fortunes are made in bear markets, not in bull markets. It's just the gains are realized during the economic upswings. And sometimes during the downswings too, if you got in at a low enough price during the bear market. I'm not a fan of nonproductive assets either.

The bitcoin/crypto threads are a perfect example. 99.99% of the forum had the biggest hard on for those instruments exactly when it was the absolute most moronic time to buy. I remember for a while you were risking getting banned for talking smack about bitcoin/cryptos, due to the arguments that would follow.

Most people are just dumb followers. The dangerous part is a lot of those dumb followers believe they're smart leaders. I remember all the pseudo-scientific-political-science-end-of-world-anyone-that-contradicts-us-needs-to-get-educated-about-cryptos mumbo jumbo. It was hilarious, and I just had to shut my mouth (for the most part) in order to keep the idiots from foaming at the mouth. Foaming at the mouth to LOSE their money.

It is what it is.

[rockoman]

Spaniard88,

I am pretty sure that if you graphed the number of posts re. cryptocurrency on Internet forms such as this one and compared it to the price of BTC - and the others- then there would be a very close correlation, probably with a delay of several days - price movements preceding surges or drops in the volume of posting.

'Price action makes market commentary' is one of the oldest market sayings out there for a good reason.

[bigswingingdick]

"Buy when there´s blood on the streets. "

"Be fearful when others are greedy and be greedy when others are fearful"

Or just the simple "buy low and sell high."

It goes against ones gut. Because if something is priced with a high price people will believe it´s worth a lot and so everybody will want to have it because it´s precious. But if it´s worth little then it has no value and people will want to get rid of it because they believe it has no use. What you need is to see beyond the price. Something which is worth 10 euros which is worth 100. The fact it´s priced 10 is just a momentary glitch in the system. Mr Market and all that shit. For some reason some areas of cities become cheap without reason.

There´s a newsletter which have been giving great returns (incredibly from a woman originally). They check the averages of prices and buy when its 10% above the average bottom. And sell when it´s 10% bellow the average high. This basically is the Rothschilds principle. I think it´s a sound principle of investing.

https://iqtrends.com/

For me it must produce income. To buy something just because it´s low and wait 3-4 years it´s not possible. Either it produces rent or dividends. Then I can wait while the money is flowing.

As for now prices should come down if the fed keep increasing rates. But they seem to be easing the trend. Will see. Even at this level cracks are already showing.

[MongolianAbroad]

(11-28-2018 07:05 AM)bigswingingdick Wrote:  

"Buy when there´s blood on the streets. "

"Be fearful when others are greedy and be greedy when others are fearful"

Or just the simple "buy low and sell high."

It goes against ones gut. Because if something is priced with a high price people will believe it´s worth a lot and so everybody will want to have it because it´s precious. But if it´s worth little then it has no value and people will want to get rid of it because they believe it has no use. What you need is to see beyond the price. Something which is worth 10 euros which is worth 100. The fact it´s priced 10 is just a momentary glitch in the system. Mr Market and all that shit. For some reason some areas of cities become cheap without reason.

There´s a newsletter which have been giving great returns (incredibly from a woman originally). They check the averages of prices and buy when its 10% above the average bottom. And sell when it's 10% bellow the average high. This basically is the Rothschilds principle. I think it's a sound principle of investing.

https://iqtrends.com/

For me it must produce income. To buy something just because it´s low and wait 3-4 years it's not possible. Either it produces rent or dividends. Then I can wait while the money is flowing.

As for now prices should come down if the fed keep increasing rates. But they seem to be easing the trend. Will see. Even at this level cracks are already showing.

^^ Agreed.