May
9
investing in real estate
May 9, 2008 |
I don’t make much money right now but I was doing a normal income. The internet is a business of ups and downs from what I have seen in the years I do it. Everything keeps evolving. What works today might not work tommorrow. So I ran into a guy from one of the paid forums I frequent who lives in Nebraska. I read that he bought hes house for $70,000 . I thought wow that is super cheap compared to most places. I actually think its one of the cheapest states to live in. I live in Portland Oregon and homes have gone up quite a bit in the past 10 years. 10 years ago you could of bought a median home for around $150,000 maybe a little cheaper. Today that house is probably worth $250,000 or more. You cant find anything under $200,000. Maybe a few but not likely. I got too looking on craigslist and you can find livable homes for as cheap as $40,000. One person was even selling fixers for $10k each. One had a big hole in the roof. Another the bathroom needed to be fixed. So I have sorta planned to try and get into a cheaper home and maybe do some tic investment things. I would have to do the numbers cruncking to see how profitable it would be. I would try and buy twenty cheaper houses and rent them out. I would shoot for a low profit maybe 200.00 a month on each one. Not sure what would be possible for profit. I didnt think there still was a area you could buy a home at a affordable rate. I knew of places in PA but they where townhouse type homes that are connected to each other. I’m always looking at ideas and real estate is a less risky business unless you try and fix and flip then most businesses. You see alot of people who already have money investing in real estate. As a kid my best friend his father did this and had at least five homes. He probably has at least 10 investment properties by now that was about 15 years ago.