"Oh he made his money in real estate."
December 6, 2012 12:50 PM Subscribe
I constantly fantasize about investing in real estate. Is there a "low risk" or "beginners" way to get into real estate investing? If you're one of those people that "makes their money in real estate" I'd love to hear about the ups and downs.
posted by windbox to Work & Money (14 answers total) 24 users marked this as a favorite
I have a good chunk of money saved up - nothing huge, but enough that it's probably time to start investing in things. I realize that there are safer investments to make, but my question is about real estate. I've always had a completely amateur but borderline-obsessive fascination with real estate - researching home/rent values in different cities, neighborhoods in transition, inner-city migration patterns and gentrification, etc. I don't know why, but I could spend hours reading about up-and-coming neighborhoods and rent prices in cities that I don't even live in, and the new businesses that spring up as more people move from the suburbs to the city (or vice versa).
I constantly fantasize about "investing in real estate" - buying properties in different cities and renting them out using a management company, or flipping houses, or something - I don't even know how it all works or what's smart or what's not a good idea, because my experience is 0. I'm only 25 and have never bought property before.
I don't really know anything about investing in real estate but would love to learn. What type of personality type suits it best? How much money would you say is enough to make an initial investment? What are the initial expenses? What are the pros and cons of investing in real-estate for a living? What makes a real-estate investors life stressful? What makes it great (I imagine a flexibility to be ones own boss, make their own money and work not-too-long hours)?
Any blogs or legit (non-sleazy) resources online would be greatly appreciated, as well as personal experience.