Has anyone on here been successful investing in real estate? What program or who's program did you follow or did you go at it on your own?

[testdepth]

I’ve looked at the “lifestyles unlimited “ website, even paid the $175 to access all
The info .
Seems like a solid plan.
And they have owners who will show you their books , show what they paid, show what it cost for renovation, show what the expenses Are , show what the profit is etc

They have a group of 10 or 12 people pool the money for the required 30% down payment on an apartment complex .

The value of a House is based on what nearby houses recently sold for. The value of a commercial business property like an apartment complex is based on the profit .
Increasing the profit 10% raises the value of the complex 30%

So if the profit can be increased by 10% , you can refinance and pull your down payment back out , or sell the complex for 30% more than you paid .
And a complex is usually large enough to support a leasing agent and a maintenance guy , so the investors don’t have to deal with any of that .

Any update on Lifestyles Unlimited plan?

 

[roundhouse]

Any update on Lifestyles Unlimited plan?

Not yet .
I gotta get the deadbeat tenants out of my rental property and sell it , so I can use that money with a lifestyles deal.

They have till the end of this month to be out . Then it’s eviction time .

 

[basstracker89]

Yes I invest in real estate. I just do my own thing. That's one of the best ways to build wealth. Some rent, some buy and sale and some buy it, use it and sale later. Main thing is not to buy more than you can afford

 

[FreedomUSMC]

I partnered with a good buddy. He and his wife are part of the Merrill-Lynch group. His wife owns a brokerage, top 10 in the state, and he has a team that renovates/ flips homes. His wife finds homes, determines the bottom dollar and profit margins, he buys the house through her brokerage, renovates, then sells through her brokerage. So she gets commission on both ends.

A few years back he told me, if i can bring $150k that would buy another house and he would lend me his team. That's been 9 deals ago. Now, I just have my investment rolling over every 3-6 months. I don't do anything else. On the low end, I've received around $6k from a quick flip house. And around $54k on the upper end, for a 5 month renovation.

If you don't know anyone, I'll ask my contacts who's looking for investors. Each company has a minimum investment limit and they vary greatly, so just be aware of that.

Another option is, like someone said, create a pool. The least amount of people the better, and have an Attorney draw up the terms. KEEP IT SIMPLE. Our agreement is 50/50 split after Contractors are paid. No extra jargon. No caveats. At the closing, we each get a copy of the documents so we know the splits and the total Contractor cost.

Lastly, buy a property and rent it. I bought a townhome in 2018, upgraded homes and decided to keep the old one. Rent is $2000/ month in an area the average is $2200. My mortgage is around $878.

 

[dhal22]

I've owned investment properties before but finally hit on a good one 7 years ago. A multi tenant property, I've only had 1 turnover, rents now exceed my monthly mortgage payment by over $2000 and the primary building is at least $800 below market value. I think we will agree on a $400 a month increase in April so up goes my income even more.

I am looking for another property just not right now.

 

[moosensquirrel]

Buy low, sell high, collect early, and pay late

 

[ponyboy96]

I’ve done long term rentals and working on a short term vacation rental now. I made some money in the long term market, lost money sometimes due to maintenance and upkeep, sold and cashed out. Short term rentals have a much higher rate of return, but are also a lot more work if you manage it yourself. The days of buying and flipping are out with current interest rates and the decline in pricing. Best to look at anything you purchase as a longer term investment. Wait for prices to normalize and jump in when everyone is running. My advice, start small. Buy places you would live in. One way to start is to purchase a new place and rent your current house, fix it up while you live there, keep repeating every few years. When you can’t claim the homeowner exemption on the 1st property, sell it. Leverage as much as you can to build wealth. Real estate has made plenty of people rich. It’s really not difficult. Commercial property makes a killing, that’s my next venture.

 

[rockyfatcat]

I’ve done long term rentals and working on a short term vacation rental now. I made some money in the long term market, lost money sometimes due to maintenance and upkeep, sold and cashed out. Short term rentals have a much higher rate of return, but are also a lot more work if you manage it yourself. The days of buying and flipping are out with current interest rates and the decline in pricing. Best to look at anything you purchase as a longer term investment. Wait for prices to normalize and jump in when everyone is running. My advice, start small. Buy places you would live in. One way to start is to purchase a new place and rent your current house, fix it up while you live there, keep repeating every few years. When you can’t claim the homeowner exemption on the 1st property, sell it. Leverage as much as you can to build wealth. Real estate has made plenty of people rich. It’s really not difficult. Commercial property makes a killing, that’s my next venture.

While I agree with most of what you just said. Between telecommuting, digital commerce and the decline in brick and mortar, I’m not going commercial

 

[Sentinel_go]

On my own. I use 3 different strategies. Financial freedom is what it is.

 

[Sentinel_go]

Not married, no kids, Not my main job sorry. Should've clarified.