Flipping real estate

no
first off flipping houses is a full time job
you can't just be "handy", you have to fix them professionally and that either takes a lot of time or a lot of money that will wipe away your profits
invest and maintain a diversified portfolio, you will be able to withdraw $40k annually to live off of FOREVER

If turning $1m into $1bn were that easy the world would be nothing but billionaires and the poor/lower middle class.

>>18042706
If I had that kind of money to invest, I'd buy a whole street or block of small, run-down houses. Say, 30 houses, somewhere in that ballpark, At an average cost of 25 grand, I'd be 750k in for those.
When fixing up them, economy of scale kicks in. You have people working for you on several houses at once. You rent equipment that you can use all the time for weeks on end.
Of the 30 or so houses I buy, I would not sweat demolishing a few lemons, Would make the neighborhood nicer, and drive up prices. All the houses I'd refinance for a separate holding company to rent, or sell outright.

>>18042732
$25k per house? Where is this? Nairobi?

>>18042735
im guessing he means down payment

real estate investment appeals to proles because the stock market "isn't real"

>>18042739
No one's gonna lend the money for 30 houses just because he has enough for a downpayment

>>18042735
No, Detroit.

>>18042747
usimg like a dozen banks?

look it doesnt matter, because it makes no sense to begin with
if you drop half the money on down payments and a lot more on equipment/labor you will have nothing to make payments with, meaning you'll have to sell 30 fucking houses immediately

>>18042758
Look at the median home values, you can find a lot of houses in that price range for sale.
25 grand down for a fixer upper?? Jesus, you fools are paying retail.
http://www.zillow.com/detroit-mi/home-values/

>>18042764
yeah
25 grand in a fixer upper
that's closing, inspection, fees, commission, and 20% down to avoid pmi

a house sold for $25k is not a fixer upper
it doesn't get fixed, it makes you a slum lord

>>18042772
What do you mean it does not get fixed? The whole point is to fix them to add value and get a profit. When you fix them, then you sell them to a separate company, (that you own) that takes a mortgage on them, that company does either renting or selling. This frees up your money back to the fixing up of what is left.

>>18042764
So ... you're telling me that if you had $2 million, your big plan to make more money would be ... buying and fixing up property in fucking Detroit?

You understand that those prices are so low because that's a shitty real estate market where nobody wants to buy, right?

Go ahead, spend your hypothetical $2,000,000. You'll end up with a whole street of beautiful, renovated houses that nobody wants to buy. Not for a price that'd make it worthwhile, that's for sure.

>>18042791
Yes. Yes I would.
If you want me to hook you up with a business plan, I can do that, for a fee. You are not getting one for free by asking twenty questions and taunting me.

>>18042791
Why do people on 4Chan always act as tough cunts who seem to know it all?

>>18042798
I'm not asking 20Q, that was my first post in this thread.

You're not qualified to give anybody business advice. You do not know what you're talking about, and your "plan" is laughably naive. A great way to end up with dozens of houses sitting on the market for years, losing you money all the while, or that you'll be forced to sell at a loss.

I'm not "taunting" you, I'm telling you how it is. No skin off my nose if you ignore me. It's not like it actually matters if you do, since you don't really have $2 million to burn.

File: IMG_6366.jpg (51KB, 800x339px) Image search: [Google]

51KB, 800x339px

>>18042810
>You don't really have $2 million to burn

Acts as if he does...

Not the Detroit poster but you're definitely getting a kick out of this know-it-all tough guy role, don't you?

>>18042818
"The Detroit Poster" <3
You make me sound like a serial killer :D Thanks, for the name, I love it.

>>18042818
Of course I don't have $2 million to burn. I don't think anything I said implied that, either.

My original post was pretty fucking mild, dude; I'm not sure what you're reacting to, unless it's the fact that I swore, twice, and not even really AT him. That's practically genteel for this website.

My second post was a little harsher, but that tends to happen when you post advice, not having any idea what you're talking about, and get belligerent and condescending when people call you on it.

And I'm sorry, but if your big plan for getting rich is to buy 30+ homes in literally one of the worst real estate markets in America, then you should not be posting stuff like this
>>18042798