Real Estate General. Looking back at your 2016 fiscal year

>>1649229
>I made 135k this year alone
what's that, $14k real dollars?

>>1649231
More like 100k USD

>>1649229
Hey I got a question
>>1649339

I closed a building in Connecticut with a 12 million dollar profit, 2.4 of it going to me. You made 130,000 which is basically what my brother makes as a insurance salesman. Who and why would people take advice from you? Or are you just wanting to brag about finally hitting 6 figurs in one year.

>>1649385
proof

>>1649385

Why wouldn't you keep it open if it was making that much money?

>>1649394
>proof
Lol no >>1649401
>
>Why wouldn't you keep it open if it was making that much money?

What do you mean by "keep it open"

I'd be happy to explain what I can but you need to ask me a real question.

>>1649529
>Lol no
then why should anyone listen to anything you say based on 'accomplishments' you can't prove ever happened?

OK, so I have some money that I've been fantasizing about investing in some real estate in a nice location like Florida or California or something.

What are some good markets to get into right now? e.g. if I wanted to buy a place and rent it out?

>>1649535
>>Lol no
>then why should anyone listen to anything you say based on 'accomplishments' you can't prove ever happened?
I think you're confused.

>>1649537
Do you want to be a landlord? Id stay away from holding residential unless you play the numbers game and contractually buddy up with some sort of real estate management firm.

>>1649558
Yeah, I'd hire a property management company (I think there are some out there that charge an 8-10% fee on the rent) to do everything, I'd just own the place.

Let's say I wanna make 10k in one month, and then forget the rest. What's the best investment I could make in real estate? It doesn't have to be 1 month, but it has to be relatively quickly. I'm not looking for growth, I'm just looking for some good entry amount.

How did you get into real estate? Did you start off with smaller properties and work your way up to the 2 you have now? And what would you say is the most frustrating or difficult aspect of what you do?

>>1649577
"How do I make 10k in real estate in 1 month?" Doesnt offer enough information for anyone to give you legit advice. Unless you're here just to type bullshit, then I'd suggest rethinking your question.

My answer based on what you've given me so far: Start sucking dicks or put all your money on black.

>>1649229
Hey thanks for posting. I have a few questions:

>What is the cap rate in your market?

>How much leverage do you typically use?

>Do you buy and hold or get into value-add projects?

>Do you think someone with a little cash and A few SFH could get financing for commercial?

>>1649566
>Yeah, I'd hire a property management company (I think there are some out there that charge an 8-10% fee on the rent) to do everything, I'd just own the place.

Personally, I stay the hell away from residential so I won't give you much bad advice. I will advise you to stay the fuck away from the Cali market. I did a project in *socal industrial city* back in the 90s and I swore to never put myself through that shit again. Those dead turtles are on the neoliberals hands, not mine.


**Lawyer would kill me if I gave more detail

>>1649229
Where in montreal out of curiosity, i live there.

>>1649594
Ahuntsic.

>>1649385
The point of my thread is answering questions for people having questions, unlike you. You come here and brag about stuff like a little bitch so fuck off.

>>1649590
>What is the cap rate in your market?
6%

>How much leverage do you typically use?
I usually have a ratio of 20% of my money and 80% loan of the total market value from my bank at 2.5% interest rate.

>Do you buy and hold or get into value-add projects?
I buy and hold, I don't like doing flip although I have some friend who do it and in the end it gives you more stress that way and you don't get that much money since there is a tax here every time you buy a property.

>Do you think someone with a little cash and A few SFH could get financing for commercial?
You might have to look up many banks until one of the accepts to give you a loan in your case, don't give up. Visit at least 10 different banks if possible.

What kind of website do you use to evaluate an area, is there some kind of website or something that tells you undervalued areas, crime rates, etc?

>>1649735
Shit i mean what kind of screeners

>>1649739
Best way is to go ''shopping''. Go around making offers and make sure you can visit and ask questions and after visiting a few areas and buildings you will start to understand how things work. Personally I know every corner of Montreal because I go around with my car and look at people. There is a part with a lot of poor people where buildings are usual cheaper and I don't buy there. Look up on internet also, the most important thing is vacancy I'd say.

http://www.investopedia.com/terms/v/vacancy-rate.asp
http://www.investopedia.com/articles/mortgages-real-estate/10/increase-your-real-estate-net-worth.asp

Where do you live btw?

>>1649749
South Carolina

>>1649749
>>1649760
Charleston to be specific

>>1649762
Depending on how much money you have (usually you need 20% of the value of what you're going to buy so for a 500,000$ building you would need around 100,000$. Now next step is according to how much money you have where are you able to buy. Then you can proceed on finding data about a certain territory. I don't know any websites for your part of the world since I'm from Canada (Quebec). You'll have to look up, probably USA census or stuff like that but keep in my that the higher the vacancy is, the worst the investment you'll be making.

>>1649765
I looked it up and found this site which lists my area around 7%, whats a good vacancy rate to be at?

http://www.deptofnumbers.com/rent/south-carolina/charleston/

>>1649773
normal is around 3-4%

7% is really bad

>>1649773
http://www.louer.com/info-centre/renting-apartments-montreal135.htm

>>1649820
That data was in 2014 so its probably higher today

So should i not bother until it lowers/ move to a different area or be really careful in the properties i choose?

>>1649831
Be careful. It doesn't mean you can't buy. It means you might need a safety bank account in case you get a bad year and lose money. I always have an extra 60,000$ in case I need it. Never fully invest your money without having a safety net.

>>1649580
>How did you get into real estate?
this. did you work a real job for a while to get starting capital or did you have a small loan of a million dollars?