Real Estate Investor

[max_boost]

Just looking for some clarification, what exactly is a real estate investor? Someone who actively participates in the development of new communities? Someone who invests large amounts of capital into communities (like builders)? Someone who just buys and sells houses for profit? Or someone who buys and rents property to gain equity over time?

[E36M3]

d. all of the above

There are also many other ways to invest in real estate. I really liked reading books in the "Rich Dad, Poor Dad" series on real estate investing. At the moment, I just own one house, so it isn't like I know a lot about it, but I do have lots of family and friends involved in all aspects of the business, and it is quite interesting.

[Hakkola]

You left out buying and selling of land, this is still real estate and probably one of the most common things.

[ZorroAMG]

Real Estate investing has many different aspects. I am involved in development (multi family and commercial) whereas some may just buy houses and rent them out...different degrees of investing. Owning a strip mall, office tower or duplex are all part of investing, some just require much more knowledge and capital

[HRD2PLZ]

I'm involved in the Investment side of the business where I buy homes for rental income and/or flipping them to resell. I don't do it on a large scale, just something I do when I see a good deal come on the market.

[max_boost]

Originally posted by HRD2PLZ
I'm involved in the Investment side of the business where I buy homes for rental income and/or flipping them to resell. I don't do it on a large scale, just something I do when I see a good deal come on the market.

In that case, I can consider myself an investor as well Real estate is perhaps the safest way to invest your money, not much return short term, but in the long run, it's alllllll good

[jdmakkord]

Build a mid grade duplex in a community close to DT, make it trendy with decent finish, and rent both out. You could have 2000+ pouring in a month, that will easily take care of the mortgage, and a profit too.

[JordanLotoski]

yah u have to remember building a towndown duplex thats tredny is gonna cost you 1-2 million bucks....so i dont know if youd have cash for a profit right away, but it would be a great investment

[roopi]

Originally posted by MIWYFSHOT
yah u have to remember building a towndown duplex thats tredny is gonna cost you 1-2 million bucks....so i dont know if youd have cash for a profit right away, but it would be a great investment

I think you need to find a new builder.

[ZorroAMG]

Good area close to downtown is gonna be a least 400 for land, then say 350 for a decent finished and sized duplex...750 total...

You'd need 187500 down and then STRONG income for the 565,500 mortgage.

Smart idea MYWYFSHOT, but needs a ton of capital...

[max_boost]

Or an alternative to the above, I have a buddy who bought a house that was situated on two large lots. He's knocking down the crappy little house and building two 2000sq.ft homes. He lives North of 16th Ave/Edmonton Trail. The two houses are going to sell for $400K each easily!! Must be proximity to downtown That seems to be the trend in those areas, knock down the POS and build a pimping pad

[jdmakkord]

Originally posted by max_boost
Or an alternative to the above, I have a buddy who bought a house that was situated on two large lots. He's knocking down the crappy little house and building two 2000sq.ft homes. He lives North of 16th Ave/Edmonton Trail. The two houses are going to sell for $400K each easily!! Must be proximity to downtown That seems to be the trend in those areas, knock down the POS and build a pimping pad

Sort of what I was saying, no need to build right downtown. A friend of mine did this in killarney, and sold the 2 duplexes for appros 440k each!!!

[sputnik]

Originally posted by max_boost
Or an alternative to the above, I have a buddy who bought a house that was situated on two large lots. He's knocking down the crappy little house and building two 2000sq.ft homes. He lives North of 16th Ave/Edmonton Trail. The two houses are going to sell for $400K each easily!! Must be proximity to downtown That seems to be the trend in those areas, knock down the POS and build a pimping pad

What did he pay for the lot though?

Most lots big enough for 2 houses are selling for $250-300k minimum. 2 decent houses will then cost at LEAST $200k each to build.

So we are back to $650-700k.

Not much of an investment. Unless he bought the land a long time ago when it was cheap.

[sputnik]

My thoughts of realestate investing... (assuming we arent getting piles of money from our parents or something).

Buy your own house and pay it off as fast as possible enough to refinance it and pull out a 25% downpayment for another house. Buy another house and rent it or flip it (if its a killer deal).

Lets face it, very few of us are capable of undertaking and financing an $800,000 downtown duplex project. If you are capable of it. Go for it.

[ZorroAMG]

Werd to that Sputnik.

[max_boost]

Originally posted by sputnik


What did he pay for the lot though?

Most lots big enough for 2 houses are selling for $250-300k minimum. 2 decent houses will then cost at LEAST $200k each to build.

So we are back to $650-700k.

Not much of an investment. Unless he bought the land a long time ago when it was cheap.

He doesn't post much anymore, but spyderman is his beyond name. Not exactly sure how much he paid, actually, the house sits on 3 lots. The City said he can only build two houses in case Edmonton Trail gets expanded in the future. I think it's still a worthwhile investment considering a larger size duplex sold for $550K each down the street!


I'm picking up some rental property within the next few months for my cousins so that should work out well for me as I take advantage of my last few years at home

[barmanjay]

We'll If you guys are into investing, I've got a whole bunch of years in construction, and have lot's of friends in different trades.

Keep my name could come in handy.

My specialties are:

Drywall Install
" Finishing
Ceiling Texture
Finishing trim work
Tile, both ceramic and slate

basically once a house is framed, and the outside is complete,... I can finish the inside.

If you guys wanna do a project (investing), I can give you an estimate of what's it's going to cost,.... this should help you guys with your projected profits.
btw: I'm cheaper than most contractors because I do 85% of the work myself.

[HRD2PLZ]

Inner city is a great place to invest. I'm keeping an eye on inner city properties because thats where I would like to live eventually. Buy a dump and fix it up. Currently, I have 4 rental properties, One in Bonavista, one in Cranston, one in Silver Springs and one in Sundance. I also embark on rennovation projects occasionally with some buddies if I see something worthwhile come on the market