Real Estate General

Yo Zig Forums

I never see anyone on this thread talk about real estate and if they do they're either lost or have misconceptions.

I own over 40 pieces of property - ask me anything.

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anyone else have rental properties?

Where do you own these 40 properties? Bollywood?

man Zig Forums has become a shitcoin board.. sad.

Better to buy two 250k houses or one 500k house for renting out?

Michigan / Metro-Detroit area

10 of them are lots I plan on developing

Are you commercial real estate user?

thats a tough question - it really depends on the area but if you were planning on cashing them out approach the buyers and try working out a land contract with significant money down and maybe you can shill your way to buying all three

Does the bursting of the bond bubble scare you? if interest rates increase to 6%, are you still above water?

We have a real estate discussion every day. Which board are you from?

I'm very diversified - most is commercial but alot of it is industrial and residential

I do not owe debt on any of the properties - that doesnt concern me. If the bubble bursts the only people getting fucked are overleveraged assholes who didnt learn their lesson in 2008.

since they added Zig Forums i've stayed here

Impressive.
Most impressive.
I have never met anyone in RE who wasn't!

How’d you get started? I make good money at my job but I’d rather have real estate rent

If the bubble bursts and in return the foreclosure rate goes up then it would give me an opportune time to buy. The worse the economy the better for residential so I'm not worried about losing tenants. My commercial would be in danger but 4 are restaurants so I could manage. Industrial would be stronger since more renters / less buyers (in ideal conditions most industrial users would rather own)

no wonder you have so much considering each piece costs like 1k.
any of the houses get burned down yet by rampaging African American gentlemen yet?

What is Real Estate?

I started by buying my first properties on a foreclosure auction - they were abandoned commercial properties off HIGH TRAFFIC roads

they were very inexpensive at the time

i found some paper plots for sale for what i think is cheap in the town where my family is from. the listing says its un-buildable. what does that mean? can i still put a trailer on it? also, if it ever does become buildable it will be very valuable. i know nothing about this field though

You do understand that Metro-Detroit has some of the richest suburbs in America (outside NY and Cali)

ahhh unbuildable lots - I bought a property on auction one time, turned out it was unbuildable. Huge learning lesson. I store shit on it lol

it depends on the city ordinance - they might have something that specifically says no trailer but if you but a RV on wheels you might be able to get away because its your property and your vehicle is on your property. Check with the city they will answerr all your questions

unbuilable means per city requirements they will not allow you to build a structure on the property. This might be because the lot size with setbacks (from road or nearest house) isnt large enough, its on a wetland, or has easements running through it

thanks, my dude. i just looked at the area today out of curiosity. it looks like they have a plan for the area, but who knows if theyll ever expand there.
also, how do i find property for sale in industrial areas? i cant find any listings in this port area; i wouldnt even know who owns the land.

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landgrid.com is a great parcel viewer based in Detroit but might work good in your city bc it works well in a lot of others.

Find the owner and literally approach them- worst thing they can say is no. Low ball first because most property owners do not know what their shit is worth (not in a good way - everyone thinks their shit is gold) so look for abandoned or neglected properties). One persons headache could be your next project

also craigslist housing works great I go on there weekly and have bought quite a few properties for good deals - it might take a minute to get the hang of but I love it

>look for abandoned or neglected properties
theres tons of warehouses and old canneries, but its a port so idk if that complicates things. thanks again. ill be lurking this thread

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If you had no RE, but $600k cash, what would you do?

you got to be careful with industrial especially with post industrial boom cities due to contamination - an environmental survey is a cheap way to protect your health


Also how to find sellers

>Use landgrid to locate interested property
>If its an LLC go to your states LLC search and paste the name in and read corp papers
>send them a letter to mailing address or just google their name with address and 7/10 times a phone number will pop up

>if not a corporation just google their name with address to get phone number

Saving up money for a down payment on a duplex to start getting rental income.

When’s the best time to buy, and what resources do you use to find good deals?

What are some things you’ve learned by making mistakes that you wish you could tell yourself when you first started?

Well I'm working on a website right now that is going to literally change real estate - so that 600k would really help speed things along.

but to answer your question I would

>Buy 15 bitcoin @ 10k ea (150,000)

>buy a house on a land-contract and start a marijuana grow operation (50,000 down / 75,000 for nice setup

>invest 20k into old silver coins (just wish these prices werent fucking retarded like rn

>start a small restaurant with strong emphasis on carryout and minimal human interaction (rent in good area 4k month / 75,000 to get started

>keep rest and buy stocks at yearly lows


>maybe go to law school and become a professional shill

What is a commercial real estate and how do you profit off of it?

checked

The residential housing market is fucked right now. Never before in American history have we seen a phenomenon where there is an undersupply of residential property along with the USD inflating relative to property (I.E. rising house prices)

The best time to buy is in a down economy, I was buying my first properties in 2012 when the economy was still struggling.

Resources to find good deals
>landgrid
>craiglist
>zillow (kind of fucked but hey it might work)
>for sale by owner signs
mistakes i've made:

>I went to an auction / I didnt do my research on two seemingly great lots - I bought them and it turned out both were unbuildable (lost 20k total)

>every year the state and city do tax assessments, when you just purchase the properties they state get this info and will try to hike your taxes up. go to the tax hearing and appeal

>repairs and maintenance always cost more than what you plan

commercial real etstae is anything that someone might want to put a business. Think restaurants, stores, gyms, etc)

You profit by buying units cheap and renting them out - I generally want to make my return in 3 years minimum