- Sep 11, 2003
I've found over my career that most Realtors (and appraisers too) are not investors in their own industry. Does this make sense?
YesDoes this make sense?
Partners are often a problem. Misery loves company and we often don't trust ourselves and think we are spreading risk by taking a partner. But I am convinced doing so invites friction, a break up of the partnership, and often financial distress for one or both.get involved in a real estate investment partnership
I have owned rental property and managed several apartment complexes (7 to 75 units).
I do not like the late night calls (locked out/ice maker leak/ etc.) nor dealing with collections.
That is just silly. Borrowing money to pay for an investment property with a positive cash flow is just smart and a way to leverage the growth of your net worth. I purchased a property in 2008 at a distress sale (although the property was in good condition) and financed it with 20% down with a 15 year mortgage The monthly PITI mortgage payment is approximately $1250/month and I initially rented for $1,400/month and after a couple of rent increases, the rent is now $1650 per month. The property has been rented the entire time I have owned it with the exception of one month on three separate occasions when tenants moved at the end of the lease and I had to get a new tenant. When the loan is paid of in 2023, the entire loan balance with the exception of a handful of payments will have been paid off with someone else's (the tenants') funds....you can't beat that...and I will eventually end up owning a house in which only 20% of the purchase price was paid by my own funds., nor will I borrow money to buy investment property.