Comments on: Getting Started in Real Estate Investing http://www.mydollarplan.com/getting-started-in-real-estate-investing/ because money doesn't grow on trees Thu, 09 Feb 2012 14:28:55 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Mark http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-15150 Mark Thu, 02 Sep 2010 08:45:56 +0000 http://www.mydollarplan.com/?p=796#comment-15150 Real estate investing or any other investing for that matter is not scary or risky if you know what you are doing. The bottom line, is before you do any investing you should learn about what you are investing in before you invest in it. Real estate investing or any other investing for that matter is not scary or risky if you know what you are doing. The bottom line, is before you do any investing you should learn about what you are investing in before you invest in it.

]]> By: Eric http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-15046 Eric Tue, 31 Aug 2010 17:58:28 +0000 http://www.mydollarplan.com/?p=796#comment-15046 Charging higher-than-market rent on a lease option is a good business decision and is legally and ethically justified (subject to some local variations) if the excess money is credited as option money. Some sellers opt to charge just the fair rental value so that only the initial option money is credited toward the purchase. Still another variation is to charge fair rental value and credit a portion of this toward the option. This is a great deal for the buyer, but can lead to complications with financing later, so you should check with your real estate agent or loan officer for details. Charging higher-than-market rent on a lease option is a good business decision and is legally and ethically justified (subject to some local variations) if the excess money is credited as option money. Some sellers opt to charge just the fair rental value so that only the initial option money is credited toward the purchase. Still another variation is to charge fair rental value and credit a portion of this toward the option. This is a great deal for the buyer, but can lead to complications with financing later, so you should check with your real estate agent or loan officer for details.

]]> By: Motivated Sellers http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-13983 Motivated Sellers Sat, 07 Aug 2010 02:46:26 +0000 http://www.mydollarplan.com/?p=796#comment-13983 There is very little risk in investing in real estate when you use creative real estate investing strategies such as lease options, wholesaling, seller financing and short sales. These type of real estate investing strategies require very little cash but the key to doing them is your ability to find motivated sellers. There is very little risk in investing in real estate when you use creative real estate investing strategies such as lease options, wholesaling, seller financing and short sales.

These type of real estate investing strategies require very little cash but the key to doing them is your ability to find motivated sellers.

]]> By: HIB http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-8223 HIB Mon, 06 Apr 2009 17:29:07 +0000 http://www.mydollarplan.com/?p=796#comment-8223 A lot of the common themes I've seen throughout the post see to stem from people problems (landlords having issues with tenants). That's not a problem if you accept the right tenent. Best of luck with you real estate investing! -Dustin A lot of the common themes I’ve seen throughout the post see to stem from people problems (landlords having issues with tenants). That’s not a problem if you accept the right tenent.

Best of luck with you real estate investing!
-Dustin

]]> By: Real Estate Investing: Is Now The Time? | Frugal Real Estate http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-8078 Real Estate Investing: Is Now The Time? | Frugal Real Estate Wed, 25 Mar 2009 13:37:02 +0000 http://www.mydollarplan.com/?p=796#comment-8078 [...] over at My Dollar Plan, recently shared some reader thoughts on real estate investing, as it appears her and her husband might be venturing into the world of becoming landlords. I [...]

[...] over at My Dollar Plan, recently shared some reader thoughts on real estate investing, as it appears her and her husband might be venturing into the world of becoming landlords. I [...]

]]> By: MyBarnabas : T.G.I.S.: The End Is Near Edition http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-8044 MyBarnabas : T.G.I.S.: The End Is Near Edition Mon, 23 Mar 2009 00:19:56 +0000 http://www.mydollarplan.com/?p=796#comment-8044 [...] Getting Started in Real Estate Investing is something that I am looking to get more into after I retire at 25. [...]

[...] Getting Started in Real Estate Investing is something that I am looking to get more into after I retire at 25. [...]

]]> By: Weekly Roundup - March Madness Edition | Start Living Frugal http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-8001 Weekly Roundup - March Madness Edition | Start Living Frugal Thu, 19 Mar 2009 11:20:49 +0000 http://www.mydollarplan.com/?p=796#comment-8001 [...] Getting Started In Real Estate Investing [...]

[...] Getting Started In Real Estate Investing [...]

]]> By: Weekly Roundup - March Madness Edition | Start Living Frugal http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-8002 Weekly Roundup - March Madness Edition | Start Living Frugal Thu, 19 Mar 2009 11:20:49 +0000 http://www.mydollarplan.com/?p=796#comment-8002 [...] Getting Started In Real Estate Investing [...]

[...] Getting Started In Real Estate Investing [...]

]]> By: Weekly Roundup - March Madness Edition | Frugal Dad http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-8000 Weekly Roundup - March Madness Edition | Frugal Dad Thu, 19 Mar 2009 10:01:24 +0000 http://www.mydollarplan.com/?p=796#comment-8000 [...] Getting Started In Real Estate Investing [...]

[...] Getting Started In Real Estate Investing [...]

]]> By: Reality Show Casting Call For Wife Swap, Want To Earn $20,000? http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-7999 Reality Show Casting Call For Wife Swap, Want To Earn $20,000? Thu, 19 Mar 2009 02:45:16 +0000 http://www.mydollarplan.com/?p=796#comment-7999 [...] My Dollar Plan: Getting Started In Real Estate Investing [...]

[...] My Dollar Plan: Getting Started In Real Estate Investing [...]

]]> By: Weekend Round Up- Selection Sunday Edition | Good Financial Cents http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-7964 Weekend Round Up- Selection Sunday Edition | Good Financial Cents Mon, 16 Mar 2009 18:07:49 +0000 http://www.mydollarplan.com/?p=796#comment-7964 [...] Getting Started in Real Estate Investing [...]

[...] Getting Started in Real Estate Investing [...]

]]> By: Sunday Money Roundup - The Snow Is Back Edition. | My Two Dollars http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-7949 Sunday Money Roundup - The Snow Is Back Edition. | My Two Dollars Sun, 15 Mar 2009 13:01:33 +0000 http://www.mydollarplan.com/?p=796#comment-7949 [...] My Dollar Plan teaches you how to get started in real estate investing. [...]

[...] My Dollar Plan teaches you how to get started in real estate investing. [...]

]]> By: Roundup and Link Love - Short Weekend Edition | The Wisdom Journal http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-7943 Roundup and Link Love - Short Weekend Edition | The Wisdom Journal Sun, 15 Mar 2009 00:51:31 +0000 http://www.mydollarplan.com/?p=796#comment-7943 [...] at My Dollar Plan is getting started in real estate investing. I heard that some homes in Detroit were selling for less than a soft drink at the cafeteria so [...]

[...] at My Dollar Plan is getting started in real estate investing. I heard that some homes in Detroit were selling for less than a soft drink at the cafeteria so [...]

]]> By: Quinton http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-7934 Quinton Fri, 13 Mar 2009 17:45:57 +0000 http://www.mydollarplan.com/?p=796#comment-7934 Please make sure that you take someone along who has the ability to checkout any property from a physical standpoint. If you know finance, as I did, that is one part of the equation down. But, the property MOST likely will need repairs/upgrades (If it has been a rental before.) When I got started, I lost about $5,000 from my evaluation due to roof and misc problems. This caused me to barely break even on the property versus earning $100 profit per month. (before any tax benefits.) Please make sure that you take someone along who has the ability to checkout any property from a physical standpoint.

If you know finance, as I did, that is one part of the equation down.

But, the property MOST likely will need repairs/upgrades (If it has been a rental before.)

When I got started, I lost about $5,000 from my evaluation due to roof and misc problems.

This caused me to barely break even on the property versus earning $100 profit per month. (before any tax benefits.)

]]> By: Andy http://www.mydollarplan.com/getting-started-in-real-estate-investing/#comment-7925 Andy Fri, 13 Mar 2009 13:20:33 +0000 http://www.mydollarplan.com/?p=796#comment-7925 On the preperty analyzer spreadsheet, the tax rate used is for a single filer in 2001. Depending on what happens to the sunset provision of the 2001 tax relief act in 2010, this could be a good thing in that it predicts the near term change or a bad thing in that it underestimates the profitability if the tax rates are kept where they are now.. On the preperty analyzer spreadsheet, the tax rate used is for a single filer in 2001. Depending on what happens to the sunset provision of the 2001 tax relief act in 2010, this could be a good thing in that it predicts the near term change or a bad thing in that it underestimates the profitability if the tax rates are kept where they are now..

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