Anyone trying to Invest in something?
- Thread starter MaryJane
- Start date
[ame="http://www.youtube.com/watch?v=tZhWB0Kh-3s"]YouTube - Da Luniz - I Got 5 On It[/ame]
I'm in
I'm in
BUT all those other builders are big corporations with budgets, credit lines, and obvious business skills. This posters dad doesn't have any of those things holding him back.
Just needs your money to make it big in a depressed and failing market that apparently has another bubble burst around the corner before the world ends in 2012.
Just needs your money to make it big in a depressed and failing market that apparently has another bubble burst around the corner before the world ends in 2012.
I did the exact same thing you are trying to do (as well as my colleges) back in the 'boom' days. We dealt with low income, as you will probably as well. There is no way you can do it now, try and get some nigger working at KFC a loan to buy your houses. 2 years pay stubs, good credit, money down, it will rarely, if ever happen. It only works when the money flows like water and property values go up 10% every month.
As a agent & investor , I know there's plenty of money to be had in real estate even in the downtrend. However the money is NOT in building!
Where's the money you ask? How about buying beach-front condos for $25k a pop?
Where's the money you ask? How about buying beach-front condos for $25k a pop?
You don't post any numbers. I do mostly real estate these days and have bought almost 100 houses in the last 3 years.
The one I just got an offer accepted on today. 1,500 sq ft 2004 built house for $65,000. That is $43/sq ft. Ask your dad how much it would cost a sq ft to build a new house? In my area it is $80-$100/sq ft minimum. That doesn't include the cost of the land, the cost to sell the property.
Do some research:
#1 what a lot costs
#2 what a new house sells for
Come back when you provide evidence on how you can make an profit and pay people a rate of return in correlation to their risk.
The only place I could see it working is in higher end areas where the values per sq ft are $250+. The problem is lots are expensive in those areas and if there is a profit to be made builders are still building there.
On top of that the proposition you posted sucks, if you fail the investor holds all the risk. Plus I assume you would expect for your dad to get paid for his time upfront.
The one I just got an offer accepted on today. 1,500 sq ft 2004 built house for $65,000. That is $43/sq ft. Ask your dad how much it would cost a sq ft to build a new house? In my area it is $80-$100/sq ft minimum. That doesn't include the cost of the land, the cost to sell the property.
Do some research:
#1 what a lot costs
#2 what a new house sells for
Come back when you provide evidence on how you can make an profit and pay people a rate of return in correlation to their risk.
The only place I could see it working is in higher end areas where the values per sq ft are $250+. The problem is lots are expensive in those areas and if there is a profit to be made builders are still building there.
On top of that the proposition you posted sucks, if you fail the investor holds all the risk. Plus I assume you would expect for your dad to get paid for his time upfront.