Posted by Rob FL on December 27, 1999 at 21:03:12:
Ron LeGrand says not to get into landlording your first year in business.
I started as a landlord and admit it ain’t that easy. There is a lot of profit to be made though. Monthly cashflow is wonderful.
Looking for info sources and advice, New to the Game! - Posted by Ed F
Posted by Ed F on December 21, 1999 at 20:59:18:
Dear Friends,
I and my partner are exploring the possibility of investing in real estate. We are both electricians with combined experience in excess of 15 years. We are looking to expand our business, have reasonable capital reserves, a long standing relationship with our bank and are now in need of any advice that can be helpful. Good info sites on the web and general recommendations would be ideal. For starters, would it be better to concentrate on remodel/resale, or are rentals the way to go? If renting, are land contracts a good idea? I realize that this is an enormous subject, but any genuine advice would be greatly appreciated.
Sincerely,
Ed F
Re: Looking for info sources and advice, New to the Game! - Posted by Rob FL
Posted by Rob FL on December 23, 1999 at 20:14:00:
It depends on your objectives. If you need cash now, you probably should look into flipping, lease options, or mobile homes – Lonnie deals. If you already have some decent cash reserves you may want to get into the bigger projects like rehabbing. If you want cashflow you can go for lease options or rentals.
Look around the site at the How to Articles and Success Stories to get some ideas.
Re: Looking for info sources and advice, New to the Game! - Posted by Ed F
Posted by Ed F on December 27, 1999 at 15:57:08:
Thanks for the advice Rob. What we were thinking of doing was accumulating rentals and developing a seperate business and a holding company to contain both the electrical business and the rental business. Do you think the headaches of being a landlord are worth it? We aren’t looking for instant profit, rather we are looking long term cash flow.