Posted by bob davis on June 21, 2009 at 11:41:20:
Life savings is not extra cash. Find way to use someone elses money. There are losts of private lenders out there and depending on your track record, several options of obtaining cash without risking your own.
need help to buy real estate - Posted by Jeff
Posted by Jeff on June 19, 2009 at 02:12:21:
hello,
I have extra cash and would like to invest in real eastate. I am new to this, never own or deal with real estate. let put some numbers annd ideas.
I have about 300k my life saving, this is cash on hand. I know leaving the in saving account is not making me anything. so I decide to adnnanture real estates. I have friend of mine who work in construction and he have good experience fixing drywalls, roofs and estimate damage.
we found appartment building in decent area that have 5 front stores and 12 appartments that have monthly income of 6000 USD. the asking price is 299k. the building built in 1920 but well maint. it is fully occupied. the reason of sell is the corporate which own many oporoperty found itself loosing because the overhead expansis.
the other option is buy houses for cheap, fix them and rent them. I am kind lost between the diffrent between the two ideas. I need to know which one is making better money and what is the risk.
thanks