real estate tax payment
How do you make money in real estate without flipping?
I’m new at this…but it just seems so impossible to make any money in real estate. You have to pay for loan of the down payment, the property tax, insurance and mortgage……renting it out is not enough to cover the entire cost of all these components. The only way I can see making money is by it appreciating in value over time. Will the rent ever exceed these other costs…is it worth holding on to and putting your own money in? How do people buy 20 houses? I just want to know. Thanks for your input!
To explain to you simply. People that buy 20 houses are investors! That’s what they do for a living! The ones that flip homes do it when the market is good for it! But there’s no market for that now! However, there are those who do this for a living that maintains their flow of property sales, right? The difference between those and the “flippers” is this! The “investors” buy fixer uppers! They have hard money lenders who will lend on the distressed property at a ridiculous rate. But that’s OK, because these investors do not intend to have the loan that long anyway. 2, 3 months tops? So, they buy it cheap, fix it up, then sell it at a much higher value! And That’s how they make their profit
The flippers on the other hand, buy to sell based on time value! What they bought for $100,000 will be worth $150,000 in 3 month.
It’s only considered a “flip”, if you sell and make a profit on a property that had no improvements done to justify for the increase of value!
In terms of rent, yes, you can have good cash flow. It depends on the loan you have against the rental property!
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