- SubzeroMember@subzeroJoin Date: 2009Post Count: 6
I was wondering if some experienced property investors could help me with the following:
I am looking for the fastest ways to make money in real estate investing. Could you give me your experiences in how fast you were able to make the profit and the method used to produce the results. I am looking for at least a half a dozen or so different ways so I have some options. By the way I have impaired credit and only a small amount of money, so nothing to lose really and everything to gain. Anyone got some great ideas???
Impaired credit and little money will not stop me from becoming successful.BrisbaneAndyParticipant@brisbaneandyJoin Date: 2009Post Count: 45
Well my advice would be to turn around and ask how to make money slowly and consistently with property but that's just my 2c. Most of the methods available to make money quickly in property unfortunately will also include a high risk of you having even worse credit and even less money!
Although to answer your question my quickest profit was just buying a 2brm apartment in Brisbane; inspected the property at noon, gave a first-and-final offer at 12:05 and told them they had till 5pm to accept. By that night I had bought a property that was $50k under what it's neighbor would sell for 3 weeks later. I needed a place to live fast as I had just broken up with my partner but I didn't let that influence me into paying too much or giving up the power in the negotiations.
Not sure how quickly you want to make money but $50k equity in 3 weeks was good enough for me
Hope that helps a little bit,
AndyTerrywParticipant@terrywJoin Date: 2001Post Count: 15,850Ryan McLeanParticipant@ryan-mcleanJoin Date: 2010Post Count: 547
Wow people don’t seem to be giving out much information in this post.
There are loads of ways to make money quickly in property. One way is to buy, subdivide and sell both blocks. Or you could buy, subdivide and sell one block and keep the other. This generally takes about 12 months though.
Another way is to buy under valued and flip the property for a profit.
You could buy land, build town houses or apartments and sell them off.
You could buy units that are still under one title, split them into torrens titled and sell them off separately.
Hope that helps. If you want long term help finding positive cashflow properties then check out my site
Positive Cash Flow Properties Are Just A Click AwayDWolfeParticipant@dwolfeJoin Date: 2009Post Count: 1,253
Ryan you need to take a breath LOL!
If someone wants to come on the forum and say "Hey I need a get rich quick scheme! Whaddya got?" Then they kinda deserve one word answer. There are plenty of ways to invest in property and make a buck but that is what doing your own homework and research is all about not someone holding your hand while you do nothing.
DfWordParticipant@fwordJoin Date: 2009Post Count: 471
I wouldn't know of a way to make money quickly in RE without having money in the first place. Either that, or you gotta be lucky and quick in a rising market to be able to flip for profit. In this case then a better way of rephrasing things is 'There's everything to lose but a heck of a lot to gain also if you're patient enough.'
It's the same as going up to an experienced doctor and asking him 'What's the quickest way to gain experience?'
Good things take time. And while I don't agree that 'good things only come to those who wait', I'm a firm believer in doing the hard yards, getting smart and having adequate knowledge before getting started in anything. When money is involved, be careful. Where greed is involved, be very, very, bloody careful.Property TraderParticipant@property-traderJoin Date: 2002Post Count: 111
Love your question … Why crawl like a snail when you can sprint like a cheater. I have done well over 100 property transactions and the ones we like are …
1. Acquire properties under valued and flip the property for a quick profit (30 – 60 day time frame)
2. Buy, Fix and Sell (Renos) for a quick profit (150 – 180 day time frame).
Now in saying that … you now need to read (Steve McKnight's new revised book), research to find out how to do these types of transaction well and then set yourself up to do them with resources (funding requirements etc) and a team around you.
All the bestRyan McLeanParticipant@ryan-mcleanJoin Date: 2010Post Count: 547
@ DWolfe – I do agree with you. People coming onto a forum like this and asking “How can I get rich quick?” deserve one work answers. The interesting thing is that even if you told them an EXACT method for getting rich quick in property they probably won’t do it. It still requires study and hard work, which most people wanting to get rich quick aren’t willing to do….yet they are willing to work 9-5 in a job they hate….go figure.
At the end of the day you need to have your own investment strategy that you can focus on to achieve results. There are quick ways to make money, if you are dedicated enough. Asking “How to get rich quick?” in a forum as broad as this one doesn’t show dedication to me
Still I like to throw out a decent response and get the conversation going
Positive Cash Flow Properties Are Just a Click AwaykokjhoonwongMember@kokjhoonwongJoin Date: 2005Post Count: 23
Hi Ryan, your website looks cool and I am interested. Just wondering whether you also include factoring in the vacancy and additional information such as nearby large development. As I noticed that sometimes, positive cash flow properties are found in areas that are dying and vacancy is really high especially in the rural area.
You must be logged in to reply to this topic.