IWannaFastlane
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- Joined
- Dec 2, 2015
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So I have $60K just sitting in the bank. Took a few years to save it but after reading TMF and finding this forum, I realize I need to be investing in something, not just saving.
I have no experience in Real Estate. But, I do have 2 acres of land in a city where rental houses are occupied the day they come on the market.
I watch this one guy build houses all over the city and they have renters moving in the day the properties are finished. Rentals in my area go for well over $1,000 a month for crappy ones. (I was looking at renting, but bought a house).
I thought to myself. I have 2 acres of land in walking distance of the schools and shopping. Surely I could subdivide that into .25 acre plots and build 8 rental houses... or 8 duplex style rental houses that are modern and nice.
I have $60K that I can play with.
I have been browsing this forum since July and see Real Estate mentioned over and over again. I dont even read those posts because RE isnt something I was ever considering as a business. Now, I am indoctrinated into looking into this as an option.
Thoughts on my land and investment amount for building rental homes?
I have no experience in Real Estate. But, I do have 2 acres of land in a city where rental houses are occupied the day they come on the market.
I watch this one guy build houses all over the city and they have renters moving in the day the properties are finished. Rentals in my area go for well over $1,000 a month for crappy ones. (I was looking at renting, but bought a house).
I thought to myself. I have 2 acres of land in walking distance of the schools and shopping. Surely I could subdivide that into .25 acre plots and build 8 rental houses... or 8 duplex style rental houses that are modern and nice.
I have $60K that I can play with.
I have been browsing this forum since July and see Real Estate mentioned over and over again. I dont even read those posts because RE isnt something I was ever considering as a business. Now, I am indoctrinated into looking into this as an option.
Thoughts on my land and investment amount for building rental homes?
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