Why don't more people just take out a loan, buy an apartment building, hire a management company to take care of the tenant and building issues, and then live off of other people's rent checks while basically never working again?
because if you have the credit/references to do such a thing, chances are you're motivated to do more than just sit on your ass for the rest of your life.
>>1375921
i live in australia. i would need a loan of like 5 million just to buy the shittiest complex in the worst part of town. and thats excluding all other costs
>>1375924
/thread
A real catch 22 here OP
>>1375924
I think the bank's decision to give you the loan is actually based more on how likely it is the property will make money than it is on your own personal history or lack thereof with real estate.
>>1377091
You're right that's why so many idea guys have so many successful ventures.
>>1377255
kek
>>1375921
>It worked for Rich Piano in Texas in the 80s/90s so SURELY it will work for me in ____ in 2016
>>1377255
So what you're saying is I should try starting a business WITHOUT having ideas?
>>1375921
because most will never break even not in 20 years for sure.
it's bullshit.
>>1375921
>"All of these things will magically fall into place and money will just appear out of nowhere."
>>1375921
It sounds like you want to straight up cuck yourself OP
don't even bother with a house or an apartment, the market is there but there is no reason to try when Chads real state and developing will just make better apartments next to you and basically JUST you
instead try to buy some land, in an area that looks like its developing, wait some months and try to flip for 20%, if it works you've got yourself a deal right there, and you can move to a better area
if you can't flip it don't worry, turn it into something that require low investment, like a car wash, you can build your own car cash for cheap and then later on if you consider it you can build storehouses, literally the easiest thing to build, its just a fucking cube
if you do your research correctly you can easily doubled up the price of the land, and I'm talking already taking out cost of developing it
the question is, do you want to be the cuck that fell for the "just buy and rent apartment lolz" meme, where you have to make sure to keep up with maintenance and basically get cucked by Chad, or do you want to do things correctly?
