With respect to #4... depends on the property.
If you buy a crapload of expensive cars, yeah. That's pissing money away.
But if you buy an office building or three and hire a management company to keep them full of tenants, you can make a LOT of money on rents, even after paying 10% to the management company. Turn around and sell it in 10-15 years and the capital gains make it well worth the investment.
It's the shady brokers you have to be aware of. Do your due diligence and don't overpay. And if sounds too good to be true, it usually is. The fact is, the internet makes researching these buildings so simple. You can type the address into a site like Zillow and get a bunch of comps in just a few seconds, so you should have an idea of what you should pay for a given property.
|
(
In response to this post by HWA)
Posted: 01/12/2018 at 4:49PM