Real estate discussion on a non-real estate blog (it’s rare).
My biggest complaint with the advice would be the lack of specifics: “get started now: is not meaningful advice. Better advice would be “Buy properties on the edges of gentrifying areas with a rent-to-cost ratio of X.”
You’re correct Galen. It would be nearly impossible to buy anything within 50 miles of here for better than a 5 or 6 CAP rate.
At some point that advice would be totally warranted.
Thanks buygold. I think 5 or 6 well below the historical average – try 8 or 9. http://www.bdo.com/about/publications/industry/re_fall03/
Well, there’s always that old standby real estate advice:
“Get a lot while you’re young!”.
(sorry, just couldn’t help myself Galen 🙂
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Phil, are you sure that is real estate advice?
You should realize by now that I’m just a lil warped, Galen 🙂