Is there a way to invest in real estate without a lot of money?

[gopunk]

and in a specific geographical region (like one metropolitan area)? because i don't have more than a couple thousand bucks, but i really think one area is going to grow a lot in the future, so i'd like to start investing in it. is there a way for me to do this? i know there are funds that invest in real estate in general, but just in one metropolitan area?

 

[conjur]

Those informercials seem to think so. And you don't even need good credit!

 

[MacBaine]

I made $10,000 on my first transaction, and by the end of the year I was making over $100,000 a month!

 

[XZeroII]

Give the money to me. I promise a large return in only 5 years.









(small print) Your interpretation of large may differ from our interpretation.

 

[gopunk]

bump... serious answers

 

Get loans.

Look into FHA, HUD and SONYMAE financing/foreclosures. Look at urban renewal areas that are given large grants by the govt.

 

[shenaniganz]

Don't know if it's exactly what you're looking for but what about REIT's (aka. Real Estate Investment Trusts) Google it to find out more. Also look here

 

[SSibalNom]

there are places in gang war zones in parts of detriot that HUD tries to get rid of for ~5k, or so i hear

 

[Hector13]

Originally posted by: shenaniganz
Don't know if it's exactly what you're looking for but what about REIT's (aka. Real Estate Investment Trusts) Google it to find out more. Also look here

REITs are what I would recommend as well. You can get ones that are localized to a certian area as well.

 

[Vic]

Buy a house to live in. The best low-down financing is always for owner-occupied. Plus, you gotta live somewhere anyway, right? Then, after a couple of years, buy another house to live in and keep the old one as a rental. Rinse and repeat every few years, buying a new one to live in every couple of years, and keeping all the old ones as rentals. The renters pay your mortgage payments which will eventually pay off the houses. And with rental properties, all of your expenses that exceed the amount of rent collected are a tax write-off (not a deduction, a write-off).
After 40 or so years, you will own quite a number of free-and-clear homes, that have been paid for by other people, that should have greatly appreciated in value, which you could sell or borrow against (and if you borrow against, the renters keep paying) to finance your retirement.

 

[GalvanizedYankee]

I have only done one purchase of a Fannie Mae house. Google Fannie Mae.
Ten years ago I bought a F/M house, 3.5% down, no PMI, no impounds, 5.75%interest.
The only hooker was I had to live there as my primary for two years(i think) before I
could sell or rent. I sold it after seven years. The houses that qualify are Federal
repos, they are not all in "bad" neighborhoods, some are failed GI loans others are
junk HUD houses. You must have a good credit rating. Do not get your heart set on one
particular house and over bid. Hope this helps...

 

[passivex]

While driving back from my trip to the Grand Canyon, I saw a post on the side of interstate 40 that says "30 acres of land for $43,000". This wasn't a joke! OMG...30 acres of land...can you see how vast 30 acres really is? and for less than 50K?!!! on an interstate freeway?! Man....if I had 50K I'd buy it. Start somekind of eCommerce company selling stuff that trucks travelling accross that route carry.

Wait...I just sold my BIG idea to becoming rich! Oh well...