If you want some real estate investing advice, here goes:
I see all of these shows on TV about flipping real estate. I also notice on many of the shows how the people get in way over their heads. Many of them end up breaking even or losing money. Professionals can make money, but they end up doing a lot of the work themselves, and already know how to do it. I also have friends who buy houses and rent them out. This is a nice way to pay off the principle, and in the end you own the house. Still alot of work. You have to deal with renters, and clogged toilets and stuff. Check out the movie Pacific Heights. That movie was more than enough to scare me off from becoming a landlord!
Okay, here is my Real Estate investing advice…invest in REITs. REIT stands for real estate investment trust. A REIT is a company that owns property and rents it out. They own appartment buildings, shopping malls, and even storage units. They do the work, and you get the money. They are the ones that manage the renters, and unclog the toilets. You never even have to see them. Over 90% of the profits are paid out in dividends. There are lots of REITs, and different REITs might have different holdings. One might specialize in shopping malls, and another in appartment buildings. I don’t directly buy any single REIT. I invest in a REIT index fund. It is an ETF under the symbol IYR. So my Real Estate investing advice is buy into a REIT index fund!