I could use a little advice from the experienced ones :)

[alfonzomarroquin]

Hi everyone. I'm looking for some advice. A very very quick summary of my situation:

I decided to accept a job offer in Miami which will allow me to save an average of 20,000 every year. I was thinking that I don't wanna just put that money in savings account. I wanna invest it in real estate.

My initial idea was to find a property for around 80,000/100,000 put 15,000 down and rent it. I was thinking mostly Apartments or Townhouses.

Can anyone give me advice on my plan, or even how would you invest that money every year if you were in my shoes.

Thanks everyone!!!

[PTILoveYou]

Hi everyone. I'm looking for some advice. A very very quick summary of my situation:

I decided to accept a job offer in Miami which will allow me to save an average of 20,000 every year. I was thinking that I don't wanna just put that money in savings account. I wanna invest it in real estate.

My initial idea was to find a property for around 80,000/100,000 put 15,000 down and rent it. I was thinking mostly Apartments or Townhouses.

Can anyone give me advice on my plan, or even how would you invest that money every year if you were in my shoes.

Thanks everyone!!!

I would strongly recommend you get some financial education, ie reading Rich Dad poor dad book series by Robert Kiyosaki.

That will give you a better idea what to do in real estate.

[jackson016]

Firstly Check your credit report.
Find a good bank or mortgage broker
Talk to investors about local real estate

[Dood]

Education education education

cannot stress that enough

keep the money aside and obtain the right level of confidence first

then go all guns and blazing

[Donni]

If you are in Miami, I would try to get hands on oceanfront real estate and rent it to people on holidays week by week. You will have more work managing this, of course, but you can rent it at higher prices. You have to calculate unoccupied weeks from time to time, but the higher rent will make up for that.

[eri]

ocean levels are rising

and will continue to do so

keep that in mind when

looking at waterfront

[Donni]

had to read your post twice, eri. I first thought you are talking about the price level for ocenafront buildings, but i think you are talking about the actual level of the water and you are talking about flooding properties. I agree on booth parts, but the later is not as certain. And also theres insurance against waterdamages.

[jacobholtz40]

According to you first check your credit details, find a good bank or mortgage broker and then talk to investors about local real estate.

[cube]

had to read your post twice, eri. I first thought you are talking about the price level for ocenafront buildings, but i think you are talking about the actual level of the water and you are talking about flooding properties. I agree on booth parts, but the later is not as certain. And also theres insurance against waterdamages.

If rising sea levels become a serious problem on the beach and waterfront properties, insurance against flooding will become impossible (or impossibly expensive) to get.

[jacobholtz]

I think, firstly you have to check your credit details, find a good bank or mortgage broker and then talk to investors about local real estate.