Re: What is safe in Real Estate? - Posted by GL(ON)
Posted by GL(ON) on July 09, 2002 at 09:51:42:
Probably the safest, most conservative way to invest is simply to own your own home.
If you feel like going a little farther,buy a duplex or other rental property.
Buy only property that will give you a positive cash flow, that is in a decent stable neighborhood, where you would not mind owning it for the next 10 or 20 years.
The way to get bargains is to buy from owners who are anxious to get out and are not profit motivated. If the place needs a little fixing up that can result in a large reduction in price, more than enough to compensate you to do the fix up work.
If you keep your eyes open for good deals of this type, you can slowly accumulate property and build up a substantial net worth without ever getting in over your head.
This very old fashioned but safe.