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Advice from a successful real estate investor November 28, 2006

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.”

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Comments»

1. buygold - November 29, 2006

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.

2. Galen - November 29, 2006

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/

3. Phil Hoover - November 29, 2006

Well, there’s always that old standby real estate advice:
“Get a lot while you’re young!”.
(sorry, just couldn’t help myself Galen :)

4. Real Central VA - Tracking the Charlottesville and Central VA real estate market and more » Wednesday links 11-19-2006 - November 29, 2006

[...] Advice from a successful real estate investor (hat tip: RCG) [...]

5. Galen - November 29, 2006

Phil, are you sure that is real estate advice?

6. Phil Hoover - November 30, 2006

You should realize by now that I’m just a lil warped, Galen :)