A lot of questions about real estate.?
I have thought about getting into the real estate business, and I have been doing a lot of researching. But I still have questions.
First, is real estate investing really worth it? By real estate investing I mean, buying homes, fixing them up, and flipping them, and then reselling them. Real estate investing has always been very interesting to me. But is it really worth fixing up homes and reselling them? It seems like a real big hassle, especially if there was a lot of structural damage. That starts costing a lot of money.
If I was to get into real estate investing, would buying foreclosed homes be the best way to go?
I was also interested in commercial real estate. I always thought it would be cool to own a shopping center. Is there a big market in commercial real estate? Is it hard to get into?
In my area, land is a big deal. I was talking with my criminal justice teacher, and he was telling us how his dad had bought a mountain side, for around 1 million. He then sold the lumber to a company and made around another million for that, then he turned around and sold that same mountain side for around 2 million. After everything was said and done, he made 2 million dollars in profit, which sounds pretty good to me. I think now, that land has been lotted off and being made into a housing development. What kind of real estate/real estate investing would this be considered? I know it’s Land, but is there a special name for it?
Thanks for the help in advance.