Getting started in real estate investment

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From: Mickey Wong


Hi everyone,

The newbie board seems a bit slow with no replies so I had to post here to get some feedback.

I'm a 21 year old newbie from Melbourne, and I've just got myself into real estate. I've just graduated and working part time therefore lack capital or credit. I am thinking of using quick flips (option to purchase) on real estate about 70% of FMV and below by way of looking for motivated sellers and selling the option to investors or getting a partner. This is just to get started with building capital and experience. Also calling out for sale owners and doing research and inspections in nominated suburbs.

Question, are there any other strategies I could use in order to purchase and build capital?

Just need some feedback from experienced investors and wanting to get more options and strategies for investment in real estate with low capital and finance.

Thanks for your time.
Cheers,
Mickey Wong
bixantine@hotmail.com
 
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Reply: 1
From: Rolf Latham


Hi Mickey

Motivated and option tend not to go together I would have thought.

If someone is motivated they usually want to settle like yesterday.

I suppose you can get aorund this by having a bank of buyesr ready to take over the option within hours of securing it.

Ta

Ta

Rolf
 
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