I never had any interest in money until realizing I couldn't survive in the corporate world. Im trying to get started in real estate with 150k. I've been reading up, but the information is endless. My first thought is to flip houses, build up a bit more capital, and then transition to rentals (or maybe REITs?).
Cheap properties near me are mostly around 300k. I can buy manufactured homes for 50-80k, but I haven't looked into whether those things can be flipped yet. Since I don't have a job, I doubt I can get a mortgage so that leaves auctions, maybe? Someone in my family with lots of experience is willing to help me learn how to flip, but I need to make the initial deal.
Any tips?
I’m not sure where you are situated or market, however 2 years ago I relocated 2 weatherboard homes onto vacant land in a cheap area.
Approach people who are looking to knock down their old homes and offer them next to nothing to take it of their hands, provided it’s on stumps and weatherboard.
Most times you can get a house for under 10k or even free if you’re lucky. Relocated the house onto land purchased, set some money aside for renovations and you could come out with a hefty profit margin if you pay attention to costs and market.
