Making $$$ In Foreclosures.?
Question:
I live in Australia, finsihed school last year, and i want to get into property investing..foreclosures arent really my preffered way of making money from real estate, just it seems like instant cash flow, and easy compared to flipping, fixing up etc.
How should i go about starting out investing in real estate.. Ive learnt afair bit on investing, and ive been saving money since i was 10 so i got like 10k..in the bank..thanks
Answer:
The rules vary a great deal between different countries and potentially different states. You will need to become an expert on the real regulations in your area and the market practices. Assume that professionals should know but some of the time you can find deals if you really understand the fine details.
You said you do not think of foreclosures as your preferred focus. What about foreclosures turns you off? What would you prefer? Potentially it would be better to focus there and just adjust your timeframe rather than focusing on foreclosures if your heart is not into it.
There are so many foreclosures taking place in western Sydney. I'd recommend that you find a job with one of the real estate companies out in westie and learn the ins and outs.
At the same time, I'd recommend some resources to you e.g Trump University online courses in real estate investing, as well as some of Robert Kiyosaki's real estate investing books. I'm an investor and some of their resources have helped me along the way. Also, try and get yourself some successful real estate investors to mentor you. Check the websites below for more resources and info.
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