- JadeParticipant@jadekhJoin Date: 2017Post Count: 5
Thanks for looking at my thread.
I’v just begin my property investment education and am looking for mentors who would be willing to mentor me on property investment. Initially I would like to begin with flipping and then moving on to buy and hold. Any mentoring would be much appreciated.
Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396
- This topic was modified 3 years, 6 months ago by Jade.
Flipping at the moment can be very risky. Did you want to start with flipping to get enough deposits for your buy and hold properties? Most investors start with buy and hold then move to flipping as their borrowing power dries up.
I’d personally just look at buying undervalued properties with renovation potential. Try and draw out equity and move onto the second and then third etc.
Plenty of people out there that could help mentor you. Sites like these are great for information and inspiration. Head to the local library and get as many books as you can.
Best of luck!Corey BattParticipant@cjaysaJoin Date: 2012Post Count: 1,010
Tony has hit the nail on the head – flipping in Australia is seldom profitable, and is a step backwards from a renovation-revaluation strategy which allows you to grow your net worth quicker without losing a significant amount of profit each time to fees, taxes etc. I’ve written about this previously here: http://www.precisionfunding.com.au/11366/JadeParticipant@jadekhJoin Date: 2017Post Count: 5
Thanks Tony for your feed back. Yes, I was looking to do some flips to get some capital under my belt. That and its just personally appeals to me. Could you explain what you feel the risks are with flipping at the moment.
Thanks Corey, Ill check out the link. Is is not profitable because their isn’t enough margin in the Australian marker for flipping?
You guys are awesome. Thanks