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Updated almost 8 years ago,
Knowing when it's a good dean and how to buy
Hello, my question today is how to know when there's a good deal that will bring profit and how to get the finances to purchase it. I'm 19 years old, only have 4K saved, but i really want to invest in properties to either flip or rent them out. My dad says I'm too young yet to get into investing in real estate, from a professional standpoint, is that true? I listen to the bigger pockets podcasts all day while I'm at work and I've also read the rich dad poor dad book which really motivated me to get started. Even though I don't have the finances I still check Craigslist and Trulia daily looking for good deals. Like right now I saw this deal which includes a 4-plex and 3 bedroom home for 160k. If i had the money I'd like to say I'd flip the 3br house and sell it and then like in one of the units in the 4-plex while I rent out the other. I don't want to say I can't do it. That's why I'd rather ask for advice from an investor on how I can achieve purchasing something like that or any good deal out there. I'd really appreciate anyone's advice. I just feel stuck at the moment, like I can't really do anything to pursue my goal because of my age of financial situation. Thank you for you time.