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Updated about 7 years ago, 10/09/2017
Best type of Real estate investment for a young person
Hi There,
I am 27 years old and I want to continue in investing in real estate. I started investing in the stock market when I was about 17 and have done well. I made enough money to buy my first house one year ago.
I still don't trust where the market is going so I wanted to try out some more real estate investing. I have a lot of questions and some may seem general but I have to start somewhere. My stock investing "strategy" was buy and hold. I feel at my age it would the make the most sence for me in real estate. The single family houses in my area (which is victoria canada) are expensive compared to the rest of country and the U.S.
Ave. house price would be around $550,000. As of this moment it is a buyers market. I don't have enough money (I may not also want to put much down) to buy another house so I would have to finance it.
What is the best strategy for me?
Buy and hold, flip, commercial. Also to get into a deal with a partner.
Thanks,