Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago,
How do people get started in property development with a mortgage
Hi Guys,
Let me start by saying I'm very new to this, but i am finding it very interesting!
So my question: I've been doing research online and have absolutely no idea how people start property development with a mortgage. Everybody makes it seem like a great idea, but they do not explain how they get started. Do they live in their first house that they purchased, renovate and then use the profits to purchase two houses, renting out the second? Currently, i do not own any houses, i have been approved for a mortgage and i do have a nice amount saved up. Any advise from somebody who has done this from experience would be a great help. At the moment I just have absolutely no idea where to begin and everything I've read seems to just say that they purchased their first house and then they are in the next stage.
Many thanks, Tom