Getting Started In The Real Estate Game

[Steven Leonardi]

Hi Guys , So im 21 and i have an ambition to get financially free in my life eventually. im really young and just want to get in the game, i have an okay knowledge on real estate investing but still have questions since i have yet to start my journey. Im currently in the marine corps and am thinking of purchasing a fix and flip off base with two other marines. The house is listed for 50,000 but sold in 2013 for 120k. the hurricane that came through in September messed alot of houses up. marines always relocate to this town from all over and its a constant cycle of marine coming in and out so selling it will be somewhat easy but the problem with this house is that it needs a lot of work , my main concern is the mold problem.  it has 3 beds and 2 bath , the kitchen needs remodeling , the bathroom needs work , and just overall everything needs work BUT im thinking if its 50,000 now and i high ball the repair cost to 40,000 thats still 90,000 and i assume if it sold for 120,000 at some point it can come to 120,000 again . me and my buddies are wanting to get into this property to get started and get our hands dirty to see what this is all about .im open to opinions and criticism i just need advice really .