Need some help. I'm just 20

[Iani Piha]

Hello, my father's keep talking about this subject because someone told him how nice this subject with flipping houses is when you're smart and paying attention at the market. The difference is that he's focusing just on flipping and I would rather go on Rental Properties because I realise on a long term how much money you can create

I'm so so glad and happy for finding this app because I read and learn so much intersting things. I hope you guys will guide me to take it step-by-step because even if I have big plans like:

- in a few months I want to become a realtor

- by the end of the year (2019) I want to have already my first passive income from a rental property

The big questions is: I heard something about "Lease Purchasing" without downpayment or any money but in my case it's hard to do that because I'm too young for people to trust that I know what I do and just transfer me their houses. And if there is a way to have a rental property without having money.

Please help a young guy with some big big dreams. Thank you even if you won't answer me but at least read my story 📈🏘🏡🏢

[Account Closed]

Hey Iani, great to see your motivation to get started in real estate.  I think you're correct to focus on rentals long-term, rather than flipping.  There are plenty of people who do well in flipping, but there are a few reasons why this might not be the best option for you at the moment:

- You can lose your shirt if you don't know what you're doing

- You'll need enough capital to both buy the house and also fix it up

- The market is starting to soften, so flips may not be as easy to sell as they would be in a very strong market

If your goal is to start off with one property in 2019, one great option for you might be to combine the concepts of flipping and house-hacking.  If you can save up (and possibly borrow from/partner with friends or family) to buy a 2-4 unit property that's rentable in its existing condition, you can live in and fix up one unit while the others are rented out.  Every 6 months or so, move into another unit, fix it up, and raise the rents in the unit(s) you've already improved.  When you're done, you'll have a much more valuable asset, and you'll have been living "rent free" the whole time.  Good luck!