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Updated over 11 years ago,
First time investor
Hello all or any who can be helpful to me. I am planning on getting out of the ARMY in about a year. I will have approximately $25,000 saved for investing in real estate. I originally was going to go the route of buying a property in order to rent out and use the $25,000 for expenses and down payment, however, after watching some shows like "income properties" and another show on flipping houses, I came to the conclusion that flipping houses will get me the money I need much quicker so that I can invest in larger apartment buildings which is my final goal for retirement.
My question is; Where do I find a group (in NC) to help mentor me in flipping houses. And how could I best use my $25,000 on my first project. I would like to do this for a living so anyone else who is out there making good progress flipping houses, please give me some advice. Mainly, how to spend this $25,000 to begin with. I will need the following:
down payment on house
mortgage
construction loan
staging the property
money for utilities, taxes, insurance
what else?
I am wanting to be success for this so no short cuts. Also I will not be doing the construction myself for the renovation/rehab, I would definitely hire a professional contractor and interior designer.
Thanks in advance,
CJ Miles