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Updated almost 8 years ago on . Most recent reply

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18
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1
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Alexander Quan
  • Real Estate Agent
  • Irvine, CA
1
Votes |
18
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Need advice on what route I should take, please!

Alexander Quan
  • Real Estate Agent
  • Irvine, CA
Posted
Hi Bigger Pockets world, I'm not sure if anyone will read this however, here goes. I have been following the BP podcasts and have listened to 17 episodes and so I joined the site. My market is Southern California. I am a full time Real Estate agent having closed a few deals, while starting late last year. Here is what I have planned to do or our options that we have: My fiancé was approved for at least $550k, as she is a pharmacist so her W2 is very useful for us to get started. We do not want to purchase a home for us to live as we can still live with our parents (lucky and not so lucky). I really want to start investing now while I'm closing deals as a full time agent. I just am not sure if we should flip or hold? Or should we consider both if the right deal comes together? What would you do if you were us? You are preapproved for a loan and don't really have any debts. I should also add that my uncle is the reason why I would go into investing because he has been investing for 30 years and has accumulated a lot of hold properties from trustee sales. I have a home that we are going to take a look at tomorrow because this person wants to sell but if he can avoid listing then we can buy it from him. I just don't know if I should consider flipping or holding? I'm sorry, I'm prob all over the place. What should I focus my efforts on? My main goal is to buy and hold and create long term wealth by accumulating 100 properties. Eventually just buy cash at trustee sale. Thoughts?

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1,209
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Ralph R.
  • Investor
  • Bethel, AK
851
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1,209
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Ralph R.
  • Investor
  • Bethel, AK
Replied

@Alexander Quan well good luck. REI takes time. No place to make hurried decisions here. RR

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