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Updated about 7 years ago on . Most recent reply

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19
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Taryn Lewis
  • Williamsport, PA
6
Votes |
19
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dont Know if I should wholesale or flip houses* newbie*

Taryn Lewis
  • Williamsport, PA
Posted

hi I’m new to real estate but after I read rich dad poor dad I knew this is something I wanted to do. I don’t have a lot of resources or help it’s just me I am a single mom with two children I have a significant other but he’s incarcerated at this time. My biggest fear is doing it on my own and people taking advantage of me because I am a female. I don’t have a down payment to put down on a property. But my question is can I use credit as a down payment towards my first property and if I should go into wholesale first or flipping houses. Please I need some advice 

Most Popular Reply

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Linda S.
  • Investor
  • Richmond, VA
2,339
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Linda S.
  • Investor
  • Richmond, VA
Replied

@Taryn Lewis,

If you don't have a lot of resources, wholesaling would be the best and only option IMO.     Unless you're doing a cash deal, the banks likely won't take it from a card.

 As far as being taken advantage of because your a girl, first off I'll say, I'm glad you're aware that it will likely happen!   Now, your best defense is knowledge-- know what a  reasonable price for X/Y/Z is, and have the knowledge to say no, why you don't need it.   

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