All Forum Posts by: Account Closed

My mom is in her late 50's and has some money she wants to invest (~250k), she has talked to financial advisors where they showed her what they'd do along with their fee's and expected returns, etc. I was telling her about real estate and maybe buying a multi unit complex and she seems interested. She said to look for places online and she would consider it. I am willing to put in time to help her but I really am not too experienced- I've read a few books, watched countless hours of YouTube videos and have lurked on this subreddit for quite some time. I was hoping to get some feedback whether this would be a good idea for her or whether she should go with a financial advisor instead. I would love to help her retire earlier and also get some experience for myself through the process, but I don't want to lead her down the wrong path with her own money.

My friend and I are both 19 and have been very interested in real estate for a few years now and finally want to start by flipping a house this Summer. It is a very beaten down house that has been pretty vandalized (copper wiring stripped, holes in walls, dirty, windows broken, etc.). We are looking to get it for 5k-10k and from the research we've done we've estimated we'll have to put about 40k. We're then looking to sell it for around 75k. This will be our first time doing anything like this but the numbers seem to be positive. Is it a good idea to go on with this and if so what are some helpful tips for beginners?