Then you will list AND sell it at full market value in less time than it takes a bank to underwrite a loan.I feel like I just saw a "get rich tonight flipping houses!"

The problem with an LOC is it has a shelf life, but it needs to be feed whenever it is used..and that "food" doesn't come cheap.  

Two words give me pause when considering making the jump to apartment buildings -- INTEREST RATES.As a real estate lawyer, I have seen several of my clients get very, very rich buying apartments.  

Perhaps thats how they have become so rich, by holding lots and lots of DEPOSITS with bids.Do they even have agency with the owner of what they are auctioning (ie the bank that has just foreclosed on the property or whatever)?

AndrewI believe you probably have the best advisor right next to you everyday your  Grandfatherand yes he has probably done some flipping but in general the real estate business is a long term investment and i promise if you look at it that way and set long term goals forget about get rich overnight cause thats not real if it was everybody would be rich . 

Really look and see what and where you want to go with wealth.To me,Filps are quick riches and Buy/Hols are long wealth-buliders.I perfer the buy/hold because of the benefits to eliminating or reducing my W-2 income 

I was in the food business for decades.

(through the embassy we got air, food, accomodation for AUS$150).Our Earls court 2 bedroom flat ran about £400/week shared by 5-7 guys depending on who was in town.

The locals love keeping the best properties while pawning off their crap properties to "some rich guy in CA".

I was on my way to riches...Was I ever wrong.