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Hey /biz/ my dad inherited my grandmas condo.
>Worth around $260,000 CDN.
>flipping to it make it go for $290,000+
>Gonna start flipping houses starting off part time on the weekends and holidays and small with condos then eventually move on to townhouses and houses.
>Gonna try and aim for $20,000 profit min off of each condo.
>My dad knows basic trades so we can save on labour
Any advice /biz/?
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He might know basic trades, but make sure any jobs are up to code or you'll find yourself spending more to make it right
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>>1428476
have fun....
if u really want advice.small real estate is a cruel and wild bitch of a business to be in.
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>>1428476
i would sell the thing and use the money for more lucrative , promising ventures.
you probably wont make nearly as much money as you want when its all said and done. and you will have spent a lot of time doing a lot of work that any group of wild Mexican could have done.
but if your passionate , go for it.
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>>1428476
oh and, feel free to post more nice butts.
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>cruel and wild bitch of a business to be in
how so?
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>>1428492
God.
there are so many things that can go wrong ...
honestly if you dont know , you better bank on losing 1/2 to 50% of your initial investment learning.
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>>1428488
we have accounted all the fees and such. As long as we always make $20,000 were good.
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>>1428497
all im saying is that their are far more painless , less time consuming ways to make a more reliable 20k .
anyways. if u THINK ur gonna make 20k realistically.
then plan on making half that.
like i said, if u love it go for it.
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>>1428495
were playing it smart doing a shit ton of research into a place before we buying. Checking demographics, how much work is needed, monthly fees, how much did pervious condos go for etc. Also have an aunt that is agent that can dig deeper.
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>>1428514
but where dem butts?
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>>1428507
Yeah we know its gonna be a bitch in terms of time consuming working on it every weekend.
Were always gonna aim to make more than 20k like my grandmas condo. Getting 30k more for it, prob even more since a condo exactly like it was listed for 315k no improvements made on it.
Canada is a shit hole of a country with less and less opportunity per year. I see this as a way I could make a living being my own boss and making decent money.
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>>1428521
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