I'm 15 and i really want to start buying propertys, spending at least £6,000 on them and then selling them on. At the moment i have only £2000 of funds. My parents will be willing to buy my first house at auction and i will pay them back over time. Is there anything i can do differently?
2007-01-29 19:26:19 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
No sorry. i ment i will buy a property for £50,000 and then spend £6,000 re doing it.
2007-01-29 19:34:46 · update #1
Nice responses. Are you guys sitting @ home pulling the legs off spiders because of your failed lives?
To my 15 year old friend. Please start by going and learning this business. Go to dealmakerscafe.com, magicbullets.com, forumforme.com or wannanetwork.com. These sites are full of free valueable information. Auctions, at least here in the States, are the worst way to buy property. Get on these sites and read, read, read! Also post and ask questions! Tell them that you are 15 and want to know more about the Real Estate Investing Business. There will be many people that will help, not insult, you because every one of us wish we would have started in the business at age 15. Please ignore the previous posts as they are loosers and failures and want you to follow their misirable paths. Don't! Many people who are failures will try and keep you down so that they feel better about being a looser. Good luck and hope to see you on the message boards.
2007-01-30 02:36:44 · answer #1 · answered by outwest 2 · 0⤊ 0⤋
Well Sparky, my guess is that you are first going to need a time machine, so you can find any house or even well-located shack or refrigerator box in a good section of a shanty town to find property for that price, or I guess you could always look into purchasing one or two of those memorial bricks that they often sell at famous locations to help pay for the costs of upkeep; that way you can say that you own a bit of property.
If you are interested though, I do happen to own the Brooklyn Bridge in New York and would be happy to relieve you of your 6,000 quid for it.
2007-01-29 19:38:31 · answer #2 · answered by Expat 6 · 0⤊ 0⤋
It's not even legal to enter a contract at 15!
I would suggest you stay in school a bit long and learn all you can about the property market (read read read!) then you when you are in the work force and earning money and can afford to develop properties you will know everything you need to know to be successful.
2007-01-29 20:07:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Fair play 2 grand already! Just keep doing that till your 18. Also get into the building trade ASAP there's no better way to learn whats involved!!
2007-01-30 07:49:49 · answer #4 · answered by jp.85 1 · 0⤊ 0⤋
No one will sell you property until you are of legal age since the contracts will not be binding.
2007-01-29 23:10:58 · answer #5 · answered by dreamgirl 5 · 0⤊ 0⤋
If only we all had parents like yours, where are you even going to get a house for £50K? Good luck this all seems like pure fantasy to me
2007-01-29 23:24:52 · answer #6 · answered by bex b 1 · 0⤊ 0⤋
Lucky you.
What I want to know is where the hell do you buy properties that cost 6000 pounds? I want one!
2007-01-29 19:29:32 · answer #7 · answered by cigaro19 5 · 0⤊ 0⤋
Buy a Resturant , Get The Profits , Then Sell It
2007-01-29 19:29:29 · answer #8 · answered by Tornadistic Leader 2 · 0⤊ 3⤋