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Looking to buy a property to renovate.

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  • Looking to buy a property to renovate.

    Hi everyone, just singed up.

    Bit of basic info about me, I'm 22, In a decent job which makes me £19k a year ( not that great pay wise ) and I've been saving for the past 3 years as I'd like to go into the property market and eventually buy a house/flat, renovate it, then sell it on for a large profit.

    Obviously I'm not naieve and I know it's not this simple. There will be a lot of tough times and will take a lot of effort and planning before I even think about parting with my savings.

    At the moment I don't have any bills or outgoings, so when I make £1,400 a month, £1,400 goes into that saving.

    I've got between £16,000-£17,000 at the moment, but I'd like to have £25-£27 before I get serious.

    I'm just here to generally learn everything there is to know. I'm the type of person who'll like to know everything, from loans, mortgages, locations, before taking such a big step in my life.

    I'm lucky enough to have a very generous father who can back me financially if I put a good plan forward to him. If I show intent and purpose along with a good plan and a great potential end result - he's more than happy to back me in anything I do.

    To cut a long story short, I'm here today to learn and gain knowledge so I can ultimately make a lot of money... I mean aren't we all?

    Can anyone give me any advice, ask any questions you like, or simply point me in the right direction regarding a website so I can read from if possible.

    I'll come back tomorrow and check any responses I get. Cheers people.

  • #2
    Re: Looking to buy a property to renovate.

    I think you may need to ask some more specfic questions, to get suitable replies.
    Also I think Google will provide you with hundreds of helpful websites for research


    • #3
      Re: Looking to buy a property to renovate.

      Hi Bobby,

      The best advice I can give is do your homework on a purchase before you commit to buy. You make money when you BUY a property not when you SELL it!
      Also you need to be able to move quickly as the ones which are a bargain go fast.
      The first investment property we got took 5 mths to find because we were nervous about buying, now we can make a decision within 20 mins!
      That`ll come with experience.