Hi all, I am very new to property investing and extremely excited by it.
As I am learning I am asking some certain questions which I think some of you guys should be able to help with, if you don't mind.
I am currently short on cash for a deposit on my first IP so am looking at renovating with a long settlement on 2-3 bedroom houses in middle market areas. Does anyone have any advice on how to "crunch the numbers?"
Also has anyone discovered any in-depth educational materials for completely understanding the renovation-to-flip process?
Kind regards,
Matthew Horne.
Provide the numbers…and we shall be able to crunch it
– How much are you short by…
Also with a renovation-to-flip strategy, you need to have money ready to make this process work….it's all about flipping in the quickest amount of time and if money/cash is tight this can cause a lot of delays.
Have you research into any another strategy, that may be more suitable considering your current situation and cash flow/deposit issue?
Regards
Michael
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
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Hi Michael,
I am looking at using my dad as a guarantor and money partner for my first investment to generate some lump sum gains which I can then pay him out and start on my own from there. I was thinking that the reno-to-flip process would be the best option for that goal? What do you think?
And sorry, I guess the question is what numbers do you need to crunch rather than how to crunch them?
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