Quote:
Originally posted by eribrav
This sounds like very frothy speculation to me. When people got this excited about the stock market in 1999-2000 it marked a huge short selling opportunity. Think about it.
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I am thinking about it. While I don't think that I can sustain it for such a long term and flipping isn't such a passive thing since one has to find properties and then sell them either with some alterations or just as is, I know that buying and selling real property is a good way to make large profits fast. For me it's definitely going to be a rental property thing because that is truly a passive way of generating income.
My parents taught me how to speculate on property enough to make a profit, and I've watched them do it several times since I was a kid.
I have a friend who buys properties in upscale areas and renovates them to reflect high class tastes, she make no less than US$1,000,000 on each deal, but it took her years to get to that point and sometimes she can have monies and profits tied up into properties for a couple years.
I think of it like anything, there are those who are in the top of their game, the Micheal Jordan's of real estate, then there are the professionals, and then the semipro and the lucky shots. I'm just hoping to hit semi-pro or even a lucky shot.
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