Updated almost 2 years ago on . Most recent reply
Starting out advice and strategy
Hi, im Ignacio, 29 YO, born in Argentina and moved with my parents to Mallorca 5 years ago. We own a bar and are planning to start investing in real estate.
My goal and dream is to retire my parents before they turn 70 (in 7 years) so they don't have to work ever again. They gave up everything for me, and i want to give it back to them.
They are about to sell the house in Argentina and want to buy one here (it's worth around 250k). I say it's a bad idea, i'd rather buy different properties and use that money as down payment.
My father is also well connected with an investment group and want to start a flipping business, but doesn't really know the business. I would absolutely love to help him with that.
1) What should we (they) do with the 250k?
2) Should we start the flipping business with these private investors as well?
Any information or point of view would really help me. Thank you so much.