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Updated over 10 years ago on . Most recent reply
Hello BP!
First of all, if you've read this first line, thank you for taking the time to read my post!
A little about me: I have no money, and a minimum wage job. I have a main goal, which some might gawk at, but I am determined to achieve it! I want to make £1 Million sterling in the next five years, through real estate, I have no idea what I am doing, as of 13:22, 05/11/2014, but by tomorrow I would have a bit more knowledge, and the next day more, eventually I will have enough in my head to then get started!
I am looking for advice really, because knowledge is power, I want someone to point in a direction and say: "walk", and if I have to keep walking until my feet blister to get to that goal I will!
First of all what is the securist way to invest in property?
As of now I only know 3 ways:
-Buy-to-let.
-Commercial property (Shops).
-Wholesaling.
I understand that to invest in real estate I will probably have to take out a mortgage and then use it wisely to make profit from 'A' method of real estate income because I don't think there are many dragons den offers around so let the risks be mine!
To get a mortgage I will need to have a good source of income, so my plan is to apply for estate agency jobs until I am accepted, for the purpose of learning the ins and outs of the trade, the legislation, talking the talk and because it's a job with a decent income (atleast compared to mine). I have to get myself a full drivers license to qualify for 99% of these positions and will be investing my wages into this as soon as possible.
Am I heading in the right direction?