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Updated over 8 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Paul E.
  • Flipper
  • Beirut, Lebanon
2
Votes |
7
Posts

REI: Chance or Choice

Paul E.
  • Flipper
  • Beirut, Lebanon
Posted

It was back in 2009 when i planned to get married. i bought a 2b/2b house and had 55k on mortgage. I thought it was a bad idea then, since i had to pay 33% on my monthly income (as a full time employee in a trading co.) which i used to enjoy spending in outings and activities. For the first few months, it was difficult to pay this amount to the bank, but i admit it was easier later.

Now that's just the normal side of the story. 

I should confess that i didn't like that house, but i had to buy it to settle.

I have even spent 25k on it for rehab, but still didn't like the building nor the neighborhood.

Fast forward, i have broken up with my gf and haven't used the house for years, or event visited it.

last summer, i thought of selling it, and i was surprised that i could easily sell it at 127k with 27k net profit.

Why Am I sharing this now? Because few months ago, i decided to enter the real estate world as i have experienced that selling an old house for which i paid rehab and didnt even like came back with a 27k profit, and i did the same with a friend's piece of land last week!

I have to admit, i have no experience in real estate, i just have the passion and the ability to learn fast.

now i'm planning on building my online real estate company; i admit i have many doubting thoughts, since i'm planning to leave my current full time job and be fully engaged in learning/working in real estate. 

Please share your opinion.. are you with or against me leaving my full time job with a 3k monthly income to go full time on real estate?

Thank you whoever read and thought of dropping his comments.

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