New to real estate and seeking some advice
Hi everyone, I’ve been listening to the bigger pockets podcast for a few months and I’m very new to real estate investing.
I have an opportunity to get a townhouse for $15,000-$20,000 under market value. This townhouse is in very good shape and in a nice part of town and is owned by a friend of my sisters. He needs to sell it fast because they are moving out of state. My question is, if I pick this property up would it be better to try and wholesale it or buy it and immediately sell it or is there a better option?
A little background on what I have going on.i currently live in Phoenix and I’m getting my house ready to be put on the market to sell and hope to have it on the market by the end of January. I’ll be moving down to Tucson some time in March. With what I’m listing my house for, I should make around $50,000 profit. With this money I would not be able to purchase this other townhouse cash, I would still need to get a loan for it. My sisters friend wants to sell his property in March and I’m trying to figure out what my best option is in this situation.
I know opportunities don’t just end up in your lap like this and I want to take advantage of it. Thank you for any and all the help