Real Estate?
Just wondering if anyone else does Real Estate to make money. Me personally, I dont, I'm to young (17) but my dad does. He buys foreclosures, or houses that need a lot of work but are in good areas, fixes them up, and sells them for more. An examply would be:
1.Buy a 150,000 house in a nice neighborhood where houses go for 250,000
2.Put 50,000 into the house
3.Sell it for 250,000
4.Take 50,000 profit and invest that money into another house
My father does this and it helps the community. It does sound as though dishonest and evil. To me, I dont think it is. When people look at a real messy house, they instantly say "NO," I dont want this house, its trashed. What the dont realize is that they could actually bargain from houses like these. My dad just realizes that and takes advantage of the idea. I dont see any evel in that. If anyone has any objections to this please explain your point of view.
Anyways, does anyone else do this? My dad managed to net over a 1,000,000 doing this in the past 5 years.