My dad made a lot of money in life thanks to buying a lot of feal estate. It has made him very wealthy. He’s always been good to me when it comes to money, but I want to earn my own way in life. He offered to give me a lot of money to buy many properties, but I told him if he wanted to loan me the money to buy a few places, I would be willing to do that instead. Since then. I have hired a part time cleaner in Singapore to help me with each of the properties I have purchased thanks to my dad’s loan. The cleaner came a few times a week to help me get the places cleaned up because so that I could sell each property for more money than I purchased them for.
Dad also started out small with purchasing properties and then selling them for a higher profit. This is known as flipping houses. A buyer purchases a home that needs cleaning and repairs because it costs less to buy property that isn’t in pristine condition. The buyer then readies the house to make it look much nicer and sells it for more than the original purchase price. I took my time and found homes that did not need a lot of expensive renovations done. The cleaner who I hired has really helped me out a lot, and he has even helped me to paint inside and out.
The first time that I purchased sold very quickly. I made $50,000 in profit. The second house that I sold took longer to sell, but I made $100,000 in profit. My father told me to take that money and put it toward more property. He said that, over time, I would make enough money to pay back the loan. I could tell that he was very proud of the fact that I took the money from him as a loan instead of expecting him to just give it to me.