Hi everyone!
I was thinking of buying condominiums and houses to completely renovate them and then sell them. I am at the stage where I have to choose a university-level education. Which education do you recommend to gain sufficient knowledge? And why? I've been considering training to become a civil engineer, what do you think about that?
I would be very grateful for some advice
-Josefine
I was thinking of buying condominiums and houses to completely renovate them and then sell them. I am at the stage where I have to choose a university-level education. Which education do you recommend to gain sufficient knowledge? And why? I've been considering training to become a civil engineer, what do you think about that?
I would be very grateful for some advice
-Josefine
I know that there are many who more or less make a living that way. But I believe (with emphasis on believe) that it is a risky method to make a living.
Typically, you do not get back the money you invest in a renovation. But those who still make money from this do so because of the general increase in housing prices; the property goes up during the time they own and renovate it, even without their renovation. In exceptional cases, it is certainly possible to buy at a bargain price and "develop" the object. But if prices were to collapse instead while you're building, it will definitely be a significant loss.
A purely speculative behavior (i.e., buying and selling without actions) is probably more logical, as you do not risk having an inventory of properties tied up by renovations while the market dives; you can sell out in time.
Typically, you do not get back the money you invest in a renovation. But those who still make money from this do so because of the general increase in housing prices; the property goes up during the time they own and renovate it, even without their renovation. In exceptional cases, it is certainly possible to buy at a bargain price and "develop" the object. But if prices were to collapse instead while you're building, it will definitely be a significant loss.
A purely speculative behavior (i.e., buying and selling without actions) is probably more logical, as you do not risk having an inventory of properties tied up by renovations while the market dives; you can sell out in time.
Difficult to calculate, but I think most of those involved are craftsmen at heart; it's hard to buy the services without really good contacts and an understanding of what to do and not to do, and making money after a sale without a lot of your own work I also think is difficult.
Construction engineer is a good education anyway
Good luck
Construction engineer is a good education anyway
Good luck