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could i be a property developer at 21

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adampember | 13:23 Wed 13th Jun 2012 | Career Advice
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Im currently 19 and living with parents, i went to college doing carpentry for 3 years while doing a 2 year apprenticeship and gaining qualifications, my father is an experienced plasterer and general builder he covers plastering, brick laying, painting and decorating and landscaping so me and him could do most of the work ourselves, the only problem is he can't put money together with me to start buy the first property as he has alot of payments to make, i have been in a relationship with a girl for over 3 years and within a year or 2 we intend to get engaged, I've worked out that between me and her we could save up around £15,000 in 2 years, i was made redundant from my carpentry job last year and after being out of work for a year i got myself a full time factory job 4 on 4 off which i would keep doing while working on the property on my 4 days off. i would be looking at starting off with smaller cheaper properties getting for example a 60k mortgage for a house worth around 45k in need of some renovation and working my way up to bigger projects, would you say 15k is a realistic amount to start this off and is my dream realistic or not?

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You could rent it out though to the DSS. Then use this as an income to get another house. You can carry this on until you become very wealthy indeed.
which is pretty much exactly what I did... nothing wrong with poorer areas as long as they aren't complete no go zones, which is why i mentioned buying in the valleys- still possible in the £25k upwards bracket.

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