Newbie - Best Strategy?
I'm fully aware that selecting the best strategy in investing is totatally dependent upon each individuals circumstances. But some advice from you guys would really help develop my plan of attack. I'm also sure it would help bring some things to my attention that I would not have thought of initially. I'm looking to build a portfolio of rental properties. I've been looking to start on the lower end of things as I have found that many cities in my area offer duplexes and multi-family units at very reasonable prices. Problem is, they require a lot of TLC. I was thinking purchasing one of these units, rehab, and then use the rental income to purchase additional properties down the road. I saw this a s one mode of attack. Then a friend pulled my coat tail to tax liens and deeds as an alternative way to not only gain capital for rehab and reinvestment but to also potentially gain new units..... What do you guys think?