Updated over 16 years ago on . Most recent reply
Hello from Chicago
Hi! My name is Frank. I am a relatively new investor and I have been lurking on this forum for a few weeks.I must say that I am loving this site and the wealth of information available here. I have not been in the real estate investing game for some time now. I am looking to get back in head first. My plan is to focus on acquiring cash flowing properties to build equity over time. I have some equity to put into a property but not really enough to acquire a 6 unit or larger property(which typically seems to be the tipping point for cash flow). I am looking for ways to increase my downstroke on a mulitfamily property. I have been looking into acquiring some single family foreclosures in the meantime but I am not sure if I should fix and sell the property (which could result in some carrying costs in this slow market) or if I should buy fix and rent for roughly break even cash flow and wait out the market. My other option (which I am somewhat unfamiliar with) is to try and wholesale the properties for a quick buck. I am a little reluctant to jump into this because of my lack of knowlege.
I would love to hear all your thoughts on how best to proceed.