What Type of Property Should You Start Out Flipping?

Today I’m talking about whether you should start off with flipping commercial; multifamily; A-, B-, C-, or D-class properties. Let’s get started. Now, you’ve heard me say it before, and I’m going to say it again, money makes money. I don’t want you to forget that. I want you to prove to yourself that you can work hard, stay frugal, and save $50–$100,000. For all of you guys and girls who have saved $50–$100,000, you’re probably wondering what to do next. _ Related: 7 Ways TV Flipping Shows Are Completely Fake (As Any Real Investor Knows!)_
Where should you invest this money?
You’re looking at all types of properties and there’s a lot of gurus out there pitching their own jibber jabber. You’re soaking up a lot of information, you’re doing your research, you’re watching the videos, and you’ve probably spent six to 12 months (if not longer) on the sidelines thinking about what you should do and how you should do it. But guess what? You guys need to take action. I need you to make an investment. I need you to do something right now. Sitting on the sidelines will only give you a foundation to learn the fundamentals of how to do certain things; it will never give you life experience. Practice makes perfect. If you invest, even if you end up losing money, you will learn so much more from losing it than spending another six to 12 months or longer reading online forums, watching videos, and attending seminars.
Now, what kind of deal should you do?
I have no freaking clue. This is my belief: when you’re starting your real estate endeavors, the least amount of money you can invest will equal the least amount of risk. So, if that means buying a D-class property in a rough area for a couple grand, so be it. I’m a big believer in taking action, putting your money where your mouth is, and learning from the experience whether it’s good or bad. Learn from the experience. Understand where you went wrong. If you went wrong, make sure you do not repeat those same mistakes. Take what you learned, replicate it, and go into another deal. Just don’t make the same mistakes.
Conclusion
What type of class property you should look at flipping? I personally think you should see what you’re comfortable with. Look at how much money you have saved. See how confident you feel in your ability, and the ability of your surrounding team of networks and then, I say invest the least amount of money. Why? Because that will equate to the least amount of risk. I hope that makes sense. I hope you enjoyed this article and feel free to leave any questions below.