Self motivated youngster on the scene (Naples, Florida

2 Replies

With merely a high school diploma under my belt, I plan on being a prominent REI in my area before I hit 20. But with my age (18), comes inexperience. I am very eager to get my feet wet in the business, I'm plotting out very good places in my area that will create a decent cash flow. Which leads me to my question; for a beginner, would you recommend a Buy & Hold or Buy & Flip and why? My father and uncle both have loads of experience in the contracting field, so as far as work and labor. I feel like I'll be just fine, just the money aspect that worries me. I'd greatly appreciate anybody's $0.02 on the matter. Thanks guys
P.s. What would be the best type of formal education to better myself, for example; majoring in business etc. mtrw

-Logan

@Logan Christner  

Welcome. Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 80 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Buy and Hold creates cashflow, Buy and Flip designed to produce a one time surge in cash.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.