Updated over 11 years ago on . Most recent reply
Starting Out Advice
Just looking for basic advice from a new REI. I am mostly interested in SFH and flipping, but also have interest in MFH and multiple unit properties. I will be closing on my first endeavor, a SFH buy and hold that I purchased for $75,500 putting $25K down. I will look to rent it for around $850/month.
I have around 70K free cash. Part of me wants to buy another SFH all cash and just build wealth for my next down payment through rent, but another part of me wants to keep cash on hand for any possible REO properties that I could flip. Any advice from anyone who has been in my shoes? All perspectives appreciated. Thanks in advance.