New Business/first purchase

2 Replies

This Is my first post on here! I have been a Real Estate Agent for about a year and a half. This year I'm looking to start a Property Management company. I also am looking at buying my first investment property. As you know, just starting out money is short. I'm unsure whether to buy a property to hold and rent or buy a property to flip for more capital as my first purchase. Ultimately I do not want to do "flips" as a large portion of my business. Any and all opinions and help is greatly appreciated!! Thank You

Congrats on getting started! For many people that is the hardest.

Make sure you look at the rules to starting your own property management company "Very" careful. I know california requires a brokers license and in 3+ years of experience. There are also tons of rules to setting up the property business style.

As for the method. Everyone has their own style. I always advise you first figure out your goal. Ours is early retirement in 15 years. So in this case, flipping money unless enough to pay for pure rentals after tax issues and plentiful enough, they wouldn't do me any good. 

We are buy and hold investors. I talk about our strategy on episode 103 the bigger pockets podcast.

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