Starting Out Crossroads
I have reached a crossroads and I understand it may be a rather subjective issue. I am a newbie (as is obvious from the forum chosen) and have been weighing the options for me to start actively investing in. I have talked with other REI professionals in my area and hope that the sage wisdom of the BP forums will further help me decide. You guys really are awesome.
So here is the dilemma.
I have narrowed my starting options down to flipping or buy & hold. I have gone back and forth on this; sometimes even in the same discussion. The logic is as follows:
A) Flip - Potentially easier to attract private money due to shorter term of investment.
- Familiarity with requirements due to past experience with construction and having done one flip before many years ago.
- Provides seed capital for Buy & Hold
B) Buy and Hold - Easy transaction to "complete" to build track record faster
- Provides seed capital for future flip/B&H projects through equity and/or incomes
Basically it comes down to the better avenue to set myself up for. Given my experience I am comfortable with either avenue personally. I just don't know which would be more effective towards future progress. Is a deal just a deal or is, in your experiences, one type more preferable for Private Investors to take advantage of.
Thanks in advance for the help and advice!