Hello again everybody,
I have a few post and all have got great feedback thanks to all of you great people.
My new question is, what would be the best path for me to take as a new rei? What should I do first? (Buy and hold,fix and flip, wholesale) any feedback is greatly appreciated. What path would you recommend?
Nobody can truly answer this--only you really know yourself. Do any of those activities particularly resonate with you? If not, I would pick one, find someone doing it, and ask if you can tag along to see how it goes. Perhaps avail yourself as a free intern for a period of time to help the person out while all you get is the information from doing it (you can also make good friendships that way).
That said, the way I did it was by scrabbling money together and doing flips first in order to build some capital. Once I had enough I bought a rental that is cash flowing. I'm not "killing it" by any stretch but I'm doing this in my spare time for now.
@Account Closed thanks
I would agree with everything @Account Closed has said but in addition I would assess your resources. Of the following what do you have Time, Money/Credit, Knowledge. Lots of time and no problem getting turned down may lead you to wholesaling, Lets say your a Veteran and could use the VA loan but don't have any money you could house hack a multifamily or if you have some knowledge as far as construction and remodeling is concerned Fix and Flips may be the best way to go.
What's with the 'bump'?
@Account Closed sorry it's my way of keeping the discussion at the top of the forums for more feedback. Bump (bump up)
Ah. Learn something new everyday!
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