What should I do first?

8 Replies

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?

Thanks everyone.

Mario,

  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.

Good luck,

Vincent

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.

Good Luck

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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