Updated about 10 years ago on . Most recent reply
Flip or multifamily?
I'm torn between flipping and buying a multi-unit property. I'm skeptical about a flip because I do not know a lot about the business. The people that I know that do flips are people that I used to work with and they told me they will help me find connections for flipping a house. A flip is very tempting because I can put a bigger down payment on a 4plex and have more cash flow when I rent out the other 3.
I already have a plan for a 4plex. I start out with a government loan because they count rental income as part of your income when you do not have landlord history. I'm not buying anything until a year and 9 months later. The reason being is that I need to feel comfortable with my liquid assets first before diving into investing in a flip or a rental property.
How did people here find their niche? Before or after investing? Or after they already have done a flip or a rental.