Updated over 10 years ago on . Most recent reply
Property inheritance
I am new to real estate investing. I am interested in buy and holding property and I am also interested in flipping property to sale. I recently inherited some a property that has been vacant for 15 years. The property is only 1 bedroom and will need a new kitchen and bathroom. I have no money to put in to getting this home fixed up to rent, nor do I have any money to purchase a new property.So my first thought is to sell the property I inherited and reinvest in a rental property, take the cash flow from that rental property and overtime save enough to purchase a property to flip. But this approach seem like it will take years for me to be able to reach my goal in owning several rental properties. Any suggestions?