Jump start into real estate investing
I am moving to greenville, sc in August. I have roughly $25,000 to work with, and I would like to start getting into investing.
I have found a $45,000 house that needs minor cosmetic work (Basically new paint). 2 bed, 1 bath. If I put 20% down ($9,000) my monthly payments including tax and ins. is roughly $250. Zillow estimates rent at $800. That's $550 monthly income if my numbers are close.
That leaves me roughly $15,000. I would like to use the rest to put a 10% down payment on a $100,000 home to flip while I live there.
This seems like a good way to get a jump start. I am able to get 2 properties. One providing rental income while still being able to purchase a house to flip.
Is this a good idea? bad idea? I appreciate the advice!