Taking the plunge

3 Replies

Hi BP friends,

I am a contractor by day mainly remodeling homes especially bathrooms. I've been wanting to get into rentals and flipping for at least 10 years and have finally took the plunge.
I found a house that was a VA foreclosure that I bought. It appraised for 15,000 more than I gave for it, then I went in and did some upgrades. Haven't gotten it re-appraised yet but I did finish the upgrades and put a renter in it before the first Payment was due thank goodness!! My goal is to buy at least 2 or 3 more each year for the next 10 years. I'd really like to get into multi-family properties as well.
I guess my question is what should I do next from here, I want to keep moving forward but not sure I can with money tied up everywhere. Should I sit back for 6 months or so and then tackle my next property?

Welcome @Jarrod Cavinder wow what a good start! I'd say a lot of it depends on your long term goals and how you want to get there and the speed. No doubt having your skill set will serve you well.

Welcome @Jarrod Cavinder ! Those are lofty goals but attainable.
As for the 6 month thing, only you can answer that. As for me, I am a little more cautious as I start out haha

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.