Starting Investment Options

4 Replies

What does everyone think the best place to start out would be and why? Buy & rent, Fix and Flip, wholesaling, BRRRR, tax liens, or something else? I am in the NJ market.

Short answer is that IT DEPENDS!  How much money do you have available to invest?  What are your short and long term goals?  If you've got money and patience then best long term wealth building strategy is Buy and Hold for cashflow in lower-middle class areas.  I suggest finding an agent in your town who specializes in working with investors so that you can get a feel for how much money is needed to invest in your market.

@Chris Laino it really does depend. But, if you are young, and it will be your first property, I personally think a BRRR/House Hack combo can really set folks up in life. While I have done dozens of deals and owned several primary residences before, we just did a BRRRR/Househack combo that came out fantastic - I will be putting it up as a case study next month, you should check it out when it goes up.

Thanks for all the replies. @Andrew Kerr , I've looked into that, do you have any links that were beneficial to you when doing the BRRRR/House Hack?

@Chris Laino at this point no as I did my first house hack 15 years ago, then did another one maybe 6-7 years ago. Then just finished the most recent one. Search @Brandon Turner articles on house hacking and the BRRRR method. I also think he did a webinar on it you might be able to view.

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.