Should my first deal be a multi, flip or long term flip
Hi to my fellow bp members so I’m 27 looking to get my first deal in real estate my question is. Should I buy a duplex, tri or quad as my first deal doing a live an rent an pocket cash right away or should I seek a partner to do a flip or buy a long term 2 year live in flip an pocket some money after the wait is over with taxes. I’ve been working at a dealership for a few years now so I qualify for a mortgage I make decent money I believe I could use the money in my 401k as a down payment that I may have to payback. I’m open to sound advice just trying to make a good decision. By the way my market is Michigan I’m a Detroit native yes property is cheap in some areas but don’t get it twisted Detroit has some areas with high value here also there are surrounded cities with great markets as well. Thanks I appreciate all the help from those who reply.