Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
8y
First, I would figure out what your goal is, then work backwards. Flipping is a job, it takes time and resources. Landlording is more passive, but also not for everyone. FHA is a great way to get into real estate with limited funds and a lower credit score. Bottom line is, figure out what path you want to take, then take the first steps to get there.
Rental Property Investor · Pompano beach, FL · Member since 2017 · 478 posts · 194 votes
8y
You could house hack with a duplex or flip until you build up cash reserves to BRRR. FHA or Fannie Freddie would be a good start. Find out what you can prequalify for. Keep educating. Good start.
Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
8y
First, I would figure out what your goal is, then work backwards. Flipping is a job, it takes time and resources. Landlording is more passive, but also not for everyone. FHA is a great way to get into real estate with limited funds and a lower credit score. Bottom line is, figure out what path you want to take, then take the first steps to get there.
Investor · Miami, FL · Member since 2017 · 229 posts · 271 votes
8y
It really all depends on what strategy aligns with your overall goal. I started my REI journey here in Miami about 6 months ago and I'm currently finishing up my first rehab with the goal of creating a portfolio through of rentals through the BRRRR strategy. Here in South Florida a lot of people will tell you that it's impossible to find good cash flowing properties. I would disagree but it does take a lot of hustle. Think about what your strength and weaknesses are and what will move you to your long term goals. Best of luck and welcome to South Florida investing!!
Rental Property Investor · Lanai City, HI · Member since 2018 · 64 posts · 70 votes
8y
House hack for sure. 5% down on up to a 4 unit place, live in one of the units and fix it up. As people move out, fix those up and rent the one you were living in for more. Do this for a couple years, then move to the next one... or retire.