Updated over 7 years ago on . Most recent reply
Advice from a successful flipper
Im getting started in real estate investing/ flipping I am currently a pipeline welder looking into a new field/ lifestyle I’m 23 years old and have 30 thousand in savings with no home mortgage and no debt as I work on the road and my company pays for my hotels or extended stays I have 2 different home bases one in Chicago another in Cincinnati. I am not afraid of relocating to give real estate everything i have. I have tons of questions for a successful flipper/invesor
Most Popular Reply
@Eli Weiss I believe @Account Closed is speaking of passive income vs. active.
Flips can bring on large sums of cash quick, but you need will always need a steady pipeline. Rental income on the other hand, will/should come every month, with a lot less physical effort.
If you have trade skills, I would advise you to buy a 1-4 unit which needs some work... fix it up/add value... rent it... then refinance into long term debit. This will allow you to grow your capital, learn rehabbing, and increase your income.