Updated almost 7 years ago on . Most recent reply
First deal flip or buy rental?
Hey guys,
I just wanted to hear some of your guys opinions on this. I was wondering what would be better to start off as a real estate investor?
My long term goal is to focus on multi family properties. I have been saving a lot and working hard and finally for my market have enough money to put 20% down on a duplex.
The question is should I try and do a flip in order to gain more experience about the buying process and other technicalities of purchasing and handling property?
Or
Since the funds are present, should I pull the trigger on a rental property when a cash flowing opportunity appears in my market?
Thanks!
Most Popular Reply
It all depends on your strategy. Flips are the sexy part people see on HGTV and other mediums. Buy N Holds are long term wealth and an income stream forever. Probably in some people eyes a little boaring and methodical.
People do a combination of the two flips for money to buy rentals. I am but n hold investor I’ll do a flip or two each year in order to buy more rentals. The rentals can set you up and your family for generational wealth if done correctly. You may need to partner on the first one or two to understand the process but after that you can crush it on your own.