I am in a very good position financially. I save around 3k a month and will have $20k to invest middle of the year or 40k by the end of the year. I am interested investing full time and looking for a pathway to get there the quickest.
There is also another opportunity to start investing with a close family friend that is getting into multi family deals he has more $$ and can get investors and is willing to partner on some deals.
I want to invest in the larger deals for long term holds but feel like I need some more cash to flip my way up... I don't want to invest in a large deal and get stuck in a hold. I want to be able to build up my cash maybe through 4 unit FHA? Maybe some single family flips? Then take my experience and manage deals and bring in investors...
I’m really trying to find the best way to flip my way up to larger deals and bringing in partners for investments.
I’d appreciate some advice!
That's great you are able to save money. You are smart you know it takes money to make money. Now for some honest advice. If you are trying to flip in the LA market $40k is not enough. It is going to be very tight on you. I think a buy and hold FHA strategy would fit better for that amount.
If it is your desire to flip then wait another year and save to $80k. REI is a walk, not a sprint you will get there.
Thank you. I would not be flipping in Los Angeles. I will most likely research an area then move there for a month to really get an idea of that area.