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Updated almost 6 years ago on . Most recent reply

Melba Chambers's profile image
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Melba Chambers
  • Rental Property Investor
  • from Norwalk, CT
  • Member since Aug 24, 2017
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Melba Chambers's profile image
Melba Chambers's profile image
Melba Chambers
  • Rental Property Investor
  • from Norwalk, CT
  • Member since Aug 24, 2017
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Melba Chambers
  • Rental Property Investor
  • Norwalk, CT
138
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171
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Starting Out

I could use some good advice....

Melba Chambers
  • Rental Property Investor
  • Norwalk, CT
Posted

I have 40K for my 1st investment...I really would like to hear some opinions on what type of property you would invest in 1st! I would be investing out of town so house hacking is not an options.

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Marc Winter's profile image
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Marc Winter
  • Real Estate Broker
  • from Northeast PA
  • Member since Sep 22, 2017
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Marc Winter
  • Real Estate Broker
  • from Northeast PA
  • Member since Sep 22, 2017
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Marc Winter
  • Real Estate Broker
  • Northeast PA
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Marc Winter
  • Real Estate Broker
  • Northeast PA
Replied

@Melba Chambers, congrats on wanting to jump in!  I wouldn't attempt a flip w $40k especially if you are new and long-distance.

Go for a small bread and butter single, or duplex (side by side is best).  Keep at least $10k in reserves, and get a good PM on board.  Good luck.

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