Class A Contractor w/ $40k to invest
Hello everyone. I am a Class A contractor in VA with many employees who can do work on a property that needs revamping. I'm considering flips but I'd like to build a rental property portfolio and have a passive income from that. I have $40k I can put down. What would ya'll do? I'm thinking the BRRR strategy on a duplex. I am in hampton roads virginia.
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@Ryan Smith The duplexes are expensive right now so I'd focus on single family. With $40k I'd take out a hard money loan and buy a fixer upper, and use your $40k for your copayment and reserves. There's plenty of opportunity in Hampton Roads. Let me know if you need help finding a deal or a local hard money lender.