Should I Flip or Rent?

3 Replies

Hello all!

I’m new to investing and will finally have the opportunity to put some money into my first investment property. However, I’m struggling with how I will approach it first. Would flipping or renting be a better way to go? The reason I throw flipping into the mix is because I have a dog who doesn’t totally love the idea of new people always. Having a house that I can work on and learn from while maintaining the privacy I need for her to live comfortably is something that’s attractive to me. Looking for any pointers that first time investors considered when looking to flip or rent first. 

Thanks. 

@Connor Devlin

Flipping a property is a good way to enter real estate investing but I would make sure to verify your renovation estimates are correct and you have increased your total by 15%+ to account for the overages that always happen. Lastly, I would never invest in a piece of real estate because of my dog. You could probably just rent a house and save a lot of time, headaches etc.

I have to agree with @Charles Carillo . If you are basing any part of your decision to flip a house, with little to no experience, on your dog, you are making a huge error in judgment. I love my dog too, but he doesn't make real estate decisions for me. It doesn't make sense to put renting a home on a scale across from flipping a home. Where is buying a home in the mix just to live and let it appreciate and work on it slowly instead of a live-in flip?