Realtor investment advice

[Yvette Wright]

Hey! Im new to the group. I want to become a realtor investor.  I have an inherited home that i own that needs renovation badly. Im currently in the process of buying another home. Im not sure what to do or how to start. I was thinking maybe yall could give me some advice or feedback.

[Melissa Justice]

@Yvette Wright,

Welcome! Owning that inherited property already puts you ahead of the game- you’ve got equity to work with and options. A few thoughts:

1) First, get clear on your goals - are you leaning more toward flipping for short-term profit, or holding long-term for cash flow and appreciation?
2) On the inherited home, run the numbers both ways. Sometimes a renovation + rental makes sense, other times it’s smarter to sell and redeploy into something turnkey that starts cash flowing right away.
3) Since you’re also buying another home, just be mindful of your financing and reserves so you don’t overextend.

If you do decide to go the rental route, a lot of new investors like to start with turnkey properties in the Midwest and Southeast. Lower entry prices, solid rents, and professional management make it easier to get started while you figure out the bigger picture.

You’re in a great spot with options on the table - excited to see how you move forward! Always happy to chat more about what has worked for other investors. Best of luck!