Updated almost 7 years ago on . Most recent reply
Become a land lord first or flip a property first?
(to skip right to the question just scroll to the bottom of this discussion lol)
So i've been going really hard with putting in the beginning leg work to make myself successful in Real Estate. I have tried to learn as much as possible about the business, started my LLC, i have looked for properties, and most recently i found a agent who has lent me his services with MLS. He's an is an investor also,so he's been giving me tips and offered help with using his personal contacts. Being new at this, i still have some questions about owning a rental property. I know the process of repaying a hard money lender doing a flip property. Ideally you would pay the lender in full once the property sells (hoping it sells fast). How does this work with a rental property though? I have the opportunity to do both and I'm a little confused as to which one should i do first. I have my own money but i'm not trying to use so much. So what would you guys recommend doing first? Buying and flipping a home, or rehabbing and renting a property? All reply's are greatly appreciated.