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Updated 23 days ago on . Most recent reply

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Ashley Meilunas
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What’s the best toe to dip into the real estate investing market?

Ashley Meilunas
Posted

My partner and I are just getting educated and organized around starting our real estate investing adventure. So far we are leaning toward fix/flip, but I'm also curious about rentals and even wholesaling. 

What's the lowest risk compared to profit method of real estate investing for beginners?

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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
Replied

@Ashley Meilunas The best way to get into into REI (not the easiest) is by buying a distressed property (aim for cosmetic+ rehab) and renovate it while living there. You can achieve this and put very little down if you buy in fridge areas, do the research, and negotiate a good price. You can add some value and fix it up. You could also rent by the room or house-hack at the same time which is very popular right now do to high housing costs.

Live-in flip, house-hacking, or a combination is basically a REI degree. It requires sacrifice, sweat equity, contractor relations, and property management (like screening tenants). You could live with family, find a roommate, or market the unit of a duplex. It all requires effort. You will gain knowledge from different aspects of the business which is invaluable. When you move out or sell the property is already fixed up. It's a long term win win.

I lived with my brother for 2 years, hired contractors as I could afford it, refinanced, and eventually moved out keeping it as an LTR. If an average guy from the mid west making $60k per year can do it you can too. Cheers. 

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