New Construction vs Rehab Property
Hi! Future potential investor here!
What was your first property? I’m looking to start investing in rentals, single family, and I’m wondering if it would be more beneficial to buy a fixer-upper as my first property, or a newer construction.
I'm sure there's a lot less ROI on newer constructions, but they do feel relatively safer since there shouldn't be as much to rehab, and would be quicker to start renting out. Is it more important to start slow with a safer option or to jump right in?
On the other hand, a rehab would allow you to get a higher return, and not just in cash flow. Since I’m newer to property investing, I don’t know how to find out how much it would cost to fix up a property. Who do you go to? Does it cost money, and if so, is it something that can be financed into the mortgage.
Would love some help! Thanks!