Please, help me with my investment.
Hello,
My dad has saved 220k dollars. We want to start investing in real estate. We were thinking on buying a distressed property (all cash) and then fix it and cash flow for a while until it appreciates enough to sell it. We were also thinking about doing the brrr strategy so we don't pay gain tax. However, there is another method that I read which is instead of spending all the money on one property, to get 2 mortgages in 2 different properties, and divide the 220k in two and buy different properties. Since, they are going to be strictly for cash flow we are confident that it can be possible if we find the right bank or mortgage lender. My dad's credit score is 750 and our house is paid off the only debt we have is our car. Can somebody please help me think of a good strategy. Thank you so much!