So I’m getting started in the real estate game with a large profit from my first real estate investment and my family’s primary home. Im looking to maximize my profits with my gains and am capable of building a house from the ground up as far as repairs go on investments but also want cash flow and not just flips. Any recommendations on how to invest my money.?
Real Estate Agent · Yucaipa, CA · Member since 2019 · 1 post · 0 votes
5y
Hello Clayton, I hope you are having a great week. There are many options for you. Have you read the book "How To Invest in Real Estate" by Joshua Dorkin and Brandon Turner? This is a great place to get an idea of which investment appeals to you. They talk about one style in the book called the BRRR method that might be great for you. This stands for Buy, Rehab, Rent and Refinance. With your skills in construction you have the ability to flip, but also capture the long term income of renting. I hope this helps.
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
5y
Match your investment goals to the DEAL you buy/find/create.
That's all that matters when you start out otherwise you're aiming at moving target. Want to flip a property? Buy a distressed cheap property and start swinging hammers. Rental? Buy a property that needs less work, cash-flows or at least breaks even, and get it rent ready within 3 months. Have the mentality of business owner not a home owner.