Updated over 9 years ago on . Most recent reply
New member from Cleveland
Hi everyone,
Just starting to get interested in real estate investing. I have no experience or knowledge. My wife and I are looking to increase our income. We have a vision of having a business flipping homes and employing underprivileged kids fresh out of high school. She is an IT recruiter and also does all the marketing for her company. I am a commercial general contractor. Been working in construction since I was 12 with my dad's company.
My wife and I were advised you wholesale until you are ready to flip; you flip until you are ready to buy and hold rentals; you buy and hold rentals and exchange (1031) them into multi-units. Good advice?
We're also just looking forward to connecting with new people and building partnerships and friendships.
Thanks so much!
Sam
Most Popular Reply
@Samuel Bayzie, you realize by now that wholesaling and flipping are NOT investing. All they do is make you work TWO/THREE jobs instead of one, in order to eventually get down to the actual business of buy-to-hold investing.
But, with two incomes already coming in, why do you both need two more jobs? Is it because you've already parted with all your savings on a guru course? (If true, sorry you didn't come across BP first). Welcome to BP by the way.
Lots to learn. Find some DEALS, for yourselves. All the best...