Getting Started in St Louis

3 Replies

Hello All,

I am in St Louis area (west county) and am wanting to get my foot into real estate investing. I was interested in whether i should look to flip first or to invest in a rental. My goal is to build a business and be able to leave current job. I know this will not happen over night but would appreciate anyone's comments or thoughts on the best way to proceed. I have found BP to be a great source of info. I have flipped 2 properties years ago but was very lucky that the properties fell into my lap due to family. The appeal of a flip and potential for a quicker lump some return is nice but the long term of the rental has just as much appeal for the future. 

I will have roughly 80k-100k to start but would like to know what everyones thoughts are on buying cash or financing? I could ask a hundred more questions but would appreciate any info.

Thanks

Jeff Hartman

Jeff, I am more than happy to help with any questions! Per the financing question, I would 100% finance if you are able to. There is no reason to put down 100k on a property when you can put down 20k, for examples. Sure, you have no note and you might cash flow much better, but you lose out on plenty of benefits and net worth growth from taking that approach. Feel free to PM me with any questions!

Originally posted by @Jeff Hartman :

Hello All,

I am in St Louis area (west county) and am wanting to get my foot into real estate investing. I was interested in whether i should look to flip first or to invest in a rental. My goal is to build a business and be able to leave current job. I know this will not happen over night but would appreciate anyone's comments or thoughts on the best way to proceed. I have found BP to be a great source of info. I have flipped 2 properties years ago but was very lucky that the properties fell into my lap due to family. The appeal of a flip and potential for a quicker lump some return is nice but the long term of the rental has just as much appeal for the future. 

I will have roughly 80k-100k to start but would like to know what everyones thoughts are on buying cash or financing? I could ask a hundred more questions but would appreciate any info.

Thanks

Jeff Hartman

 Welcome to the site Jeff. If you are doing a rental I'd recommend using financing. You can get 4x the properties. If you are flipping margins are tight in this market so i'd recommend buying cash if possible.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you