oki doke lets say you have 130k to spare and your new to investing. but you are also very able to restore a home as well as just rehab plus have :superman: all kinds of tools and still have some youthful energy left. would you get rentals to build an income base and equity over time or would you go for the flip the first time out of the chute? So far this week Ive looked at about fifty properties and having done so (plus seeing what is starting to appear like a swarm of locust rehabbers throughout the areas) I'm starting to think a couple of tri plexes could be reasonable in the short term while I look for that property that has a decent upside. Oh and give in to the equation no debt, very high credit score and the ability to be full time. What would you do?
Why not look at doing a little of both. I don't think either option is a bad one. You can pick up a triplex and get some cash flow, while rehabbing another building - use those profits to pick up another rental for more cash flow, and so on and so forth.
Create your own strategy. Write a plan. Once you know what you want and plan it out, you should be in good shape. :clap:
You could do what we do. We buy really rundown places for cheap and then rehab them and rent them out. You end up with more properties for the same amount of money. An average property for us would cost $10-20K and rehab costs would be $10-30K, and they'd retail for $55-70k. So we end up getting in for a lot cheaper.
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