New investor looking to get started. Flip vs rent in the area?
Hello, everyone. I've been living in the area for about 8 years now and I'd like to get into real estate investing soon. I really like the idea of rentals and the passive income but also think flipping could be a great way to raise some capital and, if successful, possibly turn it into a full-time gig and leave my 9-5 job. Ideally, I would like to do both.
My question for you guys is what do you think of the local market in terms of flipping vs. renting? I have a realtor in St. Pete who says I can do very well flipping over there right now, but I've also been cautioned against investing in St. Pete (by a member here) that their permitting can be extremely slow and troublesome so I should stay clear of the area.
Does anyone have any advice or guidance for me? Is flipping worthwhile here? Should I avoid St. Pete?
I look forward to learning from everyone here!
Thanks in advance,
Mason