Updated 11 months ago on . Most recent reply
What to choose
I have been watching my local market the past couple of years saving money and building credit for my first property. I currently have two deals I am a looking to invest in and I think it is a great time to enter the market on the investment side.
The first deal a 30 acre parcel with two buildable parcels on it. This deal would be $275,000 with the owner holding 80% of the loan for 5 years. This property would be great to build two houses, subdivide and sell.
The second deal is a duplex with a storage building on the premises. The building is older and could be renovated. A perfect property to BRRR. The property is listed for $430,000 and I could live in the property while renovating the house.
Being my first deal in real estate what would be your advice to me and what deal would be best for a first property. Thank you for your advice and help!
Most Popular Reply
Hey @Joe Ferguson,
Do you have any experience in development? It's a complex process and there are a lot of unknowns for a first time investor. I recommend the second deal - house hack the duplex. Live in one unit and rent out the other. Fix the unit you live in and when that's done, move into the other one and fix that unit.