New investor looking for guidance.

[Ethan Snyder]

Hello all I am brand new the the investment game and am trying to educate myself on the best way forward. I currently have about 10k saved for some for if investment. Eventually I want to employ the brrr strategy but am not sure how to start, should I finance a flip to build capital until I can by a property and rehab it out right? 

sincerely, Hungry investor 

[Jason Wray]

Ethan if you already have $10K saved you can always start with a modest first investment.  Some basic questions:

Do you own your own home with Equity - If yes you could tap into that with a cash out refinance to add to the $10K

Have you considered buying a second home if you do own a home less money down (10%) which can still be used as a rental 6 months out of the year or after 6 month just convert to a full time rental.

Have you been pre-approved or had a bank/lender review your income and credit to see if you can get a mortgage on either option.

Once you buy a home investment or secondary you can always take out a line of credit to do renovations/repairs etc.

In order to get the ball rolling I would advise on the above options to get your next (90) days mapped out.