Start off with a FLIP or RENTAL

[Cameron Chambers]

I’m new to real estate and want to start investing. I started off with lowering my expenses and bad debt and am ready now.

I simply lack major capital to put down onto a property.

Is it best to start with a flip or a rental property?

And what’s the best way to go about it.

[Mya Toohey]

@Cameron Chambers

Before I became Realtor I was on Bigger Pockets and followed their BRRRR strategy. I am now a Realtor, investor, Short and Long Term Property Manager and AirBNB Host/Owner in Tampa, Florida. I started in my hometown Louisville, KY by buying a home in an up and coming neighborhood that needed some work but not too much (before I was a Realtor). I bought it for $79,000 put $10,000 into and got it rented for $1000 a month. We put 20% down and held it for 2 yrs. Paid the mortgage and took the profit and saved it for our next project. After that time, we refinanced it at the appraised value of $119,000. At that time we then took that profit and invested in a flip with another experienced investor. We put $15,000 in on the deal and made $25,000 back in 4 months while doing nothing. It's the best way to slowly gain capital with minimal risk. We learned every inch of how to rehab while working with this other investor. So, for passive income this strategy worked great for us. I of course went on to rehabbing, got my real estate license in Kentucky, and doing real estate full time and sold over $6 million dollars of Real Estate in the two years after that. Everyone has a story, good or bad with Real Estate. You just have to make sure you do your research and get a good Agent to help you with your purchase (trust me, you will be glad to have someone on your side!). Best of Luck!