How to get started? Different strategies?

2 Replies

I know that there is wholesaling, flipping houses, and buying and holding rental or commercial properties. What are the pros and cons of each of these strategies? What is the very first step any young investor should take when finding the strategy that works best for them? 

@Jared Coffman

Wholesaling and Flipping are jobs, much like a real estate agent or a property manager. I personally think becoming a successful wholesaler is the most difficult job to have, you have to be good at everything.

Buying commercial or residential properties is investing. I would start with "house hacking" aka get roommates so you can save a ton.

I think posting/connecting with others and reading are the first steps in figuring out what interests you.

Hope that helps :)

@Jared Coffman one thing to consider is do you want to own and build a portfolio of income generating assets? Or do you just want to make cash and move on to the next one?

Buy and hold rental property, both single family and commercial multifamily, will not only generate annual cash, but you are also building up assets that can grow equity value over the long term.

While wholesaling and flipping will put money in your pocket, you are not growing a portfolio of long term assets.

There’s not necessarily a right or wrong answer. It’s based on your goals.