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We are new to Bigger Pockets and are just getting into the real estate game in our mid 50's, so we are a little behind. We just bought our first house to rehab, and just got it rented. We ended up paying for the house in total, with the rehab, so while the rent coming in is nice, now we are a little strapped for cash to buy again. As old as we are, getting in now seems to benefit our kids more when we die than it does us now. We are trying to figure out how to make some money with this now, or at least before we die- should we just try get lots of rentals or flip houses, etc.? Any advice is much appreciated!
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#1 New Member Introductions Contributor
- Real Estate Agent
- Columbus Cleveland Dayton, OH
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#1 New Member Introductions Contributor
- Real Estate Agent
- Columbus Cleveland Dayton, OH
Congrats on getting that first one rented, Jennifer! I wouldn’t worry about being “behind”, you’ve already got the hardest part done. If the goal is to build income now, I’d look at a mix of rentals and strategic flips, and I’d also consider Midwest markets where lower entry costs can make it easier to stretch your capital and keep building. The Midwest markets are worth comparing if you’re open to investing out of state.