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Updated almost 3 years ago,
Brand New - How much do I need?
Hello, I am new to real estate / bigger pockets / etc. I wanted to ask:
How much is a good starting capital for a new investor to start investing in a long term BRRRR strategy? $50,000? $75,000?
I am currently making a career change and thought real estate might help me find financial independence, and feel I need to start making passive income soon since I am currently unemployed / going back to school. I am starting from scratch and have read "million dollar real estate investor." I am currently reading "BRRRR," and plan to read "long distance real estate investor" next. Still a little overwhelming, but am looking for a markets to start (AZ, PA, OH, etc). I have money saved and in the stock market / crypto. I am thinking of selling soon to fund this new real estate venture of mine, or should I wait to let things appreciate more until I get to $75000. Any insight will help.
Also, I had my eyes on long term BRRRR strategy but am now being told that short term strategies might meet my goals better - passive income / financial independence. Any thoughts / insight would be greatly appreciated. Is short term a good route to go or should I stick with long term BRRRR? Which strategy is better to start with my FIRST purchase? Are there books / info on short term rents I should look into?