Wholesaling or Fix and Flip

[Damequia Montgomery]

Aloha, 

I am new to real estate investing and am wondering if any one can help me with getting started wholesaling and/or fix and flip? I don’t have much money saved 18k and Hawaii is very expensive as far as buying a home or duplex/triplex. So I figured that I’d try to increase my income so that I’d be able to buy a home. Any advice is welcomed. 

[Michael Borger]

Hello, @Damequia Montgomery - the best thing you can do is to read the Getting Started guide here on BP.

https://www.biggerpockets.com/...

Unless you have access to capital out of the gate or understand creative finance strategies (unlikely for a beginner, no offense), you'll probably want to start wholesaling -- that's how I closed my first few deals before securing private money and proceeding to flips for the next 10+ years and beyond. I did a wholesale deal Ahuimanu outside downtown Kaneohe, Salt Lake (Honolulu) and Waipahu before I started taking down my own deals.

I now do deals in Hawaii remotely while also doing various types of strategies in Anchorage and elsewhere in the mainland (Alabama, North Carolina, Texas, etc.): master lease options, owner finance wraps, and novations where the typical 70% rule may not apply.