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Updated over 1 year ago, 05/08/2023

User Stats

83
Posts
63
Votes
Brandon Morgan
63
Votes |
83
Posts

Just starting out, crazy rates low inventory

Brandon Morgan
Posted

I am just now starting out as a real estate investor. I am looking to buy my first property. I am a Physician Assistant and make decent money (over 100k yearly) but in my area everything is still super expensive, very unlikely to find anything under 300k. 

I was originally planning on finding a multi family and renting it out. my goal for my first property to eventually pay for itself and maybe even have a slight positive monthly net income, but even then Multi families get bought out rapidly. 

the real estate agent Ive been working with recommended using a 203k to fix up a property and suggested doing a house flip with a single family. flipping wasn't my original plan but it seems possible, but I get worried about the monthly payments for the whole first year before I can sell it and my abliltiy to sell it with the market being unstable and possible crash coming. I am not sure what I should go for. 

any advise on what to do? also renting and keeping vs flipping given my situation? open to any advice for first time investor. 

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