First Investment will be Cash. Rent or Flip?

[Rachel Kelly]

I am currently an on-site residential property manager and ready to make the switch to investing. 

As a novice just starting out, I need to build my team and am ready to go!

Received a windfall. What makes more sense to you?  Bear in mind that the windfall is all i have and is only enough for one property. Making the correct first step is crucial!

Purchasing a brand new home, renting that out for monthly income and using the equity to move forward, or...
Starting with a flip so I can soley work with cash so make a larger sum out of the starting gate, and not start a loan cycle on a bunch of properties. 

What would you do, knowing what you know now?

[Scott E.]

Step 1: Don't do anything. Put that money away somewhere that you aren't tempted to touch it. And spend the next 6 months in research mode. Get educated on the pros and cons to different investing strategies. Study different sub markets. Listen to a bunch of podcasts. Ask tons of questions here on the forums.

Like you said, making the correct first step is crucial. So don't rush it.