Buying first rental

[Bernie Williams]

Dear BP,

My wife and I have recently acquired a HELOC and are considering using the funds to pay off some debt and make a down payment on a property. However, we are unsure whether to invest in a turnkey property or a fixer-upper. While I am interested in pursuing a fix and flip, I lack experience in this area and would like some guidance on the best approach to take. Can you offer any insights?

Thank you.

Bernie Williams 

NJ Resident 

[Ruchit Patel]

if you don't have experience and you are overleveraging yourself, I would be very cautious and I would not do anything out of my area of expertise. 

Maybe a good turnkey investment could be an opportunity.