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Updated over 10 years ago on . Most recent reply

User Stats

26
Posts
3
Votes
John Byrne
  • Philadelphia, PA
3
Votes |
26
Posts

Best Way to Start. Opinions needed.

John Byrne
  • Philadelphia, PA
Posted

Hello Everybody,
I posited a comment in the member introduction page a little earlier, but now I wanted to take the time to get some feed back and opinions on how to proceed with starting my REI career.

In my research I have concluded that there are 3 options for people who are just starting out in Real Estate Investing (in no specific order):

1. Wholesaling
2. Fix and Flip
3. Buy and hold for Rental Income

Because of our financial situation and me being a licensed Realtor the Fix and Flip and Buy and Hold strategies are the most appealing to me at this time.

My question to the community is if you had >$200,000 to invest into your real estate business would you begin by buying and fixing rehab properties or would it make more sense to begin to accumulate income producing properties.

One of my main motivations for wanting to begin to build a real estate investment portfolio is to free me from my 9-5 job to be able to spend more time with my family and focus on building the most solid financial foundatation as possible for our future. I am interested to see what this community think

Most Popular Reply

User Stats

78
Posts
29
Votes
Lior Solomon
  • Investor
  • Demarest, NJ
29
Votes |
78
Posts
Lior Solomon
  • Investor
  • Demarest, NJ
Replied

I totally agree with @Kenneth Huddleston 

Starting small always works to get your feet wet.

I'm also just starting and I'm about to close on my second deal. the amount of info I've learned from taking action would have take months of reading and podcast listening.

If there are 2 main mantras I'm sticking to in my early stages:

1. Feel comfortable with your decision. it took me some time to realize what am I comfortable with (location, investment type, budget etc)

2. Just do something. I believe that executing a deal teaches you so much.

Good luck  

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