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Updated over 10 years ago, 07/16/2014
Fix and flip or buy and hold in the beginning?
Hey BP forum!! This is my very first post on this site and am very excited to hear your feedback. Let me start off buy saying that I am the newest of newbies, although I have probably read at least a dozen books on real estate I haven't made my first deal, yet.... So if there any of you guys out there who've been doing this a while and you wouldn't mind me bombarding you with questions (especially in the Jacksonville, Fl area) then please PM me.
Well anyways, I absolutely believe that buying and holding cash-flowing real estate is the best way to create wealth. However, I have zero capital so I was toying with the idea of fixing and flipping a few properties to get started and then switch to a buy a hold strategy. What would you guys recommend? Should I flip a couple of properties first or just buy and hold?
Some considerations:
- I plan on using a hard money loan to accomplish this, unless I can find a private investor? *hint hint*
- I have already read the entire ultimate beginner's guide
- I live in Jacksonville, FL
- I am a professional barber, for those future mentors of mine who want a free haircut in exchange for your expertise :)
Thanks in advance!
Alex