New investor Chicago

[Jasmine Dixon]

Hello BP, I have been on the site for only 2 days and love it. I've been taking notes since and learned a lot already. You guys are very helpful. I am new to investing and spend most time just trying to absorb as much information as possible, Wholesaling, estimating rehabs, renting, getting pre-approved. I look forward to networking with other beginners, investors and contractors in Chicago soon. I have been told that wholesaling is very hard and I should focus on buy & hold. Can I get some opinions on what strategy is best for a beginner and why? if I do buy and hold I would invest in a MFH.

[John Casmon]

@Jasmine Dixon Welcome to the forums. There's plenty of great information to be found so continue to soak it all in. As far as wholesaling vs. buy and hold or any other strategy it really comes down to your situation, skill set and goals. Wholesaling requires a strong understanding of the market, rehab costs and a pipeline of deals. Many wholesalers spend a decent amount of money and time generating leads. Make no mistake, it's a job, but if you can network with buyers and uncover deals it can be a very lucrative endeavor. 

Buy and hold requires more capital upfront and is more of a retirement or cash flow supplement for most people. There are numerous financing options to facilitate the acquisition of a buy and hold property, but deal analyzation and property management skills will make or break you. I'd suggest figuring out your strengths and what you want to gain from RE investing and going from there. Might be helpful to meet with successful wholesalers and buy and hold investors to help give you a better sense of direction as well.