How long do I wait before jumping into my 1st deal?

[Nzinga Augusto]

Here's my current situation:

- 40 yrs on earth, 0 years owning or investing in real estate

- 580 credit score

- South Florida (Miami Dade County and Broward County) market

- No considerable cash savings

- 90K + w2 and have a spouse with w2 as well

- Renter with no mortgage

Here are my questions:

- Does flipping makes sense for me or is BRRR the way to go?

- Should FHA loan be my first financing strategy (given that I have no current access to private money)?

- Should I just sit on the sidelines until 2019, build up my credit score and save up as much cash as possible before even thinking about deals?

[Jason D.]

First, I would figure out what your goal is, then work backwards. Flipping is a job, it takes time and resources. Landlording is more passive, but also not for everyone. FHA is a great way to get into real estate with limited funds and a lower credit score. Bottom line is, figure out what path you want to take, then take the first steps to get there.