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Updated almost 7 years ago,
How long do I wait before jumping into my 1st deal?
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?