First Property: Fix-and-Flip OR 2-4 unit rental

[Krystin Krebs]

I am just starting out with real estate investing and I am thinking about what kind of property to purchase for my first real estate investment. I am considering starting off with fix-and-flips (make some fast cash) or rentals (long term investment). I would love anyone's input on which direction you think I should start off with (and why). Thanks!   

[Abel Curiel]

Hey @Krystin Krebs & welcome to the forums!

You're ready to get started, these are exciting times! 

Which route you take depends heavily on your ultimate goal. Many people on BP want to end up with a rental portfolio so that they can someday live off of their rental income. Others have aspirations of flipping houses for a living.

I am 100% in favor of beginning with a 2-4 unit property. You can live in one property and lower your living expenses and depending on the deal (and your market) you can even live for free. You'll also get acquisition and property management experience along the way.

House-flipping is a full-time job. Its a full-time job to FIND an off-market property to flip and a full-time job to renovate and manage a renovation. Of course, you could source this all out but it costs $$...

Best of luck to you!

Abel