Starting out in Real Estate - Flip or House Hack?
I am new to real estate investing and I am currently working at a big company earning a really good salary (just got out of school last year). I am interested in being financially free, but I am not sure how to start out. I am still living at home to save as much money as I can to start out in real estate. Should I flip a house to start out or do a house hack? Also, I work in the Sandy Springs (Atlanta) area and I am interested in keeping the property in the North Metro Atlanta area to save commuting time. Is the North Metro a good area to look in? Any recommendations on real estate agents to help find good investment properties to flip or house hack?
Most Popular Reply
As someone who started out flipping and transitioned to House Hacking, I would definitely agree with the people above. Don't get me wrong I made good money flipping but the risk is high and the learning curve is steep. Do a BRRRR house hack combo if you're wanting to do a renovation. I used the 203k loan to rehab a large project, house hack at the same time, and pulled out equity like I flipped it. Now it provides $2k a month in Cashflow 👍 and I continue doing that.