Flipping Or Renting Starting Out

[Jaason White]

Hello, to start off on some basics Im 24 and live in central Illinois and im looking to start making extra income in real estate until i can get enough deals done to where i can do it full time. My issue is i have no clue which direction to go and the fear of failure is holding me back. Ive always been drawn to flipping im a hands on person who likes the idea of renovation and turning something that doesnt have appeal into something that has great appeal. The problem is im not sure if that is a great idea and if it will work out. On the other hand everyone in my family tells me rentals are the way to go. Im not sure which direction to go and any advice is welcome. Thank you

[Bob Okenwa]

You'll probably want to spend some time getting into the weeds on each subject and talking to people who do each and get a better sense of what you feel is a better fit for you, not what your friends and/or family is telling you. Each side has its appeals and drawbacks. Flips generate larger revenue in a shorter amount of time, but are typically riskier. Rentals can go sideways when people don't pay as we've seen the last 60 days or so.

Pick a lane and give it your all and learn as much as you can. Once you feel comfortable, you can try moving into another niche and expand your operations at that point if need be.