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Updated over 4 years ago,
Inheritance, flipping advice
I've been researching and thinking about investing in real estate for sometime now (with little money of my own), but those plans have been catapulted by a recent inheritance. My brothers have also inherited a lump sum. A total of about $100,000 altogether. In order to grow the inheritance we are hoping to flip some homes to amass cash and then my plan is to start the BRRRR method for long term, passive income.
We are hoping the $100k will cover down and renovations for our first flip. We live in California and I’ve read that San Diego is a good place to flip right now, but we are open to other places in the nation. I guess what I’m wondering is whether this sounds like a good idea right now considering the economy and, if so, where are the best flipping areas right now?
(sorry, if this is not the right forum for this type of question! My first time here so I’m still navigating the site.)