Getting Started in Real Estate Investing

[Paul Petersen]

Hello Members of BiggerPockets!

I am a complete newbie when it comes to real estate investing and conflicted as to where I should get started. I currently reside in the suburbs of Chicago and to say it is a seller's market is an understatement. I understand that taking action is the most important step in real estate investing but I am struggling to commit in such a inflated market. Because of this, me and my friend (partner) believe that flipping might be the most viable strategy in this market. We are currently working with around $18,000 in cash and are leaning on getting a FHA 3.5% down loan. Taking into consideration these factors, should we wait for the market to dip, consider a different strategy, or stick with our current plan?