Flip or Rental for first time investor?

[Dominic Taylor]

After years of "I'd like to eventually do that" and window shopping YouTube videos of peoples success with REI I have reached a point where I think I'm ready.

My wife and I have relocated out of state to Orlando for her job. I left behind my 6 figure income job (which I was incredibly unhappy with) so she may pursue her dream, and hopefully I can pursue mine. While I was going about the dreaded job hunt here in Florida, I couldn't help but wonder if this is the time and place for me to dive into investing and begin the foundation to financial freedom and to break away from the 9-5.

I love the idea of BRRRR, and would love that to be a long term solution for me, but I understand that for the time being perhaps flipping would be a better entry point for me to start gaining income.

I have roughly 30-40k in pocket to get started, but I'm concerned about finding lenders to approve me due to me currently being unemployed. Credit is fine.

For you experts and gurus, I'd love some recommendations on how to go about getting financed, and making this a "full time" gig. Suggestions? Is flipping the right move to make to get started in 90-180 days? OR do I look the route of multifamily.

Where did you guys start?

[Tyler Gibson]

Originally posted by @Dominic Taylor:

After years of "I'd like to eventually do that" and window shopping YouTube videos of peoples success with REI I have reached a point where I think I'm ready.

My wife and I have relocated out of state to Orlando for her job. I left behind my 6 figure income job (which I was incredibly unhappy with) so she may pursue her dream, and hopefully I can pursue mine. While I was going about the dreaded job hunt here in Florida, I couldn't help but wonder if this is the time and place for me to dive into investing and begin the foundation to financial freedom and to break away from the 9-5.

I love the idea of BRRRR, and would love that to be a long term solution for me, but I understand that for the time being perhaps flipping would be a better entry point for me to start gaining income.

I have roughly 30-40k in pocket to get started, but I'm concerned about finding lenders to approve me due to me currently being unemployed. Credit is fine.

For you experts and gurus, I'd love some recommendations on how to go about getting financed, and making this a "full time" gig. Suggestions? Is flipping the right move to make to get started in 90-180 days? OR do I look the route of multifamily.

Where did you guys start?

 If you don't have experience my suggestion would be to start networking locally and see if there is someone experienced you might be able to partner on a flip with. It sounds like you have some cash and time which are both valuable things for real estate investors. This would allow you to break into the market with someone that has experience they may be able to introduce you to their hard money lender and then you can be off to the races on your own. I'm local here in Orlando would be happy to connect you with some other locals.