Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated 7 months ago on . Most recent reply
![Marc Young's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3048076/1718148218-avatar-marcy17.jpg?twic=v1/output=image/cover=128x128&v=2)
First time investor which direction do I go?
OK here’s my question. I want to get in to real estate investing and this would be my first time. If I had to pick which direction I should go if I want to make this an ongoing thing. I have 30 K in the bank and I can’t decide if I should buy a rental or a flip. I know there is pros and cons to both with the rental. I don’t want to have to wait a long time to save more money to buy my second one. With the flip I am very handy, but I would hate to get into something, not knowing how much It’s all going to cost. If you were in my shoes as a first time investor, what would you do? I have used the tools on the website and they have been fantastic but I just don’t know what direction I just need to go.
Most Popular Reply
![Travis Timmons's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2219568/1706891064-avatar-travist135.jpg?twic=v1/output=image/crop=785x785@0x129/cover=128x128&v=2)
- Rental Property Investor
- Ellsworth, ME
- 1,975
- Votes |
- 954
- Posts
If you are going to do a flip, do a live in flip with the plan of living there for 2 years to sell tax free. You get the benefit of 2 years+ of appreciation, tax free gains, protect yourself from buying in a crappy neighborhood because it looks good on paper - you're going to live there...the best test for a good investment location is if it is a desirable place to live - and your risk of running out of cash is lower because you can take your time. It sucks to live in a job site, but if you can take it, it's a worthwhile pursuit. I'm on my 3rd one right now (41, married, and 2 kids - just trying to remove that excuse).
A traditional flip simply requires more cash than you have. Finding some sort of owner occupied house hack-ish option seems to be the most realistic path so long as your debt to income ratio is solid/lend-able.
Feel free to send me a message if you think that I can be a resource. I have nothing to sell and would be happy to help.