My first investor oportunity

[Ivelisse Matos]

Hi everyone, I am new to bigger pockets. I been a kitchen designer for 15 years, and 9 months ago I went freelance to have more time for my dream, which is real estate. LOL spent too much time looking at houses for sale, might as well convert my passion to money.

I have the opportunity to buy a house cash that is not more than $20,000 so I can have money left to fix it up. So here is my dilemma, the house will be either in Sanford, FL or Orlando, FL. Should I fix it a little and rent it out under section 8, or should I flip it to make extra money and buy a better house cash?

My husband likes the idea of renting it out, but since I have ways to spruce places up and make them presentable, and cabinets will be no problem, I think it will be better off to flip it. That way we don't have to deal with tenants.  So which one is a better choice for a first time investor?

[Mike Sedlacek]

As a first time flipper investor I suggest not to purchase rental single family houses untill you have in a savings account, designated for investing, at least the amount that will sustain you for one year. Simply because tenants can cost you alot of money while you learn from your mistakes. Also you'll need money for to support the house untill you can catch up with the year expenses owning the house. In other words it is  wise to have a cushion to fall back on so that you are not strapped for unexpected expenses or misjudgements on expenses.