BRRRR vs. Flip (Rockland & Westchester Counties, NY)

[Nicholas Aiola]

Hey guys, My intended avenue of investment is buy & hold (multi-family units), but I don't have the capital currently to jump right into that type of investment given the prices of multi-family homes in Rockland and Westchester counties (New York). I know that a fix and flip would yield some up front cash, even after taxes, but I have no experience with flips, nor do I have a network of trusted subcontractors or even a trusted GC. It's daunting to get a loan from a hard money lender without the experience or network to execute a seamless (more or less) flip. On the other hand, the BRRRR strategy seems to align more with my overall goals, although I still face the problem of being a newbie to rehab projects. Either way, hard money loan & other holding costs add up QUICKLY, so I'm trying to soak up as much knowledge as possible before embarking on the journey. Has anyone been through the same experience/arrived at the same crossroads? Thanks in advance for the help and advice!