Flip or Rent homes? Fastest Path to Six Figures

[Christine P.]

Bigger Pockets Community,

I need your help. No, not money, but advice. I have a career that affords me a good income, however I know, like most of you, that I would like to retire soon or have the freedom and flexibility in my schedule without starving. So getting to my question. I see many of you are investing in SFH and MFH that you are renting out. I also see that some are flipping as well. Both of these are done with a fair amount of money, I know because I have just completed my first flip independent of anyone and made a significant investment, but my goal is to have an INCOME of no less than $6,000 a month and in the shortest amount of time. What does it realistically take to make this happen? As I strategize and plan, I feel that I should continue to complete a few flips in an effort to build my capital to purchase (or make down payments) on the SFH or MFH. Unless I am wrong, I feel with flips, I will not have the stability that I would with renting nor could I use those flips later to get loans for any new projects. Another perspective is to hold the revenue from the flips until I can use that as constant investment for further flips. But again, flips seem unsteady with inconsistent reliability in this market. Any suggestions are welcome, but please, if you only come from a negative perspective no response is appreciated just as much. Thanks!