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Updated over 13 years ago on . Most recent reply
Question for Experienced Investors please..
Hello everyone. I'm just wondering, which of the two strategies will make someone very wealthy? Rehab or Renting out in this market? I've been lucky enough to accumulate a decent amount of cash from wholesaling and rehabbing, but feel like it's a very tough business in this market since if I don't flip houses then I don't make money. Does it get easier with rental properties? Which is the better way to go about this?
Thank you so much.
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While you can make decent money rehabbing/flipping, it's unlikely you'd make enough to get "rich" (at least based on my definition of rich).
Holding rentals is a great way to build long-term wealth and passive income, so if your time horizon is a decade or two (or three) out, and if you have the cash/credit/income to accumulate some properties, buy-and-hold is probably a great strategy.
And as Chris said, combining the two is a great way to go -- using rehabbing to generate income and then plow that income into rentals.