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Updated almost 6 years ago on . Most recent reply

User Stats

13
Posts
4
Votes
Janine Kelbach
  • Rental Property Investor
  • Willoughby, OH
4
Votes |
13
Posts

Best investment strategy when starting out?

Janine Kelbach
  • Rental Property Investor
  • Willoughby, OH
Posted

We are starting in real estate in Northeast Ohio. We have a HELOC we're using to fund our first property. The ultimate goal is for my husband to work this full time at home. My question is,

If the end goal is working from home (he's at a 9-5 currently and I'm an RN who works 12 hour shifts), what approach should we take? 

Flip and hold? BRRRR? Turnkey?

We would love to connect with more sellers! How do you find your off market deals? We are starting an absentee list and contacting the owners to offer cash, but other than that, we have been on the MLS and Zillow etc.

Janine and Adam

Most Popular Reply

User Stats

126
Posts
42
Votes
Chad Kastel
  • Rental Property Investor
  • NY
42
Votes |
126
Posts
Chad Kastel
  • Rental Property Investor
  • NY
Replied

@Janine Kelbach I purchased my first two properties mostly turnkey. If I had to go back in time, I would've spent a little more time learning how to estimate rehab's and find a BRRRR strategy. Maybe not a full scale rehab, but something that anyone who does some studying could handle, like kitchens and bathrooms. Without knowledge I figured that doing so would be more than I could've handled, but it wasn't. That being said because of your jobs you should have your time well planned out for who is going to deal with the construction people and have a contingency plan for when things go wrong.

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