Buy a rental OR Build a spec home

[Justin Sherfey]

Hello BP!

I’m a 20 year old college student looking to either buy a rental OR build a spec house with my dad. I live in Spokane, WA and was looking for advice on which to do first with today's market. I have about 70k in the bank. A spec build would have a cash on cash return of appropriately 75k over a 9 month period (if all goes as planned) and for a rental to work I'd need $200+ cashflow and 15%+ ROI. At the moment I do not qualify for bank financing because I do not have two years of provable income (I'm a musician). Any ideas on which path to take in today's market?