Best for cash at closing?

[Joel Parrilla]

Hello BP, I've recently quit my high paying job to pursue REI full time. I've read a lot of blogs and strategies to follow and I've reached a conclusion on flipping and BRRRR as a good combination for building wealth in real estate. My wife and I have savings which we are using to sustain us until this new path picks up, we are fully committed to following this path for success. My question is, should we focus on flips year one and start BRRRR on year two? I believe that is the best idea because we can get "immediate" cash when we close on the flips (for income and saving to invest back in), as oppose to gradually building cash flow on the BRRRR. Or can you also get "immediate" cash at closing doing BRRRR?

P.S. I spent an average of 30 mins a day with my wife and kids, after 18 years of it increasingly getting worse, we decided it was enough. It was time to pursue REI for my health and the well being of my family.

Thanks in advance 

[Jason D.]

@Joel Parrilla Both are very capital intensive, but flipping for income is probably the best way to make an income. Refinancing the BRRRR with no income will be nearly impossible if you're just starting out. Keep in mind that you'll also be looking at 40%+ income tax on flips so plan accordingly.

You mention using savings to get by while you get started. Are you also using savings to fund the flips?

Why not just find a job with better work/life balance while doing real estate on the side? Having steady income will make your journey so much easier.