fixer upper and a mortgage or a distressed property and hard mone

[Katherine Ayvar]

Hello,

I am a new real estate investor. I got pre-approved for a mortgage.

I am looking to start right now with a fixer upper multi family property or single home in the middlesex or essex county. In the following months I plan to purchase cash and use the BRRR method.

Or should I start with a hard money for a distressed property (paid in cash)?

Please let me know any suggestions.

Thanks,

Katherine Ayvar RN, BSN

[Nicholas L.]

@Katherine Ayvar you mention a mortgage, cash and hard money in your post; are you leaning toward one or the other? I would not use hard money on your very first purchase, it's very expensive and they may only loan to an LLC and not you as an individual. Do you have enough cash for living expenses and reserves?