I hate to ask this convoluted question

[Ramada Evans]

I would love to hear the opinions of the best way to go about first investment property (rental, flip etc.), and success stories from first deal versus fails.

I just want to get a good idea of which direction is really the best as a newbie finally ready to get in the game. Being trying this on and off for many years and having a hard time financially to put my foot in wholeheartedly. Really want to minimize the risk and get rewards early on but I know that’s easier said than done.

Thank you all in advance for the community and knowledge.

[Larry Turowski]

@Ramada Evans It sounds like you are ready but haven’t educated yourself enough to know how you want to proceed.  Rentals provide the lowest barrier to entry and require the least education. I still wouldn’t jump into rentals without adequate education, but it is harder to make a colossal mistake the way you could with flipping. I’d definitely warn you away from try a flip without really knowing what you are getting into. 

I started out trying to flip an inexpensive underperforming rental property. Worst case scenario, I’d have a rental. Worst case happened. But I learned about hiring contractors, putting together a scope of work and dealing with tenants. 

I have since bought plenty of rentals, flipped lots of properties, and wholesaled a few. Mistakes happened and I’ve made my fair share along the way. Keep your eyes open and minimize your downside.