Starting point for flipping

[Shawn Munoz]

Hey, I am ready getting started in real estate investing. At least I hope I am. I just need some opinions. I wanted to start with buying a single family home to rent out. I am located in Vineland NJ and there are houses with loads of potential for around 40-60K. I have 7K saved up for investing. Should I wait and continue saving? Or do you think this is a safe amount to start with?

[Joe Villeneuve]

Look for partners with cash that don't want to get their hands dirty.  Start out flipping to build up your cash (don't spend it).  Once you've built up enough cash, continue to flip, but use the recovered cost of buy/rehab from the flip to buy/rehab the next one.  Use the profit(s), to buy cash flow houses.