Lessons Learned for First Deal?

[Nick P.]

Hi all- 

Brand new to real estate investing and going back and forth on doing a house hack or purchasing a STR for my first property. I was hoping to get a couple of helpful pointers for narrowing down the STR property search. Any key things to absolutely avoid/common mistakes or any things that I should absolutely want/typical contributors to success? Also- any insight to if condos or SFHs are more likely to succeed- or is it more dependent on other factors? For context, I'm looking for properties along the Florida east coast and the focus is on cash flow.

Any and all pointers are welcome- different perspectives/ideas are also much appreciated. Thanks!

[Sarah Kensinger]

My suggestions from our real estate journey...

1. Learn all you can about the strategy/strategies you are interested in, and never stop learning no matter how long you've been doing it!

2. Find a mentor that has similar real estate goals as you and soak up all you can from them.

3. Learn about creative financing....preferably before you purchase your first property.