Happy Wednesday all!

I am new to BP and have recently taken a dive headfirst into learning all about REI and how I might be able to leverage some of the investing strategies to create passive income into retirement. First and foremost, I'm located in the small (but mighty!) state of Delaware, I have a 9-5 job that I plan to keep, 2 young kiddos, and am currently exploring the Dover area as a potential target market. I'd love to connect with other investors in the area to learn about your experiences if you are willing to share!

Second, I am starting to define a very rough business plan/goals for investing, and wanted to float two potential strategies with folks who have more experience in the field. Ultimately, my desire is to not necessarily make REI my full time career (although if things go well, I'm open to it), but to look towards creating an extra passive income stream in retirement to act as extra padding for our 401k/mutual fund set up. Not looking to create an empire, just some flexibility. With that in mind, my goal is to acquire (min of) 10 rental properties in the next ten years to buy and hold. We have ~$30k liquid cash to start from a leftover HELOC we used for some other primary residence renos, with an extra $100k in equity we could look at tapping into if needed.

With that said, I'm debating between trying to flip a couple of houses first, then convert to a BRRRR strategy vs. just trying to start off with a BRRRR strategy from the get go. The thought with doing a few flips first was to potentially grow a bit of a nest egg (that's not tied to our home) to serve as the foundation for BRRRR, vs starting with BRRRR and potentially having that money tied up for longer/risk having rates rise when trying to re fi and cash out the equity. Can anyone chime in on any clear pros/cons on either strategy within the context of our goals? I just want to make sure I'm considering as many factors as possible when developing a more robust plan!

Looking forward to connecting with everyone!

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