New to real estate

[DJ Dauphin]

Hey I'm new to the real estate and I'm looking to do my first deal within the next few months. Pursuing flipping houses, buy and hold, and mainly building equity through leasing. I'm located in the southern part of Louisiana and Mississippi and trying to do my 1st deal by mid of next month. Any idea where you think a good starting point would be with <10k of cash or should I get a local mentor to shadow and learn from? 

Thanks BP

DJ

[Adrian Butler]

First I am not familiar with your market.  However, your market may allow for that low of cash investment and you are likely hoping for hard money or other private money.  Despite what you hear on this forum, hard money is not cheap and we are getting into the holiday season where contract labor tends to get a little scarce.  If you decide to bite off on a flip deal between now and mid to late December, you will need to factor an extra 1-2 months carrying costs as the market usually picks back up in March/April timeframe. 

My advice is get a partner to spread the risk of educating yourself on the first few deals.  

Good luck to you.