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New investor considering different paths
Hi, I am a new investor. I have never done a deal but have been reading a lot and listening a lot about many strategies and methods of investing. Currently I am wanting to get started investing. I have my initial funds lined up for at least a first deal depending on the strategy. The three strategies i am looking at are the follow:
1- BRRRR - this is the most enticing since you could start potentially on a single house and take it one rental at a time but it also seems more time intensive and in utah it seems even more challenging to find a home to buy, rehab and then be able to refi and pull your capital out.
2- house hack a multiplex- I like this because your capital can go further since you don't need as large of a down payment and you can typically get more doors per $$.
3- turn key distance single family - we have talked to a local brokerage, Ron Phillips, which offers turn key homes mostly in the Midwest at better rent to price ratios than Utah. I had a friend acquire two homes from them and has had a great experience but this is the most capital intensive for growth.
My goals are mostly focused on cash flow and scalability for growth. Any thoughts or insights welcome.