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Updated about 6 years ago on . Most recent reply
Getting Started in St Louis
Hello All,
I am in St Louis area (west county) and am wanting to get my foot into real estate investing. I was interested in whether i should look to flip first or to invest in a rental. My goal is to build a business and be able to leave current job. I know this will not happen over night but would appreciate anyone's comments or thoughts on the best way to proceed. I have found BP to be a great source of info. I have flipped 2 properties years ago but was very lucky that the properties fell into my lap due to family. The appeal of a flip and potential for a quicker lump some return is nice but the long term of the rental has just as much appeal for the future.
I will have roughly 80k-100k to start but would like to know what everyones thoughts are on buying cash or financing? I could ask a hundred more questions but would appreciate any info.
Thanks
Jeff Hartman
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#3 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Originally posted by @Jeff Hartman:
Hello All,
I am in St Louis area (west county) and am wanting to get my foot into real estate investing. I was interested in whether i should look to flip first or to invest in a rental. My goal is to build a business and be able to leave current job. I know this will not happen over night but would appreciate anyone's comments or thoughts on the best way to proceed. I have found BP to be a great source of info. I have flipped 2 properties years ago but was very lucky that the properties fell into my lap due to family. The appeal of a flip and potential for a quicker lump some return is nice but the long term of the rental has just as much appeal for the future.
I will have roughly 80k-100k to start but would like to know what everyones thoughts are on buying cash or financing? I could ask a hundred more questions but would appreciate any info.
Thanks
Jeff Hartman
Welcome to the site Jeff. If you are doing a rental I'd recommend using financing. You can get 4x the properties. If you are flipping margins are tight in this market so i'd recommend buying cash if possible.