New Investor Ready to get Started!

[Kristen Reyes]

Hey All!

My name is Kristen Reyes, and I am from Crown Point, Indiana. I am excited to get into real estate and looking to invest in various areas of NWI. The towns I am looking in are: Merillville, Crown Point, Cedar Lake, and Lowell Indiana. 

I currently am an eCommerce business owner, which works great which allows me to be a work at home mom, but I want to diversify and add additional streams of income. My first major milestone is to generate 4,000 in passive income using long term holds so my husband can quit his W2 job. At this point he can quit and we can feel safe to keep reinvesting.

We are looking to BRRRR our properties. We would love to connect with real estate agents/contractors from the area. It would be great to build a team and hit the ground running . Our goal is to buy our first property in 2 moths!

A question for all the experts: 

Since our goal is to have the most passive income- regardless of the amount of doors- I was thinking that having more equity in each property would mean a lot to us. Any opinions and advice on the following plans would be appreciated.  

1. Start with a flip. Use the profits to pay off our HELOC and with the rest of the profit using a 1031 exchange to invest in our first buy and hold. I was thinking that would be a great way to get more equity in the property because wouldn't have to pull it all out to pay off the HELOC.

2. ORRRR should I go straight into doing a BRRRR?

Thanks for reading and super excited to be part of this community.

Kristen