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Updated over 4 years ago on . Most recent reply
Best way to maximize my privileged situation... overwhelmed
Long story short, will have about 100k. I have ZERO experience but want to get started ASAP. I have a burning desire to own multi-family properties but don't know where to start. I've listened to a lot of podcasts, i understand most the concepts, i look around the MLS and loop net for fun... and i have a lot of free time, so i dont need to hire property managers at first. I would do this full time if i knew how.
Not sure if i should learn how to flip... is that too risky for a noob? should i simply put 20%-50% down on a Multi fam building... FHA with 10% down on a mil building... ? is that possible to be cash flow positive on? Should i do a light rehab... should i BRRRR? should i house hack and try to live for free... Very overwhelmed and in such a privileged situation and really don't want to blow it. I want to make this a REAL life changing situation...
What would you do if you were me... (28, male, self-employed, introvert)
Most Popular Reply
![Mary M.'s profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1192608/1621510062-avatar-marym143.jpg?twic=v1/output=image/crop=711x711@0x487/cover=128x128&v=2)
First, dont post on the internet how much money you have. Second beware anyone offering "help" now that you have posted you have x amount of cash.
I would ask mods to edit your post actually
then i would spend some time reading some basic RE investment books.
ETA - any kind of reno work for a complete newbie is going to be risky Best to buy a mf property and learn a bit before diving in. And 20% is standard DP unless you owner occupy