First deal opinions.. rehab or rental?

First deal opinions.. rehab or rental?

Realtor · Member since 2018 · 54 posts · 7 votes
So my partner and I are in a big debate. People have their different opinions and my realtors friends and the people I talk to all have different opinions. Any response is appreciated. We are looking at multiple properties. Some with tenants, some without. Some people suggest buying a home, rehabbing it, selling, and reinvest the profit. Some also say so buy a property with a tenant, fix it it, sell it. I’m more so attracted to multi-family property. We are also looking at a duplex. As our first deal I’m looking for the best option so we can get moving, save profits and add more and more properties at a time into our portfolio. Thank you all so much.
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  • Flipper/Rehabber · O'fallon, IL · Member since 2018 · 67 posts · 28 votes
    8y

    No option is better than the other: know the liability of buying with a current tenant, know the cost of flipping with or without a GC, know the numbers for a multifamily with vacancy.... just a few things.   No option is more lucrative, only the deal you make is or isn't.  

  • Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    8y
    @Darren Nardo what's the end goal? Knowing that will help you take the first step
  • Realtor · Member since 2018 · 54 posts · 7 votes
    8y
    @Jason DiClemente sorry for the late response. The end goal is really just to be able to build up our worth to where we can start having rental properties under our belt while still rehabbing and flipping. Just trying to generate passive income.
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