Different Types of Investments

If you're looking to invest in real estate there are a few ways to do so.  We're going to talk about a couple today! Flipping and rental income. 

Flipping.  So if you're interested in flipping, there is of course risks and rewards.  This process is finding houses, under market value, that are in need of minor to massive repairs, cosmetic updates, or complete gut jobs depending on what you're searching for and how much work and money you want to dedicate to flipping.  To flip you will need cash.  Not just financing, but cash on hand to buy properties.  This gives you the best deals. You will also need to have skills or professionals you know will work with your budget and provide quality work.  And you need an inspector who can give you a good and fairly accurate estimate of repairs. 

Rental Income.  Purchasing rental properties is an amazing way to build up a passive income.  By renting you are making money every day with little work.  To be a landlord you must be familiar with rental laws, keep your houses in good repair, have funds available for immediate repairs (you can't put off fixing that dishwasher for a week when you get paid, your tenants expect it done fast.), and be prepared for tenants to not take care of your property.  When a tenant moves, you may have repairs to take care of such as new carpet, holes in the walls, furniture that has been abandoned or ruined, trash to haul etc.