We live in Central FL, in Umatilla, and are looking to flip our first home. We will have around $60,000 to invest. Ideally would like to break this up into multiple deals.
Is there any advice for someone starting in 2024 with the way the market is? Any success stories as we are feeling less then optimistic currently.
We have plugged in a few deals and made it work but they were all on the HudHomes website and most don't even have contact information. We want to begin our real estate investing journey soon and aren't sure where to start.
The problem with rentals is not enough cash flow initially. We would be looking into rentals down the road as we gain capital to create and build passive income. The exception to this would be multifamily opportunities but I don't think we would have enough to really do what we want with. The goal is to replace 1 persons income, for now, and pricing on multifamily seems too high at the moment to be able to accomplish that without more money on hand.
I've been in property management for around 4 years and my husband is with the same company in the renovations department. We have the skills to do most on our own. We thankfully wouldn't be contracting out much but roofs and electrical. Then, I will manage most of the overhead and when we get to renting I will handle the property management.
We are looking for any advice and possible connections. Thank you!
