As a beginner investor based in the Seattle metro area, I'm eager to learn from your experiences and share my journey as I get started in this field.My current strategy is to focus on live-and-flip for the first three deals (looking for my second deal) to gain hands-on experience while building equity and learning the ins and outs of renovation and the local market. 

Risk mitigation is crucial, and learning from past experiences is beneficial.

Address Your Financial ProfileBridge the Revenue Gap: Highlight your equity in the duplex and use your sale proceeds to demonstrate “skin in the game.”Partner to Compensate Experience: A financially strong and experienced partner can help offset your limited track record.Focus on the Land Deal: Secure the land at a good price, as it’s a crucial step in gaining credibility and attracting partners.Final ThoughtsYou’re entering an exciting and impactful space in real estate development.

In my experience investors love talking about investing.

These groups are goldmines for finding mentors, reliable vendors, and other investors to learn from.Property ManagementChoosing the right property management company can make or break your experience.

Once you get more experience, you can expand to out of state.

@Robert Spiegel Great question, and it’s always a balancing act when dealing with long-term tenants who’ve been fantastic overall.Based on my experience managing over 1,200 rental homes in North Texas, including areas like Dallas, Fort Worth, Plano, and Frisco, here’s how I would approach this:Cleaning Charge: While $540 may feel steep, it can vary depending on the size of the property and local market rates.

Do you have any RE experience?

Because the chances of successfully concluding a wholesale transaction when you lack experience, knowledge and capital are so infinitesimally small that you’d be better off playing the lottery.  

I'd love to hear anyone's experience in the construction of a duplex on land.