OK, maybe a couple veterans could help me out...im a first time investors and am wondering about where to go with my first investment..now im from the detroit area which was hit hard and doesnt have the greatest economy so my question would be,in a perfect world lets say that we have 2 identical homes one going for around 5-10k but needs 5 to 10k of work and one going for around 20 to 25 k but only needs a little bit of work...would it be worth it to save a few thousand dollars and but the fixer upper..now i do consider myself pretty handy and have tackled home improvement jobs before and have a pretty good network of experts in the home improvement field...i do plan on making a career out of this and figure we are gonna need the tools anyway as well as the experience....but i believe the first move is the most important which is why i leave it up too some seasoned veterans for help..thank you for your inputsincerely, ME

Long story short, we bought a fixer because that's all we could afford at the time, and sunk $10,000 in doing renovations that, looking back now, we probably shouldn't have tried to tackle at all because we really didn't know what we were doing.

If you do this and tackle that stident laon debt in 2 years you will have a pretty solid base both financially and knowledge wise.

Since fear has been tackled, I'll focus on failure itself.

Figured with the extra money I could save by moving into 2 family I could tackle those next

At the moment I am doing an inventory of all the systems I need to set in place prior to closing and it is a staggering list but one that will need to be tackled.

Hello all,I'm a new(er) investor looking at tackling more renovation projects in the near future.

Not sure if this is something I need to tackle as a new investor, or should I keep looking? 

You probably want to have everything planned out up front, but I think you have bigger fish to fry right now: the two biggest challenges you have to tackle  first are finding a deal and finding a contractor.Inventory and supply have been extremely effected by Covid, while buyer activity level is trough the roof, also fueled by extremely low interest rates.

If you build a solid team around you to tackle the issues, you can turn a problem into a solution and buy into some equity.