Should I get into contracting with a flipper or custoM home builder for 50k a year 1099 and start my own llc and be a “real estate professional” and learn the ins and outs while making less money at first,  or take a sales job 9-5 that makes 150k a year w2 and build up capital first. 

We invest in this space.

I’m Daja from Detroit, and I’m new to real estate investing.

Investment Info:Single-family residence wholesale investment.

You can put a little as 5% down payment for conventional or 3.5% for FHA.Alternative way, is to acquire the 2nd property as an investment property with conventional, while putting 15%-25% down payment.

There are so many ways to make a mistake during the process and so many ways to leave money you’re owed on the table, especially with loss of income claims.

Does the city / land bank try to make money off of these lots when they allow developers to buy them?

So far, you guys have helped me find the motivation to purchase my first investment property, find the right management software, and now I'm marketing my triplex.

Investment Info:Mobile home fix & flip investment.

In that case you could live in one (assuming you qualify of course) using owner occupied financing on that particular property and investment financing on the other three.