OfflineI am still reading and preparing myself to try to get into my first deal. Any thoughts or opinions on doing a fix and flip for my first deal? Fix and flips have always been my dream career. Should I dive right into that or pursue something a little smaller to get my feet wet first?
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My first deals were fix and flip. Loved it, made good chunks of money. It is risky; it requires cash/credit. It is "better" to start with wholesaling - no risk, none of your own money, don't need good credit. Excellent way to learn and make money!
Blessings & Favor,
Gena.
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I can do all things through Christ who strengthens me. Phil 4:13
Psalm 1:1-3
As Gena said above,you need cash/credit, they have nice profits, BUT, you have know costs of repairs, timelines of completion and good contractors, market the propety if you don't have an end buyer in place.
Its easy to go way past deadlines, cost more than expected and get cheated by contractors and more...so be prepared.
Mike
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