I am new to the real estate business and have greatly enjoyed reading and learning from all the postings. How do you find good deals? Is it possible to find enough good deals to make it worthwhile in a small town like Rapid City SD? The real estate market here is in good shape with about 5% increase from last year. Should I be looking at flips or rentals? I can do the maintenance and fixing myself. Which is the better option?
There is no better option. The question is what you’re trying to accomplish. Are you looking for monthly income so that you can replace your job with your real estate business? Are you just lookiing for some occassional cash? What are your goals?
I am looking for residual income and long term wealth building for retirement. I would like to someday quit my job and do my own business full time but that will be far out in the future. 10 years or so but I would like to work toward that. Problem is my credit is not great, no money to put down but willing to work and do what it takes to succeed. Have owned businesses before and make over 100k from my current job so I am no screwup, just someone interested in living more comfortably and to be prepared for retirement in 30years.