I’m new as an investor in real estate. I haven’t brought anything yet buy my main interest is in buying a piece of property (house) and flip it. However, a co-worker of mine suggested I should buy & hold. If I buy & hold wouldn’t that mean I would have to rent the property out in order to receive a monthly cash flow?
latestarter56
Howdy Latestarter56:
You could buy and sell on a lease purchase or even owner finance the sale. Buy and hold usually means rental property. I buy cheap property to lease out. Kind of hard to buy a house for $500,000 and rent it for $2500 per month and make and cash flow. I just did one for $20,000 that I rented for $500 per month.
Thank you for the info
By-the way…are there any cheap properties in Austin, TX?
what do you consider cheap?
Well compared to Calif. almost any thing is cheap. But to answer your question, between 40,000 - 90,000.