Quote:
Originally Posted by Iowanian
Are you handy?
I started out with a "3 house plan". I bought the first one...a turd, fixer upper and spent a couple of years remodeling it and sold it for my equity and a little profit. The 2nd house was bigger and nicer and needed less work....and I sold it holding my equity from the first and a small profit. The 3rd house was supposed to be the one I build....but that didn't work out and I bought another big project house...and put a pile of time and money into and will lose some on it when I sell.....because I'm working on house 4...the last one.
My Point....start out with a reasonable home, not out of your league prices and work your way up with improvement and equity as you go.
That's my advice on that topic.
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I am not handy. When you are young, you are either the guy holding the screwdriver or the flashlight. I was always a "flashlight holder" growing up. I am painfully self-aware.
I think you have to be pretty savvy to flip homes in Texas, as the property tax is just nasty. Also, in this market, I'd be happy to hold on to the homes and rent them out. I just need to get into a spot where I can buy my first.