Choose a strategy before a property
A good flip is not automatically a good rental.
A flip depends on purchase basis, rehabilitation execution, resale demand and time. A rental depends on recurring income, operating cost, financing and the ability to handle vacancies and repairs. Decide which strategy fits your cash, expertise, time and risk tolerance before chasing a discounted price.
Separate investment capital from family emergency reserves. A projected return is not a guarantee. Model conservative, base and adverse scenarios and identify the event that would make you walk away. Hiring a broker, contractor, inspector, lender, lawyer or accountant solves different problems; no single adviser replaces the others.
Define the strategy, constraints and walk-away conditions first.
PUT IT INTO PRACTICE
A home seems cheap but you have no rehab budget.
Choose flip, rental or both, and state the conditions each exit requires.
Sources + Georgia context
Practical planning suggestions are original BJA learning material. Legal and program references are linked below. Verify current rules, local requirements and your documents before acting.
Answer the knowledge check correctly to complete this lesson. You can explore lessons in any order.