Updated over 2 years ago on . Most recent reply
Starting off with $10k
What are your thoughts as to the best way or strategy to start investing in real estate with $10k.
That is what I have at the moment. I am not interested in fix and flip real estate investing.
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- Real Estate Broker
- Cody, WY
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$10,000 is not enough. Even if you bought a property, you wouldn't have anything left over to cover the mortgage during vacancies, maintenance, etc. You always want a reserve so you can handle emergencies like a long vacancy, replacing the roof and furnace, etc. It takes a while to build a solid reserve with cashflow, so I recommend you don't spend your last dime on the purchase.
Educate yourself about owner financing and how it can benefit the owner/seller. Then find deals off-market and make offers where the owner carries the mortgage and wants $0 down (or very little down). Watch this video for one example:
- Nathan Gesner
