Hey, I acquired $5000 from a bet a friend owed me and was wondering what would be the best way to invest the $5k in real estate for the biggest and fastest return? Like..is it possible to flip this $5k into $20k? Or what would be your strategy.

This isn't really a get rich quick business. To turn $5k into $20k on a "quick flip" would be rather difficult even for an experienced flipper. I started wholesaling almost exactly a year ago with about $1000, and I've now done 16 deals and spend $3k-$5k/month on marketing. That being said, it was certainly not "quick" or easy for that matter. Wholesaling is something you have to do consistently for at least 6-12 months to see the full value of your marketing campaigns. All that being said, if you want to get into wholesaling, use it on marketing and business start-up costs.

I would take 10% of those winnings ($250) and put it into gas money for a few local REIA events (no guru stuff), some used books off Amazon that get recommended repeatedly on BP and Podcasts,( i really enjoy audiobooks), and then buy a seasoned investor lunch (I hear St Louis BBQ is great) with a few prepared questions in mind.....that leaves $4750 to deploy in a more focused way that matches your style and personality. Tell your family what you are doing so you know they will ask you about it at a later time.....instant motivator to stay engaged in RE learning process.

I would save the money towards the down payment of an FHA mortgage which only requires 3.5 percent down. I would purchase a four unit property and live in one unit - hopefully free. I would get the experience I need to purchase more properties. I would ask the seller to paying the closing costs. There are so many people here and research here to learn and educate yourself for free!

Well since I'm looking to get started in Wholesaling, I think I'd use for my marketing budget. I think that could last me a solid 4-6 months :)

Investing $5k in RE education when everything here is free? Anyone else?

@Nicholas Hubbard A couple of suggestions on house to invest $5K just if you're new to the industry. 1. Education - Of course you can enroll in a number of classes but don't underestimate the value of the books and resources out there for ~ $20. Check Bigger Pockets Blog for a great list of books. 2. Owner Financing - Personally I've had great success in my area (Raleigh, NC) over the years seeking out Landlords who may be interested in retiring, slowing down, or selling out completely. With that said, I've negotiated a number to owner/seller financed deals for a little as $1,000 to $5,000 down where the owner finances the balance. However, remember that thought must be given to the amount of remaining fees (closer related) and repair (and related) cost before determining that the deal is valid or not. I hope this helps. Best of luck. Kelly Edwards The Edwards Companies - Investment Real Estate Group www.TheEdwardsCompanies.com

I agree with the Marketing approach since I'm current ramping up my marketing campaign right now.

@Nicholas Hubbard I would invest the money into marketing. You could invest 500 a month in direct mail and get 10 times the returns with wholesale opportunities. If you lock a property up for the right price buyers will come out of the woodwork..

I'll jump off the band wagon and recommend against 5k into marketing. After finding wholesaling wasn't as easy and free as the gurus claim it is I'm not big on the wholesaling bug. Its so much information and strategies you need to know. I definitely recommend what @Richard W. suggests. Take others out to lunch, pick their brains, offer to help out and hopefully you can find a mentor to work with/partner with. Its only 5k, it is a lot but you've done well without it as well, so you could offer to help out on a current rehab and take part in the process. I ended up doing this similarly by lending some of my own money and I learned a TON and made some money doing it. You could also go the private money lending route. Find a trustworthy investor with some tracked experience and that 5k can get you a 6-8% return. BTW, I'd be glad (hint hint) to help you get that return.

How would you invest $5000 in todays RE market?How would you invest $5000 in todays RE market?

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How would you invest $5000 in todays RE market?

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