I have never invested in real estate before. My wife and I decided that we want to invest some of our savings in real estate. We would like suggestions from people what they recommend to start with. We have aprx. $65K to invest. Do we do tax liens? deeds? multifamily? flipping? etc and where?
We have a friend who bought a 4 plex and is making money renting it out. He has a person manage it which I like. Problem is in that area there are not much 4 plexes that make sense to buy.
All feedback is appreciated.
Continue to read and learn. Discuss w/ your wife, go to RE meetups, and determine what strategy works best for you. Getting into the market you are going to invest in. The more familiar you are, the quicker you can recognize value.
Hello Mark, welcome to the greatest investing site this is! First off congrats taking the first step toward an amazing opportunity. When it comes to investing it is really all preference. Some people like fixing up houses and flipping them up (turning nothing into something feeling). Multi-families are great if you are in a market or know a market for that aspect of investing. My suggestion would be to check out the "How-to" guides in the "learn" drop down tab, and read do some research because you know what will work for you. No matter what choice you pick you have to find deals so do something you like.
If you have any more questions or anything feel free to contact me or post on the forums everyone is extremely helpful and some have been in the game for a LONG time.
Best of luck in your investing journey, wish you all the success.
@Mark Resnick welcome aboard! Over the years have done buy and hold, flips, and tax liens...to me I like them all but each has timing issues as to when they are right and are based on your location. My true belief is to find what you like and if married or have a significant other, find what will work for the two of you. Don't rush, read, find mentor, partner, get $, professionals, etc lined up. Take your time, get a plan set, implement and review the plan and change as necessary. Every one of us has a slightly different plan even when we are doing the same types of things, I always have an exit strategy and equity before I purchase anything. Many leverage and are full speed ahead, I prefer to move slow and be methodical, plus our goals and motivations are all different. Read the threads on if I had "70k" "100k" wanted to have "100M" and they will give you quite a bit of insight. Best of luck in determining your path, keep us informed and ask questions along the way!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!