Low budget Investing Ideas, help.

2 Replies

Hello BP money geniuses, So I started saving up money last year so I could buy a car and after almost two years of flipping burgers, I have finally raised just 5k. But now that I have the money and can finally get a car, I feel so bad to just spend all of it on the car. It feels like I will be starting all over again. Is there anyway I could buy an asset or invest in anything that will generate some income that will eventually get me a car while the money still works? I'm well a ware that 5k not much and if anything at all here and could never do anything in the actual real estate (realistically??) . However I'm hoping some one out here was once in the place that I'm in now and can hopefully share their knowledge on how they did it :) Thank you and anything is appreciated, honestly.

In a situation like yours the best you could do with 5k is house hacking. I would recommend looking it up on BP to find some really good article. Start talking with lenders who do FHA financing for first time home buyers and see if you can find some no money down programs that could be of assistance. I would also find a Realtor who may be able to help you start looking at 1-4 unit properties.

Another thing I would do is driving for dollars and you could wholesale properties. I would definitely not recommend doing a mailing campaign as that could burn through your 5k really fast. Again, look for some articles on driving for dollars as there are some good ones out there.

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