11k enough to start?

Question

Bryan O. · Answer

Thanks @Steve Vaughan. I was going to say the same thing. There is no reason to keep posting the same 2-line question. Did you not read the replies to the earlier one?

Steve Vaughan · Answer

$11,00 in Europe means $11.

If you are going to re-post the exact same thread again with the same limited info about yourself, at least let people know it is a re-post and what you have learned so far:  https://www.biggerpockets.com/forums/12/topics/356...

Congrats on saving some coin, Cody. Congrats on trying to start so young.

Share more info about where you're at and what you hope to achieve.  The 'real estate business' is way too broad.

Abhi Golhar · Answer

@Cody Blackburn - awesome man! If you wanted to fix and flip, that amount can or cannot be enough, depending on financing and the terms of the deal. Generally for me, I wouldn't fix and flip with only that amount. I would use some of that capital for earnest money deposit on wholesale deals that you can lock down and flip to other investors. The more you do that, The better off you will be initially. And then as you grow your nest egg of financial resources, then start doing fix and flip deals that net a significantly larger profit margin.

Prince Patridge · Answer

You don't need money to start in real estate, but yeah 11k does is more then enough if you want to do fix and flip, just got to have the right financing.

Account Closed · Answer

Market FOR a rehab? How do you intend to find it?

Account Closed · Answer

Ok how do you intend to market for that?

Jesse Stephenson · Answer

I'd consider getting your real estate license after you graduate, good way to learn the market you are in and to learn from selling homes to other and make those commissions to save up towards your purchases.  Also you can try to buy homes using little to no money down strategies like lease options and subject-to.  Try to only put like 1-3k down and then hold the rest of your money as reserves to make mortgage payments when the homes are vacant or for repairs..

Account Closed · Answer

@Cody Blackburn that sounds completely awesome. Thought about starting to wholesale? Where are your thoughts as to strategy?

11k enough to start?

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