Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
What to do with $15K??? I have been mailing letters going on 2 years attempting to wholesale and 0 deals to show for it. I have been funding this with my paycheck from my full time job. I am about to come into $15,000 and would hate to use all of it attempting to wholesale with nothing to show for it. Any words of advice BP? I would greatly appreciate it. My long term goal will be to acquire rental income properties in order to retire from my full time job and enjoy my later years (I will be 45 this year-ugh!) with my beautiful bride, my awesome kids and my grandchild who is on the way!
Tampa, FL · Member since 2013 · 36 posts · 15 votes
9y
Jorge,
If you haven't gotten a deal yet, your marketing or negotiation tactics need adjustment. Send me a pm if you'd like to go over what you're doing together on the phone.
Sylmar, CA · Member since 2017 · 47 posts · 28 votes
9y
Originally posted by @Account Closed:
@Richard Duong Thank you. I am well aware that with $15K it is pretty impossible to do anything, that is why I was asking to see if anyone had some creative ideas. I think my best bet is to make it grow in order to invest in something that will make it grow all the more. If anyone out there has any ideas I'm all ears.
Not sure if this is "BP" apporpirate, but have you considered other investment oportunities? I currently have about 30K in another investment that I am growing that also pays me monthly (passive cash flow). The most important aspect of an investor is to have the mindset and to look for opportunities wherever they may be. Either way, would definielty like to connect with you being in LA. I am currently looking elsewhere to invest in.
San Francisco, CA · Member since 2016 · 193 posts · 98 votes
9y
I think putting your money into a rental would be a great start on your real estate investing. Whatever you are doing with the wholesaling STOP !! Reevaluate the process and educate yourself more about the market you are trying to wholesale in. In my opinion 2 years is 2 long to have put out so much money with no return. Maybe hookup with other wholesalers in the area and have them show you the ropes !! Network my friend! Hope this helps.
Flipper · North Olmsted, OH · Member since 2016 · 7 posts · 7 votes
9y
Buy and sell to create cash Buy and hold to create wealth.
You need to learn to raise fund, look for deal, whole sale, partner, and maybe flip house to create some cash.
Then you can start on investing in rental properties, and rental has a lot more to know about than just to buy a couple of duplexes and then rent them out. If you have been mailing letters for 2 years and 0 deal shows, you definitely need to learn from those with results cause you method need adjustment.
Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
9y
Thank you all for your input. @Donny Widjaja sounds good but as I have been researching and thinking thru what strategy I would like to execute I think I would like a bit more control. @MarieChele Porter I am already looking into investing out of state.
Real Estate Investor · Atlanta, GA · Member since 2008 · 19 posts · 1 vote
9y
There are some great ideas posted here. But they all depend on someone else's ability and willingness to work with you. Here's what worked for me to grow my account..
I started with 15k also.
1. Tax auctions
2. Options trading
3. Micro lending
Hope that helps. It's a slower path, but you are having a grandchild so you have time..
Investor · Atlanta, GA · Member since 2015 · 42 posts · 14 votes
9y
Buy a mailing list of prospective real estate investors in your area and do a mass mailing. It's a numbers game, so the more you send out, the better your hit rate.