Starting out with meager amounts?

Question

I have about $10,000 stashed in some investment account that matures in June.

Firs the government will get it's dibs (sigh), then I'll get in my hands, and I'm hoping I could use that money to invest some sort of Real Estate.

I've heard people start out by investing in Tax Liens? Is this true? Is it safe? Should I form an LLC for it?

If I do start an LLC, is there any good state to start in it? The state that has most laws "for" the LLC, protection I mean, and for it's individual owners would be helpful.

Claude Hodge · Answer

Hayden, first off, welcome to the site!  Next I will tell you that I wouldn't consider 10k "meager".  You can do quite a lot with that if you use it properly, and depending on what type of investing you want to do.  I also want to repeat that you should spend lots of time here.  You have until June to make up your mind about what you want to do, and trust me: this site will have the answers and advice to everything you have asked about already.  Good Luck!

Claude

Harvie Arington · Answer

Welcome to Bigger Pockets! As the saying goes..."There's more than one way to skin a cat." I would suggest that you dig in to this site and learn as much as possible about the many different ways the people here are investing in real estate. The more you learn, you will find where your interest lies. A big mistake I made when starting out was not figuring out what I was interested in and what I had the time for. I thought I was going to be a wholesaler, but that takes a lot of time that I don't have. Besides, I'm more interested in fix 'n flip and rentals. The point is, don't rush into the first thing you come across. Take some time to find your niche. Hope this helps.

Happy Investing,

Harvie