I've searched around for answers on how to invest your first couple thousand. The answers that I have gotten are to:
1. Invest in yourself/ educate yourself
2. Invest in Stocks
3. Realty Shares
There are obviously other things out there. I'd like to figure out a way to invest my money into real estate, but Realty Shares is about the only way I can think to invest in it. For people who have not tried to invest, it's not easy for beginners to be a part of realty shares. I've thought about peer-to-peer lending or small businesses. Obviously under $5000 in cash is not a lot of money. Any suggestions for what you would do if you were in the same position? Thank you!
I used it to house hack.
Saved me more than $12,000 last year, made $7000 through Airbnb and built at least $50k through a live and flip.
I’d stick In a savings account until you had 15-20k. I wouldn’t buy realty shares. Those types of investments seem more illiquid than actual real estate.
@Evan Kaczor with only $1k in my pocket, I'd pursue a 4th option: invest in some key relationships. A good broker who can help you find deals. Some investors who can provide financing. A good contractor (for obvious reasons). I'd start with a local REIA and go from there. I'd provide the hustle and leverage my network for the rest. I'd probably work a few flips just to get some cash coming in. Maybe BRRRR a plex to cut my teeth on property management. As quickly as I could, I'd move into commercial multi-family. That's what I'd do. Best of luck!
I like the idea of learning the business of real estate hands on. Maybe you could partner with others and together come up with a down payment for a property.
I would buy some books
That's tough. Knowing what I know now, I'd buy 1,000 bandit signs and pick 50 target locations. I'd keep replacing them every week until I ran out of signs.
BUT, if you only have $1,000 that tells me you probably don't know much. Possibly about anything. I'd definitely hold off on investing that money and instead focus on some education while you saved up some more loot. Do I mean pay for education. No. You can get all you want here for free. Used book stores are awesome. I've stocked my library with $1 real estate related books. To the average Joe, there's no value in them so they always end up on the discount shelf.
Stalk this site, get in the habit of turning off the TV and opening up books. Figure out what you'd like to be doing in real estate before you squander your cash hoping for a profit. You'll get there. At one time I was thinking I might get up in the morning and go to Home Depot to apply for a job I was struggling so bad. Now I can hear and smell the ocean from my living room.
I would keep it in an investment that is relatively liquid. With $1000, especially if you're interested in going into real estate, you'll want to continue saving to have enough money to do something there. So you want to be able to access that money pretty quickly.
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