I am interested in REI but I only have $20k to use at the moment. What are some suggestions on how I could get started? In 2014, I bought my house cash and paid for college out of pocket, so I don't have any debt. If anyone could steer me in the right direction, I would appreciate it. Also, I am wondering if anyone has any suggestions on some good books to read or videos to watch that would help. Thanks!
@Thomas J Allen any book on bigger pockets would be great. If you own your house free and clear you could always pull out that equity with a refi or HELIC and that would give you immediate cash to start investing with.
Send me a PM and we can get into some more detail about where to start, but you’ve got a pick direction and run with it. Too many options and shiny things to list them all here.
Hope this helps and good luck!
Hi Thomas, you say "I am interested in REI..." but what specifically does that mean? Interested in flipping? Interested in buy-and-holds, interested in out-of-state investing, interested in wholesaling, etc. Also what market will you focus on? Too many unknowns. I'd recommend posting exactly what you want to do and where you want to do it. Then you'll get more accurate advice.
That said, if you're just looking for basic information, start by listening to as many BP podcasts as possible. They are super helpful!
You could invest in a REIT or something like realty moghul, fundrise etc.. Or that could be down payment on a SFH rental property..
I just got started a couple of years ago myself but I would be happy to discuss in detail and bounce ideas or tell you more about how I learned and got started. Feel free to PM me!