Investing with 20k in SoCal?

Question

Hi guys,

How would you guys use 20k to invest RE in? (SoCal, where houses near me are all at least 650k+ )

Any advice/tips are welcomed.

Jim Pellerin · Answer

Invest in a private mortgage and make 12%.

Matthew Meikle · Answer

@Mike Chu You can enter the space as a wholesaler. You will need that 20k as operating expenses pretty much, but it can be done. Otherwise, move your focus to the midwest where your money might actually buy you a door.

Kiera Underwood · Answer

@Mike Chu understood! If you're committed to staying in socal saving is a great idea right now because we're at the top of a market cycle. Maybe by the time, we start to see a decline in the economy and prices are more approachable, you'll have saved enough. Let's hope the stars align!

Mike Chu · Answer

@Kiera Underwood i decided to save up more, than invest once i'm fully capable

Kiera Underwood · Answer

@Mike Chu did you end up making any moves? I'd shift gears and look out of state.

Dennis Fernandez · Answer

Honestly with that amount it's best to just save it while you learn the ropes. You could try to wholesale but learning how to do well takes time and can get costly. Either you pay a guru to hold your hand or you learn expensive lessons quick. My recommendation would be to network with as many like minded investors, save up your money and maybe look for a potential partner. Good luck!!

Frank Wong · Answer

Run the numbers it's not going to happen with $20k in SoCal. Focus on making more money and saving until your funds are ready. Jumping in too early and being under funded is one of the most common mistakes. This doesn't mean you can't be an investor just means you can't invest today. Focus on making money, 100% of your attention on that nothing else. That is the best advice I can give.

Mike Chu · Answer

@mathew meikle how does wholesale work?

Mike Higgins · Answer

@Matthew Meikle I agree. Since I live in the Midwest I see the numbers and returns I’m sure you’re referring too @Mike Chu I would agree with Matthew on this one. Good advice.

Investing with 20k in SoCal?

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