5K to invest in real estate.

[Dominique L Miller]

I have 5k that I want to use to start investing in real estate. How would you seasoned investors recommend I start? I already know that I could save more and have more buying power but that's not what I want to do. Should I purchase a mobile home to rent out? Buy a cheap home in Detroit to fix up and rent out? What other options can you think of? I will be doing most of this remotely so if you have some ideas that are specific to your location I would still like to hear them. My end goal is to generate passive income and reinvest it into another rental. I am eligible for a VA loan and house hacking isn't an option. I appreciate any input.

[Michael Carbonare]

$5K isn't much so your options will be limited.  You'll hear many tell you start with wholesaling.  But that's ultra competitive and much more difficult than the seminar gurus say.  You can try assignments with lease options.  That's what I used to start many years ago.  Relatively risk free and minimal cash requirements.  Build up capital, gain some experience, and you can grow from there.