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Updated about 5 years ago on . Most recent reply

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First time investor. 30k. What to do?

Michael DeRienzo
Posted

Hello everyone! New to BiggerPockets. New to investing! Live in Massachusetts, 30 minutes south of Boston. Have 30k saved up. What should I do? Single famIly flip? Single family Rent? Multi-family 2-4 owner occupy? Any tips will be greatly appreciated!

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Mason Hickman
  • Real Estate Agent
  • Sandwich, MA
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Mason Hickman
  • Real Estate Agent
  • Sandwich, MA
Replied

@Michael DeRienzo

Owner occupying a multi-family would be my suggestion. What area are you looking to purchase in? You shouldn't use all $30K for down payment, so you have some reserves. To have $10K left in cash, you're looking at a max purchase price of ~$550k assuming you can get FHA without many repairs needed.

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