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Michael G
  • San Diego, CA
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Do I have enough money to start?

Michael G
  • San Diego, CA
Posted May 13 2013, 15:39

Hello all. I have money in mutual funds which have been doing fine, but if the market goes down again so does my money. I always thought buying a rental in San Diego (where I live) was out of reach and then someone told me I can buy out of state rental properties.

Is 30k enough to buy a rental property somewhere? I heard that there are companies that buy properties, put a tenant in them, and set them up with a management company and then sell the property. Since I don't have time to fly around the country and learn about different markets something like this seems ideal for me... a property with a tenant, ready to go.

What kind of companies do this? I've read through the real estate investment guide on this site for a light overview.

One other question I had is if that is not enough for a property, what about buying notes? People say they are passive investments, but what if the person stops paying their loan?

Thank you for any advice!

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