Starting with 20k to invest

[Francisco Gonzalez]

Hello everyone,

My wife and I worked really hard to be debt free and we did it. Now we have 20k to start investing in either Texas or Nevada. How would you guys do it, if you had to start all over again with the experience you have gained? I have a couple of ideas in mind already, but I fugured I'd gather some more information, picking up your brains, or even come up with something we haven't thought about. Thanks a lot in advance!

[Melissa Uppelschoten]

Hi Francisco - Congrats to you and your wife! Great question. If I could turn back time, I would have used the $20 on a downpayment on a duplex and house hacked. It pains me to think of how much money I wasted renting when I was young. 

Or I don't know if you own your home or not. But if you do, I would consider getting a HELOC on it and using that to purchase rental property doing the BRRR method. That is what my husband and I did. We paid off our primary residence, but took out a HELOC. We are about to close on our 5th rehab using our HELOC. After we get it rented out, we refi and then put the money back in the HELOC. Wishing you tons of success!