10k to invest, what would you do in chicago?

Question

If you have 10k to invest and you're completely brand new besides educating yourself and willing to work with a mentor. what would you do?

Sharad M. · Answer

Hi Edward,

Good to see a local investor. I am purchasing a flip property in Dyer next month. What I would do with $10,000 will depend a lot of my long term goals and available resources. If I just wanted to invest this $10,000 into real estate for now and don't have too much time available, I would invest in a cheap $40k property in EC or Hammond and rent it out.

If I didn't own a house, I would try to buy a house for myself with FHA financing.

One thing I wouldn't do is spend this money on a guru course, that I know for sure.

Sharad M. · Answer

Joe, thanks for the tip, but I have some idea about Hammond. I have done about 50 deals in Hammond. If you actually have a house to sell in Hammond for under $10k, send it over to me.

Leng Thao · Answer

With that amount, I would try to obtain a primary residence with low down payment & "hack my housing" if I didn't already owned a home.

Alternatively, may consider partnering with someone with the main goal of learning & making a little return on the side.

Otherwise, given the amount on hand, consider a strong marketing campaign for wholesaling. If you lack experience or certainty, consider funding  another wholesaler's marketing campaign to gain the experience & gain some returns.

Hope it helps.

Account Closed · Answer

@Edward Adekanbi,

PM me.

Joe Gore

Edward Adekanbi · Answer

I'll love to look at them too @Joe Gore

Timothy Riley · Answer

@Joe Gore

Im with @Sharad M.

on those less than 10K in Hammond deals. Send them over...

Account Closed · Answer

@Sharad M.,

PM me.

Joe Gore

Russell Ponce · Answer

If you're a wholesaler then it's a no brainer, you've got your marketing budget and then some. If you're not sure if you're ready then you can earmark $1-1.5k for marketing and get your hands dirty. During this process you will find out what you need to learn and so go learn it. Its a risk and I don't want to spend your money but that's what I would do, use it for marketing.

Account Closed · Answer

@Sharad M.,

With $10K, you can buy most any home you want in Hammond but beware it might be in the hood.

Joe Gore

10k to invest, what would you do in chicago?

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