Where to begin with limited amount of cash?
hi, I am new to BP and REI in general.
Wanted to see your thoughts on where to begin on a limited amount of money and no credit: let's say 15k cash available.
- Buy a foreclosure for 10k and put 5k into it?
- is there a way to team with someone in flipping a property to split 50/50 or deserved percentage per party?
- any other option?
Most Popular Reply
finding loans in some areas for less than 50k can sometimes be difficult. Just make sure you leave yourself some wiggle room, as buying to flip has even more risk that you need cash for. That doesn't sound like a winning formula as even if it goes right, between loan costs, repairs, closing, and carrying costs- you aren't left with much for the risk IMO, but there are a lot of people here that flip more than I do. I typically buy and hold. @J Scott