How do I get started in the rental property business with $10,000?

Just glancing at Green Bay on Realtor.com you could use that money for a down payment on a property. Looks like some good deals up there.

Do what Carrie just said. Key is getting that reno budget down, start educating yourself as you may need to do most of the work yourself (bonus if you already know how). If not there are great classes at your local home depot so you can check those out, plus there is always Youtube. How to invest 10k is very specific to the market. For what Carrie is saying, that sounds like a great deal but it would need to be a cash purchase most likely. You need to get to your local REIA meeting and get to know people that might be willing to loan you some cash for a few points and 10% interest, that can be a good way to get started but is slightly risky if you have no idea how much the reno will cost. If you are short on cash and have equity in your house a HELOC can also be a good tool to get started in the business. You can find more info on no/low money down at biggerpockets.com/books Finally, if you do not own a primary residence start there. House hacking is probably the best way to build wealth with low money. Find a small multi-unit (2-4) where you can live in one unit and rent the others, if you do it right you will live there rent free, or close to it, then you will watch your bank account grow. Also, you can get FHA loans on these properties and that makes the barrier to entry pretty low. Good luck!

Benjamin, if you do it right, you don't need to use any of that money. Keep it liquid and do a BRRRR. The key will be finding a property you can add value to. We just wholesaled one in New London that would have been a great BRRRR for someone like yourself. ARV around 70K, just needed some updates to flooring and paint. We ended up wholsaling it for $35K. Rents should be around $700/month. If you stuck $5K in for repairs and refinanced immediately you would easily be able to get all of your money back out. The key though is to use OPM or other peoples money. You should check out our REIA. We teach this strategy a lot and you can meet a lot of hard money lenders or private lenders who would borrow you the money all day.

That's something I might be interested in doing too. I'm also in Green Bay and have yet to do my first deal. Just trying to study all I can before taking the plunge =)

I would like to get to the point of buying at least one rental property a year. Just trying to figure out the best way to get started with what I have available at the moment.

Should go quite far in Green Bay. What are you trying to achieve?

How do I start my rental property portfolio with $10,000?How do I start my rental property portfolio with $10,000?

Back

Resources & Media

Resource Hub Bookstore Blog Guides Pro-Exclusives PRO Podcasts Pro Partnerships Property Management Toolkit

Events & Training

BPCON2025 Webinars Upcoming Events Free Courses

Strategies

How to Manage Your Rental Property How to Operate a Short-Term Rental How to Passively Invest in Real Estate How to House Hack How Does the BRRRR Method Work How to Flip a House How to Invest in Commercial Real Estate How to Invest in Real Estate How to Invest in Multifamily Real Estate How to Build Wealth

Invest More Confidently

Join the real estate investing community that’s helped thousands of people achieve financial freedom.

Start Free Trial

The Podcast Investors Trust

No fluff. Just deals, strategies, and lessons from the front lines of today's market.

Listen Now

Back

Pick Markets

Market Finder - NEW PRO Picking a Market Workshop PRO Picking a Market Worksheet Top 100 Cash Flow Markets Market Insights - Sunbelt Region

Market finder

Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent-to-price ratio, and more.

Pick Markets

Pro membership

Get unlimited access to tools and resources that make it easier to find, analyze, and manage deals with confidence!

Upgrade to Pro

Back

Find Deals

BiggerDeals Off-Market Deal finding PRO Real Estate Syndications Investor-Friendly Agents Find Foreclosures Community Listings (FSBO) Business Directory

NEW! Find Cash-Flowing Deals Fast

Search nationwide listings with built-in cash flow analysis.

Find Deals

Invelo - off market deals

Scale your portfolio with off-market deals.

Explore Now

Back

Calculators

Rental Property Calculator PRO Rehab Estimator PRO Rent Estimator PRO BRRRR PRO Fix & Flip PRO Short-Term Rental PRO Sell vs. Keep PRO Landlord Insurance Calculator by Steadily All Calculators

Rental property calculator

Is it a good deal? Run your numbers like a pro with this simple yet powerful calculator.

Run the Numbers

Rent estimator

Understand how much rental income you can expect based on recent reports and data for your specific property.

Run Report

Back

Manage Properties

Managing Properties 101 Find a Property Manager RentRedi Property Management Software PRO Baselane Automated Bookkeeping & Banking PRO Property Management Tools Ask a Management Question Finding Tenants Screening Tenants PRO Leases + Landlord Forms PRO Property Insurance Property Maintenance / Rehab PRO

Property management software

Manage tenants, tasks, and your entire portfolio with one simple tool.

Activate Now

Property manager finder

Find reliable property management partnerships that last.

Find a Property Manager

Back

Plans & Pricing

Pro Membership Business Membership

Try PRO for 7 days completly free

Avoid mistakes and make informed decisions with Pro.

Start Free Trial

Grow your business

Promote your business on BiggerPockets and make quality connections with the right investors.

Sign Up Now

Back

For You

Newest Unanswered My Discussions Followed Discussions Followed Categories Followed Locations Followed People

General Real Estate

General Real Estate Investing Starting Out Deal Analysis Buying & Selling Business & Marketing Landlording Property Management Reviews & Feedback

Real Estate Strategies

House Hacking BRRRR Short-Term Rentals Mid-Term Rentals Multi-Family Fix & Flip Other Strategies

Finance & Financing

Lending Creative Finance Personal Finance Taxes & Legal Issues

News & Announcements

Official Site Announcements Market Trends & Data Real Estate News & Current Events Pro Exclusive Area PRO

Events & Networking

Events & Meetups Classifieds

Back

All Books

Best Sellers Browse All New Books & Pre-Orders Bundle & Save Books for Beginners

Unlock hidden potential in every property and maximize returns

This is your creative breakthrough guide to escaping investment paralysis and unlocking hidden profit in any market.

Get Your Copy

Build a Cash-Flowing Glamping Business with High Equity Upside

Whether you're starting from scratch or expanding existing hospitality operations, learn the practical frameworks needed to capitalize on the growing demand for upscale outdoor experiences.

Learn More

How do I start my rental property portfolio with $10,000?

Most Popular Reply