Is 15k enough to get into real estate ?

Question

I’m 22 years old an I have around 15k, is this enough to get started in real estate. I refuse to spend my money foolishly.

Account Closed · Answer

@Terry Haines

Definitely. Perhaps look into "house hacking" with an FHA loan as it only requires 3.5% down.

Account Closed · Answer

@Terry Haines

Unfortunately, I have no idea as I'm not a lender and my credit has always been high (770-820). Perhaps someone else on BP can chime in and help though...

Andy Brown · Answer

15k can be enough depending on the type of loan and your market. Regardless of your loan, I would thoroughly acquaint yourself with closing costs in your area (likely $3k-5k) and leave at least 2-4k reserves for unexpected maintenance issues on top of any known repairs you'll have to make.

Nathan Killebrew · Answer

I agree with @cj m, house hacking is the best way to get started. Gonna give you experience and allow you to save money. (which your post tells me you like to do)

Terry Haines · Answer

@Andy Brown thanks

Terry Haines · Answer

@CJ M. Goals. But I greatly appreciate the feedback

Terry Haines · Answer

@Nathan Killebrew @CJ M. What is the recommend credit score to purchase a house ?

Is 15k enough to get into real estate ?

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