How to invest 30k in real estate?
I want to get started investing. I have already studied for years but just didn’t have the money save up to make a move. Now I have 30k save up! Any ideas of what could be a good avenue to take ?
Most Popular Reply
@Monroe M.
I would find a property for around 100k and put 20% down and keep 10k as a cash reserve for maintenance. Then save all your positive cash flow from this rental and pick up another property when you have another 20-30k in the bank.
I bought a property two years ago for 100k with 20k down on a 15 year loan. I’m only making $300/month off it. Not great, not bad. However, this home has appreciated and is worth 150k now. And now I only owe 71k on it. So my 20k turned into 79k if I sold it...minus closing costs and real estate commission. It’s only a base hit, but after you start accumulating several of these, it starts to add up. But for now, I’m happy with $300/month after all my expenses.