Updated about 5 years ago on . Most recent reply

How to use 10k to create 100k per year
If I had 10k to spend right now, where should I spend it to get started on cresting 100k per year? There are condos here in Phoenix under 100k or duplexes at 250k. Any insight is greatly appreciated.
Most Popular Reply

My advice is to grow your capital through employment/side jobs before embarking on an investment. There is nothing riskier than investing without sufficient reserve capital to cover unexpected bumps in the road. Even if you could put $3,000 down on a $100,000 condo with an FHA loan, you would need a couple thousand to close and $5,000 in reserve cash is not going to go very far in case there is an unexpected HOA assessment or necessary major repair or tenant vacancy that lasts a couple of months. Hate to sound like a downer but I hate to see people lose their hard-earned money in this way.