Hi, I have recently inherited 150k and I am interested in investing it into real estate. Though I am only 22 years old and new to this. Any recommendations on where and how to start? I am from Miami, FL. Thank you

@Charlotte Sellam - a few quick comments: 1. Congratulations on the money, at your young age you have an advantage over many. 2. You've come to the right place, lots of savvy people here to learn from. My STRONG suggestion is that you spend the next few months reading and listening to podcasts. It's better to have ideas of what interests you in RE and how to safely invest than it is to hurriedly throw your money out there and risk losing it. Real estate isn't going away, be patient. 3. You are unfortunately located in possibly the highest fraud area in the US as far as real estate transactions go. South Florida is the "Wild West of RE" (I should TM that term). After nearly 14 years in Miami-Dade and Broward, I just moved a few hours north. So watch your back. 4. While there IS opportunity to make money where you are, as one poster mentioned above, you should consider less costly areas such as Jax. I will add Tampa and Orlando. I am in Brevard and there's opportunity here too. 5. @Joseph Back mentioned BRRRR. If you picked up a duplex using hard/private money, updating it and refinancing into traditional financing, that would be a great start and you'd have most of your money (if not all) in your pocket. Either way, learn learn learn.....then make your moves. Good luck!

@Charlotte Sellam Where/how you invest this money in RE depends on what your ultimate goal is at the end of the day. Have you considered what your goal is? Also, what type of asset class you want acquire?

Leverage you money. dont be too scared to take on positive debt

You could BRRR a duplex or SFR in Orlando for 150k. I am in the process of doing this on two properties at the moment.

@Charlotte Sellam Have you purchased a primary residence yet? You could always consider purchasing a multi-family primary residence and let the rental income pay most or all of your mortgage. It gets you experience with becoming a landlord. I started out this way as well.

@Charlotte Sellam I think the best place to start is with education. Figure out what asset class your attracted to and model of investing and become an expert in it. The first big choice is to determine if you want to be passive or active. From there your able to determine what size deal you can take down or be apart of.

Lend it to an investor who knows what they are doing with a proven track record and learn from them.

Find a wholesaler you can trust and get into a deal with built in equity

I would second @John Defreitas in regards to investing in Jacksonville. If you research the area I believe you will find that there are many pros for starting out there. Other Florida cities worth considering are Orlando, Tampa, and Cape Coral/Ft. Myers. These areas are projected for strong population growths as well as strong increases in home values.

new to real estate with 150k to spend, what should I do?new to real estate with 150k to spend, what should I do?

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new to real estate with 150k to spend, what should I do?

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