30k to spend

11 Replies

new to real estate. is there any property realistcally i can buy for 30k and rent it out and get a good ROI?

some of the areas that were mentioned before was wayne, mi, and some in stl, mo

Welcome. Keep reading the articles here & check out the podcasts. For 30k, you're close to a down payment on a house in Texas. I would suggest staying local because you know the area.

@Drew Stevenson - the quick answer to your question is, yes there is. Real estate encompasses a lot of areas. I would suggest start by reading the forums, books and other websites to get familiar with what real estate investing can offer. Just like any investment, if you know nothing about it, how will you truly know if what you have is a true investment?

Good luck.

George

really apprciate the quick replies. I am really trying to not take out a mortgage on this rental so i wont be obligated to anything.

i really need to do research on areas and look to see where there are lots of renters.

750 lap dances

thats some expensive lap dance, probably get you 1500 here

Originally posted by @Drew Stevenson :
really apprciate the quick replies. I am really trying to not take out a mortgage on this rental so i wont be obligated to anything.

i really need to do research on areas and look to see where there are lots of renters.

I wouldn't suggest owning a rental if you don't want to be obligated to anything.

well i understand it needs to be ran as a business and if things need to be fixed i may have to cut some checks. i also understand 30k will get me in a low income neighborhood and could face possible damages from tennants.

i just didnt want to have a payment every month for the next 8-9 years when i am fresh out of college, thats all

@Drew Stevenson - I have a few where I am all-in around 30 or so and they are doing well for me. Small towns in rural mid-TN.

30k buys me SFH in a great school district, attracting high quality tenants in my area.

i also viewed this: http://www.biggerpockets.com/forums/61/topics/115738-sub-30k---property-pictures


and it seems like for 30k you can get some good properties with good rent. i really want to stay away from a mortgage so its all cash and hopfully rent it out for 5-700 a month and buy another property in a year or two.


i budget myself off of just my base pay from work and its already pretty maxed out cause i am trying to pay off other debt, so i dont want to add on.


would love to get in on some of these properties. i am going back to school for 1 class on real estate this summer.

@Drew Stevenson Sounds like a good plan on the cash purchase.

As for the real estate class, cancel that, save your money and spend your summer reading here at BP, speaking with the doers (vs classroom teachers), listen to the podcasts and maybe spend a couple of your saved bucks on books if you so wish.

Then take some of your saved time (from not sitting in a useless class) and offer some free labor on a local flip/renovation, learn hands on.

Good luck!

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here