If you used that $60k as a 10% down-payment you could get a $600k property. Depending on the market you're looking in, that can buy you a small apartment complex. I'm incredibly biased, but that's what I would do.
The number of rentals is the wrong metric to concentrate on. It's perfectly possible for a guy with 2 properties to outperform the guy with 12. Instead, focus on the most optimal use of your money that fits within your comfort level.
Hi Amir, the 60k deposit is just the starting point.
Once you know how to put deals together then you can help other people invest, use their deposits and still be involved in deals
So in summary as many deals as you can creatively put together
@Amir Khan Good question. You definitely do not want to force a deal just because you have a set "cashflow" you want to hit. I'd recommend using that as a 20-30% down payment if it's your first deal.
Thank you guys for your input
@Deep Johal how's your investment experience
In Canada? I like to buy few rental properties outside Toronto. Any recommendations for city or area ?
@Amir Khan One of my very close friends is sponsoring some deals in Canada - PM me your contact details and I can put you in touch if you’re interested
I started with 50k and bought 3 rentals in Warren MI. Cash flow about $250 a month each or $750 total. It was 6 years ago but should be something out there now
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you