Hello everyone! I have some money that has been sitting in a savings account not doing much of anything for me. I'm wondering if there's anything that I could do with $5-$15k to make money in real estate??? This is all new to me.
Two options really, use it to find a coach to teach you how to invest in real estate, or find a good property, get it under contract, and find a partner to joint venture with that can bring capitol and experience. (that's how I did my first deal)
Thanks Richard. I've been combing the internet looking for foreclosures or something that I can afford as a cash purchase. It all seems so murky when you don't really know what to look for. Where and how do I find my first property? I'm down in South Jersey. It seems unlikely that I'll find a property the way I've been going.
You could also partner with someone you trust and that has the same goal that you have and invest together with that person. You can also find a good deal and bring it to a money partner, if you are willing to work hard, hassle and have the time. Having some skin in the deal will help when presenting your plan to possible money partners.
Other option is to invest in Tax liens. That is how I got my start although it has become very competitive these days and you need to learn the basics.
With only $10,000 to $15,000 I would suggest you get a brokerage account at Fidelity or Schwab, and buy a real estate ETF or a company that buys net lease investment property. Read everything about them you can - and it will help you understand the investment process, cash flow and management. I suggest Realty Income (ticker symbol O on the NYSE) that pays a 4.3% dividend - for your investment size, you get professional management, a steady dividend, and equity appreciation. What's not to love about that?
Hey Braheme, I would drive around and look for distressed properties to offer on and find someone to partner with. Go to some of your local meetups and i'm sure you will find investors that are willing to partner!