What to do with 20k

Question

Hi, All Any strategies that I can do with 20k..thanks

Alan Asriants · Answer

As Michael mentioned above - Househack

I wouldn't rush buying something until you can buy in a solid area. If that 20k can do it in your location than great, if not wait a bit and buy something in a more solid area.

You can always fix the real estate, but you cannot move it

Wale Lawal · Answer

@Benjamin P.

Investing $20,000 in real estate can be an exciting venture. Here are several real estate investment strategies you might consider:Real Estate Crowdfunding:Consider investing in real estate crowdfunding platforms. These platforms pool funds from multiple investors to invest in a diversified portfolio of real estate projects.Real Estate Investment Trusts (REITs):REITs are companies that own, operate, or finance income-producing real estate across various sectors. Investing in REITs provides an opportunity for dividends and potential appreciation.Rental Property:Purchase a rental property and earn income through monthly rent payments. Conduct thorough research on the local real estate market and property management responsibilities.Fix and Flip:Purchase properties that need renovation, improve them, and sell for a profit. This strategy requires a good understanding of the local market and renovation costs.Real Estate Partnerships:Form partnerships with other investors to pool resources and invest in larger real estate projects. This can provide access to opportunities that may be beyond an individual budget.Before diving into any real estate investment, conduct thorough due diligence, consider your risk tolerance, and, if needed, consult with a real estate professional or financial advisor. Each strategy has its own set of risks and rewards, and aligning your investment with your financial goals is crucial.

Ko Kashiwagi · Answer

Hi Benjamin,

As others mentioned house-hacking is a great way to get started. Generally, you need to occupy the property for a year before you can move out. After that, you rent out the unit you were living in and get more cash flow.

Alternatively, you can partner up with someone with 20k also, and do an investment for a rental. Creative financing is another way to get into real estate with less money down!

Benjamin P. · Answer

ok, so like house hack for how long before I move on? Also, how long and what to do after

Michael Dumler · Answer

@Benjamin Porat, house hack 3%-5% down. Read "The House Hacking Strategy" if you're unfamiliar with the investment concept.

What to do with 20k

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