Updated almost 10 years ago on . Most recent reply
5k-10k investments
Is there any legit investments out there where you only have to invest five thousand to ten thousand dollars out of pocket? I've seen some properties in Memphis and Kansas City for around $45,000. Are those legit investments, or does anybody have different experiences they can share? Does anybody have any cash-flowing stories where they invested $5000-$10000 on a property?
Most Popular Reply
@Michael BellYou can find houses in the 45k range in the Kansas City area. You would need to put down at least 20% down plus closing costs so that is around 10k. You just need to find yourself a good property manager so that when a tenant moves out, the house is not vacant a long time. I would suggest a 20 year loan so that you can build equity faster along with still having a positve cash flow. If your putting a loan on the house then just make sure the big items like the roof, heating and air and windows are in good shape so that you dont have to replace them in a long time.