How would you leverage $10k?

5 Replies

@Brad Lowery

I personally would look for a property that I could purchase with some of that money as a downpayment and see what the rehab cost were going to run me.  I know that this may not always be doable depending on the market but If you could land a property for roughly 60K-70K with a 5%-10% downpayment, you should be able to potentially rent it out and begin to see a return on your investment. 

Just my thoughts. Hope this helps!

I've done:

bought a 54.5K FHA foreclosure with $2.5K down, refi a year later when appraisal came in at 115K

used 10K of my own cash along with borrowed money to buy and rehab a foreclosure for BRRRR, 6 months later refi my own cash out plus an additional 11K

Lots of places to spend 10 grand profitably

Honestly, I would probably save a bit more before trying to leverage it. Maybe look for a private lender who can fund a lower priced real estate deal and use the $10K as a backup in case the rehab goes over budget.