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!
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.
Thank you all for your responses.
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