75,000

[Thomas Soliz]

what would be the best way to get the most out of  $75,000

[Chris Piper]

@Thomas Soliz I would use a couple grand to get set-up with all your wholesaling needs. I would also follow Jeff's advice and learn how to correctly wholesale whether from youtube, or this forum, or RE Mogul. Then, I would start looking for properties that are super cheap regardless of area that are in livable condition or close too it. Make a list of them, in my area I would look for houses under $25K, shoot out lowball offers on them, try to pick them up for around $5K each, then if they need a little TLC, aka paint/carpet or something, then do the work to spruce them up. Once you get one that is ready to go, advertise on criagslist and bandit signs something like this: 3 bed/2 bath NO CREDIT CHECK Own your own home today!!!" Then when people contact you, have them fill out a basic application. Then go through, find the best candidate, collect a down payment of say $2K, then the balance is in the form of a note. They pay you $400/mo for 10 years, and they own it free and clear. Now you can sell part of the note to bring in money right away, like the first 5 years of the note or the second 5 years, then collect on the remainder of the note monthly. You can also sell the whole note. I would sell at say 70%-75% of the value of the note. Now you just spent $5k and turned it into $30k. All the time you're wholesaling and making $5k-$10k a pop, and then repeat the above process. That's my advice. Alos, if they default on the payments, you kick them out, and sell it again the same way and make another $25k or more. Good luck.