You could probably buy around 5 single-family using hard money loans to conventional. My total out of pocket on the last 20 I bought averaged $18,000. You could also invest passively in two apartment complexes. $50,000 each. Are you a member of a real estate investor club yet? That would be your first step.
Unless my eyes are deceiving me (it does happen from time to time), he has 10,000 not 100,000. (it is 2:30AM and i stared at it for a sec too)
So best bet would just do a house hack if you can on a cheap duplex and pay 3.5% down. That should get you started.
You could probably buy around 5 single-family using hard money loans to conventional. My total out of pocket on the last 20 I bought averaged $18,000. You could also invest passively in two apartment complexes. $50,000 each. Are you a member of a real estate investor club yet? That would be your first step.
Unless my eyes are deceiving me (it does happen from time to time), he has 10,000 not 100,000. (it is 2:30AM and i stared at it for a sec too)
So best bet would just do a house hack if you can on a cheap duplex and pay 3.5% down. That should get you started.
The options are endless, and $10,000 only goes so far actually investing the money.
But... you posted this under wholesaling. Are you asking how to use that money to invest in starting up a wholesaling business, or just general real estate investing?
@Barry Pekin thanks i appreciate it, sorry I’m new to this app not familiar with posting lol. I’m actually asking about real estate investing. Where will $10,000 be a ok start?
I would suggest posting this question in a better area. I think "Buying and Selling Real Estate" might be a good area, but don't hesitate to explore around for a better forum.
Since you haven’t shared your market it can be difficult to tell you exactly what you can do with that money. However, I am looking into house hacking and in majority markets that amount may only pay closings and down payment. However, you want to make sure you have a good amount for reserves along with money for other admin fees. According to Scott Trench’s book Set For Life, you want to get to around 25K. But all depends on your level of risk you are willing to take!