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Updated almost 13 years ago on . Most recent reply

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Rich C
  • New York
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Best out of the gate strategy

Rich C
  • New York
Posted

If you had 50k to invest and no properties or real estate experience, but only knowledge, how would you choose to begin your real estate career?

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Mark Updegraff
  • Investor
  • Rochester, NY
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Mark Updegraff
  • Investor
  • Rochester, NY
Replied

Do you have 50K or is this hypothetical?
If you don't have it (which it sounds like by your wording of the question), then in order to get out of the gate you need to learn how to save money. And not, "look I saved 10% on my car insurance by switching to the lizard" You need to start a saving account and "pay yourself first." Once you start to build it up you'll realized how careful you need to be about preserving it and making it work for you. I would start there. Not "what would you do with 50K"

Learn to save and investing will follow,
Mark

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