Newbie , advice needed what can I realistically do with 20k-30k

[Leo Previllon]

Hello all . Peace and blessings . The ultimate question is what can I do realistically do you 20-30 k cash in real estate ? Creative answers , advice in real estate , which markets please answers .

Some context ,  in my mid 20s I opened a bank account and had very little money amount taken out of my paycheck every 2weeks . Little to the point I didn’t even notice and forgot I even had the account . My thinking for opening the account was , when I retire , I’m buy a nice car cash as a retirement gift to myself . I know a 20 year old mindset lol . Now in my early 40s , now I’m close to retirement from my city ( NYC ) job , I really don’t care about material things anymore . Especially after this pandemic and losing so many people to it , I really just don’t care and making every decision for my family , not myself . I have a pension coming ( but plan on leaving all of it to children ) , as I’m retiring young and can work somewhere else , have a 401k ( again plan on leaving to children and going to rollover once I retire ) , me and wife been saving to buy other home out of NY once I retire , own a home now ( going to keep , leave NY once retired , rent out and leave to children )  ,etc . I say all that to say , I can’t house hack , fha Loan route . I looked into the Brrrr route , seems not to work with 20k-30k ( maybe it’s the market I was looking in STL ) . I looked into turnkey but it seems like $$ isn’t enough . Maybe I’m looking into wrong market(s) . 

Sorry for being long winded lol . But had to give context . So ultimately, if you were in my shoes and 20k-30k ( total cost , not just down payment $ ) . Is there a market I can realistically make it happen with the money ? I’m new , so far I haven’t seen a market that it can . Any direction will help ? Thanks for reading . 

[Crystal Smith]

Quote from @Leo Previllon:

Hello all . Peace and blessings . The ultimate question is what can I do realistically do you 20-30 k cash in real estate ? Creative answers , advice in real estate , which markets please answers .

Some context ,  in my mid 20s I opened a bank account and had very little money amount taken out of my paycheck every 2weeks . Little to the point I didn’t even notice and forgot I even had the account . My thinking for opening the account was , when I retire , I’m buy a nice car cash as a retirement gift to myself . I know a 20 year old mindset lol . Now in my early 40s , now I’m close to retirement from my city ( NYC ) job , I really don’t care about material things anymore . Especially after this pandemic and losing so many people to it , I really just don’t care and making every decision for my family , not myself . I have a pension coming ( but plan on leaving all of it to children ) , as I’m retiring young and can work somewhere else , have a 401k ( again plan on leaving to children and going to rollover once I retire ) , me and wife been saving to buy other home out of NY once I retire , own a home now ( going to keep , leave NY once retired , rent out and leave to children )  ,etc . I say all that to say , I can’t house hack , fha Loan route . I looked into the Brrrr route , seems not to work with 20k-30k ( maybe it’s the market I was looking in STL ) . I looked into turnkey but it seems like $$ isn’t enough . Maybe I’m looking into wrong market(s) . 

Sorry for being long winded lol . But had to give context . So ultimately, if you were in my shoes and 20k-30k ( total cost , not just down payment $ ) . Is there a market I can realistically make it happen with the money ? I’m new , so far I haven’t seen a market that it can . Any direction will help ? Thanks for reading . 

Thanks for providing the details and some context. Before giving you a response on the $20k-$30K let's talk about your 401K. One of the ways my partner built his portfolio was to role his large 401K into a Self Directed IRA. He then used the Self Directed IRA to purchase real estate, partner on deals and lend $. All of the profits going back to the Self Directed IRA tax free. Research how you may be able to roll your 401K into a Self Directed IRA. You can still invest in stocks/bonds,...... but you'll also be able to invest in Real Estate.

Regarding the $20K to $30K- You'll have to look outside of the East Coast & venture to the MidWest, Cleveland, Chicago, Milwaukee, St. Louis, Memphis,.... Pick a city, develop a network then look for a deal you can do on your own or with partners.  My opinion- You need more capital before starting to accumulate properties to buy and hold, so get approved for a Fix & Flip Loan on your own or with partners and look for a lipstick fix and flip. (Lipstick- Paint, carpet,.... nothing major). They are hard to find but once you find one, & turn it quickly, you'll have more capital.