What strategies do you recommend for the following budgets?

Question

Keep reading that to start investing you need money. But what if you have limited funds, even after budgeting, saving, etc, and will continue to have limited funds for the foreseeable future? SHould you just not get into RE then? Seems like there has to be options that are relatively low(er) risk and can provide a foot in to start growing funds.

Here are some possible budgets and I'd love your input on how you would start out at some or each of these price points:

$10K, 20K, 30K, 40K, 50K, 60K.

Here are some possible budgets and I'd love your input on how you would start out at some or each of these price points:

$10K, 20K, 30K, 40K, 50K, 60K.

Bryce Jamison · Answer

If you're just starting out and have limited funds house hacking is a great place to start.

Simultaneously, work your tail off to get your W2 income up.

A lot of the popular, no money needed, strategies like being a wholesaler, getting a partner to fund the deal, or STR co-hosting / arbitrage are a bit of a paradox because the people that have the expertise to effectively implement these strategies are typically the experienced folks that don't need no money down strategies to invest.

Wale Lawal · Answer

@Sarah Ali

Real estate investing offers various strategies for limited funds, including house hacking, crowdfunding platforms, wholesalers, lease options, turnkey rental properties, partnerships, and small commercial properties. Loans from the FHA, online investment groups, middlemen, rent-to-buy deals, ready-to-rent homes, and borrowing from private lenders can cost less at the start, grow in value, and give you a steady flow of money. Smaller office or shop buildings might bring in more money but need you to know more about running them. The BRRRR method is when you buy a fixer-upper, fix it, rent it out, refinance it, and then do it all over again. Starting with little steps and going slow can help you learn and gather more cash.

Good luck!

Nathan Gesner · Answer

You can't force wealth. It requires some capital to invest, making smart decisions, and being patient. Instead of investing in real estate, consider investing small amounts in a mutual fund or some other simple investment while you focus on increasing earnings, reducing expenses, and saving up for real estate investing.

You can also network with other investors and find ways to invest your time in exchange for experience, maybe even a partnership. You may meet someone that's doing a flip and they could let you help do some work in exchange for knowledge. Do well enough and maybe they would let you partner with them and invest smaller amounts for a share of ownership.

Keep reading the forums. There are a lot of creative ideas out there!

What strategies do you recommend for the following budgets?

What strategies do you recommend for the following budgets?

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