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Updated about 9 years ago on . Most recent reply

User Stats

54
Posts
9
Votes
Gabriel Meerzo
  • Investor
  • Fort Wayne, IN
9
Votes |
54
Posts

What's the best way to invest $5,000?

Gabriel Meerzo
  • Investor
  • Fort Wayne, IN
Posted

So I've been doing my research, getting my education, and analyzing deals for about a year now. When I started on this journey I had zero money in the bank. I soon realized, after making a couple of offers, that I needed to start saving and get my bank account built up a bit. I've managed to save $5,000 and now I'm stuck. I feel like $5,000 is not enough but it took me a year to get to that mark. I'm ready mentally, been ready for awhile, to start acquiring property, but I feel like I'm in limbo due to the money factor. My credit is not good enough to get a typical mortgage as I already have one FHA loan. I don't really want to buy a "PIG" just to end up depleting my savings by rehabbing it.

What would be the best way to utilize my $5,000?

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