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Updated about 15 years ago,
What is a good newbie investing strategy?
I've recently been bitten by the real estate bug and I can't stop reading. In the past week alone I've gone through 5 books, some broad, some very specific. All the books were by well accomplished investors and not "get rich quick gurus". And each had their own strategies that worked for them. Now I'm trying to decide what will work for me.
I have a credit score in the upper 600's, around $10K saved up and am looking to invest within an hours drive from my house (Newton, MA 02461). Obviously this is very little to start with, but we all need to begin somewhere. I also don't plan to buy for the next year, but out of pure curiosity, where would you all begin given my situation?
Should I go for quick flips or try and sit on a cheap duplex or triplex in a rough neighborhood? Or maybe I should try to partner with a silent investor?
Would love to hear any thoughts or suggestions.
-Sage