Best way to invest with $20-$25K?

[Raeshelle C.]

I'm currently saving right now, but I estimate that in 3 years I will have saved $20K-$25K. I'm 27.

I want to make $10K/mo and retire early. What I'm having trouble with is, if I use that $20-25K on real estate, I need help finding out how I should begin with my investing. I know I am just saving now, but I like to create a plan. I don't know which is the best path to go down if I want to make $10K/mo within 10 years of buying my first rental. I live in MA and houses here are not cheap. What I'd like to do is buy multifamilies that are in fair/good condition (no repairs needed) using the FHA loan, but all the multifamilies around here that's cheap, near where I work, all need repairs. The cheap multifamilies that dont need work are far from my job so I can't live in them with FHA. I don't have extra money to pay for repairs, and saving extra for that would take even longer, and that would delay my wealth.

Then I was thinking, I'll just invest in out-of-state turnkey single families in places like Alabama, Georgia and Florida because down payments for those houses would be cheap, since the houses down there are cheap. But I would also be taking out one loan after another to buy these single family houses. I fear I would get rejected by the banks, like they may not allow me to have all these loans; I also fear it's too dangerous to take out so many loans too (I cant buy houses in cash). I know I'd only be making around $250/mo in cash flow after expenses too, per turnkey single family house, in the first couple years. I just really don't know what the best option is as far as real estate investing, that's doable for me. I'd only have $20-25K to start with.

Can anyone give strategies?

[Brian Pickens]

I don't know know why everyone continues to throw their hat in the ring just to get some rude retort. She obviously knows what she's doing.

@Raeshelle Cooke

You specifically asked, "Can anyone give strategies?" - then why are you so defensive and jumping all over these people who are taking the time out of their day and simply offering their answer to your question. Perhaps they are just giving you some different things to consider, seeing as that you're new to all this. Challenge is good sometimes, it doesn't always have to be filled with such vitriol.

We don't know what you do or don't know. This is a forum to give feedback, discuss ideas and options. If you already have an answer to anything anyone is going to suggest, then you don't need anyone's help in this forum.

Your attitude alone, and the fact that you aren't even open to hearing what may be opposing viewpoints, is discouraging and really, in my opinion, where you need to start. Drop the chip on your shoulder, open your mind, and just have a polite and friendly conversation. We're all here to help one another.

Good luck to you!