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Updated over 7 years ago, 08/24/2017

User Stats

21
Posts
8
Votes
Bj Ayoleke
  • New York, NY
8
Votes |
21
Posts

10K in hand, how would you use it?

Bj Ayoleke
  • New York, NY
Posted
I have about 10K in hand to invest and I want to start investing in real estate. My goal right now is to use it as a down payment on a house, getting a hard money lender to finance the rest plus rehab and take it from there. I wanted to know, if you were starting out with 10K, what strategy would you use to invest in real estate. I think hearing other opinions on how they would use this money would be very beneficial to understanding different ways to go about this. Also, I already have a house in my name using a FHA loan, so from what I understand, using a FHA loan won't be possible and neither would conventional loan since DTI will be considered. Please correct me if I am wrong. Thank you for your assistance. Is 10K even enough?

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