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Updated about 7 years ago, 11/14/2017

User Stats

116
Posts
61
Votes
Raeshelle C.
  • anywhere, MA
61
Votes |
116
Posts

Best way to start out investing with $10K?

Raeshelle C.
  • anywhere, MA
Posted

How would you invest in your first rental property if you had $10K? I am going to get a personal loan so that I can get started. I want to buy and hold. I live in MA. I could house-hack first and do it through FHA and live there for a year, but I want to buy a multifamily that doesn't need repairs or else I'd have to do the 203K loan which seems to be more complicated, but I guess if it comes to that I'll get guidance from a buyer's agent who knows the whole process.

I know there's also owner financing or turnkey. My goal is to make good cash flow (after expenses) per month, and eventually, have 10 units at the least. And whatever path is easier to do a 1031 Exchange down the road. 

What would you do with $10K to start out investing in real estate with these goals in mind?

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