What should I do with my first 50K?

[Corey Kenney]

I need to make a decision on what my first steps are going to be here. I am torn between buying a lower value property with cash or using a down payment and a hard money lender. The goal would be to have a smaller profit margin repeatedly until I can save some more money and my risk would be a lot less obviously. I like the fact that I can get more experience before I step up to higher values. I do not have an established relationship with a contractor I trust and this is the missing piece to my puzzle and if I really had to I could do the work myself, so I feel this will allow me to not feel pressured into making a bad decision. I love the idea of not having to borrow to get started and until I get some deals done I don’t feel comfortable being on that hard money clock.