How do I get started with $20k?

[Lance Conyers]

I've been a handyman all my life. I dream of becoming a real estate investor. I would like to start with single family flips and then move on to owning rentals. I have $20k to get started in Florida. What would be the best direction for me to get the ball rolling?

I thought about partnering with someone if I can find someone willing.

Or maybe a hard money investor.

I can do and manage most of the repairs myself so that would save some cash.

Thank you for any advice.

[Andrew Gingerich]

I prefer rental properties over flipping but I understand the attraction of raising capital by flipping. I think a local Real Estate Investment Group is a good place to start. This will help with both advice and finding a partner if you so choose. You might also reach out to other BP members in your area. You can setup a search or keyword alert on your BP account. Put in your city name and you'll see who's active.

20K for a new investor will let you buy an 80K property using conventional funding. Depending on your market you might not have enough to buy a buy and hold. Keep in mind you'll need more than 20K because of the financing costs etc. 2-5K extra. 

Hard money could work but make sure you will be able to finance out of a 12% hard money loan into a conventional and get all your money back. 

Best, 

Andrew