What to do with $65k in Phoenix, AZ?

[Account Closed]

I am a newbie investor. I will soon have $65k from a cash out refinance from a property that I inherited and am now renting out. I am interested in BRRRR method, however in the market I am in, I would probably need 200k-300k (which could take a few years) to BRRRR a 3/2 single family home. I am wondering if I should invest the 65k into the stock market and just save up more money from my job, or if I should just buy another home in the next few months-year using the traditional method and use the 65k for down payment and rehab. I am worried if I wait too long that the market could continue to increase and I would be behind. I am quite new and I haven't made many connections to get great deals.
Buy and hold investors, what would you do with 65k?

[Joseph Crunkilton]

@Account Closed

Welcome to REI! If I were in your shoes, I would take that money and turn it into cash flow via a few turnkey properties. There is a company called Rent to Retirement that focuses on these in cash flowing markets. Indy, KC, etc.

I recently just closed on a property through them that is set to cash flow about $400 a month. Fully renovated, tenant in place. With your access to capital you should be able to turn that into $1500 a month cash flow and have a couple quality properties. Not only that, it gives you the experience to take on more risky projects down the road. 

Feel free to shoot me a message if you have any questions or wish to discuss!

Good luck