How to invest $20-25k?

[Andrew Threet]

Hello I’m new to real estate investing, but it’s something I’ve been interested in for some time now and have been saving up to be able to put me in a position to do so.

Currently, I have about 20-25k ready to invest and I was wondering what the best avenue to do so. I was thinking of investing in some rental properties to get some extra monthly cash flow, however I live in CA and with the amount of money I have saved so far, investing in local property right now would probably be out of the question.

So I was thinking the most solid option for me would be to invest in some out of state turnkey rental properties. I have been doing some extensive research on it, but would also like some advice from people that are more versed on the topic.

Any suggestions? Is turnkey a good way to go for a first time real estate investor? Should I just wait and save up more to open up more options for myself?

Any advice is very much appreciated, thank you!

[Joseph Crunkilton]

@Jon Schwartz

That's not entirely accurate. My rental in KC cost me about 15k out of pocket and is cash flowing over $300 a month. I did pay market value but any quality TK value will not charge more than market value. If they do the bank is going to take issue with the mortgage. 

Equity is how you build wealth but getting a great cash flowing prop for your first investment is an awesome start.