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Updated over 4 years ago,
Advice for a begginer
Hey Bigger pockets.. seeking a little advice here. I have been studying up on real estate investing for the past 7 or 8 years. Talking to whoever I can, reading, asking questions on here etc.. I have been putting money back the last couple years in hopes of beginning my real estate investing journey soon.. I currently have about 35k put back.. with that said, unfortunately my mother passed away 5 months ago. My mother left her home which is paid off to my brother and I. The house is in a bad area and needs a ton of work. Talking 40 to 50k. I have had a couple investors come look at the house and have received offers of 53k and 65k cash as is.. My brother wants no part of keeping the house or trying to do any repairs. I gave some thought of maybe buying him out for 30k, but this would take all of my savings and leave me no money to repair the home.. I'm also a little hesitant to try and do such a big project my first go around.. is it in my best interest just to sell home to best offer and add the money to my current savings and begin my REI with close to 70k? What would you guys/gals do in my shoes?