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Updated about 4 years ago on . Most recent reply

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Casey Walker santos
  • Contractor
  • Nantucket, MA
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Is 50k enogh to start out with?

Casey Walker santos
  • Contractor
  • Nantucket, MA
Posted

Looking to make my first REI deal and looking for advice. I have set 50k aside to make it happen. Do you think that is enough to get started?

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Aaron W.
  • Rental Property Investor
  • Northern Virginia
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Aaron W.
  • Rental Property Investor
  • Northern Virginia
Replied

@Casey Walker santos Before deciding whether 50k is enough to invest, what is your why for investing in real estate?  Also, are you looking for cash flow or appreciation properties?  Do you need the cash flow now?  What type of real estate are you looking to purchase (i.e. single family, multifamily, self storage, etc.)? 

As far as financing, it is possible to invest with limited funds. That's great you've saved 50k, that is not a small amount!  Financing is an obstacle that should not hold anyone back from investing in real estate. If you find a great deal, then there are always funds to finance it whether through hard money, private money, investors, or partners. 

If you focus your efforts on finding the right deal, you should be able to jump into real estate with what you have saved or maybe even less.

Good luck!

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