Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago,
Should I invest now or later (with my situation)
Hello all, first post. I want some advice from outside my circle with people in the field. I've saved up 5k, and in September I will be inheriting 10k, and 11k in September of 2022 and want to put it all into starting in becoming a landlord.
With the 15k, I can get a down payment on some manufactured homes in my area (example, a 50k manufactured home in a 55 and up complex with no HOA fees and the Ave. Rent in the park is 1.5k); and im very eager to start, but I would have very little money saved up for emergencies or to touch up any house before gaining cashflow from the house. A few people around me are suggesting waiting a year to have hopefully 26k+, but I figure any property is a good start and I have to start somewhere and sometime. Does anyone have any idea what the smart decision is? Should I invest when (/if) I find the right property, or wait out a year for more financial security?
Thank you in advanced