Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

132
Posts
51
Votes
Jonathan Beemer
  • Investor
  • Broken Arrow, OK
51
Votes |
132
Posts

Where to begin with limited amount of cash?

Jonathan Beemer
  • Investor
  • Broken Arrow, OK
Posted

hi, I am new to BP and REI in general.

Wanted to see your thoughts on where to begin on a limited amount of money and no credit: let's say 15k cash available.

- Buy a foreclosure for 10k and put 5k into it?

- is there a way to team with someone in flipping a property to split 50/50 or deserved percentage per party?

- any other option?

Most Popular Reply

User Stats

798
Posts
171
Votes
Pete T.
  • Real estate investor
  • Las Vegas
171
Votes |
798
Posts
Pete T.
  • Real estate investor
  • Las Vegas
Replied

finding loans in some areas for less than 50k can sometimes be difficult.  Just make sure you leave yourself some wiggle room, as buying to flip has even more risk that you need cash for.  That doesn't sound like a winning formula as even if it goes right, between loan costs, repairs, closing, and carrying costs- you aren't left with much for the risk IMO, but there are a lot of people here that flip more than I do.  I typically buy and hold.  @J Scott

Loading replies...