How would you start REI if you inherited 180K?

[Benjamin Pifer]

If you inherited 180K, how would you start your REI? Would you consider new contruction?

[Anthony Wick]

Depends on your goals. But, I would start......slowly. Personally, I'd start with a 3.5% down FHA mortgage on a 2-4 plex. Then, I'd look for more multi family with 20-25% down payment. Don't put all your eggs in one basket. Meet with a realtor and ask them what they are seeing in your market for good investment properties.

[Caleb Heimsoth]

@Benjamin Pifer. Assuming you have no real estate experience the last thing I’d recommend is owning real estate or new construction. I’d look at notes, if you want to do REI, but first talk to a financial advisor

[Thomas S.]

If you know nothing about real estate investing take it to your financial adviser and have it invested in a moderately conservative income fund for a couple of years. Once you learn everything there is to know and you develop a specific plan you will have the answer. 

Investing in income real estate is hard work, long hours, high risk and high stress. You will be starting a business so you better be fully prepared. This is more than just investing it is a second job. 

[Benjamin Pifer]

Thanks for the replies. I've grown up around rental. I currently work for my grandfather as a property manager and also do maintenance on the units so I've learned a lot all around. So I have a good idea of what it takes. I feel confident to get started just wondering people's thoughts and ideas. I want to be smart and maximize what I get/do to have the most success possible.

[Thomas S.]

"I want to be smart and maximize what I get/do to have the most success possible." 

There is plenty to learn so start studying. Knowledge is wealth, our opinions are of lesser value.

It seems very odd that you have grown up around the business and have no idea how it works. Talk to your grandfather. Get educated and make a business plan. You need to discover what it is you want that fits based on personal research.

There is a wide range of possibilities, each person will recommend their own specialty, you must research to find your own. Our opinions are nothing more than that...opinions. You need a plan based on your own research.

[Benjamin Pifer]

@Thomas S. I didn't say I have no idea how it works. You assumed that. I said I have experience and good idea of how to run rental properties. I'm interested in people's ideas and their own experiences in buying/building. How they got started etc. Obviously I've had many good convos with my grandfather and he's given me good advice. But that doesn't mean his is the only way/best way. I like to hear other peoples thoughts and ideas who have experience. So I am studying/getting ideas.

[Benjamin Pifer]

@Anthony Wick solid advice.