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Updated about 5 years ago on . Most recent reply

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Destin Naly
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I have about 5k-10k to invest, I’m not sure where to start.

Destin Naly
Posted

I have about 5k-10k to invest, I'm just not sure where to start. At first I was leaning toward SFH rentals but the big numbers just scare me, along with multi-family homes. Also thought about mobile homes, but there just so riskyyyy! Help, where can I find a mentor.

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Cameron Tope
  • Property Manager
  • Katy, TX
1,382
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Cameron Tope
  • Property Manager
  • Katy, TX
Replied
Originally posted by @Destin Naly:

@Cameron Tope - Sadly I do have debt. Car loan, and school loans. Good thing is I don’t have to pay for home or anything.

 That's great you don't have a house payment! I would use the money you're saving on rent/mortgage and get the debt down to reasonable levels while investing in some tax advantaged accounts. 

Once you've built a strong balance sheet with some cash, you'll feel much more comfortable investing (and lenders will be begging to lend you money!).

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