Im not sure what to do

[Account Closed]

Hello Everyone!

My name is Adam Dubberly, my wife and I live in Las Vegas, NV. Unfortunately my wife and I both lost our jobs back in March. Luckily, however, we were able to save the majority of the unemployment payments and put some money in the bank. My credit is not the greatest and like I mentioned, I do not have a job. I have about 15000 in savings and I would really like to get myself into real estate to pursue a life of financial freedom. I unfortunately have no idea where to start or even if I can do anything with only 15000 dollars. Is there an suggestions out there? I did find a house that is a complete dump in Tulsa, Oklahoma that is on the market for 29,800 dollars. I would love to buy this house and somehow fix it up and sell it. I don't think the profit would be huge but it would be something. I was wondering if this would be a good place to start? Or is there a better option?

[Jonathan Greene]

If you guys both lost your jobs, have limited income, not-so-hot credit, and have only 15k in the bank to live on, I would not be looking to invest that into real estate at all. I would see what you can do about getting steady paychecks back first and then meet some local investors are REI meetups and learn. You may find a way to help, but panic investing in real estate is always bad. You need that money right now and you definitely do NOT need to plunk it down to do an out-of-state flip with no experience.