How to get started in real estate with only $10k

[Josh Willis]

Hi everyone! I’m very new here and have so much to learn. I have read many books and listen to audiobooks and podcasts everyday so I’m learning more everyday. I have saved up 10k and plan to keep saving but I was wondering if there are ways that anyone has used this amount of money to get started in real estate? I am not afraid of the answer keep saving and I’m truly interested in any advice I can gain from everyone here! 

[Corby Goade]

Quote from @Josh Willis:

Hi everyone! I’m very new here and have so much to learn. I have read many books and listen to audiobooks and podcasts everyday so I’m learning more everyday. I have saved up 10k and plan to keep saving but I was wondering if there are ways that anyone has used this amount of money to get started in real estate? I am not afraid of the answer keep saving and I’m truly interested in any advice I can gain from everyone here! 

 What a great start! I never had $10K to my name when I was getting started. You definitely have enough to house hack- buy a property for yourself with the intention of making it a rental in a year or so. Even better if it needs some updating, and better yet if that's enough to get yourself a small multi in your market. 

You can do FHA with 3.5% down- less in some states with down payment assistance, but you're better off doing a conventional at 5% down if you can swing it.

Not quite enough to buy in your market yet? Partner up with a friend and buy one together a be roomies for a year. 

The key is taking action, not thinking about taking action. 

Best of luck!