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Updated almost 10 years ago,
Newbie Question: Invest vs Rent
Newbie here looking to get into the real estate game. Before I get started I had a few questions I was hoping to get some help with. Please forgive me if this is not posted under the correct topic.
Here's the scoop. I have about 50k to invest. I'd like to start growing that money sooner than later. Possibly acquiring a flip, auction property or rental. I'm also in the market for a new home. I live in Las Vegas NV. So here are the options I have...
1. Purchase a home for myself, and use the remaining money to invest? That wouldn't leave me much to invest with.
2. Use all the money to invest and move into a rental for the time being? I know renting for myself is a waste of money, but could allow for more opportunity for investing.
3. I currently work as a chef and make a good living (100k annually). I was also thinking about getting my real estate license to gain the knowledge of the field. Is this going to be beneficial to me I the long run?
Ultimately I'd like to get into the investment / real estate field full time. It's a pipe dream of mine to become independent and wealthy doing something other than cooking! Any and all advice would be appreciated!! Thanks in advance for the help!