The best path with $80k as a new investor in a hot market

[Trey Sutliff]

Hi All! I'm a new investor licking my chops

to get in the game. I live in Stamford, CT (30 miles outside NYC. Needless to say, Fairfield County where I live is expensive and so are most neighboring towns. I have about $80k I can start with to get my investing underway.

If my goal is to build wealth, do I get multiple homes in less expensive neighborhoods out of state ( where I'd need to go turnkey)or stay in state where I can maybe get 1 or possibly 2 properties but stay closer to my investments. As a rule of thumb, what is the best bang for my buck?

Thank you!

Trey

[Brad Hammond]

Hi @Trey Sutliff.  Congrats on getting started in real estate investing!  If you are looking for bang for your buck, I would stay away from turnkey.  Not that there is anything wrong with it but they have already done all the hard work and made most of the money.  I would recommend doing something closer to home that needs a little bit of work.  That way you can get forced appreciation and cash flow.