I just found $30,000...now what?

I just found $30,000...now what?

Investor · Reston, VA · Member since 2014 · 43 posts · 12 votes

Hey everyone,

So I was talking to my friend about real estate investing today, and he told me about his friend who has $30,000 and is looking to invest but doesn't know what to do with it. My friend and I have talked about REI for a couple years now but have never done any deals, so I pose the question: What are some options that come to mind if you were to come upon $30,000 as a first-time investor that will benefit everyone in the situation?

Thanks!

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y
    Erik E. personally I wouldn't take others money unless I had done a deal or was partnering with someone that I was confident with.
  • Investor · Reston, VA · Member since 2014 · 43 posts · 12 votes
    9y

    Thanks for the input @Jordan Moorhead

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y

    @Erik E. do you currently own a home? If not I'd look into househacking through a FHA mortgage. The down payment is very low and the risk is low as an owner occupant.

    I don't mean to be negative about taking another persons money but would recommend familiarizing yourself with REI before taking others money to invest. This is very easy to do in a variety of ways and I'm sure others will have great input too!

  • Investor · Reston, VA · Member since 2014 · 43 posts · 12 votes
    9y
    @Jordan Moorhead I don't have a house yet. Buying in the next 2 years would be ideal, and I have an open mind to house hacking and see it as a viable option to get started. As for my wife? We shall see...
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