What would you do? (Starting out)

[Christopher Wasowicz]

Here’s the scenario:

Image you are a complete beginner.

You have $40,000 cash

Another $14,000 in a savings account

And can draw on approx. $50,000 HELOC in your primary residence.

Assuming your goal is to BRRRR, how would you best use these resources to start? What would you hold in reserve? Would you try get more of other people's money?

[John Teachout]

I'd buy a property for all cash, renovate yourself out of pocket, then place a tenant in it and self manage it. That will give you a great real estate education.

A single family home is an asset that's pretty easy to get out of if desired so it's a good way to start in my opinion.