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Updated almost 9 years ago on . Most recent reply

User Stats

214
Posts
34
Votes
Vincent Chen
  • Real Estate Investor
  • Philadephia, PA
34
Votes |
214
Posts

With $100,000 in account and stable salary,where to start?

Vincent Chen
  • Real Estate Investor
  • Philadephia, PA
Posted

I have  $100,000 in my bank account and stable salary monthly,would like to jump into real estate investment to build wealth.Right now,I am working in Philadelphia.So any suggestions for the strategies I should use to start? 

Any suggestions would be welcome!

Thanks

Most Popular Reply

User Stats

209
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58
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Joseph King
  • Louisville, KY
58
Votes |
209
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Joseph King
  • Louisville, KY
Replied

Well just because you have a good amount of money I wouldn't just "jump" into real estate. That's one of the quickest ways to loose what you have, through bad investments and scams. Honestly I would take the time to learn what type of investing you would be interested in. The term "real estate " is so general, there are different types of investing (buy and hold, fix and flip, wholesaling, etc) pick one or two and focus on that. With those different types comes different strategies (low and no money down, partnerships, hard money lenders, etc). To be honest I wouldn't even try to touch the 100k.  So my suggestion to you would be self education (a lot). That's where bigger pockets comes into play with podcast, forums, blogs and networking with seasoned vets. Let me know if you have any questions and remember no question is dumb.

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