Is it possible to buy a rental with only 5k in your savings account? Would it be stupid to buy a currently rented property with only 5k to fall back on?
I was thinking of putting money into marketing and wholesaling to build up reserves.
What is a good minimum amount of cash to fall back on when going into the rental business?
Yes, it is possible to buy a rental with only $5K in savings. All that is really necessary is that you have a reserve, either cash or credit. The more important issue is whether you buy at a BIG discount and will have positive cash flow.
Learn wholesaling, learn the art of the deal, build your capital, buy rentals and repeat.