I am new to the real estate investing business. I currently own my own home and have approx $50K to work with for investing. Given the amount I have, which I know is not a lot, what is the best way for a beginner to begin a career in real estate investing. Personally, I know I am not ready to go out and buy a property and rehab it even if the money I have is enough. Eventually I want to get to that point. What are some other avenues? Also, does anyone recommend any of the courses offered by Robert Allen or Russ Whitney and the like for gaining knowledge. I am in Montgomery County, Maryland.
Thanks.
CDR
I believe the best way to start is as a wholesaler. You look for deals and get them under contract. Then you assign your contract for a fee. This gets you in the game and is less risky than doing a rehab to start. Rehabbing definitely has the potential for bigger gains, but if you don’t know what you’re doing, it could turn to big losses.
Get started by educating yourself. At least understand the nuances of all the areas of REI, then chose the one that truly appeals to you.
You could also attend local REI Club meetings and talk to active investors. With 50K that might be enough to bring to a deal as a partner and learn from someone that is actively investing.