What to do with $50,000

Hello I am new here, this is an awesome forum. Tons of great information and knowledge here. I really want to start in REI, I have $50,000 to start up.
I live in IL. It is really close to North West Indiana where I want to start up in. I am looking into getting some multi fam units out there. I want to hold on to them and rent them out. I am all about the positive cash flow.
Any tips or advice would be appreciated on how I should take the first couple of steps or if someone can point me in the right direction
I have been looking at a couple of properties, reading a couple of books, and I am just very scared to take the leap ( but will and want to)

i’m buying in indiana too.

i’d buy some multiunits for cashflow. make sure you get atleast 30% cash on cash return.

check out this link for more info on this.


I would start reading Nickerson´s book. If you didn´t yet, you must do it before you invest your money. It will give you an excellent strategy right from the beggining. Oh boy, how many errors it had prevented me, if i had had a piece of advice like this 15 years ago?!


Thanks for the replies what exactly is the name of that book, i have not heard of him. Thanks

Hello, If your scared to get started, then you may want to get more of an education about RE. Have you considered joining a REI club in your area? $50K would be a terrible waste if you proceed without truly knowing what direction to go. What part of RE are you interested in? Foreclosures, flips, wholesale, rehabs, residential, commercial, etc. You will want to have a plan of action to follow.
Once you have your direction and you feel that your better prepared, then proceed. There is always a wealth of knowledge here on the postings. If you have any questions as you go along, just ask.

Thank you very much. I wanted to get a duplex or fourplex to start me out.

Hi again,

When we haven t any prior experience prudence is the motto!

William nickerson´s first RE book initialy printed in 1959 was “How I turned $1,000 into 1Million in real estate in my spare time”, then in 1969 he printed a second one with 3 Millions in the title, and finally he printed his magnus opus in 1984 with 5 Millions in the tittle.

Logicaly the books are out of print now, but you can get one of them easy enough, by going to amazon.com and see the used offer: you can see prices arround $28.95 (1959 edition), $23.58(1969) and $67.77(1984), and i assure you that they really worth every penny ( i´ve the 1969 edition with 3 Millions in the title- the last one, though being the most expensive, should be “more updated”).

Actually, Nickerson have two more book on REI, but i don t know them, not yet ( because i ordered another 2 weeks ago- “Nickerson´s no-risk way to real estate fortunes”).

There is another unexpensive book written by a friend/partner of Nickerson: Albert Lowry that you should study- “How you can become financially independent by investing in real estate” ( sells amazingly from $0.54!!!), and is much better than some new books that abound in todays market ( i also have this one).

Go on to amazon and then tell me something.

here’s some more good books.


Here are some good books that I have read.

Millionair Real Estate Investor by Gary Keller
Missed fortune 101 by Doug Andrew
Flipping Properties by Peter Conti and David Finkle.