Congrats! You have a nice chunk of cash that you want to invest.
Yeah, you could throw it into a savings account for safekeeping, but with interest rates usually earning you less than 2% annually, you’re barely keeping up with inflation.
Luckily, if you’re reading this article, you likely already understand the concept of having money “work for you” and you want to accelerate the process of reaching your financial goals.
The fact that you’re thinking about real estate being a potential strategy already puts you a few steps ahead.
Now, it’s time to learn more about systems that allow your money to grow on its own. I’m excited for you!
So let’s talk about $30k.
What can you realistically do with that in real estate? What are your options? Can that cash set you up for a stronger financial future?
Let’s jump in!
Understanding Your Realistic Opportunities and Boundaries
I just posed this question, but the first thing to ask is, “What can you do with $30,000 in real estate?”
Well, you’re probably not buying a palace on a private island. You’re probably not buying a mansion on the beach.
But let’s be real, those options probably won’t manifest in a good return on investment anyway.
As far as real estate investing options go, the ones that stand out to me are:
We’ll touch on these options in detail later, but the point I’m trying to initially make is this: the first step is to grasp the realistic opportunities and boundaries you have with $30k.
And before you get too giddy about investing your cash, my personal financial advice to you is: just because you have $30k, doesn’t mean you have to invest it all at once. There’s no need to drop it all on a down payment, leaving you without any cash reserves for unexpected expenses that may come up.
Having to replace an AC unit, fixing appliances, repairing a water leak, and patching a roof are all expenses that may surprise you out of nowhere. As a property owner, you’ll have to address them and ensure a safe and livable property.