Q&A: How Can I Invest $5k? – Episode 955

If you want to get started as a real estate investor, but you only have $5k to invest, what’s the best recourse? On this Q&A episode, I’m giving three ideas for getting started investing with $5k!

I’m also answering your questions on recovering a project gone wrong with a new builder, and how much it costs to get started investing with Morris Invest. As always, I appreciate your thoughtful questions. Click play to hear my answers to your questions on today’s episode of Investing in Real Estate!

On this episode you’ll learn: 

• Three ideas for getting started investing with $5k.
• What to do when a new construction deal is behind schedule.
• How much it costs to get started investing with Morris Invest.
• And more!

Three Ideas for Getting Started Investing with $5k

1. The first thing that comes to mind is my personal experience. When I got into real estate, I started wholesaling. If you’re able to find deals and send them to flippers, you could potentially save up your finders’ fees and start investing in properties.
2. Find another investor to partner with. At Morris Invest, we have a partnership program that allows two or more investors to buy a property together. You can also do this on your own!
3. Invest in real estate notes through Connect Invest. Investing in real estate notes allows you to get greater returns than you would investing in something like a traditional CD. It’s a great place to park your money as you plan out your strategy.

What to Do When a New Construction Deal Is Behind Schedule

I’ve been there with bad contractors before, so I understand the frustration in this situation. The first thing to consider is: what does your contract say? Is there a way for you to pay less or get out of the deal if the project is not completed?

I would take your contract into a reputable attorney’s office and see if there’s a way for you to get out of the contract. Additionally, if your lawyer thinks it’s feasible, you may be able to contact the Attorney General in your state. Certain states have stringent rules against contractor fraud.

How Much It Costs to Get Started Investing with Morris Invest

A typical down payment on one of our properties is going to start at around $50k. This can vary based on market, property type, etc. I always suggest scheduling a free call with the team to see what would be a fit for you. We offer a wide variety of programs, so you may be able to invest out of your retirement account or another avenue — without coming up with much cash.

Ask Me a Question at morrisinvest.com/clayton

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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

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