[OnlyTheNuts]

I have an uncle who is into real estate and very very successful. During a converastion last summer I expressed to him I am interested in investing, real estate, etc and he said he would give me $10,000 to try to invest and if I lose it, its on him. So ofcourse I don't want to pass up this opportunity but really would like ideas on what some more experienced investors would do with this money. I thought about using it to get a loan from the bank to buy a house and rent it out but am just trying to see if there are other things I could do.

I've been reading books about investing in real estate but certainly have no experience but I figure it would be a learning experience at no risk to me. What would you guys do?

[Lex]

My god some people are lucky. I wish i had an uncle give me $10k.

I dont think i would go for a loan, because it means if you fail then your stuck paying the loan which your uncle isnt going to pay for you, however i think you have a good idea there of getting a house and renting it out, you just need to find the right property for as low as possible.

Try to look at a house that has been on the market a while that way you can really get the price down with the sellers as they will be no doubt sick of not having it sold.

Good Luck

Keep me informed of how you do, id like to know.

Lex

[F360]

I would go hunting for houses, then running them by your uncle to hear his opinion on them. Also a little more info about your age/location will help with suggestions. Also can you afford a mortgage?

[pollution]

I would not rent, that is a hassle and the renters can be late with payment, and then you have the renters moving in and out, and sometimes the renters sell drugs and can be party animals(renters live across the street here). Buying and selling propery and or houses is what I would do.

[Outta Hand]

Sounds like an interesting proposition you've been given... regardless the money i would take the time to learn from your Uncle as he is successful which in time could lead you to your own success.

As for more experienced investors, you've got access to one... your Uncle... i am sure that he could help you and that is really the purpose behind the 10 K

If i were you i'd sit down and have a talk with him and go from there.

Originally Posted by OnlyTheNuts

I have an uncle who is into real estate and very very successful. During a converastion last summer I expressed to him I am interested in investing, real estate, etc and he said he would give me $10,000 to try to invest and if I lose it, its on him. So ofcourse I don't want to pass up this opportunity but really would like ideas on what some more experienced investors would do with this money. I thought about using it to get a loan from the bank to buy a house and rent it out but am just trying to see if there are other things I could do.

I've been reading books about investing in real estate but certainly have no experience but I figure it would be a learning experience at no risk to me. What would you guys do?

[mgxsolutions]

I would not rent, that is a hassle and the renters can be late with payment, and then you have the renters moving in and out, and sometimes the renters sell drugs and can be party animals(renters live across the street here). Buying and selling propery and or houses is what I would do.

I have been in real estate for years and have not had any of these kinds of problems. If you have, then you are not properly screening your tenants.

As far as the original question, you seem to have a fountain of knowledge in your uncle. I would ask him to be your mentor. This will be more valuable than 10K in the long run. If he has had success in real estate, ask him to mentor you and teach you what he knows.

If real estate is not your thing, what is? Business, stocks? If you invest in what you know, you will succeed. If you do not have an area of expertice, perhaps you can invest a portion of your money into learning more about specific areas of investments (books, CDs, etc.)

[yuyiko]

I have not done any kind of invesment before.
I think that you should fellow the advice posted and another thing-
work as real estate agent or a post in estate agent office at the same time..

for the experience, commision, and most of all, to find the best deal @ the same time...

[gambit]

You can flip it. You can find a bargain house, renovate it and sell it.

[fisk73]

Buy 10 shipping containers, and a small piece of land in town, and rent out each shipping container for about $200/ month. No upkeep, and you will be making about $2000/month for a long time, and then with the money you make keep buying more, and putting them in different places around your town. (That way you can target different people that need storage in different areas.) Before you know it you will be making $10,000/month.

[NeeJam]

Originally Posted by fisk73

Buy 10 shipping containers, and a small piece of land in town, and rent out each shipping container for about $200/ month. No upkeep, and you will be making about $2000/month for a long time, and then with the money you make keep buying more, and putting them in different places around your town. (That way you can target different people that need storage in different areas.) Before you know it you will be making $10,000/month.

not a bad idea, but i agree with gambit but a house, renovate it and sell it on for a nice tidy profit.

[Outta Hand]

Originally Posted by nik_b02

not a bad idea, but i agree with gambit but a house, renovate it and sell it on for a nice tidy profit.

if you are thinking of doing a RENO project you may want to check out these guys out of australia... they've been doing this sort of thing for 25+ years

http://renos.com.au/

I remember reading about them a while ago and found their information interesting and different... i also think looking at www.biggerpockets.com would be good and thecreativeinvestor.com

Two sites i frequent from time to time may be of some help but i would still say learn from that uncle mate!