Heres $5000, Go Make Some Money!
$5000 is nice and all, but it doesn't go very far once you start using it for down payments and closing costs.
You need to learn how to do "no money down" deals (ie, none of your own money).
I'd use a small portion of that for educational materials.
Learn how to birddog and do Sub. to.
So, hibby, subject2 oftentimes has low costs? Are closing costs low?
Jorgan, Why don't you share what your goals are? Give us your short term goals, long term goals, a hope or 2, and tell us if you have back up funds from a full time job and how much time you want to spend doing REI.
I am working graveyard and earning $1,200/month. My short term goals include being able replace my afterhour income with real estate income and then build on that. As far as long term goals I would like to increase my real estate income to $6,500/monthly. As far as time goes, I have am ready to put in as much time as is needed.
I've got a question for you Jorgan. I looked at your history of posts and some of the other questions you have posted have been about buying motels in Missouri. So if you are asking about buying a 30 unit motel in Missouri then why are you concerned about about $5000 left to you in a bond.
I am a believer of hands on experience. See, hear, feel = know the wisdom.
I would network in meetings, rub elbows, see what you can do to contribute.
Find out how to birddog + do it (It sounds like that will expose you, give you knowledge, give you money, give you first focus to branch from).
Or network with tax lien specialists.
Save more money as you look for a deal for you.
Listen to tapes from the library.
Write down your skills, areas of interests for growth. (people, repairs, numbers, laws, negotiations)
Talk to anybody who is making money and figure out if what they are doing is for you. Good luck.