#AskBP 047: How Do I Save up Enough Money for a Downpayment?

by | BiggerPockets.com

The majority of first time real estate investors will use financing from a conventional lender, combined with a downpayment of their own personal savings.  But how can investors save up enough for this downpayment?  In this episode of the #AskBP Podcast, Scott shares his story, as well as his suggestions, on the best way to earn more and spend less to speed that first investment.

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About Author

Brandon Turner

Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. He began buying rental properties and flipping houses at age 21, discovering he didn’t need to work 40 years at a corporate job to have “the good life.” Today, with nearly 100 rental units and dozens of rehabs under his belt, he continues to invest in real estate while also showing others the power, and impact, of financial freedom. His writings have been featured on Forbes.com, Entrepreneur.com, FoxNews.com, Money Magazine, and numerous other publications across the web and in print media. He is the author of The Book on Investing in Real Estate with No (and Low) Money Down, The Book on Rental Property Investing, and co-author of The Book on Managing Rental Properties, which he wrote alongside his wife, Heather. A life-long adventurer, Brandon (along with his wife Heather and daughter Rosie) splits his time between his home in Washington State and various destinations around the globe.

2 Comments

  1. Angel Rosado

    Once again a great podcast…This is something that I’m currently working through getting the down payment for that first one. Considering that I’m in nyc I have to get about the same down payment of at least 20k. Didn’t think about tutoring, may make this part of the plan.

    Do any investors think it gets easier after the first one?

  2. Michael Powers

    Great podcast. I love your point that every time you earn a dollar, you only take home 80 cents after taxes, but a dollar saved nets a full dollar of value. I always found that cutting expenses added more to my asset column than working extra hours, but I never really understood how that happened. Of course, it seems so obvious now! Thanks Scott!

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