EXTRA CASH FLOW FOR STARTING UP

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Everyone , has to start from somewhere , some had a head start some late , but how do you start saving up that $10,000  down payment for your first property  ? What were some side hustles you used to help bring in some extra cash ?

Partner with someone that has the money for that one property.  Flip the property.  Continue to repeat flips by reinvesting original partner's cash and profits into each subsequent deal(s) until you have your own seed money ($10k, $20k,...?).

Then, do what you want.

Originally posted by @Sherrod Mcgowan-green :

Everyone , has to start from somewhere , some had a head start some late , but how do you start saving up that $10,000  down payment for your first property  ? What were some side hustles you used to help bring in some extra cash ?

 The easiest and most tax efficient money you will 'make' is what you don't spend.

Ask yourself where each purchase will put you in a year, 3 or 5.  Is that $10 lunch + the time that necessary?  Try brown bagging. How about that car payment? Stealing your cash and your future while dropping in value.  Games, clubs, clothes, phones, all drop in value and will leave you worse off a year from now.  

Each dollar you spend takes $1.30 to earn.  I happily 'save' $90k per year, but I am weird.  Earning $120k sounds like a full time job. LOL

I had to make some dramatic changes in order to save up. Just a few things I did to help me save (and they added up):

- Cut out the cable and use wifi/Netflix 

- Make coffee at home 

- Stop eating out, only making it a special occasion here and there

- Stop buying unnecessary clothes 

- Switched from a 35$ a month gym to a $10 a month gym

- Cut out "snacks" when grocery shopping

- Quit smoking cigarettes 

- Be mindful of utilities, shut off lights at night, don't leave them on

- And most importantly, stay busy. You spend less when you are too busy being productive

All these things added up to hundreds of dollars a month in savings. I never realized how big of an impact some of these had on my finances until I actually made the change.

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