Buying Real Estate and saving up tips

Member since 2020 · 122 posts · 11 votes

Those who have bought real estate or have lots of money saved up could you please give me tips on how to save up money to eventually invest in real estate.

Do you chuck leftover money after bills and other expenses into a savings account and forget about it? Do you hide cash under your bed? Etc

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Jonathan GreeneBusiness Member

Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes

Read The Richest Man in Babylon by George Clason. It will literally answer those questions and give you a mindful overview on how to save money. In short, you should be parceling off everything you make in parts. Some for taxes, some for future, and living on as little as you can.

[email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro

Zen and the Art of Real Estate Investing59 Reviews

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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
6y
Read The Richest Man in Babylon by George Clason. It will literally answer those questions and give you a mindful overview on how to save money. In short, you should be parceling off everything you make in parts. Some for taxes, some for future, and living on as little as you can.
[email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
Zen and the Art of Real Estate Investing59 Reviews
Website View Page
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Michael Robbins
Property Manager · Henderson, NV · Member since 2018 · 501 posts · 317 votes
6y
I make sure that I am not paying any interest payments on any credit cards, car payments, furniture, etc..... The only exception is mortgage payments. I also do not have any unnecessary subscription services. And finally, I save up (in money market) even amounts with any unexpected cash flow. For example, if I normally earn 1,000 on a check but one month earn 1,100 instead, then I save the $100. Its the little things over time that really add up. Seems elementary and simple but its the fundamentals that win the game. Not having debt enables you to build wealth. There are so many people that have all sorts of schemes but its just a facade.
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Lien VuongBusiness Member
Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
6y
The book @Jonathan Greene suggested changed my relationship with money and debt. It's put in simple words and gets to the point. Essentially, reduce your expenses, pay yourself first, pay others after.
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The Elle Group5154 Reviews
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