Building a Strong Financial Base for Real Estate Investing | 6min snip from BiggerPockets Real Estate Podcast

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931: How to Build a Real Estate Portfolio from Scratch in 2024

BiggerPockets Real Estate Podcast

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CHAPTER

Building a Strong Financial Base for Real Estate Investing

The chapter emphasizes the importance of improving one's financial situation before venturing into real estate investments, advocating for strategies like increasing income and saving diligently. It underscores the need to lay a solid financial foundation to set the stage for long-term success in the property market, starting with an approach like house hacking.

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If you have just $10,000, you can start investing in real estate THIS YEAR, even with ZERO experience. How are you going to do it? In this episode, we’re breaking down the most beginner-friendly ways to build a real estate portfolio with low savings, a median income, and bills to pay. While this might not be the easiest road to real estate riches, within just a few years, you could be sitting on multiple investment properties IF you make the right moves.

Dave Meyer, David Greene, and Rob Abasolo all started investing without much cash in the bank. They had to budget, save, and build up their finances to get their first rental property in the bag. But, once they started investing, it was hard to stop. Now, they all have financial freedom-enabling real estate portfolios that spit out plenty of monthly cash flow. And they’re here to help you build wealth, too!

Dave, David, and Rob share their favorite ways to start from scratch when investing in real estate, how to best use $10,000 to get in the game, the one beginner investing strategy that EVERYONE should try, and how to use other people’s money to grow your real estate portfolio even faster! So, if you want to make 2024 the year YOU start investing, even if you don’t have a ton saved up, stick around!

In This Episode We Cover:

How to start investing in real estate with just $10,000 and a median-income job

The best beginner real estate investment for those who want to get into the game

How to make money in real estate WITHOUT buying a single property

The unconventional advice that could give you a HUGE pay raise at work

Real estate partnerships 101 and the exact pitch Rob gave his first partners to raise money for a deal

The “sneaky rental” tactic that allows you to scale your real estate portfolio at lightning speed

And So Much More!

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