How I saved enough money to invest in real estate
August 9, 2017
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18:04Now PlayingHow I saved enough money to invest in real estate
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as posted by the channelI don’t think it’s a secret that I earned my money by working as a Real Estate Agent, although these are a few of the nuances that helped me save as much as I could to begin investing in Real Estate and buying rental properties. The biggest tips: decreases your expenses as much as you can, save as much as you can, and work on increasing income. Add me on Snapchat/Instagram: GPStephan
1. Decreasing expenses. I’d view all the money I didn’t spend as additional income, because I was money I had “saved.” Weird mental gymnastics, I know, but avoiding spending $50 on dinner or $40 on drinks was just like I had “made” that much money by not spending it.
2. All the money you save is in your control. It’s also easier to save $20 by not spending it, than it is to make additional money to pay for it. For instance, an increase of $20/day income is really more like $14 after taxes. So you need to make $20 to pay for a $14 item, after taxes.
3. Viewing money instead of at its face value, but at its investment return. $100,000 isn’t $100,000…it’s $10,000 a year for life in rental income, for example.
4. Work on increasing your income. You can’t get something for nothing, so obviously this still requires you to go out and make money.
From there, you should start to begin to see an increase in savings, which you can then use to begin investing. In the mean time, continue to do your research, read as much as you can, and learn as much as you can with regards to investing. Enjoy!
For business inquiries, you can reach me at GrahamStephanBusiness@gmail.com
Suggested reading:
The Millionaire Real Estate Agent
Your money or your life
The Millionaire Real Estate Investor
How to Win Friends and Influence People
Think and grow rich
Awaken the giant within
The Book on Rental Property Investing
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