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Updated about 8 years ago on . Most recent reply

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Joseph Biscoe
  • Specialist
  • Pensacola, FL
1
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how to start with little money

Joseph Biscoe
  • Specialist
  • Pensacola, FL
Posted

Hello guys, hope this is the right spot for this question I apologize if not.  I'm looking for the place to start in real estate investing even though as of now working as a contractor I don't make enough to start buying properties what's the best strategies to get started and what advice can you give? Any help/direction is appreciated thank you in advance for your time

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There are many beginning options however none will work if you do not modify your life style to optimise your savings. Most people waste a very large portion of their income on wants as opposed to needs. Most people also do not recognise what a want actually is.

If you begin now to live frugally you will establish a strong long term strategy for successful investing.

You need to save money to be a investor, pay off all bad debt and fully understand the value of cash for investing. 

Step one is downsize your life style and find a way to save every penny. Set a goal initially of paying off all debt, stop using credit, save an additional $500/month minimum.

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