How did you raise the money for your first deal?

[Matt B.]

Hey all, I'm new to personal REI and had some questions. How did you all start off?

I'm 27, make good money but have bills to match my income so it's hard to save up. By bills I mean mortgage, student loans and a modest car payment. No other debts and I barely spend money. It's not that I have trouble saving due to over spending or leaving above my means. I have a budget but again my after tax income is about 105% of my monthly debt obligations making saving for a second property very tough. How did you guys do it? 

[John Oyedele]

I'm kind of in the same boat as you (33, have student loans, some credit card debt, make good money). Add to that new wife and 4 kids. We decided to live below our means as much as possible and focus on building up savings and paying off high interest debt (credit cards and possibly car note). I have chosen to not worry about paying off student loans bc I feel like I can get a higher return on my money from investing. It definitely is delaying my entry into the game, but in the mean time I'm looking to build my network, continue learning and who knows I may be able to find a partner willing to put up the capital for a property and I'll put in the sweat equity.