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Updated almost 6 years ago on . Most recent reply

User Stats

61
Posts
46
Votes
Patrick Crehan
46
Votes |
61
Posts

11k saved for an investment prop... NEED A CONFIDENCE BOOST

Patrick Crehan
Posted

I have 11k saved for my first investment property. I am going to house hack this prop for a couple years (with an FHA loan). I can save up a little more while on my journey of searching but I need a little confidence boost. Has anyone started out in this situation before? Was it worth it? Does anyone have stories, suggestions or ideas that can give me the boost I need before I pull the trigger on a prop? If you do.. PLEASE SHARE. It would be much appreciated.

(Don't try to scare me out of buying a property.. this is a confidence booster post!)

Most Popular Reply

User Stats

117
Posts
235
Votes
Kyler Cook
  • Rental Property Investor
  • Kalamazoo, MI
235
Votes |
117
Posts
Kyler Cook
  • Rental Property Investor
  • Kalamazoo, MI
Replied

@Patrick Crehan

20% of Americans don’t save a single dollar a year

Over 40% of Americans have less than 10k saves for retirement

56% of millennials have no retirement saved, not a dollar

Two thirds of Americans couldn’t cover a 1k emergency without using debt

50% of Americans save less than 5% of their DISPOSABLE income.

Here’s your confidence booster. You aren’t normal. You’ve done what a majority of people never will already. Play slow and steady and your great grandkids will feel the effects of your life. Don’t try to do everything, just one thing at a time.

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