Reducing personal expenses to save more over time

[Romero Silvestre]

Hi everybody! New member and first time posting here. I’m looking to get started in real estate. I am particularly interested in rentals for their long term stability and wholesaling for raising cash.

Raising cash is why I’m posting today. As I said above I’d like to get started and am leaning towards buying a multi family rental. Where I’m getting stuck is finding liquid cash. I want to be able to raise funds faster for a down payment and in general.

My questions is this: Does it make financial sense to use a chunk of cash I currently have saved to pay off some debts to reduce my monthly expenses? The way I see it is that by having fewer fixed expenses I will be able to save more money faster. I would recoup the initial chunk in roughly 6 months and would be able to put away much more than I can now.

Any and all advice and comments are appreciated. Please share the reasons you feel this is good or bad. Thanks in advance and I look forward to being on here much more!