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Updated over 7 years ago on . Most recent reply

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13
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4
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Salvatore Leonetti
  • Sterling, VA
4
Votes |
13
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New member here and first question

Salvatore Leonetti
  • Sterling, VA
Posted
Hello all! After months of thinking and seeing where my life is going at my job I have come to realize I don't want a 9-5 job for the rest of my life. I want to be financially free and do so through real estate. I look forward in my beginning career to asking and learning all I can from all of you on here and appreciate all knowledge given to me. My first question would be generally how much should I save before I start on my journey. I know that people can start with none of their money but I think for me I would. I put over 50% of what I make in my savings for my future investments and have realized I can save around 10-12 thousand dollars in 9 months. Is that a good amount of money to work with when I start out? Could it be less or should I save more? Much appreciated for all answers! Thank you!

Most Popular Reply

User Stats

275
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270
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Andrew Holmes
  • Rental Property Investor
  • Chicago, IL
270
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275
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Andrew Holmes
  • Rental Property Investor
  • Chicago, IL
Replied

@Salvatore Leonetti

First of all welcome. It's great that you can save but the most important thing is becoming good at learning how to identify great deal. That is the driver in this business. You can always partner on your first few deals. Don't wait until you have just the right amount saved. You can go wholesales or partnership flips. If you can find the deals then you are in the drivers seat. Yes you have to do more work than the person that just brings the money to the table in a deal but in the long run you will control the transactions. 

Best wishes. 

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