Cold calling is a great idea to get started, but maybe try connecting with local real estate groups or online forums too—they can sometimes have off-market deals.

Do the math and you'll see it doesn't make sense.The best way to invest: increase earnings, reduce expenses, and save.

That shows real estate can be possible for anyone; in my opinion, I know everyone has unique and challenging situations, but in principle, anyone who can follow some basic budget fundamentals can save up enough for a down payment.Grateful BiggerPockets continues to bring more people into the industry!

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These were investments, the value of the assest are there, its the liquid that ran short and had to resort to credit cards to fix up the propertyYou spent $50k from savings, borrowed $50k from a 401k, and are paying it back over five years at around 7.5% interest, then borrowed another $40k from credit cards and are paying that back at around 8% interest, maybe more.

I'm sure he could give you some pointers on setting up a business and creative ways to save money.

- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

It will save you tens of thousands of dollars if not hundreds of thousands of dollars. 3.

If you’re not a real estate professional and over $150k, your best bet if you’re looking for tax savings is short term rentals.

To be honest starting out seems overwhelming and scary especially considering investing much of savings into a property that may or may not be successful.