Live on Half Your Income & Invest in Real Estate
Investing in real estate takes in most cases, both money and relationships such as JV partnerships. Investing in real estate costs money. The more money you can put aside to invest, the more you can potentially earn in returns. And ultimately, that’s the goal: creating financial freedom by making more money. Logically before someone throws money at you or enters into a JV partnership they would want to see somewhat of a track record. Proverbially chicken and egg. In order to start investing in real estate you need money for your deposit. The way to start is cut your living expenses. Yes it could be a little uncomfortable…But do you want your pleasure now and like most that hardly have 1000 £ in the bank or have a future for your and your family?
Share some tips that I used when starting out in business…actually in college in 1980.
1.Housing is most people’s biggest expense, so start by looking to cut there first. Look for a room mate and use spareroom.co.uk
2. Buy on Ebay and buy used. You will save a ton of money!
3. Forget about the bars, pubs and restaurants- These are a cash vacuum cleaner
4. Keep your day job and have the audacity to ask for a raise
5. Make a budget with the goal to save money for your deposit.
6. Go to the local PIN meetings and real estate meetings to learn and network
Basically delay short term gratification from long term gratification
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