How to Start Investing with $20K and Creating Cash Flow in 2024
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- Опубліковано 5 чер 2024
- Episode #882
A few years ago, everyone was wondering how to start investing in real estate, but now the question has switched to “Is it too late?” If you’re stuck on the sidelines but want to get into the real estate investing game, this Seeing Greene is for you.
The man of the people is back for another Seeing Greene-style show! This time, David is answering questions from new investors, experienced investors, and everyone in between. First, we’ll hear from an investor who’s wondering about the value of a low mortgage rate, especially when buying a new build. Is a lower rate worth a higher price? Then, David tells you how to convert your home equity into a new investment property and what you MUST know before getting into commercial real estate. A college student wants to know how to use his $20K savings, and a “late starter” searches for cash flow in a market that’s dry as a desert!
Want to ask David a question? If so, submit your question here (www.biggerpockets.com/david?u...) so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot!
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Ep 869: Why NOW is The Time to Buy a House (BEFORE Rates Go Down):
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How to Start a Real Estate Portfolio with Just $10K:
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Show notes at: link.chtbl.com/BPRE
00:00 Intro
01:05 Low Rate Worth the High Price?
06:00 Turning Equity into Commercial Real Estate
13:33 Comment Section Call-Out
16:14 How to Start with $20K
21:53 Starting Late, But NO Cash Flow!
25:11 Ask David Your Question!
I love these "Seeing Green" episodes. It would be interesting to do something like Finance Friday on the Money show where you work with one individual or couple and help them develop a strategy to meet their goals.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits, such as regularly setting aside money for sound investments.
Great information, excellent advises and I really appreciate honesty and transparency. I am a Real Estate Agent and investor in Chicago Il
Very honest information great video
indeed !
Where do I start if I have $150k cash on hand to start with? And access to another $175k cash in my reserves if needed. I love your channel and have watched several episodes over last several months. I want to buy & invest in cash flowing properties. I do have some know how in real estate and construction, its just that I have never owned rental property.
Is the BRRR Method book good place to start ?? Thanks for all you guys do here.
Love the line when you said to find a job that's so hard you have to pray not to make mistakes before you go in. That really struck me... I guess I subconsciously thought higher paying jobs were ones you had to be good at naturally! Seems silly, now that I think about it. Only practice makes progress.
I have one long term rental property that I paid cash for about 3 months ago. I'm looking for a hard lender to finance my next property until I have my first property an year.
“how can invest my $20k?”
“be like me and have $100k”
Click bait
He literally said this 😂
"I don't mean to compare me to you" ... ***directly compares themselves***
How was this supposed to be received as positive, let alone helpful feedback? People have different backgrounds, inherited family wealth, flexibility to move life around in order to free up hours to work (and make money), etc. and to assume a 19-year old has the ability to 5x his life savings by "working late in a restaurant" -- even though he later goes on to say he should be pursuing harder jobs that force him to "pray before he goes in" -- is just absurd. Pushing yourself is one thing, but unrealistic lifestyle expectations and jobs that you literally are forced to ***pray*** for a decent shift, are completely nonsensical, mentally-deteriorating circumstances.
I'd tell the kid to find family or friends who want to partner up, seek anyone who will loan him money to get him started, or simply research other markets where $20k will an impact. They're out there.
Some of the more recent BiggerPockets podcasts are walking the line between helpful and arrogant.
That was the worst part. Dude is out of touch.
Adjusting for inflation and interest rates and we're talking:
"be like me and have $500k"
Las Vegas does not have basements, but does have casitas,,,,
I’m an architectural designer, I’ve been dreaming of shifting my skills into creating unique rehabs to convert my W-2 job into passive income. I would love to owner build it but I can’t project manage my career, and a real estate side hustle. What’s a good way to find a good contractor to work with to achieve my dreams.
Got to home depot or lowes or menards around 7am or around 7pm. Those trucks and vans in the parking lot are the ones that take care of their customers. Option B, drive new construction sites and talk to the workers for the gc info.
Awesome advice!
Thanks great idea!
❤
??I hear you say you can create cash flow by putting more money down when buying. I would think that the cash flow would be negated by adding more money to your down payment. Do I have stinking thinking???
Yeah it's kinda weird. But if you put more money down then your mortgage payments go down and then you have more options for renting it out or renovation which would then increase the value and then you can charge less money for rent than everyone else and still cash flow.
It's about lowering the payments. More up front makes long-term cash flow easier and more probable.
I’m a licensed real 14:00 estate broker on a business in Tampa currently managing 44 doors and over $10 million in sales, would love to add value to the podcast 20 years experience in this business, public communication, human relations major in college
William should save for an apartment, not a house. He's young enough to skip all that low stuff.
Over two months ago my Investment Advisor sold my 6,300 Telsa shares and bought Palanti, Nvidia and SMC. Wow i was lucky she made those moves because i am way further ahead. from what i have witnessed it all comes down to having a Licensed investment Adviser to handle your portfolio and execute your trades.
This is a REI pod u BOT
I’d imagine he has little to show on his tax returns. How is that kid gonna purchase a house with traditional lending? lol unless he get someone on the loan with him.
“house hack”…. What a bull shit term…
It’s called “ getting roomies”… which totally sux…. Unless you’re still in college or less than five years out of college.
Older than that…..it’s called a rental
Join the military and get a VA loan kid. Plus you have income. Problem solved
Va loans are great for equity but cash flowing with no money down is difficult. Bottom line. He would need more than 20k
@@robbysanchez6514 False, you house hack. Problem solved. I have two VA loans and rent the rooms!
Bs clickbait
First step : get out of California
Rambling nonstop.
You’re old aren’t you?