931: How to Build a Real Estate Portfolio from Scratch in 2024

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 8 April 2024

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you have just $10,000, you can start investing in real estate THIS YEAR, even with ZERO experience. How are you going to do it? In this episode, we’re breaking down the most beginner-friendly ways to build a real estate portfolio with low savings, a median income, and bills to pay. While this might not be the easiest road to real estate riches, within just a few years, you could be sitting on multiple investment properties IF you make the right moves. Dave Meyer, David Greene, and Rob Abasolo all started investing without much cash in the bank. They had to budget, save, and build up their finances to get their first rental property in the bag. But, once they started investing, it was hard to stop. Now, they all have financial freedom-enabling real estate portfolios that spit out plenty of monthly cash flow. And they’re here to help you build wealth, too! Dave, David, and Rob share their favorite ways to start from scratch when investing in real estate, how to best use $10,000 to get in the game, the one beginner investing strategy that EVERYONE should try, and how to use other people’s money to grow your real estate portfolio even faster! So, if you want to make 2024 the year YOU start investing, even if you don’t have a ton saved up, stick around! In This Episode We Cover: How to start investing in real estate with just $10,000 and a median-income job The best beginner real estate investment for those who want to get into the game How to make money in real estate WITHOUT buying a single property The unconventional advice that could give you a HUGE pay raise at work Real estate partnerships 101 and the exact pitch Rob gave his first partners to raise money for a deal The “sneaky rental” tactic that allows you to scale your real estate portfolio at lightning speed And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Ask David Your Real Estate Investing Question David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube BiggerPockets' Instagram Get Access to Expert Investing Tools with BiggerPockets Pro Network with Other Investors on the BiggerPockets Forums Grab Dave’s Book, “Start with Strategy” Hear Dave on The “On the Market” Podcast Watch Dave on the “On The Market” YouTube Channel Connect with Dave: Dave's BiggerPockets Profile Dave's Instagram Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-931 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 931.
0:04.0	What's going on everyone? This is David Green, your host of the BiggerPockets
0:07.8	Rel State Podcast.
0:08.8	Joined today by my good buddies, Dave Meyer and Rob Abisolo.
0:12.4	Excited to be here because many of our listeners have been asking us this one question that we're going to dive into today.
0:19.0	They've been wondering how the three of us would start to invest if we were in their shoes.
0:25.4	So that is what we're going to do today.
0:27.0	We're basically the three of us are going to rewind to square one, pretend that we do not have
0:31.9	successful real estate portfolios and apply our current
0:35.6	knowledge to the average situation and condition that Americans find
0:40.3	themselves in today.
0:41.3	Yeah, we're going to be doing this with some pretty stringent criteria here and we're going to be
0:45.6	starting from scratch on this episode, much like the board game life.
0:49.5	So let's get into it.
0:50.5	All right, to start the show, we all are going to be on the same page,
0:53.9	in the same position as aspiring real estate investors.
0:57.1	So let me set the scene for everyone.
0:59.1	We will have a salary of $60,000 a year,
1:02.3	which is the average salary in the United States. We will have $10,000 in our savings
1:06.4	account. No debt, but a car payment of $400 a month. We will be living with a partner and splitting
1:12.1	rent with them. The rent is 1500, so we'll each be paying 750.
1:17.0	No kids. And we live in a tertiary market outside of a major metro with strong market fundamentals often called an emerging market.
	...

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