Tired of Renting? How to Save for Your First Property in ONE Year (or Less)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 19 May 2025

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Many rookies assume they’re years away from buying rentals, but what if your first (or next) property is much closer (and easier) than you think? Today’s guest devised a detailed plan that took him from having no real estate experience to closing on his first rental property in just ONE year. Tune in to learn the tactics he used and how YOU can copy his success! Welcome back to the Real Estate Rookie podcast! Aaron Mann was tired of renting, hopping from apartment to apartment, and paying someone else’s mortgage. Once his wife convinced him that homeownership was not just a dream but very achievable, they curbed their spending and saved aggressively. But that’s not all. Aaron also launched a few creative side hustles that boosted their income, accelerated their down payment saving, and helped them buy their new home sooner than expected! The best part? Now they’re using the house hacking strategy to help cover their mortgage payment. Whether you’re actively saving for a home or need an inspirational nudge to get started, this episode has something for you. Aaron shares the “MOAT” method that helps him find side hustles worth scaling, how to negotiate with sellers, and more! In This Episode We Cover How to buy your FIRST rental property (much faster than you think!) Fast-tracking your property down payment with wildly creative side hustles Having others pay down your mortgage through house hacking Maximizing your monthly rents with the rent-by-the-room strategy How to discover scalable side hustles using Aaron’s “MOAT” method And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/rookie-563 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Getting started in real estate investing often feels impossible when you're paying down debt or you're battling the cost of eggs at the supermarket.
0:08.1	But today's guest proves that with strategic side hustles and some determined savings, you can get that first property that will set you up to scale.
0:18.7	Aaron Mann recently purchased his first single family home after saving for over a year.
0:25.2	So what makes his journey particularly interesting is how he was actually able to leverage
0:29.9	multiple income streams to make that happen.
0:32.8	So whether you're struggling to save your first down payment or looking to accelerate your
0:37.1	investing journey, you'll want to learn Aaron's first down payment or looking to accelerate your investing journey,
0:38.0	you'll want to learn Aaron's practical approach to building wealth through real estate and
0:42.5	side hustles.
0:48.6	This is the real estate rookie podcast. I'm Ashley Care, and today we have Garrett Brown with us while Tony is out. So
0:56.3	Garrett, thank you so much for being here. Always an honor to join and always fun to talk about
1:01.3	side hustles and getting your investment journey starting. So I'm super excited for today's episode.
1:05.9	And also a big welcome to Aaron Mann. We're super excited to have you back on the show.
1:11.7	Yeah, it's great to be back.
1:18.0	Honestly, when I came on here a year ago and told you I was starting to look into investing into a property, I just wanted to come back and make sure that you all know that I wasn't a liar.
1:21.9	You held true to your word. Okay, so Aaron, let's kind of start a little bit with your
1:25.9	background. What specifically sparked your interest and where are you now?
1:31.3	Well, my wife, basically, is what started my investing journey and telling me, you know, we live in Chicago.
1:40.0	Rent is very expensive.
1:42.2	You work with a bunch of people that invest in real estate. I'm trying
1:45.1	to learn as much as possible so that I can try to convince you that we got to get out of this
1:49.7	apartment hustle, so to speak. So basically, we were starting to pay rent at around like the
	...

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