843: Seeing Greene: I Don’t Make Enough to Invest, What Do I Do?
You want to invest in real estate, but you lack the cash or the income. With home prices and mortgage rates so high, even a decent-paying job won’t land you a rental property or even a primary residence. So, what do you do? Should you call it quits and let others build wealth while you struggle to make ends meet? Not quite. There’s one thing you should start doing today that’ll make your real estate investing much easier.
Welcome one and all to another Seeing Greene, where David answers your investing questions in today’s tough housing market. First, Rob joins us to advise an investor struggling to buy her business’s building from her father. He wants to sell after having a rough time with this commercial property, but Shelly, our investor, wants to convince him to keep the building OR give her a chance of ownership. What should she do?
Next, David answers the trifecta of 2023 investing questions: what should you do when your pre-approval is too low? How do you pull out home equity when you’re broke? And what to do when you don’t have enough income to qualify for a mortgage? A straightforward solution solves ALL THREE of these investors’ questions, and it’ll help you, too, if you’re struggling in this market!
In This Episode We Cover:
What to do if you WANT to invest in real estate but don’t have enough money
Why DTI (debt-to-income) is SO important to investing and how to lower yours NOW
Real estate vs. stocks and why property almost ALWAYS beats simple stock investments
When to invest in a “mediocre” deal that has no-to-low cash flow
How to fire your property manager EVEN if you’ve signed a long-term contract
The secret to scaling your real estate portfolio that the gurus won’t tell you
And So Much More!
Links from the Show
Listen to All Your Favorite BiggerPockets Podcasts in One Place
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
Davids's BiggerPockets Profile
Subscribe to David’s YouTube Channel
BiggerPockets Podcast 823 on Cost Segregation
BiggerPockets Podcast 844 with Jim Kwik (Coming Soon!)
Books Mentioned in the Show:
Pillars of Wealth by David Greene
The Richest Man in Babylon by George Clason
Connect with Shelly:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-843
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