How to Start Investing in Real Estate in 2024 on an AVERAGE Salary

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!

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00:00 Intro

00:50 Starting with $10K

08:54 1. House Hacking

14:03 2. Co-Hosting

16:13 3. Going Back to School

17:55 Best Type of Property

22:43 Partnerships

29:05 The "Sneaky" Rental

34:32 Start from Scratch!

[treydeuce]

If all I have to my name is $10k, using it to go to seminars when there’s free info on here is insane.. I’m putting it in the stock market (Voo) and letting it grow as I save more money.

[Muriel-]

I've been thinking about getting into real estate investing, but it seems like you need a ton of money to get started.

[DanielDoesRentals]

Dave has the best advise. Take the 10K and partner up with someone else (preferably with some experience). I would also make sure both of our skills are different that we bring to the table. For example how I got started is, my cousin had some money but no handyman/contracting skills. I had the skills and not a lot of money. We partnered together 50/50 and made it work!

[theladybossdiary]

I will never invest $10k to education alone

[SangayJonna]

Grateful for the expertise and ongoing support from Gerald Robert Hayton! Thanks to his guidance, I've been able to make informed decisions and see real growth in my investments. Highly recommend his advice to anyone looking to dive into REITs

[nicholasshaw]

So 3:20 in and the first suggestion of what to do with $10, 000 is give it to Bigger Pockets....lol

[aprilvancleve]

I absolutely loved this format! I would love to hear the three of you talk more on different subjects! Things like how you'd approach lending, contractor problems, evictions, or how you like to invest (outside of RE). It could be called the DRD Show!

[zackgallik]

Best way to invest? First answer is give us your money.
There was a time when BP condemned "the guru"
Now they've become exactly that.
We have to go back!

[iamstan_rimp]

Take that $10k and buy a piece of land. Rent it for camp site…tiny house park(maybe 3/4 tenants) that’ll get you some passive income.

[AprilRae]

Absolutely enlightening episode, guys! 🏠💡 The step-by-step breakdown of starting in real estate with a modest $10K is exactly what many of us need. It's easy to get lost in the glamour of big deals, but this brings it down to what's actionable for someone like me. Could you dive deeper into managing capex and maintenance costs effectively on a tight budget? Also, any tips for someone living in a high-cost area but earning an average salary? Love the practical advice and real-world applications!

[KiKi.Nash]

How to invest with $10k. Save more $ & have more than $10k. Great. Lol

[Dashabell.]

I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million..

[mdl]

@0:43 “pretty stringent criteria.”

Bro, that’s my life you’re talking about. 😂

[lifewithjack]

What do you guys know about crashpads? Could you do an episode talking about that and if it’s worth it. Being in the airline industry it just seems to make sense and smart to do.

[ClickAndMortarMedia]

Excellent & great logical plan at the end by David & added thoughts by Rob! Thank you. Hey Rob: keep eating the Guac, for mental energy, and add some of David's broccoli. Great Combo!

[JarinXeno]

No one really talks about equity much but it's probably the most powerful part of real estate. And you can start building it with your primary residence then pull it out to use as a down on your next property.

[RealS-vh]

What does David mean by "ten thirty one"?

[kimberleyrivera]

Thank you for this video! Very informative! I’m currently up 10k and I’m definitely saving to house hack! I can’t wait. It have been challenging but I’m focus and determined

[BBond]

I would love to meet someone with a $750 rent, no debt, $400 car payment and a town that’s emerging starting with a $300, 000 median 😂

[hmj]

I enjoyed this, however I would like to see a 'Getting started' video on a situation that is probably less common. I am going to be retiring from a career and receiving a lifetime annuity. I do not own any real estate and have zero debt. I will have access to about $500k cash from brokerage accounts, and a pre-tax 401k of around $700k. When I retire I will be in my mid to late 50's.
One straight forward way forward would be to throw all the money at dividend stocks/funds (withdraw the 401k slowly for tax purposes) and combined with my annuity (and eventually social security) just rent and live off those three income sources.
That doesn't grow and create generational wealth so I'm not a fan of that. I want some real estate but don't have a strategy of how to use the $500k and what to do with the pre-tax 401k. I'd like to think I am in a position where I don't have to take on risk, and I don't want C properties.