Most people assume that buying rental properties is only for those making six-figure salaries. How can the average American afford the sizeable down payment and high interest rates of today’s housing market? Let us introduce you to Tiffany, a twenty-three-year-old from Colorado who’s using her $41,000 salary to build wealth at an early age. Tiffany is doing this all while bringing in just a few thousand dollars a month without a four-year degree. She’s ready to buy her second property this year but wants to speed up her timeline.

With a smaller salary, Tiffany has had to be smart with her expenses. She’s already house hacking, allowing her to wipe out a significant portion of her mortgage. She also has side hustles and keeps her costs low to save as much as she can every month. But, with years of experience in her social media management job, she could be leaving money on the table by not job hopping to greener pastures with bigger paychecks. This could make a HUGE difference on her bottom line every month.

Tiffany is also debating whether a college degree is worth it as she looks to bring home a business degree. With “YouTube University” and numerous free and low-cost education platforms online, Tiffany doesn’t know whether a college degree is what it once was and wants to be sure the investment she’s making will pay dividends, not just present her with a glorified piece of paper. So, if you’re starting your investing journey or want to invest on a lower income, this is the episode for you!

In This Episode We Cover

House hacking explained and how you can live mortgage-free by renting out extra rooms

Raises, boosting your income, and when to leave your job for a higher-paying employer

The 203(k) loan and using it to “live in BRRRR” your way to a significant real estate portfolio

The ROI of college and whether or not a degree is even worth the effort in 2023

401(k) matching and how having an employer with benefits can be a BIG boost to your wealth

Starting your side hustle and turning your skills into income by sacrificing a few hours a week

And So Much More!

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Money Moment

House Hacking 101: What It Is and How to Get Started

Is College Worth the Cost? This 30,000 Variable Study Says “Sometimes…”:

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-387

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