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!

Show Notes at:
https://www.biggerpockets.com/blog/money-387?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
~~~~
Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney
~~~~
Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
~~~~
Got a Money Tip to Share? Send Us an Email:
moneymoment@biggerpockets.com
~~~~
Is College Worth the Cost? This 30,000 Variable Study Says “Sometimes…”:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-251-preston?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
House Hacking 101:
https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
The Ultimate Guide to Negotiating With Former FBI Hostage Negotiator Chris Voss:
https://www.biggerpockets.com/blog/biggerpockets-podcast-260-ultimate-guide-negotiating-with-fbi-hostage-negotiator-chris-voss?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Watch “Borrowed Future”:
https://www.ramseysolutions.com/shows/borrowed-future-documentary
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?utm_source=youtube&utm_medium=description&utm_campaign=none
Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Scott and Mindy on BiggerPockets:
Scott: https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none

Episode 387

00:00 Intro
01:32 Money Moment
02:21 Income, Expenses, Assets, and Debt
05:10 Boosting Your Income
12:24 The Next Property Purchase
23:07 Is a College Degree Worth the Price?
37:22 Killing it At 23!

#biggerpockets #biggerpocketsmoney