Financial Planning & Budgeting for Buying an Investment Property

In this video, I will guide you through the Process of Planning, Budgeting, and Saving to Acquire your dream Real Estate Investment Property!

We all know it can be difficult to save enough money to buy an investment property but if you stay disciplined and consistent you can reach your financial goals. As Franklin D. Roosevelt said, "Real Estate is about the safest Investment in the World." So, why wouldn't you want to Invest in Real Estate?

Buying an investment property may be daunting or seem like it requires a ton of money, but if you create a solid financial plan and budget effectively, you'll be investing in real estate quickly.

The first step you'll want to take when budgeting for a real estate investment is: Assessing Your Current Financial State.

1. Determine & Calculate Your Monthly Income.

2. List All Your Monthly Expenses such as Rent, Mortgage, Utilities, Groceries, Entertainment, etc.

3. Determine Your Savings Capacity

4. Look for Areas or Ways to Cut Unnecessary Expenses

5. Set a Specific Savings Dollar Amount Target & Date

6. Open a Savings Account for your Property Investment Fund

By following these steps, you're not just saving money, you're strategically planning to acquire your real estate investment property!

Here are a few Helpful Real Estate Investing Articles and Resources below:

Link to "How To Budget for an Investment Property - Mashvisor":
https://www.mashvisor.com/blog/investment-budgeting-cash-flow/

Link to "What is the 50/30/20 Budget Rule? - BiggerPockets":
https://www.biggerpockets.com/blog/50-30-20-rule

Link to "BiggerPockets Real Estate Investing":
Youtube Channel: https://www.youtube.com/@biggerpockets/featured
Website: https://www.biggerpockets.com/

Subscribe to my channel Jobin where we together learn to Invest, Manage, and Profit from Real Estate Investing. Cheers!

Link to "Jobin - Invest, Manage, Profit"
Youtube Channel: https://www.youtube.com/@UC7ad0IN07MGYShydmaPyZqQ

Timestamps:
0:00 - Planning & Budget Intro
0:30 - Establish Investment Goals
0:52 - Assess Current Financials
1:27 - Realistic Savings Plan
1:58 - Additional Income Streams
2:20 - Research Financing Options
3:05 - Evaluate Lenders
3:35 - Summary

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