real estate advertising network - WorldWide
Real estate advertising network - WorldWide
    RealtyWW facebook page   RealtyWW twitter page   RealtyWW linkedin page   RealtyWW google+ page  RealtyWW youtube page  RealtyWW RSS   Advertise property/service

  • Login • Register for a free account

    Forgot password?


Menu
  • Home
  • About
    • Partners
    • Download
  • Classifieds
    • Apartments
      • Flats
      • Studios
      • Condos
    • Houses, Villas, Cottages, Townhouses
      • Houses
      • Villas
      • Cottages
      • Townhouses
      • Bungalows
      • Homes
      • Foreclosed Homes
    • Land lots
      • Settlements
      • Agricultural
      • For industrial use
    • Rooms
      • Rooms
      • Units
    • Garages and parking places
      • Parking garages
      • Parking spaces
    • Commercial Real Estate
      • Hotels
      • Office spaces
      • Business Premises
      • Rooms of catering
      • Buildings of free appointment
      • Industrial premises
      • Warehouse spaces
    • Ecological Housing
      • Ecological Housing
      • Log Homes
    • All Others Real Estate
      • All Others Real Estate
      • Extraterrestrial Real Estate
    • Business Directory
      • Financial Service Providers
      • Moving Companies
      • Home Improvement Contractors
      • Home Inspection Services
      • Construction Companies
      • Cleaning Contractors
      • Design Services
      • Pest Control
      • Landscaping Companies
      • Furniture Companies
      • Insurance Services
      • Photography Services
      • Real Estate Schools
      • Web Directories
    • Real Estate Agent Directory
      • Real Estate Agents
      • Real Estate Brokers
      • Real Estate Analytics
      • Property Managers
      • Appraisal Service
      • Property Surveyors
  • Blog
    • Write for us a post
    • Copywriting services
  • Pricing
  • Contact

Practical Tips on How to Save Money for Buying Real Estate

May 05, 2017 by Andrew Altman, Total views:
804
Buying Real Estate

License: Image author owned

Saving money to invest in real estate is a hard barrier to overcome. For many new investors, the biggest roadblock is not making enough money to start buying properties. Another barricade for new investors is making enough money but spending it all on bills or other expenses.

In the United States today, there is a problem with Americans and their spending power. Companies today use effective marketing strategies to gain a piece of the average American’s income, which all but eliminates spending power and the ability to invest in such things as real estate, stocks, bonds and mutual funds.

Advertisement


However, by following some practical investing and money-saving tips, you will find yourself with enough money to start buying real estate.

Invest in Mutual Funds

Investing in mutual funds is a safe and efficient alternative to buying individual stocks or earning interest from a checking or savings account. By investing in a moderate-risk mutual fund, you could average a 5-10 percent return instead of the 1 percent or less that most banks offer on their accounts.

Although stocks can produce excellent returns win you pick winners, it is not an easy proposition trying to find those winners. Finding individual stocks on your own that consistently average 5-10 percent annually is the equivalent of finding a needle in a haystack. Stick with moderate-risk mutual funds managed by professional portfolio managers.

Choose a Savings Rate

You should decide on a savings rate each month and stick to it, such as 10 or 20 percent of your disposable income. If you need to start small, it is wise to start saving 7-10 percent of your income each month.

Some personal finance experts suggest that you multiply the savings rate offered by your bank and multiply the number by your disposable income, or take home pay.

Create a Budget

Spreadsheets are an easy tool you can use to build a personal budget. Use the spreadsheet to track your gross income each month and subtract your taxes and other deductions from your total pay.

The figure gives you your net income, and you subtract your expenses from that figure, such as rent, utilities, food bill, car insurance and credit card bills. The money remaining after all your deductions is your disposable income. Determine how much of your disposable income goes toward entertainment, travel, leisure, gas and other items that cost you money.

In a very short time, you will see how much of your money goes out versus how much you take in, and the spreadsheet will give you a snapshot of where you need to adjust your spending habits and improve your spending power.

Another quick tip is to find out exactly how much you are paying in interest on your credit cards or other revolving accounts.

Check every single bill, and ask yourself if you can find lower interest rates by using balance transfers on consolidating your debts into one loan and one payment. Debt consolidation is a handy tool that can increase your monthly disposable income.

5 / 5 ( 1 vote )

Summary
Practical Tips on How to Save Money for Buying Real Estate
Article Name
Practical Tips on How to Save Money for Buying Real Estate
Description
However, by following some practical investing and money-saving tips, you will find yourself with enough money to start buying real estate.
Author
Andrew Altman
realtyWW Info
RealtyWW Info
http://realtyww.info/blog/wp-content/uploads/2016/09/favicon.png
RealtyWW Info
Andrew Altman May 5, 2017
This entry was posted in Real Estate Investing and tagged Buying Properties, buying real estate, invest in real estate, real estate investing, Real Estate Investment, saving money. Bookmark the permalink.

Post navigation

← Previous
Next →
  • Related Posts
  • Comments


Related Posts

  • 10 Simple Real Estate Investment Steps That Will Help You ProfitNovember 1, 2016 10 Simple Real Estate Investment Steps That Will Help You Profit Real Estate investment is not just about buying a home to live with family. It is an investment and therefore, it should be profitable, or else it will not qualify as an investment. Investing in real estate is far more convoluted than in stocks and bonds. There are a few ways to invest in property. You can invest money in a professional investor fund, where a fund manager will manage your investments. Then at the year end, you get a cut and the investment banker gets a cut of […] Posted in Real Estate Investing
  • Finding A Neighborhood Good For Your PetSeptember 27, 2016 Finding A Neighborhood Good For Your Pet So you have a couple of furry friends and you are a little concerned about their comfort when finding a new house. That’s natural as dogs and cats can’t adapt to all environments as comfortably as humans. Humans can always turn things in their surroundings to make it more comfortable, which animals can’t. All in all, a challenging environment does not make for a very comfortable canine habitat. So as a responsible pet owner, you must look for a pet-friendly locality, when finding a […] Posted in Real Estate Investing
  • Best Cities for Music Lovers to Buy Home in USASeptember 8, 2016 Best Cities for Music Lovers to Buy Home in USA Music is combined with the US culture and you cannot find a city in US that is not influenced by music. Blues, jazz, hip-hop, rock & roll are uniquely American musical genres. Music is knotted with the history of the United States and most of the cities across the country are full of musical landmarks. A massive part of buying a home is enjoying the entertaining things your city has to offer. As far as people are concerned, music is an important entertainment thing in their […] Posted in Real Estate Investing
  • What Avenues are Available for Emerging Investors in the Real Estate Industry?March 8, 2017 What Avenues are Available for Emerging Investors in the Real Estate Industry? Between 2014 and 2015, the real estate market has been fluctuating quite a lot. The stock market is slowly but steady stabilizing, and the main reason for that has to do with what has been happening with the economy and the world of business. The bad news is investors are confused by what’s going on. They’re still unsure whether this is a good time to invest or not. Real estate investing is an industry that seems to be metamorphosing. Even though international investment […] Posted in Real Estate Investing
  • Neeraj KumawatApril 6, 2017 10 Worst Mistakes You Should Never Make In Real Estate Investment Whether or not investing in real estates is a profitable move depends on the market. When the market is ripe, real estate investments have been known to return huge profits to the investors. However still, there are some serious mistakes that the investors must always watch out for before putting their money in real estate. Investing in real estates can be a lucrative way for earning a regular income. A boom in the property market makes the likelihood of earning high end dividends […] Posted in Real Estate Investing
  • Four Wrong Reasons to Buy a CondoMay 22, 2017 Four Wrong Reasons to Buy a Condo Buying your first flat is probably one of the biggest and grandest milestones you will ever experience in your entire life. After years of saving and investing, you can finally purchase and acquire a place that you can call your very own. However, this is not to say that all of the reasons out there for buying a home are practical as well as appropriate. In fact, there is an old adage as regards home buying that goes, “That house you looked at today and wanted to think about […] Posted in Real Estate Investing
  • Investing in a Log HomeMay 3, 2016 Investing in a Log Home Submitted by: Jan Burmistroff Every investor is worried about the safety of his investment. He wants to ensure that no matter what happens to the economy his investments are safe. In this regard, he will want to make sure that he puts into place, several mechanisms to absorb any shock that the economy will generate. In these times of economic turmoil, when stocks are becoming unstable and companies are failing, it has become quite therefore choice to put money into real estate. At […] Posted in Real Estate Investing, Green Real Estate
  • Increase Your Real Estate Portfolio Using Digital Marketing StrategiesDecember 6, 2016 Increase Your Real Estate Portfolio Using Digital Marketing Strategies Real estate investing is probably the most popular form of investing. Its low barrier to entry (especially on the residential side) and potential profits, make it an attractive investment option for investors. Most local real estate markets are made up of a large amount of investors – both full-time and part-time investors. In times where the number of real estate investors seeking underpriced properties outnumber the number of real estate deals, it is imperative that investors find […] Posted in Real Estate Investing
  • Home Buying Fears & How to Face ThemApril 4, 2017 Home Buying Fears & How to Face Them Buying a property can be a lot of investment for some. We spend lots of money as well as time in searching the right property to buy.This can also become a cause of anxiety in some. But, one cannot escape from fear. One has to face the fear lurking inside to be able a strike a deal that proves lucrative in the long term. Here are a few fears that a buyer often faces and ways to tackle them. 1) House foundation: If you are purchasing a bungalow, then renovation and repair are […] Posted in Real Estate Investing

Search

Subscribe

Email


Categories

  • Green Real Estate
  • Home Improvement
  • Moving
  • Property law
  • Real Estate Advertising
  • Real Estate Building
  • Real Estate Business
  • Real Estate Finance
  • Real Estate Investing
  • Real Estate Jokes
  • Selling Real Estate
  • Uncategorized
  • Yard and Garden

Advertisement




This site uses cookies: Find out more.
Our network: US Real Estate Listings US Property | Indian Real Estate Listings Indian Property | UK Real Estate Listings UK Property

Real Estate Listings WprldWide Real Estate Listings WorldWide

Advertisement

This website is proudly using the open source classifieds software Osclass.

Follow @Osclass

RealtyWW, 2016


Contact

  
Sitemap

  
Privacy Policy

  
TOS




Cloudflare
Trovit