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16: Financial Security Through Passive Income with Joel Larsgaard

BiggerPockets Money Podcast

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How to Save Money on Your First House

I paid $89,000 for this house. My monthly mortgage was in the 500s and I was able to rent out a room for $450 a month. So instead of paying rent and living with buddies, I had been living with a few dudes in town. And now my housing costs had gone way down after he purchased and had a roommate. The savings I put towards the purchase of another house and it was my goal kind of every two years to buy another house and rent out the prior home. That's one of the easiest ways to get into real estate investing.

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