Episode #1192 Baselane: Automate your real estate finances with banking and AI-powered bookkeeping. Claim your $100 bonus! https://www.baselane.com/lp/bigger-pockets/?utm_source=bigger_pockets&utm_campaign=bigger_pockets&utm_medium=YT-M Episode Show Notes: https://lnk.to/biggerpocketsYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media Let Us Know What You Thought of the Show! https://www.BiggerPockets.com/Podcastfeedback Grab _The Book on Investing in Real Estate with No (and Low) Money Down_: https://store.biggerpockets.com/products/investing-in-real-estate-with-no-and-low-money-down?utm_source=owned_media Sign Up for the BiggerPockets Real Estate Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders _BiggerPockets Real Estate_ 1105 - Buying ONE Rental Changed My Life: 4 Years Later, I Quit My Job w/Deandra McDonald: https://www.biggerpockets.com/blog/real-estate-1105?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Deandra: BiggerPockets: https://www.biggerpockets.com/users/deandram1?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: https://www.instagram.com/deandramcdonald/ YouTube: https://www.youtube.com/@deandra.mcdonald Connect with Dave: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none You’ve got little savings but want to buy a rental property. You see so many “no money down” investing strategies, but how do you know you won’t get burned trying them out? If you want to learn how to invest in real estate with no money, the right way, you need to take tips from those who have done it successfully without overleveraging themselves. Today, we’ve got two experts who bought rentals with very little savings and did it the legitimate way. Deandra McDonald went from $5,000 in credit card debt and a $28,000 salary to financial freedom with rentals in just a decade. Dave Meyer (your host!) was waiting tables when he bought his first rental. Both did it without sketchy loans, running up credit card debt, or getting in over their heads—and they started with barely any money. In this episode, we’ll walk through the steps you need to take and strategies you must try to buy real estate with no money. We’ll talk about how to fix your credit and become lendable, improve your income so you have cash reserves, down payment assistance programs that can get you into your first property for under $1,000, and the minimum amount you’ll need to invest safely. No money? No problem. This is the blueprint for buying rentals with little to no money! 00:00 Invest in Real Estate with No Money? 01:29 I Started on $28K/Year! 02:41 Credit Score Side Gigs 04:48 Down Payment Assistance Programs 07:54 Minimum Amount to Invest 08:18 How Much Cash Reserves Do You Need to Buy a Property? 12:41 Sponsor: Baselane! 13:36 Best Strategy to Start 15:22 Partner in Exchange for Sweat Equity 19:05 Fix Your Money Habits ASAP 19:11 Guest Clip 25:27 Don’t Go Too Big 28:01 What Deandra is Buying