Saving for a house while renting was a tiring experience. I learned how to save for a down payment on a house fast with 3 solid strategies. In this video, I will breakdown the 2nd strategy that anyone can do - even if you are saving for a house on a low income. And that's what REITs (real estate investment trusts) helped me do. 

Referral code: https://fundrise.com/invitation-program/welcome?inviteKey=n3yooe&utm_medium=invite-link&utm_source=fundrise&utm_campaign=investor-invitation

None of us want to continue trading our time for money. I hope that every first time home buyer can watch this and learn how to save up for a house fast so that 2023 is the year you make your dreams come true.

I want you to be better than me. I worked two jobs, did consulting on the side, and was just beat. I was paying off my debt and saving at the same time and the two did not complement each other. Focus on one goal. I learned this after the fact. I was exhausted. I 100% do not recommend when there are so many other passive income opportunities that you can consider. I’ve found them and I’m giving you the game for free.

So if you’ve been wondering, “how can I save for a downpayment on a house fast”, then you are in the right place!

This is part 2 of a 3-part series. Like, comment, subscribe, and share to stay connected!

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What is Fundrise? 

Fundrise is the first investment platform to create a simple, low-cost way for anyone to access real estate's historically consistent, exceptional returns – and I am an active investor. I heard of this platform almost a decade ago when I was saving for my house, and paying off debt, but still desiring new, unconventional ways to invest in real estate. This has allowed me to do so without the hassle. 

As real estate investors, we are able to buy into private residential (i.e. homes) and commercial (i.e. office buildings) and Fundrise pools that money together in the form of REITs (real estate investment trusts). Just like company stocks, you have the option to receive quarterly dividends or equity (i.e. getting the cash later as the properties continue to appreciate).

How did Fundrise help you save for your down payment?

Fundrise is a platform that allows you to invest in real estate with as little as $10, even though I started with $500. In another video, I discuss the what and why behind my decision. But initially, I started investing with Fundrise to help me pay off my student loan debt. However, I started seeing quarterly pay-outs (also known as dividends) and I was like hey, wait a minute?! Those payouts went straight to my high-yield savings account which was (and still is) the account I used to save for my down payment.

Did you save for your down payment while investing?

Yes I did. Consider Fundrise as passive income. They are a unique version of REITs (real estate investment trusts) and REITs are required to pay out 90% of it's revenue to investors. I am an investor, and hopefully you will be too by the time you watch this video.

As previously mentioned, I attempted to do so much at once. I was working two jobs, paying off debt and trying to save for a down payment at the same time. That left me exhausted and it made me wish that I had found out about Fundrise and high-yield savings accounts a long time ago, because they are true passive income. I was trading my time for a long time when I could have been using my money more smartly to make more.

I’ll also share:

-How my Fundrise account performed during the pandemic

-How I was able to continue investing while purchasing my second home

-What my account looks like now

If you’re ready to open your account, use my referral code (https://fundrise.com/invitation-program/welcome?inviteKey=n3yooe&utm_medium=invite-link&utm_source=fundrise&utm_campaign=investor-invitation.) to get $50 credited to your new account. This means you are starting with $550, instead of $500. You’re welcome! 

This is part 2 of a 2 part series.

Like, comment, subscribe and share to stay connected!

Resources:

Video - Closing on my new construction home (part 1): https://youtu.be/X77z5bIS1ko

Video - Closing on my new construction home (part 2): https://youtu.be/sAtvnE2DUKU

Video - Closing on my new construction home (part 3): https://youtu.be/4HAY7FmcGGA

How to break down your monthly mortgage payment - PITI explained: https://youtu.be/PUpvUNCGj38 

Open a high-yield savings account and get an extra 1% in interest: https://www.marcus.com/us/en/savings/referral?referralcode=JOS-2LH-CT84

How I saved for my down payment with a high-yield savings account video: https://youtu.be/s9fKzC6sZXQ

What is an Earnest money deposit video: https://www.youtube.com/watch?v=xxYZL7I5wx0&t=0s

[VIDEO] My debt free journey: https://youtu.be/C0Tyt3n7PCY

The #1 Workbook for first-time homebuyers: https://www.mazimizedmoney.com/ready-to-own

Biggest mistake I made in my homebuying journey: https://youtu.be/Yn-LsYujGtA

First time homebuyer loans: https://www.maximizedmoney.com/first-time-homebuyer-loans

Instagram (we have lots of fun over here):

 https://www.instagram.com/maximizedmoney

Podcast: Real Estate Prep:

https://www.maximizedmoney.com/episodes (available on all streaming platforms)

Ready to find the right real estate agent for you? Download my free checklist for questions to ask:

https://www.maximizedmoney.com/homebuyers-checklist

Want to get your finances together for your big home purchase? Join my free Homebuyer Goals Challenge:

https://www.maximizedmoney.com/homebuyer-goals-challenge

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