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☆ 'Super savers' are spending little to no money on housing to free up extra cash. Here are 3 strategies they use to lower their rent or mortgage payments.
▼ + stars: | 2024-02-29 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Heilbron, along with other "super savers" — individuals who save more than half of their incomes — have found creative ways to lower (or eliminate) the biggest expense Americans face: housing. US Bureau of Labor StatisticsHere's how the experts save on rent or mortgage payments, listed in order of simplicity. Courtesy of Karina MejiaIf you can live with family, that's another way to save on housing. But, especially if you're based out of a major city, the further you go away from the city center, the more affordable space you're going to find. While it is perhaps the most effective way to lower housing costs, it is also the most complex in that it requires owning a home.

Persons: you'll, Avery Heilbron, Steven Keys, Lauren, Karina Mejia, Ali, Josh Lupo, Todd Baldwin Organizations: Business, Consumer, Bureau of Labor Statistics, of Labor Statistics Here's Locations: Boston, Augusta, San Francisco, Orlando, New York, Seattle

☆ 'Super savers' are using a simple 2-pronged approach to save more than half their paycheck and achieve financial independence
▼ + stars: | 2024-02-18 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

Business Insider has spoken to dozens of “super savers” who are setting aside more than half of their paychecks — and they make it sound relatively easy. The couple says they save 100% of their 9-to-5 income , thanks to a low cost of living and various revenue streams. That’s what early retirees Lauren and Steven Keys experienced . Lauren and Steven Keys quit full-time work in their 20s. Their side hustle income more than sustains their lifestyle, meaning they can save 100% of their day job income.

Persons: It’s, doesn't, Josh Lupo, Ali, Josh, Lauren, Steven Keys, Steven, ”, Avery Heilbron, you'll Organizations: Business Locations: San Francisco, hustles

☆ 5 successful real-estate investors who started with as little as $5,000 in savings explain how they leveraged FHA loans to buy their first properties
▼ + stars: | 2023-10-21 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Before writing off real estate as too expensive to invest in, you'll want to consider all of your options. Here's how it works and how you can use one to buy real estate and start building long-term wealth. How everyday people have leveraged FHA loans to buy property and build wealthBoston-based investor Karina Mejia used an FHA loan to buy her first property at age 22 . It's a joke but it is solid advice: Before you actually get married, you should each use your own FHA loan." You can get your foot in the door without too much upfront cash by using an FHA loan."

Persons: Ludomir Wanot, witxh, Wanot, Karina Mejia, Sasha, It's, Mejia, Avery Heilbron, Heilbron, Jervais, Jim Resonable, That's Organizations: Federal Housing Association, Evergreen Housing, Ludomir, Seattle, Department of Veterans Affairs Locations: Seattle, Boston, Georgia, North Carolina, North Carolina , California

☆ 5 real-estate investors who 'house hacked' to afford their first properties explain how the strategy works and can help anyone build wealth
▼ + stars: | 2023-08-14 | by ( Business Insider | ) www.businessinsider.com time to read: +7 min

If you're looking to get into real estate, house hacking is a strategy worth considering. Insider spoke to investors who used house hacking to get their start and build equity quicker. One strategy that first-time homebuyers looking to break into the market could consider is called "house hacking." Here are five individuals who used house hacking to get their start and build equity quicker while lowering their overall risk. He was bringing in $3,600 per month in rental income, which more than covered his $3,300 mortgage payment.

Persons: it's, Peter Keane, Rivera, Rivera Peter Keane, Keane, Todd Baldwin, Todd Baldwin Seattle, Avery Heilbron, Heilbron, Ali, Josh Lupo, Josh Lupo Ali, they'd, Josh Organizations: Service Locations: Wall, Silicon, America, Seattle, Boston, New York

☆ Airbnb hosts who are booking up their spaces during the era of 'Airbnbust' share 3 strategies they're using to make money on the platform
▼ + stars: | 2023-03-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Many Airbnb hosts are currently facing empty booking calendars and stiff competition. Vacation rental bookings started slowing down in 2022 and we've since entered an era coined 'Airbnbust.' "You can make more monthly money because people will pay more for a vacation rental than a long-term rental," he told Insider. Heilbron owns a second Airbnb property in Pinehurst, North Carolina, where golf events are frequently hosted. Courtesy of Avery HeilbronAnother major perk of owning a short-term vacation rental in Pinehurst is that the village hosts a lot of golf tournaments, including the U.S.

☆ A 28-year-old financially independent real estate investor explains the 'most inexpensive way to buy real estate' and how to score low down payments
▼ + stars: | 2023-03-26 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Durham-based real estate investor Avery Heilbron owns 5 properties on his own and co-owns one. He afforded his first place by house hacking and says it's "the most inexpensive way to buy real estate." What allowed him to go from an average earner in America to above-average was real estate investing. Kai Anderson's book "Retire on Real Estate" was what originally nudged him in the direction of owning property, he said. "There are a lot of ways to get into real estate without actually using a lot of money," Heilbron emphasized.

☆ After interviewing dozens of real estate investors, I've learned that it's more affordable to become one than you may think. The one strategy that many of them use to afford their first property is ca
▼ + stars: | 2023-03-24 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Buying real estate can be a daunting and expensive process, but it's not impossible. A handful of successful real estate investors afforded their first property by "house hacking." A couple with a combined $100,000 in debt and social-worker salaries explained to me how buying real estate actually helped them pay down their debt. "It's the most inexpensive way to buy real estate," 28-year-old property owner Avery Heilbron, who afforded his first property by house hacking, told Insider. The aforementioned couple who got into real estate investing despite six-figures worth of debt also did so by house hacking.

☆ A key indicator says a recession is guaranteed in 2023 — and Bill Ackman, Nouriel Roubini, and others are warning of trouble ahead
▼ + stars: | 2023-03-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

From the central bank's latest rate hike to new developments in the ongoing bank crisis, a lot has happened in my absence. And all the while, Jerome Powell's favorite bond-market indicator is quietly telling us that a recession is all but guaranteed this year. Talk of basis points, yield spreads, and other market jargon is obscuring the key message here: Markets think a recession is guaranteed in 2023. How much credence as a recession signal do you give the bond market indicator? He said the current bank crisis isn't a redux of that era, or even of 2008.

☆ A 28-year-old who says he puts away 100% of his salary and lives off of side-hustle income breaks down how he saves — and why he keeps most of his savings accessible in a high-yield account
▼ + stars: | 2023-03-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

He puts most of his savings in a high-yield account so it's highly accessible. "I'm 100% financially free for what my current lifestyle is from all the rental income that I get," the 28-year-old real estate investor told Insider. Recently, he started dipping his toe into the short-term vacation rental market. Since he's actively looking to buy more real estate, he likes to keep his savings highly accessible, which is why he chooses to put the majority of his money in a high-yield savings account. Some high-yield accounts are offering rates as high as 5.02% (UFB Preferred Savings), 4.45% (Bask Bank Interest Savings Account), and 4.35% (Primis Savings Account and MySavingsDirect Savings Account).

☆ 8 money books that can help you build wealth in 2023, according to real estate investors, 'super savers,' and finance experts who have read them cover-to-cover
▼ + stars: | 2022-12-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Another popular choice among real estate investors specifically is "Rich Dad Poor Dad." It was Ramit Sethi's popular money book that taught them how to be more intentional when it came to spending. Real estate"Retire on Real Estate" by Kai AndersonAvery Heilbron, who achieved financial freedom before 30 partly thanks to his investment properties, says that "Retire on Real Estate" is what nudged him in the direction of buying property to build wealth. Courtesy of Avery HeilbronIf you want to build long-term wealth, "I think real estate is 100% the best thing," Heilbron said. "Rich Dad Poor Dad" by Robert KiyosakiThis classic by Robert Kiyosaki is a favorite among real estate investors and early retirees, including Mike Zuber, who was able to quit his day job in his 40s thanks to his lucrative real estate portfolio.

☆ How to achieve financial freedom, according to 11 couples and individuals under 40 who've done it
▼ + stars: | 2022-09-26 | by ( Business Insider | ) www.businessinsider.com time to read: +15 min

For many people, financial freedom means being able to retire early and work only by choice. He believes that real estate is the most tried-and-true way to build wealth, but he also invests in the stock market. If you want to achieve financial freedom and retire early, put in the hours, he advised. "As long as you can live within your means, and you understand your basic necessities, then it's very possible to create financial freedom." "Entrepreneurship has really accelerated our own path to financial freedom, which I would say we have achieved."

☆ 'Super savers' share 7 strategies they use to save more than half of their income
▼ + stars: | 2022-06-21 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

'Super savers' who save more than 50% of their income track their spending and set specific goals. They also focus on increasing their income so they have more money to save. Insider rounded up seven savings tactics from "super savers," or people who are setting aside more than 50% of their income, to help you keep more of what you make. Focus on cutting the other 2 major expenses: food and transportationSuper savers will often focus on cutting "the big three expenses": housing, food, and transportation. If you're trying to save money on transportation, use public transit to get around if it's available in your area.

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