Living paycheck to paycheck isn’t sustainable. But, if you’re in this position, you already know that. The stress of always worrying about bills, scrounging for money, and never really feeling security can eat away at you. This is how Anthony Michael felt, but surprisingly, he wasn’t making a small amount of money. He and his wife were making six figures, but only saving around $200/month. This was far less than Anthony was comfortable with, so he sat down, crunched the numbers, and started taking drastic actions.

After he was able to increase his savings rate tenfold, he knew the extra money he was bringing in needed to be deployed. He started listening to The BiggerPockets Real Estate Podcast, read Rich Dad Poor Dad, and saw that house flipping could be his way to real estate riches. He found a partner, picked an area to invest in, and since then has made flipping homes his top money-marker.

Anthony’s story didn’t always go to plan. He had house flipping budget busters that forced him to use much of his emergency savings, a “partner” who ran off with thousands of dollars, and other fumbles along the way. But, all these mistakes lead to Anthony being in the position he is in today, and maybe you can avoid some of his pricey mistakes simply by hearing his story.

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Join the BiggerPockets Money Facebook Group:
  / bpmoney  
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Listen to Anthony’s “Real Estate Rookie” Podcast Interview:
https://www.biggerpockets.com/blog/ro...
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Grab Your Copy of “Rich Dad Poor Dad”:
https://www.biggerpockets.com/richdad...
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Stop Living Paycheck to Paycheck—Here’s How:
https://www.biggerpockets.com/blog/st...
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How to Cut Expenses for a Faster Route to Financial Freedom:
https://www.biggerpockets.com/blog/bi...
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How to Structure Partnerships as a New Investor:
https://www.biggerpockets.com/blog/re...
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Connect with Anthony on BiggerPockets and Instagram:
BiggerPockets: https://www.biggerpockets.com/users/a...
Instagram: @tonymichaelrei or   / tonymichaelrei  
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Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?u...
Finance Friday: https://www.biggerpockets.com/finance...
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Connect with David and Mindy on BiggerPockets:
David: https://www.biggerpockets.com/users/u...
Mindy: https://www.biggerpockets.com/users/m...

Episode 321

Show notes at: https://www.biggerpockets.com/blog/mo...

00:00 Intro
02:47 Fixing His Financial Picture
12:36 Home Flipping While Active Duty
25:46 Partnering on 19 Projects
32:10 The Correct Way to Use Credit Cards
38:01 Cash-Flowing Airbnb Investments
45:29 Keeping Expenses Low as Income Rises
57:44 Taking on Debt the Right Way
01:01:26 Famous Four
01:11:35 Wrapping Up a Realistic Real Estate

#biggerpockets #biggerpocketsmoneypodcast #ep321