Investing Websites / Resources
Local Real Estate Investing:
There are real estate investing events everywhere! You just need to know how to find them. One of my favorite sites is meetup.com, which lets you search for local events by topic.
Another way to find real estate investors is by searching “_____ real estate investing club”, putting your city in the blank.
In Utah, I go to the Utah Valley REI Club (UVREIA) and the Utah REIA Club (UREIA).
If you live in Utah and you would like to go to some local events with me and other investors, you can subscribe to my weekly email newsletter and get notified about our local events.
Real Estate Investing Online:
BiggerPockets is the best way to get started with real estate investing online. It was launched in 2004 by Joshua Dorkin who saw a lack of good real estate content and support online. It has grown to be the most respected online real estate networking and information resource platform.
I have met several great realtors and like-minded investors in their twenties just by being active on the forums. It is free to become a member and connect with others. Joshua and Brandon release a new podcast every week in which they address issues common to young investors and interview professional real estate investors.
If you want to get into real estate investing, but don’t know where to start, Bigger Pockets is the place.
If there is one thing I have learned from the most successful investors, it is that “set it and forget it” is the best philosophy when it comes to retirement savings. If you are interested in passive long-term investing (which you should be), Betterment is a no-brainer. They keep their fees extremely low by using ETFs (exchange-traded funds) and manage a diversified plan for you, according to your needs and goals. I have set up an automatic monthly deposit with Betterment and am extremely pleased with how well it works, not to mention how user-friendly the website is.
Passive Income Online:
Pat Flynn has been earning passive income online and writing about it since 2008. His blog is the perfect place to start if you are interested in making money online. His podcasts, ebooks, and helpful newsletters have helped me understand what I need to do next to grow an online business.
Before you start investing, you need to make sure: 1) you are out of debt, 2) you have emergency savings, and 3) you know how much you can spend. These budgeting tools help you do that.
Mint makes budgeting dead simple. After linking your bank accounts (if you don’t feel comfortable with this see YNAB below) it only takes a few clicks to calculate your net worth, view your expenses by category, set goals, and set limits for yourself. This tool alone has cut my expenses and increased my awareness of how I spend money, allowing me to invest more.
If you don’t feel good giving Mint all of your banking information, YNAB is the best alternative. It teaches you to rely on last month’s income for this month’s expenses–a very healthy habit. YNAB isn’t quite as behaviorally efficient as Mint because it requires a little more effort from you, but it teaches you more than Mint can because of it. When you update your budget manually, you get a very good idea of what you need to change to meet your goals. This software costs $60 and can be downloaded to your Mac or PC forever.