When Mike Newton decided he wanted to invest in real estate, he had about $1,000 to his name.He also got pre-qualified for a mortgage to understand his budget and found a great realtor.He grew up"unbelievably poor," he told Insider. His mom raised him and his six siblings on her own in Grand Forks, North Dakota. They relied on food stamps and subsidized housing to get by.
Years before Newton even started looking at properties, he was watching real estate-related YouTube videos. Investing in real estate requires upfront cash for a down payment and closing costs. Newton didn't have anything in savings, so his next immediate step was to save aggressively. For about six months, he picked up every overtime shift that he could, he said:"I was working 90 hours a week and saving every penny until I had the money I needed."
"Examine your spending closely," he advised."Maybe you eat out too much or your car payment is too expensive. Most likely, there are places you can cut back." If not,
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