How Spandana Saved $50,000 To Purchase Her Investment Home

We connected with Spandana to learn more about her background, how she got started with real estate investing, and more! With her laser focus on savings, and diversifying her investments, Spandana was able to purchase an investment home through Doorvest. Spandana is an inspiration to us all and hopes to inspire more women to invest in real estate! Check out the interview below:

How much did you save for the down payment?

I saved about $50,000-$60,000 for the down payment of my home which was at a purchase price of $235,000.

How did you save for the down payment?

I set aside my bonus as well as actively set a goal to aggressively contribute about $2,000 dollars from my paycheck towards the down payment. I also sold part of my shares from my workplace to diversify my risk and to invest in an alternative asset which was real estate.

How long did you save for the down payment?

It took me about 3 months to save for the down payment

Do you have any advice or tips on ways you saved?

I cut down my expenditure by unsubscribing to services I was not using. I also moved home during the pandemic and started working remotely which helped me cut down costs like commute and rent. I also had a lot of equity from my workplace out of which I liquidated a small part towards my rental property. I made sure that I was liquidating long-term assets to incur fewer taxes and invest that towards diversifying my portfolio by acquiring the rental property from Doorvest.

What other investments have you made over the last 5 years?

I’ve made investments in stocks, ETFs, and cryptocurrencies like Bitcoin, Ethereum, and alternative coins.

Anything else you would like to share?

Investing in real estate is very tricky and especially in a market that you are not aware of. Doorvest helped me gain enough confidence as a first-time home buyer and real estate investor that I was able to acquire an investment home in Houston. I got so deep into real estate in this process that now I am actively pursuing my own real estate license.