A rental property portfolio can replace your job, give you ultimate financial freedom, and allow you to do what you want when you want. But building this massive passive income stream takes time, and if you stick with it, you’ll be rewarded plentifully like today’s guests, Jennifer and John. After starting with an “average” income, this couple was able to consistently buy cash-flowing rentals with the leftovers from their salaries. They compounded their cash flow to buy even more properties and now sit on around $8,000,000 in real estate.
With so much wealth, you’d expect Jennifer and John to be the jet-skiing, vacation-home-buying, luxury car-racing types; but they’re FAR from it. John is still working at his W2 job as Jennifer continues to run her business. They both keep their spending low and live a moderate lifestyle. But, the lack of time freedom and heavy hours of a full-time job is eating away at John. This couple needs to know how they can use their real estate portfolio to retire early.
To go through all the rates, rentals, construction costs, and cash-flow-number-crunching is investing expert James Dainard, who joins Scott on a resourceful episode for any real estate investor. James and Scott will review Jennifer and John’s entire portfolio, giving them suggestions on what to sell, keep, and buy instead. By the end of this episode, John and Jennifer have multiple options that could make them MILLIONS in just a few years’ time!
In This Episode We Cover
The “rate trap” that stops so many rental property investors from upgrading their portfolios
Investing in real estate on an “average” income and why it’s possible for everyone
Tapping into equity and the one metric that’ll tell you whether you should keep or sell your property
Small multifamily vs. large multifamily and why bigger is usually better
ADUs (accessory dwelling units) and how to make instant equity by building one
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
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Scott's Instagram
Connect with James BiggerPockets
Watch James on the “On The Market” YouTube Channel
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
How To Build A Real Estate Portfolio
ROE over ROI and Why Your “Cash Flow” Number is Deceiving
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-427
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