BiggerPockets Money Podcast

In this episode, Mortgage Broker Seth Jones talks about the current mortgage market. We discuss mortgage forbearance - how it affects your credit and why it's NOT a good idea to go into forbearance if you can still make your mortgage payments. We also talk about mortgages - how to apply for a new loan or refinance, what lenders are looking for and how to get the best rate on your new loan. We'll also dive into comparison shopping and how to choose the right lender.Lending is tightening up, while rates are dropping. We chat with Seth about what that looks like for a qualified borrower - and how to decide if now is the right time to get a new loan.We also discuss different types of funding, primary loans, second home loans and investment properties. We also clarify what mortgage fraud is - and how that can affect you. While it may seem like no big deal, it's actually a very big deal.Seth even shares a mortgage checklist below.If you need more information about the mortgage process, this episode is a must listen!In This Episode We Cover: The right time to take mortgage forbearance His thoughts on refinancing How a first time home buyer should approach their first mortgage Cash outlay Barriers to closing besides income disruptions Five categories of fees The difference between financing a primary home, secondary home, and an investment What mortgage fraud is And SO much more! Links from the Show Consumer Finance Protection Board Credit Karma Mortgage News Daily BiggerPockets Money Podcast 20: The Simple Path to Wealth—Index Funds Explained with JL Collins BiggerPockets Money Podcast 116: Long-Term Investing: Coronavirus Changes Nothing with JL Collins BiggerPockets Money Podcast 98: Change Your Money Mindset, Change Your Life with Vicki Robin BiggerPockets Money Facebook Page Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Kitces, financial planner and researcher behind Nerd's Eye View, breaks down the 4% rule and safe withdrawal research. He explains historical worst-case sequences, why market drops are rarely catastrophic, bond and cash-bucket strategies, the retirement red zone, and practical levers like guardrails, modest spending tweaks, and side hustles to strengthen long-term plans.

In this week’s episode, Scott & Mindy bring back four previous guests (and introduce a brand new–and future–guest) to talk about retirement, the stock market, and how this current environment is affecting their spending, saving and investing.Andy Hill last joined us for Episode 34 - and boy has his life changed! He left formal employment in January (and shares some surprising info about his income & investing prospects.Amy & Tim discuss their House Sitting & Travel Hacking plans, and how they are on hold during this unprecedented travel lockdown.Kristy & Bryce share how their Cash Cushion and Yield Shield strategy is working out (spoiler: just fine!) and how they are taking advantage of lower rates on AirBnB rentals to offset their now-postponed geographic arbitrage plans.The Mad Fientist is continuing to stay the course - but with a surprise revelation that he was a bit freaked out for a moment, too!And we introduce Doug Nordman from The Military Guide to our listeners, to hear his voice of reason and experience and offer encouragement during these crazy times.These five experienced retirees are here to reinforce the fact that Financial Independence IS worth pursuing, it DOES work, and the math IS accurate!Is it time to give up on Financial Independence? Nope, not even close! In This Episode We Cover: How Andy's life changed after his last interview in this podcast Andy's feeling about his decision on quitting his job and build his own business Andy's financial position before he leave his job One thing he wished he would have done differently before he left his job Amy and Tim's after retirement plan How they do their withdrawal on their stock portfolio to sustain their lifestyle What their plan right now Amy and Tim's advice for people who want to follow their footsteps How prepared Brandon was Brandon's opinion on the 4% rule  What does he recommend having cash buffer Brandon's definition of a cash buffer Brandon's advice for people who are in the journey to Financial Independence Bryce and Kristy's cash cushion Their travelling routine Their advice Continuing to invest their money on stock market The reason why Doug is not concerned about the recession How prepared Doug was  Doug's advice And SO much more! Links from the Show: How to Access Retirement Funds Early - Mad Fientist BiggerPockets Money Podcast 34 BiggerPockets Money Podcast 57 Determining Withdrawal Rates Using Historical Data BiggerPockets Money Podcast 55 BiggerPockets Money Podcast 55.5 Airbnb Fear And Despair In The Time Of Bear Markets - Military Guide Raising Your Money-Savvy Family For Next Generation Financial Independence Learn more about your ad choices. Visit megaphone.fm/adchoices

This Bonus Episode of the BiggerPockets Money Podcast is to help keep you informed of the Stimulus act that Congress is putting into place to help Americans with the Coronavirus and unprecedented shutdown of most of the economy.Joining Mindy today is Natalie Kolodij, who last appeared on Episode 112. Today’s episode was recorded on March 28, and we are fully expecting additional clarification and guidance from the federal government on these provisions. Congress just passed a 2.2 TRILLION dollar bill to provide relief for Americans in the face of the Coronavirus. While the bill does provide for monetary help, there’s a lot of other benefits that may not be getting the same press. OF COURSE we talk about the checks: How much, Who is eligible, When does it arrive? We also go a bit further and answer if it’s taxed, do you have to pay it back, is it a loan? If you have a 401(k), IRA or even a Roth IRA, there are additional provisions for you to consider like extended loan limits and penalty-free distributions.There are benefits for already retired people such as no RMDs this year if you haven’t already taken them.We discuss the student loan interest rate freeze and how to take advantage of their no payment option. We even touch on the additional provisions to employers such as IRC Section 139 changes that allow employers to help their employees out during this time of crisis, payroll deferment, sick leave, employee retention benefits and extended unemployment benefits. If we have our financial ducks in a row, now could be a great time to make some tax-advantaged moves.In This Episode We Cover: How to qualify stimulus check How much money people get on stimulus check Key thing to keep in mind with stimulus check Can people refuse the check Stimulus check for dependents Are green card holders and H1B VISA holders who work and pay taxes eligible for these benefits IRA versus 401k distribution Things to consider before converting funds from a traditional plan to a Roth plan Are there any provisions for already retired people How can an employer use the IRC Section 139, Disaster Relief Payments How does provision work on student loans Families First Coronavirus Response Act Employee Retention Credits Payroll tax payment deferral And SO much more! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Real Estate Podcast BiggerPockets Money Podcast 118 BiggerPockets Money Podcast 112 Learn more about your ad choices. Visit megaphone.fm/adchoices

Kyle Mast is a Certified Financial Planner, back for his third episode to answer YOUR questions about our current market conditions.We ask him the questions YOU had on your mind, including rebalancing your portfolio, staying the course, and trying to time the market.We take a deep dive into the retirement planning system, including weighing the benefits of Roth plans vs a traditional plans, and even discuss whether converting pre-tax retirement funds into post-tax funds during this down market is the right choice for you.While this episode focuses more on the state of the stock market, we do discuss real estate investing, and considerations for whether you should jump in or hold back.As always, consulting your own tax advisor and financial planner is advised, but Kyle brings up some very interesting ideas to take advantage of this down market. In This Episode We Cover: What people should do on their asset allocation with the situation right now The best way to protect your net worth in this economy Talking about Roth contributions Contribution limits on a Roth 401k A good plan to start investing in stocks for a short-mid term leaving the Real Estate aside for a while Kyle's thoughts on 4% rule Kyle's thoughts on withdrawing Roth IRA contribution for down payment on a rental property What is a good use for Stimulus Check How can someone find a good estate planner or estate planning attorney The importance of estate planning And SO much more! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 41 BiggerPockets Money Podcast 84 BiggerPockets Podcast 374 BiggerPockets Money Podcast 116 Mad Fientist Dow Jones - DJIA - 100 Year Historical Chart | MacroTrends BiggerPockets Money Podcast 49 Mindy's email Scott's email   Learn more about your ad choices. Visit megaphone.fm/adchoices

Today, Scott and Mindy discuss the biggest news story of the century: Coronavirus or COVID-19.This episode covers a wide range of topics both money and real estate -- with a guest spot from Brandon Turner, who answers the number one question on every real estate investor’s mind: What do I do if my tenant(s) can’t pay rent?You'll also learn what resources are available for people whose incomes have taken a hit, and get answers to questions such as: should I continue with the purchase of a property I have under contract, and should I continue to pay down debt or take advantage of this current market?These are scary times, and it can be easy to cut and run or throw out your carefully-laid plans in favor of an instinctive reaction. So now is a good time to detach, assess your options, and chart a course forward.If you have Coronavirus fears, you’re not alone. Scott, Mindy, and the entire BiggerPockets Money Community are here to help you weather this storm.In This Episode We Cover: How to invest from a position of strength How to tackle debt during this time How to do a "financial reset" What the 4 Percent Rule is in Financial Independence Brandon's tip when tenants don't pay rent What practical things can landlord do in these times How to take advantage of the current situation List of resources for those who are out of work BiggerPockets reminders that you should consider And SO much more! Links from the Show BiggerPockets Money Podcast 116 BiggerPockets Money Facebook Group BiggerPockets Investments Calculator BiggerPockets Podcast 374 BiggerPockets Podcast 364 BiggerPockets Real Estate Podcast BiggerPockets Money Podcast 70 BiggerPockets Money Podcast 55 BiggerPockets Money Podcast 55.5 BiggerPockets Money Podcast 114 BiggerPockets Money Podcast 85 Mr. Money Mustache How The 4% Rule Holds Up A Quarter-Century Later - Forbes Real Estate Rookie COVID-19 Financial Resources: Relief To Those Impacted - iHeartBudgets 197 Emergency Financial Assistance Resources (National & by Major City) - Frugal Confessions 50 immediate hire work from home jobs near me (2020) - Mrs Daaku Studio BiggerPockets Forums The BiggerPockets Book Store Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market is up, then down, then down, then up. What is an investor to do?Today we bring JLCollins from JLCollinsNH.com back to the show to calm our fears and help us understand what is happening with the stock market.The market is falling. Or maybe today it’s rising. It’s SO VOLATILE, it can be scary to stay invested - especially if you’ve never been through a market downturn.JL expertly explains what’s going on - and his recommendations for the best course of action - based on 40 years of investing in the stock market (and making a boatload of mistakes along the way.)Long story short, stay the course. 105 years of historical stock market data says this too shall pass.While JL is an expert on the stock market, he doesn’t invest in real estate, so Scott and Mindy share their views about the real estate market and what this current stock market volatility might mean for real estate investors. They also share ways to hedge your bets in rental property investing through fully funded reserves.If you’re freaking out about the stock market, this episode can help calm your fears and keep you on the right course to give you the most chance for financial success.In This Episode We Cover: Why are people freaking about the crash How one should handle this market drop if you risk losing your job When to prepare emergency funds and how much to put into it Why you should hold your portfolio forever What an Index Fund is Why it is important to "ignore" the market How index outperform stock picking How one can never time the market How those who say they predicted the market only did it because of luck The only time the market is not going to recover... And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Money Podcast 20: The Simple Path to Wealth—Index Funds Explained with JL Collins Mr. Money Mustache Taking advantage of Mr. Bear A Guided Meditation for When the Stock Market Is Dropping Stocks — Part XXXII: Why you should not be in the stock market Time Machine and the future returns for stocks Pinterest Dow Jones - DJIA - 100 Year Historical Chart | MacroTrends BiggerPockets Money Podcast 95: The House Hacking Strategy with Craig Curelop BiggerPockets Money Facebook Page Mindy's email Scott's email Learn more about your ad choices. Visit megaphone.fm/adchoices

Felipe Mejia’s relationship with money started at an early age - when his parents divorced and his world turned upside down. His mother introduced him to the power of real estate by fixing up the basement and renting it out to generate income.His mother further influenced his money story by creating her own cleaning company and introducing Felipe to a client who hired Felipe to clean up his job sites. Felipe put his own spin on that by hiring the work out for a slightly lower rate than he was getting.Real estate became Felipe’s main source of income, generating enough that he does not have to work a traditional job any longer.Felipe Mejia, along with Ashley Kehr from Episode 114 are the hosts of BiggerPockets newest Podcast, Real Estate Rookie.Together, they share stories of real estate successes - as well as encouragement to get started investing in real estate.The Real Estate Rookie show is for anyone interested in investing in real estate - and needs a little encouragement.The Real Estate Rookie Podcast airs on Wednesdays wherever you get your podcasts.In This Episode We Cover: Felipe's money story How important money is for Felipe What he did to his first rental property The importance of putting money into an investment How he earned money during his quest to join the police department On getting attracted to the power of earning passive income through real estate On house hacking Challenges he encountered in terms of his rental properties His advice on getting one’s spouse onboard How he approaches cash reserves And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Real Estate Podcast Airbnb Real Estate Rookie Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

Ashley Kehr married a dairy farmer. With a dairy farm comes farm equipment. And with farm equipment comes farm equipment loans—to the tune of around $169,000.Three years ago, she read Total Money Makeover by Dave Ramsey, and it CHANGED. HER. LIFE.Ashley knew she needed to get rid of their debt, but her husband wasn’t totally on board with the plan. So she tackled her student loan debt first—and proved to her husband that this was the right financial plan for their family.She quit the job she didn’t like and transitioned into property management, which introduced her to her current love of real estate.Real estate started providing a very generous income stream to help supplement her family’s income. When she didn’t have her own money to invest, she partnered with someone who did. When she didn’t have experience to do the project at hand, she partnered with someone who did.Ashley’s story is a delight to listen to. She walks us step by step through the process she took to find these partners, find these properties, and generate this income stream for her family.If you’re thinking about getting into real estate as a source of passive income, this is a must-listen episode!In This Episode We Cover: Ashley's money journey How Ashley and her husband accumulate both rental properties and debt The moment she purchased her first rental How her rental income helps her to be more conscious about money Ashley and her partner's agreement on their investments 2 rules to analyze markets for rentals What a portfolio loan is and how to use it Ashley's method of recycling her cash to buy more properties What her lifestyle looks like after reading Dave Ramsey's book Debt snowball method How Ashley managed her various properties with various partners And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Real Estate Podcast BiggerPockets Business Podcast BiggerPockets Calculators BiggerPockets Podcast 348: Full-Time Job, Full-Time Mom, and Full-Time Wealth From Rentals with Ashley Kehr BiggerPockets Money Podcast 20: The Simple Path to Wealth—Index Funds Explained with JL Collins BiggerPockets Money Facebook Group BiggerPockets Money Survey Learn more about your ad choices. Visit megaphone.fm/adchoices

This week we sit down with Bianca DiValerio, a flight attendant who makes an hourly wage, has no college degree, experienced THREE short sales during the economic downturn, and yet is STILL financially independent—all before turning 40.How did she do it?She saved her money. She didn’t spend it on things that didn’t matter to her.There is literally NO secret sauce to her story. In fact, she thought she had her future planned out! She had purchased three rental properties to provide a stream of passive income—only to lose them to short sale when unexpected special assessments of $5,000 each became too much for her to afford.And yet, she saved her money. She didn’t spend it on things that didn’t matter to her.And she dug herself out of the financial hole that the short sale pushed her into. She pulled herself back up and started her nest egg over, saving enough to pay cash for a unit in the same building, so she’d never lose her home again.She’s turned that into a rental, lives in a caboose five months out of the year (yes, a TRAIN CABOOSE), and while she has enough money to never HAVE to work again, she enjoys her job, can literally choose when she works, and is living her best life.Bianca is proof that you can recover from an unplanned financial catastrophe, thrive, and STILL reach financial independence—all before you turn 40. You just have to follow the proven path to financial freedom.In This Episode We Cover: Bianca's journey with money How she avoid on having debt The problem with not having a college degree What happened after she got her job as a flight attendant How she got into real estate Her thoughts on investment The importance of having cash reserves Her credit score after her three short sales The moment she came across the FIRE movement Her experience living in a train caboose Reasons to not quit your job And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Money Facebook Group BiggerPockets Money Survey Learn more about your ad choices. Visit megaphone.fm/adchoices