115: Growing an Empire From Nothing with Felipe Mejia

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 9 March 2020

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast, show number 115, where we interview
0:05.3	Felipe Mejia from the brand new real estate rookie podcast and get his
0:10.0	story of financial independence through real estate investing.
0:13.0	All I'm saying is personally my time is more important than my money.
0:17.0	When I started chasing my time, my money came after me.
0:21.0	Think about if you got a cat at home, if you have food in your hand and you're chasing it,
0:24.7	for some reason it still won't come to you. When you sit down with food in your hand, the cat will come to you.
0:31.1	Hello, hello, my name is Mindy Jensen and with me as always is my out of this world co-host
0:36.2	Scott Trench.
0:37.2	Scott and I are here to make financial independence less scary, less just for somebody else, and show you that by following the proven steps, you can put
0:46.2	yourself on the road to early financial freedom and get money out of the way so you can leave your
0:50.9	best life.
0:51.9	Wherever you are in your financial or life journey,
0:54.0	you can begin rapidly moving towards the position capable of generating a great income,
0:58.0	saving a huge percentage of that income,
1:00.0	and setting yourself up to make larger and larger investments on your way to financial freedom. and your own business will help you build a financial position capable of launching
1:13.9	yourself towards your dreams. How's it going Mindy? If you are listening to this
1:20.4	show you need to go and watch the intro on YouTube because Scott has a unique
1:27.0	background and he is definitely out of this world.
1:31.8	That's right I'm speaking at today. Don't go on YouTube just to watch. out of this world. Today.
1:33.0	Don't go on YouTube just to watch that.
1:35.0	It's not really that worth all that extra.
	...

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