237: $700k Net Worth in 4 Years Thanks to “Super Assets”

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 4 October 2021

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

It didn’t take Addison Freeman long to realize what worked in school, wouldn’t work in real life. Those who got good grades and followed the standard playbook weren’t rewarded as plentifully on the investing front as they were in the classroom. When Addison realized it would take her over thirty years to hit millionaire status on the conventional track, she knew she needed a change. Addison started to look for, as she likes to call them, “super assets” or assets that grow while putting cash in your hand. She started with a house hack duplex where she was able to pay her mortgage by renting out one side. Then, she started to get into self-storage investing, which is now her husband’s main job. Along the way they tried (and failed) at starting businesses, but never took their foot off the gas on their journey to financial independence. At the age of 26, Addison and her husband are financially independent, sitting on a net worth of over $700,000 with an almost guaranteed chance at being part of the millionaire class very, very soon. In This Episode We Cover Why conventional investing won’t cut it when you’re trying to be a millionaire Buying as many “super assets” as you can while you’re young Starting a small business and the reason that it may (or may not) fail Why self-storage is an excellent industry for real estate investors to get into How commercial real estate is valued and the immense equity you can add to it Living below your means and investing hard for years And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pog its Money Podcast,
0:02.1	to number 237, where we interview Addison Freeman
0:05.8	and talk about the four levers of financial independence.
0:10.0	It's really not rocket science.
0:12.3	People get paralysis analysis and don't do anything.
0:16.2	If you just consistently accumulate cash flowing assets and hold them for the long term,
0:23.5	then you will be fine. You will have plenty of wealth and you will have plenty of options.
0:31.5	So that's what we've done. That's why I wanted to share this because it's very doable for anybody.
0:37.8	Hello, hello, hello. My name is Mindy Jensen and with me as always is my wide-angle lens cohost,
0:43.2	Scott Trent. That's a cute intro. Mindy, thank you so much.
0:47.4	Oh my goodness. Scott and I are here to make financial independence less scary,
0:52.0	less dust for somebody else to introduce you to every money story because we truly believe
0:56.9	that financial freedom is attainable for everyone, no matter when or where you're starting.
1:01.1	That's right. Whether you want to retire early and travel the world,
1:03.2	going to make big-time investments in assets like in super assets,
1:06.7	like real estate, self-storage, and other small businesses,
1:09.9	or start your own small business will help you build a position capable of getting money out of the
1:14.2	way and launching yourself towards those dreams.
1:16.2	Okay, Scott, you just said super assets and that is the subject of today's episode.
1:24.0	Our guest today invests in assets, but not just assets. They're super assets or assets that
1:31.1	produce income that covers her expenses and therefore allows her to be financially independent.
1:37.5	I love how she phrases this. I don't consider them assets. I consider them super assets.
	...

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