369: Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 19 February 2024

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Reaching financial freedom in ten years or less with a small real estate portfolio!? While it might seem like a lofty goal, it’s very doable when you maximize your cash flow and play the long game. If “the lazy investor” can do it, so can YOU! Welcome back to the Real Estate Rookie podcast! When Dion McNeeley reached early retirement in 2022, he was raking in $200,000 per year from just sixteen units. Now, he’s using his newfound financial independence, knowledge, and resources to take a few more risks with his real estate investments. For his latest deal, he used the buy, rehab, rent, refinance, repeat (BRRRR) method on a house hack that generates enough cash flow to fund his travels! It all sounds very impressive, but how on earth did he get there? In this episode, Dion shares some of the secrets and strategies that allowed him to go from $89,000 in debt to financially free within a decade. He talks about building a buy box that features a blend of market data and home attributes, as well as finding deals on the multiple listing service (MLS) that other buyers overlook. He even discusses an ingenious strategy that will have your tenants ASKING you to raise rents! In This Episode We Cover: How to reach financial freedom in ten years or less with real estate Finding deals on the multiple listing service (MLS) that other investors miss Why you should stick with ONE investing strategy for the long haul The MOST important metric to include in your buy box How to get tenants to ASK you to raise rents with the “binder strategy” Why house hacking is the easiest way to start real estate investing And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion McNeeley How to Use Public Data to Find Real Estate Deals That 99% of Investors Miss Try the "Binder Strategy" Yourself Grab Your Copy of “One Rental at a Time” Connect with Dion: Dion's BiggerPockets Profile Dion's Facebook Dion's Instagram Dion's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-369 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is show number three six nine.
0:04.7	Today we are going to be talking to someone who is not just a rookie but has some great advice
0:11.2	for rookie listeners.
0:12.8	So father of three, 10 years to financial freedom
0:17.3	and how it is possible for you.
0:19.7	We're also gonna get an update to the binder strategy. So maybe you guys have heard this guest before on the bigger
0:26.1	pockets show, a real estate show and we are going to get some updates as to how it is achievable
0:32.4	for you to do this to get the best
0:34.8	rents that the tenant picks.
0:37.5	I'm Ashley and he is Tony.
0:40.0	And welcome to the Real Estate Rookie Podcast where every week, not once, not twice, but three times a week,
0:46.4	we're bringing you the inspiration, motivations, and stories you need to hear to kick start your
0:50.4	investing journey. Now in today's episode, we're going to talk to a landlord who says it's been five years been inside some of his rental properties.
0:57.0	We're going to figure out how to get your tenants to ask you for rent increases and most importantly we're going to talk about why rookies and how rookies
1:05.1	should evaluate a market as a whole and a heck of a lot more. So today we've got Dion who is a boot camp,
1:12.1	TA extraordinary. He's helped Ashley a lot camp, TA extraordinary.
1:13.2	He's actually a lot of her boot camps.
1:15.2	He is a go-to name in the Real Estate
1:17.2	Ricky Facebook group and so much more.
1:19.6	Dion, we're excited to have you on, brother,
1:21.6	but we've heard that you took on a new strategy so let's get into that first
1:25.8	Howdy I'm I'm so excited to be here
	...

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