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BiggerPockets Money Podcast

399: Financially Free in 10 Years by Using Real Estate the Right Way

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.62.9K Ratings

🗓️ 7 April 2023

⏱️ 54 minutes

🧾️ Download transcript

Summary

Want to retire early in your 30s? Early retirement may be closer than you think. With smart money moves, intelligent investments, and the ability to save more than you spend, you could trade forty-hour work weeks for full days with your family. But, before you do, you’ll need to set yourself up with some killer cash flow, so your assets can pay for your lifestyle while you sit back and enjoy ultimate time freedom. This is exactly what Jenny Bayless did over the past ten years. After college, Jenny was able to score a well-paying job but realized only a few months in that the “work for forty years, retire at sixty-five” plan wasn’t worth the grind. So, shestarted aggressively saving, doing whatever she could to get into her first property. From there, she stumbled upon the BRRRR strategy of real estate investing, allowing her to recycle her cash to buy more properties in far less time than it took to save up for a down payment. In this episode, Jenny explains precisely how this method led her to financial freedom, what FIRE-chasers in 2023 can do to retire even earlier, and why EVERYONE should have a financial exit plan, no matter how much they love their work. Jenny’s repeatable system to financial freedom through real estate isn’t as complicated as you might think, and she gives three crucial tips that, when followed, will lead to FIRE even faster! In This Episode We Cover How to retire in ten years (or less!) by using the BRRRR investing method Leaving your W2 and how to know it’s the right time to walk away from a paycheck Three tips ANYONE can follow to hit financial freedom faster “Failing forward” and why those that make mistakes are the ones who get ahead Cash-out refinances and how to recycle your down payment funds to buy more property Life after FIRE and why you’re still allowed to make money even when retired early And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Connect with James Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Meet Scott and James at BPCon2023 Grab The Book on “Investing in Real Estate with No (and Low) Money Down” Click here to check the full show notes: https://www.biggerpockets.com/blog/money-399 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! 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 where we interview Jenny Bayless and talk about her financial journey.

0:05.8

Hello, hello, hello. My name is Scott Trench and with me today is my guest co-host from our sister podcast on the market, James Dainard.

0:13.4

How you doing, Scott?

0:14.6

I'm doing great, great, great, thank you for joining us today.

0:17.2

I'm excited to be on.

0:18.7

Absolutely. James and I are here to make financial independence less scary, less just for somebody else.

0:23.7

To introduce you to every money story because we truly believe that financial freedom is attainable for everyone.

0:29.3

You're not aware or when you're starting.

0:31.8

And whether you want to retire early or travel the world, go on make big investments and ask this like real estate or start your own business.

0:39.2

We'll help you reach those financial goals and get money out of the way so you can launch yourself towards your dreams.

0:44.8

James, I'm so excited to be here with you today and I understand that you have a very special guest joining you for today's show.

0:50.9

Yeah, randomly. So at BPCon last year, BP did an auction where a lot of donations went out.

0:57.6

And someone bid and they bought me.

1:00.4

They've actually bought me for an eight hour Zoom call and we ended up shipping them out here for two days instead.

1:06.0

So this is Justin. He's from Austin, Texas.

1:08.3

Bought us at the BPCon.

1:10.0

Now he's here hanging out with me for two days.

1:11.8

You got over. He actually we over delivered.

1:14.3

He got way more.

1:15.3

That's been amazing. So BPCon amazing opportunity and it's been a great time hanging out with James and getting to understand his operation.

1:23.3

So highly suggest going and hanging out there.

1:26.0

Are you going to bid on Scott next?

...

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