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BiggerPockets Money Podcast

410: From Homeless at 14 to Debt-Free Homeowner AFTER Prison Time

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.62.9K Ratings

🗓️ 12 May 2023

⏱️ 56 minutes

🧾️ Download transcript

Summary

A debt-free homeowner with an emergency fund and a keen eye for personal finance? A few years ago, Jazmyn Gray wouldn’t have dreamed that’s how her life turned out. From a young age, Jazmyn was thrown into drug addiction, homelessness, a life of crime, and later, prison time. She was a teenage mother whose silver lining was running a successful business until she was robbed, abused, and pushed into relapsing. But that’s not Jazmyn’s whole story. Through some entrepreneurial pursuits behind bars and putting her finances first, Jazmyn has had an almost unbelievable path to recovery. Even after her time in prison, Jazmyn was forced to pay restitution and other debts she had piled up before her incarceration. However, through a chance meeting with none other than our own Scott Trench, Jazmyn was given the master plan she needed to rebuild her financial position, even when the odds were stacked against her. Now, in a completely different position than she was in just a few years ago, Jazmyn is ready to tell her whole story, not only to provide hope to those that need it but give actionable steps to improving your financial life. You’ll hear how she built a six-figure business within a few months, how she recently bought a house with a record low interest rate, the debt snowball method she used to become debt-free faster than most Americans, and how she’s using her rough road to help others build their own wealth. In This Episode We Cover Hitting financial rock bottom and starting your journey when you have nothing Building a six-figure business and what caused Jazmyn to give up hers Homelessness, drug addiction, and fighting to survive as a teenager The “debt snowball” method Jazmyn used to pay off her debt in record time Buying your first home and how to do so only a few years after being dead broke Jazmyn’s easily-repeatable advice for ANYONE starting their financial journey And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! The Real Estate Rookie Podcast Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes 12 Things to Give Up to Become Debt-Free This Year Get Involved with CrossPurpose Click here to check the full show notes: https://www.biggerpockets.com/blog/money-410 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

Click on a timestamp to play from that location

0:00.0

Just a friendly heads up that today's episode, while ultimately a success story, discusses

0:04.9

drugs, alcohol, addiction, and recovery.

0:08.1

Welcome to the Bigger Pockets Money Podcast, where we interview Jasmine Gray and talk about

0:12.6

her journey through a tough financial upbringing to becoming debt-free and working on building

0:17.6

well.

0:18.6

Hello, hello, hello, my name is Mindy Jensen and with me as always is my financial coach

0:22.1

co-host, Scott Tret.

0:23.8

Great to be here with my general manager of finance, Mindy Jensen.

0:28.1

Scott and I are here to make financial independence less scary, less just for somebody else, to introduce

0:33.4

you to every money story because we truly believe financial freedom is attainable for everyone,

0:38.2

no matter when or where you're starting.

0:40.2

That's right, whether you own a retire early and travel the world, going to make big-time

0:43.5

investments in assets like real estate, start your own business, or recover from severe

0:48.3

financial setbacks, including restitution and personal debt.

0:52.1

We'll help you reach your financial goals and get money out of the way so you can launch

0:55.0

yourself towards those dreams.

0:56.9

Scott, I am so excited to talk to Jasmine today.

1:00.6

She has a story that we really haven't heard before and it is a story ultimately of triumph

1:08.1

and when you set your mind to something you truly can't accomplish anything.

1:13.0

Absolutely.

1:14.0

I've had the privilege of knowing Jasmine for the last couple of years and watching this

1:18.6

journey that we're going to hear today unfold and it's been remarkable to see her progress.

...

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