742: How to Achieve Financial Freedom Through Real Estate in 4 Steps

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 21 March 2023

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

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Summary

Financial freedom is the goal we’re all after. Whether you want to replace your nine-to-five income, retire your spouse or family members, spend more time with your loved ones, or just have enough money to travel the world, reaching financial independence is truly the American dream. And the wisest, most stable way to find financial freedom? Real estate investing! For generations, rental property investing has been the foundation of many millionaires’ portfolios, and you can repeat their path with four simple steps. To give you the complete rundown on the four steps to financial freedom, we’ve got Dave Meyer, VP of Data and Analytics and host of On the Market, on the show. Dave embodies the financially-free life most people dream of. He lives abroad, chooses to work, and eats copious amounts of sandwiches every day. But what most people don’t see is the decade of hard work and dedication that Dave put in to get up to this point. Dave will explain exactly how to calculate the passive income you need to find financial freedom, where to start investing in real estate, how to analyze a real estate deal from scratch, and the one tool that EVERY investor can use to build a rental property portfolio faster. If you want to become a real estate pro in 2023, sign up for BiggerPockets Pro and use code “ANALYSIS20” for a special discount. In This Episode We Cover How to achieve financial freedom through real estate in 2023 Calculating your FI number and setting the RIGHT type of real estate goals Picking your real estate market and metrics you MUST use when researching Finding real estate deals and the LAPS funnel professional investors use to find perfect properties How to analyze a real estate deal in minutes using the BiggerPockets rental property calculator Cash flow vs. appreciation and which you should pick when deciding on your investment strategy And So Much More! Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-742 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 the BiggerBockets podcast show 742.
0:04.0	The four steps to financial freedom is about how you can still make positive,
0:08.7	concrete, positive steps towards achieving pretty much any type of financial goal.
0:13.6	Even in today's market conditions, the content covers really practical information
0:18.7	like how to pick a market to invest in, what's a good cash on cash return, what sort of ROI you
0:24.4	should be looking for. We even go through individual metrics so that you can go and research
0:28.9	specific markets yourself. We're going to talk about how to find leads to build your
0:32.8	deal pipeline. We'll obviously get into property analysis because that's sort of my thing.
0:37.5	What's going on everyone? This is Dave Meyer, your host for today's special, sort of different
0:42.7	episode of the BiggerPockets Real Estate podcast. We listened a couple of weeks ago. We released
0:47.9	a bonus episode where I went through a webinar I did recently about investing during a correction.
0:54.8	And it was really popular. We got really good feedback about it. So thank you all for listening
0:58.9	to it. And we're going to go through a webinar I put together just over the last couple days called
1:02.5	four steps to financial freedom through real estate. And what we're trying to do with these
1:06.7	types of episodes is give you more practical sort of step-by-step information about investing
1:13.4	in current economic conditions. I think this is going to be really practical for you if you are
1:18.0	interested in pursuing financial freedom, which I'm guessing you are because you are listening
1:22.2	to this podcast. Today's quick tip is I guess it's kind of a two-parter. The first one is if you've
1:28.1	ever thought about becoming a bigger pockets pro and want to do it today, we have a 20% off discount
1:34.0	code for you. Just use the code analysis 20. That makes a already great deal and even better deal
1:40.4	for pro. And it really gives you basically all of the tools that you need to start scaling your
1:44.9	real estate portfolio. But we even have an extra bonus, which is the second quick tip, which is that
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