824: Bankruptcy to Financial Freedom by Following the “No B.S.” Real Estate Rules w/Jason Lewis

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 28 September 2023

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jason Lewis made it his life’s goal to hit financial freedom by thirty-five. After watching his family go bankrupt, lose their multi-generational farm, and have to give up their dreams, Jason knew that this was NOT what he wanted his future to look like. Instead, Jason would build a multi-million dollar real estate portfolio. One without high risk, high leverage, or a bank breathing down his neck when things went sideways. A portfolio that would make him MILLIONS in tax-free income, using techniques every average American can repeat. Jason quickly learned the right way to use debt. After securing a loan at the young age of seven, Jason started raising hogs. When he became the Grand Champion for hog raising at his local fair, he was given a check for a couple thousand dollars—MORE than enough for any seven-year-old. This lesson later helped Jason repeat the same strategy, but with real estate, always adding value and ALWAYS paying his debts. Jason’s “opportunistic” way of investing allows him to buy anything and everything that makes money. House hacking, fix and flips, mobile homes, and oil and gas leases are just SOME of the asset classes that Jason has invested in. One of these allowed him to make $1.9 million using a strategy that ANYONE listening to this episode can take advantage of. Want to hear how? Stick around! In This Episode We Cover: The danger of “overleveraging” and how it can ruin your chance at financial freedom House hacking and how to make tax-free millions simply by living in your home Syndication hype and why you should NEVER “fake it till you make it” in real estate Jason’s “No B.S.” advice to find real estate deals WHEREVER you are Partnerships and when it’s a wiser move to fly solo in your investing career And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Davids's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube House Hacking 101: What It Is and How to Get Started Is Leveraging Really That Risky? The 30-Something’s Guide to Financial Freedom Tune into the “Creative Real Estate Podcast” with Jason Connect with Jason: Jason's BiggerPockets Jason's Facebook Jason's Instagram Jason's LinkedIn Jason's TikTok Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-824 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 bigger pockets podcast show 824. I still own those first two house hacks
0:06.5	Because I didn't know about the two-year owner occupant tax benefit at that time
0:10.5	And I was learning the value add and I learned about the two-year owner
0:13.8	Rock where you live in a house the last two or five years and if you're single
0:17.2	You can take up to 250,000 tax-free. So after that I started just finding the best deal I could find and
0:24.6	Live in it for the two years and add as much values I could and I started buying rentals
0:29.9	Is a little over 1.9 million dollars of tax-free income that I've got through all of my house hacks
0:39.7	What's going on everyone? This is David Green your host of the bigger pockets rail state podcast and welcome to the sharpest real-state show in the West
0:47.4	Today, I'm joined by my co-host the Sundance kid himself
0:51.2	Rob Abbasolo, Rob how are you?
0:53.2	Howdy partner, how you doing? I'm doing all right now
0:56.2	Now if you're new to this show and you came here looking for real-state content
0:59.9	But found yourself in a Western don't worry you are in the right place
1:04.7	Every week we bring you stories how-tos and answers that you need to make smart real-state decisions now in the current market and this week
1:12.5	We're having a little bit of fun with it
1:14.5	We've got Jason Lewis the lone ranger of real estate
1:19.3	Rob what's the most valuable thing from this episode that investors can take away from oh man
1:23.6	We're going to talk about things the importance of networking the importance of building relationships
1:28.4	There are so many lead sources in our life that we are not tapping that are perfectly capable of landing deals across our desk
1:35.3	Every single day and these are people that we interact with every single day
1:38.3	We are going to talk about the power of garage sales. We get into some pretty good stuff here
1:43.1	Yes, we do and a lot of creativity as well
	...

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