Making $200K/Year With the Least Amount of Rentals Possible

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 19 February 2025

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don’t buy in good school districts. Always end your leases in winter. NEVER raise rents on a tenant. These are just some of the “Dionisms” that have made Dion McNeeley, the so-called “lazy investor,” rich with rental properties. He achieved financial freedom, retiring early with a $200,000/year passive income after slowly, steadily, and lazily investing for the past decade. Want to never swing a hammer? You don’t have to! Want tenants to stick around as long as possible? They will! Too scared to have the rent raise talk? Let Dion do it for you! In this episode, we’re breaking down the ten different “Dionisms” (unconventional landlord advice) that have literally made Dion millions and can do the same for you. Dion went from debt-riddled to multi-millionaire in just over a decade, starting his journey making just $17/hour, with three kids and very little time. If Dion can reach financial freedom with FEWER rentals, why can’t you? In This Episode We Cover: Dion’s small (but mighty) financial freedom-enabling real estate portfolio Dion’s “binder strategy” that has tenants raise rents FOR you Why Dion never has his leases expire in the summer (even though EVERYONE says to do this) Buying in average school districts? Dion says DON’T buy near good schools (and he’s right) The surprising reason why the “worst states to invest in” will make you the richest And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Ask Your Question on the BiggerPockets Forums BiggerPockets YouTube Apply to Be a Podcast Guest Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Retire with FEWER Rentals with “The Small and Mighty Real Estate Investor” Find an Investor-Friendly Agent in Your Area Investor Spotlight: From USMC to FIRE With Just 5 Properties Featuring Dion McNeeley Connect with Dion Connect with Dave (00:00) Intro (01:42) Low Income, High Debt, Lots of Responsibility (05:33) $21,000/Month Portfolio! (08:20) Have FEWER Rentals (11:51) 1. DON'T Raise Rents (18:18) 2. End Leases in the Winter (21:05) 3. DON’T Buy Near Good Schools (26:45) 4. DON’T Diversify (29:59) 5. DON’T Use LLCs (32:29) 6. Buy in BLUE States (37:30) 7. Value-Add Isn’t Worth It (40:23) Be Like Dion! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1085 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	Do not buy properties in a good school district. Have your leases end in the winter. Let your
0:06.4	tenants pick their own rent. You think you've been following real estate best practices? Well,
0:11.8	today we'll explain why everything you thought you knew might be wrong.
0:20.6	Hey friends, it's Dave Meyer.
0:22.4	Welcome to the Bigger Pockets Podcast, where we help you achieve financial freedom through real estate investing.
0:27.9	Today's guest is Dion McNeely, an investor in the Tacoma, Seattle area.
0:33.0	And you may have heard Dion before on The Rookie Show or Bigger Pockets Money podcast before, and he's pretty
0:39.2	famous for developing the quote unquote binder strategy for raising rents. Deon started investing
0:45.1	with a huge amount of debt and a low income. He used only the most basic strategies and
0:50.9	says he tried to be as lazy about his investing as possible.
0:54.9	Today, fast forward, he's retired with more passive income than he can even spend.
0:59.7	So we're going to get into the details of how he had so much success, even when he admittedly
1:04.4	put as little work as possible into his portfolio.
1:07.7	The other thing that I really like about Dion is that he's always thinking outside the
1:12.4	box and spending a lot of time challenging conventional wisdom. He's actually developed these
1:17.1	quote-unquote Dionisms that really cut against the usual advice you always hear about how to
1:23.4	manage your portfolio. These are things like having leases that end in the summer or buying houses in strong school
1:29.3	districts.
1:30.2	Dion actually says that you should never do these things.
1:33.4	And if all of that sounds crazy to you, keep listening.
1:36.3	And you might just agree with him by the end of the episode.
1:39.7	Here's me with Dionne McNeely.
	...

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