The Realistic Path to Wealth: Investing in Real Estate WHILE Working a W2 w/Lawrence Briggs

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 28 August 2024

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wondering how to invest in real estate so you can finally quit your job? Then, this episode might surprise you. While most real estate educators online are constantly stressing how you must leave your W2 so you can become a full-time real estate investor, today, we’re going to do the opposite, proving why most real estate investors SHOULD keep their job and let real estate supplement their dreams, instead of becoming their dream. Take it from Lawrence Briggs. He’s an avid BiggerPockets listener who moved to a different city just to invest in real estate. With such passion and drive, you’d think he wants to become a full-time landlord. But the truth is…he doesn’t. His passions go far beyond managing tenants and fixing toilets, so he uses real estate to amplify his lifestyle and protect his finances so that he never HAS to get a job but can choose the exact job he wants to work. Today, we’re talking to Lawrence about balancing your W2 job with real estate investing, why you DON’T need to quit to reach (even a small amount of) financial independence, the side hustle he used to save up for his first rentals, and how he works just a few hours a week managing his real estate portfolio. This is the realistic way to build wealth through real estate, and if Lawrence can go from poverty to multi-unit landlord, you can invest, too! In This Episode We Cover: How Lawrence escaped generational poverty through sacrifice and smart investing Why Lawrence does NOT want to quit his job for real estate but would do something else instead Moving to invest in real estate and why your salary-to-home-price ratio matters The realistic way to spend just a few hours a week managing your rental properties One super flexible side hustle Lawrence used to make money, learn how to invest, and find properties And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Invest in Turnkey Rentals with Rent to Retirement or text “REI” to 33777 Enter to Win a Free Ticket to BPCON2024 by Leaving a Positive Review on Apple or Spotify and Sending a Screenshot to BiggerPockets on Instagram Grab Dave’s Newest Book, “Start with Strategy” Property Manager Finder See Dave and Lawrence at BPCON2024 in Cancun! Should You Quit Your 9-5 Job to Become a Full-Time Real Investor? Connect with Lawrence Connect with Dave (00:00) Intro (01:31) BPCon2024 Giveaway! (02:55) Switching Jobs to Invest (11:24) Food Delivery Side Hustle (16:31) I DON'T Want to Quit (18:52) Breaking Generational Poverty (21:34) Dream Job for Investors (26:37) Time Spent Managing His Rentals (31:12) You Don't NEED to Quit (33:55) The Dish Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1010 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	There's a common narrative in real estate and the broader real estate investing community that you should be trying to quit your job
0:06.2	Which don't get me wrong. It's a totally legit goal and I get the sentiment. You want to be your own boss or maybe you feel like investing and working full time is too much.
0:15.2	Well today we're going to share the other side of this coin. We're going to discuss how to balance a full-time job
0:22.2	while pursuing your real estate investing journey.
0:25.0	Hey friends, it's Dave. Welcome to the the show today we're bringing on a very active member of the bigger pockets community
0:37.6	Lawrence Briggs to discuss the topic of balancing a W-2 while starting to invest in real estate.
0:46.0	Everywhere I look, Lawrence is there. He's such an active and enthusiastic member of our community.
0:51.3	He's someone I've had the privilege to meet at Bigger
0:54.0	Pocket's conference. I see him on the forums and it made me want to bring him on the
0:57.7	show so we can all learn from him because he's extremely active doing all these different things building his portfolio
1:04.2	but he also has professional interests outside of real estate and so Lawrence and I
1:10.6	are going to discuss his path to getting started in real estate investing,
1:15.2	why he chose a side hustle that supports his real estate investing journey,
1:20.0	how Lawrence saved up enough capital to build a portfolio.
1:24.0	And lastly, we'll talk about some tips and tricks that any investor can follow
1:28.0	to also balance a full-time job with real estate investing.
1:32.0	Before we bring Lawrence on I have a massive
1:36.0	giveaway to announce you guys I think it's actually the biggest maybe like highest
1:40.4	dollar value giveaway we've ever done on this podcast. It is for BP-Con.
1:46.4	If you haven't heard of it, BiggerP-Con does a conference every year and this year
1:51.6	it's in Cancun, Mexico and right now we're going to be giving away a free ticket to the conference.
1:59.0	You can win a Superior Deluxe Garden View Room. There's a lot of adjectives,
	...

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