Podcasts about biggerpockets money podcast

On this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench sit down with Dave Fleischer, a teacher who's proving that you don't need a six-figure salary to achieve financial independence. If you've ever felt discouraged because your FI number seems impossibly high or your current salary feels too small to build real wealth, this episode will completely shift your perspective by showing that financial independence isn't about how much you make, but how strategically you manage what you have.  Whether you're a teacher, earn a median income, or simply want to see how creative financial planning can accelerate your journey to freedom, you'll discover actionable strategies that work regardless of your income level and prove that YOU can follow this simple path to achieve financial freedom too. In this episode, you'll learn: How Dave and his wife became net worth millionaires at 39 years old. Can one move change your life? Living below your means is key to building wealth. If you can downsize your lifestyle, it is a cheat code. And SO Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench sit down with John Bowens from Equity Trust. John is an expert on the often-overlooked 72(t)t rule that could be a game-changer for early retirees. This often misunderstood withdrawal strategy allows people under 59.5 to tap into their retirement accounts without facing the brutal 10% early withdrawal penalty that typically guards these funds. John breaks down the complex world of Substantially Equal Periodic Payments (SEPP), walking listeners through the different calculation methods, critical liquidity considerations, and smart investment strategies that can make or break a 72T IRA approach. In this episode, you'll learn: How to access retirement funds early with the often overlooked 72(t) rule Avoiding 401(k) penalties and using retirement accounts to actually retire early  The rules and regulations you MUST follow to withdraw penalty-free  And SO Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Can smart real estate investing and the FIRE movement transform your financial future? Uncover the powerful "live-in flip" strategy that sometimes allows homeowners to renovate, sell, and pocket massive tax-free profits—all while living in the home. Learn how to leverage tax laws legally, navigate real estate markets, and maximize returns without overpaying Uncle Sam. Plus, explore the path to financial independence, the secrets some have used to reach FIRE in just 10 years, and how to avoid the "middle-class trap" that prevents many folks from achieving significant wealth. Whether you're looking to invest in property, retire early, or simply take control of your finances, this episode is packed with actionable insights. Tune in to hear Mindy Jensen, co-host of The BiggerPockets Money Podcast, share her winning strategies with Wes.

Has BiggerPockets Money become too focused on FIRE (financial independence, retire early)? For the past seven years, we've been bringing you shows highlighting the journeys of those who left their jobs to enjoy early retirement.Some of these guests did it faster than others by making more money, increasing their frugality, investing smart, or building a business. But the question many of our listeners are wondering is: Is this even possible for the average, “normal” person? Today, we're taking a hard look at the show's future and asking ourselves whether or not focusing on FIRE is still the right path forward. Should we shift topics to help the everyday American get a financial leg up, or is continuing the FIRE-focused path the best way to help YOU, our listener? This isn't a rhetorical question; we genuinely want to know! After this episode, join the BiggerPockets Money Facebook group thread, and let us know which stories YOU want to hear the most!  In This Episode We Cover Why the BiggerPockets Money Podcast rarely brings on “normal” guests achieving FIRE Can anyone achieve FIRE, and if so, how do they get there? The four financial levers you can pull to put you on the path to financial freedom  The advanced financial tactics BiggerPockets Money teaches you to grow your wealth What to do if you feel like you can't make any progress towards early retirement And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders BiggerPockets Money Group BiggerPockets Money Facebook Group BiggerPockets Money 63 - Financial Freedom With 5 Kids IS Possible with Jordan Klint BiggerPockets Money 130 - Refusing to Retire at 65: How a Couple in Their 40s Managed to Hit FI in 12 Years w/Susan and Norm Episode 560 - Dude ACTUALLY Withdraws From His 401(k) and Retires at 47 w/Eric Cooper Get on the Path to Financial Independence with “Set for Life” See Mindy and Scott at BPCON2024 in Cancun! What Is the FIRE Movement? 00:00 Intro 02:16 Talking Too Much About FIRE? 08:59 FIRE Isn't For Everyone 11:53 What is FIRE? 16:27 Can You Hit FIRE Being "Normal"? 22:42 Who Should Listen to BP Money? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-563 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

This week Chris speaks with Scott Trench, the CEO of BiggerPockets, a community and educational platform for 3M+ real estate investors. Scott hosts the BiggerPockets Money Podcast, a top personal finance podcast and is the author of finance books, Set For Life and First Time Home Buyer. Recently Scott and BiggerPockets announced a majority investment by the Chernin Group. In this episode, Scott shares his thoughts on Colorado booming tech scene, the significance of fractional executives, and his biggest lesson around mastering the performance management for leaders.Listen now on: Amazon Music (Alexa) | Spotify | Apple Podcasts or wherever you get podcasts!Connect with hosts Adam and Chris and the Range VC team on LinkedIn https://www.linkedin.com/company/range-ventures/Check out more about what we're up to at Range.vc See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Here is the second half of Bill and Jackie's conversation with Mindy and Scott on the BiggerPockets Money Podcast. They dig into the practical steps on how to start your financial journey as a late-starter. Enjoy!

Bill and Jackie were invited to join Mindy and Scott on the BiggerPockets Money podcast to go through a step-by-step process of how to get started on the path to financial independence as a late-starter, a topic highly relevant to their audience. Take a listen to this week's part one and then tune in next week for part two!

In this episode of Money Talks News, the podcast dives into the challenging housing market as Stacy Johnson and Miranda Marquit discuss strategies for buying a home despite high rates and low inventory. They are joined by real estate expert Mindy Jensen from BiggerPockets. Mindy shares insights on preparing finances, creative financing options, and the pitfalls to avoid in such a tight market. The conversation extends to the recent legal changes affecting real estate agent commissions, offering listeners a thorough understanding of the current landscape. Whether you're an eager buyer or a cautious renter, this episode provides valuable advice and perspectives. 00:00 Welcome to Money Talks News: Navigating the Housing Market00:33 Expert Insights with Mindy Jensen on Real Estate01:32 The Art of Live-In Flips and Tax Benefits03:16 Navigating a Tough Market: Strategies and Stories09:44 Financial Strategies for Buying in a High-Rate Market10:57 Understanding Mortgage Payments and Home Affordability14:50 The Rent vs. Buy Debate in Today's Market18:02 Exploring Alternative Financing and Investment Strategies19:56 The Risks and Rewards of Margin Loans for Real Estate23:12 Making Decisions in a Challenging Real Estate Market24:20 Navigating Real Estate Pricing and Mortgage Payments26:11 The Art of Negotiation and Seller Financing32:52 Exploring Mortgage Assumptions and Creative Financing42:36 Adjustable Rate Mortgages: A Risky Solution?45:17 The Future of Real Estate Commissions and Buyer's Agents Existing home sales surged 9.5% in February 2024, the largest increase in a year. Even with the rate of home sales slowing down a bit, they remain relatively strong. With home sales still fairly strong, we're not likely to see prices come down anytime soon. Combine that with relatively high mortgage rates, and it's definitely NOT a buyers market. But what if you're ready to buy a home anyway? What can you do to best position your finances to get ready to buy a home, no matter what's going on with the market? In this episode we welcome back a friend of the show Mindy Jensen from BiggerPockets to help us sort out how to get the best bang for your homebuying buck. Remember, even though we sometimes talk about money and specific investments on this show, don't take them as recommendations. Before investing in anything or making any money moves, do your own research and make your own decisions. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on Google Podcasts Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money. Why is the housing market so tough for buyers right now? We start by taking a look at why the housing market is so tough right now—and why prices remain stubbornly high. Some of the reasons that home prices haven't come down as much as we'd like: There remains a housing shortage of at least 1.5 million homes. It can be difficult to buy a home on a current income since home prices have far outpaced wage growth in recent years. Coming up with a down payment can feel challenging in the current climate. On top of that, there are concerns about how the recent settlement with the National Association of Realtors could impact buyer representation and costs for buyers. However, some of these pressures might finally help bring home prices down, at least in some markets. Depending on where you hope to buy, you might be able to find lower home prices as you move forward with your homebuying journey. Tips for preparing your finances for buying a home in any market Our episode includes helpful information on buying a home, pointing out that it depends on your goals. Trying to time the housing market, especially when you're looking for your primary residence, might not make much sense in the long run. We reference a past episode featuring Mindy, which offers tips on getting the best homebuying deal possible. But we also talk about some of the realities of getting financing these days. You don't need to put down 20%, even though that's the conventional wisdom. Indeed, first-time homebuyers often put down 6%, and some conventional programs through Fannie Mae and Freddie Mac allow as little as 3% down. Figuring out how to come up with a down payment is one of the most difficult parts of the process. Government programs can help you get a lower down payment. We talk about FHA loans and VA loans as ways to get help financing a home with a low down payment. Another option is to use seller financing. If you can work out a deal with the seller, and they don't need an immediate chunk of cash, you might be able to convince someone to help you with a deal. Keep your credit score as high as possible and make sure you have a low debt-to-income ratio to increase your chances of being approved at the most competitive rates. Understand your goals for buying. In some cases, getting a cheap live-in fix and flip, like what Mindy does, can be a way to make the most of your dollars—as long as you have the ability to upgrade the home yourself. We also spend some time on the rent vs. buy debate. In the end, figuring out why you want to buy is essential to moving forward. Miranda also talks a little bit about how much she likes renting. Meet this week's guest, Mindy Jensen Mindy Jensen is a licensed agent in Colorado, and has been buying and selling houses for more than 20 years. She's the Community Manager for BiggerPockets.com, and the host of the BiggerPockets Money Podcast. Website Podcast Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.Become a member: https://www.moneytalksnews.com/members/See omnystudio.com/listener for privacy information.

Want to be a millionaire or build a business that brings in seven figures? Want generational wealth and to be debt-free? Want to know that you have enough money to take big risks while still keeping your bank account safe? If so, you need to start thinking like the rich to begin building wealth the same way they do. “That may be easy for you to say, you host the BiggerPockets Money Podcast!” Well, don't take it from us; take it from Marc Russell. Marc grew up without advantages. He was in foster care for as long as he could remember, bouncing from house to house until finally, at age thirteen, he was adopted by parents with a strong, valuable work ethic. When Marc went to college, he had no money to pay for it, so he fought tooth and nail with the financial aid office to find scholarships, loans, or anything that could help him graduate. He was even kicked out of school once over not being able to pay a $900 fee! But this taught Marc how the system worked and eventually led to him landing a job at every FIRE chaser's favorite place, Vanguard! Once Marc started helping the rich manage their money, he looked in the mirror and asked, “Why aren't I doing these things?” Thus, he began imitating the investing tactics of the rich, budgeting for financial freedom, and investing everything he could, even if it meant a slower path to being debt-free. Now, Marc runs BetterWallet, helping everyday people start building generational wealth, no matter their circumstances. In This Episode We Cover How to copy the rich so you can build wealth no matter your upbringing Student debt, side hustles, and how to make it through college with little money Why you MUST save a large emergency reserve before you start working for yourself Investing vs. paying off debt and why the unconventional choice may be the best one Budgeting for your business and ensuring you have enough money before leaving your W2 And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggePockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders BiggerPockets Money 329 - From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street BiggerPockets Money 485 - How to Start Thinking, Acting, and Investing Like the Rich w/Vivian Tu Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-524 Learn more about your ad choices. Visit megaphone.fm/adchoices

Editor's Note: This episode initially aired on July 13, 2022. It may contain some details that are out of date. Even with talk of a cooling housing market, prices are still high, and inventory is still low. If you're looking for a good deal, what are you supposed to do? This week we're going to find out how to find a great real estate deal no matter the market. As usual, co-hosts Stacy Johnson and Miranda Marquit are joined by producer Aaron Freeman. Today's special guest is Mindy Jensen from the real estate investing and education website BiggerPockets. Remember, even though we sometimes talk about specific investments on this show, don't take them as recommendations because they're not. Before investing in anything, do your own research, and make your own decisions. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on Google Podcasts Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos. https://youtu.be/pXbYYIpisxA What's going on with the housing market? Things might be slowing down a bit, but the housing market is still red-hot in some areas. Where is the housing market overheated, and where is it likely to maintain its value? Check out our slideshow on 20 overvalued housing markets. One of these markets is in Boise, Idaho. Miranda lives in Idaho! Not all cities have seen a housing boom. Check out our article on some cities where homeowners remain underwater. Real estate really is local. Worried about a coming pullback? You might be fine if you live in one of the real estate markets likely to hold their value. Are we really in a housing market bubble? Listen to our previous podcast episode with Mindy, talking about what's next for the housing market. Before you buy a home, make sure you're not in one of these housing markets that are likely to drop. How affordable is it to buy a home? Check out the St. Louis Fed's housing affordability index and the NAR affordability index. Interested in the relationship between mortgage rates and housing prices? Check out this analysis by the Urban Institute. Tips for finding a good deal on a home Mindy thinks that it's possible to find good deals no matter what the housing market looks like. Get to know your local real estate market and start deal hunting if that's what you're interested in. First-time homeowner? Check out our article on buying your first home. Learn how to buy a home even if you have a small down payment. Stacy has advice on how to decide whether to rent or buy a house. Looking for the best location? We've got an article full of tips on finding the best location for your home. It's not always about buying a home to live in. Check out our list of cities where you can make bank when you buy a rental property. Use our tips on how to find a good rental property. Want a place to live and make money as well? Check out the BiggerPockets guide to house hacking. Meet this week's guest, Mindy Jensen[caption id="attachment_396560" align="alignnone" width="1920"] Mindy Jensen / Money Talks News[/caption] Mindy Jensen is a licensed agent in Colorado, and has been buying and selling houses for more than 20 years. She's the community manager for BiggerPockets.com, and the host of the BiggerPockets Money Podcast. Website Podcast Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.Become a member: https://www.moneytalksnews.com/members/See omnystudio.com/listener for privacy information.

In this week's episode, Patrick Donley (@JPatrickDonley) sits down with Scott Trench, CEO of BiggerPockets, to talk about how Scott pursued financial independence and shared his strategies in his book, Set for Life. You'll learn about how Scott got turned onto FI, the bet he placed on himself by leaving his W-2 and joining Bigger Pockets, what his views of the real estate market is in 2024, what his own buy box looks like, and where else he invests outside of real estate and index funds. Scott is the CEO and President of BiggerPockets and has dedicated his career to helping ordinary Americans build wealth in part through real estate investing. Since joining BP in 2014, Scott has authored the bestselling wealth-building book Set for Life and joined Mindy Jensen as co-host of the BiggerPockets Money Podcast. He is an active real estate investor in the Denver market, and currently manages a private portfolio of about $1.5M and holds his real estate license as a Colorado broker. Scott stays active in the BiggerPockets Forums and has contributed hundreds of articles, market analyses, and files to BiggerPockets. He hopes this will provide other investors the tools they need to repeat his results in just 3-5 years, giving them the option to go anywhere they want in the world, work any job, start any business, or finish out the journey to financial independence and retire young. IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro. 02:45 - How Scott first got turned onto financial independence. 05:20 - How he made his way from cubicle jockey to CEO of BiggerPockets. 07:37 - Why he is a big fan of house hacking. 09:02 - Who some of his early FI influences were. 12:51 - What the middle class wealth trap is. 16:18 - What his view of the 2024 real estate market is and where he sees opportunities. 18:50 - Why real estate is a bet on the long-term growth of the U.S. economy. 23:06 - When he thinks the right time to invest in real estate is. 32:43 - What asset class he thinks will get hurt the most in 2024. 33:14 - What Scott's buy box looks like. 35:50 - What Scott's portfolio look like. 43:25 - What Scott would have done differently looking back on his journey. 48:36 - Where else he invests outside of real estate and index funds. 51:29 - What it is like running BiggerPockets and how he structures his day. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Recommended book: Set for Life by Scott Trench. Recommended book: The Everything Guide to House Hacking by Robert Leonard. Recommended book: Early Retirement Extreme by Jacob Lund Fisker. Recommended book: Your Money or Your Life by Vicki Robin. Recommended book: Rich Dad Poor Dad by Robert Kiyosaki. Recommended book: The Millionaire Next Door by Thomas Stanley. Recommended book: The Bitcoin Standard by Saifedean Ammous. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fundrise Linkedin Marketing Solutions TurboTax HelloFresh NetSuite NerdWallet  Connect with Patrick: Twitter Connect with Scott: Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Being able to retire early is a blessing and a curse. When you first start working a job, all you can think of is escaping your everyday responsibilities. The mind-numbing tasks, the early mornings, late nights, horrible bosses—it all adds up. But, you then find the “financial independence, retire early movement (FIRE),” and almost overnight, you decide that your future will be dedicated to setting yourself financially free. You develop skills that help you make more at your job, feeding into bigger, better investments. And as a result, you end up being in a better position, at a more respectable job, earning more than you thought possible, and enjoying the challenge of everyday work. This is precisely what happened to your hosts, Mindy Jensen and Scott Trench. Both started at jobs they didn't love, wanting to be financially free. Through hard work and skill-building, Mindy and Scott were brought together, prompting them to start the BiggerPockets Money Podcast and build a company they both love. Now financially free, Mindy and Scott refuse to retire early for a good reason. In this special four-hundredth episode, Mindy and Scott share their money stories, how they found the FIRE movement, what they did with their money, and why they choose to work, even though they don't have to. If you want to know the real reason behind Scott and Mindy's skyrocketing success, stick around because their stories are much more repeatable than you may think. In This Episode We Cover The origins of the BiggerPockets Money Podcast and how risky investing prompted a powerful podcast The index fund vs. individual stock-picking debate and why Mindy started to shift her portfolio How Mindy and Scott found the FIRE movement and how they both quickly reached financial independence Becoming a CEO and why Scott's “don't ask for a raise” philosophy paid off BIG time Choosing to work instead of retiring early and why a meaningful livelihood beats a relaxing early retirement The simple but profound moves Scott made to triple his net worth in just a few years And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Connect with James Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Mr. Money Mustache's article 1,500 Days Breaking the Taboo of Talking About Money with Friends, Family, and Bosses How to Change Your Financial Life with a Money “Reset” Margin Loans: Low-Interest Lending or Risky Rates? Mindy's First Episode: Jump Starting Your Early FI Plans by Live-in Flipping Scott's First Episode: An All-Out Approach to Financial Independence at an Early Age Click here to check the full show notes: https://www.biggerpockets.com/blog/money-400 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

A commercial real estate crash is looking more and more likely in 2023. Rising interest rates, compressed cap rates, and new inventory about to hit the market is making commercial real estate, and multifamily more specifically, look as unattractive as ever to a real estate investor. But with so much money still thrown at multifamily investments, are everyday investors going to get caught up in all the hysteria? Or is this merely an overhyped crash that won't come to fruition for years to come?Scott Trench, CEO of BiggerPockets and host of the BiggerPockets Money Podcast, has had suspicions about the multifamily space since mortgage rates began to spike. Now, he's on the show to explain why a crash could happen, who it will affect, and what investors can do to prepare themselves. This is NOT a time to take on the high-stakes deals that were so prominent in 2020 and 2021. Scott gives his recommendations on what both passive and active investors can do to keep their wealth if and when a crash finally hits.But that's not all! We wouldn't be talking about multifamily without Andrew Cushman and Matt Faircloth, two large multifamily investors who have decades of experience in the space. Andrew and Matt take questions from two BiggerPockets mentees, Philip and Danny, a couple of California-based investors trying to scale their multifamily portfolios. If you want to get into multifamily the right way or dodge a lousy deal, stick around!In This Episode We Cover:The commercial real estate crash and bad news for high-interest rate investorsCap rate compression, rent stagnation, and red flags for the multifamily market Recommendations for both active and passive multifamily investorsHow to vet a real estate syndication deal when raising private capitalScaling from small to large multifamily and why the jump is easier than you thinkCash flow vs. appreciation and which is a better bet if valuations start to tankBalloon payments, adjustable-rate mortgages, and risky financing options putting new investors in a tough spotAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchListen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid's YouTube ChannelUnderstanding Rental Property Depreciation—A Real Estate Investor's GuideHouse Hacking 101—What It Is and How to Get StartedYour Debt-to-Income Ratio Can Make or Break Your Investing CareerOn The Market Podcast 65 with Ben MillerOn The Market Podcast 71 with Brian BurkeBiggerPockets Real Estate Podcast 708BiggerPockets Real Estate Podcast 719Book Mentioned in the ShowThe Hands-Off Investor by Brian BurkeConnect with Andrew, Matt, Dave, and Scott:Andrew's BiggerPockets ProfileDave's BiggerPockets ProfileMatt's BiggerPockets ProfileScott's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-721Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cryptocurrency is dead in the mind of most investors. What started as an awe-inspiring investment reaching massive multiples in just months, quickly became a subject of contention within the investing community. Some moretraditional investors called cryptocurrency an outright fraud, while others claimed it was the final puzzle piece in the battle for a stable fiat currency. Now, with many crypto prices down, is there any reason to invest?For long-time listeners of the BiggerPockets Money Podcast, you'll know that hosts Scott and Mindy don't have a terribly favorable view of cryptocurrency. Not because they think it's illegitimate, but because of its massive volatility that has borderline bankrupted many inexperienced investors. We wanted a deeper insight into why cryptocurrency could be worth investing in, so we brought Laura Shin onto the show.Laura is host of the Unchained podcast, where she updates the crypto community on the latest news stories, price action, and more. Laura is an agnostic crypto investor with a level-headed view of the benefits and risks of investing in this volatile asset. She gives us a masterclass on the current state of cryptocurrency, the history of Bitcoin, why assets like Ethereum may be more valuable, and why exchanges like FTX are not to be trusted.In This Episode We CoverThe history of cryptocurrency and how Bitcoin started a worldwide crazeEthereum vs. Bitcoin and why “ultra-sound” money could beat the restThe “crypto winter” and whether or not now is a buying opportunity for investorsMoney crypto vs. tech crypto and why there may be more than one coin left standingFTX, fraud, and how crypto exchanges can lose your coins, and the best way to protect yourselfAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingScott's InstagramMindy's TwitterListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy's 2022 Live Spending Tracker and BudgetFinance Friday: First Down Market? Here's How to Stop StressingUnchained podcastBitcoin: Investing Fad or Final Bullet to Fiat Currency?Click here to check the full show notes: https://www.biggerpockets.com/blog/money-375Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What should retirement planning look like? How can I invest if I am still paying off student loan debt? What makes a perfectly diversified portfolio? And when is the right time to pay off my rental properties? We went to the BiggerPockets Money Facebook Group to ask what you would like to know from a money expert. And thankfully, we found a couple of them who are friends of the show. Amanda Wolfe and Kyle Mast are here to answer some of your most-asked money questions!Amanda Wolfe was recently a guest on the BiggerPockets Money Podcast, sharing her story of reaching financial freedom after going through serious financial struggles and childhood poverty. Kyle Mast, Certified Financial Planner, has recently “retired” after helping his clients reach their financial goals with minimal stress and maximum freedom. They're helping Mindy on today's show to take questions directly from listeners about everything ranging from real estate to retirement planning and never feeling like you have enough.If you've struggled not knowing how to pay down debt, how much cash to have on hand, or are having a mental block when switching from saving to spending mode, this episode could alleviate your worries. If you'd like to get more connected with the BiggerPockets Money community and potentially get your questions answered on a future show, be sure to join the BiggerPockets Money Facebook Group!In This Episode We CoverHow to invest while paying down student loan debt, or any other debt for that matterTransitioning from saver to spender when you have enough to finally retireReal estate vs. index funds and which is more optimal for a post-retirement portfolioRoadblocks on the way to financial freedom and why you DON'T need retirement accounts to invest for retirementWhat a diversified portfolio looks like (it's much simpler than you think)Money moves to make if you don't have much cash, but do have consistent incomeAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy's 2022 Live Spending Tracker and BudgetEpisode 200 Special: A Personal Finance Masterclass with Kyle MastHow to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle MastShe Wolf of Wall Street WebsiteFrom Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall StreetClick here to check the full show notes: https://www.biggerpockets.com/blog/money-353Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Real estate investing wouldn't be the same without BiggerPockets. If you were lucky enough to attend BPCon 2022 in sunny San Diego, you'll know what we mean. With a sea of investors ready to network, advise, and invest with one another, this event shows how powerful the community of real estate investors is. But even if you weren't able to make it this year, you can still get a sneak peek at what a BPCon panel looks like!On this bonus episode, sponsored by Rent to Retirement, we take hosts from all our different podcasts to give their advice, expertise, and tips to new and aspiring real estate investors. You'll hear Ashley Kehr and Tony Robinson from the Real Estate Rookie Podcast answer tactical questions on partnerships, LLCs, and refinancing. Then, BiggerPockets Money Podcast host Mindy Jensen joins The Real Estate InvestHer Show duo, Liz Faircloth and Andresa Guidelli, to play the “spend or save” game.We also bring on the whole cast of our newest show, On the Market, to analyze two deals live in front of the entire audience to see whether or not two flips are flops. Finally, for all you original BiggerPockets Real Estate Podcast listeners, we have David Greene and Rob Abasolo welcoming a special guest back to the show—one that many of you surely missed.In This Episode We Cover:How to apply for a mentorship with hosts from your favorite BiggerPockets PodcastWhen to keep properties in your personal name vs. in an LLCSpending vs. saving, and when to pay top price for contractors, cars, self-care, and more!Live deal reviews of two “profitable” flips in a hot market and why you can't always trust the numbersA special cameo from a long-time friend of the showDavid's secret jiu-jitsu move to instantly de-escalate an attack from Rob Abasolo And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchListen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaHear Last Year's Live Panel from BPCon 2021Rookie Podcast 106: Asset Protection on RookieMentorships on InvestHerBiggerPockets Podcast 443 with Jim KwikDavid's BiggerPockets ProfileRob's BiggerPockets ProfileBrandon's BiggerPockets ProfileDave's BiggerPockets ProfileAshley's BiggerPockets ProfileTony's BiggerPockets ProfileMindy's BiggerPockets ProfileAndresa's BiggerPockets ProfileLiz' BiggerPockets ProfileHenry's BiggerPockets ProfileJames' BiggerPockets ProfileJamil's BiggerPockets ProfileKathy's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-BONUSInterested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Part 4 of BPCON Shorts ends this fun series with a bang! Brian Murray is known for his expertise and knowledge of multifamily and mobile home park Investing. He's the author of Crushing It In Apartments and Real Estate and co-wrote The Multifamily Millionaire Vol. 1 & 2 alongside Brandon Turner. He's also the Co-Founder and Key Principal of Open Door Capital. Brian quickly talks about his portfolio and what he's excited about in his business in the upcoming years. Next is Eve Pederson who's looking to acquire a 4 plex in Huntington Beach, CA that she's going to house hack. She shares some numbers and a very creative way of acquiring the capital needed to take down a $1.7M deal. REIA Radio's Episode 39 guest, Sarah Weaver, talks about the book she co-wrote with Zeona McIntyre titled The 30-Day Stay. They share how to choose your property manager, how to underwrite deals and how the process of writing the book was. Last but certainly not least, we have The Mindy Jensen. For those that don't know Mindy, check out the BiggerPockets Money Podcast and you'll understand why she's such a big deal and why we love her! She shares insights about her new book First Time Homebuyer that she co-wrote with Scott Trench, as well as so much golden nuggets! Listeners... From the multimillionaire to the aspiring investor with $70k of student loan debt, that's the real benefit of these conferences... the connections, the business opportunities that can come out of it with proper follow up systems and the possibilities of having a life changing experience or conversation. Everyone who comes to these events knows that it's worth every penny invested!  You can Join the Omaha REIA at https://omahareia.com/ Omaha REIA on facebook https://www.facebook.com/groups/OmahaREIA Check out the National REIA https://nationalreia.org/ Find Ted Kaasch at www.tedkaasch.com Owen Dashner on Facebook https://www.facebook.com/owen.dashner Instagram https://www.instagram.com/odawg2424/ Red Ladder Property Solutions www.sellmyhouseinomahafast.com Liquid Lending Solutions www.liquidlendingsolutions.com Owen's Blogs www.otowninvestor.com www.reiquicktips.com Brian Murray https://www.instagram.com/crushingitbrian/ Eve Pederson https://www.instagram.com/evepederson/ Sarah Weaver https://www.instagram.com/sarahdweaver/ Zeona McIntyre https://www.instagram.com/zeonamcintyre/ Mindy Jensen https://www.instagram.com/mindyatbp/ If you like the content on Omaha REIA Radio, Be sure to give us a review on your favorite podcast platform to help others find us and leverage the knowledge and experience our hosts and guests have to offer. We greatly appreciate you for tuning in and see you in the next episode!! 

ABOUT SCOTT TRENCHScott Trench is the CEO and President of BiggerPockets. An active real estate investor and licensed agent in Denver, CO. He was named President and CEO in 2018 and continues to be a passionate real estate investor and personal finance junkie.   He is also the author of Set for Life, co-author of First Time Home Buyer, and podcast host of the BiggerPockets Money Podcast. He has contributed thousands of posts to the BiggerPockets forums, and hundreds of articles to the BiggerPockets blog and other media outlets. Scott graduated from Vanderbilt University with degrees in Economics and History, Corporate Strategy, and Finance.   THIS TOPIC IN A NUTSHELL: [01:17] Scott's career background[02:29] His real estate journey[03:30] Financial freedom concept and discovery of BiggerPockets platform[05:00] Getting into First deal (House hack)[07:43] Pathway to financial freedom for someone starting out[11:52] Advice to someone who wants to escape the rat race[12:40] How to build up your cash reserve[17:05] What is a middle-class trap and how to avoid it?[22:07] Scott's take on Syndication and raising capital[24:50] Creative ways to maximize your income [27:00] Advice to his 25-year-old self[27:52] First Entrepreneurial endeavor[28:49] Formal and informal training that shaped his journey[30:20] Biggest mistake and what he learned from it[34:00] His take on buying more properties amidst inflationary times[37:00] Using leverage on deals [41:10] Utilizing HELOC   KEY QUOTE: [09:42] Everyone talks about earning more money but you can't really control that. What you can control is your savings rate, how you begin to invest, and whether you have a side hustle where you can begin to think of these great options, so I would start from there.  [10:49] Play a game you can win. I think a lot of companies have this corporate ladder. Can you stockpile enough cash from your hustle that helps you escape the rat race? Set yourself up in a game that you can win and that starts with a stable financial position, low expenses, and flexibility to pursue things that may not pay you back immediately. [27:00] Advice to 25-year-old-self:Self-educate relentlessly. Read as much as possible, and absorb as many frameworks as possible. That's gonna pay early in due time.   SUMMARY OF BUSINESS:BiggerPockets.com is the world's largest online network of real estate investors. We help ordinary Americans build wealth and achieve financial freedom through real estate investing. Some of our users have just a few properties and use real estate as a small part of their overall wealth-building plan, while others go all-in and use it as the primary tool in their portfolio. Our role is to help them increase the odds of success in their investing careers and help them build wealth faster and with less risk by giving them access to great content (and debate!) about nearly every aspect of real estate investing imaginable. Our members also have access to an incredible network of nearly one million investors and real estate professionals, along with a suite of tools we've designed to help them find, finance, and analyze potential investments.  ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.      The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.          #investmentproperty #realestate #investment #realestateinvesting #passiveincome #propertyinvestment #passiveinvesting #realestateinvestor #selfeducate #realestateinvestment #REinvesting #financejunkie #spendless #thoughtplatform #acquisitions #financialfreedom #homebuyer #SetForLife #escapetheratrace #bestsellingauthor #househacking #valueadd #passivewealth #BiggerPockets #moneymanagement #buildyourcashreserves #broker #Denver #Colorado #accumulatecapital #assetcreation #buildyournestegg #HELOC #middleclasstrap #WIN #JointheWINpod #WestsideInvestorsNetwork  CONNECT WITH SCOTT TRENCH: Website: https://www.biggerpockets.com/LinkedIn: https://www.linkedin.com/in/scott-trench-53056a22/Instagram: https://www.instagram.com/scott_trench/   CONNECT WITH US   For more information about investing with AJ and Chris:  ·    Uptown Syndication | https://www.uptownsyndication.com/  ·    LinkedIn | https://www.linkedin.com/company/71673294/admin/         For information on Portland Property Management:  ·    Uptown Properties | http://www.uptownpm.com  ·    Youtube | @UptownProperties      Westside Investors Network  ·    Website | https://www.westsideinvestorsnetwork.com/  ·    Twitter | https://twitter.com/WIN_pdx  ·    Instagram | @westsideinvestorsnetwork  ·    LinkedIn | https://www.linkedin.com/groups/13949165/  ·    Facebook | @WestsideInvestorsNetwork  ·    Youtube | @WestsideInvestorsNetwork  

Quitting your job is a big decision and it doesn't always lead to the perfect outcome—at least not immediately. Most people think that you have to be miserable or make very little money to want to quit a job, but even high earners still find themselves struggling to attend their nine-to-fives. Pat Hiban is the perfect example. He quit during his prime even as he was making a high income and after owning his own company. Regardless of all the respect, responsibility, and ability to make phenomenal income, it just wasn't enough for Pat.You may be feeling the same. Maybe you're daydreaming about multifamily investing as you sit at work, or picturing the perfect vacation rental property on your commute. Whatever your reason, quitting might be the best move for you to make, but only if it's the right time. Don't worry if you're struggling with decision fatigue, Pat and fellow quitter Tim Rhode just came out with their newest book, The Quitter's Manifesto: Quit a Job You Hate for the Work You Love.In it, Pat and Tim give stories and tools that will help you on your path to building wealth while leaving a job that you hate. The resources you'll find in this book are exactly what our very own David Greene used when deciding to quit his highly lucrative, but mentally draining job as a police officer. If you've been sitting on the fence, not knowing the next step to take in your career, this book may be exactly what you need.In This Episode We Cover:How to quit your job and start investing in real estate full-timeThe five factors of a soul-sucking job and how to evaluate whether or not it's time to jump shipFinding the "quitter's trapeze” that can help you transition from W-2 to self-employed workerBuilding your team of quitters who will hold you accountable and take you to the next level of your careerWhat it looks like when you're ready to quit and how to emotionally prepare for the impactAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's TwitterBiggerPockets Podcast 190 with PatBiggerPockets Podcast 353 with TimHear David's Real Estate Origin Story on The “BiggerPockets Money Podcast”10 Challenges to Seriously Consider BEFORE Quitting Your Day JobBooks Mentioned in the Show:6 Steps to 7 Figures by Pat HibanThe Quitter's Manifesto by Tim Rhode and Pat HibanConnect with Pat & Tim:Pat's LinkedInPat's BiggerPockets ProfileTim's WebsiteTim's LinkedInClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-648Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Even with talk of a cooling housing market, prices are still high, and inventory is still low. If you're looking for a good deal, what are you supposed to do? This week we're going to talk about how to find a great real estate deal no matter the market. As usual, co-hosts Stacy Johnson and Miranda Marquit are joined by producer Aaron Freeman. Today's special guest is Mindy Jensen from the real estate investing and education website Bigger Pockets. Remember, even though we sometimes talk about specific investments on this show, don't take them as recommendations because they're not. Before investing in anything, do your own research, and make your own decisions. Listen on Apple Podcasts Listen on Google Podcasts Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos. What's going on in the housing market? Things might be slowing down a bit, but the housing market is still red-hot in some areas. Where is the housing market overheated, and where is it likely to maintain its value? Check out our slideshow on 15 overvalued housing markets. One of these markets is in Boise, Idaho. Miranda lives in Idaho! Not all cities have seen a housing boom. Check out our article on some cities where homeowners remain underwater. Real estate really is local. Worried about a coming pullback? You might be fine if you live in one of the real estate markets likely to hold their value. Are we really in a housing market bubble? Listen to our previous podcast episode with Mindy, talking about what's next for the housing market. Before you buy a home, make sure you're not in one of these housing markets that are likely to drop. How affordable is it to buy a home? Check out the St. Louis Fed's housing affordability index and the NAR affordability index. Interested in the relationship between mortgage rates and housing prices? Check out an analysis by the Urban Institute. Tips for finding a good deal on a home Mindy thinks that it's possible to find good deals no matter what the housing market looks like. Get to know your local real estate market and start deal hunting if that's what you're interested in. First-time homeowner? Check out our article on buying your first home. Learn how to buy a home even if you have a small down payment. Stacy has advice on how to decide whether to rent or buy a house. Looking for the best location? We've got an article full of tips on finding the best location for your home. It's not always about buying a home to live in. Check out our list of cities where you can make bank when you buy a rental property. Use our tips on how to find a good rental property. Want a place to live and make money as well? Check out the Bigger Pockets guide to house hacking. Meet this week's guests, Mindy Jensen Mindy Jensen is a licensed agent in Colorado, and has been buying and selling houses for more than 20 years. She's the Community Manager for BiggerPockets.com, and the host of the BiggerPockets Money Podcast. Website Podcast About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors. Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Budget meals, cheap eats, and deliciously discounted recipes are all in this episode of the BiggerPockets Money Podcast. As many of you financial freedom chasers know, one of the biggest monthly expenses on your budget tends to be food costs. Whether that be going out or grocery shopping to feed yourself, your spouse, your kids, and anyone else in your family— eating well isn't cheap…or so most people think.Beth Moncel is here to tell you that the preconceived notion of good food = expensive food, isn't exactly right. Beth started her blog, Budget Bytes, over a decade ago during the great recession, when many families struggled to put food on the table. With a degree in nutrition, Beth knew that she could scientifically design recipes that not only filled up her family but helped her do so on a budget.If you're constantly going over your food budget, this is the episode to listen to. Beth gives a masterclass on food budget savers vs. sinkers, pantry staples and go-to recipes, meal planning, eating out, and whether or not you should shop on an empty stomach. Prepare to upgrade your dinner time while keeping more cash in your pocket!In This Episode We CoverCommon mistakes budgeters make when trying to plan weekly meals The biggest budget busters you'll find in your local grocery store and what to buy insteadBeth's go-to recipes that also act as pantry clean-out meals for less food wasteMeal planning and how to start with simple, filling recipes you won't get tired ofShopping without coupons and why the best ingredients are often the cheapestCalculating the exact cost of your meals and tweaking recipes for frugal shoppersAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy's 2022 Live Spending Tracker and BudgetBiggerPockets Money Podcast 251 with Preston CooperFlipp.com WebsiteBudgetBytes.comConnect with DavidSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A master's degree shows quite simply that you're a master (at least to some extent) in a certain subject. For decades, getting a master's degree has been seen as a financially savvy move to open you up to higher pay, better job opportunities, and golden networking connections. But times have changed, and as more students see college as an inferior option to working, it begs the question: is a graduate degree worth the price?You can't know the answer unless you compile tens of thousands of pieces of data. Thankfully, we didn't have to do that, we just invited Preston Cooper on the show to explain the research he and his team at FREOPP did. You may recognize Preston from his previous episode on the BiggerPockets Money Podcast where he mapped out which undergraduate degrees were worth it. Now, he's back to show which master's degrees have the highest (and lowest) ROI.You'll hear Preston answer questions like when is the right time to go back to school, which master's degrees are fatal for financial freedom, and how students should go about choosing a degree or a combination of degrees. So, whether you're pondering going back to school to get a degree in underwater basket weaving, horse training, or law, Preston has the data to help you make that decision! In This Episode We CoverWhy different schools can have dramatically different degree ROIsThe best (and worst) master's degrees to pursue How degree combinations can help you make more money in a related career When is the right time to pursue a graduate degree (after college or after working)?The common misconception about MBAs and why most graduate business degrees aren't worth the costThe future cost of college tuition as admission rates drop and inflation continues to rise And So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingScott's InstagramMindy's TwitterApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Hear Our Previous Interview with Preston on Episode 251Check Out Preston's Grad Degree and Bachelor Degree Study:More FREOPP Higher Education Resources FREOPPIs A Master's Degree Worth The Pay Raise?Connect with Dave on BiggerPocketsCheck the full show notes here: https://www.biggerpockets.com/blog/money-293See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Do you know how to ask for a raise? If you're like most people, you probably think that we're asking a rhetorical question. If you think it's as easy as simply walking up to your boss, asking for more money, and leaving, you probably haven't ever asked for a raise before. Behind every pay raise request is a clammy-handed employee, hoping that they've done well enough to justify that salary bump. Maybe you're nervous to talk to your boss, maybe you feel unprepared, or maybe you just find it hard to talk about money.On today's show, Kassandra Dasent, program manager and wealth advocate, touches on how every employee can prepare to get the raise they deserve. Despite what most people think, you should NOT prepare for your salary review days before it happens. Kassandra has a simple timeline that allows employees to maximize their raise potential throughout the year. So, when it finally comes time to talk numbers, most of the discussion is already done.This type of strategy has not only helped Kassandra but numerous listeners of the BiggerPockets Money Podcast. But, what if you can't get a raise? What if your boss says no? What if there's no budget left for you at the end of the day? Don't fret, Kassandra lays out the exit strategies you should plan for when career hiccups happen (which they inevitably will). In This Episode We CoverBuilding your “success folder” and using it as your greatest tool in a salary negotiation Taking initiative on pay raises and not letting your boss control your careerMitigating the fear of talking about money and using your goals to ask for a raise with confidence How job-hopping really looks to employers and how it will dictate your career pathStrategizing your raise and negotiating for more than just money How often you should update your resume (even if you've been at the same company)And So Much More!Check the full show notes here: https://www.biggerpockets.com/blog/money-287See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Home insurance isn't the sexiest topic, but in the world of financial independence, predictability is quite an attractive trait to have. That's why money nerds across the world value insurance as a natural hedge against catastrophic wealth-ending disasters. Whether you're a homeowner, a renter, or a landlord, home insurance could help you rebuild quicker after the unexpected happens.Recently, a large fire broke out around the Denver, Colorado area, affecting families in Mindy's home city of Longmont. Thankfully, Mindy and her family are safe, but many didn't share the same fate. Hundreds of households were left without homes, while they watched their old neighborhoods turn to ashes and embers. This prompted Mindy to invite her good friend and insurance expert, Steve Longenecker, onto the show to discuss how you can financially protect your family when disaster strikes.Are you underinsured thanks to rising home prices? How much will your insurance company pay you if your home is destroyed? How are renters protected during natural disasters? And who should you contact to make a claim? All these questions (and more) are answered in today's bonus episode of the BiggerPockets Money Podcast. In This Episode We CoverHow home price appreciation greatly affects your insurance coverage Checking to make sure you're not underinsured or overinsured “Binding restrictions” and how insurance companies use them during disasters Tips for homeowners on getting the most appropriate insurance policy for their needs Renters insurance and how renters can stay protected as wellHow to submit and process a claim with your insurance agentAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Our perceptions of work and life have changed significantly over the past year. While we once had a clear distinction between the two, now, we have a blurred line barely separating them. For some, this has made their life more hectic, and for others, more clear. It's now more important than ever to define where we're going and why we're going in that direction.Joining David today is Mindy Jensen, host of the BiggerPockets Money Podcast, and Geoff Woods, host The ONE Thing Podcast. Many guests on the show have mentioned The ONE Thing for its simple, yet impactful message for team leaders and solopreneurs who have too much on their plates. Geoff has taken the message of this book and his organization to heart, allowing him to free up time, and live a truly extraordinary life.Geoff unpacks exactly what it means to have intentional goals and live with purpose. He is very specific on defining what truly matters to your business, personal life, and internal values, and separates those things from the rest. Geoff also brings on Jordan and John, two business partners, one of which attended The ONE Thing Retreat last year, and talks them through their long-term vision, goal, and strategy.In This Episode We Cover:The importance of striving to live an extraordinary life in all aspects How to become more purposeful in the areas of life that truly matterWorking through goal setting in partnerships, relationships, or soloWhy most people don't reach their goals or set too attainable goalsPermitting yourself to dream big for a five, ten, or twenty-year visionWhat you can expect at The ONE Thing's 2021 RetreatWhy the purpose of a goal isn't the result, but something far more meaningfulAnd So Much More!Links from the ShowBrandon Turner's InstagramDavid Greene's InstagramBiggerPockets WebinarsBiggerPockets Pro MembershipThe 1 thing WebsiteThe 1 thing podcastBiggerPockets Podcast 411: The Life-Changing Power of a Goal-Setting Retreatwith Geoff WoodsThe 1 thing Goal Setting Retreat WebsiteClick here to check the full show notes: https://www.biggerpockets.com/show525See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Marching along Bourbon Street last week was a parade with some of the best real estate investors in the world, celebrating another successful BPCon, ready to take on the world. Throughout the past week, attendees of the conference heard from world-class business leaders, investors, and authors, learning about everything from running a business to short-term rental markets, to self-storage, and more. On this live episode, your hosts, Liz Faircloth and Andresa Guidelli, are joined by Brandon Turner and David Greene, hosts of the BiggerPockets Podcast, Scott Trench, host of the BiggerPockets Money Podcast, and Ashley Kehr and Tony Robinson, hosts of the Real Estate Rookie Podcast, plus special guest Esther, who has a widely impressive portfolio herself. You'll hear the hosts talk about topics like how to connect with fellow investors, future trends influencing the real estate market, what's working today (and what isn't), plus a live version of the Famous Four and Fire Round.  If you weren't able to make it to this year's BPCon, plug into this episode and get on the waiting list for next year! In This Episode We Cover What's ‘firing up' the hosts of the BiggerPockets Podcast Network? What investors can do in today's market to ensure wealth tomorrow Future trends that allow investors to profitably pivot  How BPCon helps connect investors, reshape ideas, and build wealth How do you vet partners before you go in on a deal with them? The top characteristics that contribute to your success as an investor  Why you should definitely be at BPCon 2022  And So Much More! Links from the Show NPR (National Public Radio) Kevin Leahy's BiggerPockets Profile Mark Ferguson's InvestFourMore Wendy Papasan's LinkedIn Profile Noah Evans's LinkedIn Profile Rickey Rodriguez's BiggerPockets Profile Your First Real Estate Investment Podcast: How to Recover from the Great Recession and Leverage Creative Financing to Fund Your First Deal Joe Asamoah's BiggerPockets Author Profile AJ Osborne's Personal Website Steve Rozenberg's BiggerPockets Profile InvestHer's Partnership Question Guide Meetup Hal Elrod's Personal Website Dave Ramsey's Personal Website Cashflow The Board Game Matt Faircloth's BiggerPockets Author Profile BiggerPockets Calculators The Real Estate InvestHER Community Connect with the BiggerPockets Hosts: BiggerPockets Real Estate Podcast Listen to the BiggerPockets Podcast Brandon's BiggerPockets Profile David's BiggerPockets Profile BiggerPockets Money Podcast Listen to the BiggerPockets Money Podcast Scott's BiggerPockets Profile Mindy's BiggerPockets Profile Real Estate Rookie Podcast Listen to the Real Estate Rookie Podcast Tony's BiggerPockets Profile Ashley's BiggerPockets Profile InvestHER Podcast Listen to the Real Estate InvestHER Podcast Andresa's BiggerPockets profile Liz's BiggerPockets profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Marching along Bourbon Street last week was a parade with some of the best real estate investors in the world, celebrating another successful BPCon, ready to take on the world. Throughout the past week, attendees of the conference heard from world-class business leaders, investors, and authors, learning about everything from running a business to short-term rental markets, to self-storage, and more.On this live episode, your hosts, Liz Faircloth and Andresa Guidelli, are joined by Brandon Turner and David Greene, hosts of the BiggerPockets Podcast, Scott Trench, host of the BiggerPockets Money Podcast, and Ashley Kehr and Tony Robinson, hosts of the Real Estate Rookie Podcast, plus special guest Esther, who has a widely impressive portfolio herself.You'll hear the hosts talk about topics like how to connect with fellow investors, future trends influencing the real estate market, what's working today (and what isn't), plus a live version of the Famous Four and Fire Round. If you weren't able to make it to this year's BPCon, plug into this episode and get on the waiting list for next year!In This Episode We CoverWhat's ‘firing up' the hosts of the BiggerPockets Podcast Network?What investors can do in today's market to ensure wealth tomorrowFuture trends that allow investors to profitably pivot How BPCon helps connect investors, reshape ideas, and build wealthHow do you vet partners before you go in on a deal with them?The top characteristics that contribute to your success as an investor Why you should definitely be at BPCon 2022 And So Much More!Links from the ShowNPR (National Public Radio)Kevin Leahy's BiggerPockets ProfileMark Ferguson's InvestFourMoreWendy Papasan's LinkedIn ProfileNoah Evans's LinkedIn ProfileRickey Rodriguez's BiggerPockets ProfileYour First Real Estate Investment Podcast: How to Recover from the Great Recession and Leverage Creative Financing to Fund Your First DealJoe Asamoah's BiggerPockets Author ProfileAJ Osborne's Personal WebsiteSteve Rozenberg's BiggerPockets ProfileInvestHer's Partnership Question GuideMeetupHal Elrod's Personal WebsiteDave Ramsey's Personal WebsiteCashflow The Board GameMatt Faircloth's BiggerPockets Author ProfileBiggerPockets CalculatorsThe Real Estate InvestHER CommunityConnect with the BiggerPockets Hosts:BiggerPockets Real Estate PodcastListen to the BiggerPockets PodcastBrandon's BiggerPockets ProfileDavid's BiggerPockets ProfileBiggerPockets Money PodcastListen to the BiggerPockets Money PodcastScott's BiggerPockets ProfileMindy's BiggerPockets ProfileReal Estate Rookie PodcastListen to the Real Estate Rookie PodcastTony's BiggerPockets ProfileAshley's BiggerPockets ProfileInvestHER PodcastListen to the Real Estate InvestHER PodcastAndresa's BiggerPockets profileLiz's BiggerPockets profileSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Marching along Bourbon Street last week was a parade with some of the best real estate investors in the world, celebrating another successful BPCon, ready to take on the world. Throughout the past week, attendees of the conference heard from world-class business leaders, investors, and authors, learning about everything from running a business to short-term rental markets, to self-storage, and more.On this live episode, your hosts, Brandon and David, are joined by Scott Trench, host of the BiggerPockets Money Podcast, Ashley Kehr and Tony Robinson, hosts of the Real Estate Rookie Podcast, and Liz Faircloth and Andresa Guidelli, hosts of The Real Estate InvestHER Podcast, plus special guest Esther, who has a widely impressive portfolio herself.You'll hear the hosts talk about topics like how to connect with fellow investors, future trends influencing the real estate market, what's working today (and what isn't), plus a live version of the Famous Four and Fire Round.If you weren't able to make it to this year's BPCon, plug into this episode and get on the waiting list for next year!In This Episode We Cover:What's ‘firing up' the hosts of the BiggerPockets Podcast Network?What investors can do in today's market to ensure wealth tomorrowFuture trends that allow investors to profitably pivotHow BPCon helps connect investors, reshape ideas, and build wealthHow to vet partners before you go in on a deal with themThe top characteristics that contribute to your success as an investor Why you should definitely be at BPCon 2022 And So Much More!Links from the Show:NPR (National Public Radio)Kevin Leahy's BiggerPockets ProfileMark Ferguson's InvestFourMoreWendy Papasan's LinkedIn ProfileNoah Evans's LinkedIn ProfileRickey Rodriguez's BiggerPockets ProfileYour First Real Estate Investment Podcast: How to Recover from the Great Recession and Leverage Creative Financing to Fund Your First DealJoe Asamoah's BiggerPockets Author ProfileAJ Osborne's Personal WebsiteSteve Rozenberg's BiggerPockets ProfileInvestHer's Partnership Question GuideMeetupHal Elrod's Personal WebsiteDave Ramsey's Personal WebsiteCashflow The Board GameMatt Faircloth's BiggerPockets Author ProfileBiggerPockets CalculatorsThe Real Estate InvestHER CommunityCheck the full show notes here: https://biggerpockets.com/show518See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Marching along Bourbon Street last week was a parade with some of the best real estate investors in the world, celebrating another successful BPCon, ready to take on the world. Throughout the past week, attendees of the conference heard from world-class business leaders, investors, and authors, learning about everything from running a business to short-term rental markets, to self-storage, and more.On this live episode, your hosts, Ashley Kehr and Tony Robinson, are joined by Brandon Turner and David Greene, hosts of the BiggerPockets Podcast, Scott Trench, host of the BiggerPockets Money Podcast, and Liz Faircloth and Andresa Guidelli, hosts of The Real Estate InvestHER Podcast, plus special guest Esther, who has a widely impressive portfolio herself.You'll hear the hosts talk about topics like how to connect with fellow investors, future trends influencing the real estate market, what's working today (and what isn't), plus a live version of the Famous Four and Fire Round. If you weren't able to make it to this year's BPCon, plug into this episode and get on the waiting list for next year!In This Episode We CoverWhat's ‘firing up' the hosts of the BiggerPockets Podcast Network?What investors can do in today's market to ensure wealth tomorrowFuture trends that allow investors to profitably pivot How BPCon helps connect investors, reshape ideas, and build wealthHow to vet partners before you go in on a deal with themThe top characteristics that contribute to your success as an investor Why you should definitely be at BPCon 2022 And So Much More!Links from the ShowNPR (National Public Radio)Kevin Leahy's BiggerPockets ProfileMark Ferguson's InvestFourMoreWendy Papasan's LinkedIn ProfileNoah Evans's LinkedIn ProfileRickey Rodriguez's BiggerPockets ProfileYour First Real Estate Investment Podcast: How to Recover from the Great Recession and Leverage Creative Financing to Fund Your First DealJoe Asamoah's BiggerPockets Author ProfileAJ Osborne's Personal WebsiteSteve Rozenberg's BiggerPockets ProfileInvestHer's Partnership Question GuideMeetupHal Elrod's Personal WebsiteDave Ramsey's Personal WebsiteCashflow The Board GameMatt Faircloth's BiggerPockets Author ProfileBiggerPockets CalculatorsThe Real Estate InvestHER CommunityConnect with the BiggerPockets Hosts:BiggerPockets Real Estate PodcastListen to the BiggerPockets PodcastBrandon's BiggerPockets ProfileDavid's BiggerPockets ProfileBiggerPockets Money PodcastListen to the BiggerPockets Money PodcastScott's BiggerPockets ProfileMindy's BiggerPockets ProfileReal Estate Rookie PodcastListen to the Real Estate Rookie PodcastTony's BiggerPockets ProfileAshley's BiggerPockets ProfileInvestHER PodcastListen to the Real Estate InvestHER PodcastAndresa's BiggerPockets profileLiz's BiggerPockets profileSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Scott Trench is the CEO and President of BiggerPockets. Scott has Dedicated his Career to Helping ordinary Americans Build Wealth in Part through Real Estate Investing. Since joining BiggerPockets in 2014, Scott has Authored the Bestselling Wealth-building book “Set for Life” and joined Mindy Jensen as Co-host of the BiggerPockets Money Podcast. In this episode we talked about: Founding a tiny Startup called BiggerPockets Scott's first real estate purchase Scott's Professional Development The Evolution of Scott's Investing Career 2014-2021 Partnerships Publishing with BiggerPockets Life as the CEO The Money Podcast 2021-2022 Outlook Mentorship, Resources and Lessons Learned Useful links: https://www.biggerpockets.com/users/scotttrench Instagram @scott_trench Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies gentlemen, welcome to working capital the real estate podcast. I'm Jennifer galley and my special guest today. As usual as Scott trench, Scott trench is the CEO and president of bigger pockets.    Scott has dedicated his career to helping ordinary Americans build wealth in part through real estate investing. Since joining BiggerPockets in 2014, Scott has authored the bestselling wealth building book set for life and joined Mindy Jensen as cohost of the bigger pockets, money podcast, Scott, how's it going? Hey,    Scott (52s): It's going great. Thanks for having me.    Jesse (54s): Yeah, my pleasure to have you good to finally connect. I don't know if, if you were at BP con last, was it now two years ago when we were in Austin, Texas, where are you at that event?    Scott (1m 5s): I was at, well, I, I w we had one in Nashville, Tennessee. That was that. Yeah, it was, I was at that one    Jesse (1m 11s): Nashville. Now I'm mixing them up. I was in Austin for another real estate thing. Yeah, absolutely. It was a national first thing I did. I got off the plane. Just see you guy holding a guitar. I'm like, I'm in Nashville.    Scott (1m 21s): Yeah. I went to school there and it's a wonderful city, you know, maybe might've influenced that as the choice for the, the conference back then, but awesome.    Jesse (1m 30s): So, yeah, I guess I probably would have crossed paths with you at that point, but I didn't realize that you were with the organization for, for such a long time in 2014. So back then, how did, how did you get your start with, with that organization?    Scott (1m 45s): Yeah, so I joined BiggerPockets, well, I started my career as a financial analyst at a fortune 500 company, and immediately decided I wanted to become financially free rather than climb the corporate ladder. And so I found a company called BiggerPockets and their podcasts and started listening to it and thinking about real estate investing and early retirement, the fire movements. And so I kind of combined the two spent as little as I possibly could and bought a house hack one year out of college after saving up my, my funds and simultaneously, you know, I started my career in August, 2013 by August, 2014.    I was simultaneously under contract on my first duplex and a new employee at a tiny startup called BiggerPockets as the director of operations. I'm working alongside Brandon Turner and Josh dork and the founder    Jesse (2m 32s): Right on. So you were basically you're in school in a, was it a Vanderbilt? A university? I think last time I checked this online. Yep. Go doors. There you go. And so you buy your first property. Tell us that. Tell us that story. What was, what was your first foray into, into real estate investing?    Scott (2m 50s): Sure. It was a duplex in a, the Northeast corner of Denver called Cole Clayton, and it was a up and coming area and I bought a duplex for $240,000 needed some work, rented out each, each unit and, or rent out. The other unit lived in half, had a roommate. And that was kind of the start to my career. I put down 5%, $12,000 as a, as the down payment. Other side rented for like 1150 mortgage was 15, 50 roommate, five 50 in rent. So I'm barely breaking even, maybe it's paying a little bit to live, but certainly a lot better than paying rent.    Jesse (3m 26s): Yeah, absolutely. It's not a, it's funny, it's very similar to, to my first investment and it was 248,000, something like that, but it was a somewhat similar to a host hack. I just saw a bunch of guys in, in college that were basically buying properties and renting out to us. And I was like, what's going on? I'm missing something here. So in terms of, in terms of how you progressed through real estate and just in general with the bigger pockets show, so you're in there, you start in bigger pockets at that time. Yeah. I mean, was, it was bigger pockets, the impetus for you to invest in real estate or did invest in investing in real estate, uncover bigger pockets for you?    Scott (4m 4s): I was a fan of the idea of real estate. So when I started my career in 2013 in August, and I wanted to invest in real estate, it probably around December of that year, January. So six months after I started working, I just ran into a very simple problem, which is I didn't have the down payment. So I just needed a few more months. And so I was listening to BiggerPockets while saving up that down payment for that first duplex house hack. And in the process, I was, I drank the Kool-Aid. I joined the cult, whatever you want to call it and became a huge fan. That's when I met Josh Dworkin through kind of a networking thing in, in, in Denver is a guy I was meeting to take to lunch, a local real estate event.    Josh and Brandon on the podcast told me, go meet local real estate investors in your local market. And that's how you can get into this. So I did, and I took one of them and I joined a, an entrepreneur group, a mastermind at seven o'clock on Thursday mornings and took each one of the guys in that mastermind group out to lunch. One of them happened to work in the same co-working space as Josh Orkin. And so I was like, oh my God, you're my hero. You changed my life. I'm doing all this stuff. I'm going to get my first house, like by the end of the year, which I did.    And that's how I met him. And he paid that turned into a job interview after me, pestering him a few more times,    Jesse (5m 16s): Right on. So I mean, a bunch of our listeners have either, you know, members of bigger pockets or have seen the community online for context. Cause I remember it back then. It is not anywhere near what it is today. What was that like being part of, part of that at such an early stage in its development?    Scott (5m 38s): Well, well, for me, what was it like being at an early stage? I mean, you did everything right? So we were, I was, I was learning as much as I possibly could about operations, about growth hacking, which is, you know, internet marketing, as much as I could about real estate investing. I was trying to as much time as I could in the forums and meeting people, meeting users, posting, building my own portfolio, all that kind of stuff. So I mean, my days would be, I would bike in to save money, of course, you know, show up at around eight and then work until five or six and then Josh would go home and then I would be allowed to write for the blog and my after hours.    So that was my day for a lot of these weeks is doing that kind of stuff. And, and you just learn everything. And gradually, I think I'm just kind of the type of person who's going to stick my hand up and volunteer for every opportunity, even if it kind of begins to get a little overwhelming. And so gradually I kind of did more and more of the work that maybe some other folks didn't want to do, like managing, you know, teams and, you know, dealing with the problems and the finances and the, you know, data and those kinds of things. And so I began to take over more and more of an operations capacity over time, but yeah, the early days were just really fun, lots of creative ideas, you just thought of something and did it, you know, created a lot of problems of like, we have all these little ideas that we thought of 15 years ago or seven years ago now, and they're not really well-maintained anymore.    We've got other parts of the site that exploded like the podcast and those kinds of things. And so there's a whole bunch of history here. I think that was created then. And, and, and in the time proceeding my arrival to the company. So it was, I think it was just really exciting, but there was a sentiment like this is inevitably going to be huge, this, this deck, because we're helping people and it's a cult. And, you know, you can see how much value that people are getting from this and their net worth and their wealth and their freedom is just constantly evolving. And we've got so many success stories and so many people who are doing all the right things and everyone's debating all of the, the nuances of this and really intelligent and exciting way that is just, you don't see anywhere else.    And so that was, you know, that, that was, I think the sentiment or how I felt at the time about it at least.    Jesse (7m 53s): Yeah. It's really cool to hear that, that feeling just the, you know, this is going to be something big for me. I had somebody on the podcast a few weeks ago and for myself, just based in Toronto, I would say about 60% of the listeners are US-based the balance. I would say the majority of the balance are, are Canadians. And then, you know, a few over the pond here and there, but somebody was on the show talking about resources. And I was like, you know, if you're not using the, you know, key words, Canada, us cross border, like just things like that, where you can actually get into articles where people are talking about something so specific to what you're talking about, that you, anywhere else on the internet, even if you type in Reddit or forums, you don't get that same level of granularity that you do with bigger pockets.    Scott (8m 37s): Yeah. I think that's what makes the company special is as you get this nuance, there, there are people making money in every type of real estate and directly disagreeing with each other about the right way to make that, that money. Should you allow pets in your enter and your rentals? Heck no. Heck yes. Right. Like AB I only, I only read the pets. Yeah. Yeah. Like the pet, you know, I bought the I'm on the side of definitely allow the pets that increases your applicant pool and you get way more qualified applicants for that. But, but you know that that's a nuance that's debated heavily on a lot of these things, right.    The 1% rule, you know, like all of these different topics are, I think you can get that nuance and you can get it locally, which I think is pretty cool.    Jesse (9m 17s): Hmm. So how was it for you from, you know, 2014 up till today? So you're, you're doing operations, you're, you're kind of dealing with this real estate startup. What is your investing career looking at? Looking like during that time and, and how was that navigating, you know, the day job with, with investing as well?    Scott (9m 37s): Yeah, so I, I took a little bit different approach than say, Brandon did, Brandon Vernon is now doing incredible stuff with these, these mobile home parks and all that kind of stuff. But at the time he was buying kind of like 40, $50,000 units in rural Washington and that kind of stuff. And that was how he was building his portfolio. And, you know, the properties I'm purchasing here in Denver, one unit might be $300,000, right. And so it's a completely different price point and different type of investing. And so my, my activity set with real estate investing has been much less intense than maybe some other investors or maybe like Brandon Turner's, for example, because I've been buying, you know, about a duplex, then I got another duplex.    Then I got a quad Plex. Now I'm buying my fourth property in seven years, which is another duplex. And the asset value across this is going to be close to like $3 million across those 10 units. And, you know, that's, there's a different appreciation, potential and rent inflation and that kind of stuff that's been going on. And my goal, my philosophy is I'm going to buy slow and steady once every year, once every 18 months, that kind of range and just pile up the portfolio over 50 years and through the ups and downs of the market, I think I'm going to benefit from Denver rent and price appreciation in a way that will really carry a lot of my portfolio.    So it's a little bit more of a passive approach. It's not a get rich quick, but it has produced incredible results for me so far with us. And, you know, really allows me to spend most of my attention on my job here at BiggerPockets. So I also invest in some syndications and I dumped a lot of money into index funds. So I've got rentals, index funds, BiggerPockets, you got the portfolio there.    Jesse (11m 23s): So for, for investing, I mean, that's not dissimilar to, you've heard, probably heard this on the podcast or in the forums where everything right now, every market that's a downtown market is incredibly hot and it's very hard to, to break in to different markets in terms of the way you're investing. It sounds like you're basically, you're not jumping on anything. If you find something that makes sense and it works, then you'll potentially invest in it in terms of how you're purchasing these, that you mentioned, you invest in some syndications, but for your core real estate, is that stuff that you typically do on your own, you partner with, what does that look like?    Scott (11m 57s): Yeah, so I, I partner on those deals with a business partner here in Denver and we kind of, it's a, it's a great relationship. We've been friends for a long time and we kind of both jointly manage things as we're, as we're able to, we have a property manager as well now with that. And yeah, I mean, we just kind of handle those problems as they come up right. On    Jesse (12m 18s): One thing I've, I've at least seen just having people on the podcast where, you know, I've mentioned either before or after the show, we'll mention bigger pockets. And if they're larger podcasts, you know, I've had people be like, you know, I, I don't want to mention them. They're they're competitive hours. So, and if the first time I'd be like, first time, I felt like our community I've always felt it's been extremely inclusive, but the reason I bring it up is I'm curious to task you. What, what do you, what have been some of the challenges that you've had as you grow as you grew from a smaller company to a pretty dominant real estate company in your space?    I, you, you know, the metrics probably better than anybody, but just at the level you're at would have been some of the biggest challenges getting to the space that you're at or, or while you're here.    Scott (13m 2s): I think it's really defining who we are and who we want to be when you grow up as a business, I think is really the big challenge. I think we've done a really good job of, of building I think a great brand. I think we've got, I think we've genuinely helped. A lot of people get started and build their, their, their real estate portfolios and all that kind of stuff. And I think it's, it's, what's, what's next here. How do we more formalize this and professionalize it? Because I think what you get with bigger pockets is a choose your own adventure free for all deep dive into the world of real estate investing.    And that's great for a lot of people, but it's maybe not what some people want where they want more of like a here's what to do. You know, here are the options you pick one, here are the pros and cons and, and go with it. Right. And I think that there's a big market of people out there. Like what, what does the user of bigger pockets do? Right? What they do is they spend 500 hours, literally listening to podcasts, reading books, engaging in our forums and Facebook groups following that are our hosts and guests and bigger pockets on Instagram, joining, you know, joining the community.    And then, and then a moment comes when you want to buy real estate. Okay. I'm ready to put that investment of hundreds of hours of work into actually transacting on my first, your next property with that. And I think that's the challenge is, is that is not for everyone. There's a certain component of, of folks out there who like that and want to do that. But that, that in-depth dive, I think is not really for as many people. And, and so how do we kind of help those people invest in something more passive or succeed without having to commit to that huge learning curve there that I think it, I think it does take to be a successful, you know, owner operator of a real estate business.    Jesse (14m 59s): Yeah, for sure. It's almost like multiple funnels. Like, you know, where, where is it, like you said, choose your own adventure. Because I think with one of the things I've always admired about brand and with the podcast with Josh and Brandon and something I've tried to do with this podcast is, you know, somebody says a term and you don't necessarily know, like you said, host hacking early, and then you kind of described it where, you know, somebody says something that your listener base may not know that he would always be very quick to be like, okay, this, can you define that? And that's great.    But to a certain extent, once you get to a point where there's a level of sophistication that you're talking about, you know, I don't know, like a waterfall structures for limited partnerships, it'd be very challenging to have that podcast or that show with having to explain every single thing. So I can only imagine for bigger pockets that, you know, multiply that by X and in that, that complexity. Yeah.    Scott (15m 52s): Well that, yeah, that's, that's the big challenge, right? And so how do you, you know, on, if you come to the BiggerPockets website, I can, I can create an experience there based on your information that drives you towards those goals. But the challenge is that the website is like one tiny corner of the bigger pockets experience, right? Because it's no bigger or smaller and a lot of ways than our podcast, our YouTube channel, our Facebook groups, our Instagram, you know, other parts of the book publishing business, you know, it's, and so that's one corner of the, the BP universe.    And so what we've decided to do is to begin building what we call sub brands of bigger pockets. And so that's where we have bigger pockets, money, and real estate rookie. And we're hoping to launch one more over the course of 20, 21. I'm still debating a couple of things, but I think there's a place for more advanced investors. And what, what the current approach has done is the personal finance piece and the rookie piece allow our core real estate, the bigger pockets, real estate podcast, to go a little bit more advanced and move away from that to a certain extent and get into some of that bigger business mindset there.    So in our new investors, our rookies can really learn about, you know, what cashflow is and how to analyze the deal and the basics of that on the rookie podcast. And so that's kind of been the idea. We think there's still yet another level of advanced discussion that could be had in another corner. So that that's kind of the highest level framework. We see a world where if you come into bigger pockets, you join in there in the real estate rookie universe. And that's how you get your first deal. And you're surrounded by peers, but led by experts with that, with, with our, our hosts and guests and those types of types of things.    And then over time, you move into the business building phase or the, the investing phase on our core, bigger pockets platform. And then maybe at a future date, you move into a advanced situation. Maybe if you're a professional flipper or professional syndicator, or you're an accredited investor and invest passively, there's a place to learn how to, how to do that and that all y'all and make sure that you're, you're doing a good job with the money and all that kind of stuff.    Jesse (18m 2s): Yeah. That's a great point. You mentioned the, the book publishing side of it. I I've always wanted to ask, you know, one of the members of the team, how did that, how did that start? Because you, you you've kind of teamed up with, with subject matter experts. And the first time I ever saw that, I don't, I can't remember which, you know, which individual it was, but, you know, it was bigger pockets as, as part of, so is that first of all, how did that, how did that begin? And secondly, is the, is it self-published or published by bigger pockets?    Like the entity bigger pockets?    Scott (18m 34s): Well, mechanically we have a wholly owned LLC called BiggerPockets publishing. So it's published by BiggerPockets publishing. So how did the book business come about? I think it, before I got to bigger pockets, Jay Scott had written the book on flipping houses and the book on estimating rehab costs. And, you know, I think it would be fair to say that I really pushed the publishing side of the business as a big opportunity for us with this brand and published the book on investing in real estate with no money down next.    And everyone was debating what we should write next. And I was like, how about the book on rental property investing that one? Right. And so, so we have a, a long standing tradition now of launching books, largely with very obvious titles, I could call them SEO titles. That was not, I don't know if that was the intent at first, but we were just like the fuck that rental property investor let's look at flipping houses, the book and estimating rehab costs, book and investing in real estate with no one looking low money down, buy rehab, rent, refinance, repeat, you know, and so that's, that's kind of our fleet there that has kind of transformed over time.    We found that people love the books. We have a really high, and, you know, you can judge whether your product is doing well in the mind of the consumer by what's called an NPS score. So that's a net promoter score, and you can think of this more or less along the lines of a star rating on Amazon, five stars. People love it. Four stars. People are neutral three and below people are detractors. And our books really, really seem to have high ratings, high NPS scores among the, among our customers with that. Because I think that they're a low cost way to really digest a lot of information.    And I think our publishing team is super consistent about finding a, a true expert. Somebody, you know, we'll talk about Jay Scott here. I know you just, you just interviewed him right before me, I think earlier today, actually. Right. You know, Jay, I can't gush enough about Jay Jay's. Jay Scott joined BiggerPockets. I don't know, 15 years ago, 16 years ago, he posted 17, 18,000 times to our forums over the course of that period, he completed 150 fix and flip projects, right? Maybe the guy is playing some underhanded game with no way.    Jay Scott is a genuine human who's proved his reputation over and over and over again, who has debated the nuance of every point. That every problem that you can conceivably come up with across 17,000 online discussions, God only knows how many other discussions he's had with people on an individual basis. And the guy can write, and he runs a successful business and has a track record for it. What, how can you find a better author than that? And that I think is a reflection on Jay Scott's character and expertise, but also a reflection of the power of BiggerPockets is we can find that person who is not just, you know, a recent just came out of nowhere, kind of person who, who knows what's gonna happen.    We can find people who have really embraced our values and, you know, seen success and like to help people and understand the problems that folks. And they're the ones who are kind of writing a lot of our, our books and content. So that's been a really powerful draw for us. People who are interviewing people day in and day out in the podcast. You get to know the challenges of that.    Jesse (21m 45s): No know Scott, it might be the long con with, with Jay.    Scott (21m 48s): Yeah, that's right. Well, if he doesn't listen to this, sorry, Jay.    Jesse (21m 53s): It was funny. He, he mentioned because we said we were talking about BB cotton, Nashville. The, so I, you know, I thought I assumed it was the official first one. And he's like, nah, it was the officially was, I spoke at the one in 2012 when there was four of us. But yeah, it was like, I don't know where there was one back then. So, you know, one thing I like, I'm curious, I think anybody in our space is curious that there gets a point where you put out content and you're trying to figure out if there is a way to monetize this content. And you know, one thing for me, I've been really fortunate to be a contributor for bigger pockets on the commercial real estate side.    I learned so much just, you know, doing, even though I live in the space of commercial real estate, I learned so much by putting that information out there. And I'll tell you the first time you have, you know, 70,000 views on something, and you're looking at comments, you start sharpening your pencil really quickly and try to make sure you know, what you're talking about. So it's been really beneficial from that point of view. But when you start putting out content and you start trying to figure out where is the monetization, and I find with, you know, we're not selling a product, we're not selling a, you know, mugs where you see a lot of people in our space go the coaching route or go into the, you know, substantative relationship.    And then they invest eventually with, with the company, is that, are you trying to fire on all cylinders? Are you trying to, are you picking certain avenues? And just on the idea of coaching will, will bigger pockets grow to a point where it's kind of like a rich dad, poor dad, where you have a brand, you have somebody that has, you know, drunk the Kool-Aid and they are, you know, the, the evangelists for BiggerPockets.    Scott (23m 30s): You know, I think, I think you begin to lose competitive advantage if you move in that direction. Right? So here's how I think about, you know, because one of my jobs is to make money for the, for our shareholders, right? That's, that's a goal for every CEO, right? With here's how I think about it. The moment that we deliver value to our customer is the moment that they transact on an investment property that they believe and have good reason to believe is likely to advance their financial position.    And my, my belief is that our business, we are in the business of helping people dive in, but then ultimately take action in buying real estate and they need to do it healthfully. As part of that transaction, there are four stakeholders who make a lot of money. One is the real estate agent. The second is the lender. The third is the insurance provider and the fourth is the property manager. And these are the people, the core four that, you know, a lot of investors need, right?    I guess a contractor instead of the insurance broker, but I will get to contractors later. I believe that it is very hard to find an investor friendly real estate agent right now. W where do you go to look for that? And I think we've got a lot of agents who would love to do business with BiggerPockets investors and a lot of investors who do not want a referral from their mom or their brother or their best friend. They want an investor friendly real estate agent. So I think, you know, what, what we've built and we've already launched in 10 markets and things are off to the races with this is a marketplace that you can go to biggerpockets.com/agents and find really high quality investor friendly agents.    Many of whom have grown up through bigger pockets and post a million times on our forums. Many of whom we've, you know, there's, there's more folks that are entering the game and trying to prove themselves as investor-friendly agents. And we can match folks with that. And I think that's a really big opportunity for us, if we can help people connect, get ready. And when they're ready after the time that they spend to, to, to, to learn about this, actually move down the steps toward the transaction and connect with an agent and a lender and that kind of stuff.    I think there'll be plenty of opportunity to make money in that process. As long as we do a good job, making sure that you're actually getting a good professional with that    Jesse (25m 47s): On that note, because you know, my world is in commercial brokerage, those type of realtors or agents that you're connecting, are they in the commercial space and more in the single family multifamily, where do they, where do they lie on the, in that world?    Scott (26m 4s): Well, I think you bring up a good point, the bigger pockets we, you know, the, the market that we're most heavily concentrated, we have a forum and community that can talk about every conceivable aspect of real estate investing. But I would say the majority of our users are going to be folks that are buying single families, duplexes, triplexes, and quads, a minority 10% have a great discussion about buying larger properties with, with those types of things. But the majority of our, of our users are doing that.    And 90% of single family rental properties in this country are owned by investors with 10 or fewer units. And 50% are owned by investors with just one or two units. So that is really kind of like the user of bigger pockets. Now, the folks that you interact with and you have on your podcast completely different profile than the average investor, right. But the, the typical person is, is fitting the description that I'm I'm describing here. The guy who likes to talk about real estate all day long is going to have a different profile than that, right. Is that that's where the voltage is more prominent anyways.    So what were you asking about?    Jesse (27m 12s): Basically, it sounds like that is the space it's it's the, the singles to quads is where you're connecting those types of agents where we're now for me, the reason I asked that is because when I was younger or sorry, earlier in my career, when I was in single family or student rental, it was really challenging finding the, see the link between residential broker commercial broker, and then in the middle there there's this investor centric broker that will do deals like you're discussing.    Scott (27m 41s): Yes. And we think that's the opportunity for us to in the next, you know, year or so to really solve a lot of problems. I would love to also do a marketplace for the more serious commercial brokers who are brokering apartment complexes. But I think we got to bite off one thing at a time as a business and, and concentrate our focus on the biggest challenge facing the majority of our users, which I think is transacting on single family, duplex, triplex quadplex long-term rental investments.    And one of the biggest things we can do to help them with that is help them find an investor friendly agent instead of an agent where they're going to have to figure out and drive all that process.    Jesse (28m 19s): Yeah. Well, I mean, you would have the data there. So I mean, if that, if that is the majority of, of the individuals, that just, that makes sense. And I think like from, I think there's a misnomer, or there's just a misunderstanding of, it's not the commercial brokers, aren't, don't want to do deals with, with a variety of different people. It's it's that ultimately, without getting into the granularity of it, it's the, the fee split or the, the commission split structure is just it's, it's, it's in such a way that doing deals less than 5 million, 3 million, it just, it becomes something where it's, you can't wait.    It literally is a waste of time that you can't spend your time doing that. And that's why they're, you know, there is a great place. I know in most major markets between 1 million and $5 million deals, that is a really great spot that I think a lot of agents aren't capturing and are starting to make that their niche of, of what they focus in.    Scott (29m 14s): And I'll bring you down just one more level from there, a single family rental home costs the same as a single family home, right. More or less than that. But, but the, the, the realtors and the agents, the local agents who are helping investors do that, do not understand things like the 1% rule or a cash and cash return, or the fact that, Hey, I care if it's a good school district, but that's like a fourth or fifth or seventh bullet point for me after the rent to price ratio that this property can command the longterm.    Other long-term factors around appreciation, whether it has amenities that are going to be that the tenants are going to like whether I can convert that office into another bedroom, those types of things. That is the level. Those are the, the, the more, I guess, accessible things that we're, we're, we're building, we're building a marketplace for investors to meet agents who can help them transact on residential real estate. 1, 2, 3, and four unit properties, probably in most cases, less than a million dollars, but in some cases they'll get, they'll get to that, that value    Jesse (30m 21s): Right on, well, we can talk in new Orleans, we can talk about some ideas to get those commercial and monetize those commercial brokers. I think from that point of view, it's really going to be on the listing side. Everybody has a buyer listings are where it's at. I want to be respectful of your, of your time here. I'm really curious to know about how you spun off the original podcast to the money podcasts. I I've, I've listened only admittedly to a few episodes, but it seems like there was a pivot to basically get the ideas of that were already ingrained in the initial podcast, financial freedom, money, personal finance, and move it in that direction.    Can you talk a little bit about how that process took place?    Scott (31m 2s): Yeah, sure. So, so the mission of bigger pockets and emission I share is how you enable financial freedom for as many people as possible as early in life as possible, because that is how you unlock human potential. And my belief is that there's a lot of people who want to invest in real estate, but just don't have a financial position capable of responsibly sustaining real estate investment. And this can be anybody from having debt and needing to rebuild their position to we've had millionaires on the podcast who have no wealth outside of their primary residence and their retirement accounts, $10,000 in cash and nothing else.    And they're not in position to invest either. And so the point of the money show is to help folks move toward financial freedom and a financial position, a strategy with their money that allows them to make on a repeated basis investments in assets like real estate and other businesses on a regular basis with that. So it's a, it's a very different bent on personal finance with that. And we've talked, we talked a lot of people, we have two major SEG well, so that's the reason for the show is to, is to really bring in the personal finance aspect of this and say, here's how real estate investors build a position capable of sustaining real estate investment investing and how they move toward financial freedom with that as part of their portfolio.    Jesse (32m 21s): Yeah, it's a, you mentioned it earlier. It seems like there is that there is that real estate avatar that you do enough of these podcasts where you're listening to, you're listening to a lot of the same stuff. You're reading books like crazy. You're, you're digesting as much information as you can, but you start seeing the same, even on YouTube, you start seeing the same pop up. And then you're like, you know, I didn't expect BiggerPockets have this guest on. I saw him in some totally different, you know, field or, or podcasts, but it seems like there is that a specific individual that, you know, multiple Venn diagrams, I think we all share.    Scott (32m 55s): Yeah. I mean, like right now, bigger pockets is a real estate investing platform, right? That's our, that's our core focus, but in 20 years, maybe that begins to shift gradually over time because the goal is financial freedom right now is financial freedom through real estate. But how do you just make that more accessible to more people? Cause that's, that's how you unlock. Like I said, human potential in ways that you can't predict those people who become millionaires in their thirties or forties, go on to start businesses, change the world, all that kind of stuff. And real estate is the nominal tool for a lot of people, but especially people making between 50 and $200,000 a year, when you make less than that, you can't really get to the starting point in real estate responsible.    You're going to take, you're going to take some big risks, you know, likely unless you, unless you're a really good saver for example, and you can make much more than that. You're probably not going to put in the 500 hours that I articulated before, because you'd be better spent just earning that money and dumping it into something more passive for like, you know, a syndication or something rather than buying the, the, the duplex. So you've got that sweet spot, but there's a whole bunch of opportunities for lots of billions of folks in that category who don't want to do real estate and other folks out there who want to achieve financial freedom through other means.    Jesse (34m 7s): Yeah, no, that's a really good point. The a 50 to 200 interesting to think about it that way for the future here, we're going to come up to a few questions. We ask every guest, but before we do Scott 20 21, 20 22, I think we talked a little bit before the show. It's been a insane last 18 months, it's it hasn't been easy for a lot of individuals, a lot of companies from a positive note, what do you see for opportunities down the line? You know, what is 20 21, 20 22 look like for yourself and the team?    Scott (34m 41s): Oh, for myself and the team. I think we're going to, I think we're going to be able to really create a world-class network of investor-friendly real estate agents, and maybe also investor-friendly lenders who understand the different types of loan products that you need for a duplex triplex or single family rental investment, those types of folks. I think we'll be able to build that those marketplaces. I think we are going to, I try to launch another podcast perhaps in that syndication space.    I want to let the team beat me up on that. We're not sure if we're actually going to do that quite yet, but that's, that's something that we're, we're noodling on. We have our conference coming up October and we've got a couple of good books lined up that we'll be releasing in the next 12 months as well. So I think we've got a lot of exciting stuff in the pipeline for bigger pockets over the next year. Awesome    Jesse (35m 32s): Man. Excited for it. All right. I got four for ya. Rapid fire. If, if you're ready to I'll, I'll sell them over. Let's do it. All right. Scott, first question, something that you know now in your career with bigger pockets that you wish you knew when you started out there,    Scott (35m 50s): You know, I, I'm going to get, answer your question very generally. I think there's a ton of mental models that a CEO needs to have around what good looks like looks like, especially from senior executives, whether that's finance, technology, marketing, HR, those types of things. And, you know, I don't know if there's a way I could've gone back and given them to myself, but developing those as the core responsibility of a CEO. And I think that's been the biggest challenge for me is understanding what are the essential outputs? How do I articulate them? How do I performance manage against those    Jesse (36m 21s): On that point of development? Again, it's, it's great to have you in this seat because it's something I asked a lot of people, and I think you see it from a, from a closer point of view, your view on mentorship for younger people that are getting into our industry or any industry for that matter. What would you say on that point? And maybe just with the added piece of what to watch out for what to be careful for, because I mean, you, you see it all on the, on the forum as    Scott (36m 50s): A hiring manager, as a men, as looking for a minute. Sure.    Jesse (36m 53s): I think for people in a real estate, trying to get in to the industry, your view on mentorship and, and you know, what will you would recommend or, or w what's been beneficial?    Scott (37m 3s): I think the informal mentorship is a really good approach. Like you're not looking if you're paying a lot of money for the mentorship, you better know what good looks like. And you know, here, here's a good framework. If, if you, you know, that you're probably getting on the right track to and begin investing, when you can meet with 10 investors who all outwardly appear successful and say, these two are really sharp. These guys are, are four formulaic, and these two are successful. They're really gonna they're, they're, they're really doing something crazy here. I don't understand it, or they're not doing it.    It doesn't make any sense or they don't seem smart to me. So I think when you can begin meeting with people that outwardly see more advanced than you, and kind of pick out the nuance in their approach, you're probably onto something there. And that might help you begin to spot that mentor. If you do want to engage in something more formal. Awesome.    Jesse (37m 53s): What is one resource? It can be a book podcasts that you are listening to right now that you would recommend to listeners. And I'll just put the caveat out also with this one, I'll give you one from BiggerPockets and then a, and then one outside of your space.    Scott (38m 9s): Yeah. I always, by default have the bigger pockets things. I almost never reference them. Cause I feel like that'd be a shameless plug. No, I I'm listening to good strategy, bad strategy right now. And I think that's a fantastic book. I I'm listening. I'm halfway through it and I can't remember the author's name, but    Jesse (38m 25s): We'll put it in the show notes. Good strategy. Bad strategy.    Scott (38m 29s): Yep. Richard Rumelt. Yeah.    Jesse (38m 34s): All right. Well, wasn't Scott. It's been a, it's been a real pleasure. Thank you for, for spending the time here for those out there. I say this all the time. Everything's a Google search away, but for those that want to reach out, connect, be part of this community, or just learn more, where can, where can they go?    Scott (38m 52s): You can find me on BiggerPockets. You can just search in the nav bar there. And my name will come up or you can email me@scottatbiggerpockets.com. You can find me on Instagram at, at Scott underscore    Speaker 2 (39m 2s): Trench. My guest    Jesse (39m 4s): Today has been Scott trench. Scott, thanks for being part of working capital.    Speaker 2 (39m 9s): Thank you for having me.     Jesse (39m 17s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you like the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care. 

You may have heard the term “real estate syndication” thrown out quite a lot over the past few years. It seems like almost every real estate investor is either starting a real estate syndication or investing in one. So what's all the hype about? Is this an investment opportunity that you're missing out on, and if so, is it truly passive as many people claim?We've brought the master flipper, rehab estimator, and syndicator himself, J Scott, back to the BiggerPockets Money Podcast so he can share some information (and advice) on real estate syndications. J walks through a handful of points worth examining before investing in syndications. We talk about what a real estate syndication is, where to find syndications, how to validate the syndicators themselves, what a limited partner is, what a general partner is, and more.The most valuable part of this entire episode is about researching the syndication deal itself. Where is it located, what is the structure, who's running it? These are all questions you should ask, along with some other key questions like:What is the team's track record, reputation, experience?What is the location, risks, population size, employment, wage growth?On the deal, what do the returns look like, what are the big risks?Do they have an investor presentation?What's the minimum investment?Are there capital calls? How do they deal with capital calls? Have they required capital calls in the past?What are their accreditation requirements?Can you get better terms in exchange for a larger investment?How frequent are the distributions? Quarterly, monthly, yearly?When will distributions start? Will they be doing a cost segregation study?What fees are they receiving?When will they give updates? Monthly, quarterly?Can you invest using a 1031 or an IRA?In This Episode We CoverWhat is a real estate syndication and who qualifies to invest in one?What an accredited investor is and the qualifications behind it?Where can you find syndicators?Whether or not investors have liability if a deal goes badCap rates, NOI, and valuations on large dealsHow to research a syndication dealSyndications vs. funds vs. REITsWhat happens if a syndication runs out of money?And So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Three months out of college, Scott Trench joined a Fortune 500 Company and becomes obsessed with the concept of Financial Independence. He networked with other real estate investors and finally made his way into BiggerPockets as its 3rd employee.Since joining BiggerPockets in 2014, Scott has authored the wealth-building book Set for Life and joined Mindy Jenson as a host of the BiggerPockets Money Podcast. He stays active in the BiggerPockets forums and contributed hundreds of articles, market analyses, and files to BiggerPockets. He has also contributed to other personal finance blogs, along with traditional news outlets including Time, CNBC, and NBC.A spiring individual who strives to help ordinary Americans build wealth in part through real estate investing. Personally, his goals were financial freedom and long-term wealth. He believes that those two were the combination to get over the difficulties in building a brighter future for oneself. Scott's Book Recommendations:The Psychology of Money by Morgan HouselThe Millionaire Next Door: The Surprising Secrets of America's WealthyPodcast Episode 60Show sponsors: Rentometer - Rentometer lets you analyze rent on your property!RentRedi - Manage your property with this property management software. Use code "SUCCESS" to get 50% off!!Instagram:@scott_trenchBiggerPocketsInstagram:@househackingsuccesshousehackingsuccess.comClick here to download our FREE eBookThe House Hacking Success Course

Mindy Jensen from BiggerPockets joins us to share personal finance and self-management tips, strategy considerations, side hustle ideas, and what it is like to be a female investor in a historically male-dominated industry.    --- Transcript Michael: Hey everyone. Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by my co host,   Tom: Tom Schneider.   Michael: Mindy Jensen from BiggerPockets is joining us today. And she's going to be talking to us today about some personal finance tips for those of us who are just getting started, as well as what is it like to be a female investor in this space, and some tips and tricks and takeaways for all of our listeners. So let's jump into it.   So Mindy Jensen, thank you so much for taking the time to hang out with us today. I was telling you before we start recording, I am a total fanboy. I'm all giggly today. So thank you, again, for hanging out with us.   Mindy: Well, thank you for having me. I love talking about real estate.   Michael: Awesome. Well, you are in the perfect place to do so. So I know all about you, because I'm a big fan of your podcast, the BiggerPockets Money Podcast that you and Scott host. But for all of our listeners that might not be familiar with you can you give us a little bit of background on kind of who you are, where you're from, and then how you got your start with real estate?   Mindy I was born in a small town in Southern Illinois. And then I moved and moved and moved and moved and moved and moved and moved and moved. And I'm in my 28th or 29th house now, which is actually really relevant to the story. It sounds like a boring, I was born in a small town. And I have never lived in a house for more than six years in my whole life. And I just sold that house that I lived in for six years in January. So it's been like, we move all the time.   And that is really key to my preferred method of investing in real estate, which is called the live & flip, you buy a very unattractive house, you move into it as your primary residence, you fix it up while you're living there. If you live there for at least two years as your primary residence, it is tax free growth, when you sell it, you pay no taxes up to $250,000. If you're single, and up to $500,000, if you're married, I now have a new goal to actually pay capital gains taxes on my flip, I want to get to the point where I have to pay because I've made so much money, which is a very real possibility given our current market, the fact that I got this for a steel and a half, and we're doing a lot of work to it.   But in general, I live in flip. I love real estate. I love talking about real estate. And yeah, I'm a mom of two girls and I live in Colorado.   Tom: Awesome. I love the live in flip strategy. I think I would like you know, with these types of strategies, you know, you have to be very much on the same page as your partner so and I don't think it would fly as much but I'm curious in you know doing this strategy like how big of a renovation Have you done with a live in flip flip Have you done like, you know, like basically camping in in in studs, the ground? Or do you like have some sort of limitation on how big of a project it is?   Mindy: I have limitations now sold this is it's actually a really, really great example of like how big you can go, I have popped the top twice on houses. That means adding a second story, I will never do that again. Because I'm too old for that garbage. It is a lot of work. And when we were popping the top on our most recent house, my youngest was three years old, my oldest was six years old. We at one point had the washer and dryer in the kitchen with holes dug into the kitchen tile floor, which was gross anyway, we're gonna change it anyway.   We we drilled holes in the floor so we could put the out pipes and the water supply pipes into the crawlspace. And the rest of the house was walled off, or it was plastic tarped off because we were building the the addition and the second story.   So in the cold of Colorado, that's really not fun. And we were sleeping in a bedroom with our two children. And my father in law was sleeping in the other bedroom because he's an electrician, and he was helping us rewire the house. We took it from 60 amp service to 200 amp service and basically just rewired the whole thing. When you take it to the studs you can do that. So it was a big undertaking. We there's not a wall in that house that we didn't touch. But why would somebody choose to do this?   Well, I bought it for $176,000 I sold it for $598,000 and I put about $100,000 into it so you do it for the money.   Michael: Wow.   Tom: That's incredible. And the two years so the the tax.   Mindy: This match tax. I guess one more? Yeah, zero. It's incredible. My other specific to the live in strategy, or do you think back on some of the houses on the ones that got away like Oh man, I wish I was still in that? Or is the upside of kind of going through the process and getting those rewards does that, you know, just kind of smooth it over. You're like okay, I'm excited to be on the next one, you know, or do you ever like kind of fall in love I guess and you know, what's the name of the show? Love it or list it you know?   Mindy: Oh Always list it, always list it. And this is actually so I am a real estate agent. And I don't understand the concept of falling in love with the house. There's what is there like 40 million houses in America or something that houses in America, there isn't just one perfect house for you.   Michael: Yeah, totally legit.   Mindy: There's not just one perfect house, there's always going to be another house, that's going to be great for you. So I have never fallen in love with a house. We did have one house that we brought our two children home from the hospital and after they were born, that's really sweet. But the taxes on that house when I sold it for $17,000 a year. Oh, Wisconsin, super high tax bracket. So that I don't miss that at all. I mean, my, my current mortgage payment was my monthly tax only payment on that house. That's ridiculous.   Michael: That's crazy. I think that the saying goes the deal of a lifetime only comes around about once a week. So there I couldn't agree with you more Mindy.   Mindy: You know what the house that I just told I pointed to where it is, it's it's on the other side of town, that house that I just sold was the deal of a lifetime, but the one I'm sitting in now is going to be even more the deal of the lifetime. So yeah, you can find a good deal anywhere.   Michael: So I really want to dig in to two specific topics with you today, because I know that you're an expert in both. One, I would love to get some personal finance tips from you, for folks that are just starting their real estate investing journey I live in flip could absolutely be one of them. And then I also want to talk to you about what it's like being a female investor in the space. And I know that you've got experience again in both those areas. So if I am just starting out, and…   Mindy: I do I have like a lifelong experience, lifelong experience as a woman. So just starting out in real estate, buy low and sell high is kind of the the Pat answer. But really, if you are looking to get started investing in real estate, you need to be educated, you need to know what it is that you're going to do with your investment.   And it seems so easy to be a landlord. But there's a lot of things that you need to know if you want to be a landlord. And if you don't know those things, you are going to mess up and you are going to lose money. And you are going to, in some cases hate your life. I know when you don't know that you should screen a tenant. And you don't know that a 400 credit score is not indicative of a person who is going to be paying you on time every month, you might rent out to somebody who has a 400 credit score, you didn't know because you didn't even run it and you let them move into your house. And they trashed it because they are bad tenants. And you didn't know that because you didn't call it their past landlords and you know, their kids wreck the house and you didn't know they had kids because you didn't screen them.   There's, there's a lot of things and not that you shouldn't rent to people who don't have kids. I'm not advocating against fair housing laws, you need to know who's living in the house. And when you rent it to Michael and Michael doesn't have doesn't say, hey, I've got 17 kids, you know, you come into occupancy, you had a bit against occupancy issues. And you know, or Michael brings his brother Tom, and Tom brings his friend Joe, and then there's 76 people living in your house and you're like, wait, why is it trashed?   I'm not surprised at all. So, if you want to invest in any type of asset class, you need to do your research and if you cannot explain how you are going to invest and and how somebody should be investing in that particular asset class, you should not be investing in that asset class. I'm not in but Bitcoin. I'm not in crypto because I don't understand it. And this is not an invitation to send me an email to explain it to me. I don't want to know.   Tom: Michael's a big, big ferret guy, I wouldn't rent to him because, like,   Michael: Tom!   Tom: It's cute, he's taught them to do these tricks that he showed us, but big…   Michael: Tom, time out. It's chinchillas.   Tom: I think we segued…  Michael, I think we're okay. Chinchillas apologies.   Mindy: I'm gonna jump in here and say, OMG , I would never read to somebody who had ferrets because ferrets stink.   Tom: Michael apparently likes it. Sorry chinchillas.   But okay, getting back on the rails. Mindy, you know what I love my like takeaway from what you're talking about is just having your eyes wide open of like going into risk. I think like with any type of investment that you're doing it be it crypto real estate. Successful investors, they are cognizant and intentional about the risks that they're taking, be it who you're renting to be it the property condition and like what your capacity is, so just love that as like a takeaway on this episode of of intention with risk and eyes wide open in education and filling that gap.   Mindy: Well, that was a better way to say it.   Michael: No I prefer the 76 circus family.   Mindy, a question for you kind of in that same vein. And so we have the education side of things at the Rootstock Academy and I love that you brought up education totally unprompted. I just want everybody to know that we didn't prompt Mindy with that. But how do you draw the line between getting educated, and knowing when enough is enough to then jump in or dip your toes because I know that's something that I struggled with, I spent about two years self educating before ever doing a real estate deal. And even I'm still learning and I was 10 years ago, I'm still learning every single day. So how do you feel like you're you have enough to be dangerous to then go do something with without getting analysis paralysis?   Mindy: Well, started young is really great. Because when you start young, you feel like you know everything, and you don't feel like you need to do all the research. And that's how I got started. I just knew everything when I was 26 years old.   I do like that you said, you know, analysis paralysis. And at one point, do you do you stop educating? You need to be able to understand what you're doing? Hey, how do you invest in real estate? How do you rent out your house? Oh, you know, you just put it on Craigslist.   That's not enough information. You need to learn how you rent out a house. How do you screen a tenant? How do you buy a house? How do you collect rent, like there's a lot of things that you need to think about? Before you just buy a house and throw some people in it. You're providing housing for somebody, you're giving somebody a place to live, you need to know that it's a safe place to live. It's a habitable place to live. And you need to know that they're going to pay you rent.   I mean, once you can start explaining it to other people, I think you've done enough research. You'll always continue to learn, you will always continue to refine and hone in Hey, it turns out I don't want to rent to Mike that has 17 chinchillas. I want to read to Tom who has four little dogs because I know that big dogs cause disasters or I'm not going to rent to Tom anymore because his cats poo. That was not a pleasant experience.   And you know, you will always,  you will always continue to learn. Yeah, that's sometimes cat spray. But being involved in a community that continues to help each other out, is really the best way to go about it. I mean, BiggerPockets is a community of real estate investors helping other real estate investors learn how to do it explaining from experience that, you know, renting out to the chinchilla farm isn't the best choice. Or, you know, renting out to 17 guys who just turned 18 years old in your four bedroom house is probably not going to have the best results.   Yeah, and you're not discriminating, you're just being smart about your your applicants. But even how you find applicants is going to be something that you learn through asking other people.   Tom: Like synthesizing along with the education piece is like community is like such a huge piece about, you know, a really important aspect and feeling comfortable to make that jump, I think and Michael was was talking about just because investing in real estate can be difficult, right? You're right, you know, pop in the top and in Colorado in the winter, you know, having that community of people to one from the education standpoint, but to just as the either, you know, feedback loop or helping, you know, continuing to move forward. Kind of the combination of the two are is really important. And yeah, love BiggerPockets. This is a fantastic spot of that community aspect.   Mindy: Yeah, it's my favorite website on the whole planet.   Michael: I love that. You mentioned the community aspect of things. Because I think so many investors, especially those who are just starting out think that going from due diligence to then you're the first acquisition is that's it, I bought the property now I'm done. It's like, Well, no, now the work actually starts now you own the property. Now you really need that support for the ongoing stuff, not just from the due diligence acquisition.   Mindy: Yes, and this support is really important because sometimes there's not really much you can do. But having somebody to commiserate with is really helpful. But as you're in there talking to other investors, you pick up little tips. One of the best tips I ever picked up for screening tenants is to after they have seen your home, you walk them to their car, you just walk them out and you know, chat, whatever. But while you're at their car, you give it a little peek. Oh, look at that. I can't even see anything in there because there's garbage and wrappers up to the tops of the windows.   You don't want to rent to that person because they how they keep your their cars, how they're going to keep your house and you don't want to go into a completely trashed house. unless that's your thing.   Michael: And teach the road, no judgment, no judgment. I've heard of another similar tip of doing a FaceTime interview with prospective tenants and having them give you a tour around their current living situation.   Mindy: That's another really great tip, because then they're not really expecting to do a tour so you can see how they truly live. And this isn't to discriminate against people who might be slightly untidy, this is to prevent people who will not treat your property with respect from moving it.   Tom: Canary in the coal mine. One thing I love about these episodes is they're there, they can be very self serving. So I have a very self serving question for you. And this is, I guess, for broader people, or as well, if let's say I'm saving up for downpayment on the next acquisition to buy an investment property. What are your thoughts around like, where to hold that money? You know, or I'm going through a cash out refi and going to have a big chunk of change coming in them and to be using for these acquisitions? What do you think about holding it in a cash cash position versus putting it into an ETF or a CD? Or I'd love to hear your your thoughts on that. I mean, a lot, a lot, a lot there.   Mindy: A lot there. But it comes down to what is your risk tolerance, if you have just happen to have a big chunk of change from a cash out refi and you're looking for a property? How comfortable are you with that dollar amount dropping in value. So if you can't, if you need the $20,000 for your down payment, and you don't have a way to replenish that $20,000 easily, I wouldn't put it into an ETF, I wouldn't put it into the stock market at all, I would put it into a high yield savings account, which is only in air quotes, because they're currently at like point 5% or something.   You could maybe put it into bonds, I wouldn't bother with that. If it was not going to be a super long term play like two or three years. If you're going to get it in like three or four months, I would just put it in the cash account, your job is not to grow that, you aren't going to grow that in any significant way. You're not going to put it I mean, you could put it in Bitcoin and watch it go up super a lot. But did you see what happened with Bitcoin? This week? Wasn't it like? Didn't it drop like $30,000? or something? I don't I don't invest in bitcoins.   Tom: Crushed. Yeah, so I just put a very little amount and I've and I've lost, I've lost half of a very little amount.   Mindy: So how would you feel about your $20,000 that you put in Bitcoin because it's a sure thing, and then all of a sudden, now it's $10,000. And you're like, Oh, my money's gone. I don't like to lose $1. So I don't like to be really in really volatile things. I'm mostly in index funds, I have a few tech stocks, and you know, real estate, but I wouldn't put it into anything that that is volatile when you're looking to use it within the next two or three years. And even then, with two or three years, I'd be in like bonds, which are fairly safe, they're not even really growing that much. Your job is to protect the money.   Michael: That makes total sense. I guess that's a really great point in talking about like, your job is to protect that money and to go make that investment in the real estate. And don't worry about everything else. That's just noise if you're trying to grow it and grow it, but focus on the task at hand Don't get distracted. So no more Dogecoin betting Tom, enough is enough.   Tom: I know. And also just a point I want to clarify. Michael is not a ferret guy. I was being silly. Yeah, yeah. The guy didn't realize he clarify.   Michael: Yeah.   So Mindy, you've got some really great insight into a lot of folks his financial purview, I'll call it and so in terms of side hustles, when people are just starting out or looking to grow some additional cash positions to invest in real estate, what have you seen be really effective in terms of side hustles?   Mindy: There is this thing called a signing agent. And it is more towards the west coast of the country than the East Coast. It's four not attorney closing states but title company closing states and notary closing states, you are essentially walking somebody through the closing process and watching them as they sign their name on all the mortgage documents and all the closing papers.   And this is an amazing side hustle because you get to if you have attention to detail, and if you don't, don't even bother, but you get to read mortgage documents over and over and over and over. Again, you're reading the contracts, you're seeing all these things, it's a great way to learn about the process in general. And you make 150 $200 a closing, a closing takes what an hour, you can do those all throughout the day, if you have time during the day, when people are working is not when they need you, it's when people are off work. So nights and weekends.   If you're willing to work nights and weekends, you could make a good chunk of change. I've seen people making, you know, $2,000 a month, just on this little side hustle, and they're not even really spending that much time on it. The cost. The barrier to entry on this is a box of black ballpoint pens, a box of blue ballpoint pens, and a really good printer. And I think it has to be a laser jet, not an inkjet.   It's like a less than $1,000. And you have to be a notary. So you have to go through your state's notary process. I'm not one. So I don't know. I don't know all the process about it. But we talked to a guy who runs a school that that teaches people how to do this and teaches them how to get the jobs to be signing agents. And if you're really good, if you don't make mistakes, people will continue to request you because you're really good.   Tom: Gosh, I love that tip. I feel like I've seen so many like clickbait articles of like passive income. And this is like the one of the best ones I've ever, I've ever heard. I looked into the notary getting that I have a competition with a friend on who can get the most certifications. And this is one and it's not that I think it's like in the state of California where I live, it's like an afternoon of work. Or it's like a certain number of hours. And there might be a test and there's like a low oil, loyalty oath or something like that. So Mindy that's fantastic example of a great side hustle.   Mindy: I got another one. Let's hear it. Yeah. Okay, another attention to detail. I am a real estate agent, I also have a full time job. So I do not have time to double check and triple check all the things in my contract. After we're, you know, I write up the contract for my clients, we get under contract. There's a lot of dates and deadlines, a lot of dates and deadlines. I would just be crushed if I ever allowed my client to miss a date or deadline. And yes, the buyer should be aware of all the dates and deadlines, they should have that upfront. So they're not missing it either.   But I pay somebody who is called a transaction coordinator, I pay her to help me. Remember all the deadlines helped me keep all the deadlines helped me. She files my paperwork with my company so that I get paid, she submits it to the title company. So I get the check at closing. It's called the transaction coordinator, I pay her $400 per transaction. I did 15 transactions last year. And I'm not a busy agent. So you get in with a busy agent who's doing 40-50 transactions a year, you can make some big money.   And it's like an hour of work. It's probably not an hour of work. Maybe she spends, I don't know, five or six hours on my entire transaction from start to finish. She's got it down. I sent her the information. I introduce her to the clients, and then she just sends us an email. Hey, just reminder. I mean, I'm helping people buy $500,000 houses. I'm not going to let you miss a deadline. I would much rather pay $400 to somebody who double checks that I'm not missing deadlines.   Michael: That's such a good tip.   Tom: How would you market yourself as a transaction coordinator in like getting that type of business? I'd love it. Yeah. Just reaching out to agents?   Mindy: Yeah, I would absolutely reach out to agents go to every agency in the city and just say, Hey, I'm an agent, or I'm a transaction coordinator. I'll do your first transaction for free. This is how much I charge. This is how great I am I you know, I set it all up. I do all these things, whatever. It's not that hard. I want somebody as a backup because I am really good. But if I missed the deadline, I would just feel terrible forever. So I want somebody to help me do all the things. Yeah, if you want to go to like literally every agent, if you have one agent client, you will get a lot more because I'm going to tell everybody that I know how great Lacey is. Lacey is great.   Tom: Shout out Lacey.   Michael: That's fantastic. I love that. I love that tip. Because again, that's one of the things that's like in the real estate ecosystem. So you're getting exposed to the to the market to the industry, and you're making money. I think that's awesome.   Mindy: You're learning contracts, you're learning lenders, you're talking to home inspectors and title companies and you're really touching every part of a transaction. She's involved in every part of the transaction, and she sees all the things. So she actually did used to be an agent and said that she prefers transaction coordination.   Michael: So in flipping the narrative a little bit, so that those are some great side hustles that folks can do to help generate some additional cash for their savings for down payments or for investing. What are some of the pitfalls or traps that you've seen new investors fall into?   Mindy: Not being well capitalized, when you buy a house, something will break, I guarantee you, there are very few guarantees in life, it is a guarantee that when you buy a house, something will break, the cost of that repair is inversely proportionate to how much money you have in your reserve fund. If you are very well funded, you get like a broken light switch cover or something. But if you don't have a lot of money, all of a sudden your AC goes out, and it's 105 degrees outside, or it's 30 Below and the furnace breaks.   Something will break. And if you don't have money to pay for it, you shouldn't be buying a house.   Tom: Do you have a rule of thumb on reserves?   Mindy: I really like $10,000, To start off with, like per property rather than?   Michael: 1 million dollars.   Mindy: 1 million dollars. Yes per property. And that is, it's you know, it's a rule of thumb where rules of thumb are like give or take, I have a good paying job, and very low expenses, so I can cash flow, anything that comes my way, I don't have any reserve fund. But I also am able, you know, I have a great line of credit, I can just, if I need a roof, and for some reason my insurance company isn't going to pay for it, I can go and find the $15,000 to put a roof on my house, if you don't have any money in your reserves, you're going to really be hurting and you have to have a roof and you can't not have a roof.   $10,000 is a good place to start. And then I would continue to add to it at a rate of approximately 1% of the purchase price of the house per year. Once you get to like $20,000 I'm trying to think what would cost more than $20,000 to repair on a house right now. And you know, prices have gone through the roof with COVID. And all of the crazy supply issues that that we're having right now. So maybe $20,000 is going to be a better bet. But you know, if you're replacing stuff, it's probably not going to all break at once. And it's probably not going to cost you more than $20,000.   And yes, that is per property until you get to a certain point, like if you have four properties that are in relatively good condition. Oh, condition is another thing. Like if you have a brand new build, you probably don't need $10,000 in your reserve fund. But if you have, you know, a 1950s build, you should probably go $20,000 in your reserve fund unless it was just all you know, remodeled and everything's brand new.   Tom: Yeah, one thing I love about that response in it as well as is there's you know, it's it's dynamic, right? If it's a newer house, or if you have a big line of credit, like it's not real estate and all this it's not one size fits all, there's, you know, strategic considerations on where you're at and, and the property, all of that good stuff.   Mindy: Yeah. And it comes down to like, what kind of financial position Are you personally in? If you're well funded personally, you'll be probably okay. But you know, with COVID when they did them, eviction moratoriums that people stop paying rent, there were owners of four plexes and eight plexes that had 90% of their tenants not paying rent, I guess that doesn't work in a four Plex that would be 75% of their tenants not paying rent, how are you going to pay the mortgage on your house if your tenants aren't paying your rent? And if you don't have six months of all the payments in an account, you need to be getting six months of all the payments? I mean, how long has the eviction moratorium been going on? Like 10 months or something? And it's supposed to schedule through like, is it September? That's the student loan one. Maybe it's the end of June or July? I don't know…   Michael: I think it is September?   Mindy: Yeah, it's fluid with all the different states. But it's, that's a significant amount of time that your tenants may not be paying rent.   Michael: Yeah, that's a great point.   Tom: You touched on an item that I think is super relevant to current conditions, talking about price of materials talking about, you know, just kind of a dynamic market. I'd love to hear has your strategy evolved at all like with the cost of materials going crazy and with like appreciation going nuts on these houses? Or you know, is it as had been pretty consistent through the different market changes that we're seeing?   Mindy: COVID changed my strategy in that we were going to turn our former primary residence into an Airbnb. And when that got shut down, we decided we would rent it out long term. And after we saw all the appreciation going on, we said you know what, I don't really have time right now to go and run an Airbnb. I'm really, really a control freak. So I'm not going to pass that off to somebody else. Let's just sell it be done with the house and move on.   We were incredibly fortunate. We bought all the supplies for many of the projects around the house right before COVID hit. So all the wooden studs for the basement we bought at 2019 prices, not 2021 prices, which is four times as expensive. We've did a whole a big deck edition. And we bought those. They arrived on March, I think March 9, all that stuff arrived. So we like right before they shut down the entire country. We bought all these all of our supplies.   We're building a shed, and my neighbor is doing a renovation, and it's throwing away studs from the 60s. Why would you do that? So I'm going through the dumpster and I'm grabbing those studs, and I'm putting them in my garage. And now I have a new goal. I'm going to scavenge all of the supplies for my shed. And my neighbor's fence got knocked over with the snowplow. So they're building him a new fence. And we're the weirdos that are always working on our house. So he asked us if we wanted his his old fencing materials and his old cedar two by fours and his old cedar four by fours like, Yeah, I do. Because even if I can't use them in the house, I can, you know, he's like, I just don't want them to get thrown away, like I can put them to use.   Tom: What a win win that's brilliant.   Mindy: But I'm not planning any more big projects right now because it's so expensive. And I mean, you can't even go into the store and find two by fours sometimes and plywood. And it's we're doing a lot of painting now, instead of building. And I'm not sure when we're going to change back to building.   Michael: Smart.   Tom: Writing the plan in pencil. That's awesome. I love that that response is cool, because there's like multiple zigs and zags just based on what's what's going on.   Mindy: But if you're not dumpster diving, you need to start it's like construction dumpster diving, don't go to the back of like Whole Foods or something but or maybe. I mean, they throw away a lot of good stuff too. But if you're walking around your neighborhood, and you notice that your neighbor is doing some work peek inside, if you can skip buying 52 by fours because your neighbor just threw a bunch away. That's just that's just smart.   Plus, they're from the 60s so they're straight. I mean, they were sitting outside on the deck and it got wet. And then they still didn't bend and now you get a two by four and it bends before you can get it home. Sorry, I digress.   Michael: You look at it wrong. And it's a warped. Yeah. I was gonna say Tom and I were chatting the other day, and I'm doing a massive redevelopment project. And that budget has just got eviscerated because of the wood prices and other materials. And it's just it sucks. Like, I'm in the middle of it. And there's no way around it.   Mindy: Yeah, I have seen new builds where the buyer put the deposit down and sign the contract. And okay, we're going to start building in March, April. And the builder comes back and says, Okay, now it's going to cost $30,000 more, because wood went up so much. And if you don't want to pay that we understand, we'll refund your money. I've got a line of people waiting to buy this house at the $30,000 additional price.   So what do you do? Do you say yes? Or do you get your money back? I mean, the next house isn't going to be any cheaper.   Tom: It's all just rising so quickly related on the materials costs. I had some read to replace a deck in my house, and we ended up using this bamboo composite and it actually turned out really great. I was a little concerned but our contractor said he had used it on a couple of projects, so shout out bamboo composite decking.   Mindy: Oh, I haven't heard of that before.   Tom: Yeah, it's I think Momo MooMoo booboo, I forgot the name of the exact the name of it. Mozu it might be. But anyways, waterproofs, warranty, all that good stuff. This episode is not brought to you by but we're going to market it anyway.   Michael: Let's shift gears here, Mindy. And I would love to chat with you and get your thoughts, insights, opinions on being a female investor. And what that's like, in what seems to be often a male co opted space.   Mindy: Yeah. So it makes it really easy to that people. It's really easy to decide who I want to work with and who I doubt and it's based on how they treat me. I am not necessarily the only woman in the room, but I'm frequently one of just a couple. And if you you know when you're dealing with contractors, if you call me honey, I'm not working with you, sweetie, baby. Tell me what you need. Tell me what color you want. I don't have a lot of self esteem issues. So if you don't want to work with me, because I'm a woman, I don't care.   I know a lot of people who will work with me because they have this is 2021 Why is that even an issue? But it can be an issue for, you know, for people who aren't as obnoxious as I am. But I want to invest in real estate. So I'm going to and if you don't, if you don't want to deal with me, that's okay, I'll find somebody else who will.   But what is it? Like? It's gotten a lot better. I think that there is a lot more understanding that women are investors. I mean, we're just investing we're not I don't have to lift up the house, I don't have to, you know, use my muscles to do things. So it's like, there shouldn't be any difference. But there are, and I got big muscles. So yeah, it used to be a lot different. But now it's changing.   Tom: I guess, one kind of follow up. Final question related to that. Do you have any advice or recommendation for female listeners who want to become active involved in their area?   Mindy: I am going to go back to the advice that I gave in the beginning and educate yourself. When you come in knowing what you're talking about. People will listen. And the you know, it's okay to ask questions, but ask them in an intelligent manner. And do research in advance to see if you can answer your own question. But there's, you know, there's a lot of nuances in real estate, you can absolutely ask questions based on the nuance.   But hey, how do I get started? Is not the best question to answer to ask, what are the benefits of this strategy versus that strategy is a better way to go? doing a little bit of research, you know, understanding that there are differences and doing a little bit of work on the front end will get you better answers and more people who are willing to talk to you.   But there's a lot of self education, you can do YouTube channels, podcasts, books, blog posts, people are talking about real estate investing right now. And it's like the cool thing to do. And if you want to be a real estate investor, why do you want to be a real estate investor? What do you hope to get out of it? You know, ask yourself all of those questions, and then just jump in.   Tom: Love it. Michael, do you have any other questions? Or is it a good time to jump into some quickfire questions that we have?   Michael: No, Let's jump right in the quickfire? That sounds great. Perfect. All right. All right, Monday, so I'm gonna ask you a series of 10 questions. These are either or questions. Just kind of like a quick, quick response. Are you ready for some quickfire questions?   Mindy: Hit me.   Tom: All right. Consolidation or diversification?   Mindy: Oh, diversification.   Tom: High property taxes, or high income taxes?   Mindy: Oh, I don't like either of those. Um, I would say high income taxes, because there are ways to shield the income taxes. And there are ways to reduce your taxable income, whereas they're your property taxes, just your property tax.   Tom: I was going to let you get away with neither are you going but your answer ended up being much more interesting. Good one. I like that. All right.   High rent growth or low vacancy.   Mindy; Ooh. Oh, right. Yeah. turnovers their profit killers. So yeah, low vacancy, I guess. No, I like these questions.   Tom: I know. That's what that's why they that's what they call it the hot seat. All right. Next one. Cash Flow or appreciation?   Mindy: Cash Flow always because you cannot predict appreciation unless it's forced appreciation. I like forced appreciation more than cash flow. But you didn't say force you just said regular.   Tom: Yeah, I think you could take any flavor of that.   Mindy: Oh, then forced appreciation.   Tom: Excellent. Debt or equity?   Mindy: Equity.  No, well, no debt or equity?.... debt right now because it's so cheap. Yeah.   Tom: Yeah. I love it. Love it. Love it. All right. Next one single family or multifamily?   Mindy: I've always done single family, but I see the appeal of multifamily.   Michael: Alright. Alright, so, right.   Tom: All right. Yeah. local or remote investing?   Mindy: Ooh, I prefer local but I've done both. I just like to be there.   Tom: I think I know the answer to this next question, turnkey or massive project?   Mindy: Massive project.   Tom: All right, final three questions we're going to these are a little bit outside of the real estate box.   The midnight oil or the early bird worm?   Mindy: Oh, early bird worm. I go to bed super early but I get up early to early bird.   Tom: Early bird worm, me too. Alright. text message or email?   Mindy: Oh, email because it's illegal method of notification and text message is not.   Tom: Good. And the final question here, all of your answers are like really thoughtful like good, really great responses we've had like, I've learned I usually it's like I'm not learning things on these hot seat but like this. Alright, mini the final one. Olive oil or butter?   Mindy: Oh, wow, it depends on if you're doing high heat cooking. Butter will burn olive oil is a high heat oil. If I'm putting it on a muffin, it's butter.   Tom: Alright, butter. Butter. It is Yeah. You not only survived the hot seat, you thrived. That was fantastic.   Michael: I'm just picturing an olive oil soaked muffin.   Tom: Dude, olive oil cake. It's a thing. It's a thing.   Mindy: Oh, really? Yeah, I made brownies. Once I made it. I didn't have any oil. So I use olive oil and it did not taste good. I mean, they were brownies. They were still okay, but you could taste the olive oil with Yeah, that's really good to know.   Tom: Thank you so much Mindy for coming on. I love these. I love these episodes, because it's kind of self serving and just learning a ton. Really appreciate your time coming on.   Mindy: Well, thank you for having me. This is super fun. I like that hot seat. Actually. I just didn't like that one question.   Tom: That was the best Hot Seat I think we've we've had like over 100 episodes and…   Mindy: Oh, I was gonna say what is this episode two?   Michael: That's great. No, that that was that was by far the best one. Really? Thank you so much for taking the time for hanging out with us and helping educate. This was great.   Alright, everybody, that was our episode a big big, big thank you to Mindy. That was a lot of fun bar none best quickfire answers we've heard on the show to date. So for all of our future guests, that's a challenge to you to top Mindy's answers.   Hope you enjoyed the episode today. If you would like please feel free to give us a rating review wherever it is. Listen your podcast. If you're checking this out on YouTube, please feel free to subscribe to the channel so you get all the most up to date episodes as they come out.   Again, thanks for listening and happy investing.   Tom; Happy investing

It has been more than a year since the pandemic put the housing market briefly on pause for several months last spring. But real estate bounced back rather quickly. For more than 12 months now, low mortgage rates and the popularity of virtual work ignited by the pandemic have fueled a rapid increase in housing demand — espicially in lower-density suburbs. Despite uncertain economic times, there has been a booming residential housing market. More existing homes were sold in 2020 than in any year since 2006. Many seasoned veterans are curious to know how long will this boom last or will it eventually come crashing down like in 2008? So far, the housing market continues to be sizzling hot resulting in higher home prices and bidding wars for newly listed residences. The Federal Reserve is playing a key role to support the economy and housing market by keeping borrowing costs low for shorter-term loans. Amongst this chaos is the new home buyer. Less interested in the historic market and more excited to take their very first plunge into homeownership, the challenges to secure the right home, at the right price, in the right location is as daunting as ever. Scott Trench is the CEO and President of BiggerPockets. He has dedicated his career to helping ordinary Americans build wealth in part through real estate investing. Since joining BiggerPockets in 2014, Scott has authored the bestselling wealth-building book Set for Life and joined Mindy Jensen as co-host of the BiggerPockets Money Podcast. Mindy Jensen has been buying and selling houses for almost 20 years, both as an investor and as a real estate agent. She LOVES real estate and is most passionate about taking an outdated house and turning it into a beautiful, modern home. Mindy is the Community Manager for BiggerPockets.com, and the co-host of The BiggerPockets Money Podcast. Scott and Mindy’s book First Time Homebuyer: The Complete Playbook to Avoiding Rookie Mistakes hit the shelves last month.  

If you want to set yourself up for success, you need to take ownership of the home buying process and start asking questions. On today's episode, we talk with Mindy Jensen, investor, realtor, and author, on how first-time home buyers can avoid rookie mistakes. Buying a home for the first time can seem overwhelming but today's guest shares the complete playbook for purchasing your first home. We discuss with Mindy why you shouldn't rely on a realtor for everything, how to take ownership of the home buying process, why falling in love with a property is detrimental to your financial success, and how to find, vet, and select a lender who matches with your goals. Mindy also shares how you can creatively find deals in the current market. Mindy is primarily a live-in flipper, buying an incredibly unattractive house and rehabbing it while living in it. Why would someone put themselves through this?!? Sweet, sweet tax-free capital gains, baby! She's currently NOT working on her 10th live in flip, having made the decision to slow down and take things a bit easier during the next year. Mindy is the Community Manager of BiggerPockets.com, the co-host of the BiggerPockets Money Podcast, the co-author of First Time Home Buyer, and a firm believer that women everywhere can and should generate wealth through real estate investing. On today's episode, we discuss a ton with Mindy including: How you can find deals in a hot market Things to consider when looking for you first home What NOT to do when putting in offers Should you wait to buy a home? The biggest mistakes investors and homeowners make Books/Resources The Richest Man in Babylon by George S. Clason Waffles on Wednesday Spending Tracker Contact Information Email - mindy@biggerpockets.com Instagram- @MindyatBP Twitter- @MindyatBP BiggerPockets Money Facebook Group    Buy your first house with your eyes wide open and outsmart the world's most common financial trap! From BiggerPockets CEO Scott Trench and podcast co-host Mindy Jensen, learn how your home purchase can destroy your wealth... or generate even more in their new book, First-Time Home Buyer: The Complete Playbook to Avoiding Rookie Mistakes, Buying a house is more than just trading money for a deed. Between choosing your real estate agent and lender, picking the right neighborhood, and choosing the house itself, you're suddenly making more decisions than you ever thought possible. All this while trying to keep a level head for what may be the biggest purchase of your life! Plus, no matter how desperately you want to escape the renter's cycle, buying a house isn't always a good investment. Your home can destroy your wealth and freedom or generate the same—and this book will show you how to make a decision that gives you the most financial flexibility possible. BUY THE BOOK NOW! https://store.biggerpockets.com/products/first-time-home-buyer We are so excited to share that we are hosting a free 3 day live event called the Top Producer Challenge!  This is specifically for real estate agents who are looking to take their biz to the next level!  Our speakers are top producing real estate agents and some of the best in the business.  You will learn how to find hidden inventory and win bidding wars!  You will also learn how to build a profitable biz without buying leads and how to stand out with sellers to win listings in a crowded market.  We have invited the best in the biz to share their success strategies with you!  So come join us for this FREE EVENT on April 27th, 28th and 29th at 7 pm EST….  REGISTER HERE - https://www.therealestateinvesther.com/top-producer   InvestHER Community Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms. How To Join the InvestHER Movement   1)  The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.    Subscribe via Itunes  Subscribe via Android  Subscribe via Stitcher 2)  InvestHER Community on Facebook  We have 2k+ members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!   3) InvestHER Meetups Around the Globe We have over 4k+ meetup members attending close to 25 InvestHER Meetups across the country and Canada.  Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther Learn more about your ad choices. Visit megaphone.fm/adchoices

Buying your first house is no joke – from the downpayment to the mortgage, to finding the right house, to the paperwork and more, it can be quite a process. So how do you buy your first house with ease and avoid some rookie, aka costly, mistakes? Scott Trench and Mindy Jensen, co-hosts of the BiggerPockets Money Podcast and authors of the new book, First Time Homebuyer, are our guests on this episode to share how to buy your first home, why your purchase really isn’t an investment, the importance of an exit strategy, and why you shouldn’t think about buying a house without a reserve fund. So press pause on HGTV, and tune in for this how-to-buy a home episode.What You'll LearnYour first-time home buyer checklistWhy your home purchase really isn’t an investmentThe importance of an exit strategyHow to find your payback periodIs this a good time to buy your first houseHow to think like an investor when you buy a homeWhy you need a strong reserve fundLinksFirst-Time Home Buyer BookBiggerPockets Money podcastBiggerPockets on InstagramMeet Scott and MindyScott Trench is CEO of BiggerPockets, co-host of the BiggerPockets Money Podcast, a real estate investor and broker, and a bestselling author of Set for Life. Through a solid understanding of money management, calculated risks, and a lot of hard work, he created financial freedom for himself as well as a successful real estate business just three years after graduating college. Scott currently lives in Denver, Colorado, and enjoys skiing, rugby, craft beers, and terrible punny jokes.Mindy Jensen has been buying and selling homes for more than twenty years. Currently, she’s working on her ninth live-in flip—she buys ugly houses, moves in, makes them beautiful, sells them, and starts the process all over again. She is a licensed real estate agent in Colorado, co-host of the BiggerPockets Money Podcast, author of How to Sell Your Home and the Community Manager for BiggerPockets.com. When you can get her to stop talking about real estate, you can find her on her bike or adventuring in the beautiful mountains of Colorado.Episode SponsorsMake it the year you finally cross life insurance off your list, and get protection for your loved ones with Policygenius. Go to Policygenius.com and get started. You could save 50% or more by comparing quotes and start the new year with one less thing to worry about.The average person saves $720 per year with Truebill. Take control of your finances and start saving at Truebill.com/MM.Give your mom the most meaningful gift this Mother’s Day with StoryWorth. Get started right away with no shipping required by going to StoryWorth.com/mymoney. You’ll get $10 off your first purchase!SUBSCRIBE & SHAREWant to be the first to know when new episodes are released? Click here to subscribe in iTunes! IT’S FREE!

If you want to set yourself up for success, you need to take ownership of the home buying process and start asking questions. On today's episode, we talk with Mindy Jensen, investor, realtor, and author, on how first-time home buyers can avoid rookie mistakes. Buying a home for the first time can seem overwhelming but today's guest shares the complete playbook for purchasing your first home. We discuss with Mindy why you shouldn't rely on a realtor for everything, how to take ownership of the home buying process, why falling in love with a property is detrimental to your financial success, and how to find, vet, and select a lender who matches with your goals. Mindy also shares how you can creatively find deals in the current market. Mindy is primarily a live-in flipper, buying an incredibly unattractive house and rehabbing it while living in it. Why would someone put themselves through this?!? Sweet, sweet tax-free capital gains, baby! She's currently NOT working on her 10th live in flip, having made the decision to slow down and take things a bit easier during the next year. Mindy is the Community Manager of BiggerPockets.com, the co-host of the BiggerPockets Money Podcast, the co-author of First Time Home Buyer, and a firm believer that women everywhere can and should generate wealth through real estate investing. On today's episode, we discuss a ton with Mindy including: How you can find deals in a hot market Things to consider when looking for you first home What NOT to do when putting in offers Should you wait to buy a home? The biggest mistakes investors and homeowners make Books/Resources The Richest Man in Babylon by George S. Clason Waffles on Wednesday Spending Tracker Contact Information Email - mindy@biggerpockets.com Instagram- @MindyatBP Twitter- @MindyatBP BiggerPockets Money Facebook Group    Buy your first house with your eyes wide open and outsmart the world's most common financial trap! From BiggerPockets CEO Scott Trench and podcast co-host Mindy Jensen, learn how your home purchase can destroy your wealth... or generate even more in their new book, First-Time Home Buyer: The Complete Playbook to Avoiding Rookie Mistakes, Buying a house is more than just trading money for a deed. Between choosing your real estate agent and lender, picking the right neighborhood, and choosing the house itself, you're suddenly making more decisions than you ever thought possible. All this while trying to keep a level head for what may be the biggest purchase of your life! Plus, no matter how desperately you want to escape the renter's cycle, buying a house isn't always a good investment. Your home can destroy your wealth and freedom or generate the same—and this book will show you how to make a decision that gives you the most financial flexibility possible. BUY THE BOOK NOW! https://store.biggerpockets.com/products/first-time-home-buyer We are so excited to share that we are hosting a free 3 day live event called the Top Producer Challenge!  This is specifically for real estate agents who are looking to take their biz to the next level!  Our speakers are top producing real estate agents and some of the best in the business.  You will learn how to find hidden inventory and win bidding wars!  You will also learn how to build a profitable biz without buying leads and how to stand out with sellers to win listings in a crowded market.  We have invited the best in the biz to share their success strategies with you!  So come join us for this FREE EVENT on April 27th, 28th and 29th at 7 pm EST….  REGISTER HERE - https://www.therealestateinvesther.com/top-producer   InvestHER Community Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms. How To Join the InvestHER Movement   1)  The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.    Subscribe via Itunes  Subscribe via Android  Subscribe via Stitcher 2)  InvestHER Community on Facebook  We have 2k+ members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!   3) InvestHER Meetups Around the Globe We have over 4k+ meetup members attending close to 25 InvestHER Meetups across the country and Canada.  Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther

Samantha and her husband are trying to decide between a 15-year mortgage and a 30-year mortgage. Scott Trench and Mindy Jensen, co-hosts of the wildly popular BiggerPockets Money Podcast and the authors of the new book, "First Time Home Buyer", join to help answer her question.  Also, we hear from Abby Feuer from DonorsChoose about the state of teaching in America and how we can all help.   

Starting out as a rookie investor means you most likely have a lot of questions that need to be answered before you dive in and buy your first home! Whether it’s a primary residence, a house hack, or an investment property, you’ll need to know about loans, agents, inspections, and more. With us today is Scott Trench and Mindy Jensen, co-hosts of the BiggerPockets Money Podcast and authors of the new book First-Time Home Buyer.We’ve rounded up some of the most popular questions asked on the Real Estate Rookie Facebook group and asked the experts their opinions on them. Questions include:Should I use an agent-referred lender or a mortgage broker?Is more or less of a down payment better?Does my agent need to find off-market deals?How do I shop for loans?Would you buy an as-is property as your first deal?And more!Scott and Mindy have definitive answers to each of the above questions and sprinkle in a bit of their own experience, so you don’t make the mistakes they did. If you’re about to purchase a house, getting into the planning phase, or just starting to learn about real estate investing, make sure you get a copy of First-Time Home Buyer!

It’s not always comfortable talking about money, especially with close friends, family members, partners, or even bosses. How did salary, savings, and investing become such a taboo subject to talk about? With us today is Erin Lowry aka Broke Millennial, you may recognize her voice from episode 24 and 81 of the BiggerPockets Money Podcast. Erin paints a picture that many of us can relate to: you’re at a birthday dinner and you order a small side and a water while the rest of your party orders $60 sushi rolls and $70 steaks. At the end of the night, what always happens? The bill gets split evenly. Now you’re stuck with a $60 total (and tip) when you only ate $10 worth of food. So what do you do, throw a temper tantrum and leave? Of course not!It can be hard to match spending habits of friends and family if they make more than you (or are just more casual with their spending). Having frank conversation with these important people in your lives can not only help foster a healthy relationship, it can also put you in a position where you don’t feel resentment in the future. Don’t know how to have these conversations? No worries! Erin has a template for you!You’re not just talking about money with your friends and family, you’re also talking about it with your coworkers and bosses. How often should you ask for a raise, when is a raise earned, how do you ensure that you’re rewarded for your hard work? These can all be very tricky questions to answer. Through some research, metric tracking, and proper planning, Erin shows exactly when to go to your boss to ask for a raise, how much is reasonable, and how to assess your value within the company.In This Episode We CoverWhy talking about money with those close to you doesn’t need to feel uncomfortable Why “money talks” are often viewed as taboo in today’s society How to talk about money with your friends, family, and partnerSetting boundaries early for healthier relationshipsStarting a “friend fund” and offering less costly alternatives When the best time to ask for a raise isComparing your salary or compensation vs. industry averages Showcasing your value to your employer or clientAnd So Much More!

You're about to get some serious insight from a rockstar in the financial independence and real estate world. I am so grateful that I was able to interview Scott Trench for this week's episode. Scott very generously let me throw some tough topics at him. He was able to frame our student debt issues in a really interesting way and also shares some very valuable thoughts on wealth development and basic financial structures. You also get to hear some of Scott's famous "dad jokes" at the end of the episode...not to be missed! Thanks again to Scott and Bigger Pockets!...About Scott!Scott Trench is the CEO and President of BiggerPockets.com. Scott has dedicated his career to helping ordinary Americans build wealth, in part through real estate investing. Since joining BiggerPockets in 2014, Scott has authored the wealth building book Set for Life and joined Mindy Jenson as a host of the BiggerPockets Money Podcast . He stays active in the BiggerPockets forums and has contributed hundreds of articles, market analyses, and files to BiggerPockets. He has also contributed to other personal finance blogs, along with traditional news outlets including Time, CNBC, and NBC.An active real estate investor in the Denver market, Scott currently manages a private portfolio with about $1.5M in real estate assets under management and holds his real estate license as a CO broker. Scott graduated from Vanderbilt University with degrees in Economics and History, Corporate Strategy, and Finance.scott@biggerpockets.com@scott_trenchAbout Bigger Pockets!BiggerPockets offers content, tools, and a community of over 1,800,000 members to help people avoid mistakes; learn valuable tips; find partners, deals, and financing and make the best real estate investing decisions possible. BiggerPockets works hard to bring together real estate experts, newbies and everyone in between to gain the knowledge needed to reach their full potential.www.biggerpockets.comBigger Pockets Money Podcast...Resources referenced in this episode:-FIRE = Financial Independence, Retire Early-The 5 Financial Decisions that Make or Break Middle Class Americans written by Scott-Article on getting started in real estate investing written by Scott-Mr. Money Mustache Blog-Set for Life by Scott Trench-Your Money or Your Life by Vicki Robin...Ways to connect with The Whole Veterinarian!Instagram: @thewholeveterinarianFacebook: https://www.facebook.com/thewholeveterinarian/Email: thewholeveterinarian@gmail.comwww.thewholeveterinarian.com....Music Credit: Journey of Hope by Alexander Nakarada

Felicity’s story to financial independence is going to be similar to listeners of The BiggerPockets Money Podcast. She got a good paying job, spent less than she earned, intelligently invested in Index Funds and is now financially independent at the age of 30.Easy, peasy, lemon squeezy.Except, it’s NOT that easy, actually. She lives in America, and for much of that time, she lived in a very high cost of living city, Boston.Felicity rented a 250 sq ft apartment with her husband, Fergus, while he was in graduate school - because he didn’t want to live above his means, and he was making less money than she was at the time.In fact, Fergus is leery of the 4% rule, and would be much more comfortable if they were only pulling 2%-2.5% of their retirement funds every year.Their story illustrates the point Mindy makes so frequently in this podcast, “personal finance is personal.” Their story also illustrates the path one must take to get to financial independence.Spend less than you earn. Intelligently invest. Stay the course through the tough times. This too shall pass.In This Episode We Cover:Felicity's journey with moneyTalking about her unconscious spending and fixed expensesWhat she did with her money prior to discovering financial independenceThe moment she started his financial independence journeyHow she got obsessed with personal financeConversation about money with her husbandHer approach on her moneyTalking about happinessWhere she planted her moneyAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupThe Power of Financial Freedom - Fetching Financial Freedom5 Ways Losing 50 Pounds and Saving $1M Was Exactly the SameDonating a Year’s Salary to Our Donor-Advised FundMintMr. Money MustacheBiggerPockets Money Podcast 120 with Michael KitcesMillennial RevolutionMindy's emailScott's email

What is the deal with the stock market? How is the current recession different than the one from 2008/2009? How to think about real estate and your portfolio now? We are in conversation with the co-hosts of the BiggerPockets Money podcast, Scott Trench and Mindy Jensen. They're here to share their perspectives and best advice on how to navigate the economy now. Scott Trench is the CEO and President of BiggerPockets.com. Scott has dedicated his career to helping ordinary Americans build wealth in part through real estate investing. Since joining BiggerPockets in 2014, Scott has authored the wealth building book Set for Life and joined Mindy Jensen as a host of the BiggerPockets Money Podcast . He stays active in the BiggerPockets forums and contributed hundreds of articles, market analyses, and files to BiggerPockets. He has also contributed to other personal finance blogs, along with traditional news outlets including Time, CNBC, and NBC. Mindy Jensen has been the Community Manager for BiggerPockets.com for the last five years, helping less experienced folks learn how to invest in real estate the RIGHT way. She has spent the last 22 years live-in flipping houses, moving into very unattractive homes and making them beautiful - all while paying $0 in capital gains taxes because these homes are her primary residence. Mindy joins Scott Trench every Monday morning on the BiggerPockets Money Podcast to share the money stories of their guests. Mindy truly believes financial freedom is available for anyone. Mindy studied Fashion Design, the stupidest major ever.

In this episode, Scotts discusses F.I.R.E and how frugality and grit pushed him to financial independence. Scott is the CEO and President of BiggerPockets. Where their goal is to help ordinary folks build extraordinary wealth in pursuit of financial freedom through real estate. Scott and BiggerPockets strive to do that by providing the tools, education, and networking needed to drastically increase your odds of making a successful real estate investment and then managing it optimally. Scott is a real estate investor in Denver, CO, with a slow and steady philosophy for building wealth through real estate. His philosophy is; “just continue to buy one property every year.” He is a licensed Colorado Real Estate Broker, and the co-host of the BiggerPockets Money Podcast alongside Mindy Jensen. Scott has authored the book Set for Life. Which is a blueprint for those starting with little to no assets and a median income, but want to aggressively pursue financial freedom? Scott is also an avid blogger, podcaster, and author on the subject of personal finance. Particularly the aggressive pursuit of early financial freedom for median income earners working full-time jobs. Scott is obsessed with helping 9-5 employees working solid jobs move towards early financial freedom where he believes real estate investing can be a huge contributor to private wealth for full-time workers in most parts of the country. Scott is the CEO and President of BiggerPockets. Where their goal is to help ordinary folks build extraordinary wealth in pursuit of financial freedom through real estate. Scott and BiggerPockets strive to do that by providing the tools, education, and networking needed to drastically increase your odds of making a successful real estate investment and then managing it optimally. Scott is a real estate investor in Denver, CO, with a slow and steady philosophy for building wealth through real estate. His philosophy is; “just continue to buy one property every year.” He is a licensed Colorado Real Estate Broker, and the co-host of the BiggerPockets Money Podcast alongside Mindy Jensen. Scott has authored the book Set for Life. Which is a blueprint for those starting with little to no assets and a median income, but want to aggressively pursue financial freedom? Scott is also an avid blogger, podcaster, and author on the subject of personal finance. Particularly the aggressive pursuit of early financial freedom for median income earners working full-time jobs. Scott is obsessed with helping 9-5 employees working solid jobs move towards early financial freedom where he believes real estate investing can be a huge contributor to private wealth for full-time workers in most parts of the country. If you want to learn about his strategies and know more about Scott Trench on his success on real estate listen to this full video! Show Key Content  2:44 Who is Scott and how  did you get started 6:45 House Hacking 8:01S pending a little to Save a lot 11:55 F.I.R.E (Financial, Independence, Retire, Early) 13:04 Your Inspiration 14:52 How you become CEO of BP 19:50 First Real Estate Transaction  23:15Vetting Tenants 26:32 Current Situation 34:17 Set For Life Connect with Scott:  https://www.instagram.com/scott_trench/ Email: Scott@biggerpockets.com Books: Set for Life by Scott Trench  Superthinking by Gabriel Weinberg       House Hacking by Craig Curelop  

This Bonus Episode of the BiggerPockets Money Podcast is to help keep you informed of the Stimulus act that Congress is putting into place to help Americans with the Coronavirus and unprecedented shutdown of most of the economy.Joining Mindy today is Natalie Kolodij, who last appeared on Episode 112. Today’s episode was recorded on March 28, and we are fully expecting additional clarification and guidance from the federal government on these provisions. Congress just passed a 2.2 TRILLION dollar bill to provide relief for Americans in the face of the Coronavirus. While the bill does provide for monetary help, there’s a lot of other benefits that may not be getting the same press. OF COURSE we talk about the checks: How much, Who is eligible, When does it arrive? We also go a bit further and answer if it’s taxed, do you have to pay it back, is it a loan? If you have a 401(k), IRA or even a Roth IRA, there are additional provisions for you to consider like extended loan limits and penalty-free distributions.There are benefits for already retired people such as no RMDs this year if you haven’t already taken them.We discuss the student loan interest rate freeze and how to take advantage of their no payment option. We even touch on the additional provisions to employers such as IRC Section 139 changes that allow employers to help their employees out during this time of crisis, payroll deferment, sick leave, employee retention benefits and extended unemployment benefits. If we have our financial ducks in a row, now could be a great time to make some tax-advantaged moves.In This Episode We Cover:How to qualify stimulus checkHow much money people get on stimulus checkKey thing to keep in mind with stimulus checkCan people refuse the checkStimulus check for dependentsAre green card holders and H1B VISA holders who work and pay taxes eligible for these benefitsIRA versus 401k distributionThings to consider before converting funds from a traditional plan to a Roth planAre there any provisions for already retired peopleHow can an employer use the IRC Section 139, Disaster Relief PaymentsHow does provision work on student loansFamilies First Coronavirus Response ActEmployee Retention CreditsPayroll tax payment deferralAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsBiggerPockets Real Estate PodcastBiggerPockets Money Podcast 118BiggerPockets Money Podcast 112

This episode is part of a series recorded at PodMAX, an event that connects podcast hosts and entrepreneurs within the real estate space who have fascinating stories to share. Palak Shah, owner and founder of Open Spaces Capital and Open Spaces Women, joins True Multifamily to share her story of having a theft as soon as she closed the property. She mentioned how important contingency is and how her team made lemonades out of the lemons given to them. Palak shares her different approach, providing a long term strategy to provide quality housing when it comes to property management. Upon quitting her job and building her amazing portfolio, she envisioned getting women the support to learn more about real estate and learn more about value add investing, empowering women throughout the process. She was also featured on the BiggerPockets Money Podcast. For Palak, the best way to scale is to find a scalable model and to keep on doing it, providing excellent service to tenants through social impact and profitability. Reference Links: Open Spaces Capital Open Spaces Women BiggerPockets Money Podcast featuring Palak Shah $3,500 per Month From One BRRRR Deal With Palak Shah Social Media: Website Facebook Twitter Instagram LinkedIn

On today’s episode of the BiggerPockets Money Podcast, Co-Host Scott Trench teams up with two personal finance superstars in Whitney Hansen and Doc G of Diversefi.com. Together, they hear four “life after FIRE” stories, each completely different, each extremely powerful. We talk with a business owner struggling with millions of dollars in debt who was able to sell his business, re-write his career (he is now a business coach), and get a new handle on his time. Another guest retired with her husband in 2012 and together, they took on adventures and traveled the world together. Financial independence made all the difference for them in allowing them to experience as much of the world as possible, as her husband passed away a few years following early retirement. A third couple left their high paying jobs at the height of their earning potential to travel the world together, and they could not be more thrilled with their decision or excited about life. And finally, we interview the CTO of ChooseFI, William, who was able to retire early, overcome the loss of his wife, and use his financial freedom to pursue the job of his dreams with a great company, and provide for his children. These stories highlight the importance of achieving Financial Independence and using it to make the most of our lives. In This Episode We Cover:What their life looks like after FIRE and the challenges they facedWilliam's journey to financial independenceThe advantage of being financially independent in the workplaceHow they plan for caregivingTim's backgroundFinancial Independence Rewired EarlyThe importance of having a clear second actThe difference between working on his business and working as a coachThe FIRE lifeTim's advice for anyone who's looking to pursue financial independenceRachel and Paul's backgroundsOn their mission 50 by 50Oma's backgroundOn healthcare costLinks:Mr. Money MustacheMad FienstistThe Money Nerds PodcastWhat's Up Next PodcastAltus Business AdvisorsTim's email

All the BiggerPockets podcast hosts on stage in one place! This bonus episode was recorded at the BiggerPockets Conference 2019 on October 7th in front of a live audience of more than 1,000 people at the Gaylord Opryland Resort in Nashville, Tenn.We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott.Our panelists covered some nitty gritty real estate topics, like tackling vacancy and how to invest IRA funds, as well as big-picture concepts like motivation, marketing, and teaching family members the importance of investing at an early age.Also, everyone reveals which animal they would be if they had to choose, and a member of the audience challenges David Greene to produce an analogy on the spot. Listen to find out whether he performed under pressure! Our first conference in seven years was a big success, and we’re so thankful to everyone who came out to learn, network, and have a great time.Download this bonus episode, and be sure to subscribe to all three shows BiggerPockets Real Estate Podcast, BiggerPockets Money Podcast, and BiggerPockets Business Podcast so you won't miss an episode.

All the BiggerPockets podcast hosts on stage in one place! This bonus episode was recorded at the BiggerPockets Conference 2019 on October 7th in front of a live audience of more than 1,000 people at the Gaylord Opryland Resort in Nashville, Tenn.We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott.Our panelists covered some nitty gritty real estate topics, like tackling vacancy and how to invest IRA funds, as well as big-picture concepts like motivation, marketing, and teaching family members the importance of investing at an early age.Also, everyone reveals which animal they would be if they had to choose, and a member of the audience challenges David Greene to produce an analogy on the spot. Listen to find out whether he performed under pressure! Our first conference in seven years was a big success, and we’re so thankful to everyone who came out to learn, network, and have a great time.Download this bonus episode, and be sure to subscribe to all three shows BiggerPockets Real Estate Podcast, BiggerPockets Money Podcast, and BiggerPockets Business Podcast so you won't miss an episode.

Find out how to earn more in real estate investing than in the stock market, learn how to leverage SO MUCH more from a single-family home, discover what is house hacking, and the different ways to do it.   Resources/Links http://www.biggerpockets.com/ Summary Scott Trench is the  CEO of BiggerPockets.com, the largest real estate investing network on the internet. He’s also a personal finance nerd and author of “Set for Life” and host of The BiggerPockets Money Podcast, a real estate agent, and a real estate investor of which he currently owns 8 units across three properties in Denver, Colorado. In this episode, Scott shares his real estate investment hacks to grow your portfolio and generate an income passively, if you are a newbie at real estate, check out all the different strategies he has for start-ups. Topics Covered: 02:05 – His thoughts on real estate as a passive side hustle 03:09 – Book alert: Set for Life: Dominate Life, Money, and the American Dream By Scott Trench  05:35 – How he got interested in the concept of financial freedom 08:26 – How to earn more in real estate than in the stock market 10:57 –  How to moderately leverage on your real estate investment 12:06 – What is house hacking 14:07 – Leveraging on a single-family home real estate 15:56 – Ways on how you can house hack your own residential home 17:18 – What to look forward to in Scott’s biggerpockets.com website Key Takeaways: “ I love and have been friends with many different investors who are, ‘Hey, this is my business. This is full time. I am, or I’m aggressively pursuing real estate with the intention to make it my full-time thing’. But I think it’s also a very viable approach for someone like me who’s got a full-time job that’s not real estate investing and still intends to deliver significant returns and excess of alternatives like stocks or other different asset classes through privately held real estate that I own and control.” – Scott Trench “My philosophy around this is ’I’m going to buy consistent properties and I’m going to keep them reasonably leveraged  but make sure that I have strong cash flow and a strong cash cushion to fall back on’.” – Scott Trench Connect with Scott Trench: www.biggerpockets.com Instagram Bigger Pockets Money Podcast LinkedIn Connect with Dave Dubeau: Property Profits Podcast www.davedubeau.com www.investorattractiondemo.com Facebook LinkedIn Enjoyed the Podcast? Please subscribe on iTunes for updates

Kyle Mast first visited us on Episode 41 of the BiggerPockets Money Podcast, and he BLEW US AWAY with his suggestions, ideas, tips and tricks for early retirement.Kyle is back again today to talk more to traditional age retirees - those of us who are retiring at or near age 65.Retiring now can seem scary - the market is near all-time highs and has been so for a very long time. Markets are cyclical and unpredictable.Kyle shares how to ride out the storm with strategies to manage both behavior and emotions. He’s a big fan of Retirement Fund Dates - but not of putting all your retirement eggs into one fund-date basket. Kyle also looks at Social Security and covers several scenarios to help you decide when to start receiving your benefits. Kyle is a fee-only Certified Financial Planner - and this episode shows time and again just how valuable a consultation with a CFP can be. If you’re nearing traditional retirement age - and you’re not quite sure what’s next - THIS episode is especially for you.Topics:How to set up portfolio transitioning to traditional retirement ageOn managing behavior and emotionWhat a bucket strategy isSequence of returns riskDelaying social securityOn claiming social securityIncome limitation for social securityThe importance of having an understanding of social securityWhat people look for when finding a financial plannerDesigning lifestyle and expectation around spendingHow to plan your expenses on retirementWhat a long-term care insurance isOn having a long-term cafe insurance with golden policyOn target date fundsIdentifying your own risk tolerance

Episode 43 was recorded in front of a live audience at CampFi Rocky Mountains in Colorado Springs, CO. Paula Pant from the Afford Anything Podcast, Mindy Jensen from BiggerPockets Money Podcast and Paul Thompson from What's UP Next all co-host the episode and give CampFi attendees a chance to answer the question "What is Your Why of Fi?" Get your ticket to the next Camp at CampFi.org

Erin Lowry last joined us on Episode 24 of the BiggerPockets Money Podcast, where she talked about getting Financially Naked with your partner. She’s back today to talk about investing - and all the things many people don’t really know. Erin shares the basics that so many articles and podcasts gloss over - but that are so important to know in order to be financially successful. She also has a new book out: Broke Millennial Takes On Investing: A Beginner’s Guide to Leveling Up Your Money, where she tackles investment basics. If you’re new to investing, or just having trouble figuring out all the terminology, this episode is right up your alley. In This Episode We Cover: Where Erin started investing The importance of educating yourself On setting financial goals What a time horizon is Her take on insurance What to think about when it comes to investing Her take on retirement The easiest way to start investing for retirement What a target date fund is Two different ways to think about investing What are the difference between Traditional IRA and Roth IRA How to start investing when you still have debts Credit card debt versus student loans How powerful compound interest is Important thing she wants people to take away from this episode about investing And SO much more! Links from the Show BiggerPockets Forums Getting Financially “Naked” with Your Significant Other — With Erin Lowry NerdWallet MagnifyMoney Bankrate Investor.gov Vanguard Fidelity

Pete Mockaitis grew up in the cheapest place to live, Danville, IL. He watched his mother work her way up the local credit union ladder from teller to CEO, simply by doing more than necessary, repeatedly. His mother strongly discouraged debt, having seen so many of the credit union’s customers declare bankruptcy and have their entire bank accounts wiped out. As a kid, he saw firsthand that hustle pays off. He helped his brother with his paper route for a quarter, only to learn his brother was making $1.80. After high school, he got into college on a full ride scholarship, and graduated into his dream job with Bain & Company. He saved money by skipping the little things like taking a cab when he could walk, having roommates instead of living alone, and drinking water instead of ordering drinks when he was out. Pete’s true calling was entrepreneurship. To prepare for the jump to self employment, he figured out his burn rate - and discovered it was a lot lower than he originally thought. By figuring out how much he was spending, and computing the value of his pre and post tax time, Pete optimized his path to Financial Freedom, and is now enjoying the fruits of his labor. In This Episode We Cover: Pete's journey with money Lessons he learned from his mother How he applied the lessons he learned in his approach to early financial freedom How he pursued early financial freedom On growing up frugal Why it took him 3 years to save a year’s worth of living expenses His advice for people who would like to try the entrepreneurial route The importance of being smart with your savings On being real and quantitative On tracking recurring and non recurring expenses and breaking it down into dollars per day On his revenue generation His advice on building revenue On investing And SO much more! Links from the Show BiggerPockets Forums How to Become an “Overnight” Success in 10 Short Years with David Greene How To Be Awesome At Your Job Episode 386: How to Earn More, Spend Less, and Build Wealth with Mindy Jensen BiggerPockets Money Podcast 73: Ramit Sethi Will Teach You to Be Rich! BiggerPockets Money Podcast 56: Change Your Personal Finances (& Your Millennial Money Mindset) with Paychecks & Balances Podcast Movement

John and David didn’t have "the money talk" right away. They both worked in the financial industry, and each thought the other would be great with money. About a year and a half in, they discovered they were both AWFUL with money. Both had lots of debt with no real plans to pay it off. Enter the spreadsheet. David is a self-professed numbers nerd. He entered every expense from the last 12 months into a spreadsheet and discovered some shocking spending habits in several categories. These were places they could easily cut their spending so they could start paying down their debt. And like everyone else who finally figures out money, they hit it hard—planning menus, making grocery lists, and clipping coupons. (They didn’t buy anything they didn’t have a coupon for!) Rather than the debt snowball or debt avalanche methods, they approached their debt paydown with a new method: the debt lasso. They gathered up all their debt—mostly credit card—transferred it to 0% interest cards, and hit the payments hard. In the process, David and John discovered that no one is talking about money in the LGBTQ community. So they set out to change that, opening up the topic to help their community stop being fearful of money and start aligning their spending with their values. In This Episode We Cover: David and John's journey with money How they amassed such a huge debt Having a "money" conversation in regards to their expenses The importance of having a conversation about what their life goals are Cut about $30,000 of food spending a year Using the spreadsheet and looking at their net worth each month Paying off the smallest loan and gaining momentum Debt Snowball versus Debt Avalanche Their investment approach after their paying off their debt Built up emergency savings of $1,000 Ways to get yourself out of debt (by spending less than you make!) Why people are afraid to talk about money And SO much more! Links from the Show BiggerPockets Forums Waffles On Wednesday BiggerPockets Money Podcast 07: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday BiggerPockets Money Podcast 11: Financial Freedom in Less Than Five Years with Joel from FI 180 Financial 180 BiggerPockets Money Podcast 73: Ramit Sethi Will Teach You to Be Rich! Dave Ramsey

Today, we’re introducing the BiggerPockets Business Podcast, co-hosted by J and Carol Scott. Subscribe now using the links below; Episode 1 is up now! SUBSCRIBE ON APPLE PODCASTS (IPHONE): https://podcasts.apple.com/us/podcast/biggerpockets-business-podcast/id1460051721 SUBSCRIBE ON GOOGLE PODCASTS (ANDROID): https://www.google.com/podcasts?feed=aHR0cHM6Ly9icGJ1c2luZXNzLmxpYnN5bi5jb20vcnNz The BiggerPockets Real Estate Podcast will be back tomorrow, and we’ll be back to regular programming next week. Future episodes of BiggerPockets Business will drop on Tuesdays -- the day after the BiggerPockets Money Podcast. Oh, and go follow the BiggerPockets Business Podcast on Twitter @BPBusinessShow and Instagram @BiggerPockets!

Welcome to a real-world MBA for entrepreneurs. This show guides you through what it's really like to go into business for yourself. Your hosts are J and Carol Scott, former corporate managers-turned-house flippers. Every Tuesday, you'll meet founders, marketers, and side hustlers and learn lessons from the trenches of entrepreneurship. From the team that brought you the BiggerPockets Real Estate Podcast and the BiggerPockets Money Podcast (65 million combined downloads)... This is BiggerPockets Business.  Episode 1 drops May 2nd... subscribe and stay tuned!

A little over halfway into BiggerPockets Money Podcast episode 55, Bryce dropped a bombshell: “We had three years of runway before we actually pulled the trigger.” What he meant is that they tested their portfolio for three years before quitting...

Podcaster and real estate investor Mindy Jensen shares strategies for building wealth.   You'll Learn: The number one tip for earning more at your job The power of tracking your spending Tips for optimizing big expenses   About Mindy: Mindy Jensen is the Community Manager for BiggerPockets.com, and the co-host of BiggerPockets Money, a podcast for anyone who has money or wants to have more.   View transcript, show notes, and links at http://AwesomeAtYourJob.com/ep386

2018 Financial Freedom Lessons Today, Scott and Mindy go guest-less to recap and review the things they’ve learned over the first year of podcasting. Topping the list—and surprising no one—is tracking your spending. But we did learn some new things this year too, like how money dates are a great way to bring your spouse on board. Looking for change your financial situation in 2019? THIS is the episode that can start you down the path to financial freedom. In This Episode We Cover: What Scott and Mindy's goal is The most important thing that their guests have done for their success in achieving their financial goals A discussion on tracking your spending Why relentless self-education is so vital How to get your spouse on board with money dates  Why there's no secret sauce for making more money How past money mistakes do not dictate your future money life How to apply intelligence and work ethic to earn more income How real estate helps people to pursue financial independence The four major categories people spend on: Housing Transportation Childcare expense Healthcare And SO much more! Links from the Show BiggerPockets Money Podcast BiggerPockets Podcast BiggerPockets Money Podcast 07: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday Waffles On Wednesday: Make Your Own Free Mobile Expense Tracking App in 30 Minutes Mr. Money Mustache Blog BiggerPockets Money Podcast 04: Eliminating Over $30,000 in Debt Through Extreme Organization with Former State Trooper Rosemarie Groner The Busy Budgeter BiggerPockets Money Podcast 10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames Frugalwoods BiggerPockets Money Podcast 24: Getting Financially “Naked” with Your Significant Other — With Erin Lowry Broke Millennial BiggerPockets Money Podcast 03: Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners 5 Dollar Dinners BiggerPockets Money Podcast 39: From “Bad with Money” to Intentional Saving and Spending with Jamila Souffrant BiggerPockets Money Podcast 32: Financial Freedom Through Small Life Changes and a Modest Real Estate Portfolio Planting Our Pennies BiggerPockets Money Podcast 08: From Financially Perfect to Rock Bottom (and Back Again) with Tiffany “The Budgetnista” Aliche The Budgetnista BiggerPockets Money Podcast 11: Financial Freedom in Less Than Five Years with Joel from FI 180 FI 180 BiggerPockets Money Podcast 49: Wealth Transfer—How to Financially Prepare for Inheritance Money with Hari Mix BiggerPockets Money Podcast 50: Rebuilding Your Financial Life After Bankruptcy with Patrice Washington BiggerPockets Money Podcast 12: How to Become an “Overnight” Success in 10 Short Years with David Greene BiggerPockets Money Podcast 01: The Surprising (Scientific) Truth Behind What Makes You Successful with Mr. Money Mustache BiggerPockets Money Podcast 02: An All-Out Approach to Financial Independence at an Early Age with Scott Trench BiggerPockets Money Podcast 05: Jump Starting Your Early FI Plans by Live-in Flipping with Mindy Jensen BiggerPockets Money Podcast 09: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire Guy on FIRE BiggerPockets Money Podcast 16: Financial Security Through Passive Income with Joel Larsgaard BiggerPockets Money Podcast 21: How Losing 265 Pounds Spurred Job & Investing Success with Tony Gayden BiggerPockets Money Podcast 19: The Ultimate Real Estate Retirement Plan with Chad Carson BiggerPockets Money Podcast 35: Hacking Your Life to Live for (Almost) Free with Craig Curelop BiggerPockets Forums BiggerPockets Money Podcast 22: How to Pay Off 6-Figure Student Loans While Pursuing Financial Independence with Travis Hornsby BiggerPockets Money Podcast 48: Breaking the Impulse Shopping Twitch to Embrace Minimalism with Anthony Ongaro Turo Airbnb BiggerPockets Money Podcast 29: From $200,000 in Student Loan Debt to $150,000 Net Worth in 3 Years with Nick and Alyssa Paros BiggerPockets Money Podcast 38: Getting Serious About Paying Off Debt with Phillip Taylor from PT Money BiggerPockets Money Podcast 18: Accessing Retirement Funds Before Age 59½ with The Mad Fientist

We’ve interviewed more than 30 people for the BiggerPockets Money Podcast over the course of this year — and we’ve got a LOT more people to interview! We’ve heard from so many  listeners: “I’d like to get started on the path toward financial freedom, but I don’t know where to begin." Today, Scott and Mindy share EXACTLY how you get started with tracking your spending, and how to make SIGNIFICANT cuts in your budget to move you down the path faster. Looking to become financially free? THIS is the episode you need. Links from the Show BiggerPockets Forums Mr. Money Mustache Mad Fientist Biggerpockets Money Show Waffles on Wednesday Mint Personal Capital Bureau of Labor Statistics Envelope System ChooseFI – Episode 09: Travel Rewards BiggerPockets Money Podcast 01: The Surprising (Scientific) Truth Behind What Makes You Successful with Mr. Money Mustache BiggerPockets Money Podcast 02: An All-Out Approach to Financial Independence at an Early Age with Scott Trench BiggerPockets Money Podcast 05: Jump Starting Your Early FI Plans by Live-in Flipping with Mindy Jensen BiggerPockets Money Podcast 07: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday BiggerPockets Money Podcast 29: From $200,000 in Student Loan Debt to $150,000 Net Worth in 3 Years with Nick and Alyssa Paros BiggerPockets Money Podcast 27: How to Get Even MORE from Your Travel Rewards Credit Card with Lee Huffman BiggerPockets Money Podcast 03: Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners BiggerPockets Money Podcast 25: Raising a Family While Seeking Financial Freedom with Chris and Debbie Emick BiggerPockets Money Podcast 06: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

Mindy Jensen has been buying and selling houses for almost 20 years, both as an investor and as a real estate agent. She LOVES real estate and is most passionate about taking an outdated house and turning it into a beautiful, modern home. Mindy is the Community Manager for BiggerPockets.com, and the co-host of The BiggerPockets Money Podcast. We talk about:  Needing to sell vs wanting to sell Selling as an Investor vs Home Owner Curb appeal! Staging Tips!  And Best advice for new agents out there!  Plus so much more! 

On this week’s episode of the Biggerpockets Money Podcast, we chat with Alan Donegan. Alan Donegan watched - and helped - his father run a super-successful sportswear company, until the economy shifted and they lost everything. Determined to not...

Tanja reached financial independence (FI) and retired from her full-time, high-stress job at age 38—despite not being a natural saver, having purchased two brand-new cars in the past, and not maxing out her 401(k) in the beginning—pretty much breaking every FI “rule” out there. Tanja was not focused on early retirement or financial independence when she met Mark, but quickly got on board. Her 60-hour-per-week job took up all her time and "brain space,” and more than 100 plane trips per year made it very easy to increase her savings rate to be able to achieve her goal. Hear how she reached financial independence and parlayed that into early retirement in today’s episode of The BiggerPockets Money Podcast.

There are tons of niches in real estate investing from mobile home park investing to apartment building investing. Today's guest, Mindy Jensen, joins us to chat about a very fascinating niche that is referred to "live-in flips." This is where the person fixing and flipping a house actually lives in the home as they renovate it. Mindy and her husband are financially free and credits their live-in flips as a strategy that helped them achieve financial freedom. Mindy is co-host of the BiggerPockets Money Podcast, an investor, an author, a realtor, and BiggerPockets community manager. On this jammed packed episode, we cover all types of topics including DIY tips for live-in flips, investing with your spouse, finding mentors, and much more. Here is a list of resources mentioned in this episode: How to Sell Your Home: The Essential Guide to a Fast, Stress-Free, and Profitable Sale by Mindy Jensen The book on investing in Real Estate with no money down by Brandon Turner The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller Reach out to Mindy @ mindy@biggerpockets.com Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther Please leave a comment below! Learn more about your ad choices. Visit megaphone.fm/adchoices

There are tons of niches in real estate investing from mobile home park investing to apartment building investing. Today's guest, Mindy Jensen, joins us to chat about a very fascinating niche that is referred to "live-in flips." This is where the person fixing and flipping a house actually lives in the home as they renovate it. Mindy and her husband are financially free and credits their live-in flips as a strategy that helped them achieve financial freedom. Mindy is co-host of the BiggerPockets Money Podcast, an investor, an author, a realtor, and BiggerPockets community manager. On this jammed packed episode, we cover all types of topics including DIY tips for live-in flips, investing with your spouse, finding mentors, and much more. Here is a list of resources mentioned in this episode: How to Sell Your Home: The Essential Guide to a Fast, Stress-Free, and Profitable Sale by Mindy Jensen The book on investing in Real Estate with no money down by Brandon Turner The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller Reach out to Mindy @ mindy@biggerpockets.com Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther Please leave a comment below!

Rosemarie Groner was a State Trooper - a good, recession-proof job. Chronic disorganization led to more than $30,000 in consumer debt when she made the decision to quit her job to stay home with her first child. In this episode of The BiggerPockets Money Podcast, Rosemarie shares how she cut $23,000 out of her spending, paid off her debt in less than 4 years, and grew her income to the point that her husband could also quit his day job. Rosemarie gives you actionable tips for establishing routines that will help get you organized so you can focus your energy on your budget - not your day to day tasks.

As a mom of (then) two, Erin Chase found herself shopping for groceries without a plan, picking up things that sounded good, but no idea what she’d do with them once she got them home. They made their way into the refrigerator, then on to the trash after they rotted. She knew she had to significantly cut her grocery bill if she wanted to get ahead. In this episode of The BiggerPockets Money Podcast, Erin shares how she cut her grocery bill in half - while adding two more kids to the mix. She gives actionable tips for significantly reducing your grocery bill - without clipping coupons! Don’t miss this awesome episode with Erin! Links from the Show Checkout 51 King Soopers Favado Coupons.com Albertsons Safeway  

On this first episode of the BiggerPockets Money Podcast, we speak with Mr. Money Mustache (AKA Pete) about what truly makes you a happy person. (Hint! It isn't money, and it isn't material possessions.) We'll talk about shifting your mindset to pursue financial freedom, how to live for free, tips for living a frugal life, and how to surround yourself with like-minded people. Since this is BiggerPockets, real estate comes up, too.  Don't miss this inspiring episode with one of the founders of the Financial Independence movement!

#83: When should you turn your little green rental houses into a big red apartment building? Keith and Michael Blank from Bigger Pockets discuss this. Get profit-boosting tips on both buying apartment buildings, and syndicating them. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:38  Would you rather have 40 single family homes or 40 apartment units? 05:04  Tenant mix. 10:00  Michael transitions from the pizza restaurant business into raising money for real estate. 11:58  Running out of money is not your problem. It’s your opportunity. 12:31  RE Investor vs. RE Entrepreneur. 13:25  For syndicators, it’s easier to find the money than the apartment deal. 14:52  How do you find “the deal” today? 15:55  How do you get your offer accepted in a competitive climate? 21:26  Panama coffee parcel discounts up until June 30th. 23:32  Ways to increase a property’s NOI and cash flow. 28:06  Valuation advantages of apartment buildings over smaller properties. 29:14  How to get started in apartment building investing. 33:05  Mentally moving yourself from an RE Investor to an RE Syndicator. 34:32  Real estate problems and lessons. Michael’s worst deal turned out well. 39:30  In life, “Be Intentional.” 43:20  Keith's take on some expenses that apartment investors fail to consider. Resources Mentioned: TheMichaelBlank.com/GRE - Get Michael’s free e-Book. “The Secret To Raising Money (To Buy Your First Apartment Building)”. Rich Dad, Poor Dad - Life-changing Robert Kiyosaki book cited by Michael. Get a Proof Of Funds letter for $5 - https://cogocapital.com/lp/home/get-a-proof-of-funds-letter/ Loopnet.com | Ccim.com | Ten-x.com - Resources for apartments, deals, and brokers. CorporateDirect.com - Garrett Sutton’s company builds your business structure and protects your assets. Mention “Get Rich Education” for a free bonus. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. Coffee@GetRichEducation.com - Send an e-mail here for coffee parcel discount. MidSouthHomeBuyers.com - Top-Notch turnkey rental property in Memphis, Tennessee. GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen! Want a free GRE logo decal? We’ll send you one if you write a podcast review! Here’s how to write one at: iTunes, Stitcher, and Android.  Send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com for your decal.