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Join Mindy Jensen and Scott Trench (from BiggerPocketsMoney.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and reach financial independence.
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Turning a man cave into a “money cave” Airbnb making thousands of extra dollars a month? It doesn’t get more house-hackable than this! Ron Curtis was able to pick up his first home in a pricey area for only a few thousand dollars. But how he funded his “money cave” is even more impressive. Within just hours, Ron was able to get $20K to renovate and rehab his basement unit, turning a few thousand dollars into two fully-furnished units and a house hack that pays his mortgage for him. Want to hear how he did it? Tune in!
Ron is a serial entrepreneur. If it makes money, Ron has tried it. From renting cars on Turo to managing Airbnbs, starting his own credit repair and financial coaching consultancy, and turning his primary residence into a cash-flowing short-term rental, Ron isn’t messing around. He does all this while still having a typical W2 job, allowing him to save almost all the income he collects so that he can invest even faster. But, just five years ago, Ron was in a different financial state.
After blowing five figures on travel, trips, and going out, Ron took a step back and looked at all the credit card debthe racked up. Thanks to a helpful coworker, he was able to pay it off without succumbing to twenty-plus percent interest rates. Ron used this same strategy to help his friends pay off their debt and eventually start coaching. Now, running multiple cash-flowing businesses, Ron has side hustles that outpace most people’s nine-to-five. So how does he do it all with just twenty-four hours in the day? He’ll share his secrets in this episode!
In This Episode We Cover
The two easiest ways to escape credit card debt (and which one Ron recommends)
Low money down real estate loans and the mortgage programs you MUST know about
Starting your side hustles and the true cost of building a business
Short-term rental house hacking and turning spare space into extra cash
Outsourcing and delegating using VAs (virtual assistants) so you DON’T have to work for your business
Business credit cards and using yours to buy assets that will make you richer
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Connect with James BiggerPockets
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-420
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Side income streams are your way out of breaking even every month. If you’re like most Americans and find your savings stagnating, without much room for growth, it might be time to look at opportunities outside your nine-to-five. This is exactly what today’s guest, Liz, did by becoming a real estate agent and growing her seasonal business. But, Liz is in one of the northernmost states, where winters are harsh and home sales halt once the snow falls.
Liz wants to grow her real estate agent side income into a full-blown business, but how can she do so when half of the year is too cold to show houses? If you have seasonal income or an infrequent side hustle to help pay your bills, this is an episode for you! Mindy and Scott will walk through how Liz, or any other entrepreneur, can use the sunny season to grow their businesses to new heights, strengthen their savings, and invest the rest so early retirement isn’t just some far-off dream.
Liz also needs to know where her money is best put to use. With a serious cash cushion, she’s debating whether or not having a large amount of cash is worth the financial stability or if investing it for passive income is a better option. With her own primary residence coming close to closing, what should Liz do with her hard-earned cash?
In This Episode We Cover
How to turn a seasonal income stream into a full-time business that pays your yearly salary
What to do when you’re breaking even every month (EVEN with low expenses)
Becoming a real estate agent and how to find leads in untraditional ways
Cash reserves and where to invest your money when you have too much
REITs (real estate investment trusts) vs. index funds and which makes more passive income
When to pay off debt vs. keeping cash in a high-yield savings account
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-419
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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An online side hustle that replaces your $100K salary in year one!? It sounds like an impossible feat, but today’s guest was able to achieve this by launching an unusual ecommerce business—allowing his wife to quit her job and stay at home with their kids full-time!
Welcome back to another episode of the BiggerPockets Money podcast! Today, we’re chatting with Steve Chou, a serial entrepreneur, ecommerce influencer, and founder of MyWifeQuitHerJob.com. When Steve’s wife became pregnant with their first child, he was faced with the challenge of finding a side hustle that could replace his wife’s 9-5 income. Of course, living in Silicon Valley isn’t cheap, and replacing a $100K salary is much easier said than done. Despite these hurdles, Steve was able to turn one brilliant idea into a profitable business that has managed to grow every year since 2007.
If you’ve always wanted to start your own side hustle but are unsure where to begin, this episode is for aspiring entrepreneurs like you! Tune in to hear Steve share about the humble beginnings of his handkerchief side hustle, how to find ecommerce success in 2023, and achieving financial freedom without burning out. As always, Mindy and Scott bring their own financial expertise to the table and deliver some timely wisdom!
In This Episode We Cover
Why you NEED a side hustle to make life-changing money
How to launch a successful ecommerce business in 2023
Building a business with the goal of replacing your 9-5 salary
Staying relevant, outlasting AI, and achieving longevity in your business
How to arrive at “enough” so that you enjoy financial freedom without burning out
The best ways to protect your business against intellectual property (IP) theft
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
Grab Your Copy of “Set for Life: An All-Out Approach to Early Financial Freedom
The Most Profitable Skill to Learn (From a $200M+ VC Investor)
Pre-order The Family First Entrepreneur and Get $690 in FREE Bonuses
Learn How to Start a Thriving Ecommerce Business
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-418
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Pet insurance probably isn’t a top priority for you right now. Your budget might have health, car, and home insurance, but pet insurance? Is it really worth the cost? Today we talk to David, an engineer and part-time wilderness trip guide, who was hit with an astonishing amount of vet bills after his beloved four-legged friend, Blaze, was diagnosed with Lymphoma. This unexpected bill damaged David and his wife’s investing plans, but not all hope is lost.
If you have a dog, cat, rabbit, lizard, or other non-human friend (sorry, your kids don't count) living at home, this is an episode for you! We’ll get into the nitty-gritty of what happens when your pet has an unexpected medical diagnosis, leaving you with a mortgage-sized bill to pay every month. While many of us have animal companions that make our life whole, few realize the cost of paying for treatment when a life-threatening disease comes into play. You’ll hear about thepros and cons of pet insurance, whether or not it’s actually worth it, and the hard choices you may have to make when adopting or purchasing a pet.
But it’s not all bones and hairballs in this episode. Our guest David also has some exciting news about a six-figure business he and his wife are building. With David’s wife itching to start taking this income stream to new heights, David is debating whether or not giving up one of their stable incomes is worth the hit to their retirement accounts. Thankfully, Mindy and Scott find a workaround to keep them in a FIRE-first position!
In This Episode We Cover
The true cost of a sick pet and how to deal with six-figure vet bills
Pet insurance pros and cons and what to look for when choosing a policy
Serious side hustles and how to turn yours into a six-figure income stream
Keeping your stable job vs. following your passion and starting a business
Why reaching financial independence fast IS NOT for everyone (and what to do instead)
Cash reserves and why keeping your expenses low will help you deal with medical emergencies
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
Take a Trip with Blaze Adventure Tours
Pet Insurance Links:
Mid-Atlantic Federal Credit Union HELOCs
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-417
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Want to replace your nine-to-five? You'll need to know how to buy a business. And while you may think that you need to be some high-level executive or business-building savant, the reality is that TONS of profitable businesses are selling for pennies on the dollar, just waiting for you to come in, scoop them up, and start making six (or even seven) figures without doing all the work. This is the EXACT strategy that Codie Sanchez used to leave her high-paid banking career to make millions running so-called “boring” businesses.
Whether it’s a laundromat, landscaping service, or law firm, businesses are up for sale without you even knowing it. You DON’T need to be an industry expert to get in on any of these deals. Many of the businesses that Codie has bought have been outside of her core competency. She’s gotten so good at business-buying that Codie now helps other want-to-be entrepreneurs get out of their jobs and into businesses that’ll help them build wealth. Codie’s ten simple steps to business buying can help ANYONE buy, build, and profit from a “boring” business.
Codie breaks down exactly why she left the big paychecks behind to start buying businesses, the repeatable steps to acquiring and growing a business, which business you should be looking for, and five to NEVER buy. You’ll also hear how she funds these business purchases and what to do AFTER buying a business that massively multiplies revenue and makes you millions!
In This Episode We Cover
The “boring” businesses that can replace your salary and make you a millionaire
How to buy a business from start to finish and five business types you MUST avoid
Jobs vs. businesses and how to ensure you buy cash flow, not another nine-to-five
Codie’s buy box and EXACTLY what she looks for when acquiring a business
Where to find funding for business purchases (and which sellers will offer you financing)
Hiring, firing, and becoming the CEO of your first business
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
Hear Past BiggerPockets Episodes with Codie:
The Cash-Flow Boosting Businesses that Savvy Real Estate Investors Own
The MOST Profitable Skill to Learn (From a $200M+ VC Investor)
How to Buy Yourself a 6-Figure Income Stream w/Tim Delaney
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-416
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Retirement is always some far-off goal. When you’re older and much more wealthy, you can live the golden years of your life without a care in the world. The problem? None of us know how much time we have left, how healthy we’ll be as we age, and whether or not these years are the best we’ll ever get. So, why wait to retire in your sixties when it’s possible to retire in your twenties, thirties, forties, or fifties? If you had the choice to live your ideal life NOW, wouldn’t you choose to do so?
On this Finance Friday episode, we talk to Sara, who had a recent wake-up call about waiting for retirement. While on a casual run, Sara suffered sudden cardiac arrest, prompting her to be put into a medically-induced coma. Without any signs of something like this happening, Sara started to ask whether or not she was living her life to the best of her ability and if waiting for retirement age was worth the risk.
With six figures in student debt from her husband but solid salaries to support their low-cost-of-living lifestyle, Sara wants to know how she can transition to part-time work while still saving and investing for early retirement. Thanks to smart decisions Sara has made, she’s in a phenomenal position to take her foot off the gas, but how can she do so without sacrificing her future?
In This Episode We Cover
Student loans and whether to pay off debt or invest for early retirement
Switching from full-time work to part-time hours while keeping benefits and saving your sanity
Planning your “ideal life” and why waiting until traditional retirement age could be a big mistake
Cash reserves and how much you should have when planning to leave a full-time salary
Building your investment plan based on what you (and your partner) really want out of life
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan
How to Retire Early (From Someone Who Did at Age 27)
Should You Pay Off Debt or Invest?
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-415
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Wish you had a few money hacks to help with things like getting out of debt, finding the right assets to invest in, and growing your nest egg? The average person may not even know where to start! Today’s guest is using her platform to help simplify money concepts and improve financial literacy at a time when it is sorely lacking.
Welcome back to another edition of the BiggerPockets Money podcast! Today, we’re joined by Nicole Lapin, founder of the Money News Network, host of Money Rehab with Nicole Lapin, and author of multiple New York Times and Wall Street Journal bestselling books, including Rich Bitch, Boss Bitch, Miss Independent, and Becoming Super Woman. Born into a first-generation American family, Nicole lacked financial literacy early on in life and was easily intimidated by financial concepts. Only after learning the language of money was she able to take control of her finances and pay off the consumer debt she had accumulated.
In this episode, Nicole spills some of the top money hacks she has learned over the past 20 years. Wherever you are in your financial journey—whether it’s neck-deep in consumer debt or well on your way towards achieving financial independence and retiring early—you won’t want to miss what Mindy, Scott, and Nicole have to share about investing in today’s climate, assessing your risk tolerance, and making the most out of your money!
In This Episode We Cover
Money hacks for investing and rehabbing your personal finances
Two methods of getting out (and staying out) of consumer debt
How to create a “spending” plan using the “three E’s”
Living below your means to fast-track your journey towards financial freedom
How to assess your risk tolerance and find the right assets to invest in
An alternative to financial independence, retire early (that could allow you to “retire” even sooner!)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
The Pillars of FI: Designing the Life You Want
12 Things to Give Up to Become Debt-Free This Year
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-414
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Early retirement is possible for almost anyone, no matter where you start or how much you make. If you can sacrifice and save more than you spend, there’s a good chance you could retire years or even decades earlier than the rest. In fact,you can retire early on a median income salary without any retirement savings to start with…but you’ll need to do one crucial thing. As you’ll see from today’s guests, David and Danielle, one smart purchase may have set them up for life!
We’re back with another Finance Friday, where we talk to David and Danielle, two median-income earners trying to figure out the right path to early retirement. After Danielle’s sales-based burnout, the couple has been surviving with just one income, cutting it close every month. But, with a return to work on the calendar for Danielle, the chances of financial freedom are looking bright. But where do they go from here?
With David and Danielle’s real estate dreams, Scott and Mindy come up with a handful of ways that this couple could use their primary residence to bolster their chances of early retirement and allow them to save a significant amount of money every month. So if you feel like you’re starting over on the path to FIRE and don’t know which move is right, this is an episode for you!
In This Episode We Cover
How to use your home to retire early and start investing
Grocery shopping, food bills, and how to stop eating your money every month
Legal fees and accounting for lawyer bills during an ongoing dispute
House hacking and living for free while renting out spare space
Assumable loans and upgrading your property when you have LOTS of equity
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
House Hacking: A Beginners Guide to Living for Free
Grocery Shopping Got a Hold on Your Wallet? Check Out These Episodes: Cutting Your Grocery Bill in Half
The Most Efficient Path to Financial Freedom
Food Spending Eating Away at Your FI Plans? Here’s How to Eat for Cheap
Slash Your Food Budget by $150+ Per Week with EASY, Healthy, and Tasty Meals
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-413
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While the job of a full-time content creator might seem glamorous from the outside looking in, make no mistake—there’s plenty of work involved, and it’s not always easy to get your business off the ground. Our next guest spent years building up her content creation platform while continuing to work her nine-to-five tech job before she made her first six figures!
Welcome back to another episode of the BiggerPockets Money podcast! Today, Scott and Amanda are joined by Gabrielle Judge, a content creator and emerging thought leader for the Gen Z workforce. Gabrielle is helping to usher in the next phase of work-life balance with “quiet quitting”—an oft-misunderstood concept that has less to do with being lazy and much more to do with assessing your return on investment (ROI) at work and creating space for your other goals and passions.
Whether you’re interested in content creation or tired of working for “the man,” you won’t want to miss out on all that Gabrielle has to share. She offers a handful of top tips on how to cultivate a side hustle so that it one day becomes a full-time job—including credit card stacking to access a large line of credit for new business ventures, becoming a hard money lender, and using Chat GPT to help you leave your current job and land your next one faster!
In This Episode We Cover
The real meaning of “quiet quitting” and how to set boundaries at work
Growing a side hustle and turning it into your full-time job
Viewing yourself as a business and evaluating your ROI at work
Credit card stacking to access a large, unsecured line of credit
How to become a bank for someone else through hard money lending
Leveraging Chat GPT to streamline the job application process and get a bigger paycheck
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
The Real Estate Rookie Podcast
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
She Wolf of Wall Street Website
10 Tips For Leaving Your 9-5 and Adjusting to Life as an Entrepreneur
How to Start a Profitable Side Hustle
Start Credit Card Stacking with Fund&Grow
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-411
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!
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A debt-free homeowner with an emergency fund and a keen eye for personal finance? A few years ago, Jazmyn Gray wouldn’t have dreamed that’s how her life turned out. From a young age, Jazmyn was thrown into drug addiction, homelessness, a life of crime, and later, prison time. She was a teenage mother whose silver lining was running a successful business until she was robbed, abused, and pushed into relapsing. But that’s not Jazmyn’s whole story.
Through some entrepreneurial pursuits behind bars and putting her finances first, Jazmyn has had an almost unbelievable path to recovery. Even after her time in prison, Jazmyn was forced to pay restitution and other debts she had piled up before her incarceration. However, through a chance meeting with none other than our own Scott Trench, Jazmyn was given the master plan she needed to rebuild her financial position, even when the odds were stacked against her.
Now, in a completely different position than she was in just a few years ago, Jazmyn is ready to tell her whole story, not only to provide hope to those that need it but give actionable steps to improving your financial life. You’ll hear how she built a six-figure business within a few months, how she recently bought a house with a record low interest rate, the debt snowball method she used to become debt-free faster than most Americans, and how she’s using her rough road to help others build their own wealth.
In This Episode We Cover
Hitting financial rock bottom and starting your journey when you have nothing
Building a six-figure business and what caused Jazmyn to give up hers
Homelessness, drug addiction, and fighting to survive as a teenager
The “debt snowball” method Jazmyn used to pay off her debt in record time
Buying your first home and how to do so only a few years after being dead broke
Jazmyn’s easily-repeatable advice for ANYONE starting their financial journey
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
The Real Estate Rookie Podcast
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes
12 Things to Give Up to Become Debt-Free This Year
Get Involved with CrossPurpose
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-410
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
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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