7 Years to FIRE: How to Move Your “Lazy” Equity Now & Retire Early [Video]

Episode #539

Want to retire early? You don’t have to wait until age sixty-five. With a few cash-flowing assets and smart money moves, you could accelerate your path to retirement and enjoy your riches much sooner than you thought possible!

Welcome back to the “BiggerPockets Money” podcast! Derek has worked hard to build a $1.7 million net worth and a portfolio of six rental properties. The only problem? He wants to retire at age fifty. In this episode, Mindy and David Greene work together to get Derek on the fastest path to early retirement. If he plays his cards right—redeploying some of his “lazy” home equity, increasing his cash flow, and starting a profitable business or side hustle—he could reach FIRE in just seven years!

Are you wary of today’s sky-high mortgage rates? We share an investing strategy that allows you to buy real estate notes at a deep discount and potentially acquire properties that are worth so much more! You’ll also learn how to use your 401(k) retirement funds today without incurring tax penalties. Finally, you’ll hear about the power of starting a business and reinvesting your profits!

Show Notes at:
https://link.chtbl.com/Money
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Books Mentioned in This Episode:
“Rich Dad Poor Dad”: https://store.biggerpockets.com/products/rich-dad-poor-dad?utm_source=youtube&utm_medium=description&utm_campaign=none
“The Richest Man in Babylon”: https://store.biggerpockets.com/products/richest-man-in-babylon-biggerpockets-edition?utm_source=youtube&utm_medium=description&utm_campaign=none
“Short-Term Rental, Long-Term Wealth”: https://store.biggerpockets.com/collections/all-books/products/short-term-rental-long-term-wealth?utm_source=owned_media
“30-Day Stay”: https://store.biggerpockets.com/products/30-day-stay?utm_source=youtube&utm_medium=description&utm_campaign=none
“Real Estate Note Investing”: https://store.biggerpockets.com/products/real-estate-note-investing?utm_source=owned_media
“Lend to Live”: https://store.biggerpockets.com/products/lend-to-live?utm_source=owned_media
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Hear David on the “BiggerPockets Real Estate” Podcast:
https://link.chtbl.com/BPRE
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BiggerPockets Money – Episode 443: The Entrepreneur’s Guide to FI: A Day in the Life of a Finance Blogger:
https://www.biggerpockets.com/blog/money-443?utm_source=youtube&utm_medium=description&utm_campaign=none
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BiggerPockets Money – Episode 520: The BEST Side Hustles You Can Start in 2024 (Outside of Real Estate!):
https://www.biggerpockets.com/blog/money-520?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Derek on BiggerPockets:
https://www.biggerpockets.com/users/dwreckp?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with David on BiggerPockets:
https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none
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Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?utm_source=youtube&utm_medium=description&utm_campaign=none
Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Mindy on BiggerPockets:
https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro

01:45 $1.7M Net Worth!

10:20 Derek’s Money Snapshot

18:26 7 Years to FIRE

29:37 Moving “Lazy” Equity

39:42 Note Investing 101

48:45 Starting a Business