From $40K Debt to Financial Independence and 140+ Rentals in 7 Years [Video]

Episode #574

Episode Show Notes: https://link.chtbl.com/Money

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The combination of saving money and buying rentals is a recipe for reaching financial independence much faster than you thought possible. Just ask today’s guest, who started with tens of thousands of dollars in debt but was able to achieve FI in just a few years!

Henry Washington is a real estate investor, author of “Real Estate Deal Maker,” and co-host of the “On the Market” podcast, but he doesn’t have your typical “rags-to-riches” money story. Despite an upper-middle-class upbringing and landing a six-figure job right out of college, Henry was a serial spender. Before he knew it, he had racked up $40,000 in credit card debt and was told by banks that he was unlendable. Horrified by what his family’s future would look like on its current trajectory, Henry was determined to get his finances in check. He caught the real estate bug, attended meetups and networking events, befriended other investors, and found his first deal!

Henry went on to build and scale a real estate portfolio of over 140 units, and in this episode, he provides actionable advice that will help you break into real estate—whether you aspire to own a single rental property or twenty. Along the way, you’ll learn about “gamifying” your way to financial freedom, funding a down payment without money in the bank, and the recession-proof investing strategy Henry still uses today!

00:00 Intro
01:10 Racking Up $40K Debt
06:06 Catching the Real Estate Bug
11:24 “Gamifying” Finances & Networking
16:37 Henry’s First Deal
24:18 Making Your Own Luck
30:17 Henry’s Current Portfolio
36:26 Saving His Rental Income
43:22 How to Get Started in 2024
46:39 Connect with Henry!