Episode #587
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Episode Show Notes: https://www.biggerpockets.com/podcasts/money?utm_source=youtube&utm_medium=description&utm_campaign=none
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The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion Mcneeley:
https://www.biggerpockets.com/blog/biggerpockets-podcast-448-dion-mcneeley?utm_source=youtube&utm_medium=description&utm_campaign=none
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https://www.biggerpockets.com/users/dionm12?utm_source=youtube&utm_medium=description&utm_campaign=none
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Dion McNeeley retired in just ten years after starting from not just zero but NEGATIVE. He was forty years old with $89,000 in debt, had no assets, a low-paying job, and zero investing experience. Thanks to his “lazy” method of building wealth, he was able to amass millions of dollars in assets, create over $200,000 per year in passive income streams, and retire just ten years after starting his journey to FIRE. Can you do it, too, even in today’s markets? Yes!
Dion did what most people aren’t willing to: lower your cost of living, spend less, save more, and yes…house hack. He built a small real estate portfolio just by house hacking alone. Still, thanks to the compounding effect of real estate, Dion’s passive income from the rentals began to overtake his monthly expenses. Now, he rakes in four to five times more than he could ever spend. Who wouldn’t want a $200,000 per year income stream in retirement?!
But it’s NOT too late to copy Dion’s exact strategy. In fact, Dion is sharing why NOW is one of the best times ever to get into real estate investing and how you, too, in ten years or less, could be making major passive income and enjoying early retirement!
00:00 Intro
01:00 $89K of BAD Debt
07:00 Do This NOW!
10:58 Great News for Landlords
13:43 Dion’s $1,000,000 Mistake
16:19 No Stocks, No Bonds…Just Rentals?
18:15 “Reverse Budgeting”
19:58 Emergency Reserves and Current Portfolio
22:13 Working 2 Hours a MONTH!
23:49 Dion’s FIRE Advice
27:39 Connect with Dion!