274: Finance Friday: What’s The Best Way to Buy Rentals—Partnerships or Solo?

274: Finance Friday: What’s The Best Way to Buy Rentals—Partnerships or Solo?

Rental properties can be a phenomenal second source of income for the majority of us who work at regular jobs. One or two rental property purchases every year or so can slowly, but surely, build a strong foundation for financial independence, sometimes within only a few years. Today’s guest Connor has taken this approach to wealth building and now sits on six rental units, splitting some of the profits with his partners. Connor runs a lot of the operation for these rental properties. He has a background in construction management, making him an integral piece of any future BRRRR, flip, or rehab project he and his partners decide to take on. But, could these real estate partnerships be slowing down his personal wealth growth? And if so, how does he mitigate the risk of being an independent investor in a cash-intensive business? Aside from his real estate portfolio, Connor also wants to simplify his personal portfolio, plan for future baby expenses, maximize his retirement, and get a better handle on his financial situation in total. Scott and Mindy leave Connor with some clear action items that may help him achieve financial freedom in his five to seven-year time horizon! In This Episode We Cover Real estate partnerships and establishing the value that you bring to them Generating more income (and reducing expenses) through live in flips and house hacking Land contracts and seller financing on rental properties that allow you to scale faster Student loan repayment, deferral, and when you should plan on starting up your payments again Shopping for a baby as frugally as you can so you can invest for their future And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

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AVUV vs VTSAX: Why Small Cap Value Could Outperform

AVUV vs VTSAX: Why Small Cap Value Could Outperform

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Paul Merriman’s 4-Step Portfolio Strategy for Long-Term Wealth

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In this episode of the BiggerPockets Money podcast, hosts Mindy Jensen and Scott Trench are joined by Paul Merriman. Paul shares decades of investing wisdom and explains why simple index investing oft...

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Debate: AUM vs Flat Fee Which is Better?

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How We Built a $1M Net Worth by 32 (Step-by-Step Breakdown)

How We Built a $1M Net Worth by 32 (Step-by-Step Breakdown)

Trevor and his wife reached a $1 million net worth by age 32 and are on track to achieve financial independence well before 40. In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen a...

3 Helmi 55min

The 4% Rule Was Never Designed for FIRE’s Healthcare Reality

The 4% Rule Was Never Designed for FIRE’s Healthcare Reality

The 4% rule has a major flaw: it doesn't account for healthcare costs. If you're planning to retire early, health insurance premiums will rise sharply as you age—from your 30s through your 60s before ...

30 Tammi 57min

The Major MONEY Milestones To Hit By EVERY Decade!

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Are you on track to achieve financial independence? In this episode of the BiggerPockets Money podcast, Mindy Jensen and Scott Trench outline the essential financial milestones for your 20s, 30s, 40s,...

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