290: Finance FAQs: Renting vs. Buying, How to Pay Off Debt, & Creative Real Estate Closings

290: Finance FAQs: Renting vs. Buying, How to Pay Off Debt, & Creative Real Estate Closings

Renting vs. buying a home, debt payoff, and the best investments of 2022 are just a few of the topics discussed in this week’s Finance FAQs. That’s right, we’re here with a new segment where Scott and Mindy take your questions directly from the BiggerPockets Money Facebook group and give answers so you can make smarter investing, saving, and life-changing decisions. In this episode, we get into questions from a range of different financial situations. We have questions about debt payoff schedules, whether to sell stocks and invest in real estate, why “safe” investing may not be smart investing, and what to do when three-quarters of a million dollars are given to you. Scott and Mindy not only answer these questions the best they can, but they also give the “why” behind the financial decision so you can be better equipped when situations like this come up in your own life! If you want to ask a question or give us feedback about this new format, you can do so on the BiggerPockets Money Facebook Group or leave a comment on the BiggerPockets Money YouTube channel. We’ll try and round up the most commonly asked questions so Scott and Mindy can keep the wealth-building wisdom coming! In This Episode We Cover The safest investment vehicle in 2022 (and why safest doesn’t always mean best) Whether to pay off student loans or invest in retirement and real estate Which debt to pay off first so you can coast to debt-free freedom Renting vs. buying in today’s hot housing market and how to decide for yourself Funding home renovation projects (even when contractor costs are high!) House hacking and using it to lower your expenses, grow net worth, and build financial runway And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Twitter Apply to Be a Guest on The Money Show Podcast Talent Search! Follow Along Mindy’s Live Budget Tracking BiggerPockets Money Podcast 35 with Craig Curelop (House Hacking) BiggerPockets Money Podcast 267 with Robert Farrington (Student Loans) Does It Make More Sense to Rent or Buy in Today’s Real Estate Market? A Beginners Guide to Hack Your Housing and Live for Free Pay Off Debt or Invest? Check the full show notes here: https://www.biggerpockets.com/blog/money-290 Learn more about your ad choices. Visit megaphone.fm/adchoices

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9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

What would happen if someone had early financial independence in mind right out the gate, upon graduating college? Imagine the amount of money that person could stockpile... Today’s guest had exactly ...

26 Helmi 201856min

8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche

8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche

Tiffany Aliche grew up talking about money. Her dad was an accountant,  her mother actively  engaged the children in grocery  shopping and other areas of finance. She was a teacher at a private school...

19 Helmi 201855min

7: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday

7: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday

Mr. and Mrs. Waffles on Wednesday (WoW) were doing everything wrong. They ran up ridiculous tabs at a local restaurant/bar just ‘hanging out,’ while getting abysmal returns from their financial planne...

12 Helmi 20181h 10min

6: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

6: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

Are you tired of hearing success stories from folks who are earning $60,000, $80,000, or even $100,000 or more paying off debt and moving toward financial freedom? Where’s the inspiration for the fol...

5 Helmi 201832min

5: Jump Starting your Early FI Plans by Live-in Flipping with Mindy Jensen

5: Jump Starting your Early FI Plans by Live-in Flipping with Mindy Jensen

Mindy was born in a small town, and then she moved and moved and moved. In fact, moving doesn’t phase her at all, which plays right into the core component of her investment strategy -- The Live-In-Fl...

29 Tammi 201853min

4: From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner

4: From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner

Rosemarie Groner was a State Trooper - a good, recession-proof job. Chronic disorganization led to more than $30,000 in consumer debt when she made the decision to quit her job to stay home with her f...

22 Tammi 201857min

3: Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners

3: Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners

As a mom of (then) two, Erin Chase found herself shopping for groceries without a plan, picking up things that sounded good, but no idea what she’d do with them once she got them home. They made their...

15 Tammi 201854min

2: An All-Out Approach to Financial Independence at an Early Age with Scott Trench

2: An All-Out Approach to Financial Independence at an Early Age with Scott Trench

Scott Trench wanted something more out of life, so he grabbed it by the horns and pointed it in the direction HE chose. By accumulating a large financial runway through a 50% savings rate on a median ...

8 Tammi 20181h 3min

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