465: Finance Friday: Should I Double Down on Real Estate or Start a Side Hustle?

465: Finance Friday: Should I Double Down on Real Estate or Start a Side Hustle?

When people hear the term “passive income,” their minds usually flash to real estate investing. But, taking on real estate debt may not be the best option for you—especially if you have a high-risk financial portfolio. Instead, you might be better off starting a side hustle that brings in extra dough without huge startup costs or a massive time commitment! Kayla is a healthcare sales professional who has just bought her first property—a beautiful townhouse that she plans to house hack with a couple of friends. Although she was able to get a loan with a low interest rate from a private lender, there are several risks involved that keep Kayla awake at night. With a hard deadline to refinance the mortgage in five years and a potential recession looming, Kayla must reassess her five-year plan and determine the most viable path to financial freedom. Fortunately, Scott and Mindy are here to help her out! If you’re feeling a little uneasy about 2024’s recession risk, you won’t want to miss out on the many nuggets of wisdom shared in this episode. You’ll learn the best ways to offset a high-risk portfolio, the importance of building your cash position in case of emergency, and how to supplement your W2 salary with REAL passive income! In This Episode We Cover How to offset high levels of risk in your financial portfolio Supplementing your W2 earnings with passive income opportunities Side hustle ideas you can start with a few hundred dollars (or less!) How to get a low-interest mortgage in today’s housing market Subsidizing your mortgage payment by house hacking The emergency fund you NEED on hand for a worst-case scenario And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Scott's Instagram Mindy on BiggerPockets Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment How Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper Choosing Side Hustles (& Happiness!) Over Full-Time Employment Making Money From a Legitimate Side Hustle With Mark Wills More Money in Less Time: How to Start a Profitable Side Hustle Click here to check the full show notes: https://www.biggerpockets.com/blog/money-465 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Avsnitt(747)

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 Jan 57min

The Major MONEY Milestones To Hit By EVERY Decade!

The Major MONEY Milestones To Hit By EVERY Decade!

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,...

27 Jan 47min

The Proven Path to Financial Independence by 44

The Proven Path to Financial Independence by 44

Should you retire the second you hit financial independence, or is there value in working just a little longer? Steven faced this exact decision at 40 and chose to work four more years. The result? He...

23 Jan 49min

How to Negotiate Your Salary and Reach Financial Independence Faster | Paula Pant

How to Negotiate Your Salary and Reach Financial Independence Faster | Paula Pant

Want to reach financial independence faster? The quickest path isn't extreme frugality—it's earning more. And that starts with salary negotiation. Paula Pant from the Afford Anything podcast joins Mi...

20 Jan 1h

Reached FI at 60: How to Switch from Accumulation to Drawdown with Bill Yount

Reached FI at 60: How to Switch from Accumulation to Drawdown with Bill Yount

You've hit financial independence—now what? How do you actually start spending the money you've spent years accumulating? Bill Yount reached FI at 60 after a 10-year journey, and he's figured out the ...

16 Jan 53min

Broke and in Debt at 50? How to Still Retire On-Time (Step-by-Step Plan)

Broke and in Debt at 50? How to Still Retire On-Time (Step-by-Step Plan)

You're in your 50s, $50,000 in debt, and retirement at 65 feels impossible. We made this episode for you. Today, Mindy and Scott spell out the exact step-by-step plan to go from $50K in debt to a mill...

13 Jan 1h 8min

How to Reach Coast FIRE (The Relaxed Way to Retire!)

How to Reach Coast FIRE (The Relaxed Way to Retire!)

What if you didn't have to save 70% of your income to retire early? What if you could hit a number in your 30s, ease off the gas, and still reach financial independence—without sacrificing your presen...

9 Jan 51min

How to Retire Early: A 15-Year Plan to Go from $1,000 to FIRE

How to Retire Early: A 15-Year Plan to Go from $1,000 to FIRE

What if you're doing FIRE in the wrong order? Most people chasing financial independence are following steps that actually slow them down—and it could be costing you years of freedom. In this episode,...

6 Jan 50min

Populärt inom Business & ekonomi

framgangspodden
varvet
rss-jossan-nina
svd-tech-brief
badfluence
rss-borsens-finest
rss-svart-marknad
uppgang-och-fall
bathina-en-podcast
lastbilspodden
tabberaset
rss-inga-dumma-fragor-om-pengar
avanzapodden
fill-or-kill
rss-dagen-med-di
rss-kort-lang-analyspodden-fran-di
borsmorgon
24fragor
rss-veckans-trade
montrosepodden