Calculated Risks in Real Estate Investing

This chapter explores the speakers' recent acquisition of a sixplex property, emphasizing their strategies for identifying undervalued assets and maximizing profitability. The discussion balances the importance of calculated risks with the need for decisive action in real estate investing.

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If you follow the almost unbelievable path of today’s guest, you, too, could achieve financial independence in your thirties. Would we recommend mimicking his strategy step-by-step? No! Because if you get it wrong, you could be further from FIRE than when you started. Only the most prudent, risk-tolerant, and financially savvy among us could do what Andrew Schrader did.

After racking up six figures in car loans and student debt, Andrew knew something needed to change quickly. Thanks to his financial discipline, he paid his debts down fast, but what would he now do with the money he was sending toward debt every month? After a coworker threatened to quit on the spot without a care in the world (the coworker was FI), Andrew knew exactly what his next goal was.

So, he set out to do the impossible: Stretch his dollar as frugally as possible, spending in a year what many Americans live off of for a month and taking calculated bets that he knew the risks of. His unbelievable journey to FI will have you squirming in your chair (like Mindy did!) as you hear what incredible lengths you can go to reach your financial goals WAY faster than most Americans.

In This Episode We Cover

How to reach financial freedom in your thirties by taking “calculated” risks

The exact method Andrew used to pay off $100,000 in debt

Why house hacking may be the single best decision for FIRE-chasers

Why Andrew put an entire home renovation on a credit card when he was close to broke

Emergency funds 101 and why it’s crucial to have money in the bank when buying real estate

Saving tons of money by cutting out a “category” every month

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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