BiggerPockets Real Estate Podcast

Making 6 Figures Investing After Quitting His $40K/Year Job for Real Estate

Oct 21, 2024

In this conversation, Jon Boyd, a full-time real estate investor who left a $40K job to support his family of six, shares his remarkable journey. He discusses his innovative direct-to-seller marketing strategy that has helped him close over 20 deals and build a portfolio of five rental properties in just two years. Henry Washington chimes in with advice on navigating financial safety nets and the importance of building relationships with sellers. Their inspiring stories demonstrate how calculated risks can lead to significant wealth through real estate.

42:30

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Episode guests

Jon Boyd

Henry Washington

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Episode notes

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Quick takeaways

Jon Boyd successfully transitioned from a $40K/year job to a full-time real estate investor by focusing on off-market deals and direct-to-seller strategies.

His journey highlights the importance of building relationships with sellers, treating them as individuals, and understanding their unique circumstances to foster trust.

Deep dives

The Leap Into Real Estate

A significant turning point in one investor's journey is his decision to leave a steady job to pursue real estate full-time. After initially exploring real estate in his 20s, he became inspired by a pharmacist who successively invested in properties. This initial inspiration laid the groundwork for his eventual leap, which came after he realized the dissatisfaction in his job and his desire for more financial stability. Ultimately, he decided to sign a Home Equity Line of Credit (HELOC) to fund his new venture, demonstrating immense courage and commitment to following a long-held ambition.

Intro

3min

From Curiosity to Career: A Real Estate Journey

4min

From Salary to Six Figures: The Real Estate Journey

10min

From Corporate to Real Estate

9min

Navigating Real Estate Evolutions

7min

Navigating Family Dynamics in Real Estate

8min

What if you could not only replace but make MUCH more than your W2 salary with real estate investing? Now, imagine you could do it all in just two years. Sounds impossible, right? Today’s guest did precisely that, with more barriers than most. Jon Boyd left his W2 job to pursue real estate investing full-time, all while having to provide for his family of six! Now, he’s making much more than his job ever paid him and is building serious wealth in the process. How’s he doing it? It’s simple: direct-to-seller strategies anyone can try.

Unlike many real estate investors, Jon skipped heavily investing during the 2010s, so his wealth is NOT due to the rapid appreciation of 2020 - 2023. As his W2 whittled him down day by day, Jon knew he needed an exit option. So, he tried one simple direct-to-seller marketing strategy, found a great deal, made a serious profit, and decided, “Let’s go ALL-IN!”

Now, just a few years later, he’s a full-time real estate investor, doing over a dozen house flips in a year, with a portfolio of five rental properties, and making MUCH more than his job was paying. The best part? He does almost all of it himself, and if you’re willing to push past your comfort zone, you can, too!

In This Episode We Cover:

The one direct-to-seller marketing strategy Jon uses to find off-market, undervalued deals

How to plan your financial safety nets when quitting your job for real estate

How to talk to a potential seller so they feel comfortable giving you the deal

The one thing you should do before you quit your job (or you’ll regret it!)

How Jon does over a dozen house flips a year with ZERO employees

An unbelievably creative seller finance deal that most investors would never think of

And So Much More!

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