BiggerPockets Money Podcast

$200K/Year & Early Retirement in 10 Years by Being a "Lazy" Investor

Dec 6, 2024

Dion McNeeley, a retired real estate investor who achieved financial freedom from $89,000 in debt in just ten years, shares his inspiring journey. He emphasizes the power of a 'lazy' investing method, using house hacking to build passive income streams. Dion debunks myths about the housing market, urging listeners to seize current investing opportunities. Learn from his $1,000,000 mistake and uncover strategies for early retirement, such as reverse budgeting and effective property management. If he can do it, so can you!

35:20

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Episode guests

Dion McNeeley

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Episode notes

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Quick takeaways

Dion McNeeley's journey from $89,000 in debt to financial freedom underscores the potential of real estate investing as a long-term strategy.

He emphasizes the importance of actionable steps tailored to one's situation, highlighting 2024 as a prime opportunity for new real estate investors.

Deep dives

The Journey to Financial Independence

Achieving financial independence can seem daunting, particularly if one is burdened with debt, but it is possible with the right approach. Dion McNeely, who began his journey at age 40 after uncovering $89,000 of bad debt, demonstrates this through his own experiences in real estate investing. He emphasizes that the most important goal for him was not creating generational wealth, but rather ensuring that he would not become a financial burden to his children. His journey showcases that, with determination and a structured plan over a decade, anyone can work towards financial freedom regardless of their starting point.

Intro

2min

Navigating Debt and Real Estate Investment

10min

Understanding Rental Market Dynamics and Investment Decisions

4min

Investment Strategies and Reverse Budgeting

5min

Cash Flow Solutions and Investment Strategies

7min

Navigating Real Estate Investment

6min

Dion McNeeley retired in just ten years after starting from not just zero but NEGATIVE. He was forty years old with $89,000 in debt, had no assets, a low-paying job, and zero investing experience. Thanks to his “lazy” method of building wealth, he was able to amass millions of dollars in assets, create over $200,000 per year in passive income streams, and retire just ten years after starting his journey to FIRE. Can you do it, too, even in today’s markets? Yes!

Dion did what most people aren’t willing to: lower your cost of living, spend less, save more, and yes…house hack. He built a small real estate portfolio just by house hacking alone. Still, thanks to the compounding effect of real estate, Dion’s passive income from the rentals began to overtake his monthly expenses. Now, he rakes in four to five times more than he could ever spend. Who wouldn’t want a $200,000 per year income stream in retirement?!

But it’s NOT too late to copy Dion’s exact strategy. In fact, Dion is sharing why NOW is one of the best times ever to get into real estate investing and how you, too, in ten years or less, could be making major passive income and enjoying early retirement!

In This Episode We Cover

How to explode your passive income by slowly investing in real estate

Dion’s journey from $89,000 in debt and low-paying jobs to financial freedom

Why Dion encourages you to IGNORE what everyone is saying about the housing market

A $1,000,000 mistake that Dion made that you should NOT repeat (DON’T pay off your house!)

Why Dion doesn’t care about growing a big real estate portfolio (and you shouldn’t either!)

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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