BiggerPockets Money Podcast

4 Ways to Make Passive Income from Real Estate (Don’t Quit Your 9-5!) w/Devon Kennard

Oct 11, 2024

In this engaging discussion, Devon Kennard, a former NFL linebacker turned real estate investor and author of "Real Estate Side Hustle," shares his journey from the football field to financial freedom. He highlights four effective strategies for generating passive income in real estate while maintaining a day job. Devon stresses the importance of financial planning, the risks of shady syndications, and how small wins can lead to bigger success. Listeners gain valuable insights on balancing investments and career while achieving their financial goals.

58:09

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Episode guests

Devon Kennard

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Episode notes

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Quick takeaways

Devon Kennard highlights that increasing income through side hustles is crucial for speeding up financial independence and investment potential.

His journey from NFL player to real estate investor emphasizes the importance of delayed gratification and strategic financial planning.

Kennard identifies four passive income streams—single-family properties, syndications, private lending, and commercial real estate—designed for those with demanding careers.

Deep dives

Importance of Earning More Through Side Hustles

Increasing income is essential for accelerating financial independence, and side hustles play a crucial role in this process. Engaging in side hustles allows individuals to boost their earnings significantly, which in turn can enhance their investment potential. By diversifying income sources, it becomes easier to expedite savings and investments, ultimately leading to financial freedom. Exploring various side hustle options can supercharge financial growth and provide the necessary capital for strategic investments.

Intro

2min

Navigating Finances Beyond the Field: An Athlete's Perspective

5min

From Rookies to Financial Savvy

6min

Navigating Real Estate Investment While Employed

3min

From Sports to Real Estate: Building Foundations

10min

Navigating Real Estate Investment Strategies

17min

Navigating Real Estate Investments

13min

Strategies for Passive Income in Real Estate

3min

Real estate investing is one of the best vehicles for building wealth, reaching financial independence, and saving for retirement, but you don’t need to become a full-time investor to reap the benefits. If you have no plans to leave your W2 job or manage rentals, there are several ways to use real estate for passive income!

Welcome back to the BiggerPockets Money podcast! When Devon Kennard entered the NFL, he ran into more money than he had ever made. But with no guarantee of a pay raise or second contract, Devon forewent the flashy car and multi-million-dollar home and started saving and investing instead. Shortly after buying his first rental property, Devon realized that he was going to need passive or semi-passive income streams if he wanted to have success on the football field. He landed on four different types of passive investments that have helped him scale his portfolio to twenty-nine doors and over forty syndications!

In this episode, Devon talks about the importance of increasing your income in your working years and why small wins make all the difference early on in your investing journey. You’ll also learn about the dangers of “shady” real estate syndications and how to properly vet an operator, as well as the differences between fast and slow money!

In This Episode We Cover

How Devon scaled his real estate portfolio while playing in the NFL

Four passive real estate investing strategies you can use today

Speeding up your financial independence timeline with real estate side hustles

Fast money versus slow money (and which bucket you should be filling)

The pros and cons of syndications and how to weed out “shady” operators

And So Much More!

Links from the Show

Mindy on BiggerPockets

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