Real Estate Rookie

369: Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley

Feb 19, 2024

Dion McNeeley shares how he achieved financial freedom in 10 years with just 16 units generating $200k cash flow. He highlights the importance of finding deals on MLS, sticking to one investing strategy, and using unique methods to increase rental income. Learn how to build a buy box, evolve investment strategies, and implement tips for rookie investors.

54:19

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Episode guests

Dion McNeeley

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Episode notes

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Quick takeaways

Achieving financial freedom in 10 years with real estate requires maximizing cash flow and playing the long game.

Finding deals on the MLS that other investors overlook can lead to profitable real estate investments.

Using the BRRRR method for real estate investing can generate enough cash flow to fund personal expenses like travel.

Deep dives

The Importance of Starting Small and Learning the Basics

Dion, a real estate investor, emphasizes the importance of starting small and focusing on learning the basics in the early stages of investing. He advises aspiring investors to aim for acquiring four properties or four units as a foundation. This approach allows individuals to gain experience in finding and screening tenants, understanding lease agreements, and managing the day-to-day responsibilities of being a landlord. Dion believes that this initial phase sets the groundwork for deciding whether to expand their portfolio to hundreds of units or prioritize cash flow from a smaller number of properties.

Introduction

3min

Journey to Financial Independence Through Real Estate Investments

7min

Maximizing Cash Flow with Short and Medium-Term Rentals

12min

Building Competence and Confidence in Real Estate Investing

8min

Developing a Buy Box

10min

Evolving Buy Box and Deon's Binder Strategy

13min

Strategies for Rental Rate Increases and Rookie Investor Tips

4min

Reaching financial freedom in ten years or less with a small real estate portfolio!? While it might seem like a lofty goal, it’s very doable when you maximize your cash flow and play the long game. If “the lazy investor” can do it, so can YOU!

Welcome back to the Real Estate Rookie podcast! When Dion McNeeley reached early retirement in 2022, he was raking in $200,000 per year from just sixteen units. Now, he’s using his newfound financial independence, knowledge, and resources to take a few more risks with his real estate investments. For his latest deal, he used the buy, rehab, rent, refinance, repeat (BRRRR) method on a house hack that generates enough cash flow to fund his travels!

It all sounds very impressive, but how on earth did he get there? In this episode, Dion shares some of the secrets and strategies that allowed him to go from $89,000 in debt to financially free within a decade. He talks about building a buy box that features a blend of market data and home attributes, as well as finding deals on the multiple listing service (MLS) that other buyers overlook. He even discusses an ingenious strategy that will have your tenants ASKING you to raise rents!

In This Episode We Cover:

How to reach financial freedom in ten years or less with real estate

Finding deals on the multiple listing service (MLS) that other investors miss

Why you should stick with ONE investing strategy for the long haul

The MOST important metric to include in your buy box

How to get tenants to ASK you to raise rents with the “binder strategy”

Why house hacking is the easiest way to start real estate investing

And So Much More!

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