223: How to Become Set for Life Through House Hacking, Frugality, and Maximizing Your Income with Scott Trench

A lot of people want to achieve financial freedom—but many who start the journey never arrive. So what’s the best way to truly set yourself up for success in achieving financial independence and wealth?

That’s the topic of today’s show, where we sit down with Scott Trench, author of Set for Life,to discuss some of the simple yet powerful, tactics people can use to increase their income, reduce their expenses, and lead a legendary life.  

In This Episode We Cover:

• A little bit on Scott‘s background
• The path to early financial freedom
• How to house hack your way to a portfolio of properties
• Tips for using the BRRRR method
• How to invest despite what the market situation is
• An introduction to the book Set for Life
• The three stages of wealth mentioned in the book
• What you should know about the “financial runway“
• The bonuses that comes with the book
• A discussion on making more money
• The importance of finding a job you love
• How to get the set of skills you need to succeed
• Scott’s advice to those who are getting their first deal
• And SO much more!

Links from the Show

• BiggerPockets Forums
• BiggerPockets Podcast 099: 3 Personal Finance Bloggers & Their First Real Estate Investment with Scott, Lauren, and Philip (podcast)
• Ben Leybovich’s BP Profile
• Jered Sturm’s BP Profile
• How to “Hack” Your Housing and Get Paid to Live for Free (blog)
• BiggerPockets Podcast 217: How to Work Less and Earn More Using the 80/20 Rule with Perry Marshall (podcast)
• Your First Home Purchase Could Be a Horrendous Financial Decision. Unless… (blog)
• Investors: Don’t Shoot for 100+ Properties. Aim for Bigger & Better With THIS Strategy. (blog)
• How I Went From $0 Net Worth to Qualifying for $1M in Real Estate Financing in 2.5 Years (blog)
• Am I Missing Something, or Is Real Estate Investing Really Not That Hard? (blog)

Books Mentioned in this Show

• Set for Life by Scott Trench (email setforlife@biggerpockets.com)
• The Book on Rental Property Investing by Brandon Turner
• The ONE Thing by Gary Keller and Jay Papasan
• Rich Dad Poor Dad by Robert T. Kiyosaki

Tweetable Topics:

• “It’s not just about being thrifty or cheap; it’s about being smart.” (Tweet This!)
• “Because we were responsible financially, we were able to take risks.” (Tweet This!)
• “Understand that what I’m doing today is what I need to get to the next level.” (Tweet This!)

Connect with Scott

• Scott’s BiggerPockets Profile

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