Investing in real estate is a proven way to build wealth, produce more cash flow, and retire early. But, not everyone is cut out to do every type of real estate investing. Some strategies take dramatically more time and effort than others. House hacking may be perfect for investors or couples without kids, live in flips could work best for those with some rehab experience, and BRRRR investing is reserved for those with proven investing experience.
While some of these strategies are as simple as buying a house and renting out a side, others require far more of a time commitment—time that many investors, like today’s guest Jeff, may not have. Jeff is already an established investor, currently living in a house hack that’s helping him offset his mortgage. But, he wants to expand into more return-focused real estate like live in flipping and BRRRRing.
But, with a high-paying job and lots of money in the bank, Scott and Mindy ask the question, “is real estate investing even worth it for Jeff?” Should he be sticking to stocks or does a labor-intensive rehab clearly outweigh the costs? If you’re wondering whether or not you should choose the real estate investing path to FI, make sure you hear out the arguments in today’s episode.
Mindy:
Welcome to the Bigger Pockets Money podcast, show number 280, finance Friday edition, where we interview Jeff and talk about real estate investing.
Jeff:
A few years ago, I stumbled upon… I don’t know where on the internet, but FIRE. So I would like to eventually retire early. And I know, before that, you need to get financially independent first. So right now, the first steps, I guess we’re looking towards doing, are becoming financially independent. But not sure exactly if we should do it through stocks necessarily. I mean, we’ve been dabbling in this house hacking, in terms of trying to see what it’s like to be a landlord. And so far, it’s been pretty good. I mean, we think we’ve just been blessed with a…