Do you have a cash flow problem? You’re not alone! Dan invests in real estate, has a great W2 job, and maxes out his investment accounts. He wants to hit financial independence by forty, but his lack of cash is making things difficult. Something’s got to give, and Mindy and Scott are here to help!
Welcome back to the BiggerPockets Money podcast! Dan has done an amazing job investing for the future and house hacking throughout his 20s. But now he’s got a MAJOR problem on his hands. Although he and his wife earn around $200,000 per year, they have little to no cash available. With real estate debt, hospital bills, and new baby expenses, Dan is starting to feel the pressure. That extra cash he was able to accumulate only a few years ago? It’s not so easy to find anymore.
In this episode, Mindy and Scott take a deep dive into Dan’s finances to help solve his cash flow problem. Should he follow his real estate dream and pause his retirement account contributions or pivot to a job that will increase his income by another $50,000 per year? Stay tuned to find out!
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In This Episode We Cover
- Savvy ways to increase your cash flow without taking on more debt
- Dan’s house hacking strategy that covers a HUGE chunk of his mortgage
- Using a home equity line of credit (HELOC) to buy real estate
- How to ask for a raise (and when to pivot to a higher-paying job)
- Investing in real estate versus building up your retirement accounts
- How Dan plans to reach $10,000/month in “passive” income by the age of forty
- And So Much More!
Links from the Show
Connect with Dan
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.