The Monetary Freedom Components Has Modified (2025 Replace)

Dave:
You presumably can acquire financial freedom by way of precise property. You merely need to be lifelike alongside together with your expectations of what financial freedom even means to you and about how we’re going to get there. I’m Dave Meyer from BiggerPockets and I’m proper right here with my good good friend Henry Washington. We’re every precise property merchants who’re on that financial freedom path correct now, nevertheless as a result of it appears, we’ve taken completely totally different approaches to achieve financial independence. Henry cease his firm job to buy leases and flip properties. I haven’t accomplished that and I perhaps under no circumstances will. At current we’re having an precise honest dialog about what financial freedom even means, the professionals and cons of assorted approaches to reaching it and which is likely to be correct for each of you. So Henry, I’ve what I really feel is type of a scorching take about financial independence and retired early that I want to share with you, nevertheless first lemme merely ask you, what do you keep in mind financial independence? What does that actually even suggest to you?

Henry:
Correctly, as soon as I first acquired started, I assumed I was going to buy some properties and so they’d pay me every month after which I won’t should work,

Dave:
Didn’t work out that methodology.

Henry:
It didn’t pretty work out that methodology. Nevertheless financial independence, what it means to me now and what I’m working in path of is to not should have energetic income. In several phrases, if I don’t want to work anymore, then I don’t should, nevertheless my income needs are met by way of air quotes, some type of passive income and precise property’s not really passive, nevertheless the idea is that I’d work decrease than 10 hours per week if I needed to and survive. That’s what financial freedom really means to me. Now that I’ve started doing this enterprise for a bit bit,

Dave:
So it’s not completely retiring and actually merely not working the least bit primarily based totally on proudly proudly owning some rental properties,

Henry:
I really feel people have gotten loads of these buzzwordy precise property goals intertwined because of financial freedom is one issue after which making adequate income by way of precise property to cease your W2 is one factor completely completely totally different than financial freedom. And usually I really feel people form of take these two goals and say or use them interchangeably. I vividly be mindful any particular person telling me, Hey, I merely hit financial freedom. I left my day job, nevertheless that doesn’t suggest you hit financial freedom. It merely means you made adequate energetic income in irrespective of else you’re doing in precise property that modified your W2 income,

Dave:
Correct?

Henry:
You’re nonetheless working, you’re merely now working in precise property, which is great.

Dave:
That’s a super degree because of So financial independence, financial freedom, interchangeable phrases in my ideas, nevertheless retiring is form of a singular issue corresponding to you had been saying, nevertheless I’m curious because you may say that you just cease your job, correct? You cease your organization job, what was it six years prior to now now?

Henry:
That’s correct. 2020,

Dave:
Yeah. So a pair years prior to now, nevertheless would you say you’re retired?

Henry:
No, no, no. I’m not retired. I’ve to do one factor to make energetic income to survive,

Dave:
Nevertheless I really feel that’s form of the brand new take, nevertheless it sounds corresponding to you type of agree is I assume I merely actually really feel like this stuff have flip into conflated to the aim the place it’s really detrimental and folk start precise property and say There’s not adequate cashflow immediately for me to retire from my job in three to five years.

Henry:
There wasn’t 5 years prior to now each.

Dave:
Yeah, besides you’re starting with 5 million bucks that I’d merely buy rental properties, all cash, you’ve always needed that energetic income after which you’ll choose whether or not or not you want that energetic income to come back again by way of precise property like Henry has, or you might choose from that energetic income to be by way of a ten 99 or a W2 job I’ve accomplished. And that’s type of the actual fact of the state of affairs. And also you notice what? It’s nonetheless good. You presumably can nonetheless use precise property investing to show into further financially neutral and likely switch your retirement date up by 30 years, nevertheless the idea that you simply presumably can retire and do nothing in 5 years simply isn’t very lifelike.

Henry:
No, that’s fully not lifelike.

Dave:
Okay, good. I’m glad you agree.

Henry:
May someone do it? I’m constructive there’s a technique someone may pull it off.

Dave:
Sure.

Henry:
Nevertheless that’s favor it’s a teeny minority of people. Most of us are going to should generate some type of energetic income as a technique to complement our lifestyle, and I really feel we merely have to be further clear about what it means because of I really feel you fully can put cash into precise property and in a course of a 5 12 months interval, determine up some rental properties after which decide how one can make adequate energetic income contained in the precise property space of curiosity to depart your W2.
And that I think about is completely attainable, nevertheless that doesn’t make you financially free. It makes you financially relying on one different income stream that you just like further and that you can leverage a lifestyle that simulates further freedom. Equivalent to you said, I’m not air quotes completely retired from any energetic income. If I don’t flip properties or help out on BiggerPockets or do a couple of of those totally different points that I do to make energetic income, then my family may be in a hard place. We cannot and don’t want to reside off of our cashflow from our rental properties, not the life-style that we benefit from. And so I’ve to have the energetic income, nevertheless because of I’ve constructed this muscle and found this skillset contained in the precise property commerce, I now have a tool or a variety of devices that I do know I can use to go generate cash and I can do this alone time and alone schedule.
And since I can do this, I can simulate freedom. If I needed to go to Europe subsequent week, I suggest I’d perhaps decide an answer to make that work. Dave, I’ve accomplished adequate presents the place constructive I’d go buy a ticket and my family and I’d go and we is likely to be gone for per week or two and my properties would proceed to get renovated and labored on and get listed out there in the marketplace and I’d benefit from my life and I’d come once more. May I do this perpetually? No, I couldn’t. Nevertheless the lifestyle and the skillset that I’ve obtained in precise property permits me to have this semblance of freedom contained in the energetic income stream that I’ve within the precise property commerce. I couldn’t do this with a W2, so I get to experience what seems to be a whole lot further freedom than I had sooner than. Nevertheless yeah, it’s essential to have some stage of energetic income.

Dave:
I really feel what you said is in order that essential, and in addition you’re saying it’s simulating freedom, nevertheless it’s precise freedom. I really feel that the difficulty is that we take care of financial independence as binary. It’s like each you’re financially free in any other case you’re not. When actuality it’s a path and the aim, at least for me has always been to easily flip into further financially neutral. Every deal you do, every financial decision you make will hopefully put you in a larger financial place so that you’ve gotten further flexibility. For some people like Henry, that flexibility is prone to be going to Europe and easily not working for a couple of weeks. For me, I leisure easy determining that if BiggerPockets decided to fire me tomorrow, I couldn’t work for a couple of years and be very comfortable and to me, wouldn’t keep in mind myself completely financially neutral because of if I left my job in the mean time, I’d want to decide energetic income an identical to you Henry. Nevertheless I’m further financially neutral than I was 15 years prior to now sooner than I started investing.

Henry:
Fully.

Dave:
And I’m further financially neutral this 12 months than I was last 12 months and the 12 months sooner than that and the 12 months sooner than that. And I actually really feel like that principally have to be, the aim is just to keep up transferring in that course because of honestly, your definition of what financial independence goes to change the sum of cash I assumed that I’d’ve needed to actually really feel comfortable as soon as I started 15 years prior to now. I handed that amount a while prior to now, let’s be honest.

Henry:
Positive, positive.

Dave:
And my expectations, I try and not have lifestyle creep, nevertheless whilst you develop previous and in addition you merely have a further delicate life, your payments merely go up. And so that’s why I actually really feel like setting this function and saying I’m financial neutral or not is just not lifelike. The aim is just to keep up making progress.

Henry:
Yeah, that’s fully true. I was a type of people as soon as I acquired started that I assumed I’d buy adequate rental properties to supply adequate cashflow in current days
That I is likely to be succesful to take the cashflow from the rental properties after which when that number of cashflow hit the number of money I made per thirty days in my day job, that I’d go away my day job and reside off of my cashflow. Nevertheless as I started to buy properties, I started to grasp that that wasn’t primarily going to be an element. I was fully searching for properties that cashflow. Nevertheless your company and your properties, they don’t carry out linearly. It’s not corresponding to you buy it after which it cash flows and nothing ever happens or goes incorrect. It merely makes you merely prints that money every month and it’s good and the world is sweet, nevertheless that’s not the case. The additional properties you buy, points break at completely totally different events. Points break all on the same time. People switch in, people switch out. There’s this mounted motion of money that it’s exhausting so that you can have the flexibility to say, okay, successfully I bought 10 properties and each property cash motion is $500 a month, and so now I’ve $5,000 every month that I merely will take out of this account and spend on my funds and the money is flowing too fluidly for that to be a actuality.
And so I noticed that if I really want these properties to pay me cashflow that I’d reside off of passively, then it’s going to happen far into the long run

Dave:
When

Henry:
These belongings are paid off. And so I wanted to pivot my method to imagine, okay, successfully how can I reap the benefits of precise property to nonetheless buy leases however moreover generate profits now so that I can proceed to develop my portfolio however moreover stabilize my portfolio after which start to aggressively repay these properties so I can hit that function sooner. That wasn’t what I assumed starting out.

Dave:
Fully. Yeah. And I want to ask you about the best way you’ve pivoted your company, nevertheless I’m merely curious, first was that disappointing to you realizing that?

Henry:
That’s an fascinating question. I don’t be mindful feeling disenchanted about it just because I was actively throughout the enterprise at the moment and knew, knew I had the foundational capability, which is I perceive how you can go buy a superb deal. All I wanted to alter was one of the best ways I was monetizing that deal, which was flipping it and getting further money upfront versus holding onto it and taking a pair hundred {{dollars}} proper right here or there. So no, it wasn’t disappointing because of I merely love the enterprise of precise property.

Dave:
Alright, we acquired to take a break, nevertheless on the other aspect, further of my dialog with Henry Washington about what financial freedom means to us. Thanks for sticking with us. Let’s bounce once more in with Henry Washington. Appears like individuals are avoiding entering into precise property because of individuals who discover themselves precise property educators, BiggerPockets as part of this have been saying, Hey, you might get precise property financial freedom in a couple of years. And like I said, all through the 2010s, it was always troublesome, nevertheless it was less complicated than it was in the mean time. It was

Henry:
Less complicated

Dave:
For constructive, nevertheless I assume I nonetheless actually really feel similar to the prospect and the value of precise property investing continues to be so sturdy that it frustrates me when individuals are like, I’m not going to get in because of now it’s going to take 10 years to be financially freedom or 15 years to financial freedom. That’s unimaginable widespread. It’s excellent. The widespread career within the US is like 45 years. You’re saying you chop it into a third if that doesn’t get you excited. I don’t really know what would, nevertheless I do actually really feel like, I don’t know once you hear this too, nevertheless I hear people saying like, oh, I can’t uncover cashflow. I’m not going to get into it. Nevertheless the basics haven’t really modified. That’s form of always the best way it’s labored.

Henry:
The fundamentals are they haven’t modified. They’re further essential now than they’ve ever been, correct? It’s the fundamentals it’s essential to stick with now as a technique to obtain success, nevertheless that is among the greatest methods to hurry up that path in any methodology {{that a}} common specific individual may. Can you do it in numerous pathways? Can you do it throughout the stock market? Nevertheless you acquire to get really good at shopping for and promoting shares. Fully. Nevertheless the widespread specific individual in precise property can do this with out being an professional precise property investor and that’s unimaginable.

Dave:
Given this, given the actual fact, it seems like we agree that it’s going to take you 12 to fifteen years to do it, in my ideas, that’s inconceivable and also you’ll type of be agnostic, at least to me, about the best way you pursue that energetic income. I really feel there’s a superb argument to be made that it’s essential merely pursue irrespective of energetic income makes you most likely probably the most money, and for me, that’s persevering with in an on a regular basis job. Nevertheless it seems like for you, why did you make that different determining that you just needed energetic income to do it by way of precise property comparatively than you had a superb job, you had a superb firm job and in addition you chose to depart that.

Henry:
Positive, I did have a super firm job and I beloved my job. That’s why I saved it as long as humanly attainable. I was going to do every until I couldn’t do every anymore until someone was going to stop me from doing every. And I did. That’s what occurred is I cease when it worth me money to have the job after they wished me to work further hours and I merely couldn’t give them further hours, it would take away from what I was doing in precise property. Nevertheless the reply to your question is I needed to determine on the precise property because of I suggest, I’m going to throw all of it out proper right here. I was making $110,000 a 12 months, which isn’t a ton of money, nevertheless it’s good money, correct? It’s good money. It’s exhausting to not determine on precise property as your full-time income path as soon as I’d should commerce 40 hours per week for 12 months to make $110,000 once you rely my bonus, I was perhaps making nearer to $140,000 as soon as I’d flip two properties and make that and I’d flip two properties within the an identical month

Dave:
Whilst you put it that methodology,

Henry:
Correct? We merely provided a deal and made 70 Okay last week. So yeah, it took us 5 months to make 70 okay, nevertheless that wasn’t the one dwelling I was flipping. I needed to determine on the precise property. It made further financial sense and likewise I adore it rather a lot larger than I beloved my day job. I appreciated my day job. I like doing this.

Dave:
Clearly I’ve chosen the other, correct? I proceed to work full time at BiggerPockets and I really feel there are professionals and cons, nevertheless for me merely I like having a gradual paycheck. I like determining that my funds are lined. I like having benefits.

Henry:
That’s the issue no person thinks about after they go away that W2, that insurance coverage protection is foolish.

Dave:
As you notice, I merely moved once more to the US and I’m like, holy crap. Yeah,

Henry:
It’s no joke.

Dave:
The insurance coverage protection costs are insane, nevertheless that’s an identical to my psychology. I like having that because of what I actually really feel like is it permits me to actually really feel comfortable taking risk in precise property because of I do know that if I put cash right into a syndication and it doesn’t do successfully, I’ll be improbable. I reside inside my W2 income and precise property is just gravy for me.

Henry:
So said in one other means. If BiggerPockets went away tomorrow, would you go uncover one different W2 because you similar to the fixed income or would you identify a technique to utilize precise property full time?

Dave:
I assume perhaps the latter. I really feel it’s pretty exhausting for me to think about working at one different Corpor firm correct now.

Henry:
I don’t assume me or James Dard would help you go get one different job. We’d merely feed you presents until you acquire okay to do this by your self.

Dave:
Correctly, the humorous issue is I acquired into my job at BiggerPockets because of I really appreciated precise property. I acquired into precise property in 2010, type of on a whim. It was a very good good friend of mine was doing it, and I was like, that seems pleasing. I’m going to do that and I’d really use 250 bucks a month. So I started doing that after which I went once more to grad school and I was like, I really an identical to the precise property issue. And so I googled precise property tech jobs and positioned BiggerPockets. It was down the freeway from the place I was dwelling. It was merely form of coincidence, nevertheless I’ve always really appreciated the precise property aspect of it. So I really feel I’d uncover an answer to each do personal lending or flip properties or just be rather more involved in my rental properties. I do assume I perhaps hand over three, 4% cash on cash return a 12 months. Higher than that, I pay 8% to the property supervisor. Nevertheless even on prime of that, there’s merely an inefficiency of it. I can’t spend adequate time on it, and I’m okay with that. It permits me to make my income, nevertheless
I’d perhaps do one factor like that. I don’t know. It’d be exhausting to think about merely starting a model new firm group.

Henry:
Positive. Positive, positive. That was the place I found myself in.

Dave:
Yeah, I get that. Are there any, I suggest benefits, you merely launched that up as one among many trade-offs, nevertheless are there trade-offs?

Henry:
Yeah. Correctly, firstly, it’s merely scary. So what helped me bounce off the cliff actually was we had been selling a flip. So this was 2021. That was when points had been going crazy. And what had occurred was we had been selling two properties and we ended up getting over asking on every properties and the amount over what we had underwritten them to advertise at ended up being a 12 months’s wage

Dave:
From

Henry:
The W2. And I was like, look, we’ve acquired this further money we weren’t planning on. Let’s merely squirrel that away into an account and that gives us 12 months. We’re used to this income, we’ll merely pay ourselves out of that account for 12 months and if this particular property full-time issue doesn’t work, then I’ll go get one different job. And so that was what gave us the boldness to truly pull the set off.

Dave:
Yeah, I suggest I’d take into consideration that it’s extra sturdy for people now to do that, nevertheless I really feel it’s moreover essential to take into account that was the anomaly, not now. And different folks assume I can’t cease my job in precise property immediately because of it was less complicated once more then, nevertheless that was unusual. The types of returns and the types of presents that you just see in the mean time are actually nearer to historic norms
And precise property was nonetheless a superb funding throughout the nineties when it was nonetheless these types of returns or all through the early 2010s when the returns had been robust, nevertheless not spectacular. Nonetheless increased than each different asset class, at least in my opinion. So I merely assume it’s essential to remember, although you hear these tales about inconceivable returns, you don’t need that. It’s good. I hope it happens to all people, nevertheless you don’t need that to show into financially neutral or to pursue financial independence by way of precise property. We acquired to take a break, nevertheless on the other aspect, further of the BiggerPockets Precise Property podcast are once more with the rest of the BiggerPockets Precise Property podcast.

Henry:
I’d say crucial commerce off to answer your earlier question is it’s not on the spot money as soon as I’m flipping properties. It could be sooner once you do assignments, nevertheless I don’t do assignments, so if I’m getting money, I’ve to go looking out one factor, I’ve to buy the one factor, after which I’ve to get it to a level to the place any particular person else needs to buy that one factor from me, and I moreover rely on any particular person else needing to want to promote to me. It’s not like I can merely go to this open market

Dave:
And

Henry:
Buy properties which may be going to make me a bunch of money. Positive, the MLS exists. Positive, there are presents on it, nevertheless it takes loads of effort to do that in amount and use it sustainably. So because of I’m searching for off market and since I’ve to flip a house, I’m doing work in the mean time that I acquired’t receives a fee for a minimum of 60 to 90 days, and that’s fast, nevertheless it’s perhaps nearer between 4 to six months. And so once you slack in the mean time, that doesn’t hurt you now. It hurts you down the freeway. And if you find yourself in a lull the place you couldn’t uncover a deal over 30 to 60 days or one factor, you’re going to be on this place down the freeway the place you’re like, I don’t know the place money goes to come back again from. Correct?

Dave:
Yeah. That’s scary.

Henry:
That’s a scary commerce off. So that you simply’ve acquired to be really good about your money and budgeting your money in order that you can have income all yr lengthy because of it’s not a sustainable provide. So that’s what I envy about what you’ve gotten. You obtain money every two weeks and it’s not like that proper right here. Positive, I make them in larger chunks, nevertheless then you definately have to be further financially accountable with it so that it’s not all gone on the same time.

Dave:
See, that’s why I can’t do what you’re doing. I’m not financially accountable. I actually always joke with my partner because of I’ve flip right into a financial educator and I’ve under no circumstances had a funds in my complete life. Even as soon as I used to be broke, I under no circumstances had one. I didn’t neither. I’d merely spend money until I didn’t have any. After which I’d eat ramen for a few days and then you definately undoubtedly’d wait and in addition you’d decide it out. I’ve under no circumstances accomplished that, and that’s perhaps one among many causes I like having this common income. I can’t mess up that badly in two weeks. Correct?
I’m merely kidding. I’ve clearly discovered an answer to be financially accountable, nevertheless there’s a psychology side of that which will concern me. If there was a lull for a month, although it’s not lifelike, I is likely to be improbable. It is going to type of weigh on me a bit bit. And it’s moreover whilst you had been talking about that, it made me perceive or think about the best way you nearly have to be accountable, do every on the same time. Once you’re going to transition into it because of you’ve gotten gotten to a level the place you do adequate flips and also you’ve received such a superb pipeline that even once you miss on one month and in addition you don’t get an acquisition, you’re like, I’m going to get one subsequent month. You’ve received a fairly good idea of that. Nevertheless once you merely cease your job and in addition you’re like, I’m going to go flip properties, then you definately undoubtedly increased have that deal motion work out really quick. Merely assuming you’re a median one which doesn’t have months and months and months of emergency

Henry:
Reserves

Dave:
That will get unhealthy shortly. So that you simply type of should develop the pipeline of deal motion while you’re nonetheless working full time.

Henry:
It’s a should to assemble some stage of consistency into your company sooner than you cease because of someone has to want to promote me a house. Now I perceive how you can go seek for these people. I perceive how you can help these people. I’ve positioned myself in a technique that I can assemble a enterprise spherical that, nevertheless it’s not like I’m relying on any particular person else to find out that they want me to buy their home for me to change into worthwhile. That’s

Dave:
Strong for constructive. And likewise you’re excellent at it, and in addition you’ve practiced a lot to have the flexibility to have that confidence, and it merely doesn’t come that shortly. And I’m having enjoyable with this dialog because of I really merely want people to grasp two points that Henry and I are talking about proper right here. At first, the idea that you simply’re going to to easily do nothing throughout the subsequent few years, unattainable besides you’re starting from a extremely advantaged place with loads of cash. And once you’re going to do what? I don’t know, it’s perhaps 95% or further of precise property merchants nonetheless work for energetic income. I really feel it’d even be bigger than

Henry:
That. I really feel it’s bigger than that.

Dave:
I really feel it’s all people, and once you’re going to do this stuff on the same time, earn energetic income and make investments future so that finally you may very well do nothing, you might choose each the path I’ve gone down, which is to work a further typical career and make investments on the aspect. Otherwise you presumably can do what Henry’s accomplished. And there have been type of merely trade-offs and professionals and cons between every of them, nevertheless every are pretty widespread. You do need energetic income and in addition you don’t need to cease your job. The additional widespread methodology to do this is to find an answer to earn income correct now and make investments that into passive belongings for the prolonged

Henry:
Time interval. As soon as we talk about our approaches to precise property, they sound completely totally different, nevertheless the framework is ideally the an identical of what you and I are doing, which is we’re searching for belongings, so we’re rising our portfolio to irrespective of comfortability stage we’re with that, after which we’re stabilizing these belongings, after which we’re specializing in getting these belongings paid off and all through all three of those buckets, you and I every have energetic income coming in to help us fulfill what’s occurring in these buckets so as that we’ll lastly finish off that third bucket of paying off the belongings so that we is likely to be financially free. Our framework is strictly the

Dave:
Equivalent. Yeah, that’s

Henry:
Correct. How we’re producing the income and the place inside our course of we’re is completely totally different, nevertheless the physique is an identical.

Dave:
That’s an excellent degree. I hope that’s encouraging to people because of I’m constructive you hear this frequently. This expectation that it’s good to cease your job or to be in precise property or actually really feel the pressure, honestly, to retire and do nothing, merely isn’t essential. And I really feel you had been saying you assume it’s bigger than 95%, nevertheless do you actually even know anyone who is de facto retired from precise property?

Henry:
Maybe one investor presumably of the entire people I’ve ever met.

Dave:
Yeah, correct. All people retains doing stuff.

Henry:
That dream of going and sitting on the seashore and retiring and dwelling. Look, I do know a great deal of merchants who moved to the seashore, nevertheless they work in sooner or later there.

Dave:
Fully. Yeah, exactly. Exactly. Yeah. So hopefully this dialog helps normalize this for people and easily perceive that precise property is inconceivable, excellent. It’s unimaginable what it does for you. Merely go into it with lifelike expectations and by no means solely will that present assist to get in and get better from a couple of of the concern, I actually assume it makes precise property investing less complicated. Lemme merely give an occasion. I’ll buy a deal correct now that makes three or 4% cash on cash return because of it’s a super asset in a super neighborhood, and I don’t need larger than that. I don’t need 8% cashflow because of I don’t need the money correct now and allows you to take this long-term view. Deal alternative and portfolio method turns into rather a lot less complicated whilst you’re not hyper-focused on how do I substitute my income by tomorrow?

Henry:
Positive. That man, the pressure that you just don’t should actually really feel as a means to do this’s excellent. Yeah. It’s merely buy a superb asset in a superb appreciating neighborhood that pays for itself and easily don’t give it some thought for the next 15 to twenty years. That’s pretty cool.

Dave:
I merely want people as we, notably coming right into a model new 12 months to enter points with lifelike expectations because of precise property merely almost pretty much as good the asset, merely almost pretty much as good as a enterprise as a result of it’s ever been. Once you merely have lifelike expectations about what is feasible with this asset class and acknowledge that loads of the promoting and advertising and marketing that was occurring in BiggerPockets is part of this over the past couple of years simply isn’t the most common methodology, the additional widespread methodology to utilize precise property is to take 10 or 12 or 15 years to assemble out a portfolio and gives your self most financial freedom merely over an prolonged time interval.

Henry:
Couldn’t agree further.

Dave:
Correctly, thanks. This was a extremely pleasing episode. I like you being proper right here.

Henry:
Hey, man, thanks for having me. I like putting a wise spin on points. That’s nonetheless the most effective financial decision that I’ve ever made, although I nonetheless work on a day-to-day basis in an precise property enterprise. So it’s modified my life in further strategies than I might need ever imagined, and I really feel that there must be a lot much less fear spherical getting started. There must fully be coaching and preparedness, nevertheless there’s a way that may work for really nearly anyone,

Dave:
And

Henry:
You do not want to be an professional air quotes precise property investor to hit that stage of financial freedom inside 10, 12, 15 years. You presumably can merely be an on a regular basis Joe Schmoe with a job and get there.

Dave:
All correct. Correctly, thanks all rather a lot for listening. We’d like to take heed to your opinion about financial independence and what it means to you. So each hit Henry or I up on BiggerPockets or on Instagram or throughout the suggestions underneath once you’re watching this on YouTube. Thanks all rather a lot for listening or watching to this episode of the BiggerPockets Podcast. We’ll see you as soon as extra shortly.