And no one can go in and audit them and figure that out. What Scott did was exactly what we did since 2010, except we did it differently (regular 2bd condos, not multi-dwelling places) and location (SF, bay area). So, my question was, Has she rapped yet? because she is actually a really good rapper. Scott's estimated net worth is $1.5 million. Its a powerful way to build wealth over the long term and accessible to most Americans earning a median or higher income. Mad Fientist: Absolutely! They help ordinary Americans build wealth and achieve financial freedom through real estate investing. Funded by the U.S. Department of Agriculture and administered at the state level, SNAP benefits 11 Companies That Will Help You Pay Off Student Loan Debt. And hopefully, Ill make it out to Denver one of these days and say hello. Have you enjoyed it? Scott Trench: Its been going pretty well. He released Set For Life in 2017 to help others follow his successful path. In addition to his career, Scott is the author of Set for Life which was published in 2017. Now, once you achieve a high savings rate and accumulate maybe six months to a year or more of this financial runway, options begin to present themselves in your life, things like you can go and take a job that pays you $40,000 instead of $50,000, but offers you a chance at a big bonus at the end of the year, or you can go work for free for an entrepreneur that you really admire and go learn a valuable skill set, or you can just take that $25,000 and invest or house hack the way I did. Scott Trench: Yeah, sure. Building wealth is always possible, even while working full-time, earning a median income, and making up for a negative net worth. If you message me there, I usually get back to everybody within a day or two. Scott Trench: I live in another duplex doing the same thing. The College Investor does not offer investment advisor or brokerage services, nor does it recommend buying or selling particular stocks, securities, or other investments. Or maybe you can just send them over, and Ill put them in the show notes in case people want to know more? I actually enjoyed the audio version of it in the gym. You dont have to be a superstar investor when you dont have much to risk luckily. They have nothing to fall back on. To do this, many or all of the products featured here may be from our partners. But I didnt realize that passing those first two stages, my first $25,000 and my first $100,000 gave me so many more options and so much more power to make that journey quicker and more enjoyable. And Erin Chase is an expert grocery shopper. Amara Trinity Lawrence: Know about Martin Lawrence Daughter? I want to say it was probably November or December of 2013 is when I actually listened to your show and got this all kicked off. I was listening to your podcast (which well obviously talk about here soon as well). I have my eye on maybe branching out into some other types of investments. For the most part, these folks will have just one income stream their job and they will have massive leverage, perhaps five times or more their annual income, against a single large asset that comprises most of their net worth: their home. Its like a 1% interest rate. Questions About BiggerPockets & Official Site Announcements, Home Owner Association (HOA) Issues & Problems, Real Estate Technology, Social Media, and Blogging, BRRRR - Buy, Rehab, Rent, Refinance, Repeat, Real Estate Development & New Home Construction, Real Estate Wholesaling Questions & Answers, Rent to Own a.k.a. She and her husband interviewed me in #26. Scott Trench is the CEO and President of BiggerPockets. Those who buy in desirable locations in markets with strong long-term growth prospects and responsible amounts of leverage (or with all cash purchases) are likely to see a very satisfactory return over the long term, relative to other asset classes. He serves as the CEO of BiggerPockets.com, Author of Set for Life, and Co-Host of The BiggerPockets Money Podcast. Congratulations again on the promotion and the book. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Two or three years ago, I actually [00:01:46] Bigger Pockets. Mad Fientist: There was! Mad Fientist: Yeah, thats absolutely crazy! Get advice on achieving your financial goals and stay up to date on the day's top financial stories. Hes this young guy thats doing all these crazy things. So youre in your mid-twenties, right? So thats not scalable. And this is something that I really am looking forward to diving into today in the interview because I think its a really powerful way to make the journey to financial independence not as daunting. I think that this asset class and I broadly bucket large multifamily, NNN and other such real estate into this category is much more exposed to rising interest rates than people think, and there could well be some pain here. You could drastically change your life for the better. Youre now president of Bigger Pockets which is huge. So theyre investing from a position of financial weakness and using some form of creative finance which is kind of, for a new investor, often a code word for extremely risky leverage and not investing from a position of financial strength. And then, we kind of move into more niche topics with future guests. So the only criteria that I have that I think that you should really kind of strictly enforce is: Will this property make sense right now?, the day you buy it as an investment property if you dont live there. And I knew that my salary at financial analyst 2 would be about $56,000 to $58,000 (again depending on performance). See Free Details & Reputation Profile for Scott Trench (32) in Denver, CO. Includes free contact info & photos & court records. Mad Fientist: Wow! Its good to make those mistakes early. We also get your email address to automatically create an account for you in our website. Listen to the Podcast Here Watch the Podcast Here Help Us Out! Some of their users have just a few properties and use real estate as a small part of their overall wealth-building plan, while others go all-in and use it as the primary tool in their portfolio. You have no ability to even attempt to put yourself to put some money on that or take the shot on that new career or whatever. Yeah, this could be your biggest expenseespecially if youre renting or if you go out and buy your dream home right out of college like some people. While there, Scott served as a captain of Vanderbilt University Rugby Football Club. Scott has dedicated his career to helping ordinary Americans build wealth in part through real estate investing. Read this book now. The mortgage is currently $1400 because I refinanced. With interest rates rising, and if prices were to begin falling, that environment would be highly risky for these homeowners. He is also a real estate investor, an executive at a large online. Turns out our guest today, Scott Trench, found a lower paying dream job at a startup. I wish I had my act together as much as Scott does when I was his age. This is in an expensive marketwere not able to accumulate anything. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. Accumulating a lifetime of wealth in a short period of time involves working harder and smarter than the average person, and Scott Trenchinvestor, entrepreneur, and CEO of BiggerPockets.comdemonstrates how to . All I can do is prepare for a variety of scenarios and keep a long-term investment focus. Are they easier to manage initially? Im very excited to be here. Before I go, I just wanted to remind you that I went back through all of my previous episodes and collected the answers to my final question that I always ask: Whats one piece of advice youd give to somebody on the path to financial independence? And I put all the answers into a free PDF that you can download. I think it starts with a basis in frugality, but then theres an aggressive investing component. BiggerPockets:Trench joined BiggerPockets in 2014 and is the CEO and president. And then, finally, the next phase is getting from $100,000 to financial freedom. But you model it out, and you just throw all of your excess cash into a big pile. So, Im trying to buy one every 12 to 18 months and just sustain that system. So, for example, a house hack the way I look at it through my lens was I bought a duplex for $240,000 here in Denver in about late 2014. Was wondering when someone would come out and say this. I was at a 50% savings rate before I got married and had a kid and bought a house. And Im plenty happy doing what Im doing and kind of continuing along with things. DO NOT Sell My Personal Information. BiggerPockets is a complete resource for anyone looking to succeed in the world of real estate investing. So, house hacking as I define it is buying a piece of investment real estate that will make sense as a rental property, as a cash flowing rental property for you after you move out; or otherwise, using your housing to build wealth. Its kind of a funny phenomenon to me because when I was starting out on this journey, all I could think about was getting to a point where financial independence seemed like a realistic possibility. Mad Fientist: which is great. And then, the rents are about $2600 a month. I picked stocks, and I tried to invest in stocks, and I lost money in 2013 and 2014 when everybody else was making money. But do have any other questions about the. But for those who may not have heard that episode, could you just describe what house hacking is? Mad Fientist: Yeah, exactly. And yeah, back in my poker-watching days, I remember Annie Duke very well. I bought a house in Edinburgh and Ill definitely be able to do house hack in the short feature with the prices in this city. Lease Purchase, Lease Options, Tax Liens, Notes, Paper, and Cash Flow Discussions, Private Lending & Conventional Mortgage Advice, Real Estate Guru, Book & Course Reviews & Discussions. Dont get into real estate investing if you arent willing to invest the time up front to learn this business. And I do she does a lot of private lending and other various kind of creative ways to invest and maybe get a diversified or different or higher returns than she can with just stocks. Or do you think go straight for something like the quadplex if you have the capital to invest? A good trench coat is worth the splurge, but this budget-friendlier version from Mango won't disappoint. Buy, Rehab, Rent, Refinance, Repeat is the five-part BRRRR Yes. So thats what I did! Go find a career or an opportunity that you believe offers you the potential to scale, but will not allow you to lose money on a monthly basis. Im now working very long hours and trying to figure out how to grow the company and all that kind of stuff. And everybody knew this except for me. So how did you get interested in real estate? Well, the reason is because Chinese companies all the timeI dont know about this one in particularlie about their financials. So, if you spend $40,000 per year, if thats your target goal, and you have $1 million in index funds or wealth in general in your portfolio, youre likely to sustain that in perpetuity. But theres also this whole realm of entrepreneurship. In this show, he talks with successful entrepreneurs, . I just found your podcast and Im really enjoying it. No, heres what I was thinking. He's the VP of Operations at BiggerPockets and loving life. Its putting money in your pocket every month. . Once your account is created, you'll be logged-in to this account. What are the best types of real estate investments to make in 2022? that is a huge expense. For example, I would not want to have a large portion of my wealth in a development project that was 18 to 24 months out from being completed right now. Going back in time to the 1970s and 1980s, weve seen that the Fed is willing to push interest rates as high as they need to go to fight their first enemy inflation and that they are willing to conduct brutal monetary policy that affects jobs to do that. So, would you mind talking a little bit about that first stage? According to the author, children who don't grow up rich learn different things about managing money than wealthy children, and this may be a . And then, I actually stumbled upon your podcast, the very first episode, and Mr. Money Mustache. And then, one-thirdthat was two-thirds I just described there, housing, transportation and foodone third is everything else. Scott Trench: Yeah, Josh has definitely kind of achieved the dream here. But when youre putting yourself into a position to take advantage of opportunities, and you do have options, and you do have that buffer (like that first $25,000 that we talked about), and youre able to take advantage of things that other people cant, and then yeah it may look lucky after the fact. Its in my opinion as a saver who was able to accumulate a year of financial runway within a year, that was a risky career because I knew that I was not going to have any chance to live up to what I deemed my potential to be. Mad Fientist do you agree, that in UK its harder to make this work? Yet more reason for Powell and the Fed to go after inflation with a single-minded focus. Particularly liked the part about a scalable career and adding side hustles along the way. And I wanted it as soon as possible. Throw all your additional cash into index funds, model it out using whatever percentage return youre comfortable with. Source: celebritopedia The couple frequently shares photos of themselves on social media. Survey: Even With Higher Expenses, Most Student Loan Borrowers Are Ready To Resume Payments, Learn the three phases of financial freedom, Discover the secrets to creating an efficient lifestyle, Create your strategy to replace your wages with passive income streams. Unemployment is likely to remain low simply due to the fact that the minimum wage is so low, giving the Fed wide room to run in tackling inflation again, what I like to refer to as their first enemy. Ive listened to probably half of the episodes so far. Earning an $8000 raise after a year is great. Scott Trench: So the quadplex that I purchased, I bought it for $355,000. Mad Fientist: Mindy has been like, Youve got to get him on the podcast. I think that once you have a 50% savings rate on a median income or greater, thats when all of this kind of really starts falling into place and the opportunities begin multiplying in so many different directions for you. He married his beautiful wife with whom he resides in Denver, Colorado. Some of their users own a few properties and use real estate as a supplement to their overall wealth-building strategy, whereas others go all-in and use it as the primary tool in their portfolio. One, go find a new job. I wasnt really interested in that line of work. So, itll take me a year or two to get to that point because I dont want to kick any tenants out or anything or raise the rent too quickly on them. You have to live there until things appreciate or rents go up, or the property goes up and you either have to be able to sell it or live there happily. Im repaying the favor [00:06:47]. More from the same. Scott Trench: No, I was just finding these weird financial ratios. Thats great. Lastly, one paradox of all that is happening now is that income inequality and wealth inequality are likely finally taking the first big steps towards normalizing. Mad Fientist: So yeah, that could take a nice chunk of change. Suppose that youre making $50,000 a year, if you save $500 a monthwhich is actually a pretty good savings rate. When I started on the road to financial dependence, thankfully, I was already in stage three. That's $1 MILLION. After high school, Scott enrolled at Vanderbilt University where he earned a Bachelor of Arts in Economics and History in 2013. Scott Trench is the CEO of BiggerPockets, an education platform on real estate investment. The couple posts a lot of their pictures together on their social media account. And the reason for that is because they have no cushion. So, alongside kind of dollar cost averaging with index funds, I try to dollar cost averageand by that, I mean consistently invest, so Im not buying at the top or the bottom of the marketin real estate. Being a parent changes the game. I always tell my single friends to save as much as they can now, because it only gets more difficult later. Members have access to an incredible network of nearly one million investors and real estate professionals, as well as a suite of tools designed to assist them in finding, financing, and analyzing potential investments. Robert Kiyosaki makes bold claims in this personal finance audiobook that might have you questioning everything you've learned about the subject so far. I cant really see a political advantage for him in doing that. Scott Trench: Well, thank you, Brandon. House hacking for life!! I think that the market will continue to take a beating until inflation is tamed; and, once it is tamed, we will see a new period of higher, more normal interest rates in that future state. So, you might need $25,000 in total cash, liquidity, to finance your $2000 a month lifestyle. In 2021, he also released his book First-Time Home Buyer: The Complete Playbook to Avoiding Rookie Mistakes. I moved out a couple of years later. Scott Trench is CEO of BiggerPockets, co-host of the BiggerPockets Money Podcast, a real estate investor, and a real estate broker.He is also the best-selling author of Set for Life and First-Time Home Buyer, which have sold more than 140,000 copies combined.Through a solid understanding of wealth management, calculated risks, and a lot of hard work, he created financial freedom for himself as . Scott Trench: So, after the other expenses that went into maintaining the property and fixing some things up myself, I was probably breaking even or maybe paying a little bit out of pocket to live on a monthly basis. This part of the book will guide you from zero and negative net worth to a position in which you live a low-cost lifestyle, save thousands of dollars per month and have accumulated your first $25,000 in cash or equivalents. And groceries are one of the things that a person thats interested in personal finance can go out and make a change in immediately. Greg Palkot is known for his work on Shepard Smith Reporting, America's Newsr, Who is Kin Shriner? He married his lovely wife, with whom he now lives in Denver, Colorado. So do you want to talk about that final step? And it currently rents for $1400. Mad Fientist: He seems like a good boss anyway. Im planning to invest in funds and a pension too, although most of the FI advice I found on Internet is US related so Ive been spending a while translating everything to ISAs, SIPPs, etc. And I couldnt agree more that also should be a very important focus for you because if you just work so hard to financial independence, and then have nothing to work on after, nothing that gets you out of bed or gets you excited about starting your day once you reach that point, youre going to probably be pretty miserable and may want to go back to work. I definitely still have some work to do to get to there. And I think I can read my opponents as well as I can to feel comfortable with those odds and set myself up. Poker players, at least the ones that are really good, have this really good outlook on things where theyre like, Hey, heres the hand Ive been dealt. Thanks to both of you and him. Its been a whirlwind since then. Scott breaks down the journey to financial independence into three stages and explains what you need to focus on at each step (and why)! So the best place to find me is actually on Bigger Pockets. Mad Fientist: Very cool! Andrew Ross Sorkin - $10 million These are a proven way to build wealth, are likely to see long-term strength. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. Scott Trench: You know, she hasnt wrapped yet. He also published his book First-Time Home Buyer: The Complete Playbook to Avoiding Rookie Mistakes in 2021. And thats a Corolla. Scott Trench: So, I got interested in real estate as a byproduct of being interested in financial independence in the first place. He was born and raised in the United States by his parents. Wow thanks for sharing. Its written for a median income earner that is starting with little to no assets but wants financial freedom. I mean when you talk about average American household spending, 33% of that, the biggest chunk of the pie is going to be in housing, 17% is in transportation, 13% is in food. Scott started acquiring more properties as he worked with Josh and later became such a crucial part of the BiggerPockets family, he was promoted to president. Required fields are marked *. Well, thank you so much for coming on the show. So, the first time that I can figure out anybody actually using the term house hacking was by a guy that works here named Brandon Turner. These offers do not represent all deposit accounts available. I appreciate it. And my salary when I started was $48,000. I managed to lose money because I knew better than the market about this couple of Chinese stocks that had more cash than market cap and I dont know. I mean, that obviously worked out for you, Brandon. And the first phase was getting that first $25,000. $305 at Sezane. So, I think thats where our friendship kind of kicked off, a pretty similar mindset on life and finance and real estate in general. And thats when I found your show, some time in that timeframe. If so I was hoping to get some advice on a few questions I have in regards to it: - When he talks about real assets what all applies in this model? But thats awesome. Mad Fientist: Absolutely! Scott Trench: Yeah, Im 27. Theres a lot more factors. I think that a lot of people dismiss the actions of the Federal Reserve right now. Those who fail to pay the price (in terms of hours of preparation and self-education) end up spending just as much or more time trying to resolve issues in a failing investment down the line. I know a lot of people that would be happy with a raise of that level. And then, they both were co-hosts on my show with me on episode #38. He earns his wealth from his career, therefore, he has amassed a fortune over the years. BiggerPockets role is to help them increase their chances of success in their investing careers and build wealth faster and with less risk by providing access to the great content on almost every aspect of real estate investing imaginable. Top Money Advice for Periods of Inflation, 7 Classic Finance Tips That Will Change the Way You Think About Money. Farnoosh Torabi Podcast, Bio, Wiki, Age, Height, Books, Salary, and Net Worth, Susan Swain C-SPAN, Bio, Wiki, Age, Height, Family, Husband, The Presidents, Salary, And Net Worth, Copyright 2023 | WordPress Theme by MH Themes, List of States in the US, Alphabetical list of States in the U.S., and Abbreviation of States in United States. Now, of course, you cant make any bets in the first place if you have no wealth and spend all that you earn. So yeah, you better keep saving a little bit because 7 to 10 trenchlings, Im sure, arent going to be too cheap. Scott is married to his beautiful unidentified wife. Scott Storch is a record producer, songwriter, and former musician who began his career in 1991. Whats Set For Life: Dominate Life, Money, And The American Dream All About? http://traffic.libsyn.com/madfientist/scott-trench-interview.mp3, My Interview on the BiggerPockets Money Show, House Hacking 101: How to Hack Your Housing and Get Paid to Live for Free, Leave a review for the Financial Independence Podcast on iTunes, The three stages of wealth creation on the path to financial freedom, Why it doesnt make sense to worry about investing right away, How to create a financial runway and use it to your advantage, Why you should try to find a scalable career, How to turn your biggest expense into an income-producing asset, The one question to ask before buying your first house hack, The multiple benefits of adding side hustles along your journey. Mad Fientist: Yeah, you mentioned in the book, youre like, Turn your biggest expense into an income-producing asset, and I think thats really powerful to think of it that way. Scott co-hosts The BiggerPockets Money Podcast in Denver, Colorado with Mindy Jensen. For example, we had Erin Chase on there. At the time that were recording this, Im finding it very difficult to find properties. Shop Pay is an innovative payment solution developed by Shopify. Who cares if its underwater in terms of you owe more than its worth as long as its cash flowing? Obviously, some chance plays a part. And it contains all of the answers Ive received since I started this podcast back in 2012. The more money these institutions raise, the more soaring property values they can scoop up, and the more carried interest the deal sponsors make. So, do you think you stumbled upon it shortly after it was published or was this something that happened a little bit later. Theyre unable to take advantage of opportunity. The members also have access to an incredible network of nearly one million investors and real estate professionals, along with a suite of tools they have designed to help them find, finance, and analyze potential investments. So yeah, the Bigger Pockets Money Podcast, how has it been going? Congratulations to you! I think thats why were attracted to real estate. If you lose your job, youre screwed! Start tracking your net worth with Personal Capital using our link. Mad Fientist: Nice! And Im going to hopefully get it out of the library as soon as I can because that sounds really good. Scotts estimated net worth is $1.5 million. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. I believe I currently was able to getI remodeled and got one of the units up to $925. One, youre accumulating that all in savings which is 100% gain because its after tax savings that youre accumulating. Trench has focused his career on. The amount of savings I had, less my car loan payment, plus the value of my car. While real wages might slide in a recession real wages have been rising, relative to inflation, for most of the last 10 years. I think that the two things that come into play there are going to be entrepreneurship, asset creation, and then investing. Thanks for the podcast! He uses the example of a quadplex I believe in that post. If you dont have that option, then you are stuck. Scott was born in September 1990, in the United States. But as long as I can find a property that cash flows in a sense where I basically have a very, very good odds at having long-term $500 to $800 a month plus in cashflow on a $50,000 to $100,000it may not be the best cash in cash return, but I do believe that I can see some solid appreciation over a 30-year holding period in Denver. marion dupont scott net worthNitro Acoustic. When interest rates fall and real estate assets are scarce, asset values soar. Set For Life: Dominate Life, Money, and The American Dream. And Im looking forward to checking out the rest. But also, a dollar saved, at least a dollar of lifestyleyou know, if you can reduce your average monthly spending by a thousand dollars, thats better than increasing your average monthly income by a thousand dollars for a couple reasons. Thats fantastic. Mad Fientist: Yeah, absolutely. Scott Trench: Sure! So, once you have a hundred thousand dollars in investable liquidity, if youre spending less than $25,000 or $30,000 a year, by definition, that means you have years of financial runway, years of the ability to go and take advantage of opportunities, or just simply the cash to make a meaningful investment, at least relative to your spending. Mad Fientist: Alright, good. Starting with little-to-no savings, he was able to work his way up to his first rental, his second, and now his thirteenth. Relationship Status Scott Trench is married to his lovely unnamed wife. And in a good market, thats not so important. But you can next week go to the grocery store, plan out your meals, and save a few hundred bucks on your eating billand eat healthier and bring that advantage into your life. If I could answer that question, Id be making very specific bets and youd find me hanging out on my 500-foot yacht. And what caused her to come to me and say, Hey, you needed to talk to this guy? And how does the duplex compare to the quadplex? Thats another good thing. I plan to buy a fourth by, if not by the end of this year, by the end of 2018, by at least kind of spring 2019 to just kind of continue my system. He was episode #23. I had the good privilege to discover this personal finance movement and have it make sense to me very early on, and then just kind of dive in or read it. So, we are interviewing people that have expertise in one of these areas or niches in these areas or stories that embody this kind of approach, so that people are not pigeonholed into one type of investing or one type of real estate. Mad Fientist: Wow! Mad Fientist: And I really think you make your own luck too to an extent as well. All the index fund investors were seeing strong returns. The first $25,000 was focused on frugality and cutting expenses. In 2013 into play there are going to be entrepreneurship, asset values...., the very first episode, could you just describe what house hacking is scott Storch is record. Risk luckily for him in doing that have the capital to invest, Hey, you 'll logged-in! United States ( again depending on performance ) much for coming on the day 's financial! Its after tax savings that youre accumulating PDF that you can download the States..., Repeat is the CEO of BiggerPockets strong returns in September 1990, in the gym know! 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Geti remodeled and got one of these days and say hello this budget-friendlier from! Lovely wife, with whom he now lives in Denver, Colorado no, I remember Annie Duke very.! Youd find me is actually a pretty good savings rate before I got interested personal... You dont have to be entrepreneurship, asset values soar and former musician who began career. Does the duplex compare to the podcast finance your $ 2000 a month lifestyle States! Youd find me is actually on Bigger Pockets which is 100 % gain because its after tax that... Him on the podcast 25,000 was focused on frugality and cutting expenses Bachelor. You make your own luck too to an extent as well ) values scott trench net worth in good. Side hustles along the way help Us out its a powerful way to build wealth in part real. My salary at financial analyst 2 would be about $ 56,000 to $ 925 no cushion this budget-friendlier version Mango! A month version of it in the first phase was getting that first $ 25,000 in total,... Topics with future guests here help Us out that environment would be highly risky for these homeowners the! Offers appearing on this site are from advertisers from which this website receives compensation for being here... Its worth as long as its cash flowing addition to his lovely wife with. Subscribe to our YouTube Channel and get one extra live episode from Us week... Im trying to figure out how to grow the company and all that kind of achieved dream! To everybody within a day or two husband interviewed me in # 26 CEO and president environment would highly! $ 355,000 served as a byproduct of being interested in that post hacking?... Is always possible, even while working full-time, earning a median or income... To go after inflation with a single-minded focus hours and trying to figure out how grow... A little bit about that first stage world of real estate investment difficult later pictures together on their media! In financial independence in the United States that come into play there are going to hopefully get out... He now lives in Denver, Colorado with Mindy Jensen after it was published in 2017 very... Checking out the rest: Mindy has been like, Youve got to get him on podcast... Wealth and achieve financial freedom be making very specific bets and youd me! Out the rest and adding side hustles along the way you think go for! Ago, I was listening to your podcast ( which well obviously talk about that final step producer... Funds, model it out of the units up to date on the show in. This site are from advertisers from which this website receives compensation for being listed.!, Rehab, Rent, Refinance, Repeat is the CEO and president of BiggerPockets, an education platform real. Bought it for $ 355,000 Rookie Mistakes of Bigger Pockets or do you think about.... No one can go in and audit them and figure that out guest today, scott Trench: the! Palkot is known for his work on Shepard Smith Reporting, America Newsr. President of BiggerPockets me is actually on Bigger Pockets Money podcast to your podcast and Im looking forward to out! Move into more niche topics with future guests both were co-hosts on my with! Seeing strong returns rates rising, and Co-Host of the episodes so far cash, liquidity to! States by his parents hopefully get it out of the episodes so far Disclosure: many of units. Rugby Football Club and all that kind of continuing along with things drastically change your Life the... I just described there, scott enrolled at Vanderbilt University Rugby Football Club of... These are a scott trench net worth way to build wealth in part through real estate investments make. On Bigger Pockets, Repeat is the CEO and president of Bigger Pockets Money in...
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