231: Semi-Retired at 30 Thanks to One Year’s Worth of Real Estate Investing w/Jessie Dillion
11/02/22 • 61 min
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If early retirement seems out of reach right now, try semi-retirement. Once you get there, you’ll only be halfway to early retirement, just like today’s guest, Jessie Dillion. At only thirty years old, she is semi-retired and has scaled her real estate portfolio to almost two million dollars in nine months, with five properties total!
When people think about high returns, they often think about a high unit count—but why have a lot when you can do the same with a few? Jessie is strategic about each property purchase she makes and has made a goal to make one smart investment each quarter. She currently has a single-family home and two duplexes. One of her duplexes is a house hack, and her portfolio sports a mix of long-term, short-term, and mid-term tenants.
Jessie’s success is due to how responsible she is with her finances. To finance her first property, she built up her savings to ensure she had enough to cover any surprises. As Jessie continues to scale, she has gotten more creative with her financing. She has formed great relationships with her lenders because of her ability to ask questions and carefully choose where and how she gets her funding. Now she is semi-retired at thirty years old and pays a measly fifty dollars a month towards her mortgage!
In This Episode We Cover
The FIRE movement and how to start your early retirement journey today
How to use transferable skills from other jobs to make investing easier
Building trust with your spouse and getting them on board with your investing journey
Getting the funding for your first rental property and how to use creative financing for the rest
Brilliant savings tips and how to rapidly increase your savings
The loan process and how to build a strong relationship with lenders
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Real Estate Rookie Facebook Group
Jamil Damji's BiggerPockets Profile
Ashley Hamilton's Biggerpockets Profile
10 Deals on a $20K Waitress Salary With Ashley Hamilton
Connect with Jessie:
Jessie's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-231
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Learn more about your ad choices. Visit megaphone.fm/adchoices
If early retirement seems out of reach right now, try semi-retirement. Once you get there, you’ll only be halfway to early retirement, just like today’s guest, Jessie Dillion. At only thirty years old, she is semi-retired and has scaled her real estate portfolio to almost two million dollars in nine months, with five properties total!
When people think about high returns, they often think about a high unit count—but why have a lot when you can do the same with a few? Jessie is strategic about each property purchase she makes and has made a goal to make one smart investment each quarter. She currently has a single-family home and two duplexes. One of her duplexes is a house hack, and her portfolio sports a mix of long-term, short-term, and mid-term tenants.
Jessie’s success is due to how responsible she is with her finances. To finance her first property, she built up her savings to ensure she had enough to cover any surprises. As Jessie continues to scale, she has gotten more creative with her financing. She has formed great relationships with her lenders because of her ability to ask questions and carefully choose where and how she gets her funding. Now she is semi-retired at thirty years old and pays a measly fifty dollars a month towards her mortgage!
In This Episode We Cover
The FIRE movement and how to start your early retirement journey today
How to use transferable skills from other jobs to make investing easier
Building trust with your spouse and getting them on board with your investing journey
Getting the funding for your first rental property and how to use creative financing for the rest
Brilliant savings tips and how to rapidly increase your savings
The loan process and how to build a strong relationship with lenders
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Real Estate Rookie Facebook Group
Jamil Damji's BiggerPockets Profile
Ashley Hamilton's Biggerpockets Profile
10 Deals on a $20K Waitress Salary With Ashley Hamilton
Connect with Jessie:
Jessie's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-231
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Previous Episode
230: Rookie Reply: The 1% Rule, Turnkey Rentals, and Escrow Accounts Explained w/Zach Lemaster
Is the 1% rule in real estate still relevant? Who shouldn’t be buying turnkey rentals? And why is an escrow account favorable for scaling real estate investors? All these questions and more are coming up in this Rookie Reply.
We’re back at BPCon 2022, and joining us is fellow investor and turnkey operator, Zach Lemaster. You may have heard Zach’s episode on the BiggerPockets Real Estate Podcast or maybe you’ve used his turnkey company, Rent to Retirement, before!
Zach helps us answer an array of questions, some from semi-passive turnkey investors and some from active investors. We touch on investor lines of credit and how to secure them, the 1% rule’s relevance in 2022, whether or not to get preapproved before finding a deal, buying off-market, and much more! Zach also poses three questions every investor should ask BEFORE investing in turnkey rentals.
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover
Where to find investor lines of credit and which banks are your best bet
Should you get an appraisal on an off-market property?
The 1% rule explained and how it’s holding up in 2022 (and beyond)
Escrow accounts and which types of investors should optionally enroll in them
Who should (and shouldn’t) invest in turnkey rentals and the questions you should ask your turnkey provider
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Real Estate Rookie Facebook Group
How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster
The One Mistake That Almost Put My House in Foreclosure
Connect with Zach:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-230
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Next Episode
232: Double Your Cash Flow Overnight (In ANY Market) with Medium-Term Rentals w/Sarah Weaver and Zeona McIntyre
Medium-term rentals are not new to real estate investing, but most investors have hardly heard of them. For years, corporate travelers would rent a room, apartment, or small property for a year or less. These travelers would pay a premium to avoid long-term leases and stay close to their work. But, with the rise of traveling nurses and digital nomads, the medium-term rental strategy is in a revival when investors need it most.
Joining us on today’s show are investors, coaches, and authors, Sarah Weaver and Zeona McIntyre. Their new book, 30-Day Stay, is a masterclass in the wonderful world of medium-term rentals, walking new investors through everything they need to double their cash flow almost overnight. This strategy sounds too good to be true, but even a short-term rental king like Tony Robinson says that he’s intrigued. So is there a catch to this no vacancy, high cash flow, and often headache-free type of housing?
In this episode, you’ll learn the pros (and very limited cons) of investing in medium-term rentals. You’ll also hear which markets this strategy works best in, what type of software you’ll need to run one, and how medium-term rentals are starting to rival vacation rentals! If you’re looking for an investment with a high ROI, that doesn't need to be minutes from a beach, this strategy is for you!
In This Episode We Cover
The medium-term rental strategy explained and why it’s become so popular in 2023
Short-term rental regulations and whether or not they affect medium-term rentals
How to analyze a medium-term rental and what to look for in an investing area
Tenant screening tips and building your lease agreements for medium-term tenants
Which real estate markets work best for medium-term rentals (and which to avoid)
Running your medium-term rental hands-free and the best software picks to choose
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Real Estate Rookie Facebook Group
Semi-Retired at 30 Thanks to One Year’s Worth of Real Estate Investing
Early Retirement Through Short-Term Rental Properties with Zeona McIntyre
W2 Retired and Traveling the World with Just 15 Units w/Sarah Weaver
Connect with Sarah & Zeona:
Check the full show notes here: https://www.biggerpoc...
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