Almost at Financial Freedom (with Only 4 Rental Properties!)

Financial freedom is a goal that many on this show have tried to reach. But is it possible to do it with only a handful of rental properties? Today we talk to Jake Simon, who conquered his fear of “good debt” so he could buy more rentals, expand his passive income, and reach financial freedom at a relatively young age.
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Debt Is Good When It Comes to Real Estate:
www.biggerpockets.com/blog/go...
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Episode 201
Show notes at: www.biggerpockets.com/moneysh...

[@77dnm]

The info about the 4 rentals starts at about 40:00

[@mr5timewcwchamp]

Thank you!

[@adama.3178]

Not all heroes wear capes, some leave TH-cam comments

[@chikipichi5280]

Jesus Christ

[@skont5473]

You are a life saver

[@thpq]

Hats off to this guys wife, alot women would have given him a hard time about having to move so much. Uncommon women, and i admire his vision to go foward puting his family in the right place.

[@AngelicaSanchez-mt4vt]

He also helped her pay 40K in debt soooo I guess I would trust the man 😅

[@lovemyellie9320]

I salute this guy!!! Way to go sir👍🏼👍🏼

[@malikhunt9367]

Good story, but everyone will be able do what he is doing. A couple of things standout work his story. He has a great job with great income. Second thing, is that he did and does the majority of his own repairs to the houses. Also, he has a very supportive and understanding spouse

[@LaurenC1.4]

Thankful for the fallen servicemen and women on this Memorial Day. Your sacrifice is remembered today and always. Your actions have helped enable all of us to live lives free from tyranny and pursue financial freedom if we choose. 💙

[@kaushikvsmaniyan]

41:05 - the magnificent seven? 😂

[@mr5timewcwchamp]

I want 5 properties, paid off in about 15 years that generate about 10k/month gross. Then I’ll worry about scaling. That’s highly doable. Won’t be levered like crazy, and the cash flow should be able to pay themselves off in that time.
I know the math, but I also want to keep what I get

[@malikhunt9367]

Good luck with that

[@kaitlynbaird358]

What community do you buy in, in Cleveland. I’m just learning about FI and now saving for my first multifamily in northeast Ohio but don’t know what neighborhood to look in.

[@adama.3178]

The short answer is in an area that will pay you 1% of the mortgage every month AKA the 1 percent rule.

[@michellec3589]

Wait, what did he say about investments or 401k?

[@malikhunt9367]

Edit… everyone will not