Real estate investing is one of the best vehicles for building wealth, reaching financial independence, and saving for retirement, but you don’t need to become a full-time investor to reap the benefits. If you have no plans to leave your W2 job or manage rentals, there are several ways to use real estate for passive income!Welcome back to the BiggerPockets Money podcast! When Devon Kennard entered the NFL, he ran into more money than he had ever made. But with no guarantee of a pay raise or second contract, Devon forewent the flashy car and multi-million-dollar home and started saving and investing instead. Shortly after buying his first rental property, Devon realized that he was going to need passive or semi-passive income streams if he wanted to have success on the football field. He landed on four different types of passive investments that have helped him scale his portfolio to twenty-nine doors and over forty syndications!In this episode, Devon talks about the importance of increasing your income in your working years and why small wins make all the difference early on in your investing journey. You’ll also learn about the dangers of “shady” real estate syndications and how to properly vet an operator, as well as the differences between fast and slow money!In This Episode We CoverHow Devon scaled his real estate portfolio while playing in the NFLFour passive real estate investing strategies you can use todaySpeeding up your financial independence timeline with real estate side hustlesFast money versus slow money (and which bucket you should be filling)The pros and cons of syndications and how to weed out “shady” operatorsAnd So Much More!Links from the ShowMindy on BiggerPocketsScott on BiggerPocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceJoin BiggerPockets for FREEEmail Mindy: [email protected] Scott: [email protected] Money Facebook GroupSupport Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real EstateBuy Devon’s New Book “Real Estate Side Hustle”Property Manager FinderHow to Make Truly Passive Income with “Syndication” Real EstateConnect with Devon(00:00) Intro(07:56) Saving $1M in 3 Years!(15:37) Making “Small” Bets(21:08) Passive Real Estate 101(31:59) Devon’s Portfolio & Strategy(39:17) “Shady” Syndications(45:56) Commercial Investing (47:08) Devon’s New Book! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-571Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related