Turning $5K Into $5K/Mo Passive Income and Retiring at 40 | BiggerPockets Podcast 353

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On today’s show, Brandon and David interview retired real estate broker Tim Rhode, who explains how he was able to buy great deals and 1031 exchange them into financial freedom!

Tim shares some fantastic advice on playing great financial defense to achieve an early retirement, crushing it in real estate sales, and locking up deals during his first conversation with sellers.

Tim also shares how knowing his market led to him making hundreds of thousands buying land in the path of progress, how to build a “fulfillment triangle,” and how he recognized the market turning in 2006 and cashed out before losing money.

Tim has a huge heart, is committed to helping others get out of the rat race, and shares some incredible advice on how to do so. Make sure you listen for his description of the several levels of financial freedom and his belief that those who make it to the top of the mountain should throw down the rope for the rest still climbing. Download this one today!

Check the full show notes here: https://www.biggerpockets.com/blog/biggerpockets-podcast-353-tim-rhode

Comments

Ryan Redmond says:

Somebody get this guy a mustache! Seriously though- great episode, guys.

Mozart Martins says:

Thank to you guys I am discovering how to create equity here in Brazil with real state…
It is possible…

Payton Pearson says:

30:03 – If you wind it too many times before release, you break the rubber band.

DREW L says:

"Getting the goods in the woods!!!"

Eva Dees says:

The 1031 kidney exchange. 😂😂😂

Lenchick says:

💯👌👍

rosieos says:

Wait, brother-in-law’s wedding? Wouldn’t that be your sister’s (or brother’s) wedding???

Ian Jack Cleanyourmachineinc says:

Great one guys 👍 thanks.

Linda Carretero says:

What an awesome show. Great interview as always.

Laura Holzler says:

Thank you for your thoughtful guidance. I really appreciate being able to see what will happen long term.

M K says:

So good. Thanks!

benjiebarker says:

how do you get $60k cash, what? i have to fix my credit.

benjiebarker says:

tim's story is awesome. But when he was talking about buying all these properties during the start of his career, did he have to have good credit?

Sheila G says:

Wayne Dyer- YES ! Inspired David Greene-Yes!!! Inspired story!

Jasmine B says:

"Señor! Habla ingles!?"
"I'm Black!" 🤣😭😭😭😭😭

KloutKulture says:

Let's goooooooooo

Vaughan E. says:

Already retiring from law enforcement in 2 years. The goal is to retire from everything in 5 years. You guys are gonna play a big role in that.

Travis Pinder says:

Guess I'm retiring at 40🤷‍♂️😁

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