4 Ways to Make Passive Income from Real Estate (Don’t Quit Your 9-5!) w/Devon Kennard
BiggerPockets Money Podcast
Shownotes Transcript
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 Cover
How Devon scaled his real estate portfolio *while *playing in the NFL
Four passive real estate investing) strategies you can use today
Speeding up your financial independence timeline with real estate side hustles
Fast money versus slow money (and which bucket you should be filling)
The pros and cons of syndications and how to weed out “shady” operators
And **So **Much More!
Links from the Show
Listen to All Your Favorite BiggerPockets Podcasts in One Place)
Email Mindy: [email protected]
Email Scott: [email protected]
BiggerPockets Money Facebook Group)
Buy Devon’s New Book “Real Estate Side Hustle”)
How to Make Truly Passive Income with “Syndication” Real Estate)
(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-571)
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