Fast-Track FI by “Gamifying” Your Finances and Making Your Own Luck

BiggerPockets Money Podcast

The combination of saving money and buying rentals is a recipe for reaching financial independence much faster than you thought possible. Just ask today’s guest, who started with tens of thousands of dollars in debt but was able to achieve FI in just a few years!

Henry Washington is a real estate investor, author of Real Estate Deal Maker, and co-host of the On the Market podcast, but he doesn’t have your typical “rags-to-riches” money story. Despite an upper-middle-class upbringing and landing a six-figure job right out of college, Henry was a serial spender. Before he knew it, he had racked up $40,000 in credit card debt and was told by banks that he was unlendable. Horrified by what his family’s future would look like on its current trajectory, Henry was determined to get his finances in check. He caught the real estate bug, attended meetups and networking events, befriended other investors, and found his first deal!

Henry went on to build and scale a real estate portfolio of over 140 units, and in this episode, he provides actionable advice that will help you break into real estate—whether you aspire to own a single rental property or twenty. Along the way, you’ll learn about “gamifying” your way to financial freedom, funding a down payment without money in the bank, and the recession-proof investing strategy Henry still uses today!

In This Episode We Cover

How Henry scaled his real estate portfolio to over 140 units in just seven years

How “gamifying” your finances can turn you from a spender into a saver

Why finding good deals is the key to a recession-proof investing strategy

Getting a crash course in real estate investing through local meetups and networking

Creative ways to come up with the down payment for an investment property

The three phases of rental property investing that lead to generational wealth

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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Email Mindy: [e-mail]

Email Scott: [e-mail]

BiggerPockets Money Facebook Group

On the Market Podcast

Rich Dad Poor Dad by Robert Kiyosaki

Buy Henry’s Book “Real Estate Deal Maker”

Find Investor-Friendly Lenders

30 Ways to Find Good Real Estate Deals in 2024

Connect with Henry

Henry’s Instagram

(00:00) Intro

(01:10) Racking Up $40K Debt

(06:06) Catching the Real Estate Bug

(11:24) “Gamifying” Finances & Networking

(16:37) Henry’s First Deal

(24:18) Making Your Own Luck

(30:17) Henry’s Current Portfolio

(36:26) Saving His Rental Income

(43:22) How to Get Started in 2024

(46:39) Connect with Henry!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-574

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