Can rental properties replace your W2 income, lead you to financial freedom, and help you build multimillion-dollar wealth in the process? Yes, and Grant Francke is proof you can do it in a few years or less. After the burnout of forty-eight-hour shifts as a railroad conductor (yes, you read that right) left him searching for an escape, Grant stumbled upon real estate investing and the BiggerPockets Real Estate podcast. Within three years, he built up enough cash flow to quit his job and never looked back.
In today’s show, Grant walks through the “boring,” stable, and safe rental property investments that have led him to complete financial freedom. He’ll touch on the first duplex he bought, why Grant prefers multifamily real estate to single-family homes, reverse-engineering your financial freedom to calculate HOW many rentals you need, and the sacrifices he had to make to get there.
If you’re tired of missing out on time with your family, children, or friends and want to start living life on YOUR schedule while making MORE money than you would at your job, this is the place to start!
In This Episode We Cover
How to replace your W2 income with real estate investing
Calculating your financial freedom number and how much cash flow you’ll need to quit
How to test whether or not you CAN live without your W2 salary
Why Grant prefers the safety of multifamily rentals compared to single-family rentals
Financing and funding your first rentals and what to do when you start scaling FAST
The “controlled growth” strategy Grant uses to safely build wealth and make more passive income
And So Much More!
Links from the Show
Join BiggerPockets for FREE
Grab Your Copy of “Rich Dad Poor Dad”
Find Investor-Friendly Lenders
See Henry at BPCON2024 in Cancun!
4 Serious Points to Consider Before Quitting Your Miserable Job to Invest
(00:00) Intro
(02:02) 48 Hour Shifts!?
(03:17) Replacing His Salary
(10:21) Quitting and Buying First Rentals
(17:33) Current Portfolio and Financing
(21:19) Real Deal Review
(24:37) Scaling with “Controlled Growth”
(30:39) Replace YOUR W2
Check out more resources from this show on
BiggerPockets.com and
https://www.biggerpockets.com/blog/real-estate-996
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