Dawn Brenengen’s money story begins a bit differently than most. Dawn’s parents shared their finances with her. She knew what things cost, she knew her parents worked hard to pay off their mortgage, and she saw her mother writing checks to pay bills every month.
She went to college and graduated with relatively little debt—around $21,000 in student loans and credit cards combined. After graduation, she stayed at her low-paying college job until her father suggested she get a real estate license.
Dawn completed the work for the license and got a job making almost the same money, working for a builder and selling their new homes. But she was the assistant to the agents who were making the BIG BUCKS, and she knew that’s what she really wanted to be doing.
At the time, real estate agents were eligible to take the test to open up their own brokerage simultaneously with the licensing test, so she did that. While working as an assistant, she laid the groundwork to strike out on her own, eventually ramping up her income to multiple six-figures—with virtually limitless potential.
Here Dawn share her story of how hard work and determination paid off tenfold—and all in just four short years!
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In This Episode We Cover:
- Dawn’s background with money
- How she grew up in a financially literate household
- The debts she accumulated during and after graduating college
- How she paid off her debts
- Is it possible to invest your student loan?
- What happened after she got her real estate license
- How she got serious about making money and building her financial position
- Having a goal to get a job where she was making a bulk of the commission
- Started her own brokerage business in 2010
- People she recommend to hire out when starting a business
- How much time and money is needed to start a business
- The benefits of having a business partner
- Her wealth building philosophy
- Dawn’s investment approach
- Private lending on her surplus cash
- What private lending is
- Her annual spending and her income
- And SO much more!
Links from the Show
- BiggerPockets Forums
- Mr money Mustache
- Frugality as a Muscle – Mr. Money Mustache
- BiggerPockets Money Podcast 26: Graduating College on Track for Financial Independence with Cody Berman
Books Mentioned in this Show
- “To be able to increase your income, there has to not be a ceiling.” (Tweet This!)
- “Don’t spend more than you make and aim for a lot less.” (Tweet This!)
- “Having a cushion is so important.” (Tweet This!)
- “You learned from those hardships.” (Tweet This!)