BiggerPockets Podcast 239: Achieving Financial Freedom at Age 32 with Austin Fruechting
Many people dream of achieving financial freedom, but how many actually get there? Today on The BiggerPockets Podcast, you’ll meet one man who did just that. Austin Fruechting began buying rental properties less than 10 years ago, but by the age of 32 was able to retire on the cash flow coming in. You’ll learn just how he was able to do this by reverse engineering success, buying rental properties in bulk, and using the BRRRR strategy to minimize the cash he needed to buy his properties. Whether you are looking to achieve financial freedom at 32, 52, or 72, this podcast is one you don’t want to miss!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
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In This Episode We Cover:
- How Austin got started in just 9 months
- The details of his first deal
- Tips for accessing lines of credit as a newbie
- What you should know about unsecured lines of credit
- How he finds the deals
- Why he doesn’t invest in turnkey properties
- How to map out the passive income financial freedom involves
- What it’s like to achieve financial freedom at 32
- What exactly a long-term buy and hold is
- How to find a good property manager
- The best deal Austin’s ever done
- And SO much more!
Links from the Show
Books Mentioned in this Show
Fire Round Questions
- German roaches – tardy tenants
- Newbie Wondering Where I Should Invest?
- Newbies: What is the competitive advantage?
- Best advice you were given?
- “The fear is always going to be conquered by knowledge.” (Tweet This!)
- “When the right deal is there, I do whatever it takes to get it done.” (Tweet This!)
- “As long as you keep proving yourself, it opens some other doors.” (Tweet This!)
- “All of the pros started as complete novices and beginners too.” (Tweet This!)