{"id":59657,"date":"2014-07-10T00:05:13","date_gmt":"2014-07-10T06:05:13","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=59657"},"modified":"2023-04-11T05:09:32","modified_gmt":"2023-04-11T11:09:32","slug":"2014-07-10-bp-podcast-078-brie-schmidt-quit-job","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2014-07-10-bp-podcast-078-brie-schmidt-quit-job","title":{"rendered":"Quitting Your Job, Buy &#038; Hold Investing, and Succeeding With High-End Rentals with Brie Schmidt"},"content":{"rendered":"<p>Today on the BiggerPockets Podcast we are excited to sit down with a real estate investor who just\u00a0said &#8220;you&#8217;re fired!&#8221; to her day job and became a\u00a0full-time real estate investor!<\/p>\n<p>We are talking with <strong>Brie Schmidt,<\/strong> who invests in a wide range of rental properties in the Midwest and shares some incredible insight into how she finds them, finances them, and manages them. In our conversation we dive into some really important topics regarding personal finances, getting your first deal, working with your spouse, tenant-friendly laws, when to quit your job, and a lot more! You are going to LOVE this episode!<\/p>\n<h2>Today&#8217;s Sponsor: PayNearMe<\/h2>\n<p><a href=\"http:\/\/www.paynearme.com\/biggerpockets\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-55075\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2014\/03\/PayNearMeLogoSmall.png\" alt=\"PayNearMeLogoSmall\" width=\"230\" height=\"33\" title=\"\"><\/a>Our sponsor today is more than a sponsor- it&#8217;s a company I know and love &#8211; and that is\u00a0<a href=\"http:\/\/www.paynearme.com\/biggerpockets\" target=\"_blank\" rel=\"noopener\">PayNearMe<\/a>. This is a service I use every month to collect rent and highly recommend. In the past, my tenants used to either mail rent or drop it in a drop box &#8211; but this was a major hassle. So now, I use PayNearMe, which allows tenants to pay their rent, in cash, at any 7-11 or FamilyDollar. I get notified immediately that they paid and their rent gets direct deposited into my checking account. You can learn more or sign up at <a href=\"http:\/\/PayNearMe.com\/biggerpockets\" target=\"_blank\" rel=\"noopener\">PayNearMe.com\/biggerpockets<\/a> &#8211; and if you are a BiggerPockets Pro member, be sure to sign up through the link at <a href=\"https:\/\/www.biggerpockets.com\/perks\" target=\"_blank\">BiggerPockets.com\/perks<\/a> to get a $30 Amazon Gift Card when your tenant makes their first rent payment!<\/p>\n<h2>Read the Transcript<\/h2>\n<p><a href=\"https:\/\/www.biggerpockets.com\/bpp78-brie-schmidt-podcast-transcript-managing-quitting-your-job-high-end-rentals\" target=\"_blank\">Click here<\/a> to read the transcript.<\/p>\n<h2>Listen to The Show on iTunes<\/h2>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC9852470858\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h2>In This Show We Cover\u2026<\/h2>\n<ul>\n<li>Why Brie chose a <strong>triplex<\/strong> for her first primary residence<a href=\"https:\/\/www.biggerpockets.com\/podcast\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-36121\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2013\/01\/BiggerPockets-Podcast-Cover.jpg\" alt=\"BiggerPockets-Podcast-Cover\" width=\"188\" height=\"188\" title=\"\"><\/a><\/li>\n<li>Choosing <strong>appreciation<\/strong> vs. <strong>cash flow<\/strong> in a buy and hold investment<\/li>\n<li>Why Brie decided to diversify her investments into <strong>long-distance investing<\/strong>.<\/li>\n<li>What makes an area \u201c<strong>landlord<\/strong>&#8211;<strong>friendly<\/strong>\u201d vs. \u201c<strong>tenant<\/strong> <strong>friendly<\/strong>&#8220;<\/li>\n<li>Dealing with <strong>maintenance request<\/strong> issues.. even while on <strong>vacation<\/strong>.<\/li>\n<li>Why Brie calls herself a \u201c<strong>YouTube Landlord<\/strong>&#8220;<\/li>\n<li>Real Estate as a <strong>hobby<\/strong> vs. a <strong>business<\/strong><\/li>\n<li>Why Brie <strong>encourages Pets<\/strong>.. even a 120lb dog!<\/li>\n<li>When should you <strong>quit your job<\/strong>?<\/li>\n<li><strong>Investing<\/strong> <strong>with<\/strong> <strong>your<\/strong> <strong>spouse<\/strong>: how to make it work<\/li>\n<li><strong>House Hacking<\/strong> and using your <strong>personal finances to fund your investments<\/strong><\/li>\n<li>Using <strong>online software<\/strong> to help you control your spending and invest in real estate<\/li>\n<li>The <strong>one question<\/strong> that Brie asked that led to a ton of <strong>deals<\/strong>, <strong>financing<\/strong>, and <strong>partnerships<\/strong>.<\/li>\n<li>Should you <strong>allow<\/strong> <strong>smokers<\/strong> in your <strong>rental<\/strong> <strong>unit<\/strong>?<\/li>\n<li>And a <strong>TON<\/strong> more!<\/li>\n<\/ul>\n<h2>Links from the Show<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/pages\/webinar\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Webinars<\/a><\/li>\n<li><a href=\"http:\/\/PayNearMe.com\/biggerpockets\" target=\"_blank\" rel=\"noopener noreferrer\">PayNearMe.com\/biggerpockets<\/a><\/li>\n<li><a href=\"http:\/\/www.handymanmatters.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Handyman Matters<\/a><\/li>\n<li><a href=\"http:\/\/www.hgtv.com\/income-property\/show\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">Income Property TV Show<\/a><\/li>\n<li><a title=\"How to \u201cHack\u201d Your Housing and Get Paid to Live for Free\" href=\"\/renewsblog\/2013\/11\/02\/hack-housing-get-paid-live-free\/\" target=\"_blank\" rel=\"noopener noreferrer\">How to Hack Your Housing and Get Paid to Live For Free<\/a> Blog Post by Brandon Turner<\/li>\n<li><a href=\"http:\/\/Mint.com\" target=\"_blank\" rel=\"noopener noreferrer\">Mint.com<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/flippingbook\" target=\"_blank\" rel=\"noopener noreferrer\">The Book on Estimating Rehab Costs<\/a> book by J Scott, Published by BiggerPockets Publishing.<\/li>\n<li><a title=\"Tenant Screening: The Ultimate Guide\" href=\"\/renewsblog\/2013\/01\/27\/tenant-screening\/\" target=\"_blank\" rel=\"noopener noreferrer\">Tenant Screening: The Ultimate Guide<\/a><\/li>\n<li><a href=\"http:\/\/www.postlets.com\" target=\"_blank\" rel=\"noopener noreferrer\">Postlets.com<\/a><\/li>\n<li><a href=\"http:\/\/ifttt.com\" target=\"_blank\" rel=\"noopener noreferrer\">IfThisThenThat: IfTTT.com<\/a><\/li>\n<\/ul>\n<h2>Books Mentioned in the Show:<\/h2>\n<ul>\n<li><a href=\"http:\/\/amzn.to\/2amt0fy\" target=\"_blank\" rel=\"noopener noreferrer\">The Millionaire Real Estate Investor<\/a> by Gary Keller<\/li>\n<li><a href=\"http:\/\/amzn.to\/2aORO0w\" target=\"_blank\" rel=\"noopener noreferrer\">The One Thing<\/a> by Gary Keller<\/li>\n<\/ul>\n<h2>Tweetable Topics:<\/h2>\n<blockquote><p>&#8220;They should force lawmakers to own rental properties before writing the laws.\u201d (<a href=\"https:\/\/twitter.com\/home?status=%22They%20should%20force%20lawmakers%20to%20own%20rental%20properties%20before%20writing%20the%20laws!%E2%80%9D%20@BiggerPockets%20Podcast%20078%20http:\/\/bit.ly\/1jessef\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a>)<br \/>\n&#8220;BiggerPockets: Pissing Off Employers Since 2004\u201d\u00a0(<a href=\"https:\/\/twitter.com\/home?status=BiggerPockets:%20Pissing%20Off%20Employers%20Since%202004!%20%20(Podcast%20078%20%23Quote!%20)%20http:\/\/bit.ly\/1jessef\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a>)<br \/>\n&#8220;What\u2019s more important? Getting rich or staying married?\u201d\u00a0(<a href=\"https:\/\/twitter.com\/home?status=%22What%E2%80%99s%20more%20important?%20Getting%20rich%20or%20staying%20married?%E2%80%9D%20@BiggerPockets%20Podcast%20078%20http:\/\/bit.ly\/1jessef\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a>)<br \/>\n\u201cThe beginning of budgeting is understanding where you are.\u201d\u00a0(<a href=\"https:\/\/twitter.com\/home?status=%E2%80%9CThe%20beginning%20of%20budgeting%20is%20understanding%20where%20you%20are.%E2%80%9D%20%20@BiggerPockets%20Podcast%20078%20http:\/\/bit.ly\/1jessef\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a>)<br \/>\n\u201cI\u2019ve learned more on the BiggerPockets forums than any book I\u2019ve ever read.\u201d\u00a0(<a href=\"https:\/\/twitter.com\/home?status=%E2%80%9CI%E2%80%99ve%20learned%20more%20on%20the%20@BiggerPockets%20Forums%20than%20any%20%23book%20I%E2%80%99ve%20ever%20read!%E2%80%9D%20%20%20(Podcast%20078%20%23Quote)%20http:\/\/bit.ly\/1jessef\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a>)<\/p><\/blockquote>\n<h2>Connect with Brie:<\/h2>\n<p>Brie\u2019s <a href=\"https:\/\/www.biggerpockets.com\/users\/briebrian\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPocket Profile<\/a><br \/>\nBrie\u2019s Twitter: <a href=\"http:\/\/www.twitter.com\/chicagobrie\" target=\"_blank\" rel=\"noopener\">@ChicagoBrie<br \/>\n<\/a>Brie&#8217;s Website: <a href=\"http:\/\/www.chicagobrie.com\" target=\"_blank\" rel=\"noopener noreferrer\">ChicagoBrie.com<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today on the BiggerPockets Podcast we are excited to sit down with a real estate investor who just\u00a0said &#8220;you&#8217;re fired!&#8221; to her day job and became a\u00a0full-time real estate investor! [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":119585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-59657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/59657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=59657"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/59657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/119585"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=59657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=59657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=59657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}