BiggerPockets Podcast 239: Achieving Financial Freedom at Age 32 with Austin Fruechting

by | BiggerPockets.com

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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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

Tweetable Topics:

  • “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!)

Connect with Austin

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 1500,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

11 Comments

  1. Kim Stofan

    Thanks for the podcast! I was trying to follow how you were able to track down the seller who ended up selling you 80 of his units. You said you found the MLS listing and was able to track down the name of the owner using tax records on the county assessor site. How were you able to find out that he owned all the other property?

    • Daniel Dietz

      @Kim Stofan,
      I am not sure how he does it where he is, but on our County GIS which is a mapping/info system with public access, it is VERY easy once you learn how to do it.

      You can either look up by name if you know of someone who owns the properties and do a simple search to see what all they own in the county. It shows location, value, etc…

      The other way is you can do ‘drive bys’ to find place of interest to you, see who owns them and then do a search on what else they own. I just did this recently when I found 4 nicely maintained duplexs in a primarily SFH area. When I went to see who owned them, the same couple owned all 4. I then did a search and found 3 more they owned. We are now in the early stages of talking about a potential deal as they near retirement.

      Dan Dietz

    • Tracey Geary

      Awesome show as always! Love that @Josh Dorkin went to Glacier – absolutely one of the most beautiful places ever!
      I’m not sure what to call us BP’ers but in addition to t-shirts (I’m not much of a tee person) how about a magnet for my car or a pin for my non-tee shirt?

    • Austin Fruechting

      Hi Kim, I first searched the property address for the MLS listing which told me who the owner was. Then I searched that owner to find out everything he owns. I’m closing on another portfolio of 12 homes and 5 duplexes next week that I got from doing that same method.
      Daniel posted some great info in regards to that too.

  2. Daniel Dietz

    @Austin ,
    Would you mind sharing a bit more on the 80 unit deal? In particular, I am wondering what % down you had to pay, if there was any owner financing involved, and did you do them all as one blanket loan or separate them out into smaller bundles?

    Great Podcast…. You have a lot of the same attitude that we do and I got a lot of inspiration from it!

    Dan Dietz

    • Austin Fruechting

      Hey Daniel, I broke it apart into two packages and each package had just one blanket mortgage. There was no seller financing involved. I have a a long term established relationship with my bank, so they allow me to purchase with as little as 10% down so long as their loan doesn’t exceed 70% of the appraised value.

  3. Don Spafford

    ** Yes, please provide us with BP swag. I found a site mentioned on a much older podcast and placed an order but it said they were waiting for more orders in order to produce it. I want to wear some shirts proudly and have my kids wear them to school as well to bring up questions. My 15 y/o is already planning on a house hack when she moves out. Tell Mindy to get on that asap! – Cool podcast also!

  4. Khaled Helmi

    Excellent job Josh defining Financial Freedom. You guys need to do that more in future podcast because I think there’s a big misunderstanding what Financial Freedom means. Some people think it means to be able to do whatever you want whenever you want and not have to worry about money, while other people understand it in the way that it was defined in this podcast.

    Great show though!

    • Austin Fruechting

      There’s definitely a spectrum of financial freedom. There’s the bare minimum, live as cheaply as possible and never do anything but meet your basic needs. On the other side there’s stupid money to spend as much as you want on anything at all. We chose the middle ground. We calculated our ideal life that would maximize our happiness… travel when we want, go out when we want, etc.

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