353: Turning $5k into $5k/Month and Retiring at 40 with Tim Rhode
Published October 24, 2019
70 min
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    “Trading up” to successfully retire financially free at 40! On today’s show, Brandon and David interview retired real estate broker Tim Rhode, who explains how he was able to buy great deals and 1031 exchange them into financial freedom! Tim shares some fantastic advice on playing great financial defense to achieve an early retirement, crushing it in real estate sales, and locking up deals during his first conversation with sellers. Tim also shares how knowing his market led to him making hundreds of thousands buying land in the path of progress, how to build a “fulfillment triangle," and how he recognized the market turning in 2006 and cashed out before losing money. Tim has a huge heart, is committed to helping others get out of the rat race, and shares some incredible advice on how to do so. Make sure you listen for his description of the several levels of financial freedom and his belief that those who make it to the top of the mountain should throw down the rope for the rest still climbing. Download this one today! In This Episode We Cover:Levels of risk toleranceDelegating things you're not good atHow he got into real estate salesPlaying great "defense"Not caring about what others thinkHow he invested everything left over that he didn’t spendHow he bought his first property—a triple wide mobile home—for 50 cents on the dollarUsing his influence as a broker to get great deals before they hit the marketHow he bought land in the path of progressHow he exchanged several good deals by “trading up” into a triple net lease commercial property out of stateHis philosophy on timing marketsHis “fulfillment triangle”The power of the 1031 exchangeWhich houses he flipped and which he keptHow he retired at 40 years oldThe multiple levels of financial freedomThe financial freedom principles he teaches in his non-profitWhere he believes we are in the current market cycleAnd SO much more! Links from the ShowBiggerPockets ForumsBiggerPockets Podcast 326: Health, (Big) Wealth, and Total Accountability With David Osborn, Pat Hiban, Tim Rhode (and Josh!)Firestarter BiggerPocketsWayne DyerTom HopkinsZig ZiglarBiggerPockets BookstoreGoBundanceBiggerPockets ProEmail Us: podcast@biggerpockets.com Check the full show notes on BiggerPockets: http://biggerpockets.com/show353
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