11 episodes

Hey friend, I am Sarah. Welcome to the Nerds Guide to Financial Independence Podcast! I’m here to show you that financial independence can be for anyone who wants it badly enough and that investing in real estate doesn’t have to be scary, take vast DIY knowledge, or involve heaps of debt. When I am not sharing my own progress to FI, I’ll be picking the brains of like-minded debt contentious investors. I am so glad you are here, my fellow aspiring retirees. If you enjoy my content, I have a lot more where that came from over on Instagram @nerdsguidetoFI & nerdsguidetofi.com Support this podcast: https://anchor.fm/nerdsguidetofi/support

Nerds Guide to FI Sarah

    • Investing
    • 5.0 • 1 Rating

Hey friend, I am Sarah. Welcome to the Nerds Guide to Financial Independence Podcast! I’m here to show you that financial independence can be for anyone who wants it badly enough and that investing in real estate doesn’t have to be scary, take vast DIY knowledge, or involve heaps of debt. When I am not sharing my own progress to FI, I’ll be picking the brains of like-minded debt contentious investors. I am so glad you are here, my fellow aspiring retirees. If you enjoy my content, I have a lot more where that came from over on Instagram @nerdsguidetoFI & nerdsguidetofi.com Support this podcast: https://anchor.fm/nerdsguidetofi/support

    11. 2020 will not kill me. WFH mom by day, house hacker by night. My whole story, your questions, and how my mindset will make the dream possible | with ME, Sarah of NGFI

    11. 2020 will not kill me. WFH mom by day, house hacker by night. My whole story, your questions, and how my mindset will make the dream possible | with ME, Sarah of NGFI

    So, THIS episode.  The one I have been avoiding.  The about me one.  I did a little trailer intro to kick off my podcast.  However, I have been LARGELY avoiding covering my own journey because I find my personal life has been a serious dumpster fire.  This is my year of rebuilding and realigning.  Refocusing on building the life I have always wanted. Every system.  Every autopay.  Every bank account.  Every process.  NEW.

    THIS is my honest, REAL path from Dave Ramsey to Real Estate: moving shamelessly into big mortgage debt life while still biting my tongue each time I want to say "good debt"

    While this has been the most painful, hardest year of my life, I am so grateful.  Grateful to have my daughter, who is a 13-month-old little ray of sunshine.  Grateful for my job and the minimum impact COVID has had on it.  Grateful COVID has taken my 40% travel job and made it a 0% travel job while I cope with my life, changing in every way possible.  And grateful for my people.  My parents. Family. Friends. All the amazing folks of the REI or real estate investing community, and of the debt-free community I have come to know via Instagram.  I have learned I have the BEST support system. I am strong, with the ability to rebuild, refocus on my dreams, and keep on going.  I have a whole new appreciation for happiness, stability, and making the very best of any situation.  This past year will forever shape and change me, but in the best ways, even though it has had some of the most heartwrenching, crushing parts. I survived.  I got out.  And now, I get to rebuild it, for ME.  To find me again.  And make the best future -- and mama-- possible for the cutest toddler ever. 
    Today, I will cover the start of my journey to today..... plus the top questions I get from you all.  What is going on with our business? Why did you decide on this type of house hack? How do you manage rentals and a day job?  Why do real estate?  What does your emergency fund look like now? And, where do I see life and business when the dust settles?
    Thanks for sharing in my journey.
    Cheers to the back half of 2020, let’s make it something amazing.
    Rachael Cruze budget video
    Rich Dad, Poor Dad
    Set for Life
    Paula Pant
    Retire Early with Real Estate
    Coach Chad Carson
    Rachel Hollis: Keep. Going.
    The Stealthy Rich

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    • 1 hr 21 min
    10. When you stop, you lose: No-nonsense approach to private money, scoring deals in SOCAL, and why you are better off starting broke | with Mark McMahon

    10. When you stop, you lose: No-nonsense approach to private money, scoring deals in SOCAL, and why you are better off starting broke | with Mark McMahon

    If you are a newer investor starting out, or in a high cost of living market, THIS episode is for you.  Mark shares it all, and isn't afraid to dive through several losses over his career.  Despite million-dollar losses, losing it all in 2008, investing in a high cost of living markets -- Mark and his wife have over a 3 million dollar net worth, and much more is to come.  I LOVE Mark's advice on using private money as an alternative to the BRRRR strategy, aka a leverage strategy.  Mark and his wife, who also is a successful real estate investor in her own right, have navigated the changing markets to grow their empire all while raising 3 boys.  He shares how his deal-finding career evolved from buying mobile homes to finding all their early deals on the MSL to driving for dollars, cold calls, and automated texting.  We talk about how, finding "non-typical" multiunits also works in his market-- as he walks me through how accessory dwelling units, or ACUs, can make some properties in high cost of living markets cashflow.   Mark really epitomizes the idea of work ON your business, not IN your business.  He shares how he has built up a team to run all parts of their real estate empire.  He has some great philosophies on getting started, as well as on never giving up.  He thinks the best kind of real estate investor starts out broke, or at 0.  And that, this position in life may just be the best place to be-- even if it doesn't feel like it at the time.  

    I also thoroughly enjoy the care he takes to manage his properties, and help his tenants.  He reviews steps he, and Rick Jarmin from Real Estate Old School, took to be proactive with their tenants as COVID-19 developed.  They even offered to assist tenants with obtaining unemployment benefits.  You will also hear Mark's predictions as to what the fallout from COVID will look like, when it comes to the "frothy" real estate market today.  By the end of this episode, I felt like old friends with Mark, and I hope you will too.  For sure a guy I would love to share a beer with, as he drops one inspiring story after another.  


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    • 1 hr 7 min
    9. FIRE at 31 in THE highest cost of living city, bravely sharing her IVF journey, loving expense ratios, while always negotiating (AND interviewing!) for jobs | Shang from Save My Cents

    9. FIRE at 31 in THE highest cost of living city, bravely sharing her IVF journey, loving expense ratios, while always negotiating (AND interviewing!) for jobs | Shang from Save My Cents

    Shang (pronounced "shUng") is a badass stock investor who hit FI at age 31 in NYC.  Shang bravely shares their IVF journey to have their beautiful baby boy. Shang has taught me so much, from how to negotiate to ways to keep the #igetto attitude despite all the changes life WILL throw your way.

    We open by talking life in COVID. She makes me greatly appreciate NOT having to deal with the rules and regulations of real estate in NYC. We deep dive into how to always negotiate when considering a new job. Shang shares that you should always negotiate (especially the ladies), always be interviewing and that negotiating a better bonus may be the way to go. We both strongly agree that choosing a career field based on passion is simply a bad idea, even thought permeates our culture today.

    Shang dives into who should and should not use a financial advisor. She gives us some amazing books to read -- my personal favorite, The Simple Path to Wealth by JL Collins, The Broke Millenial’s Take on Investing and Boggleheads Guide to Investing. And how, for the average investor, getting an average rate of return is WAY more simple than you think.  While financial advisors get all the hype, we think the real MVPs are good CPAs, aka tax people. My FAVORITE part is our deep dive into expense ratios. I pick Shang’s brain on using traditional vs. Roth retirement accounts  Shang gives us her take on paying off the mortgage vs. investing in real estate (hitting on the classic 5% rule of personal finance … and we agree that, in America, your primary residence tends to be a terrible investment (and may not even be a true asset!)  Here is my all-time favorite explanation of why the home you live in may not be AS great as an investment as it seems) We wrap up talking about FIRE as a lifestyle, not just a buzz word.  Plus how to choose gurus who truly have your best interests in mind.  I hope you all enjoy Shang as much as I always do, and I bet she will have you googling something after this podcast.

    LEARN:

    Investopedia 

    Morning Star

    Save My Cents: Backdoor Roth IRA

    Mega backdoor Roth IRA with The Mad Fientist

    Rich Dad Poor Dad

    Suzie Orman

    Dave Ramsey


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    • 54 min
    8. REI to FI making 54K with 4 littles, serious long distance landlording, plenty of taco bell, and developing a strong network | David from @DIY_Landlord

    8. REI to FI making 54K with 4 littles, serious long distance landlording, plenty of taco bell, and developing a strong network | David from @DIY_Landlord

    I am coining a new term with this one -- REFI! Financial Independence by Real Estate! This podcast set the record for my longest EVER.  Carve out sometime ( or get your steps in) because listening to David crush it on a 54K salery will amaze you.  He talks through his early days of finding deals all the way from Africa. with the help of his father and business partner.  David and I also share a love for Facebook marketplace deals, live-in flips, and using smart-key locks.  Despite carrying the most business debt of any person I have interviewed to date, David is very debt aware on the personal side.  He was always raised to be wary of debt, and if you must use debt like student loans, you best pay it off fast. He even worked 30 hours a week through college.

    We cover the importance of living on less than you make and learning to be personally financially disciplined, and that you do not need a ton of properties to be financially independent.  A portfolio will look different if you want financial independence vs. want to build a business.  And David was here to build a business.  

    We review two ways David protected himself during COVID.  The first, and everyone's favorite: stacking cash.  The second is access to cash.  You will also hear how David celebrates every deal, and our favorite things on the taco bell menu.  Listen to David scare me strongly away from investing in commercial real estate during COVID.  Also, I have a new life goal of owning an entire street of duplexes now (to avoid “apartment complex” mentality).   And I am hype to learn how he got not one but TWO whole streets of duplexes.  Perhaps you too will learn a new term: elevator (or escalation) clauses.   I love our talk on tenant screening methods, section 8, and all of the benefits of networking local.  David dishes on how he bought his newest primary residence/house hack/live in flip (with FOUR kids, mind you!).  David continues buying but cautiously with COVID.  Finally, hear what David is OUTSOURCING (hint: it is the same sucky task I recently hired out!) to someone else, to buy back his own time.

    Learn:



    BRRRR.  Or a whole book on BRRR.

    Buildium.

    Why David should stock up on 7 layer taco bell burritos while they last. (RIP also loaded grillers)

    Classes of property: my fav article on the topic.  

    Elevator clause, or Escalation clause

    My Automated Tenant Screening System

    The book that saved him $120,000: Never split the difference. 




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    • 1 hr 45 min
    7. Avoiding common mantras of the broke by tracking your net worth, investing in index funds, and keeping your financial plan simple | Jeremy from Personal Finance Club.

    7. Avoiding common mantras of the broke by tracking your net worth, investing in index funds, and keeping your financial plan simple | Jeremy from Personal Finance Club.

    This episode kicks off another one of my podcast dreams, interviewing INVESTORS.  Specifically talking about how it is NOT scary or hard to save and learn to invest your own money.  Jeremy and I have very similar brains, so this one was super fun for us.  He talks about his early days, how he learned to invest via reading, and how he has developed a passion for helping people better understand investing though his Instagram and Blog, the Personal Finance Club.  He dishes on how he too thinks the idea of “FIRE” makes the movement sound lazy which is untrue (so we both prefer the idea of “work optional” life), how he loves a 50% savings rate and how one of his claims to fame is dressing up as a giant, scannable CVS receipt.  Jeremy has been “work optional” since age 34.  He talks about how to avoid the world of monthly payments, how the obsession with credit scores in our country is crazy, and how everyone should know and track their net worth instead.  We even dive into Dave Ramsey’s investing advice, and how we choose a slightly different path. I enjoyed Jeremy’s take on financial advisors, mutual vs index funds, the market today, and the beauty of a SIMPLE financial plan. You will also hear how I am the LEAST fun person to invite to your child’s birthday party, because I can’t even with bad investment advice, and why I have decided to stock some additional canned goods in my pantry.  OH -- and don't forget to see that CVS receipt costume (there is a VIDEO!)



    Learn more:

    Why your net worth is WAY more important than your credit score. 

    The ONE book to read: The beginner’s guide to investing (100 pages WITH charts). 

    The millionaire next door. 

    Why Michael Burry’s Index Fund bubble prediction does not matter. 

    What is a stock

    How do I buy stock

    FZROX vs. VTSAX: The hidden cost of Fidelity’s zero-fee index funds. 



    My top 3 quotes from this episode: 

    I really feel like, with 30 minutes of my time, I could make someone a millionaire 30 years from now.  I could change someone’s financial future, and that really pumps me up.

    The mantra of the broke, the rat race people get caught up in, is the world of monthly payments.

    People are then super concerned about their credit score, which is crazy to me.  The credit score is just this metric of how banks make money off of you.


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    • 1 hr 19 min
    6. Minimum wage laborer to builder to a multimillionaire, 5 recessions and 47 years of marriage later | Rick Jarman, Real Estate Old School

    6. Minimum wage laborer to builder to a multimillionaire, 5 recessions and 47 years of marriage later | Rick Jarman, Real Estate Old School

    If you are in need of some REAL real estate wisdom, the best stories, and a fantastic southern accent, this episode if for you.  Learn what generation is REALLY responsible for putting carpet over those beautiful hardwood floors.  I love to hear Rick tell it like it is.  He shares so many practical tips like how to see if there is hardwood under the carpet.  He talks through all the benefits of section 8, how he loves late fees but always focuses on helping people get back on track, while still maintaining a successful business.  He stresses the importance of keeping turnovers to a minimum, and has only evicted 2 (now 3) people in all of his years as a landlord.  Rick has been doing the BRRRR method since before it was cool, and he has some great suggestions on how he maximizes the amount of money he keeps after the refinance portion of the process.  I think you will love his unique advice on how to start as a newbie, as it was quite different from the "househack" advice that is prevalent everywhere today.  I love his stance on cars and avoiding personal debt.  I also learned that Rick has some hidden musical talents, which even snagged him his wife of 47 years.  She must have been a keeper too, as they have moved 31 times all while raising their son and daughter.  I could have talked to Rick all day (but instead we chatted for an hour and 40 minutes before edits), and you all MUST let me know which of his great stories are your favorite.  Oh AND you should follow him on YouTube, Instagram, his PODCAST AND TicTok.  (I am pretty sure he is a better millennial than I am...) 

    Learn more:  

    The podcast that first led me to find Rick: House hacking success podcast, SURVIVING THE 2008 RECESSION AND GROWING TO OVER 100 PROPERTIES WITH RICK JARMAN | PODCAST 34

    Section 8

    Owner financing 

    Live in flip

    True costs of tenant turnover

    Multifamily vs. Single-family homes (and why we BOTH love single-family homes!)






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    • 1 hr 16 min

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Helene Supreme ,

One of my favourite new podcasts

I’m so glad I discovered this podcast, very thoughtful discussions on all things personal finance!

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