Episode 136

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Published on:

13th Mar 2024

First Time Real Estate Investor? Don’t Make These 3 Mistakes | E136 Dustin Heiner

If you’re interested in early retirement, you have to consider how you will afford life when a paycheck isn’t hitting your bank account every other Friday. Of course, my favorite method is investing in the stock market. This provides dividend income and the ability to sell your stocks when you need to but there is another obvious method out there - real estate.

I don’t know how we’ve gone 135 episodes without extensively discussing investing in real estate. It may be because it isn’t something I currently participate in but it has my attention. When I think about my draw-down method, there is hesitation on what I would do if I felt like we were in a down market and I’m wondering if rental income would give me much-needed stability through my early FI years.


So I’m putting some effort into learning about it and if you do the same, there is one educator you will likely run into: Dustin Heiner. Dustin is the Host of Master Passive Income and is on a quest to help one million people get started investing in real estate. He is of course a real estate investor himself and at the age of 37, was able to quit his job because he had enough passive income from his real estate investments.


In this episode, we discuss three common mistakes that Dustin wants you to know about before you buy your first property. Our goal in this conversation is to prevent you from making mistakes that Dustin had to learn the hard way early on.


So if you’re interested in real estate investing, let’s get into it. I hope you enjoy my conversation with the father of 5 and successfully unemployed…Dustin Heiner.


Key Takeaways:

  • What you should do first before worrying about finding or financing your first property
  • Rules you can set in place to make your real estate business more passive
  • How to estimate the cost of common real estate expenses
  • One rule to put in place so your property makes you money no matter what happens with the property value
  • How to negotiate your offer
  • How to create passive income through real estate


Mentions:

Free Course: https://masterpassiveincome.com/freecourse/


More of Dustin:

Website: https://masterpassiveincome.com/dustin-heiner

Instagram: https://www.instagram.com/thedustinheiner/


More of The Struggle is Real:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

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FI Minded: Achieve Financial Independence & Have Fun Doing It
Achieve Financial Independence & Have Fun Doing It
Want to achieve financial independence without missing out on the fun?

FI Minded is for anyone who wants to achieve financial freedom, live life on their own terms, and, most importantly, enjoy the journey along the way!

Whether you’re just starting to think about financial independence or already deep into the process, FI Minded gives you the tools and inspiration to make FI a reality - without giving up the things you love.

Each episode, we’ll cover topics like:
*Financial Independence Strategies: Simple, actionable advice to reach FI faster (if that’s your goal).
*Work Optionality: Transitioning from the corporate grind (no more "one more year syndrome") to a life of freedom and flexibility.
*Lifestyle Design: How to build a life that aligns with your values, goals, and dreams.
*Stories from the FI Community: Real people sharing their journeys to FI and what they’ve learned.
*Fun with FI: How to save your future and enjoy your current life through CoastFI, mini-retirements, travel, or just making the most of your time.
*Fighting Burnout: Balancing saving for your future while staying mentally healthy.

Some of our past guests include:
Carl Jensen (1500 Days), Jeremy Schneider (Personal Finance Club), Nick Loper (Side Hustle Show), Andrew Giancola (The Personal Finance Podcast), Jordan Grumet (Earn & Invest), Jill Sirianni (Frugal Friends), Jacking Cummings-Koski (Catching Up to FI), Jesse Cramer (Personal Finance for Long-Term Investors), Diania Merriam (Optimal Finance Daily), Rachael Camp (Work Optional), Jillian Johnsrud (Retire Often), Sean Mullaney (FI Tax Guy), Joel Larsgaard (How to Money), Erin Lowry (Broke Millennial).
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