The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years | BiggerPockets Podcast 448

www.biggerpock...
Busy people tend to be...busy, and often, real estate investing is one of the things that they “just don’t have time for”. If you feel that way, listen to today’s guest, Dion Mcneeley as he describes his own system for buying real estate the “lazy” way.
Dion was a police officer and a truck driving instructor, taking care of his kids as a single parent, and struggling to get ahead. He went from $89,000 in debt to becoming debt free and financially free, thanks to the help of rental properties, in just 10 years.
After buying his primary home, Dion heard of success in owning rental properties, so he decided to move out of his house and into an apartment to see if he fit as a landlord. He rented the house to his friend, who later moved out without notifying him. Dion tried to make landlording work with another tenant, but ended up being underwater on the house payments. This is when he found BiggerPockets and read Rich Dad Poor Dad.
What was Dion’s mistake? He wasn’t running his rental properties like a business. After upgrading his processes, he went on to buy and house hack a duplex. Then he bought another duplex as an investment, and another one, then another house hack duplex. Within just 6 years, he had 7 units and was raking in $2,700 a month in pure cash flow!
Dion talks about the mistakes he made, why he prefers side-by-side duplexes, how he’s located his properties for maximum asset protection, and goes into his amazing strategy for getting tenants to sign longer leases and raise their own rents. You can check out Dion’s KZbin channel or find him on the Real Estate Rookie Facebook Group!
Check the full show notes here: www.biggerpock...

[@DionTalkFinancialFreedom]

Talk about surreal. I really hope people learn from my mistakes. And thank you guys for making this a great experience. I’ve been watching and learning for so long it feels awesome to be able to give back.

[@LifeofKairo]

Nice work Dion!

[@briansmith9258]

Really inspiring, thank you for all you do!

[@menardtexsampson3745]

Yes man it was a great show and the simplicity of the way you executed it is awesome keep on doing what you’re doing and I love the fact that you like to share and help others that will come back tenfolds the more you do it

[@kyleclark795]

Great episode. Thanks for all of the info and inspiration. I'm also a Marine Corps vet and I feel like I can relate a lot to your story. I'm looking at breaking into real estate but I'm trying to do as you say and take it one step at a time. I don't want to get stuck in the analysis paralysis phase but I also don't want to rush things and put myself in a bad spot. Hearing you (and the BiggerPockets Podcast) talk about these things in a way that someone like myself can relate to makes each step seem progressively more attainable. Thanks for all you do.

[@justinfalk3276]

Great story. You gained a new follower.

[@miltt8947]

It’s official! If he can do it being lazy we all can!! I’m 23 I’m giving myself 7-10 years!!

[@DionTalkFinancialFreedom]

That’s awesome. You got this.

[@yonmoore]

I got started at about that same age. Of course I wish I could have bought more back then (2004-2015) so I guess the best advice I can give you is to not give up as easily as I did when I confronted what I thought was a roadblock. For example, for me at the time, my road block was obtaining financing. So identify what's holding you back and be more persistent than I was!

[@sabied5132]

@@yonmoore Nnnnp

[@b.michaelbrown1117]

Any progress?

[@liammwaghorn]

This was fantastic. Listening while painting my first duplex

[@DionTalkFinancialFreedom]

That’s awesome. 😀

[@hammerradiology1470]

You go Liam! Rooting for you. :)

[@brendagodinez8285]

Congratulations

[@littlesunshine2069]

Congrats 🍾

[@nfrankiksa4596]

Amazing

[@erinwalsh6803]

"There has to be a way to make money that doesn't involve SELLING MY LIFE ONE HOUR AT A TIME".... thank you for that reality check, and for bringing that feeling into the open by putting it into words and making it something it is possible to DO something about!

[@DionTalkFinancialFreedom]

Thank you. =) How is investing going?

[@yamipupu]

This is one of the best episodes. So realistic and relatable...single parent, broke. More like this please!

[@DionTalkFinancialFreedom]

Thanks. Hope the info helps you. 😀

[@hammerradiology1470]

I love how David is keeping quiet, just listening and whenever he speaks it's to the point and very valuable.

[@prayersoulstar]

i noticed this too...brilliant.

[@jaredrice4612]

Former marine here too. I read rich dad poor dad on gate duty in iraq and it changed my mindset as well.

[@DionTalkFinancialFreedom]

Awesome. =)

[@freedomworks3976]

Thank you for your service 🙏 ❤

[@AllowCommentsPlease]

His parenting hack is no joke, I haven’t missed one of my father’s “Dion Talks” and I still get stoked when a new one comes out. Thank you for being an outstanding father and an amazing financial and real estate mentor. I’m proud of you and can’t believe I’ve been lucky enough to be your son!

[@coulsonthomas1771]

No lie...your dad's strategy is the exact strategy I want to do. Really into buy and hold and focusing on income. One of my favorite episodes.

[@brykit1972]

This is so touching!

[@TaitanoB]

Amazing amazing episode!! I’m really inspired by your dad’s story and real estate journey. I’m in the beginning stages of my real estate investment journey and I’m even more excited/ determine after listening to this episode. By the way, I think we have met before. I’m in the Tacoma area as well and when through CDS Lakewood branch 2019.

[@DionTalkFinancialFreedom]

Shhhhhhhh lol. Nothing to be seen here

[@480brad]

Bring this guy on again and let's see where he is at in 2022.

[@johngerring2505]

I was told by the first Loan Officer I talked to that a Duplex had to be an investment property and that I had to put 25 percent down whether I lived there or not. Probably one of the hardest parts is wading through bad information. Thankful for Bigger Pockets.

[@DionTalkFinancialFreedom]

Definitely shop for lenders. They are not all made the same.

[@jean-thierryaleman3895]

Loved when he said "I'm a filter from what I heard on your guy's show." I so do that when giving information and I almost always give Biggerpockets credit.

[@DionTalkFinancialFreedom]

Awesome. 😀

[@OneRentalataTime]

Dion congrats on your success!!! Glad you enjoyed our story of going from nothing to financial independence!!! BiggerPockets was a key way back when we started. I believe my recorded session from First event in Denver is still available all these years late. Full Time employees you got this. Do the work and get a little better everyday

[@DionTalkFinancialFreedom]

Thanks. I can’t wait until your on this show again.

[@menardtexsampson3745]

So true

[@PS-yf4bj]

I'm going to listen to this one again. I enjoyed this session and love listening to Bigger Pockets. I am looking to buy my rental in a month. I'm try to learn sooooo much right now. Ty

[@DionTalkFinancialFreedom]

It’s a lot to learn but worth it.

[@MrHeavy466]

Good luck brother, in the process of my first right now.

[@GRUBB-MUDD]

I love how Deon really breaks it down to understand

[@brykit1972]

So many things I could comment here, so I'll just pick one. I also was inspired by Joe Azamoah's interview and his focus on Section 8 housing. I'm will be favoring Section 8 tenants for my first deal. I had such FUN watching this! I laughed several times and the financial wisdom, regardless of how many times it's been filtered!, resonates deeply with me Thank you, Dion, Brandon, and David.

[@DionTalkFinancialFreedom]

Thank you so much.

[@amafid]

Dion wasn’t just pitching a no hitter. He was pitching a PERFECT GAME. And he gave up the Michael GRUBER at 28:40 😂. Dion, Mike and Matt are the best.

[@PaulCurleyBC]

"Income Snowball" - Love it.

[@TheDreamMaker100]

I love Deion's HELPING mindset. Great interview (!)

[@DionTalkFinancialFreedom]

Thanks. 😀

[@Pheseg]

This was an awesome podcast, I’m about to replay it.

[@terryward1374]

Hey Dion, thanks for being a real human being; having life knock you around a few times and then learning the rules of the game and playing it in a way where "normal" guys/gals could duplicate. I really appreciate the genuineness in you sharing your story and reminding me that I can too achieve freedom without having to do all of these things (creative financing, driving for dollars, wholesaling) just to get my feet wet in the real estate game. I have a house hack that I purchased almost 2 years ago, along with a beater property in Detroit that I acquired this past April. Watching all of these podcasts with guys who are buying these unbelievable deals with NO MONEY DOWN, leaves a guy like myself feeling like I'm not doing enough to secure my future. Listening to this has been a good reminder that there are still opportunities for regular 9-5ers to achieve freedom REALISTICALLY! Thanks again Dion and #BiggerPockets for this guiding light! Greatly Appreciated!

[@DionTalkFinancialFreedom]

Thank you. =)

[@Lik3ToSing]

David is such a brilliant knowledgable mentor

[@markbaker311]

Man I'm so glad y'all got Dion on the show. I've seen him share his story multiple times in various Facebook groups and it's so inspiring to me.

[@DionTalkFinancialFreedom]

Thanks. I’m glad they had me on too

[@kerplop2263]

instead of calling myself lazy, I call myself depressed. the end effects are quite similar.... yet I continue to work towards the end goal.... somehow habitually putting one foot in front of the other.... no matter how small the steps

[@Jaygoesin]

This one was a huge hit! He also mentioned some of the home runs of the podcast as well which dropped incredible gems. Just got out of Attorney review on my first 2 units in central NJ & looking forward to learning as I work on heavily impacting my family tree/legacy (at 28 it still feels as if I am late to the game)

[@DionTalkFinancialFreedom]

Awesome

[@rentospropertymanagementso4895]

Savings can save lives and also provide us a great career as well. Thank you for the very helpful video shared.

[@DionTalkFinancialFreedom]

Thanks

[@daveypy]

Just finished the "Vaccuum the Truck" episode yesterday. This episode is so complimentary.

[@DionTalkFinancialFreedom]

Thank you. 😀

[@lynseylou9669]

That vacuum the truck episode with Bryce is amazing! One of my top 3!

[@bd040]

I was listening to the intro of Dion, and I'm telling myself, I've heard this story before. Then it hit me, I read his story when he posted on biggerpockets FB. Happy that he's on the OG podcast!

[@DionTalkFinancialFreedom]

Thanks. 😀

[@johnnywells6936]

So far this has probably been my favorite episode...I'm a newbie, working on buying my first rental property and have the same fatal flaw : admittedly lazier than I should be!

[@dianaaraujo6739]

This video is life changing! Just got pre approve for $200,000.00 to buy my first multi family property, can wait to put in play everything I learn so far in bigger pocket!

[@chloebleak]

What market are you in? I can’t even get a condo for 230k in my home market

[@chloebleak]

Also congrats!!

[@aaronkronawetter6169]

wow I just started watching his youtube channel a couple of months ago because he seemed so relatable. Awesome interview.

[@DionTalkFinancialFreedom]

Thanks. 😀

[@digwealth740]

He is so humble.

[@digwealth740]

This man is Awesome. I'm a Marine! Semper Fi! Thank you so much.

[@user-ov4ty4nz4z]

I'm a year late watching this video but is definitely in my top 5 of all the videos watched on bigger pocket. Why? Because it is real, no fluff, no fairy tale, just a regular dude. Damn, I wish I saw this a year ago😭

[@humblebee7979]

This is an excellent video. For a lot people who are "waiting" to start investing because they don't have the money, Dion painted a very realistic picture of how it's possible. I'm ready to jump in! :)

[@CafeLu]

This episode is the first episode that made feel like investing in real estate could be a real possibility to me in a way that feels grounded and practical.

[@sharlinehill509]

You're so awesome thanks for all the information i appreciate you guys.

[@tiad.9142]

Come in now!!!! This is my second time watching this!!!! Got my real estate agent and I’m starting this process!!! My mind gets so bogged down but to think 1 property a year is very simple

[@rayzhao8004]

first time seeing David's face in person after listening to dozens of podcasts in the car. his voice sounds like a young professional in his late 20s/early 30s who always wears a suit. always makes on point, productive comments about everything. was not expecting him to be bald and aging! really great comments on every podcast as always

[@surfmarko]

Dion seems very humble and Thankful. I love this guy1

[@DionTalkFinancialFreedom]

Thank you. =)

[@Blueprintforauthors]

He is speaking my language!!! I’m the K.I.S.S Queen and love his method of investing I will be rewatching to take notes!

[@DionTalkFinancialFreedom]

Awesome

[@aarongillette4420]

Thank you for your service! Keep up the great work and providing solutions to other problems

[@DionTalkFinancialFreedom]

Thanks. Glad someone liked it. =)

[@aarongillette4420]

I’m in the same boat as you to an extent. Also serving and buying property but it’s slow momentum with working full time. So I’ve gone and found creative ways to finance and close deals but within my numbers I can afford to pay for work to be done and still have next to no money in some deals or on average 12% “down”

[@dannyd5496]

So proud for you! And so happy you're sharing! My son and I are investigating together & we both have a bad case of lazy, but we're making a little money & studying from you guys! Keep up the great work!

[@DionTalkFinancialFreedom]

Awesome

[@ericsiel1480]

I trying to get started myself. Screwed around in my 20’s, and have now paid my wife’s way thru nursing school. It’s been tough but now that she is working I’m saving about 3k a month in Spokane wa. Been looking for a rental to buy but the market is seriously crazy here right now and I don’t have a ton of cash to do a bunch of fixes. Not sure what the next step is. I’m looking for houses but every offer I have made has been rejected. Lol

[@DionTalkFinancialFreedom]

Keep hunting. It’s all about timing. Work on saving. Keep improving credit. Keep looking at deals. Something will pop up.

[@joshualand2053]

20 denied and 1 yes to the perfect place is all you need. It will work but patience is key

[@alenaduberealtor9508]

Great interview! Love Dion's mindset and his passion of helping people! Givers = Receivers. Thank you.

[@DionTalkFinancialFreedom]

Thank you. =)

[@accrualworld318]

LOVE LOVE LOVE this episode! My favorite! 👍🏾

[@DionTalkFinancialFreedom]

That’s awesome. Thank you.

[@samanthajwright4839]

Favorite episode thus far. Nice to hear from a fellow vet.

[@DionTalkFinancialFreedom]

Thank you for your service. And the compliment. Hope the info is helpful.

[@ikool4ud]

Pooler GA here.

[@isabellelabbe8195]

This is so motivating esp. for those getting started! Thank you for bringing him on to share his story!! 🙌🏽🙏🏽

[@DionTalkFinancialFreedom]

Thanks I hope you found it useful

[@byronrogers4489]

And theyre really having fun too!!

[@menardtexsampson3745]

Hopefully you are not just getting motivated you will get to action LOL

[@isabellelabbe8195]

@@DionTalkFinancialFreedom Yes, thank you! I did!

[@reyzguzman]

SEMPER FI !!! Nuggets after Nuggets especially the binder to raise rent. Sales 101 let the client make the decision. Thank you for this because im new to real estate investing.

[@AngelaJossy]

Holla from Tacoma WA!! We scare people away on purpose. The motto is "Keep Tacoma Feared"

[@StephanieLynn-ur9xg]

Great episode, thanks Dion!

[@chrisnguyen3708]

Wow Dion what a powerful episode!

[@DionTalkFinancialFreedom]

Thank you. 😀

[@LaRhondaTurner]

great episode!!! I just subscribed to Dion's channel.

[@DionTalkFinancialFreedom]

Thank you so much. 😀

[@lynseylou9669]

So did I!

[@Sergio-gm4gv]

Awesome video, it has to be a one of your classics.

[@3sixD]

The requesting rent increase was gold. Thank you 👌

[@WealthyFirefighter]

What a great episode and very relatable!

[@DionTalkFinancialFreedom]

Thanks 😀

[@gregcastagneri25]

Love this guy great video! I learned a lot

[@jasonadkins1455]

I love this guys story.

[@DionTalkFinancialFreedom]

Thanks. Wasn’t easy to think “let me share a bunch of mistakes online” lol

[@loganroca]

Great interview !! And yeah probably the biggest show you’ve ever done

[@johnhill5184]

My favorite show yet !!!! Keep it up guys

[@johnburgess304]

WOW. I'm learning a lot from these videos. Thank you so much

[@DionTalkFinancialFreedom]

You and me both. These guys know their stuff.

[@successwithstacee9290]

Wow this episode is so helpful. I realize I need to step up my negotiating skills. I didn't realize the lenders can negotiate the rate and fees by getting more lender quotes.

[@kerryannfullerrainey-clear2868]

Dion, great discussion!! Thank you so much!

[@sdstig]

This was fantastic! I’m looking to get started in real estate myself and this was pretty much exactly what I was looking for after some time already listening and learning. Dion is a great guest and I have a very similar plan to what he has done.

[@DionTalkFinancialFreedom]

Perfect. I hope it was helpful.

[@sdstig]

@@DionTalkFinancialFreedom Definitely did. Already listened to it twice and subscribed to your channel. Keep up the good work!

[@filippjovanov6196]

THANK YOU THANK YOU THANK YOU!!!!

[@DionTalkFinancialFreedom]

Thank you 😀

[@scottmiranda7254]

This was the best show I have ever watched at BP. Dion is so relatable and he motivated me more to get started in real estate investment. I just need to do it but I keep saying not now for some reason. Now is the time!

[@joecastaneda81]

I'm ready but I wish I saw this when it came out. When intereste rates was 2.5%. Now it's 5%, that and low supply are big challenges I face.

[@illmatic4]

Bid for my first investment property accepted. Officially under contract and waiting to close. Excited and scared out of my mind. Listening to BiggerPockets helps lower my anxiety. 😂

[@sophia4christ]

I love this! The income snowball. ❤👍🏽💯❤🇯🇲😁

[@ethanmaaske6191]

Damn dude, dropping some killer info

[@DionTalkFinancialFreedom]

Thank you so much. 😀

[@KevinJ-o9c]

This sounds good. Frankly this is an awesome episode. However, what I have noticed is that most of these people on this podcast, including David and Bryan, got into the market when the timing was right! In this current climate, it is extremely hard to put offers in when your being out bidded left and right. Especially, if you're an FHA buyer, lol. Competing with folks who have 1) all cash 2) putting in all cash offers with no inspection 3) willing to overpay by 20-70k over asking price,lol 4) 20% down offers......is really hard for a lot of "lower income" FHA candidates. I have 50k saved up and want to get into a 2-4 unit but it does not work here in Los Angeles. Sounds good to "keep trying", but remember after 90 days you have to do another pre-approval, that effects credit. Another thing, is that, if one is in a tenant friendly state, such as California, it is really risky to purchase property when tenants 1) have no job 2) laws against evicting them, leaving a potential landlord in "forbearance". Long story short, I love and admire the message in all of your videos; however, this is extremely hard in markets like Los Angeles,CA. Cash flow? Ha! That's a joke here, in today's climate. Yes, having tenants will help offset your living expenses, however, what happens when the tenant moves, or decides he/she doesn't want to pay? It cost a couple grand to evict a tenant in LA County, and it may take 9 months, lol. Yes, having 6-12 months cushion is nice, in case that happens but how long does it take to save that on top of saving for the "3.5-5%", down payment. Furthermore, worst case scenario, if a tenant doesn't pay or leaves, how long will it take to replenish those reserves, if the property already didn't cash flow? LOL. What I'm saying is let's be real guys! I feel BP message is good, and I love the thought process, but this is "there" business, and it's to sell to people that anyone, can be a successful REI. This isn't always the case. Market, Climate, and Timing. All of which aren't in the green right now, and will most likely be worst.

[@Coreyb55]

Gotta look out side of where you currently live maybe, be able to have some flexibility & not be so set on just L.A. regardless of where you are it’s possible to make it happen. Just easier in other locations

[@ipeteagles]

that famous 4 jingle was lovely

[@DionTalkFinancialFreedom]

Haha. I want to hear David Greene do it in a Batman voice.

[@varkeyabraham]

Dion Mcneeley has been very inspirational. I ordered his recommended book "One Rental Property at a time" and read it completely today. I believe in getting educated and take action. Thank you!!!

[@DionTalkFinancialFreedom]

Awesome. Thanks. I just did an interview with him too. Will post soon. I’d love to see him on this podcast.

[@VictoryStarr]

This was so helpful I wanted to hit the “like” button several times!

[@DionTalkFinancialFreedom]

Awesome. =)

[@oliferous]

I THOUGHT that was a Forgotten Realms map!! Saw Silverymoon and the Spine of the World and that solidified it!! LOVE IT!! Also, great interview with a TON of solid advice/info. Thanks you guys, subbing for sure!!

[@whoknew5940]

His targeted investments are true gems!! Man, it's nice to see a fellow lazy person make it work. This man is brilliant! I love this guy!!

[@jessescott3558]

Dion is excellent

[@stephencamacho]

Love this episode!!

[@DionTalkFinancialFreedom]

Thank you so much 😀

[@checkingthetoob]

So much gold!!!!

[@hangwithsean]

EDIT: Listened to the full hour and definitely worthwhile - great podcast fellas - super informative! Guys, this is great and all and I was super excited to click because I am super lazy...but can we get a TLDR for the super lazy of us? No? Ok. I will listen to the full hour...

[@DionTalkFinancialFreedom]

One of the reasons i shoot for 10 minute videos. Hopefully you find them useful.

[@hangwithsean]

@@DionTalkFinancialFreedom ill give your videos a watch in the next few days and leave a comment on one of them - definitely interested to hear more of your strategies.

[@SterlingWhiteRealEstate]

Before focus on increasing the spendable money, focus first on increasing the savings rate. This allows income to snowball later.

[@mel35498]

The Binder! Great Idea!

[@jasonpauldegraaf]

Props to the Forgotten Realms poster!

[@littlesunshine2069]

I just subscribed Dion 🤗 Great information. Great and easy to listen to. Great advice. Thank you 😊

[@jpdowdell8114]

Absolutely love this episode

[@DionTalkFinancialFreedom]

Thank you, weird, me too...

[@LifeAs_Kiki]

Okay officially my favorite episode!!!!!!!!!!!! 💙💙💙💙💙

[@DionTalkFinancialFreedom]

You are too awesome. Thank you. 😀

[@aarondallasii9303]

Such a great episode.

[@DionTalkFinancialFreedom]

Thank you so much. 😀

[@angelo-001]

I think Chris Voss deserves some credit during the negotiation talk

[@DionTalkFinancialFreedom]

Agreed.

[@ProbateandTrustHelp]

This was one of the best KZbin videos I’ve watched. I love the tip of the cash for keys scenario. I’d never thought of offering the funds directly to the tenants deposit to their new rental. Brilliant!

[@DionTalkFinancialFreedom]

Thanks. 😀

[@sethschnakenberg3058]

100% relatable. Best episode thus far!

[@peterwey3571]

According to the map behind him, this guy is buying up multifamily in Baldur's Gate.

[@DionTalkFinancialFreedom]

Haha. Or just outside of Waterdeep.

[@brykit1972]

Buy an estate in Skyrim for diversification.

[@jdantigua1999]

If you cannot afford where you live, then you need to move. Financial counseling is what 80% of our American citizens need. Yes, people live month to month and must stop doing so.

[@DionTalkFinancialFreedom]

Well said.

[@nicholaspritzl1238]

I'm definitely going to need to listen to this one again. Incredible episode!

[@KidCity1985]

Thanks Dion, great video.

[@DionTalkFinancialFreedom]

Thank you. =)

[@Catherinestoring]

This episode is everything. I have shared it three times (even before I finish it)

[@gwendolynnbutler7392]

This was awesome! I’m shopping for my first multi family property as we speak and he shared some gems. THANK YOU! THANK YOU! THANK YOU!

[@DionTalkFinancialFreedom]

Thank you. =)

[@juzefzoozoo]

I love this episode. I am so thankful.

[@kalomirak6910]

Liked the metaphor building a ‘financial six pick’

[@amydurham1150]

My favorite episode thus far. He’s just so relatable. Very encouraging for newbies;)

[@DionTalkFinancialFreedom]

Thank you so much. Please keep me in mind for questions.

[@libyneal5995]

This was amazing. The way he explained his pandemic proof portfolio was so easy to understand and really helpful to someone like me, who is gearing up to start investing!

[@antonio-demetrius3744]

Now this One was another Banger

[@Defeat_Doubt]

60 min listening to you guys is life changing. 🤘

[@DionTalkFinancialFreedom]

Totally agree. =)

[@DD-tq4wd]

I absolutely loved this interview. It got me very excited to just make a move toward my goals. I would love to connect with Dion in the future. Thank you for the great interview David, Brandon, and Dion.

[@DionTalkFinancialFreedom]

I would love to connect. Hopefully I can help.