Episode #245

If you make the right money moves, financial freedom is only a few years away. You can’t spend your entire paycheck on travel, trips, high rent, or entertainment if you want to retire early and have true time freedom. Matt Amabile realized this earlier than most. At twenty-two years old, Matt wasn’t making much at his job, and living in an expensive area didn’t help. His goal was simple: live for free so he could pocket most of his take-home pay. What happened was even better than he would have expected.

With one property purchase, Matt eliminated his rent expense and created a $1,600-a-month passive income stream. This first venture into real estate was challenging, to say the least. From shady contractors to fist fights in a four-unit, a renovation timeline that went much longer than expected, and lockdowns making even simple tasks impossible, Matt hoped the reward was worth the risk on his first property. Spoiler alert: it definitely was.

Now, financially free at twenty-six, Matt works when he wants, where he wants, making $6,000 per month in passive income. He did all this in just four years, starting with $10,000, making a median salary. If Matt can do it, with zero experience in real estate investing, what’s stopping you from doing the same?

Show Notes at:
https://www.biggerpockets.com/blog/money-245?utm_source=youtube&utm_medium=description&utm_campaign=none
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The House Hacking Strategy: https://store.biggerpockets.com/products/the-house-hacking-strategy?utm_source=owned_media
Rental Property Investing: https://store.biggerpockets.com/products/rental-property-investing?utm_source=owned_media
Rich Dad Poor Dad: https://store.biggerpockets.com/products/rich-dad-poor-dad?utm_source=youtube&utm_medium=description&utm_campaign=none
Set for Life: https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media
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Instagram: @mattamabile or https://www.instagram.com/mattamabile/
Podcast: https://podcasts.apple.com/us/podcast/financial-freedom-fast/id1660643599
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00:00 Intro

00:42 Money Moment

01:06 $6K/Month Passive Income at 26

07:22 Home Run House Hack

14:39 The 203(k) Loan Cheat Code

21:00 Lockdowns and Lengthy Renovations

33:28 Final Numbers on The 4-Unit

37:34 What it Takes to Reach Financial Freedom

40:17 Connect with Matt!

40:53 Don't Hate on House Hacks!