Today we welcome Scott Trench, VP of Operations at BiggerPockets.com. Scott is also a licensed real estate broker/agent, real estate investor managing 8 units in Denver, CO with a partner, a house-hacker, and personal finance nerd. His book, Set for Life thoroughly details a step-by-step journey to early financial freedom for full-time workers earning median incomes and starting with little or negative net worth. Scott is passionate about financial education and believe that financial literacy allows for empowerment in today’s society.
His writing and economic analyses have been featured in TIME Magazine, CNBC, Forbes, and Realtor Magazine, as well as regional publications like the Denver Post and Tampa Bay Times. Scott has lectured at the University of Colorado and has produced dozens of video/podcast segments explaining intricate real estate concepts to new investors. In this episode Scott dissects his journey to early financial freedom and how he has been able to become successful in doing so. We also talk about his book, Set for Life.
Key Points From This Episode:
- Find out what led Scott to following the philosophy of financial freedom.
- How Scott turned his frustration into action.
- Hear how Scott used networking and brand knowledge to get his job at Bigger Pockets.
- Discover why Scott doesn’t consider himself as an entrepreneur but as an employee.
- Three ways to becoming financially free at an early stage in life.
- Learn how Scott got the money to buy his second property.
- Getting rid of your PMI by having equity in your property.
- Understand how Scott has found meaning in the work he now does.
- Continuing to solidify your financial position perpetually with passive income and wealth.
- How opportunities begin presenting themselves as you accumulate income and wealth.
- Scott tells us more about his role at Bigger Pockets.
- Why real estate is considered to be the best way to build passive cashflow.
- Listen as Scott explains the inception of his book, Set For Life.
- Hear how Scott’s book will encourage you to make changes in all aspects of your life.
- Scott’s ways of marketing his book for it to reach the right readers.
- Defining risk and lowering risk by lowering your expenses.
- Hear what sacrifices Scott had to make in order to get to where he is today.
- And much more!
Links Mentioned in Today’s Episode:
Scott Trench — https://www.biggerpockets.com/
Scott’s book, Set For Life — https://www.amazon.com/Set-Life-Dominate-American-Dream/dp/0997584718/
Mr. Money Mustache — https://www.mrmoneymustache.com/
Early Retirement Extreme — http://earlyretirementextreme.com/
Radical Personal Finance — https://radicalpersonalfinance.com/
Thomas J. Stanley’s book, The Millionaire Next Door — https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474/
Thomas J. Stanley’s book, The Millionaire Mind — https://www.amazon.com/Millionaire-Mind-Thomas-J-Stanley/dp/0740718584/