Loading Episode...
Road to Family Freedom - Neil and Brittany Henderson EPISODE 34, 29th January 2020
Live-In Flips and 1500 Days to Financial Freedom with Mindy and Carl Jensen
00:00:00 01:07:35

Live-In Flips and 1500 Days to Financial Freedom with Mindy and Carl Jensen

Carl Jensen – Creator of the blog 1500Days.com and Mindy Jensen – Co-Host of Bigger Pockets Money podcast talk to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Find out how Carl and Mindy Jensen created financial freedom before the age of 50, making changes in their lives to engineer that freedom, and their experiences of living in the properties that they sell.


Post-Interview Analysis 

  • Key Lessons Learned: Look at what you are buying and plan it out towards your end goal and work backwards. Always have multiple exit strategies. Talk with your significant others about your goals.
  • How did they acquire their knowledge or what knowledge did they need to acquire? They did research, read books, watched YouTube videos, and learned by doing.
  • How much money did it take to get started? They went in with a traditional mortgage but they didn’t get into the specifics of it.
  • How much time does it take now? They appear to be working full-time. Mindy is a real estate agent and she works for Bigger Pockets. Carl is working on the flips and they own a co-working space. It is what they love so it doesn’t totally feel like work.
  • Could they do this strategy from anywhere in the world? Theoretically, it would be hard to do their strategy from anywhere in the world.

Episode Highlights:

  • Schedule a video chat with Neil Henderson at roadtofamilyfreedom.com/connect
  • What was it like when Carl told Mindy he wanted to retire in 1500 days? 
  • How was Carl introduced to the idea of early retirement? 
  • Communication and conversation are key when letting your partner know you want a career change.  
  • What was it like moving to the same town as the home of the Mr. Money Mustache financial freedom blog?    
  • Why did Carl decide to invest in individual real estate deals instead of individual stocks?
  • What does ‘live and flip’ look like? 
  • They have been living in their properties instead of trying to flip right away. 
  • Their holding costs are paying down their mortgage, building equity, and taking a tax deduction if they itemize their mortgage interest. 
  • Are they using traditional bank financing to purchase their property? 
  • They are going to try AirBnB vacation short-term rentals.    
  • What do they do to maximize their homes for sale? 
  • A clean house is going to show to buyers better than a cluttered house. 
  • A good person can make a bad deal good. 
  • When you do what you are passionate about you tend to do a great job at it and people then tend to want to pay for you it. 

 

Books and Resources Mentioned:

Mindy Jensen’s Email: mindy@biggerpockets.com