4 Ways to Make Passive Income from Real Estate (Don’t Quit Your 9-5!) w/Devon Kennard

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 11 October 2024

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real estate investing is one of the best vehicles for building wealth, reaching financial independence, and saving for retirement, but you don’t need to become a full-time investor to reap the benefits. If you have no plans to leave your W2 job or manage rentals, there are several ways to use real estate for passive income! Welcome back to the BiggerPockets Money podcast! When Devon Kennard entered the NFL, he ran into more money than he had ever made. But with no guarantee of a pay raise or second contract, Devon forewent the flashy car and multi-million-dollar home and started saving and investing instead. Shortly after buying his first rental property, Devon realized that he was going to need passive or semi-passive income streams if he wanted to have success on the football field. He landed on four different types of passive investments that have helped him scale his portfolio to twenty-nine doors and over forty syndications! In this episode, Devon talks about the importance of increasing your income in your working years and why small wins make all the difference early on in your investing journey. You’ll also learn about the dangers of “shady” real estate syndications and how to properly vet an operator, as well as the differences between fast and slow money! In This Episode We Cover How Devon scaled his real estate portfolio while playing in the NFL Four passive real estate investing strategies you can use today Speeding up your financial independence timeline with real estate side hustles Fast money versus slow money (and which bucket you should be filling) The pros and cons of syndications and how to weed out “shady” operators And So Much More! Links from the Show Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Join BiggerPockets for FREE Email Mindy: [email protected] Email Scott: [email protected] BiggerPockets Money Facebook Group Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate Buy Devon’s New Book “Real Estate Side Hustle” Property Manager Finder How to Make Truly Passive Income with “Syndication” Real Estate Connect with Devon (00:00) Intro (07:56) Saving $1M in 3 Years! (15:37) Making “Small” Bets (21:08) Passive Real Estate 101 (31:59) Devon’s Portfolio & Strategy (39:17) “Shady” Syndications (45:56) Commercial Investing (47:08) Devon’s New Book! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-571 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	One of the ways to speed up your financial independence timeline is to earn more money.
0:06.0	This is where side hustles enter the chat.
0:09.0	Finding the right side hustle for you could supercharge your investments.
0:13.5	Today we're bringing on Devon Canard to talk about four passive real estate investing strategies
0:19.3	you could be using today to replace your W2.
0:23.2	Hello, hello, and welcome to the BiggerPockets Money Podcast.
0:26.2	My name is Mindy Jensen, and with me as always is my non-NFL player co-host, Scott Trench.
0:32.0	Jee, that was a real kicker of an intro.
0:35.0	Mughapokets has a goal of creating 1 million millionaires.
0:38.0	You're in the right place if you want to get to your financial house in order because we truly believe financial
0:42.0	freedom is attainable for
0:42.9	everyone no matter when or where you're starting or how bad your fill position is.
0:47.2	We're so excited to talk to Devon Canard today. Devon Canard, for those who don't
0:51.2	know, is a veteran NFL linebacker, played nine, ten years in the NFL.
0:57.0	Absolute Superstar, played for the Giants, played for the Lions, played for, I believe, the Cardinals at one point as well.
1:05.0	Just awesome career.
1:07.0	Made a large amount of money but signed a relatively normal rookie contract
1:11.0	and started his career without certainty around that.
1:14.3	Made a large number of great decisions and became a really strong real estate investor
1:19.5	with a lot of deep expertise that he's developed. We're super proud to be publishing our latest book in partnership with
1:25.8	Devon Canard. It's called Real Estate Side Hustle for passive investing strategies to build wealth
1:31.1	beyond your day job and we're going to talk about those
	...

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