Making your RENT pay YOU with Ankur Jain

Networth and Chill with Your Rich BFF

Vivian Tu

News, Business, Careers, Business News, Entrepreneurship

4.4 • 1.6K Ratings

🗓️ 21 June 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week's episode of Networth and Chill, I'm sitting down Ankur Jain, the founder and CEO of Bilt Rewards. These days a huge portion of the population are renting their homes. And while paying a mortgage every month has plenty of financial benefits, paying rent does nothing to improve your credit score or invest in your future. Ankur wanted to change that, and as a result, founded Bilt Rewards. I'm asking Ankur all about how he got started, what went into founding his business, and how Bilt is helping its users invest in their future. Plus we discuss all things renting, and why the rent vs buy argument if full of nuance.

Got a financial question you want answered on a future episode? Text me or leave me a voicemail at 908-858-3410.

Special thanks to our sponsors:
BetterHelp: This episode is sponsored by BetterHelp. Get 10% off your first month of online therapy by using my link.
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Transcript

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0:00.0	What's up rich friends, welcome back to another episode of net worth and chill with me,
0:10.8	your host Vivian2, aka your rich BFF, and your favorite Wall Street Curly.
0:15.3	It's summer and that time again, and by that time, I mean, everybody's leases are up,
0:21.0	and maybe you're thinking about sticking it out in your apartment, or maybe you got
0:24.6	your eye on a shiny new place, a couple blocks away, or maybe you're planning a cross-country
0:29.5	move. But if you're a renter, you're thinking about how much you're spending and what you're
0:33.4	getting for it. And I've got good news and bad news. Bad news, it's no surprise that the average
0:38.8	American tenant is rent burdened. So what does that mean? That means that the average American
0:43.2	renter is now paying more than 30% their income on housing, as wages have failed to keep up with
0:48.3	rent hikes and affordable units are hard to come by. Good news, however, rent prices are falling
0:53.0	in nearly every major city, especially major metro areas on the eastern west coast.
0:58.6	According to apartment list, rents in Boston fell 6% while rents in Las Vegas and Los Angeles
1:04.2	dropped by roughly 5%. But whether or not rents in your area have been on the decline,
1:09.8	very few of us are happy to throw money into a pit every single month. But what if I told you there
1:14.1	was a way to get your rent to pay you? Today, we're going to cover the good, the bad, and the ugly
1:19.3	on renting and how to get more out of your money just by paying your rent on time. Everyone,
1:23.9	please welcome Encore Jane, the founder and CEO of Built Rewards, the first loyalty program that
1:29.0	allows renters to earn points on rent. Hello, I love it. Hey, thank you so much for being on the show.
1:34.6	I'm so happy to see you again. And to start the show off, really fun. Encore, can you tell us the
1:38.6	biggest renting horror story that either you personally experienced or heard from a friend?
1:44.6	I gotta tell you, my fiance might have the scariest. So my fiance is a small town girl
1:51.5	away from Waco, Texas, which is like, you know, either know it for HGTV, Chip and Joanna Gaines,
	...

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