From Fired to FI Couple in 2 Years with Josh and Ali | BP Money 167
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Published 2021-02-01
Most people are told the same thing growing up, “go to college and take out a loan, get a car and take out a loan, live in a nice apartment even if it’s expensive”. This is exactly what Josh and Ali, AKA “The FI Couple”, did in their 20s. They racked up over $100,000 in student loans, had two car payments, and lived in an apartment outside of their means.
Josh grew up without much money, causing him to not have much of a financial foundation when he reached adulthood. Ali grew up middle class, but didn’t have any financially savvy role models to look up to. As they started dating and later got married, they realized that they had to take care of debt soon, or they’d be swallowed whole by it.
Josh stumbled upon a book that changed his financial view forever. A book one of our hosts is VERY familiar with. It was Set for Life, by our very own Scott Trench! After Josh read through it, he knew he had to share the information with Ali, but it took him time to find out her specific “financial language” and the best way for him to get her excited about financial independence.
After they were both on board for FI, house hacking was their next stop. As you’ll hear in the interview, they acquired four units in a short amount of time, paid off a big chunk of their student loans, and now have passive income rolling in, every month. Talk about a rags to riches story!
Check the full show notes here: www.biggerpockets.com/moneyshow167
All Comments (21)
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We had such an absolute blast recording this & sharing our story :)!
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I have a 500k house and in a neighborhood of 500k+ houses and you better believe I drive a 2007 toyota camry. Damn straight. I house hacked to get what I have. Proud of you Josh!
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One day I'll be in this podcast! That is the goal! Getting my finances straight so one day I can share my story with Mindy, Scott and everybody! 💜
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Absolutely love this. I am that spreadsheets, pod cast addict, dreamer that dragged my wife into our first house hack. Great job 👏
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Man Mindy mention would not stop riding Josh about getting fired. Wow she really embarrassed this poor guy.
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Great story! Full speed ahead. Stay focused-Invest on!
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I bought a triplex in Fresno California..as a house hack with VA loan since I'm active duty Navy.
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I was waiting for Joshua to roll up his sleeve to reveal an "I (heart) Scott Trench" tattoo.....lol.
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Josh sounds like me and his wife just like my husband.Well done guys .
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I don't get it. How did they do two house hacks???? What am I missing. With FHA loans you MUST occupy the property.
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Great stuff, and I love their enthusiasm. But if you have two mortgages and only paid 5% or less as a down payment on those homes, you are not in any way "debt-free." It's just not an accurate term.
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Dave Ramsey and some other guru on finance!!! Great line Scott
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Here’s something to etch in stone: “respect your husband, his vision, and his ambition “.
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I like Ali is looking back at the 20 somethings that are starting their real estate investing. I'm 42! I'm looking at Josh and Ali like "GEEZ! Why wasn't I making these decisions back when I was their age!!"
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"Any intelligent fool can make things bigger and more complex... It takes a touch of genius - and a lot of courage to move in the opposite direction." Such a great story taking road less traveled
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Love this story, feel like we can relate in so many ways!!
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Great interview. This is the type of content that should be taught in a high school program, with real life people sharing their road (with the ups and the downs) to their “why”. It should teach all of the different ways to succeed with your finances, not just the traditional buy & hold strategy, as well as how to use debt / credit to your advantage. I wish this information and the content was available (at my fingertips) to my generation when I was becoming an adult.
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Great interview with Josh and Ali. Look forward to hearing about there journey. .
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Fellow SUNY Oneonta alum here!
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Man do I resonate with this lol great episode!!!
