Personal finance is what most twenty-something-year-olds overlook. Why invest, save, or cut back spending when you finally have the money that a college degree or diploma promised you? For those who have just started working, spending all your hard-earned money on a bigger apartment, a nicer car, or a luxurious trip can be enticing. But, you could also be using your paychecks to multiply your wealth, set yourself up for financial freedom, and lock in early retirement while most are focused on barely paying their bills.

This personal finance-first attitude is what Malia Gudenkauf adopted early on. After attending basic personal finance classes, she realized the disservice many young people did to themselves. So, Malia started developing financial literacy skills, from focusing on becoming debt-free to later investing in passive income streams like real estate. Thankfully, her sister, Grace (episode linked below!), was just starting as a landlord and needed a partner she later found in Malia.

In this episode, Malia details everything you want to know to get your finances in order, how to avoid getting caught in analysis paralysis, reverse engineering your income goals when buying a rental property, and advice on how and who to form partnerships with. Whether in high school, college, the working world, or close to traditional retirement age, the advice Malia gives is crucial if you want to start your real estate investing journey.

00:00 Intro
05:17 The Investing Siblings!
09:03 Getting Started in Real Estate
12:27 Malia's Portfolio
12:52 Reverse Engineering Real Estate
19:39 Real Estate Partnerships
27:57 Why Invest in Other Assets?
31:34 What Every 20-Year Old Needs to Know
35:11 Rookie Deal Review
37:06 Getting Past Analysis Paralysis
38:54 Rookie Exam
42:13 Rookie Rockstar
43:30 Connect with Malia!

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Join the Real Estate Rookie Facebook Group:
  / realestaterookie  
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Find an Investor-Friendly Agent in Your Area:
https://www.biggerpockets.com/agent/m...
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Order Ashley’s New Book, “Real Estate Rookie”:
https://store.biggerpockets.com/produ...
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Grab “Retire Early with Real Estate” by Chad Carson:
https://store.biggerpockets.com/produ...
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Learn More About Personal Finance with the “BiggerPockets Money” Podcast:
https://www.biggerpockets.com/podcast...
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Past Episodes Mentioned in Today’s Show:
Grace Gudenkauf: https://www.biggerpockets.com/blog/ro...
Jessie Dillon: https://www.biggerpockets.com/blog/ro...
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Connect with Malia:
BiggerPockets: https://www.biggerpockets.com/users/m...
Instagram: @littlemissfinance or   / littlemissfinance  
TikTok: @littlemissfinance or   / littlemissfinance  
Website: https://thelittlemissfinance.com/work...
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/e...
Tony: https://www.biggerpockets.com/users/t...

Episode #253

Show notes at: https://www.biggerpockets.com/blog/ro...