From Bankruptcy & Financial Abuse to $1.4 Million in Assets
Today’s guest, Jennifer Grimson, is a prime example that every problem has a solution. Jennifer has always been a hard worker so she had no problem working through college as she aspired to be a foreign service officer, but her life took a turn when she fell in love and married her (now) ex-husband. Her dynamic with money completely changed as he spent money frivolously while she spent conservatively. When things ended poorly 8 years later he sued her 25 times, not including when he sued her mother and brother, and left her with $500,000 worth of attorney fees.
At this point, she was left with nothing and had two children to raise on her own. While most would be completely devastated, Jennifer focused on finding a way out. Jennifer had never been scared of a little hard work so she found a job with a steady paycheck and filed for bankruptcy to help with her attorney fees. She continued to file for bankruptcy and start from scratch until she could build herself back up financially. She was then able to rebuild her credit through various methods and gain financial autonomy.
Her overall goal was to experience financial peace— but she didn’t stop there. She started building small pockets of wealth and always had at least three streams of income at all times. Once Jennifer found out about short-term rentals, she saw an opportunity and started buying houses to convert into Airbnb properties and turn a profit. After 4 years she created an astounding $1.4 million in income-producing assets!
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7 Tips to Overcome Bankruptcy & Build Lasting Wealth:
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Episode 269
0:00 Intro
4:29 The Beginning of Her Money Journey
12:01 Filing Bankruptcy Multiple Times
19:47 Releasing the Shame of Past Relationships
26:05 Rebuilding Her Credit
35:11 Her Confidence & Motivation to Keep Going
36:40 Using Airbnb to Build Wealth
46:10 Short-Term Rentals, Passive Income & Buying Land
58:19 Future Financial Plans
1:01:51 Working with Partners vs Working Solo
1:12:25 Famous Four
1:19:51 Wrapping Up a Litigation-Filled Story
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