Master Passive Income w/ Dustin Heiner

Overview

Derek sits down with investor and podcaster Dustin Heiner to unpack how he went from a government IT job to becoming "successfully unemployed." Dustin shares the layoff story that sparked his pivot, why he invests strictly for monthly cash flow (not appreciation), and his "build the business first, then buy inventory" framework. They dive into systems, out-of-state teams, market cycles (including the short-term rental glut), and creative deals—plus Derek's zero-interest win and a live subject-to opportunity that emerged from a tenant call. 

Key Takeaways

• Cash flow over appreciation: Buy assets that pay you every month in all market cycles. 

• Build the business first: Line up property managers, vendors, and processes before buying a property ("inventory"). 

• Systems win: Clear policies (rent due, late fees, notices, evictions) let teams run the portfolio without you. 

• Out-of-state is doable: Vet teams first; if a PM won't manage a property, don't buy it.

• Creative financing is booming: Subject-to/seller-finance terms can turn "full retail" into a cash-flowing win. 

• STR caution: Oversupply and regulation are squeezing many short-term rentals—watch for opportunities. 

Relevant Topics Discussed

Real estate cash flow, becoming "successfully unemployed," out-of-state teams, systems & KPIs (the simple way), market cycles (2008 lessons), STR oversupply, raising capital, subject-to & seller financing, lease-options, negotiation to solve seller pain, building generational wealth. 

Timestamps

• 00:00 – Derek intro, mission, how listeners can get help with deals. 

• 01:05 – Meet Dustin: real estate investor; "successfully unemployed." 

• 04:15 – The layoff story that changed everything; decision to become an investor. 

• 09:30 – Why cash flow beat 2008; make money up, down, or sideways. 

• 12:00 – Passive vs active income; four-hour month mindset; Dustin's 17-year-old's first deal. 

• 15:10 – Framework: build the business, then buy inventory; systems & eviction policy. 

• 18:50 – Out-of-state setup; the "wrong way" vs "right way". 

• 22:40 – Guru era lessons; don't invest for appreciation. 

• 24:30 – Books & KPIs made simple; expense line for cash flow; candy-bar analogy. 

• 28:30 – Market cycle talk; STR oversupply (Airbnb); access to capital; big multifamily buys. 

• 33:20 – Lambeau Field STR cautionary