BiggerPockets Money Podcast: Episode Summary

Title: Leaving His Job at 36 to Give Back, NOT Get Rich During FI
Host: Mindy Jensen & Scott Trench
Guest: Ryan Brennan, Founder of the FI Service Corps
Release Date: May 27, 2025

Introduction

In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench welcome Ryan Brennan, the founder of the FI Service Corps. Ryan shares his inspiring journey of leaving a secure W2 job at the age of 36 to pursue financial independence (FI) and dedicate his time to giving back through volunteer work.

Ryan's Daily Life Before FI

Timestamp: [01:21]

Ryan begins by describing a typical Tuesday during his sabbatical:

• Morning Routine: Attended an Orange Theory class at 10:00 AM, emphasizing sustainable exercise habits during manageable hours.
• Afternoon Activities: Focused on managing FI Service Corps through emails, contacting potential volunteer partners, and engaging with the mailing list.
• Personal Time: Spent quality time walking his dog and playing with his cat, maintaining a balanced home life.

Quote:
“Yesterday I did Orange Theory at 10am and then I wrote up a few emails in regards to FI Service Corps.” — Ryan Brennan [01:31]

Ryan's Path to Financial Independence

Timestamp: [02:51]

Ryan recounts his financial journey, which began with a passion for real estate inspired by HGTV shows like "Flip This House" and "Fixer Upper."

• First Investment: Purchased his first property in 2012 at age 25, using his savings for the down payment and closing costs.
• Building Wealth: Over two and a half years, he improved the property, eventually renting it out for profit in 2014, marking his first experience with passive income.
• Expanding Portfolio: Continued investing in real estate while working as an accountant, flipping three houses and acquiring additional rentals.
• Current Holdings: Owns a four-unit multifamily property where he lives in one unit and rents out the other three, effectively covering his mortgage with rental income.

Quote:
“I have built up a financial runway to comfortably step away from my W2 job about a year and a half ago in September 2023 when I was 36.” — Ryan Brennan [02:51]

The House Hack Strategy

Timestamp: [08:08]

Ryan discusses a pivotal moment in his journey—his first live-in flip:

• Investment Details: Bought a three-bedroom townhouse in April 2015 for $255,000, invested $75,000 in renovations, and sold it in November 2017 for $415,000, realizing an $85,000 profit.
• Living Rent-Free: During his ownership, he rented out two rooms and a finished basement, significantly reducing his living expenses.
• Impact on Savings: This strategy allowed him to live almost rent-free, accelerating his savings and investment capabilities.

Quote:
“I basically lived completely free because this was a three-bedroom townhouse and I rented the other two rooms to friends and then it also had a full basement that I finished and turned into a separate apartment.” — Ryan Brennan [08:08]

Financial Portfolio and Real Estate Management

Timestamp: [21:00]

Ryan outlines his diverse financial portfolio:

• Real Estate Assets:
  • Washington D.C. Property: Cash flows approximately $500/month.
  • Salisbury, Maryland Property: Cash flows approximately $500/month.
  • New Haven, Connecticut Multifamily: Potentially cash flows around $3,400/month if fully rented.
• Other Investments:
  • 401K: $250,000
  • Roth IRA: $75,000
  • Taxable Brokerage Account: $120,000
  • Syndications: $150,000 through the Brandon Turner Fund
• Total Net Worth: Approximately $1 million, potentially rising to $1.2-$1.3 million when including primary residence equity.

Quote:
“My net worth is just over a million. I would say it's made up of $250,000 in a 401K, $75,000 in a Roth IRA, about $120,000 in a taxable brokerage, and $150,000 in syndications.” — Ryan Brennan [21:08]

Transition to Sabbatical

Timestamp: [27:26]

Ryan explains the factors leading to his sabbatical:

• Relocation: Moved from Washington D.C. to New Haven, Connecticut in summer 2022 for his wife's nurse practitioner program.
• Job Stress: Promoted to Director of Finance, which increased stress and work commitments.
• Remote Work Challenges: Transitioned to a fully remote role, leading to feelings of isolation and detachment from the new community.
• Financial Confidence: Leveraged his financial runway from real estate investments and brokerage savings to step away from his job.

Quote:
“I felt like I couldn't get out and interact with my community because I was stuck in my house behind screens all day.” — Ryan Brennan [27:26]

Formation of FI Service Corps

Timestamp: [34:32]

Ryan details the creation of FI Service Corps, blending financial independence with volunteerism:

• Inspiration: Attended FI events and noticed the community's emphasis on philanthropy and giving back.
• First Volunteer Trip: Organized a trip in December 2024 with five friends to New Orleans, working with a local Habitat for Humanity-like nonprofit.
• Mission: Enable FI enthusiasts to give back through organized volunteer service trips, fostering community and skill development.
• Future Plans: Expand service trips in conjunction with Camp FI events, creating opportunities for participants to extend their stay and contribute meaningfully.

Quote:
“I decided that, you know, I have the time and the means to put together a volunteer service trip for five friends.” — Ryan Brennan [34:32]

Financial Strategies and Cash Flow Management

Timestamp: [17:03] & [44:16]

Ryan explains his approach to managing his real estate portfolio and cash flow:

• Mortgage Management: Maintains mortgages on all properties without refinancing, allowing rent growth to outpace mortgage payments.
• Cash Flow: Current properties generate:
  • Washington D.C. Property: $500/month
  • Salisbury, Maryland Property: $500/month
  • New Haven, Connecticut Multifamily: Approximately $3,400/month (potentially higher if the owner unit is rented)
• Investment Strategy: Uses rental income to cover mortgages and gradually build equity, ensuring sustainable cash flow.
• Sabbatical Funding: Draws from his taxable brokerage account, supplemented by rental income, while maintaining a minimal cash position.

Quote:
“None of my properties are paid off that I am currently holding onto. They do all have mortgages.” — Ryan Brennan [15:45]
“I've wiped out a lot of my cash position in my taxable brokerage. So basically, like, as needed, I sell investments and then draw from that account.” — Ryan Brennan [44:16]

Future Plans and Financial Independence Status

Timestamp: [45:22]

Ryan reflects on his current FI status and future aspirations:

• Current Status: Identifies as "Coast FI," focusing on designing his best life while continuing to build his financial portfolio.
• Flexibility to Return to Work: Open to returning to employment with flexible schedules and community interaction, leveraging his accounting expertise.
• Wife's Career: Anticipates his wife starting a high-paying nurse practitioner job, further strengthening their financial position.

Quote:
“I would work again, but it would be with an organization that has a flexible schedule, probably something in my community where I can interact with colleagues.” — Ryan Brennan [45:28]
“I think I am coast FI, but it would be, you know, a very, I'd like to continue to build it.” — Ryan Brennan [47:02]

Conclusion and Key Takeaways

Ryan Brennan's story exemplifies the intersection of financial independence and altruism. By strategically investing in real estate, maintaining a diverse financial portfolio, and leveraging his financial stability to take a sabbatical, Ryan not only achieved personal financial freedom but also founded the FI Service Corps to give back to the community. His approach emphasizes sustainable living, strategic investment, and the importance of community engagement.

Final Quote:
“Volunteering can definitely complement your FI journey in lots of different ways... It's just a great way to connect with people.” — Ryan Brennan [49:15]

Resources

• FI Service Corps Website: fiservicecorps.org
• Contact Email: ryan@fiservicecorps.org
• Upcoming Volunteer Trips: Available on the FI Service Corps website

This episode provides valuable insights into achieving financial independence while making a meaningful impact through volunteerism. Ryan Brennan’s journey serves as an inspiring roadmap for those looking to balance financial freedom with giving back to the community.