[REAL STORIES] Why Being “Debt-Free” Might Be Keeping You Poor

If I told you someone was $1.7 million dollars in debt, you’d probably think: that sounds really bad. But today’s guest is all about leverage — using debt strategically to generate income, build equity, and create optionality. That debt is attached to properties worth roughly $4 million dollars, which make about $50,000 a month and have allowed her and her husband to leave their W2 jobs to stay home full-time with their young daughter. This Week’s Guest: Zoey Berghoff, a short-term rental enthusiast, investor, coach, and speaker with a passion for turning ordinary properties into unforgettable retreats. Zoey shares something that would probably sound terrifying to most people: she’s currently 1.7 million dollars in debt. But that debt is attached to properties worth roughly 4 million dollars — assets being paid down with other people’s money. In fact, today, her portfolio generates around $50,000 a month in revenue. Tune in to learn: –The life-changing magic of a HELOC (home equity line of credit) –How a property earning $24,000 a year as a long-term rental started making $120,000 as a short-term rental –How to think differently about leverage, debt, and building long-term wealth –Why certain real estate principles are timeless Key links: –Second Home First Academy: https://www.BuyYourSecondHomeFirst.com/academy *Use code PODCAST for 40% off –Subscribe to the free weekly newsletter: BuyYourSecondHomeFirst.com/#subscribe –Visit the website: https://www.BuyYourSecondHomeFirst.com –Follow on Instagram and TikTok: @BuyYourSecondHomeFirst –Find us on Substack: https://www.SecondHomeFirst.Substack.com –Say Hi! [email protected] A Special Thank You To Our Sponsors: Lodgify: https://lodgify.com/?afmc=28y Click the link and enter code HOME20 for an additional 20% off their yearly and bi-yearly plans. Minoan: https://www.Minoan.com/SecondHome Use the link provided to sign up and receive a free $25 in credit. Turno: https://go.turno.com/second_home_first Use the link provided to get $25 off your first clean. Flytographer: https://www.Flytographer.com/SHF Use code SHF25 for $25 off your first shoot PriceLabs: https://hello.pricelabs.co/signup/?referral=secondhomefirst Use code SecondHomeFirst (all one word) for a 30-day free trial, plus $10 off your first invoice