BiggerPockets Real Estate Podcast

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Latest Episodes:

87: How to Thrive After The Collapse of a Real Estate Empire with Nathan Brooks Sep 11, 2014

Show notes

Failure is no stranger in the real estate industry which is why we are excited to bring Nathan Brooks to The BiggerPockets Podcast today, an investor who knows firsthand that real estate can be tough!

Nathan is an investor (both flips and rentals) from Kansas who went through a very difficult period during the real estate crash, losing all his properties and filing bankruptcy due to a shady partner and jumping in too quickly. Nathan has since emerged as a much stronger real estate investor and carries an incredible story with numerous lessons to share. Get ready to learn how failure can transform your life!

In This Show We Cover:

How Nathan found his first business partner at lunch
Why Nathan bought two houses as a newbie – and lived to regret it
How to find partners through BiggerPockets
The opposite of paralysis by analysis
How Nathan ended up filing bankruptcy
Nathan’s current (more conservative) investing strategy
Dealing with tenants in a $20k property
How to make a unit stand out among the competition
Dealing with “Cat Ladies” and “Hoarder Houses“
How Nathan finds deals
Finding mentors and lenders on Craigslist?
How to find a real estate-minded attorney
And so much more!

Books Mentioned in the Show

The Millionaire Real Estate Investor by Gary Keller
The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone
The Four Hour Workweek by Timothy Ferriss
Unlimited Power : The New Science Of Personal Achievement by Anthony Robbins

Tweetable Topics

Don’t go into business with someone you don’t know. It’s just stupid. (Tweet This!)
The lessons I’ve learned have made me a better investor today. (Tweet This!)
There’s a deal for everyone, but this deal might not be for you. (Tweet This!)
The job of a Real Estate Investor is to solve problems. (Tweet This!)
Know the answers before asking the questions. (Tweet This!)

Connect with Nathan

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86: House Hacking Your Way to 97 Units (While Holding a Full Time Job!) with Cory Binsfield Sep 04, 2014

Show notes

Today on the BiggerPockets Podcast we sit down with Cory Binsfield, a multifamily rental property investor who comes from Duluth, MN.

If you ever feel like you don’t have enough time to invest in real estate, wait until you hear Cory’s story. He currently owns and manages 97 units himself while still working a full time job. Today he teaches us how he does it and also touches on a variety of topics related to getting started, house hacking, investing in a college town, and being a master of creative finance.

This show is packed full of valuable tips so make sure to grab a pen and paper for notes, and let’s get to it!

In This Show We Cover…

Starting out with an investment that makes your wife cry
How to use a VA Loan
CreativeFinance vs. Conventional Finance
The ins and outs of investing in a college town
The SWAT team that descended on Cory’s property
Mistakes, mistakes and more mistakes!
Why partnering may NOT be a good option after all
How to personally manage over 97 units while working a full time job
How to build a solid team that can put out the fires while you chill on a beach in Mexico
Networking as a “lifestyle”
Owning a frat house
What to look for when buying a multifamily
Why real estate is better than other retirement options
The most helpful technological aid in Cory’s business
And a whole lot more!

Links from the Show:

Why I’m Not a Flipper-Don’t Kill the Goose! by Cory Binsfield
How to “Hack” Your Housing and Get Paid to Live for Free by Brandon Turner
The BiggerPockets Tour

Books Mentioned in the Show:

The Millionaire Real Estate Investor by Gary Keller
The Shareholder Letters by Warren Buffett

Tweetable Topics:

“Networking is a lifestyle.” (Tweet This!)
“There’s not a single path to success in real estate.” (Tweet This!)
“You don’t want a “good” life, you want a “great” life.” (Tweet This!)

Connect with Cory:

Cory’s BiggerPocket Profile

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85: Hybrid Investing, Long Distance Rentals, and Property Management with Mike McKinzie Aug 28, 2014

Show notes

Today on the BiggerPockets Podcast we chat with Mike McKinzie, a full time real estate investor from Garden Grove, CA. Mike is an investor and former property manager who has personally dealt with over 5,000 real estate transactions, but focuses most of his attention today on using property management to invest both locally and out of state.

This show explores a variety of topics related to buy and hold real estate investing and offers a significant amount of actionable information on how to set up property management, covering everything from what questions to ask, what should be expected, and a whole lot more!

In This Show We Cover…

Growing up in a real estate family
Hybrid real estate investing
The key is to success in rental properties
Getting your real estate license as an investor
How to prepare yourself for future-changing markets
If you’re going to invest based on appreciation, THIS is how you do it!
The importance of updating trusts…
How property managers can turn into lead sources
How do you vet property managers?
What does a property manager do?
Managing your own portfolio
How neighbors will help you keep an eye on your property
How to deal with HOA’s the right way!
The importance of due diligence
The difference between housing classes
Dealing with marijuana
And a whole lot more!

Links from the Show:

Books Mentioned in the Show:

The Richest Man in Babylon by George S. Clason
Think and Grow Rich by Napoleon Hill
The Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets.com

Tweetable Topics:

“You are the boss of your property manager…fire them if need be!” (Tweet This!)
“Make friends with the neighbors of your property, and you’ll always have eyes on your property…” (Tweet This!)

Connect with Mike:

Mike’s BiggerPocket Profile

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84: Getting Started with Creative Finance and Designing Your Ideal Lifestyle With Chad Carson Aug 21, 2014

Show notes

Today on the BiggerPockets Podcast we sit with Chad Carson, a full time real estate investor from Clemson, South Carolina. Chad brings expertise in a TON of areas including everything from fix-and-flips to creative finance, property management to buy-and-hold.

This show explores how to use real estate as a means to design the lifestyle you really want.

There are a ton of tips and tricks in this one, so dive in!

In This Show We Cover…

How to get started straight out of college
The benefit of having a few key buyers vs. a buyers list
The key is sincerity, hunger and enthusiasm
Getting your real estate license as an investor
How to prepare yourself for future-changing markets
The key to networking with financial partners
Direct mail tips and strategies
Lifestyle design through real estate
The importance of the “why” behind your business
50/50 partnerships
Property managing your own portfolio
Creative finance strategies
Self-Directed IRA’s
Using court records to look up potential tenants
An awesome example of an elevator pitch
The importance of protecting your lenders
And a whole lot more!

Links Mentioned in The Show:

Books Mentioned in the Show:

Building Wealth One House at a Time: Making it Big on Little Deals , by John Schaub
The Warren Buffet Way, by Robert G. Hagstrom
The 7 Habits of Highly Effective People, by Stephen R. Covey

Tweetable Topics:

“Sometimes growing big brings a price you might not need to pay for the lifestyle you want…” (Tweet This!)
“The minute you break people’s trust is the moment you lose everything!” (Tweet This!)

Connect with Chad’s:

Chad’s BiggerPocket Profile

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83: Profitable Landlording with Integrity with Marcia Maynard Aug 14, 2014

Show notes

Today on the BiggerPockets Podcast we are excited to sit down with Marcia Maynard, a hands-on landlord who hails from Vancouver, Washington.

Marcia got her start in real estate by marrying into “the family business” that already had an existing portfolio, but continued on the tradition to help fund her own future retirement. On today’s show, she goes into detail on how you can invest part-time for retirement while making a HUGE impact on the community in the process!

This show covers the importance of integrity in a landlord’s life and is filled with actionable tips for dealing with tenants in an ethical – yet profitable – way. This is a great show, let’s get into it!

In This Show We Cover…

How to invest with family
The importance of setting up your business structure and what happens when you don’t!
Insurance – Do you need an umbrella policy?
The awesome path of buying rental properties slowly
Personal Finance 101
How to love your job and invest in real estate on the side
The benefits of a mission statement
The importance of coaching your tenants to have more integrity
How to handle conflicts with tenants
An awesome alternative to evictions!
The importance of a calling up prior landlords
Red flags of bad tenants,
Actionable items for vetting tenants over the phone
Using court records to look up potential tenants
And a whole lot more!

Links Mentioned in The Show:

The NYC Real Estate Investor Meetup with Brandon
BiggerPockets Keyword Alerts
Marcia’s exact Tenant Screening Interview questions
A Slow, Boring, Incredibly Awesome Strategy for Building Wealth Through Passive Real Estate Investing by Brandon Turner
Padmapper.com

Books Mentioned in the Show:

Landlording by Leigh Robinson
Your Best Year Yet by Jinny S. Ditzler

Tweetable Topics:

“Start with a dream, make goals, take action, then reflect and improve…” (Tweet This!)
“Landlording is like a game of chess.” (Tweet This!)

Connect with Marcia’s:

Marcia’s BiggerPocket Profile

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82: From 0 to 800 Real Estate Deals with David Krulac Aug 07, 2014

Show notes

Today on the BiggerPockets Podcast we are excited to sit down with David Krulac, a real estate renaissance man who has experience in nearly every aspect of the industry, being involved in over 800 deals in his career.

In today’s show we cover everything from prospecting tenants, how to buy at auctions, sub-dividing land, tax deeds and much, much more!

In This Show We Cover…

Purchasing houses from auctions
How David’s first deal lead to him living rent and mortgage free for 6 months
The importance of working with Credit Unions
Dealing with probates
Month-to-month leases vs annual leases
1031 Exchanges
The ins and outs of subdividing land
Tax deeds vs. tax liens
The importance of an epic business card
How to go from o to 800 deals
An example of a super risky deal!
What to watch out for when you go to buy at auctions
What to look for in a potential tenant
And a TON more!

Links Mentioned in the Show:

Books Mentioned in the Show:

How to Turn $1,000 into a 5 Million by William Nickerson
Landlording by Leigh Robinson
Buy and Hold by David Schumacher
Millionaire Next Door by Thomas J. Stanley
How I Started with Nothing and Made 12 Million in Real Estate Part-Time by David Krulac

Connect with David:

David’s BiggerPocket Profile
David’s Website: CentralPennLots.com

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81: Generating Real Estate Leads Through Direct Mail with Michael Quarles Jul 31, 2014

Show notes

Today on the BiggerPockets Podcast we are excited to welcome back Michael Quarles to the show. Several weeks ago we talked with Michael about his story and spent most of the show discussing the topic of negotiation, never getting to one of the most important topics we wanted to discuss with Michael: marketing. Specifically, Michael is a wealth of knowledge on all things involving direct mail, so today we’re going to tap into that knowledge.

Today, Michael is going to teach you everything you need to know to get started in successful direct mail marketing and attract leads that no one else can get. We cover everything from market research to creating a call-capture system and everything in between. This show will go down in the history of BiggerPockets as one of the most actionable shows to date!

In This Show, We Cover:

The ins and outs of whole-tailing
Everything you ever wanted to know about direct mail
The beauty of controlling who calls you through direct mail
How to start marketing even if you only have $500
What to do in the face of rejection
How much does a starter marketing budget cost?
How BiggerPockets is like a beautiful woman
How to do your market research
Softwares that tell you what houses in your market have equity
What filters to set in terms of lead generation
Probate vs. absentee owners
How to generate leads from bandit signs without EVER using them
The 5 different types of direct mail
The importance of using multiple types of mail
Hand-written font vs. actual writing
The biggest mistake people make in direct mail
How many times should you repeat a mail sequence?
The importance of setting up your call capture system
How to memorize scripts
and much, much more!

Links Mentioned

Tweetable Topics

“I’m not a passive income earner, I’m a massive income earner.” (Tweet This!)
“People don’t buy what you sell, they buy who you are.” (Tweet This!)

Connect with Michael

Michael’s BiggerPockets Profile
Michael’s Website: http://www.yellowletters.com/

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80: Smart Rental Property Investing, Getting Your License, and Investing For Retirement with Jonna Weber Jul 24, 2014

Show notes

Today on the BiggerPockets Podcast we are excited to sit down with a Jonna Weber, a buy-and-hold investor and real estate agent out of the Boise, ID area.

Jonna is a great example of how anybody can and should invest in real estate! In our conversation, we cover a lot of ground on how to use real estate for retirement and why real estate is a better avenue than the stock market. We also cover why an investor might want to become a real estate agent, how to find investor-friendly agents, what to look for when purchasing an investment property and much much more!

In This Show We Cover…

How anyone can invest in real estate
Why would an investor become an agent in the first place?
The importance of running the numbers with someone else
Why investors are the best clients for an agent to have
The hardest part of being a landlord
How to get longer leases out of your tenants
How to use BiggerPockets as a resource to manage your own properties
Creating an “in-house” property management company for only your own properties
Financing how-to’s
Using cash flow to build cash reserves
Real estate vs. the stock market
Investing in real estate for retirement
How to be safe as an investor and agent
What to check for during your due diligence process
On market deals vs. off market deals
How to find an investor-friendly agent
And a TON more!

Links Mentioned in the Show:

Books Mentioned in the Show:

Art of Non-Conformity by Chris Guillebeau
Buy and Hold Forever by David Schumacher

Tweetable Topics:

“Managing your own properties is short term pain for a long term goal.” (Tweet This!)
“It’s not an emergency unless it’s ACTUALLY an emergency.” (Tweet This!)
“If you can run your numbers with someone else, it will help you avoid the shinny object syndrome.” (Tweet This!)

Connect with Jonna:

Jonna’s BiggerPocket Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices

79: Low Income Landlording and Investing to Make a Difference with Michele and Bruce Fischer Jul 17, 2014

Show notes

Today on the BiggerPockets Podcast we are excited to sit down with a couple who together, intentionally invest where most landlords fear to tread . . . low income housing.

Michele and Bruce Fischer who hail from Longview, Washington, decided to make a difference by landlording in areas that are so low-income, that even Section-8 doesn’t work in their neighborhood. In our conversation we dive into some really important topics regarding how to screen low-income tenants, how to handle (pets like pitt-bulls), what to do when your tenant is late on the rent, working with your spouse, what to do when the reality is your tenant will become homeless if you evict them, how to “tenant-proof” in low-income areas and a lot more! You don’t want to miss this one!

In This Show We Cover…

Why would you invest in low-income areas in the first place?
What to look for when purchasing a low-income property
How playing “Monopoly” with no money makes you a better real estate investor
Handling late payments
The “prostitute tenant” story (Yes, really…)
How to practically invest with your spouse
Renting to low income tenants with low income pets (including those with dangerous animals.)
Michele and Bruce’s #1 source of leads
How to “tenant-proof” low-income rentals
How to utilize a line of credit for investing in real estate
Cash flow vs. appreciation
Using Facebook to vet potential tenants
And a TON more!

Books Mentioned in the Show:

See Poverty, be the Difference by Donna M. Beegle
Money or Your Life by Vicki Robin and Joe Dominguez

Tweetable Topics:

“Prostitution does pay the rent well!” (Tweet This!)
“Arguing with your spouse is part of the #landlording process!” (Tweet This!)
“We invest in real estate in order to make a difference.” (Tweet This!)

Connect with Michele and Bruce:

Michele’s BiggerPocket Profile
Michele’s BiggerPockets Member Blog

Learn more about your ad choices. Visit megaphone.fm/adchoices

78: Quitting Your Job, Buy & Hold Investing, and Succeeding With High-End Rentals with Brie Schmidt Jul 10, 2014

Show notes

Today on the BiggerPockets Podcast we are excited to sit down with a real estate investor who just said “you’re fired!” to her day job and became a full-time real estate investor!

We are talking with Brie Schmidt, who invests in a wide range of rental properties in the Midwest and shares some incredible insight into how she finds them, finances them, and manages them. In our conversation we dive into some really important topics regarding personal finances, getting your first deal, working with your spouse, tenant-friendly laws, when to quit your job, and a lot more! You are going to LOVE this episode!

In This Show We Cover…

Why Brie chose a triplex for her first primary residence
Choosing appreciation vs. cash flow in a buy and hold investment
Why Brie decided to diversify her investments into long-distance investing.
What makes an area “landlord–friendly” vs. “tenant friendly“
Dealing with maintenance request issues.. even while on vacation.
Why Brie calls herself a “YouTube Landlord“
Real Estate as a hobby vs. a business
Why Brie encourages Pets.. even a 120lb dog!
When should you quit your job?
Investing with your spouse: how to make it work
House Hacking and using your personal finances to fund your investments
Using online software to help you control your spending and invest in real estate
The one question that Brie asked that led to a ton of deals, financing, and partnerships.
Should you allow smokers in your rental unit?
And a TON more!

Links from the Show

BiggerPockets Webinars
PayNearMe.com/biggerpockets
Handyman Matters
Income Property TV Show
How to Hack Your Housing and Get Paid to Live For Free Blog Post by Brandon Turner
Mint.com
The Book on Estimating Rehab Costs book by J Scott, Published by BiggerPockets Publishing.
Tenant Screening: The Ultimate Guide
Postlets.com
IfThisThenThat: IfTTT.com

Books Mentioned in the Show:

The Millionaire Real Estate Investor by Gary Keller
The One Thing by Gary Keller

Tweetable Topics:

“They should force lawmakers to own rental properties before writing the laws.” (Tweet This!)
“BiggerPockets: Pissing Off Employers Since 2004” (Tweet This!)
“What’s more important? Getting rich or staying married?” (Tweet This!)
“The beginning of budgeting is understanding where you are.” (Tweet This!)
“I’ve learned more on the BiggerPockets forums than any book I’ve ever read.” (Tweet This!)

Connect with Brie:

Brie’s BiggerPocket Profile
Brie’s Twitter: @ChicagoBrie
Brie’s Website: ChicagoBrie.com

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