BiggerPockets Real Estate Podcast

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Latest Episodes:

56: Syndicating Deals, Investing without Tenants, and Tax Liens with Ankit Duggal Feb 06, 2014

Show notes

Dealing with tenants can be a pain… which is why on today’s show we’re going to go beyond tenants and look at some “no-tenant” methods of investing in real estate.

Specifically, we’re going to talk with real estate investor Ankit Duggal about his journey from real estate agent to syndicator to house flipper to landlord and finally to tax lien investor. Ankit has a great story and offers hundreds of great pieces of advice on this show perfect for both the new investor or someone looking to add some new skills to their investor tool belt!

In This Show, We Cover:

Getting started at a young age
Transitioning from Agent to Investor
How Ankit financed his early investments using other people’s money
Your three circles of influence for raising money
The three team members you need before syndicating
Investing with close family members
What is a tax lien and how (and why) to buy one.
Earning 18% on your money through Tax Liens
Why tax liens have almost no risk
How to do your due diligence on a tax lien
And lots more!

Books Mentioned in this Show

The Real Estate Game: The Intelligent Guide To Decisionmaking And Investment by William J. Poorvu
Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow

Links from the Show:

Tweetable Topics

I’m not “money-driven” – I’m “lifestyle-driven.” (Click to Tweet!)
Educated yourself as an investor. That’s the first step in any investment. (Click to Tweet!)
I don’t believe in ‘get rich quick.’ You gotta put in the time and effort. (Click to Tweet!)

Connect with Ankit

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55: The Five Steps Needed to Get Any Lender to Say “Yes” with Jimmy Moncrief Jan 30, 2014

Show notes

Simply put – this podcast could change your financial life.

You see, a banker can be your best friend or your worst enemy when trying to invest in real estate, as a great loan can mean the difference between long term success and failure. This is why we are super excited to introduce you to Jimmy Moncrief (your new best friend!) on the BiggerPockets Podcast today.

Jimmy is a commercial bank underwriter as well as a real estate investor, so he has a unique insight into the mind of a bank – especially involving real estate investing. . Jimmy is going to share some incredible, actionable tips that any investor can start using today to get your bank to say “Yes” to your next financing request. In addition, Jimmy offers some unique tips for finding great FSBO deals and getting into your first deal.

This show contains so many tips and ideas to help you do more deals, get better financing, and change your future – so grab your pen and paper and set aside the next hour for a truly remarkable show.

Read the transcript for episode 55 wth Jimmy Moncrief here.

In This Show, We Cover:

Turning your own home into a rental
Buying a cash flow crazy triplex
Jimmy’s “lucky” method of finding properties FSBO
How real estate investors do everything backwards
Jimmy’s awesome “Quick Tip” about interviewing a bank
An insider look at the Five “Cs” for getting a loan
Why Jimmy hates credit scores
How to turn around a loan denial
Getting commercial “HUD” loans
Tips for refinancing your investment properties
Using cross collateralization to secure financing
No money down… is it possible?
And LOTS more…

Books Mentioned in this Show

The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime by MJ DeMarco
The Four Hour Workweek by Timothy Ferriss
80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More by Perry Marshall

Links from the Show:

Tweetable Topics

HUD loans are like a pregnancy: fun at the beginning, painful at the end! (Click to Tweet!)
If you are serious about investing in real estate – you need to know the 5 Cs. (Click to Tweet!)
If you take a proactive approach to lending, everything works out better. (Click to Tweet!)
If you want to be a serious real estate investor – treat it like a business. (Click to Tweet!)

Connect with Jimmy

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54: Investing in Under $30k Real Estate, Working a Day Job, and Good Vs. Bad Neighborhoods with Lisa Phillips Jan 23, 2014

Show notes

How much money does it really take to buy a rental property?

$200,000? $100,000? $75,000?

On today’s show, we are going to chat with Lisa Phillips, a real estate investor who buys real estate in the under-$30,000 range and achieves some incredible cash flow from her mostly-passive investing. Lisa shares some amazing insights into how she went from a personal foreclosure to owning several rental properties – bypassing the banks and investing creatively. If you are someone who is looking to get started investing with real estate investing without spending hundreds of thousands of dollars – this is the show for you.

Read the transcript for episode 54 with Lisa Phillips here.

In This Show, We Cover:

Investing in real estate while navigating the instability of day jobs
How going through a foreclosure changed Lisa’s financial future… for the better
Knowing when to call it quits
Tips for negotiating with creditors
What makes motivated sellers attracted to a certain real estate investor?
Tips for defining a good vs bad neighborhood
Finding a property manager who exceeds your expectations
How much does a good property manager charge?
Simple tips for attracting the best tenants to your rental properties
The positives and negatives of low-price investing
What crimes are acceptable?

Links from the Show

Books Mentioned in the Show:

Rich Dad Poor Dad by Robert Kiyosaki
The 4 Hour Workweek by Tim Ferriss

Tweetable Topics

“Be clear & upfront with what you can do for other people. What’s in it for them?” (Click to Tweet!)
“Landlords: never sacrifice your standards just to fill a vacant unit.” (Click to Tweet!)
“When looking to invest in real estate, leverage the power of the internet.” (Click to Tweet)

Connect with Lisa

Lisa’s BiggerPockets Profile
Lisa’s BiggerPockets Video Blog
Lisa’s website: www.AffordableRealEstateInvestments.com

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53: Investing Without Loans and Retiring Early with Jason Hull Jan 16, 2014

Show notes

On today’s episode of the BiggerPockets Podcast we have an incredible chat with financial planner, real estate investor, and an all-around great guy – Jason Hull.

Jason has a great story of how his early mistakes led to his conservative but effective strategy of building wealth through rental property… all without the use of leverage, loans, or doing any labor. Jason has some terrific insight into the way our human behavior causes us to act and invest, – so don’t miss this entertaining and informative show that will have you looking at your real estate in a whole new light.

Read the transcript for episode 53 with Jason Hull here.

In This Show, We Cover:

Getting over-extended with his first deals and facing the housing collapse
The “Oh Crap” backup plan
The only two ways to make money in real estate
Separating your skills from what the market is doing
Getting “lucky” in real estate
Getting to “P.I.R.E.” = Passive Income, Retire Early
Why Jason doesn’t use leverage (mortgages)
How to find an awesome property manager
Working with a Financial Planner
Stocks vs. Real Estate… Where is the balance?
Why you should open a Roth IRA with $100

Links from the Show

Books Mentioned in the Show

123 Home Depot
Entreleadership by Dave Ramsey
The Goal by Eliyahu M. Goldratt
The Four Hour Chef by Timothy Ferriss

Tweetable Topics

Invest for the cash flow. The appreciation is just gravy. (Tweet This!)
I want to be lazy when I retire! (Tweet This!)
Having money problems with your spouse is a sign of bad communication. (Tweet This!)

Connect with Jason

Jason’s Website: HullFinancialPlanning.com

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52: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy Jan 09, 2014

Show notes

On today’s episode of the BiggerPockets Podcast, we talk with one of the most influential voices in the real estate investing world today – Ken McElroy.

Ken, the author of The ABC’s of Real Estate Investing and several other influential books, shares his story of getting started with nothing and building up a real estate investment company with thousands of units and hundreds of employees. Ken has a lot of great advice and knowledge for people at all stages of their investing careers, and shares it in a fun, entertaining manner.

On today’s show we’re going to talk a lot about getting started, raising capital, and investing in large apartment complexes for big wins. Don’t miss a second of this exciting show!

Read the transcript for episode 52 with Ken McElroy here.

In This Show, We Cover:

Getting started with no money – through property management
Why should someone invest in multifamily properties?
Using other people’s money to invest in real estate
Investing at a distance vs. investing locally
Determining the best locations and markets to invest in real estate
Cash flow vs. appreciation: which is best?
Ken’s newest $9 million dollar project
Why Ken loves bad landlords
How to find amazing apartment complex deals
Raising millions of dollars in 20 minutes
How to find a great property manager?
Should someone start with Apartment Complex Investing?
The worst mistake you can make as a real estate investing

Links from the Show

What is a Cap Rate? (Capitalization Rate) (article about Cap Rates)
BiggerPockets Presents: The 21 Best Real Estate Books Ever

Books Mentioned in the Show

The Art of the Deal by Donald Trump
The Best Real Estate Advice I Ever Received by Donald Trump
Turning Pro by Steven Pressfield
Tribal Leadership: Leveraging Natural Groups to Build a Thriving Organization by Dave Logan
The Crash Course: The Unsustainable Future Of Our Economy, Energy, And Environment by Chris Martenson
The ABC’s of Real Estate Investing by Ken McElroy
The Advanced Guide to Real Estate Investing by Ken McElroy

Tweetable Topics

The faster you fail, the smarter you get. (Tweet This!)
“You don’t need to be an expert at everything.”(Tweet This!)
There’s a lot more money out there than deals. (Tweet This!)
The best deals are generated from face to face relationships. (Tweet This!)
The entire goal of my company is to replace myself. (Tweet This!)

Connect with Ken

Ken’s Website: KenMcElroy.com
Ken’s BiggerPockets Profile

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51: Small Multifamily Properties, Working a Full Time Job, and Training Tenants with Mike Sherwood Jan 02, 2014

Show notes

On today’s episode of the BiggerPockets Podcast, we cover a huge range of really important topics with real estate investor Mike Sherwood, including investing while holding a full time job, working with a partner to grow quickly, getting started with a small multifamily property, and a lot more.

Mike has invested in the Buffalo, NY for several years now, doing both rentals and is getting into fix and flip, so he has a ton of insight for both those just getting started and for those with a lot of experience already.

This show has so much good information and helpful tips for any real estate investor, this is going to be one you’ll want to listen to over and over just to make sure you get all the great nuggets out of it.

Read the transcript for episode 51 with Mike Sherwood here.

In This Show, We Cover:

Buying a small multifamily to live for free
The secret to living next door to your tenants
Training your tenants
When is an emergency an emergency?
Managing your own properties vs. hiring a property manager
Tips for working a full time job AND investing on the side
Finding good deals on the MLS
How Michael found a partner to invest with
Legally structuring a partnership for real estate
Ways to systematize your business
The key to finding partners on BiggerPockets
Flipping houses while working a full time job

Links from the Show

Tenants: Customers or Scum? (Training Your Tenants) by Peter Giardini
The Real Estate Agent’s Ultimate Guide to Working with Investors
Rentecdirect.com
Online Property Management Software list from BiggerPockets
BiggerPockets Keyword Alert System
BiggerPockets.com/meet
The BiggerPockets Rental Property Calculator
Tenant Screening: The Ultimate Guide

Books Mentioned in the Show

The eMyth Revisited by Michael Gerber
Landlording on AutoPilot by Mike Butler
Four Hour Workweek by Timothy Ferriss
Start Small, Profit Big in Real Estate: Fixer Jay’s 2-Year Plan for Building Wealth by Jay DeCima
Building Wealth One House at a Time by John Schaub

Tweetable Topics

“Establish guidelines upfront with your tenants to save yourself a lot of trouble.” (Tweet This!)
“I wish there were more agents who understood what investors want.” (Tweet This!)
“You can make any real estate deal look good with 80% down.” (Tweet This!)
“The most important thing in a partnership is being able to constructively handle differences.” (Tweet This!)

Connect with Mike

Mike’s BiggerPockets Profile
Mike’s Website: www.CandMRental.com

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50: Getting Started and No Money Down House Flipping with Mike Simmons Dec 26, 2013

Show notes

On today’s episode of the BiggerPockets Podcast, we sit down and talk about the best ways to get started with real estate investing, as well as some killer tips for investing without using your own money.

From picking a niche, overcoming analysis paralysis, and a lot more – our guest, Mike Simmons, will share his story of overcoming obstacles and becoming a full time house flipper in the Metro Detroit area.

Mike has a great story and an incredible strategy for flipping houses using no money of his own, so whether you are brand new or have been investing for years – you don’t want to miss Mike’s creative advice.

Read the transcript for episode 50 with Mike Simmons here.

In This Show, We Cover:

Overcoming “shiny object syndrome” and “analysis paralysis”
Losing $1000 on his first “almost deal.”
Finding contractors without losing your hair
Dealing with Detroit investing
Why Mike had to evict a squatter who broke into his property
Finding good deals in any market
Using social media to attract private money
Using partnerships to get started or to grow
How Mike structures partnerships
Should you start with wholesaling?
And a whole lot more!

Links from the Show

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The Art of the Deal by Donald Trump
The Millionaire Next Door by Thomas J. Stanley
Wealth Attraction for Entrepreneurs by Dan Kennedy

Tweetable Topics

You can read for days – and never do anything. Get out there and DO something. (Tweet This!)
Work with a Realtor who knows you and knows your business. (Tweet This!)
50% of something is better than 100% of nothing. (Tweet This!)

Connect with Mike

Mike’s BiggerPockets Profile
Mike’s Website and Podcast: JustStartRealEstate.com

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49: Real Estate Tax Tips, Jokes, and Loopholes With Amanda Han Dec 19, 2013

Show notes

In today’s episode of the BiggerPockets Podcast, we are going to talk about something you may think is a bit boring… taxes..

BUT WAIT! Perseverance

Before you move on to go watch the latest episode of Dancing with the Stars… I promise you this interview isn’t going to bore you to tears, but in-fact could potentially save you thousands of dollars this year alone on your upcoming tax bill. Today, real estate investor and CPA Amanda Han is going to bring a TON of really great tips and advice to help you make sure you are making, and keeping, the most wealth possible.

Additionally, this show is one of the most fun interviews we’ve done on the Podcast, so it definitely brings the once-boring topic of tax planning to a whole new entertaining level. No matter what stage of investing you are in – you definitely don’t want to miss this incredible show.

Read the transcript for episode 49 with Amanda Han here.

In This Show, We Cover:

How to find a good syndication deal
Important tax changes YOU need to know for 2013 and 2014
The Obamacare Tax – do you need to pay it?
The loophole that allows real estate investors to write off “paper losses.”
The new laws and tax changes that may limit your mortgage interest deduction
When to talk to a tax strategist
How to find a great CPA
The biggest misconceptions about tax deductions
What legal entity should you have?
Things YOU need to do before the end of 2013
How to deduct your cat food?
Investing with a Self Directed IRA
Common tax mistakes that many investors make
And much, much more.

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The Four Hour Workweek by Timothy Ferriss

Tweetable Topics

When looking at syndicated deals, the #1 most important thing to look at is the syndicator, the team behind the deal. (Tweet This!)
If you’re educating your accountant, it’s probably time to find a new one. (Tweet This!)

Connect with Amanda

Amanda’s BiggerPockets Profile
Amanda’s Company Website: KeystoneCPA.com

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

48: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager Dec 12, 2013

Show notes

On today’s episode of the BiggerPockets Podcast, we talk with real estate investor Darren Sager about his fascinating business model involving buy and hold real estate, live-in flips, and managing properties with minimal hassle.

This show is crammed full of awesome, actionable ideas, tips, and lessons – so don’t miss a second of it!

Read the transcript for episode 48 with Darren Sager here.

In This Show, We Cover:

The college professional who got Darren started
When to use the 1% rule
How Darren bought his first property for almost nothing down
The $400,000 live-in flip
The #1 most important characteristic Darren looks for in properties
The secret to renting property to people with children
How to save thousands of dollars using YouTube.
And a whole lot more

Links from the Show

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The 4 Hour Workweek by Tim Ferriss
The E-Myth Revisited by Michael Gerber
Millionaire Real Estate Investor by Gary Kellar
Millionaire Real Estate Agent by Gary Kellar
All You Can Do is All You Can Do, but All You Can Do Is Enough by Art Williams
Hamburger America by George Motz

Tweetable Topics

“If a deal doesn’t at least meet the 1% rule – run away.” (Tweet This!)
“It may be cliche, but when buying real estate… location is everything.” (Tweet This!)
“The worse condition a property is in, the more I’ll love it!” (Tweet This!)
“The most successful people are those who failed the most.” (Tweet This!)

Connect with Darren

Darren’s BiggerPockets Profile

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47: Apartment Complexes, NNN Leases, and Commercial Real Estate with Joel Owens Dec 05, 2013

Show notes

How do you like the idea of making double digit returns while not needing to lift a finger with your investments? If so – this is the show for you. On this 47th episode of the BiggerPockets Podcast we sit down with commercial real estate investor and broker Joel Owens to learn strategies for getting started with commercial real estate investing. From apartment complexes to NNN lease investing and a lot more, this show is packed full of tips for investors in all walks of life.

In This Show, We Cover:

How Joel got his start… from Pizza Owner to Apartment Broker/Buyer
Joel’s first investment… that turned bad quickly
What makes an A, B, C, and D neighborhood
How much does it really cost to buy commercial real estate?
Should someone start with apartments or single family properties?
Where to find apartment complexes and other commercial properties
How to determine the value of an apartment
How to carry out the “Value Add” strategy
No money down commercial investing?
Carrying a second mortgage when selling real estate
NNN Lease Investing – How to get started with this passive investments
And a LOT more

Links from the Show

Costar
Loopnet
BiggerPockets.com/calc
BiggerPockets.com/meet
Introduction to Real Estate Investment Deal Analysis by J Scott – (Great blog post about analyzing properties)

Books Mentioned in the Show

Dealmaker’s Guide to Commercial Real Estate: Strategy and Practice for the Intelligent Investor by Ray Alcorn

Tweetable Topics

“You have to have a certain mentality to live next to your tenants… I don’t have that personality.” (Tweet This!)
“If you are used to buying houses, apartment investing is the easiest to get into.” (Tweet This!)
“Real estate is like a roller coaster – fast lows and fast highs…with a lot of coasting in the middle.” (Tweet This!)
“Run your real estate like a business, not a hobby.” (Tweet This!)
“Small steps lead to big results.” (Tweet This!)

Connect with Joel