BiggerPockets Real Estate Podcast

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Check the full show notes here: https://biggerpockets.com/show511

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510: Work Less and Make More by “Working the System” w/ Sam Carpenter & Josh Fonger Sep 26, 2021

Show notes

As an entrepreneur, you may be used to putting in hours of work learning new tactics, skills, and strategies. Your business rests on your shoulders, and why wouldn’t it, you’re the one who built it from the ground up. While it’s a commendable feat to build a profitable business, it can also be a prison sentence for many “hands-on” entrepreneurs. This is how Sam Carpenter, author of Work the System felt as he put in 110 hours a week just to keep his business afloat.

Sam realized why he was working so hard without seeing results: there were no systems in his business. Once he started implementing systems and processes, he went from 110+ hour weeks to 2 hour weeks. The same happened with one of his students and now partner, Josh Fonger, who runs Work the System Enterprises where he helps business owners from over 50 countries scale their businesses with far less headache.

If you’ve ever felt that your business relies on you too much to take a day off, take a vacation, or simply work less every week, these are the two guys you need to talk to. Josh and Sam were kind enough to take three live guest calls on this episode’s recording to help with their specific business problems. As all the guests are real estate investors and professionals, much of the advice may translate to your business as well!

In This Episode We Cover:

Why a system doesn’t need to (and shouldn’t) be complicated to design and implement

Reducing your time, effort, and energy spent on work

Understanding which systems need to be fixed or removed entirely front our life

How to stop playing “whack-a-mole” with your business processes

Why so many businesses fall behind after improving

Creating a sustainable solution that gives you (the entrepreneur) maximum freedom

And So Much More!

Links from the Show

BiggerPockets Podcast

BiggerPockets Bookstore

BiggerPockets Podcast 254: Tim Ferriss on Real Estate, Becoming a Top Performer and His Tribe of Mentors

BiggerPockets Insights

BiggerPockets Books

BiggerPockets Podcast 137: How to Use Systems to Scale Your Real Estate Business with Sam Craven

Work the System Website

Click here to check the full show notes: https://www.biggerpockets.com/show510

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509: Cars & Cashflow: Manny Khoshbin’s Story from Homeless to $1B Sep 23, 2021

Show notes

If you scroll through Manny Khoshbin’s Instagram, you’ll see wealth, success, and a lot of very nice automobiles. You may look at his life and say “well, that must be nice”, but there is much more to Manny than Ferraris and private planes. A few decades ago, Manny was homeless, sleeping in a car with five other family members, simply trying to survive in America.

Manny’s dad wanted to protect his son from entering the military in Iran, so two weeks before Manny’s birthday, the family packed up and left for the United States. They were homeless for a couple of months but slowly were able to find jobs and scrape together some money. Manny worked at a swap meet, a K-mart, a multi-level marketing company selling snacks, and other various jobs.

As he was working he realized that the people driving the Porches, Lamborghinis, and Mercedes were all investing in real estate. After making money in his entrepreneurial endeavors, he bought his first commercial property. Now, two and a half decades later, Manny is sitting on a billion dollars worth of real estate. Oh, and did we mention he bought this all without syndicating?

In This Episode We Cover:

Manny’s “American Dream” story from immigrant to multimillionaire

Why commercial real estate is such a profitable investment

Value-add opportunities and flipping commercial real estate over the span of a few years

Which real estate industries are on the downward trend (and which to invest in)

The steps new real estate investors should take to make it big

Why Manny’s luxury cars are an investment, not just toys

And So Much More!

Links from the Show:

Books Mentioned in this Show:

Trump: The Art of the Deal by Donal Trump

Manny Khoshbin’s Contrarian Playbook by Manny Khoshbin

Driven: The Never-Give-Up Roadmap to Massive Success by Manny Khoshbin

Check the full show notes here: https://biggerpockets.com/show509

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508: How to 10x Your Deal Flow Using "Evergreen Content" Sep 21, 2021

Show notes

It’s tough out there. Between investors, agents, and wholesalers, everyone you know wants to get a home under contract. So what do you do when there is an influx of buyers and the same amount of sellers? Start building systems that can beat out your competition and will flow deals directly to you for years to come! Now we know what you’re saying, “I wish that were possible”, but it may be easier than you think.

Trevor Mauch, founder of Carrot, spent years manually chasing after deals. Cold calling, door knocking, direct mail, and every other method you can imagine; he's tried it. While these strategies work great for many people, they’re labor-intensive and incredibly hard to scale. Trevor looked at the marketing he was doing that WASN’T outbound and realized it wasn’t only creating leads for him, but doing so while he slept.

He then started building out Carrot, which helps set up agents, investors, wholesalers, and anyone else who wants off-market deals with websites that convert consistently every day. What sets apart Carrot from most “we buy houses for cash” websites is their “evergreen content” production. This content ranks you higher on google, gets sellers and buyers reaching out to you, and allows you to do less work and close on more deals.

Learn more about how to make this happen at carrot.com/pockets

In This Episode We Cover:

Getting out of the “hamster wheel” lead generation work

Outbound vs. inbound marketing and which requires less work from you

Why social media isn’t enough in this heavily digital age

Building your “authority hubs” so sellers or buyers can trust your business

Focusing on locations and niche markets to find more buyers and sellers

What Trevor thinks will happen in the housing market over the next few years

And So Much More!

Links from the Show

EP 246: How to Double Your Commissions Without Doubling Your Team w/ David Greene of Bigger Pockets [HYBRID Part 1]

Zillow

Carrot Software Company

How to Get More Motivated Seller Leads (with no paid ads) Using 1 Proven, Simple Marketing Strategy (Free Live Workshop)

Check the full show notes here: https://biggerpockets.com/show508

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507: Sacrifice, Failure and Pain, A 100 Days of Hell Success Story w/The Iron Cowboy Sep 19, 2021

Show notes

Finishing a triathlon is a grueling achievement, only accomplished by those who are in peak physical and mental condition. Once finished, the top of the top go on to train for an Ironman, arguably the toughest triathlon on the planet. One hundred and forty miles of pain and pressure, broken up into a two-mile swim, a one hundred and twelve-mile bike ride, and a twenty-six-mile run. This is not a race for the faint of heart, and if you can finish just one, you have bragging rights forever.

What would it take for someone to finish not one ironman, not two, not ten, not twenty, but 100 consecutive Ironman races, back to back? Wake up, swim, bike, and run over one hundred and forty miles, go to sleep, and do it all over again. That’s what James “Iron Cowboy” Lawrence did, smashing through world records and personal goals.

James sits down with Brandon and David today to talk about mental toughness, creating goals that scare you, gradually working your way up to mastery, and asking “what am I willing to sacrifice to reach the end?” James had to run a business, take care of his seven-person family, and compete for more than a quarter of a year straight. If he can conquer one of the greatest physical and mental feats the world has ever witnessed, what’s stopping you from accomplishing your goals?

In This Episode We Cover:

Pushing yourself past the limit to see what you’re truly capable of

Breaking multiple world records and developing mental toughness

Why your goals should scare you enough to pursue them

Why you don’t need to 10x your output and the importance of small steps

Finding what you’re willing to sacrifice to reach your goal

Why every great athlete, entrepreneur, and leader needs a rockstar team

Choosing the person who “doesn’t break” under hard circumstances

And So Much More!

Links from the Show

BiggerPockets Podcast

BiggerPockets Bookstore

BiggerPockets Podcast 485: Atomic Habits That Help You Achieve Unthinkable Success w/ NYT Best Selling Author James Clear

BiggerPockets Perks

BiggerPockets Insights

BiggerPockets Books

James “Iron Cowboy” Lawrence's Website

Click here to check the full show notes: https://www.biggerpockets.com/show507

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506: Achieving Financial Freedom Through Small Multifamily Investing Sep 16, 2021

Show notes

Financial freedom is attainable for all of us, but how fast we reach it differs greatly. You may be making $100 profit per month on each single-family home you buy, but what if you could multiply that profit? A duplex becomes $200 per month, a fourplex, $400, and a 16 unit apartment will net you a solid $1,600 per month. Now, it’s not a goal of buying 50+ single-family homes to reach financial freedom, it’s buying 10 or so small multifamily investments.

This simple mindset tweak can change your life and investing career forever, it certainly did for Brandon Turner, host of The BiggerPockets Real Estate Podcast and author of The Multifamily Millionaire. This pre-recorded webinar walks through the key benefits of investing in small multifamily, how to find and finance deals, risks to look out for, and scaling so you can go full-time in real estate.

There are tons of tips, tricks, and free giveaways (including discount codes) throughout this episode, and if you’re looking for visuals, head over to the BiggerPockets Youtube Channel to see the full slideshow!

In This Episode We Cover

How to reach financial freedom through small multifamily investing

The four key benefits of investing in multifamily properties

How to find deals (even if you live in an expensive area)

How to analyze your multifamily deals using the BiggerPockets Calculators

Financing your deals using FHA loans, conventional loans, and seller financing

Risks and dangers to look out for in your next deal

And So Much More!

Links from the Show

The BiggerPockets Bundle Giveaway

BiggerPocketsWebinar: How to Become a Real Estate Millionaire (presented by Brandon Turner)

BiggerPockets Podcast 463: How to Get Your First or Next Property (Step-by-Step) in 90 Days

BiggerPockets Rental Property Calculator

BiggerPockets Podcast

BiggerPockets Webinar Replays

BiggerPockets Bookstore

BiggerPockets Perks

BiggerPockets Insights

BiggerPockets Books

BiggerPockets Multislides

BiggerPockets 7 Years to 7 Figure Wealth

BiggerPockets Pro Upgrade

Realtor

Multiple Listing Service (MLS)

Gary Keller

Email Your Questions: podcast@biggerpockets.com

Check the full show notes here: https://www.biggerpockets.com/show506

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505: “Act Like You Have 100+ Units” | Coaching Calls w/ Brandon Turner Sep 14, 2021

Show notes

You hear Brandon Turner’s voice quite often on the BiggerPockets Real Estate Podcast, but rarely is it heard advising new investors. Today, Brandon is taking on three live “coaching calls” with three investors, all in different stages of their investing career. Brandon and the guests talk through topics like scaling your business, branding your real estate company, and when the right time to hire is.

These investors have portfolios ranging from a few units to more than forty, making this an episode that any investor can listen to, no matter where they’re at in their real estate investing journey. This advice is hand-tailored for each investor, and comes from someone who has made it out of that “awkward teenage investing” phase.

In This Episode We Cover:

How to hire out property management when your portfolio begins to grow

Appealing to higher authority when you have to make tough decisions

Acting like you own the portfolio you’re trying to scale to

Branding your real estate company so people can trust you and invest with you

Starting your own meetup if you don’t find one that clicks

Understanding that “everything gets easier as you grow”

And So Much More!

Links from the Show

The BiggerPockets Bundle Giveaway

Mobile Home Park Investors with Jefferson Lilly & Brad Johnson

The Mobile Home Park Investing Podcast with Kevin Bupp

Pay Near Me

BiggerPockets Facebook Page

BiggerPockets Facebook Group

BiggerPockets Instagram

Airbnb

Are Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do! (Youtube Video)

BiggerPockets Conference

Email Your Questions: podcast@biggerpockets.com

Joe's BiggerPockets Profile

Joe's Instagram

Joe's Facebook Page

Check the full show notes here: https://www.biggerpockets.com/show505

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504: The Millionaire Formula: 10 Steps to Hit 7-Figure Net Worth (Part 2) Sep 12, 2021

Show notes

Wouldn’t it be nice to be a millionaire? Sitting under a palm tree, relaxing, with plenty of money set aside for you. To be in that position you not only have to escape the rat race but pledge to live a life of continual improvement, always looking for ways you can be better. That’s exactly what Brandon Turner and David Greene did to reach their multimillionaire status and live a life of greatness.

In this episode, we continue listing the ten steps to become a millionaire, with a bonus step at the end. If you didn’t hearlast week’s episode, check out episode 503 for the first five steps mentioned by David and Brandon. This time, we talk about things like harnessing synergy, upgrading your social circle, quitting the things that hold you back, searching for continual improvement, and always giving back.

Think of becoming a millionaire less as a singular task and more as a continual journey. If you put in the work and follow these steps laid out by David and Brandon, you’ll have a high chance of becoming a millionaire (if not a multimillionaire) within the next decade. So get out there, meet people, make opportunities, and achieve the impossible.

In This Episode We Cover:

Getting on a team where your strength is amplified

Surrounding yourself with those who overachieve and push you higher

Finding a way to quit everything repeatable or assignable

Doing what others view as “hard” and pushing yourself to be great

Helping others upgrade their lives and giving back whenever possible

Taking advantage of this strong economy to tackle as much as you can

And So Much More!

Links from the Show

The BiggerPockets Bookstore

GoBundance

BiggerPockets Podcast 217: How to Work Less and Earn More Using the 80/20 Rule with Perry Marshall

Email Your Questions: podcast@biggerpockets.com

BiggerPockets Podcast 457: How Thinking 5 Moves Ahead Can Make You Millions with Patrick Bet-David

Click here to check the full show notes: https://www.biggerpockets.com/show504

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503: The Millionaire Formula: 10 Steps to Hit 7-Figure Net Worth (Part 1) Sep 09, 2021

Show notes

You probably know Brandon Turner and David Greene as multimillionaire real estate investors. What you may not know, is that a decade ago this was a very different story. Brandon didn’t grow up in a wealthy family, and by his 20s, had packed on about $20,000 of credit card debt while spending $1,000 more than he could afford each month. David grew up in a family where finances were a constant stressor, he later vowed to himself that he would never let money problems hurt him or the people he loves.

Now, both Brandon and David have made the long journey from rags to riches, and through investing in real estate they were able to pull themselves up by their bootstraps and reach financial independence. Today, we talk through the first five (of ten) steps that helped Brandon and David reach this financial feat.

This is a great episode to take notes on, as becoming a millionaire is close to impossible without following most, if not all of these steps. While this episode isn’t entirely focused on real estate investing, a large part of being a successful real estate investor is financial intelligence. Even if you’ve made mistakes in the past with investments, debt, spending, or any other financial lever, following these ten steps will give you a solid framework to stair-step your way into millionaire status.

In This Episode We Cover

How Brandon and David discovered their need for financial independence early in life

Thinking of money the same way you think about fitness and health

Reaching huge financial milestones, even if you started out with extra obstacles

Fighting lifestyle creep and never falling into the Ferrari trap

Building an income stream that is scalable, passive, and automated

The “stair-stepping” method that leads to massive wealth accumulation

And So Much More!

Links from the Show

The BiggerPockets Bookstore

Alan Corey

Gary Keller

BiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash Coming

BiggerPockets Podcast 447: Create Your Dream Life in 3-5 Years Using Vivid Visions with Cameron Herold

BiggerPockets Podcast 461: Defeating the “Enemy of Success” with Steven Pressfield (The War of Art)

GoBundance

YNAB (You Need A Budget)

Mint

Email Your Questions: podcast@biggerpockets.com

Check the full show notes here: https://www.biggerpockets.com/show503

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502: BiggerNews, September: Will Anything Slow Down this Housing Market? with Dave Meyer & Kathy Fettke Sep 07, 2021

Show notes

Welcome back to another episode of the BiggerPockets Podcast. Today, we’re trying a new format where David Greene and Dave Meyer bring on an expert in the real estate investing space and talk through all the market trends, legislature, and other factors influencing the housing market and economy.

As our special guest, Kathy Fettke from the Real Wealth Network joins us to talk about housing market predictions in 2021 and beyond, the eviction moratorium (and its effects after ending), and where investors should start looking for opportunities. We touch on economic concepts like supply and demand, how this market compares to 2007’s bubble, why millennials are soon to become the biggest buying cohort in America, and the underbuilding crisis that we’re currently facing.

If you’d like to request a topic for discussion or ask a question, send us an email at podcast@biggerpockets.com with NEWS in the subject line!

In This Episode We Cover:

Housing market predictions for 2021 and beyond

Comparing today’s high values to the values back in 2007

The eviction moratorium and the impact it had on mom and pop landlords

Understanding the difference between the dollar crashing and home values skyrocketing

When we will return to a more “normal” housing market

Why millennials face an uphill battle when trying to purchase homes

And So Much More!

Links from the Show