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Click here to check the full show notes: https://www.biggerpockets.com/show501

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500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash Coming Sep 02, 2021

Show notes

Robert Kiyosaki is arguably the most influential author in the finance, real estate, and investing space. His book, Rich Dad Poor Dad, has sold over thirty million copies and has been translated into forty different languages across forty different countries. Since its inception in 2002, Rich Dad Poor Dad has become almost every investor’s favorite book, prompting them to get out of the rat race, pursue financial independence, and teach them everything Robert’s “Rich Dad” taught him.

Robert has seen numerous housing cycles, including crashes, booms, and busts. His knowledge of micro and macroeconomics is astounding (to say the least) and he has some strong predictions for the future of real estate investing and the global economy as a whole. We talk about capitalism, marxism, communism, inflation, debt, assets, liabilities, and everything in between. This episode is not only crucial for anyone who is a fan of Robert’s books, board games, and videos but anyone who truly wants to learn the game of real estate.

As a general word of advice: Robert has some very strong opinions that he voices throughout this episode, and even if you disagree with any (or many) of them, it may serve helpful to listen to his full explanations of his takes. Robert has built an incredibly successful life, but started as a child of a financially dependent family, served in the marines during the Vietnam war, and has fought hard to keep capitalism alive and well in the United States, and abroad.

Be sure to grab Robert’s new book, Capitalist Manifesto, and thank you for joining us for the 500th episode of The BiggerPockets Podcast!

In This Episode We Cover:

Why Rich Dad Poor Dad remains a timeless classic in the investing world

Why Robert favors real estate, precious metals, and cryptocurrency above other assets

The difference between an asset and liability, and why so many Americans confuse them

Writing (and fighting) for freedom, prosperity, and wealth

Paying attention to the macroeconomic trends and using them to make smarter investing decisions

The assets that Robert is bullish on in today’s market

Why you need to love studying real estate to become successful

And So Much More!

Links from the Show

BiggerPockets Wealth Magazine

BiggerPockets Bundle

BiggerPockets Podcast 479: 10 Powerful Lessons Brandon Learned Building a $50M+ Rental Portfolio

Ray Kroc's Story

Dave Ramsey's Website

Cashflow Game

GoBundance

Ken McElroy's Website

David's Guesting on Ken McElroy's Show

Jordan Peterson's Website

Check the full show notes here: https://biggerpockets.com/show500

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499: The Death of The "Entrepreneur”: Experience from an 8-Figure CEO Aug 29, 2021

Show notes

Many people call themselves “entrepreneurs” nowadays. Essentially, anyone who can make some kind of income on their own is an entrepreneur, but there is a big difference between an entrepreneur and a business owner. While an entrepreneur can start businesses, a business owner can build, enhance, and delegate out a business. This is something that today’s guest, James Wedmore, is proficient at.

James’ experience in this field speaks for itself, he’s an 8-figure CEO, a highly sought-after coach for successful business leaders, and runs the Mind Your Business Podcast. He has a unique viewpoint when looking at growth, which allows many business owners to take a step back and think “what is truly achievable?”

James helps business owners grow their businesses into scalable, profitable, and successful operations. He focuses on building a “machine” that can run as a business, as opposed to a business owner doing 10+ different tasks, solely because they can. He also talks about the importance of having urgency in your product offering and giving your business what it needs to thrive, not just trying to extract what you need from it.

In This Episode We Cover:

The difference between entrepreneurs and business owners

Why so many business owners get bored of their business

Addressing the needs of your business and asking “what does it want from me?”

Letting go of technician roles in a business and delegating tasks

Getting rid of bad habits through mindful integrity

Forgiving yourself for mistakes, self-judgment, and blame

And So Much More!

Links from the Show

Mind Your Business Podcast

OpenDoor Capital

BiggerPockets Podcast 484: 3 Ways to Simplify Your Real Estate Investing with Brandon Turner

BiggerPockets Podcast 449: How Emails Are Constantly Destroying Your Productivity with Cal Newport

Click here to check the full show notes: https://www.biggerpockets.com/show499

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498: Real Deal: BRRRR Deep Dive w/ Joe Asamoah (Pt 1) Aug 26, 2021

Show notes

When most people think about section 8 housing, they think of run-down homes, troublesome tenants, and negligent landlords. This stereotype may prove true in some markets, but for Dr. Joe Asamoah, this is far from reality.

Joe has built his real estate portfolio by renovating homes to an incredibly high standard, situated in some of the best neighborhoods in the DC market, and all while under section 8 housing. Joe figured out early on that section 8 housing authorities gave much more rent money for houses with 5 bedrooms and up, so he started renovating to match the rent section 8 could provide him. This not only allows him to take home a sizable profit, but score tenants who will respect his homes as their own, and stay there for 15 to 20 years minimum. This is no joke, Joe has tenants who have been with him for two decades!

You’ll see a deep dive of Joe’s latest property in today’s episode, complete with pictures, videos, and other helpful visuals. If you’re only listening to this podcast, we’d highly recommend checking out the video version over on the BiggerPockets Youtube channel!

In This Episode We Cover:

What the “Big City BRRRR” strategy entails

How to control tenant turnover so you have ZERO vacancy

Using section 8 to take in higher rents

How to create a top tier product that attracts top tier tenants

Becoming the best landlord a tenant could ask for

Adding bedrooms, bathrooms, and getting permits for everything in between

And So Much More!

Links from the Show

BiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe Asamoah

Rookie Podcast 03: Coronavirus Crash? Do's and Don'ts from Recession Veterans Joe Asamoah and Steve Rozenberg

BiggerPockets Youtube: Big City BRRRR Strategy & Recession Proof Cash Flow Real Estate with Joseph Asamoah!

Check the full show notes here: https://www.biggerpockets.com/show498

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497: Bigger Deals, Better Profits: 10 Steps to Your First Large Multifamily w/ Brian Murray and Brandon Turner Aug 22, 2021

Show notes

We’re back for part two with The Multifamily Millionaire authors Brandon Turner and Brian Murray. This time, Brian is on the mic to give you the ten steps to purchase your first large multifamily property. You may be thinking that these ten steps sound too easy for such a large deal, but that is part of the advice that Brian gives.

Brian wants smaller multifamily owners or even single-family owners to know that buying a large multifamily property is just more volume, not a completely different skill set. If you own one or multiple units right now, you may have more skills than most to take down a 100-unit apartment building or a big mobile home park. The only thing standing in your way is the mindset.

This episode just scratches the surface of what’s possible in large multifamily real estate investing, the rest can be found in The Multifamily Millionaire Volume II. As a reminder, if you purchase before the end of August 2021, you’ll get a four-week multifamily masterclass, taught by Brandon Turner.

In This Episode We Cover:

Why chasing larger deals leads to larger profits

Understanding the skills needed to become a successful multifamily investor

Shrinking your criteria down to a micro-level, not just a macro overview

Starting (or investing in) syndications so you can get into bigger multifamily deals

Capital stacks, debt, and other types of financing when buying large properties

Why underwriting is more than just putting numbers into a spreadsheet

And So Much More!

Links from the Show

BiggerPockets Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian Murray

BiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray

Discover the Multifamily Book bonuses

Click here to check the full show notes: https://www.biggerpockets.com/show497

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496: Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner Aug 19, 2021

Show notes

For the most part, Brandon Turner was able to achieve financial independence through small multifamily investing. This is why investing in duplexes, triplexes, quadplexes, and even 24-unit apartment buildings can be a fantastic learning experience and money maker for new landlords. But how do you get started if you’ve never bought a property before?

Brandon and his co-author of The Multifamily Millionaire, Brian Murray, walk through the seven steps to go from real estate onlooker to small multifamily master. We talk about everything from defining your criteria, financing, management, lead generation, and more. If you’re looking to build a portfolio of small multifamily properties that will allow you to break out of the rat race and do more of what you love (which may be large multifamily), make sure you not only listen to this whole episode but get Brandon and Brian’s new book!

This is a two-part episode series. In part one we talk about small multifamily and in part two we talk about large multifamily, both episodes have crucial information for anyone trying to get into the multifamily space!

In This Episode We Cover:

The difference between small multifamily properties and large multifamily properties

Financial independence vs. generational wealth and understanding which goal you have

Why you don’t necessarily need to start small in multifamily

Defining your crystal clear criteria and knowing what you want

On-market leads vs. off-market leads and the pros/cons of both

Financing small multifamily properties and house hacking

The “multifamily warp” that takes you from newbie investor to multi-millionaire

And So Much More!

Links from the Show

Mike Williams's LinkedIn Profile

Realtor.com

LoopNet

Zillow

Jason Drees's Coaching

Ryan Murdock's Instagram

Micah Cabagbag's Instagram

BiggerPockets Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian Murray

BiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray

Check the full show notes here: https://www.biggerpockets.com/show496

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495: The Science Behind Taking Risks (and Why They Definitely Pay Off) Aug 15, 2021

Show notes

It often seems like the most successful people are the ones who take the most risks. There’s no surprise that at one point, billionaire entrepreneurs were given the choice to either stay where they stood or leap for something greater. This is something that today’s guest, Sukhinder Singh Cassidy, understands. She’s helped lead some of the biggest companies around like J Crew, Stitch Fix, TripAdvisor, and Urban Outfitters (just to name a few).

The one thing that Sukhinder has found throughout her years in Silicon Valley and through writing her new book, Choose Possibility, is that groundbreaking leaders don’t just take one big risk, they take several small ones. This works for real estate investors too. If you’ve just gotten into real estate investing education, the first step for you isn’t to go out and buy a house, it’s to join a meetup, contact an agent, or even join the BiggerPockets forums. These are what Sukhinder calls the “minimum viable choice”. Don’t worry about doing everything, just do something!

Sukhinder gives some great advice on leadership for those in executive business roles, plus how to find talent in this increasingly competitive market. If you’re just starting in your career, take Sukhinder’s advice and do great work for great people, the rest will fall into place.

In This Episode We Cover:

How Sukhinder’s love of entrepreneurship began

“Coconut events” vs. “subway events” (and how you can plan for both)

Embracing uncertainty and calculating your risks

Starting in Silicon Valley and building a strong reputation

Choosing to make the “minimum viable choice” whenever possible

How to know whether you’re managing others or having others manage you

What leaders and business owners can do to attract the best talent

And So Much More!

Links from the Show

Brandon and David’s Books

OpenDoor Capital

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

BiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok

Choose Possibility Website

Click here to check the full show notes: https://www.biggerpockets.com/show495

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494: The Five F-Words Every Real Estate Investor Needs to Master Aug 12, 2021

Show notes

There’s a new three-peat on the BiggerPockets Real Estate Podcast, and no, it’s not Michael Jordan. Danny Johnson, the founder of Forefront CRM, is back with us on today’s episode to talk about the five F-words of real estate investing. Before you jump to conclusions, this is a family-friendly show, the F-words we’re talking about are fear, fundamentals, focus, funnel, and follow up.

Many investors find too few deals, too few motivated sellers, or too few ways to find financing. This is all being said while other investors are closing deals, finding motivated sellers, and getting the financing they need to pursue even more deals. What separates the two from each other? Often, it comes down to the simplest things.

Are you trying to be too creative or are you mastering the fundamentals? Do you know your metrics down to a tee so you can improve upon them? How is your funnel being filled and where are your leads coming through? If leads come through, are you following up or letting them fade away? And lastly, are you pushing past your fear to do any of the above things?

If you feel like you’re stuck, without much of a handle on your real estate business, feel free to try Danny's Forefront CRM!

In This Episode We Cover:

How to create time freedom in a business largely depends on your efforts

Tracking how your team performs their work and continuously improving

Pushing past fear and not allowing laziness to stop your dreams

Understanding the fundamentals and performing them as well as possible

Tracking and reviewing metrics consistently

Knowing the costs to fill your funnel and seeing every phone call as a potential deal

Following up with customers (without being too salesy or pushy)

And SO much more!

Links from the Show

BiggerPockets Podcast 018 : Flipping, Marketing, and Wholesaling with Danny Johnson

BiggerPockets Podcast 144: Getting Out of Your Comfort Zone and Kicking Butt at Real Estate with Danny Johnson

Check the full show notes here: https://biggerpockets.com/show494

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493: How COVID Changed Real Estate Forever (+How it Didn’t!) with Ken McElroy Aug 08, 2021

Show notes

It’s rare to find someone with the experience, knowledge, and downright friendliness of Ken McElroy, which is why we’re having him back on the show! This time, Ken breaks down some of the fundamental truths of real estate investing and how it can help you, as an investor, make more money, reach financial freedom, and live the life you were born to live.

Ken has been in the real estate game for decades, starting as a property manager in college, becoming a landlord with a sizable portfolio, then meeting Robert Kiyosaki and working on books, education, and systems with some of the biggest names in real estate. Ken has been through multiple market cycles, dozens of policy changes from the government, and made lots of money on many different types of deals. He has a unique experience that gives him a leg up on much of the new competition.

You’ll hear Ken’s thoughts on the “affordability crisis” we may be facing in the coming years, how short-term rentalsare changing the landscape of month-to-month rentals, and how an inexperienced investor can get started with “good debt”. Make no mistake, the lessons Ken talks through in this episode took decades to learn, but you can get them all in just over an hour!

In This Episode We Cover:

How COVID did (and didn’t) affect the market for real estate investors

Leveraging “good debt” so you can build your real estate empire

When prices of labor, lumber, and new construction will flatten

What the future of the real estate market will look like, and how landlords can benefit

Working with the system (government, tax codes, etc.) as opposed to working against it

Why great deals will always get funded (especially in today’s market!)

And So Much More!

Links from the Show

Brandon and David’s Books

OpenDoor Capital

Real Estate Rookie Bootcamp

BiggerPockets Podcast 052: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy

Airbnb

Get Ken McElroy's free e-book for BiggerPockets listeners

Click here to check the full show notes: https://www.biggerpockets.com/show493

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492: Robuilt’s Tiny Houses That are Cashing in MASSIVE Profits Every Month Aug 05, 2021

Show notes

Rob Abasolo, AKA Robuilt on Youtube, didn’t have a background in real estate, or construction, or hospitality, or really anything related to his current success. He did have drive, creative thinking, and the will to make something work when other people told him it was impossible.

Rob and his wife moved from Kansas City to Los Angeles, trading a $1,100 mortgage on a house for a $1,800 rent bill on a small apartment. Around this time, Rob started hearing about Airbnb and short-term rental hosting. So, he decided to buy a house, keep his apartment, and try his hand at some Airbnb arbitrage. It worked, and thus the short-term rental revenue model was proven!

Rob then started to Airbnb out the apartment attached to his new home. He was pulling in some solid income, anywhere from $2,000 to $3,000 a month. So what did he do next? He built a “tiny house” in his backyard for around $72,000 and began renting it out for up to $4,000 a month on Airbnb. That’s when Rob thought “what if I built ten of these?”

Now, four years later, that’s exactly what he’s done. Rob has a growing portfolio of short-term rentals all across the United States. From California to Texas, to Tennessee and beyond. But this isn’t the end for Rob. His new plans? Build a massive “glamping” compound on his newly acquired 50 acres of land in Gatlinburg!

In This Episode We Cover:

Airbnb arbitrage and the risk of always going after cashflow

Offsetting your mortgage with short-term (or long-term) house hacking

Airbnb regulations and making sure you’re allowed to host visitors

Building a “tiny house” and the cost associated with it

Funding your deals through HELOCs and partnerships

The new trend of “glamping” and why it may be a massive opportunity

And SO much more!

Links from the Show