BiggerPockets Real Estate Podcast

462: The 5 Fundamentals That Lead to $35M of Real Estate in 1 Year with Terrance Doyle Apr 22, 2021

Some would call Terrance Doyle a “baller”. Not because he’s done hundreds of millions of dollars in real estate transactions, or because he has done over 600 flips, or because he helps lead the Tribe of Multifamily Mentors. Terrance played college basketball, which grew into working as an NBA sports agent, garnering him access to famous coaches, players, and executives.

Terrance and a couple of his college teammates started a franchise after college, and needed somewhere to park cash. Another teammate helped Terrance buy a foreclosure at a public trustee sale, which he flipped for a sizable profit. This is when he knew that the real money was made in real estate. Between 2008 and 2014, Terrance did over 600 flips, in multiple different areas of the country.

As he learnt to build relationships and rapport with buyers, sellers, lenders, and contractors, Terrance started taking on bigger and better deals. He’s done $35,000,000 in transactions since the start of the pandemic and relies on the five basic fundamentals of real estate: know your market, be aggressive, be faster than the competition, have solid lenders, and make sure your ducks are in a row.

In This Episode We Cover:

The 5 fundamentals of successful real estate investing
Going from NBA agent to full-time real estate professional
Finding your competitive edge and knowing where you can add value
How to invest in a very expensive market (like Denver!)
Cap rates, NOI, cash on cash return, and other important metrics
How to run your organization more efficiently, so you can do more
And SO much more!

Links from the Show

Check the fulls how notes here: http://biggerpockets.com/show462

461: Defeating the "Enemy of Success" with Steven Pressfield (The War of Art) Apr 18, 2021

It’s daunting to wake up every day and try your best at whatever it is that you do. Maybe it’s your job, maybe it’s real estate, maybe it’s writing a book. When you sit down at your desk, there’s that little voice that says “get another cup of coffee” or “just take a little email break before you start” or “you’re not going to get anything done, who are you kidding?”

This is the voice of resistance, and to author Steven Pressfield, it’s a voice that needs to be silenced and controlled at all costs. Steven should know, he wrote the book on fighting resistance, The War of Art, where he talks about how to keep up inspiration, even when there isn’t any to be found. As Steven puts it “an amateur does things when they feel like it, a professional doesn’t care how they feel, they just do it.”

This is something many real estate investors struggle with. We want to buy another property, but we get stuck in analysis paralysis, or scared off by some new type of financing, or don’t want to take on another rehab. Professionals don’t let their environment (or their own mind) tell them what they should and shouldn’t do. Professionals do what has to be done.

We also talk with Steven about his latest book A Man At Arms and why the ancient world of nobility and strength intrigued him so much. If you’ve seen any of Steven’s films, read any of Steven’s books, or just want to push through to success, you’ll love his take on writing, success, and failure.

In This Episode We Cover:

How to push past failure, regardless of the line of work you’re in
Overcoming the “analysis” phase of any new venture or life dream
How resistance plays a role in failure for many real estate investors
How to fight resistance so you can push through to your goals
The villain on the outside, and the villain within you
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show461

460: From Sleeping on a Couch to Owning 20 Units (in 2 Years!) with Robert Charles & Ayoka Moss Apr 15, 2021

If you’re listening to the BiggerPockets podcast, you know that the only way to reach financial success is to climb the corporate ladder, right? Nope! Yet, many people still believe that the only way for them to get rich is by going above and beyond for a job, only to be let go when the company is sold or merged. This is exactly what Ayoka Moss and Robert Charles thought, until they were put in a situation where entrepreneurialism and real estate was the only option.

Ayoka had serious drive, especially after reading Rich Dad Poor Dad (a favorite of the BP community). Robert, on the other hand, was working as hard as he could, selling cars, breaking sales records, but once he was let go due to his company being bought out, he had open ears for Ayoka’s proposal. Ayoka and Robert decided to start wholesaling real estate, and had 6 failed deals before they finally found themselves making a profit. Once the money came in, they knew they had to do whatever it takes to reach success in real estate.

Now, only a couple years later, Ayoka and Robert are living rent free, with 20 units, and 35 deals done! That’s some serious change when compared to their old W2 lifestyles. Ayoka and Robert go through how they got deals done, found mentors, and most importantly, changed mindsets to tackle what really matters.

In This Episode We Cover:

How real estate wholesaling works
Why the corporate lifestyle doesn’t last forever for most people
Understanding real estate before you jump in head first
“Un-Labelling” yourself so you can accomplish anything
Balancing wholesale fees with cash flowing rental properties
Finding mentors and providing value so they trust you
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show460

459: The Superpower of Listening: Get More Out of Your Conversations Apr 11, 2021

Have you ever been in a conversation where someone has had to ask you to repeat something multiple times? It’sfrustrating when you’re trying to tell someone something and they just won’t listen, but what about all the times you’ve been distracted in a conversation? There are a handful of reasons why humans aren’t great at listening, but the benefits to becoming a true listener are off the charts. Better connections, more trust, and happier relationships just to tout a few.

In her book, Listen Like You Mean It, Ximena Vengoechea talks about why listening is so important, and why we often get it wrong. Being a great listener is almost like having a super-power, you’ll be able to tell what a person wants and needs faster and more accurately. This can help in almost any business, but especially in a people-first business like real estate when you’re constantly talking to tenants, management, sellers, buyers, or agents.

Ximena goes through the 3 qualities that are most needed when becoming a great listener and how you can put yourself into “listening mode”. She also walks through how to have difficult conversations or conversations with people who aren’t the best listeners, plus what you can do to make sure that the person talking to you really feels heard. This isn’t just a crucial trait for anyone in real estate, but for anyone who wants successful relationships with the ones they love.

In This Episode We Cover:

How user research prompted Ximena to write about listening
Asking good questions that help people open up more
Cutting out the distractions and being present and mindful in a conversation
Why attention tends to waver in day-to-day conversations
The 3 most important qualities you can adopt to become a better listener
How to be more extraverted in conversations
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show459

458: Ditching "Active Investing" for More Passive Income Streams with Tamar Hermes Apr 08, 2021

Every real estate investor knows that things don’t always go as well as we’d like. What happens when you’re hit with a $16,000 bill to fix a sewer, or when 20 of your tenants call you all at once with problems? Some things, like those examples, make active real estate investors envy passive investors. This is why Tamar Hermes decided to go on a more passive route for real estate investing.

Tamar started at age 28, working as an executive in the television industry. She realized that she was trading her time for money, and without her job, she wouldn’t be able to pay her bills. So, she put 10% down on a duplex and started house hacking. Over time she bought more and more duplexes, some even out of her 401(k). She was an aspiring landlord, but after being hit with the situations above, she decided to sell all her units in Los Angeles and put her money into more passive income streams.

Now she’s invested in syndications, like Brandon’s Open Door Capital to be exact. This gives her far more freedom to pursue her passions in life, without having to worry about those 2 A.M. toilet calls. Tamar refers to herself as a very cautious investor, and that may be why she feels far more diversified with passive investing than active investing.

She also talks through “finding your tribe” and how Gobundance has helped her meet friends and partners within the real estate space. This doesn’t mean you need to go out and find a group, but having friends and allies within your certain niche can help move you miles ahead of the competition!

In This Episode We Cover:

Using house hacking as a way to fuel your real estate investing
The difference between passive and active real estate investing
Finding cash flow AND appreciation when looking for rental properties
“Upgrading your investing” and growing your investor mindset
Recourse vs non-recourse loans
Finding quality agents, certified financial planners, and other partners
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show458

457: How Thinking 5 Moves Ahead Can Make You Millions with Patrick Bet-David Apr 04, 2021

Some people are born into wealth, but none are born into success. Success needs to be earned, through pain, hard work, and perseverance.

Patrick Bet-David came to the United States during the Iranian Revolution of 1978, after already being a refugee in Germany. Patrick served in the U.S. Army and prided himself on his ability to party, but after a family health emergency, he decided enough was enough, and he became the hard-working, driven man he is today.

Now, a successful businessman, media producer, best selling author, and CEO, Patrick has a lot of wisdom to share for young and aspiring businesspeople. One of his biggest lessons: don’t waste your pain. Patrick shows how the best of the best in business, sports, or any other field are consistently putting themselves in positions where they have to fight to be the best. Patrick argues that even if you’re the best basketball player in your high school, once you go to college you may be at the bottom of the list, and once you become the best in college, you may be stuck again at the bottom of the professional leagues. This means you have to constantly change, adapt, and improve yourself to become the best of the best.

We also talk about Patrick’s book, Your Next Five Moves and how people who are masters in their skillset are thinking at least five moves ahead of their competition. Want to buy a house? What are the next 5-10 moves you could make right now to get that done. Most people do a single step, stop because it’s too hard, and leave it at that. If you want to be the best of the best, you need to think bigger and understand the importance of the sequencing of those steps.

In This Episode We Cover:

Patrick’s journey from refugee to multi-million dollar business owner
Pushing yourself to perform at the highest level you possibly can
Giving your children values instead of material gifts
Thinking five steps ahead of yourself and the competition
Going through a “Personal Identity Audit” and learning to accept yourself
Entrepreneurship vs Intrapreneurship
And So Much More!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show457

456: 126 Multi-Family Units On a Military Salary with Erika Sleger Apr 01, 2021

Anything over 100 units tends to scare many investors, especially rookie investors. How do you even get to 100 units when it’s already challenging enough to get one? That answer is simple: stack them slowly over time. That’s exactly what today’s guest, Erika Sleger, did. Erika heard about house hacking from a lecture in college, so once she graduated she decided to buy a fourplex, live in one unit, and rent out the others.

She learnt some valuable skills from that first fourplex and later sold it for a nice profit, 1031 exchanged it into an 18 unit, and started collecting rent. From there, she used her equity on the 18 unit to buy a 64 unit. Another 16 units here, some more units there, and before she knew it Erika had over 120 rental units. She acquired all of these properties through 1031 exchanges and pulling cash out via refinances for down payments.

Managing over 100 units isn’t easy, it took Erika a while to find management that worked, and she was still managing her managers. Even with the best due diligence, Erika talks through the challenges of filling and managing so many units. That’s why Erika sold her multifamily properties and moved her money into commercial real estate.

Now she owns “amazon-proof” commercial spaces for coffee shops, a daycare center, and even a car maintenance shop. These leases are triple net, and give her the flexibility to move wherever she wants in the world, without having to over-manage a property manager. This is what “the stack” done correctly looks like!

In This Episode We Cover:

House hacking to secure your first rental property
Using 1031 exchanges to acquire more properties with no capital gains taxes
Buying LARGE multifamily properties and setting up management
The importance of due diligence when buying multifamily and commercial
Triple net leases and the benefits of commercial buildings
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show456

455: Mixtapes to Millions in Real Estate with DJ Envy and Cesar Pina Mar 28, 2021

You’ve probably heard of The Breakfast Club, the morning radio show in over 90 markets that covers everything from hip hop culture, to celebrity gossip, to politics and more. If you've listened, you may recognize DJ Envy’s voice. He’s here today with his partner Cesar Pina, to talk real estate, seminars, and business.

DJ Envy grew up in Queens, New York, and was neighbors with a successful DJ. After he heard how much money DJs were making in the city, he decided to start DJ-ing himself, and began releasing mixtapes. As his success grew, he started working for a radio station and landed a morning show, which later became known as The Breakfast Club.

After buying his first house and later selling it due to a long commute, Envy walked away with around $80,000. He was hooked, and knew that real estate was a long-term way for him to build his wealth and create success for him and his family. He started out buying a house every year and selling it a year later, then bought some homes in Detroit for $15,000 that sold for over $260,000! Envy wanted to get more into real estate, so he was introduced to Cesar.

Cesar was serving time in prison when he first learnt about real estate investing. Once he was released, he decided to jump in. He bought single family homes, then small multifamily homes, then went on to commercial buildings. Now, heowns more than 1,600 units and flips anywhere from 60 to 80 houses per year! His new book, Flipping Keys, comes out later this month.

Cesar and Envy became an unstoppable duo, and now they're teaching others how they too can buy rentals and flip houses. They see this as a way to serve their community and let those who may be unaware of real estate investing have a chance at success and financial freedom.

In This Episode We Cover:

How DJ Envy started buying and flipping homes
Buying homes under market value to make high profits
Why house hacking is the best way to get started in real estate
Buying in Detroit during the early days of the recession
How to use other people’s money (OPM) to fund your deals
Why most real estate seminars take more than they give to attendees
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show455

454: Retiring in 2 years Through “Aggressive” Rental Property Investing with Rachel Richards Mar 25, 2021

Retiring via passive income is why most people get into real estate, but rarely does someone accomplish that goal within just two years! Rachel Richards, real estate investor, agent, and author of Money Honey shares her story of aggressive real estate acquisition. All purchased, by the way, with at least 20% down!

While her friends in high school may have been reading for fun, Rachel was reading Rich Dad Poor Dad and trying to find the best way to become financially free. After she graduated from college she took jobs where she felt underappreciated and at some points, humiliated. She realized that this was not the path she would go down, and started investing shortly after in 2017. By 2018, Rachel and her husband had acquired 38 doors. Yes, you heard that right, 38 doors in under two years!

These rental properties allowed Rachel and her husband to retire, as they were making six-figure incomes solely from their properties alone. This didn’t mean two years in she was still a rookie. Far from it actually. Rachel had to systematize her rental properties as much as she could within those two years so she could manage them long distance without having huge headaches along the way.

Rachel shares some interesting stories, from turning a duplex into a short-term boarding home, to catching her property managers stealing over $6,000 from her. She’s learnt a lot and put her knowledge into her books Money Honey and Passive Income, Aggressive Retirement, both of which may help you get to where she’s at now!

In This Episode We Cover:

Understanding how important financial independence is to your life
Dismissing limiting beliefs that you can’t or shouldn’t do something
Seller concessions and how you can use them to get more money at closing
Why being too frugal may lead you to lose more money in the long run
Systematizing your long distance real estate investing
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show454

453: Live Q&A with Brandon and David: Risk, Partnerships, Inspiration and Opportunity of Real Estate Mar 21, 2021

We’re taking a bit of a detour from our regular programming to answer some live questions on real estate mindset! Brandon and David take live questions from investors across the nation on some of the most hard-hitting/commonly contemplated real estate questions and topics such as…

Is perceived “risk” deterring you from making strong financial decisions?
How do you keep the fire going as an agent and investor when you get rejected?
When should you allow team members to take on your roles and processes?
What to do to get over the fear of partnerships?
How do you balance ambition and being content with your success?
How to find inspiration in other people's success?
What to do when there is SO much opportunity but you don’t know what to choose?
And More!

Brandon and David spend some time answering all of the above questions with life lessons they’ve learned in their investing careers. The solution to the problem isn’t always cut and dry, but almost all of these questions come up in a real estate investor’s career, one way or another.

If you didn’t get your question answered in this episode, stay tuned as we may plan to do another Live Q&A in the future!

In This Episode We Cover:

Answers to the top real estate “mindset” questions
Finding your fire and running towards it
Letting go of the “I have to do everything” mentality
Focusing on one thing, doing a great job, and letting go of the rest
Getting your spouse on board for real estate investing/financial freedom
Staying content and grounded while also striving for greater things
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show453

452: Landing Incredible Deals Using This “Scary” Technique with Steve Trang Mar 18, 2021

Steve Trang is all over social media, he runs a real estate brokerage, a sales training business, and a title company, but he didn’t start out as a real estate professional. Steve was actually an engineer at Intel before he made the leap to become an agent. As luck would have it, Steve got in right as the market was about to tank in 2007/2008. Did this stop him from finding success? Of course not!

Steve was interested in real estate, and after finding out what agents did for a living, he knew he needed to make a career switch. He left his corporate job and headed into real estate, trying to get any leads he could as an agent. His prior employer, Intel, told him that he was welcomed back if he ever needed a job, but when he tried to come back a couple years later, they didn’t have a position available for him. He knew the bridge was burnt, and it was time for him to go full throttle on real estate.

Now, a decade or so later, Steve is teaching his tips and tricks to aspiring agents, wholesalers, and de al finders alike. He has a very specific hiring process, and will only start to evaluate a candidate that fits into his time-tested requirements. This helps him weed out potential employees and keep only the serious ones around.

Steve gives some pointers on the best cold calling tips, the common mistakes that newbies make, and how to mitigate rejection when a cold call goes sour. If you’re afraid to cold call or afraid of being rejected in general during real estate prospecting, Steve talks through how he uses rejection to hit the successful metrics he needs!

In This Episode We Cover:

What type of person should be a real estate agent?
Knowing that real estate is a long-term success game, not an overnight win
Using PPC (pay per click), direct mail, and cold calling to get leads
How to hire employees that want success, not just a paycheck
Having regular, but efficient meetings with your team
The top cold calling tips for those who are prospecting
What to do if you’re afraid to cold call (or afraid of being rejected)
And SO much more!

Links from the Show

Check the full show notes here: biggerpockets.com/show452

451: Stop Chasing the “False Summit”: Have Better Relationships and Results with Michael Hyatt Mar 14, 2021

Does it ever seem like working overtime is a competition? We often see people bragging about how they work 60 hour weeks, work on weekends, or spend the most time at the office or in front of their computer. Does this constant overworking actually accomplish something or is it more of a chest-beating competition?

Michael Hyatt argues that working crazy hours rarely does anything for our productivity, and if anything, can make our work sluggish and dull. He should know, in the beginning of the COVID-19 pandemic as teams were working more than ever from home, Michael decided to do the opposite. Michael lowered his (and his team’s) working hours from 40 hours a week, to 30 hours a week. The result? A profit increase of nearly 100% and company-wide productivity boost.

Not only does your work quality benefit, but so do your relationships, your health, and your outlook on life when you are off of the “grind mode”. Michael believes this so much that he wrote a book about it. Win at Work and Succeed at Lifegoes through what Michael calls the “double win”: winning at life and work, with no tradeoffs!

Michael lists a handful of ways you can instantly improve your work/life balance. Tips on sleep, nutrition, and getting your “daily big 3” done so you can accomplish goals that matter, instead of just being productive. If you ever feel like a workaholic, these tips will help you align back to a productive yet enjoyable schedule.

In This Episode We Cover:

Fighting the “cult of overwork” especially when working becomes a bragging right
How to keep your business running at full speed while having time for your family
The importance of putting up “hard boundaries” so your day can be respected
Identifying the “big 3” tasks that you need to get done everyday
How to implement “double wins” in your life
Knowing which work is important and which work can be put on hold
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show451

450: How Your First Time Home Buying Decision Affects Long-Term Wealth with Scott and Mindy Mar 11, 2021

First-time home buyer? At some point, all of us were. How do you make sure you’re getting a great deal, how should you pay for it, and what can you do to make sure it’s a purchase that will help you grow your wealth. In today’s episode, you’ll hear from Scott Trench and Mindy Jensen, hosts of the BiggerPockets Money Show. Their new book, First-Time Home Buyer, shows how to buy your first property in a way that sets you up for long-term success.

Most people see their primary home as an investment, but that isn’t usually the truth. Housing is a cost, and like many costs in life, we should try to minimize it when we can. Having a lower housing cost can allow you to invest more of your money, build up safety reserves for repairs, and have the financial bandwidth to live with less stress.

Scott and Mindy debate cash flow vs appreciation, how much you should put down on your home, and what kind of liquidity position you need to be in to find success in your purchase and future endeavors. Even if you’re not looking to build a rental empire, this is a fantastic book for anyone who is looking into buying for the first time. Don’t know about equity, title insurance, or other real estate terms? No problem! First-Time Home Buyer has you covered.

In This Episode We Cover:

What will 2021 hold for real estate investors and first-time home buyers
Is appreciation or cash flow a better metric to measure
How to have a primary residence that sets you up for long term wealth
The 5 steps to finding a great deal on a primary residence
Looking at the market even when you’re not ready to buy
What people get wrong when they buy a home
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show450

449: How Emails Are Constantly Destroying Your Productivity with Cal Newport Mar 07, 2021

We’ve known for a long time that humans aren’t great at multitasking. Once distracted, our brains find it hard to let go of the new information we’ve just learnt or seen. This is why the constant onslaught of emails, messages, texts, and phone calls could be killing our productivity and creativity. Cal Newport, author of A World Without Email, has seen this first hand.

Cal discusses something he likes to call “Hyperactive Hivemind Workflow”, which is essentially what happens to our brains when we’re constantly being nudged by electronic messages. When you’ve got your head down and are working hard on an important project, just a simple glance at an email can spin everything out of whack.

Here’s the thing, this is happening to all of us, all the time. We are constantly monitoring our emails and messages, and by the mid afternoon, we’re out of energy. We’ve exhausted all of our cognitive resources. But isn’t it productive to check emails and respond to them quickly throughout the day? This is what Cal refers to as the “fool’s gold of busyness”.

Luckily, there are some ways to get us into a more productive state, without having a barrage of emails in our inbox. Cal talks about efficient meetings, Kanban boards, restricting ad hoc communication, having office hours, and being intentional with your time and attention. While these small email responses may seem like just a minute here or a minute there, they actually eat up a huge part of our work life.

In This Episode We Cover:

Why we need to limit our intake of email, messages, and other communication throughout the day
Getting your team to be less ad hoc about communication and more intentional
Having a “process and procedure first” mindset when starting a business
Understanding what the “vital tasks” are in your business
Knowing your cognizant footprint and having intentional attention
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show449

448: The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion Mcneeley Mar 04, 2021

Busy people tend to be...busy, and often, real estate investing is one of the things that they “just don’t have time for”. If you feel that way, listen to today’s guest, Dion Mcneeley as he describes his own system for buying real estate the “lazy” way.

Dion was a police officer and a truck driving instructor, taking care of his kids as a single parent, and struggling to get ahead. He went from $89,000 in debt to becoming debt free and financially free, thanks to the help of rental properties, in just 10 years.

After buying his primary home, Dion heard of success in owning rental properties, so he decided to move out of his house and into an apartment to see if he fit as a landlord. He rented the house to his friend, who later moved out without notifying him. Dion tried to make landlording work with another tenant, but ended up being underwater on the house payments. This is when he found BiggerPockets and read Rich Dad Poor Dad.

What was Dion’s mistake? He wasn’t running his rental properties like a business. After upgrading his processes, he went on to buy and house hack a duplex. Then he bought another duplex as an investment, and another one, then another house hack duplex. Within just 6 years, he had 7 units and was raking in $2,700 a month in pure cash flow!

Dion talks about the mistakes he made, why he prefers side-by-side duplexes, how he’s located his properties for maximum asset protection, and goes into his amazing strategy for getting tenants to sign longer leases and raise their own rents. You can check out Dion’s Youtube channel or find him on the Real Estate Rookie Facebook Group!

In This Episode We Cover:

Why being lazy can be a benefit when building systems for real estate
How to use your job and your rentals to achieve a 100% savings rate
The benefit of side-by-side duplexes as opposed to two-story duplexes
Making sure that your procedures are easy so they can be repeatable
Getting tenants on longer leases and higher rents with the “Binder Strategy”
Spacing out rentals so you have a large pool of tenants to choose from
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show448

447: Create Your Dream Life in 3-5 Years Using Vivid Visions with Cameron Herold Feb 28, 2021

What do you want out of life? What do you want to accomplish in the next 3-5 years? When asked this question, most entrepreneurs give a pretty simplistic answer. Something like “Oh, we’ll get more clients by this time next year” or “I’ll buy two more houses and then I’ll be happy”. How often do we sit down and paint a picture of what we want our life to look like? Today we’re discussing Vivid Visions with their creator Cameron Herold.

Cameron is a veteran in the business world, he likes to say that he was “groomed” by his entrepreneurial grandparents and father to become a success story. By the time Cameron was 21, he had a full-on business that had 12 employees, and at 22 he bought his first rental property. He later became a franchisee for College Pro Painters and was so successful that he went on to coach new franchisees.

He’s partnered with hundred-million dollar companies, grown and sold businesses for millions, coached the CEO of Sprint, a monarchy in the middle east, has written 5 books, and runs the Second in Command Podcast, where he talks to successful COOs. Cameron is someone who clearly has accomplished a lot and has a TON of wisdom to share.

Cameron has serious knowledge on business management and talks about the importance of the CEO and COO relationship. Cameron describes how a COO needs to be a partner to the entrepreneur (the CEO) and operate as the ying to the CEO’s yang. If you’ve heard the terms “the visionary and the innovator” from books like Traction, this is exactly what Cameron is talking about.

If you’ve been wondering where the idea of a “plan” or “vision” comes into play, Brandon, David, and Cameron all discuss their “Vivid Visions” and how it’s led them to success in their life. Cameron coined the term “Vivid Vision” because most entrepreneurs were simply writing down a 1-2 sentence mission statement instead of creating a vision of what they wanted their company and future to look like. This vision not only helps you build a life you want by design, it also entices great executives, employees, and partners to join you on your path to that clear and decisive “Vivid Vision”.

In This Episode We Cover:

How Brandon found out about the “Vivid Vision” and how it has changed his worldview since creating one
Why Cameron decided to coach COOs as opposed to CEOs
The importance of having a COO or 2nd in command that you trust and believe in
Why your job postings should scare those who aren’t ready to take risks and grow
Why entrepreneurs have such a hard time when letting go
How to create your “Vivid Vision” in 7 steps
What a great “Vivid Vision” looks like, what it includes, and how to structure it
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show447

446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren Clugston Feb 25, 2021

Have you ever had analysis paralysis? Maybe you have it right now and that’s why you’re listening to this episode! Kyle and Lauren Clugston would call that “productive procrastination”, and the only way to get out of it is to move forward! They should know, it took them over 3 years before they made their first move in real estate investing!

In college Lauren stumbled upon Brandon’s old blog about real estate investing. As she read, she gained more confidence in the craft, and knew that real estate was what she wanted to do with her money. She then started trying to convince her partner, Kyle, that real estate investing was the way to go. As someone without an investing background, Kyle was hesitant, but took a leap of faith which paid off!

Now they're BRRRR-ing their way through New Jersey, with single family and multifamily properties throughout the state. Lauren and Kyle had to learn a lot before they became the real estate success stories they are now. Things like doing inspections, estimating rehab costs, getting financing, setting up systems and procedures, and getting legal documents prepared were at one point a great challenge to Lauren and Kyle. Now, they’ve got them down!

Lauren and Kyle lay out everything they wish their former selves had known, and go through the things that early real estate investors should worry about, and the things they definitely shouldn’t lose sleep over. This advice could save months, weeks, or hours off of your deal analyses and might be just the thing you need to get out of analysis paralysis!

In This Episode We Cover:

Why house hacking is such a great strategy for new investors
Focusing on the right metrics, whether it be cashflow or units
Defining your specific roles as partners and investors
The importance of weekly meetings with your team
Setting up your real estate to run like a business, not just a hobby
How to put together an “invest with us” packet for private lenders
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show446

445: When to Quit Your Job and Pursue Your Dreams with Rapper Manafest Feb 21, 2021

The BiggerPockets podcast has quite a diverse group of guests that come on the show. We’ve had writers, speakers, businesspeople, and actors, but this may be the first rapper we’ve had with us. Chris Greenwood AKA Manafest is in the studio, and instead of recording beats, he’s recording the best lessons he’s learned through his music career, real estate investing, and online business.

Chris started out like many of us, working a stable job for a large corporation. After years of doing music on the side while working his full time job, he decided to take the jump and make rapping and rocking his career. Chris is the first to admit that this may not have been the best financial decision, and staying on the job for a little while longer could have relieved him of a lot of headaches. That being said, Chris didn’t just survive, he actually thrived in the music scene.

When Chris and his wife decided to move out of their condo to upgrade to a larger home, they brought up the idea of renting out the condo instead of selling. This opened Chris up to the world of real estate investing, and as he saw the checks start to come in, he realized that this was a money maker that could help bring in stable income, passively while he worked on his music.

Now Chris owns various properties and mainly buys from turnkey companies. Brandon, David, and Chris all have their own opinions on turnkey real estate investing, but they all agree on one thing: for those that don’t have much time to be an active investor, it’s a great way to start or stack up rental properties.

Aside from rentals and rapping, Chris developed his own online course to teach other musicians how to successfully market their music in an industry that has such a high barrier to entry. Chris talks through how he separated himself from all the other “course gurus” and how you too can serve as an authoritative figure in your own community with knowledge, experience, and perseverance.

In This Episode We Cover:

How Manafest got his start in music (and why he made the jump to full time)
The struggles and benefits of working a full-time job and pursuing your dreams
Renting your primary residence instead of selling when you move out
Not getting sucked into the “you’ll have to fix toilets” fear of real estate investing
Turnkey rentals and why they may (or may not) work for your investing strategy
Having the drive to help people before you ask for money or a sale
Chris’s book From Red to Black
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show445

444: 150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-Johnson Feb 18, 2021

It seems like young real estate investors get more and more impressive every week. Today we talk with Cole Ruud-Johnson, a wholesaler and flipper out of the Seattle area. The impressive part? He’s 22 years old and has done 150+ deals to date! Even at 22, Cole’s journey wasn’t a linear path, he had lots of ups and downs to get him to the level of success he achieves now.

Cole tried to be a real estate agent at 18, but wasn’t getting the hang of it. After failing at a couple of real estate brokerages, he entered into a third and learned how they were creating their own inventory via cold calling. He decided he’d give this a try, and partnered up with his friend to cold call for deals.

After three months, an agent brought them their first off-market deal. This first deal alone netted them $105,000. Yes, you read that right, six-figures on ONE wholesale deal. This wasn’t enough for Cole, he knew he had to get back out there and work on getting his next deal.

Cole’s small business grew to a small empire, but over time this pushed him into a massive burn out. He had to make some BIG changes in his business, many of which even business veterans wouldn’t be comfortable doing.

Now he’s here with us on the podcast, talking through his lean team, his deals, his systems, and how new wholesalers can start getting deals. Cole even throws in the script he uses to get wholesale deals over the phone, so if you’re thinking about getting off-market deals or starting your wholesaling journey, this is the episode for you!

In This Episode We Cover:

How wholesaling and off-market deals can net big profits
Why you need to be consistent when cold calling
The script that Cole uses to get off-market and wholesale deals
How to scale your business (and prevent massive burnout)
Growing slowly to scale, instead of fast and crashing
The types of lists that Cole and his team pull
Keeping the flow of communication open between you and your partners
Taking action instead of just taking in information
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show444

443: 10 Ways to Learn Anything Faster with Jim Kwik Feb 14, 2021

During childhood, Jim Kwik experienced a traumatic brain injury. As a result, he lacked focus in school, wasn’t able to read properly, and at one point, a teacher told him that he had a “broken brain”. So how did a kid with a “broken brain” become the leading mental coach for athletes, CEOs, and movie stars? Simple: Jim looked into how to learn instead of what to learn. Soon enough, Jim was reading faster, memorizing with higher accuracy, and doing well in school.

His friends asked him for some tips so they could improve their grades as well. With some success in his inner circle, he decided to make a flyer for speed reading and memory improvement classes. He put up the flyer at his college hoping one or two people would show up to his impromptu class. Over 100 students showed up, of which 71 signed up for a full course with Jim. After that, Jim knew it was his life mission to help those who wanted to learn, memorize, and live better.

So why is it so hard for some people to memorize things? We forget details all the time, whether it be names, addresses, phone numbers, or other important information. Jim goes through a simple method to memorizing any piece of information, called the M.O.M system. He also outlines 10 tips for a limitless brain, many of which you can implement soon after you finish this episode!

Even something as simple as reading slightly faster can allow you to save weeks worth of time each year. So if you’ve been beating yourself up over forgetting that one seller’s name, check out Jim Kwik’s podcast and his new book Limitless. As Jim puts it, increasing your memory and reading power not only adds years to your life, but life to your years!

In This Episode We Cover:

How Jim recovered from a traumatic brain injury as a child
Why school teaches us what to learn, but not how to learn
Increasing your reading speed so you can finish tasks faster
How to remember important things like names, addresses, and phone numbers
The 3 keys to a better memory
The 10 tips for a limitless brain (including diet, exercise, and learning)
How to learn anything faster (no matter what it is!)
And SO Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show443

442: Taking "Bite-Sized Steps" to Go from Broke to $20,000/Month with Bryce Stewart Feb 11, 2021

Hearing Bryce Stewart’s story may sound familiar to long-time BiggerPockets Podcast listeners. That’s because Bryce was on Episode 276 where he gave the great metaphor “vacuuming out the truck” relating to real estate investments.

Bryce is back to talk about being a great mentor/mentee, what every contractor needs before working on a rental, how to go from active to passive real estate ownership, and his new book House-Hacker’s Guide To The Galaxy.

Bryce understands what it’s like to be a new investor. Every step seems hard, the end result seems almost impossible, so where do you even start? Simply, take a step forward, no matter how small it is. Even just starting to save a few hundred bucks a month can be your first step towards becoming a real estate investor.

As time goes on, these small steps become giant leaps, and what seemed impossible at first, can now be doubled since you have the know-how. Bryce takes us back to a time where he didn’t know how to get his property taxes lowered, but through very incremental steps was able to make a case and save himself thousands of dollars in the long run.

Looking for a mentor? Stick around to hear Bryce’s top piece of advice for any new real estate investor. This simple tactic can help beginner investors know more about what they’re getting into and also show the mentor they’re serious about their new interest.

In This Episode We Cover:

Why small steps can lead to massive leaps in real estate investing
How to go from an active to a passive investor
Why newbies should know what collateral is and how it affects their loans
What every contractor needs to have before they work with Bryce
A specialized and creative new BRRRR strategy
What you can do to get your foot in the door as a real estate investor
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show442

441: House Hacking as an NFL Player? How Former Tight End Hakeem Valles Grew His Real Estate Portfolio Feb 07, 2021

When most people think of professional athletes, they usually think of superstars being paid millions every month (or even every week). Most people don’t come to realize that for everyone on an NFL team, that pay grade isn’t as high. That too, is what Hakeem Valles found out after being signed on by the Cardinals.

Hakeem wasn’t making a lot, and realized that he was essentially throwing away $2,000 a month on rent. After one season with the team, he decided to go on BiggerPockets and ask around for agents and leads in the area. Hakeem ended up with a LOT of responses and found a great agent who helped him close on a fourplex, which he house hackedwhile practicing with the team.

It’s hard enough to house hack when your tenants know you’re the owner, but it can be even harder when your tenants know you’re an NFL player. Hakeem’s advice: be a tenant of your own property and don’t let the other tenants know that you own the place. Doing this can help reduce some awkward encounters you may have.

After retiring, Hakeem went on to do bigger real estate deals and partnered up on a 40 acre farm! He also owns Perspective Global Media, where he counsels other real estate professionals on how to grow their reach through social media platforms like TikTok and LinkedIn. Hakeem drops some gems towards the end of this episode on how you too can use TikTok to gain followers, clients, and partners!

In This Episode We Cover:

Why even professional athletes need to have multiple streams of income
How a shocking event in Hakeem’s life changed his outlook forever
Fighting income creep and keeping expenses low
When renting does and doesn’t make sense for your financial situation
The biggest mistake Hakeem made when living in his fourplex
How to fight the fear of getting into real estate (and making mistakes)
Using social media to leverage your personal brand and grow followers and clients
And So Much More!

Links from the Show

Books Mentioned in this Show:

Rental Property Investing by Brandon Turner
The Go-Giver by Bob burg
The 1 Thing by Gary Keller

Click here to check the full show notes: https://www.biggerpockets.com/show441

440: How a 25 Year Old Bought $1M of Real Estate in 1 Year with Daniel Iles Feb 04, 2021

Believe it or not, TikTok isn’t just teenagers doing dances; there are actually some pretty influential investors on the platform. Meet Daniel Iles, a TikTok and Youtube creator who bought a staggering $1,000,000 in real estate during his first year of investing. Daniel was able to amass this serious sum of real estate while only putting $23,000 down. Now that’s impressive!

Due to an aggressive goal of reading 60 books a year, Daniel picked up a book that many of our listeners have heard of, Investing in Real Estate with No (and Low) Money Down from our very own Brandon Turner. This unlocked the potential of investing in real estate for Daniel. He took advantage of FHA loans, using equity as down payments, and building his credit to get loans from small credit unions and banks.

Daniel now owns 9 units and a combined valuation of almost $1,500,000, still with almost no money down. Daniel stresses that his success comes from systems. Whether it’s systems about credit cards, loans, tenant management, deal analyzing, or anything else related to real estate investing, systems are the key to keeping your sanity when things go wrong.

He also has some tips for new investors trying to acquire a lot of real estate, in a small amount of time. Creating these systems for scaling will allow you to make smart decisions and invest in a way that doesn’t push you to burn out.

In This Episode We Cover:

Using TikTok as a creator, not a consumer, to connect with influential investors
How Alaska real estate compares to continental United States real estate
Securing houses with low or no money down
Using equity in a house as the down payment
Why small banks and credit unions may be more flexible when funding deals
What Daniel looks for in his rental properties
Tenant management systems for simpler investing
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show440

439: How Are You Marketing Yourself? with BiggerPockets Producer Kevin Leahy Jan 31, 2021

Last week’s show with Marie Forleo was so good that Brandon and David are back with a special guest, BiggerPockets’ senior producer Kevin Leahy, to unpack all the wisdom from the “figureoutable” show.

Kevin learnt about Marie Forleo though his wife suggesting he take some of her advice when transitioning into his current position at BiggerPockets. A simple trick from Marie helped Kevin make some big decisions: see if your body expands or contracts when you think about two different options. This trick, along with her insight on writing your options down in order to take a step back from your situation, has helped Kevin make some hard decisions.

If you listened to last week’s show, you’ll remember that Marie touched on how important marketing is in any industry. Whether you’re a real estate agent, a buy and hold investor, or a flipper, you have to be marketing to get clients, deals, and even employees. How are you differentiating yourself in the market, and what can you do to be “that guy” or “that girl” in your specific industry?

You’ll also hear a special tip on how Kevin lost a deal to another buyer, and the exact tactic that the other buyer used to get the property under contract. Kevin goes through why this is such a great tactic for making sellers comfortable and how you can deploy it in your future deals as well.

In This Episode We Cover:

How to stop trying to force square pegs into round holes
The importance of taking a step back when assessing the situation
Harnessing intense emotions to make a better game plan
Why every business person NEEDS marketing in their industry
How to differentiate yourself within a market
Standing out to sellers to get more deals underway
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show439

438: The Ultimate Beginner’s Guide to Finding GREAT Deals in ANY Market with Anson Young Jan 28, 2021

Anson Young’s voice may sound familiar to you, that’s because he’s been on the podcast four times! Every time he’s back we learn something new, and today, Anson is talking about how to find and fund great deals, regardless of your schedule, or budget. You don’t need to be a full-time real estate professional to find great deals, just be sure to follow Anson’s advice.

If you haven’t heard Anson’s prior episodes, here’s a recap. Anson has touched on almost every aspect of real estate investing. He flips, he wholesales, and he sells houses as an agent, meaning he has a huge amount of knowledge to share to BiggerPockets listeners. On average, Anson is doing 12-15 flips a year, 10 wholesale deals a year, and a dozen or so sales a year as an agent.

Anson has some great advice on finding off-market (and on-market) deals that include driving for dollars, door knocking, and list building. He also shares how to build a profitable list, what neighborhoods to look into for deals, and how to specify what type of home you’re trying to get depending on your goals.

If you’ve been trying to get your foot in the door to real estate investing, Anson shares why many people have trouble at the start. It all comes down to consistency. If you’re new, it may be fun at first to start driving for dollars, but are you doing it consistently? Do you have an accountability partner that can hold you to a high standard to get the work done? Are you systematizing your leads or trying to juggle them all in your head?

We also talk about Anson’s fantastic book Finding and Funding Great Deals, where you can find everything you need to find and fund your next real estate deal. We’re also happy to announce the BiggerPockets Book Club, where you can hear from Anson live and ask him questions about his deals, his book, and his portfolio!

In This Episode We Cover:

How to find profitable deals in hot markets
Determining your goals and aligning them to your investor strategy
What to do if you struggle with consistency in real estate investing
How to analyze not only your deals but your market as a whole
What to look for in niche lists when prospecting off-market deals
Hiring out jobs to get your lead funnel filled
How to have your letter stand out when doing direct mail marketing
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show438

437: How Your “Worst Case Scenario” Can Set You Free From a Job You Hate with Marie Forleo Jan 24, 2021

Marie Forleo, world class coach, marketer, and author, grew up with a mother that did everything. Whether it was retiling the bathroom, fixing a leak in the roof, or performing electrical engineering on small appliances, her mother seemed to be able to figure out almost anything. One day she told Marie “everything is figureoutable”, which became the mantra for her career.

Fast forward a decade or so, Marie is working on the floor of the New York Stock Exchange, surrounded by the mega rich. She was stressed out and felt that she wasn’t in the right place. After a prayer and a cry, Marie knew she needed to get out from a job that was slowly killing her. She made the jump and went after coaching, without any experience, money, or clients.

Before she left her job she asked herself, “what is the worst case scenario if I leave”. She calculated it out, wrote it down, and realized, the worst case scenario really wasn’t all that bad.

Marie strongly believes that although you can be a victim of circumstances, you should never victimize yourself and tell yourself that you “can’t” do something. Everyone has the ability to reach their full potential, but once you start putting up excuses, it’s hard to get there.

“Feel the fear”, that’s what Marie told herself in those trying times, and continues to tell herself and her clients that everyday. As she puts it “Fear is really trying to tell you to move towards something”. As real estate investors, this is something we can all relate to, but often don’t put into practice. Well, now's the time to!

In This Episode We Cover:

The 3 rules of “everything is figureoutable”
The power of neuroscience and how you can use it to shape your behavior
How would you behave if you were the best in the world at your job?
Changing your limiting beliefs to reach something greater
Knowing when to leave a bad job and having a plan for the worst case scenario
Feeling the fear and running towards things that scare you
Pulling yourself out of the victim trap (even if you are a victim)
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show437

436: Going into Multifamily When You’re Fairly New to Real Estate with Jamie Gruber Jan 21, 2021

There’s a limiting belief that many people have: “I can’t do this thing because I have no experience”. Jamie Gruber disagreed with this line of thinking. Even with no multifamily experience, Jamie decided he wanted to be a multifamily investor. So what did he do? He started the Multifamily and More meetup to network with existing multifamily investors.

This didn’t mean that Jamie had no experience in real estate, he had a small portfolio of single family homes that he started to landlord by accident. Even with no experience in the multifamily space he was interested in, he was able to secure a deal with a member of his network.

Now with 21 chapters and 10,000+ members, Multifamily and More has become a big part of the multifamily investing community. It grew because, as Jamie describes, he added value, stayed consistent with meetings and postings, and built an online community that could network and interact (even during COVID).

Jamie gives his tips on starting a lasting community, how to navigate meetups during COVID lockdowns, finding the best partners for multifamily deals, and the importance of cash reserves when buying a property. Many single family investors want to transition to multifamily, if you’re part of that demographic, join Multifamily and More!

In This Episode We Cover:

Turning your primary residence into a profitable investment instead of selling
The importance of having cash reserves available when doing deals
How to break through single family investing and start growing a multifamily portfolio
What a business partner needs to see in you before they can offer you deals, money, or experience
The difference between financing residential deals and financing multifamily deals
Why you need to have a good operating agreement when partnering on deals
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show436

435: Why Successful People HATE Losing, But Aren’t Afraid to Lose with Scott McGillivray (Part 2) Jan 17, 2021

Scott McGillivray is back for this second part of his amazing interview. Last time we talked about the nitty gritty of Scott’s investments, how he started to acquire houses, and building his empire. Now we’re touching more on the mindset of what makes Scott so successful, and how you can put yourself in his shoes.

Many people may know Scott from his HGTV shows, but maybe you didn’t know he was once in a boy band. Seriously. He took dance classes, convinced his friends to join him, and sold out some shows, but the takeaway from this short-lived boy band was priceless. If you see someone else finding success with something, use their blazed trail to find success yourself.

From his boy band, to being on student council, and even the passing away of a loved one, Scott learned valuable lessonsthat he took with him for the rest of his life, and now gets to share with the BiggerPockets audience.

Scott goes on to share a story that made him pivot the direction of his life as a teenager, and lead him to become the real estate mogul he is today. Scott goes through his top pieces of advice for young people and proves how planting seeds for investments early leads to acres upon acres of residual fruits for decades to come.

In This Episode We Cover:

How Scott manages his hectic life between companies, shows, and family
Why successful people aren’t afraid of failing
What young or inexperienced investors should do when they feel scared of taking a risk
Why Scott says you “can’t lose money in real estate”
The importance of talking to those who are older and have more experience than you
Scott’s top pieces of advice for young people just starting out their careers
How Scott runs his companies and what he’s doing to be a better leader
How you can be the MVP of your company
And So Much More!

Links from the Show

Books Mentioned in this Show:

E-Myth by Michael Gerber
Built to Sell by John Warrillow

Click here to check the full show notes: https://www.biggerpockets.com/show435

434: How HGTV’s Scott McGillivray Started a Real Estate Empire with No Job, No Money, and No Experience (Part 1) Jan 14, 2021

Do you like watching home improvement shows such as Income Property, Vacation House Rules, and Buyers Bootcamp? If so, you’re in luck! Joining us on the podcast is HGTV host Scott McGillivray! Scott has been hosting some of the best real estate investing and construction shows for over a decade now, and if you like BiggerPockets, you’ve probably seen an episode of one of Scott’s shows!

Scott’s investing career started long before his TV network deals. As a student in college, Scott accidentally stumbled upon his landlord’s mortgage statement of account. He realized that him and his roommates were paying a few hundred dollars over what their landlord was paying monthly for a mortgage. That was the lightbulb moment for Scott. It was time to get into real estate investing.

While in college with no job, very little money, and no experience, Scott bought a house and moved out of his rented room. Now he wanted more. Over the next few years Scott started amassing more and more rentals, taking as many financing options as he could get his hands on. By the time he was 25, he already had 25 units and a significant amount of profit coming in every year.

This only pushed Scott to strive for bigger and better deals. Now Scott owns hundreds of rentals, and spends his time between Florida and Canada, finding more deals, and fixing up more rentals.

Scott is a tried and true investor, one who has gone through different market swings, different fads, and many different tenants. While he’s only in his early 40s, he has amassed an extensive knowledge of the real estate space. It’s no surprise he’s one of Brandon’s real estate heroes!

If you liked this episode be sure to tune in this weekend for part 2 of Scott's interview!

In This Episode We Cover:

When is the best time to get started in real estate?
Why most people are scared to invest, and what pushes them to finally do it
Amassing a small real estate empire even while you’re young
How to take advantage of financing offers and how Scott closed on 8 houses in the same day
Why you need to give your investing career time to start rolling
What a “double offer” is, and how you can use it to beat others to a deal
Why you should take action even when the market is uncertain
The ScottMc Method
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show434

433: You Get Your Standards, Not Your Goals: Ed Mylett on Success, Faith, and Building $100M+ Businesses Jan 10, 2021

You may have heard a speech from Ed Mylett (AKA the greatest speaker of today) sometime before this episode, but maybe not like this. For those who don’t know, Ed Mylett is a renowned speaker, entrepreneur, real estate investor, author, and podcaster. He has started businesses worth millions and continues to teach entrepreneurs through his personal brand.

What many people don’t know is how much Ed loves real estate. That’s right, you heard it first on BiggerPockets! It’s not the speaking, writing, and podcasting, it’s owning cash flowing properties. As a matter of fact, he just closed on one recently with his son and did an astonishing $100 million in real estate deals in 2020.

Ed emphasizes the importance of faith, generosity, and most importantly, setting your life at a high standard. These seem to be the key thought processes that many other successful entrepreneurs have, and again proves Ed’s point on their importance.

It’s not easy being in real estate, especially when the deals get big (we’re talking $25M+ deals). Ed cautions young investors to not bite off more than they can chew, or as he puts it “don’t take a loss where you can’t fight again”. In a world full of mega-leveraged investment opportunities, this might be the advice new investors need to feel confident going forward.

This episode also dives into the importance of having a purpose, whether related to faith or not, and how you need to chase the life you want, set your standards high, and do the most impactful things to accomplish them.

Links from the Show

Books Mentioned in this Show:

#Maxout Your Life by Ed Mylett
E-Myth by Michael Gerber

Click here to check the full show notes: https://www.biggerpockets.com/show433

432: From $0 to $1,000,000 in 5 Years: The 4 Steps to Gain Millionaire Net Worth with Brandon and David Jan 07, 2021

Everyone wants to be a millionaire, and if you’re listening to this episode, you probably want to be one as well! With so many online gurus trying to sell their secret to success, it can be hard to distinguish the real from the...not so real.

On this episode, we’re lucky enough to have two millionaires with us! Brandon Turner and David Greene! Brandon and David have compiled a list of 4 traits that all millionaires possess, and if you can possess these traits too, you’ll be on your path to millions. These millionaire traits aren’t just exemplified in Brandon and David, these traits tend to be universally consistent across self-made millionaires.

This episode will also touch on mastery and how you can not only achieve it, but refine it using the 4 stages of mastery. Stuck on a deal, don’t know where to go next in your career, thinking of jumping ship on a project? List down these 4 stages and see where you stand, you’ll be able to see what you need to do to go on to achieve greater mastery in whatever you’re interested in.

Since it’s the start of the year, it’s a great time to look forward with not only hope, but a plan. Take your existing plan and see where these traits and stages fit into your life, where you’re lacking, and where you can do better. This is how you’ll achieve success and the coveted millionaire status.

In This Episode We Cover:

What sets apart millionaires from those chasing millions
The 4 common traits of a millionaire
Developing your crystal clear criteria for investing in real estate
The importance of raising standards over time to achieve more
Why tracking your personal AND business life can merge to benefit your entire life
The 4 stages of mastery that will make you into a millionaire
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show432

431: How to Make Trade-offs in Your Life (Before Others Do it For You) with Greg McKeown Jan 03, 2021

Your agent is calling you to show you houses, your boss is emailing you about some work to do, your partner wants to grab dinner, and you want to take a nap. How do you prioritize things in your life when everything seems so important? The key is essentialism.

Joining the podcast today is Greg McKeown, Author of Essentialism: The Disciplined Pursuit of Less. Greg relates to the struggle of many entrepreneurs and investors: too many options, not enough time. Instead of telling you to wake up at 5 AM, take a cold shower and work until 10PM, he presents a far more effective (and simple) approach.

What Greg suggests: pick the things you care most about, do them, and don’t worry about the rest. But how do you pick when everything seems essential?

The answer: almost everything else besides your core cares/needs aren’t essential. If you begin to treat the non-essential as essential, you stretch yourself too thin, not allowing you the time to accomplish what truly is...essential.

In the modern age, many of us feel like we don’t have time to accomplish everything we want. When we get laser-focused and put the principles of essentialism in our daily lives, we can accomplish more than ever.

In This Episode We Cover:

What is essentialism?
How to designate the non-essential from the essential tasks
Why having too many good options puts us in a dangerous position
How to find out which tasks deserve delegation or deletion
Developing the courage to say “no”
Finding an accountability partner so you’re locked in for success
Why Brandon wants to spend less time on Tiktok
And So Much More!

Links from the Show

BiggerPockets Podcast
BiggerPockets book store
Essentialism book Website
StickK App. How to turn goals into a reality

Click here to check the full show notes: https://www.biggerpockets.com/show431

430: Best of 2020: Brandon and David’s Favorite Pieces of Advice from 2020 Guests Dec 31, 2020

Another year of the BiggerPockets Real Estate Podcast is in the books! This time, we’re joined by co hosts, David and Brandon, live from the Sea Shed in Maui!

We’ve had such a fantastic group of guests this year, so to help ease into 2021, David and Brandon picked their 7 favorite clips from the whole year. You’ll hear from familiar faces like Tarl Yarber, Thach Nguyen, and other real estate rockstars.

This episode doesn’t just touch on real estate, we also go into how many real estate professionals made personal growth a priority when accomplishing their goals, all while enjoying their life more.

If you’re ready to expand your business, get more units under contract, or begin your first house hack, this advice will be crucial for your personal, business, and real estate success in the coming year. It has certainly helped out Brandon and David!

Thanks again for joining us this year, we look forward to interviewing even more amazing guests in 2021 (and beyond)!

In This Episode We Cover:

Why certainty is often more expensive than risk
Why integrity in the present is worth so much more for your future
Staying focused on the long-term perspective for consistent success
The importance of peace of mind when investing in real estate (and other assets)
Why you need to build a business around your life (not the other way around)
How to commit even when you don’t have all the pieces needed
Why you always need to keep your expenses low (if you want to escape the rat race)
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show430

429: Pursuing Self-Sovereignty and Why Life is More Meaningful When It’s Hard with Ryan Michler Dec 27, 2020

How many times has something happened in life where we blamed someone besides ourselves for the outcome? Didn’t get a promotion: it’s your bosses fault for being greedy! Ran late to work: it’s all the other drivers faults, not yours! Investment property having problems: it’s the tenant doing all the damage!

Ryan Michler, founder of the Order of Man, sees this sort of victim mentality as a massive block to our full potential. He makes the well-put point that all we can do is control our effort, we can’t control others.

This realization didn’t come easy, though. Ryan realized this after a tough fight with his partner, leading him to reevaluate not only their relationship, but the way he shifted blame on others, in an unhealthy way.

Now Ryan interviews the men that he looks up to on his own podcast, all while running his organization/brotherhood of those part of the “Order of Man”.

It’s not easy to stay humble and calm all the time, especially in the state of our current world, but Ryan does as good of a job as any to remind us all that our future is in our hands, and all we can do is try our best, consistently.

In This Episode We Cover:

Why we all need to practice humility, ownership, responsibility, and sovereignty
The importance of having a “servant’s mindset” even as a business owner
How to constantly add value to whatever you do in life
Why we should shift our focus to our efforts and not other’s efforts
Why having children makes you want to be better and push harder
The importance of owning and running a business, even at a young age
Dropping the “I” and using the “We” when leading a team
Why “the win” is simply “playing the game”
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show429

428: Using Simple Conversations to Get Deals Others Can’t with Investor Rodney Ross Dec 24, 2020

Rodney Ross didn’t have the most gracious entrance to the real estate space. He bought a house while in college, with only $8,000 down and not a lot in the bank. The house ended up getting de-authorized for tenants to live in so Rodney had to go back on his loan. Game over right? Time to give up? Not for Rodney!

While finishing college, Rodney decided to take it a bit slower, getting his real estate agent license so he could build up the capital to buy rentals. He’s been an agent, a wholesaler, a general contractor, and a buy and hold investor. If it’s happening in real estate, Rodney probably knows about it!

Unlike many new (and even experienced) real estate investors, Rodney took the time to nurture leads, have meaningful conversations with sellers and buyers, and found that by having some basic empathy for the other party, you’re more likely to close deals.

This strategy seemed to have worked, in a decade since his first deal, Rodney now has around 20 cash flowing units, and he’s looking for more!

Using the 203k loan, Rodney has been able to get homes at a discount, finance the repairs, and get them rented and refinanced, kind of like a speciality BRRRR. This episode proves that if you care about real estate, care about your partners, and are willing to take risks, it will truly pay off.

In This Episode We Cover:

How to get back up after a frustrating investment
How knowing about construction timelines and projects can help you get comfortable enough to do your first rehab
Why mixed use properties are often an overlooked real estate class
The importance of defining your role with your partner
How to talk to buyers so they’ll choose you over other offers
Why it’s so important to look out for the other real estate parties in a deal
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show428

427: The 12 Week Year and The Danger of Long-Term Goal Setting with Brian Moran Dec 20, 2020

We’re joined today by author, consultant, and entrepreneur Brian Moran, author of The 12 Week Year. Brian holds a view that many BiggerPockets listeners subscribe to: you are more capable than you think. Through short term sprints, Brian has found that we can all accomplish long-term goals, regardless of the difficulty.

This isn’t just a strategy that works for real estate, this works in any industry. Brian has consulted with every kind of business, and the results speak for themselves. Regardless of job type, business type, or industry type, the 12 week yearhelps you accomplish more by doubling down on what you need to do most.

Brian also talks about the danger of long term goal setting, and even annual goal setting. It isn’t that long term goal setting doesn’t work, it’s that it presents us with a long time frame to accomplish something we could do far quicker. That’s how the 12 week year kicks our “unproductive mindset” to the curb, and gets us fired up to do great things sooner.

Many investors find it hard to break out of their comfort zone, do the things that they find hard, or even just feel motivated. The crucial part of finding success wherever you need it? Take action, start today, track, plan, and re-plan when needed. You’ll soon find that you’re fired up about things that used to seem scary!

In This Episode We Cover:

What the “12 Week Year” really is
How short term goal setting can help you accomplish your biggest goals
Why you need to shift focus to executable tasks
How to get tactical on your goals and what you can do to accomplish them
Leaning into hard things and shying away from comfort
The importance of “vision work” and knowing where you’re headed
Holding yourself accountable for what you want most in life
How repetition forms competence and competence forms confidence
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show427

426: Using the “Sunflower Method” To Buy 18 Properties in Just a Few Years with Teacher Jon Wooten Dec 17, 2020

Many new investors find excuses for why they can’t buy properties. Either they don’t have the money, the deals, or the experience. Our guest today, Jon Wooten, had none of these three, but found a way to acquire 18 units (and become financially free) in only a few years.

By asking questions and sticking out to the local real estate investors, Jon was able to acquire valuable experience, all while gaining equity in his rental properties. Jon has his own method for finding deals and acquiring wealth, called the “Sunflower Method”, which has helped him get to the point he is at.

Now, financially free at 28, Jon has the ability to choose whether he wants to work, which projects to go after, and how he wants to spend his time. This isn’t a far away goal that only the rich and well connected can get to, it’s available for all real estate investors!

You may be working a minimum wage job, stuck in a career you want out of, or have debt. Jon shows that all of these can’t stop you from acquiring wealth!

How do you find houses? How do you find a mentor? What’s the best way to find a quality handyman? How can you make sure a house is being inspected properly. All these questions and more are answered in this episode!

In This Episode We Cover:

How to find a mentor AND get your first rental
Why you should make it an effort to get to know your local real estate investors
Why self-managing is a great way to gain experience
How to get seller financing on a rental (and who to ask for it)
Why you should call “for rent” signs
What the “Sunflower Method” is and how it builds wealth
The best way to find a quality (and inexpensive) handyman
Fake cash flow vs Pure cash flow
How to properly inspect a house before you make an offer
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show426

425: Focusing On Your $10,000/Hour Tasks (And How to Outsource the Rest!) with Benjamin Hardy Dec 13, 2020

On last week’s episode, we talked to Dan Sullivan, author of Who Not How. This week, we’re joined by his co-author, Benjamin Hardy. Benjamin has spent the last few years getting his PhD in organizational psychology, writing books such as Personality Isn’t Permanent and Willpower Doesn’t Work. These tie perfectly into his new book Who Not How, and will help you get to the business, personal, fitness, or other goals you’re trying to reach.

Benjamin goes through why things like willpower and effort are often misunderstood, and how they can be used as tools to get you to your goals, but they aren’t the path. Benjamin walks us through why so many entrepreneurs get “decision fatigue” and why situations often rule over people, not the other way around.

Benjamin presents a very unique view on shaping your future, one that isn’t often talked about in the self-help and business space. With many entrepreneurs feeling stressed, fatigued, or just confused, Benjamin’s advice offers not only a practical, but tangible way to accomplish what you want and do better in your business and personal life.

We also double down on the importance of hiring people who will make your life easier, not just for your sake, but for theirs as well. Plus, Benjamin shares one of the most important hires you can make that will help you clear hundreds of hours off your calendar.

This episode isn’t just about why you should hire an employee. It’s about how you designate your time, and ultimately your life. As Benjamin says “Your future self is more important than your present self”, and for good reason!

In This Episode We Cover:

Why willpower doesn’t work in the way many people think it does
Why situations are often more powerful than people
How to remove “decision fatigue” and stop it from plaguing your life
How to find the right “who” for your organization and life
Defining your crystal clear criteria for your future self and the roles of others
How to be the right “who” for someone else’s “how”
Applying behaviors so your identity can follow
Focusing more on getting your “$10,000 tasks” done
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show425

424: Make More Money, Build Your Portfolio, and Get Greater Tax Deductions in 2021 with J Scott, Amanda Han, & Matt MacFarland Dec 10, 2020

We have a real estate and investing mastermind session in this episode of the BiggerPockets Real Estate podcast! J Scott, Amanda Han, & Matt MacFarland join David and Brandon to discuss what investors should do to maximize their wealth (and opportunities) in 2021.

Co-host David Greene goes over his new book SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business, talking through who should (and shouldn’t) be an agent, what makes a great agent, how agents can maximize their income, and more!

J Scott talks heavily about how the election, stimulus packages, and new (proposed) tax codes could hurt (or help) real estate agents, and what you can do to ward off higher tax plans, loss of rent, or even inflation.

Amanda and Matt are our tax professionals on the show! They dive into which upcoming 2021 tax codes could affect you, whether you’re an agent, a real estate investor, or just a W2 worker!

This is a fantastic episode for any listener who wants to know more about how 2021 may shape our economic future. Thankfully, we have some of the best guests in the world to tell you about it!

In This Episode We Cover:

Who should and shouldn’t become a real estate agent
How to offset earned income tax with real estate investments
Why you should buy David’s new book SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business
The new opportunity of buying businesses in 2021
How to hire your best workers (and why you may need to let some go)
How 2020 taught us to keep our businesses lean
What to do if 1031 exchanges go away
How inflation may affect your wealth over the next 1-5 years
Why debt is a great inflation hedge
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show424

423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan Sullivan Dec 06, 2020

Has anyone ever told you “you’re really good at that, you should make a business out of it”, if so, you may have inadvertently found your “unique ability”.

Author and coach Dan Sullivan joins us to talk about the secrets of success behind the 20,000+ entrepreneurs he’s coached over the past few decades. If you’re finding it hard to scale up your business, hire on more staff, or get rid of the stuff you hate doing, Dan probably has an solution for you.

As someone who’s built a coaching empire AND been bankrupt twice, Dan knows a thing or two about what makes asuccessful enterprise, and what doesn’t. His key to success? Create a self-managing company, that allows you, the entrepreneur, to do what you really love.

Hate going through spreadsheets? Great, hire someone who loves it! Don’t like picking up the phone to talk to investors? Cool, get someone who likes to chat! Love giving presentations to prospective clients? Great, make it your main job!

Whether you have one employee or thousands of employees, Dan shows how simple it is to designate tasks, get the right person doing the right thing, and free up time for you and the whole team! The best way to hear Dan’s advice and grow your company? Listen to this episode!

In This Episode We Cover:

Finding your “unique ability” and using it to build a business
The 4 freedoms of an entrepreneur (and why they’re so important)
How to create a “self-managing” company
Why procrastination is a great tool
Why the future of business is reliant on teams
How to hold a team together when building your business
Whether you’re a “simplifier” or “multiplier” entrepreneur
How not to get bogged down in an abundance of choice in the modern age
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show423

422: From W2-Job Single Mom to Flipping Real Estate Rockstar with Amanda Young Dec 03, 2020

Amanda Young stumbled into real estate. After being let go from a job, dealing with a family emergency, and homeschooling her son, Amanda knew that she had to find a way to provide for her family, but also allow her to discover her hidden edge.

After finding BiggerPockets and joining a local REIA (real estate investors association), she decided to take the jump and buy her first rental. Now, in 2020, she has 7 rental properties and a flourishing flipping business, working with a partner that matches her energy.

Amanda found her localized niche by targeting owners of “sinkhole homes” and offering them deals that not only made sense for the buyer, but were a steal for her. She then used creative financing (really creative) to get these homes under contract.

Amanda is the definition of someone who has grit, and is willing to work hard to earn their piece. She talks through Section 2 deals, 1031 exchanges, refinancing, and even how to “COVID-Proof” your tenants, so when the next global emergency happens, you’ll be ready.

In This Episode We Cover:

How to fight your analysis paralysis and get deals done
What probate deals are and how to find leads
Why owner financing can be a win-win for buyers and sellers
How Amanda found a niche in “sinkhole homes”
Why it’s important to find a niche that others would run from
How to “COVID-Proof” your rental properties
Getting ahead as a woman in a male-dominated industry (flipping)
Empathizing with the seller so you’ll win negotiations (even with less money)
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show422

421: Family Over Everything: How Life Forced BP Founder Joshua Dorkin to Reevaluate His Choices Nov 29, 2020

Many avid members of the BiggerPockets forum, listeners to the podcast, or readers of our articles may know our founder, Joshua Dorkin.

What you may not know is Joshua’s journey in founding, building, scaling, and finally leaving BiggerPockets. It was a hard decision for Joshua to leave, but thanks to his amazing team, he was able to (even during a time of tribulation in his personal life).

You’ll hear how Joshua was cranking out 100 hour weeks, working 7 straight days, for the first 6 years of BiggerPocket’s existence. He later transitioned to building a team, starting with the BiggerPocket Podcast’s very own host, Brandon Turner.

This later snowballed into more hirings, with the BiggerPockets growing faster and faster, and being able to scale larger and larger. Just at the time when things were starting to go from big to bigger, Joshua had to take time off to take care of his daughter’s medical emergency. This caused a shift in Joshua’s reality, so he dropped everything.

This keynote speech goes deep into what really matters most. It’s not money, it’s not success, but it’s something that matters even more: fulfillment and family.

Check out the video on our Youtube channel, and be sure to give Joshua a follow on Twitter at @jrdorkin.

In This Episode We Cover:

The history of BiggerPockets and how it grew to what it is today
Why “knowing everything” usually means knowing nothing
The importance of hiring smart, capable people
How to listen to your body and mind, to find out what you need most
Why you shouldn’t work 6 years straight with no time off
Why you need to do the “Big Scary Thing”
How life forces you to account for what matters most
Why Joshua Dorkin has 3 dads
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show421

420: Finding the “Sweet Spot” in Multifamily: Scaling to 150+ Units with David Grabiner Nov 26, 2020

David Grabiner takes the term “long distance investor” to the extreme. While he was a hospital administrator in the Democratic Republic of Congo, he was calling real estate agents in Chattanooga, Tennessee trying to scoop up multifamily deals.

David started out by partnering up with his father, buying a quadplex that helped him get his initial training in property management. He later scaled up his and his father’s investment portfolio to 24 units, and then, within 3 years, scaled up his own investments to 150+ units!

This meant that David had to quit his job and go full-time into real estate investing. He did it, and he isn’t looking back! Now David is a deal-finding machine, buying directly from listing agents and becoming one of the go-to multifamily investors in Chattanooga.

Whether you own one single family home, a dozen duplexes, or hundreds of apartment complexes, you’ll take something away from David’s in depth discussion on property management, landlording, and tenant screening.

In This Episode We Cover:

Finding your “unfair advantage” and how it can help your investing career
Approaching different investors with different points of view
The importance of networking for off-market deals
Why you shouldn’t be scared to be “the owner”, and actually use it to market yourself to others
How to find, screen, and keep tenants in place
How you can quickly increase a property’s value (simply by being a great property manager)
Finding the “sweet spot” in multi-family deals
Setting up systems for automated property management (so you can scale!)
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show420

419: Defeating Distraction and Why “To-Do” Lists are Dangerous with Nir Eyal Nov 22, 2020

Ever missed out on an important moment because you were staring at your phone, distracted by TV, or just zoning out? Nir Eyal, author of Indistractable, felt the same way when he missed an important moment with his daughter because he was locked in on his phone.

This spurred Nir’s curiosity on why people get distracted, what they’re getting distracted by, and how people can turn their distractions into the opposite: traction.

As a business owner, angel investor, Stanford lecturer, and father, Nir understands what it feels like to live a hectic life, but he also understands that most of the time, we ourselves are the ones making it hectic.

So what prompts us to take action? What prompts us to take inaction? How can we make ourselves do the things we need to do, with better results, and still have time for our children, relationships, hobbies, and even down time?

It’s all possible, and the key to a distraction-free life is even easier than you would think.

In This Episode We Cover

Why most people know their distractions, but not how to eliminate them
Why we need to “get out of our own way” to accomplish our goals
How to find your “traction” and use it to get ahead
The 4 steps to eliminate distraction
Understanding your values and using them to schedule your time
How to “time box” your calendar and get your tasks done
Leaving the victim mentality behind and empowering yourself to do what’s important
The 3 “life domains” that we revolve around
Why you need to prioritize consistency over intensity
And So Much More!

Links from the Show

Books Mentioned in this Show

Hooked by Nir Eyal
Indistractable by Nir Eyal

Connect with Nir:

Nir's website

418: 14 Deals in 16 Months: How Alex Camacho Found his Mastery in Deal Finding Nov 19, 2020

Alex Camacho has had quite an interesting career path, and he’s just getting started! From a bank teller, to the mortgage business, to property management, and even Airbnb arbitraging, Alex took his time in acquiring the skills to succeed in real estate.

In this episode, you’ll hear Alex talk about how he became successful at locking down deals, finding the “pain points” of sellers, and how to have empathy when closing. You’ll also hear how he analyzed over 5,000+ deals, leading him at one point to close on 8 deals in one month (seriously!)

You’ll hear Alex go through his off and on-market strategies, and how to steer clear of deals that won’t make the cut. In just 16 months on his own, he’s done 14 deals, some with six-figure profits (each), and how he’s using social media to get even more!

In This Episode We Cover:

The importance of apprenticeships in real estate
The art of saying “no” as you grow into your role
Why it’s crucial to surround yourself with high-level investors and entrepreneurs
How to get great at analyzing deals, so you can close on the best ones!
Using the “LAPS” funnel to drive leads and grow your portfolio
Finding the “pain points” sellers have, and how to empathize with them
Using social media as a tool, instead of a distraction
And SO much more!

Links from the Show

Check full show notes here: http://biggerpockets.com/show418

417: 9 Ways to Tweak Your Mindset So You Can Lock Down Deals with Brandon and David Nov 15, 2020

Are you a new or aspiring real estate investor who hasn’t locked down your first deal? Or maybe you haven’t hit your personal goal or unit count yet. If so, you may need to tweak your mindset to reach new heights.

Brandon and David are back flying solo on this weekend’s episode to talk about the 9 mindset changes that make successful real estate investors, well, successful! You’ll hear them dive deep into each mindset change, with examples from their investing careers, and how they made the leap to change their mindsets for the better.

If you’re looking to cultivate a healthier relationship with real estate investing for the better, this is an excellent episode to take some notes!

Whether you’re brand new to investing or just looking to level-up your current portfolio, you’ll take away some important lessons on this weekend’s episode.

In This Episode We Cover:

Why many new investors haven’t done their first (or second) deal yet
Understanding the cost of inaction (and how it can work against you)
Focusing on the big picture without being bogged down with details
Building your investment criteria to know what you want
Turning “base hits” into “home runs”
“Running towards hard” and taking responsibility for doing the work
Thinking outside the box, regardless of your career, investor level, or experience
Gathering experience and keeping the momentum going
Using off-market techniques to get on-market deals (and vice versa!)
Letting go of expectations for your deals
And SO much more!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show417

416: 29-Year Old Making Nearly $1M in Passive Real Estate Income (3 Years In!) with Matt Onofrio Nov 12, 2020

Many investors look at commercial real estate as a high-risk, confusing, and sometimes scary way to invest. Our guest today shows us why this isn’t the case. In fact, he did a multi-million dollar deal in his first year in real estate!

Minnesota-based health care professional Matt Onofrio helps us break down the stigma behind big commercial deals. From financing, taxes, mentorships, and more, Matt shows how someone from a completely different field can thrive in real estate... even with no prior knowledge of the space.

You may want to bring a notepad and pen, as Matt walks us through advanced strategies such as reverse 1031 exchanges, seller carrying, cost segregations, and triple net leases. Whether you’re looking into commercial or residential real estate, this is a can’t-miss episode.

In This Episode We Cover:

Locking up your first deal with $0
How commercial real estate can not only be profitable, but safer than residential
The importance of your inner investor/mentor circle
Whether residential or commercial real estate works for your mindset
Offensive vs. Defensive real estate strategies
Creating income producing debt
Building your “vivid vision”
How coaching can take you from good to great
What spirit animal David, Brandon, and Matt are
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show416

415: Studying Billionaires: The 3 Timeless Principles for Wealth with Stig Brodersen Nov 08, 2020

Ever wanted to know how Mark Cuban, Richard Branson, and Warren Buffett seem to invest with ease? Or how you can leverage and measure your risk to make billionaire financial decisions?

On this episode, Stig Brodersen – investor, teacher, and host of the popular We Study Billionaires podcast – brings you his distilled wisdom on success, mindset, the stock market, and the 3 universal traits shared by ultra-elite investors (and no, they don’t include flying first class or eating copious amounts of caviar).

Early on in his story, Stig found himself dissatisfied with his job and needing a change. So, he did what any rational person would do, and began studying billionaires starting from the top of the Forbes 400 list. He didn’t get far before he “found his fire,” discovering passion and community in studying the stock market and the most heralded investor of all time: Warren Buffett.

He has since interviewed hundreds of guests on his podcast, and unearthed countless pearls of wisdom that he shares with you in this episode.

You might be thinking: “They’re interviewing a stock market investor on a real estate podcast?” Yes, and any real estate investor could learn a thing or two!

As a practiced student of the financial markets, Stig calls out all-too-common mistakes made by new investors, and shares a blueprint for you to use to determine if and how to get started in the markets, regardless of experience.

In This Episode We Cover:

The 3 timeless traits of billionaires
Why real estate investors should “cross-train” in the stock market
Assessing best- and worst-case scenarios
Why you need to "resonate" with your chosen asset class
Why real estate is an asymmetric bet with high reward for relatively small risk
How to get into investing in the stock market with little-to-no experience
Common mistakes of new stock market investors
How a BiggerPockets member saved Stig's life on an overseas trip (really!)

Links from the Show

BiggerPockets Podcast
The Investor's Podcast Network's list of best investing podcasts
The Investor Podcast Network

Click here to check the full show notes: https://www.biggerpockets.com/show415

414: 1300 Units in Real Estate Development at 30 years old with Evan Holladay Nov 05, 2020

The harder the problem, the bigger the reward... and real estate developers who can solve affordable housing problems can do very, very well.

Enter today's guest, Evan Holladay, who reached 1,300 units before the age of 30 through a combination of focus, relationship-building, and a deep understanding of the rules of the game.

In this high-level episode, you'll learn how Evan and his team apply creative financing techniques to multimillion dollar projects; how they takes advantage of tax credits and grants and put together public-private partnerships; and why patience and persistence can lead to huge profits in the development game.

Whether you plan on getting into bigger deals in the future or not (Evan wants 100,000 units!), this episode will inspire you to start thinking like a big-time investor, strategist, and leader.

In This Episode We Cover:

Listening to "what fires you up" when getting started
Evan's apprenticeship for a student housing developer
What a public-private partnership is
Using tax credits to make a profit building affordable housing
How he creatively finances big multifamily deals
How he manages risk
Why “it’s more valuable to control real estate than to own real estate”
Why development is such a big opportunity in markets where "it's too expensive to invest where I live!"
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show414

413: Matthew McConaughey on Vision, Preparation, and Balancing Ambition with Family & Freedom Nov 01, 2020

You, BiggerPockets listener, may have more in common with Matthew McConaughey than first realized...

Changing careers. Wondering how family life fits in with a hard-driving work ethic. Embracing spontaneity, but learning that success comes from making the choice today to "be kind to your future self."

The Oscar-winning actor covers those topics and more in our chat today. A lifelong journaler, McConaughey is in a reflective mood after writing his first book, Greenlights... which is filled with unforgettable stories about growing up the son of Texas an oil pipe "peddler," stumbling into acting after a night drinking with the producer of Dazed and Confused, getting arrested for playing the bongo drums in the nude, and his mid-career shift toward intense, challenging projectslike Dallas Buyers Club.

If you're thinking "nah, this episode won't teach me how to house hack"... fair enough. But give it a chance and see if you aren't entertained. It's a soulful, positive, not-at-all-Hollywood conversation about choices, happiness, and success. Here's to catching more greenlights!

In This Episode We Cover:

Matthew's upbringing and lessons learned from his parents
His decision to reject law school to pursue film
His dad's 3 words of advice on choosing a career
Forming your personal identity through a process of elimination
How he prepares for intense roles
The power of solo travel
His faith
His beliefs about money and philanthropy
The give-and-take between career and family life

Links from the Show

Click here to get the full show notes: https://www.biggerpockets.com/show413

412: Start Investing in Large Multifamily? How to Do it, and Why (or Why Not) with Ashley Wilson Oct 29, 2020

Ashley "BadAsh" Wilson is back today to discuss how she's shifted strategies since her popular first appearance on the show two years ago.

Today's topics: Jumping from house flipping and short-term rentals into large multifamily; finding and using your unique ability when getting started; and how women can (and should!) use real estate investing to secure financial independence.

Want to know how many offers it takes to land a 150-unit apartment building in Houston? Interested in multifamily, but unsure where to start? You'll get answers in this show – and in the multifamily "tip sheet" she prepared just for our audience (download it below).

If you are a woman who's determined to get into real estate investing – or if you think your wife, mother, sister, or daughter would benefit from hearing Ashley's story – pick up a copy of her new book, The Only Woman in the Room: Knowledge and Inspiration from 20 Women Real Estate Investors today!

In This Episode We Cover:

How Ashley made the jump from flipping and rental houses to large multifamily investing
Her #1 tip for anyone who wants to get into multifamily
How she acquired a 150-unit apartment building in Houston
What a "Letter of Intent" (LOI) is
Looking at 200 deals just to buy one (!)
Using "the stack" method vs. multifamily syndication
How she became an expert in construction management
Why she wrote a book about being "the only woman in the room"
Why it's worth visualizing your perfect day when you start building your business
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show412

411: The Life-Changing Power of a Goal-Setting Retreat (+ Live Demo with Husband/Wife Investors Matt & Melissa) with Geoff Woods Oct 25, 2020

Have you ever bought a whiteboard or a journal and thought, this is it... This is the moment when I REALLY commit to goal-setting... and then (as it tends to do) life just kind of gets in the way?

This episode is about rethinking your approach to goals – and to do this, we've brought in an expert on managing your time and mental energy like a billionaire: Geoff Woods, VP of The One Thing and facilitator of their upcoming virtual goal-setting retreat

Today, Geoff shares the blueprint that high-performing couples, teams, and individuals use 1) cast a shared vision of the future 2) work backwards to map out important steps, and 3) regularly recalibrate and track progress. Plus, we put this to the test, live!

About halfway through the episode, you'll meet Matt and Melissa Miller – married parents of 3 who own 7 units but are struggling to define their exact vision... and the action plan required to realize it. Geoff leads them through a goal-setting exercise live, and the result is inspiring and surprisingly emotional. #MarriageGoals - literally!

Whether you're looking to get on the same page as a spouse, business partner, or just chart out a clearer path for yourself... you'll get a ton of value out of this episode. Let us know what you think of it, and use the link below if you're interested in joining Geoff (and Brandon and Heather Turner!) at the retreat next month.

In This Episode We Cover:

How billionaires set goals
What to do when your spouse or partner is not a natural goal-setter
How to have an ongoing relationship with your goals
A live goal-setting exercise with a real estate investor couple, Matt and Melissa
Defining whose lane is whose when running a business with your spouse or partner
What happens at a goal-setting retreat
Geoff's personal story of leaving medical sales to work with Gary Keller and Jay Papasan

Links from the Show

Click here to check the full show notes: http://biggerpockets.com/show411

410: Life-Changing Deals: 5 Traits They Have in Common with Ken Corsini Oct 22, 2020

What does it take to pull off a home run real estate deal?

Today, we put that question to Ken Corsini, HGTV star and author of Profit Like the Pros: The Best Real Estate Deals That Shaped Expert Investors.

Ken spoke to a diverse group of 25 investors about their very best deals, and in this episode he breaks down the common threads that run through each of those stories.

You'll also hear Ken's tips for building your own personal brand in your market, and how he used his "Flip or Flop Atlanta" fame to build a brokerage and mortgage company.

Throughout this episode, Ken points you to individual investors in the BiggerPockets community; be sure to check out their BP profiles to learn more... and pick up a copy of the Profit Like the Pros in the BiggerPockets store today.

Every format includes a bunch of great bonus materials, including a breakdown of 22 investors' worst deals – so you can avoid the same mistakes.

In This Episode We Cover:

How personal connections often lead to home run deals
Honing in on a specific niche and building expert knowledge
How one deal can change the trajectory of your career
Ken, David, and Brandon's personal best/favorite deals
Common traits of the worst deals featured in Ken's book
How Ken built a personal brand, then spun it into different businesses
How he controls each aspect of his real estate transactions (title, lending, etc.)
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show410

409: Giving Yourself Permission to Go BIGGER: the "Bluefishing" Mentality with Steve Sims Oct 18, 2020

Today's a special episode featuring the author of a book we can't get enough of: Bluefishing: The Art of Making Things Happen by the man, the myth, the legend - Steve Sims.

Who is Steve, anyway? Well, he's a former bricklayer and bouncer-turned-entrepreneur who uses a unique mindset and blend of skills to creates once-in-a-lifetime experiences for billionaire clients.

Experiences like: getting married by the Pope in the Vatican, having a private dinner at the feet of Michaelangelo's David statue, or going on an underwater tour of the Titanic shipwreck.

And here's the thing: as you'll hear in this episode, Steve's not a silver-spoon, high society type. He's just a regular guy who chooses to think and act differently, consistently. And after this episode, you'll be able to "Bluefish" your way into more relationships, more private money, and ultimately more deals!

We talk about "leading with value" when approaching mentors... blah blah blah. Today, you'll hear a refreshing new twiston that concept, and learn actual tactics you can put into practice to make more connections and level up your life today.

One final note: Steve uses some colorful language in this episode; please take note of the "Explicit" label, and listen to this one when the kiddos aren't in the backseat :)

In This Episode We Cover:

How Steve went from bricklayer to bouncer to building a business that makes people's dreams come true
What "Bluefishing" is
Digging deeper to find your customers' true motivation
The one thing Artificial Intelligence can't replace
Why it's often better to remove – rather than solve – problems in your business
How to chase your own dreams, not someone else's
Why social media "influencer culture" often leave you feeling empty and unhappy
Stories of working with clients ranging from Elon Musk to The Pope

Links from the Show

Click here to check the full notes: http://biggerpockets.com/show409

408: Full-Time Income on a Part-Time Schedule with Emma Powell Oct 15, 2020

Ever wonder how your family would manage if you or your spouse lost your job? Emma Powell faced that reality head-on. She knew she needed "full-time income" while continuing to spend time with her family... and she knew real estate investing would be the vehicle to get her there.

Today Emma shares her journey from part-time photographer to multifamily dealmaker – how she got in the game by joining a REIA and immediately loaning money to an experienced investor (we discuss the right and wrong way to do this); her #1 piece of advice when meeting with a potential mentor; and her foray into the world of lease option ("rent to own") deals.

Plus – Emma shares her perspective on how to choose a niche that suits your strengths (wholesaling wasn't for her; syndication and bigger commercial deals were a better fit).

This is an inspiring story of someone who experienced a financial wake-up call, and went from total rookie to syndicator in just a few years... all while homeschooling 6 kids. Enjoy this one, and we'll see you again on Sunday!

In This Episode We Cover:

Emma's reaction to her husband being laid off from his tech job
What a Real Estate Investor Association (REIA) Meeting is
How she's found nearly all her deals by simply networking
Due diligence when loaning money to an investor
What lease options are
What a "due on sale" clause is
Closing a great deal after a seller was burned by wholesalers
Her passive income goals for the future
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show408

407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan Pineda Oct 11, 2020

Want to think like a high-level investor and business owner who is seizing the moment and enjoying his best year ever? Listen up!

Former Oakland A's baseball player (and show 292 guest) Ryan Pineda steps back up to the plate today... and he delivers a detailed breakdown of how he's using TikTok, Youtube, billboards, and TV commercials to generate an avalanche of leads in the Las Vegas, NV market.

Ryan's team flips and wholesales 100 houses a year... but because he's set them up according to the EOS/Traction system, he spends just 3-4 hours per week running things!

Sound good? Well, a lot of hard work went it.

And in this episode, you'll hear the journey firsthand: from exactly how each member of Ryan's team handles a transaction, to why they keep a visual scoreboard in the office, to how he had to shift his mindset after realizing he was the bottleneck holding his business back.

In This Episode We Cover:

Operating a real estate brokerage, tax company, house flipping business all at once
Flipping 100 houses/year in 3-4 hours/week
How Ryan attracts deals using TV ads and billboards
Why he believes influence is the most valuable currency today
Finding the one thing you can't delegate
How he leads a team using EOS system from the book Traction
How structure can actually free your team up to do their best work
And SO much more!

Links from the Show:

Don't this miss one this one, and leave us (and Ryan) a comment in the show notes over at biggerpockets.com/show407.

406: 51 Units and $900/Month in Pure Cashflow on a “BRRRRnB” with Shelby Osborne Oct 08, 2020

"Systems, People, and Positive Vibes" are what powers Shelby Osborne's business, and today she breaks down exactly how she's used those 3 forces to go from 0 to 51 units in just a few years.

Shelby shares how she boils everything down into checklists and automated reminders, so she can focus more energy on revenue-generating activities.

Plus, she shares a combination word that's right up there with "liger," "bromance," and "Bollywood": the "BRRRR-nB." In her Deal Deep Dive, she reveals how she picked up a foreclosure property, transformed it into an Airbnb to generate big-time cashflow, and expects to pull all her money out so she can do it again and again!

A former U.S. Army captain, Shelby is a serious go-getter and you won't help but be energized by her "no excuses" approach to life – colorful language and all ;) Oh, and before you leave this page be sure to check out her checklist for startup your own real estate meetup below! (If you can't see it on your phone, head over to biggerpockets.com/show406.)

In This Episode We Cover:

How Shelby transitioned from Army life to real estate agent and investor life
How she finances her deals with a combination of bank loans, hard money, private money and lines of credit
The details of her ongoing "BRRRnB" deal
How she saves time by using email templates and automated follow-up sequences
How to set up your business to run on autopilot so you don't have to rely on your (unreliable) brain
Building a community to attract talented people with positive attitudes
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show406

405: Investing in the Only True Recession-Proof Asset: Yourself! with Lewis Howes Oct 04, 2020

Do you have fears and insecurities that hold you back from the life you envision? No? OK, well we'll see you next week... But really: this topic gets to the heart of why so many real estate investors quit, fail, or never even get started at all.

Today's guest, Lewis Howes, has been studying these concepts for the past 13 years as host of the hit podcast School of Greatness. It all started as an effort to climb out of a major low point in Lewis' life, when he was broke and sleeping on his sister's couch... having crashed out of a brief arena football career.

In this episode, you'll learn how Lewis learned to hack his self-limiting beliefs by systematically putting himself in situations (Toastmasters, salsa dancing, public speaking) that utterly terrified him. And he shares some practical exercises you can do to achieve greater confidence and self-mastery.

Plus -- as a LinkedIn expert with a far-reaching network of connections, Lewis also opens up about how to effectively network on social media and elsewhere.

Don't miss this weekend episode of the BiggerPockets Real Estate Podcast, and give Lewis a shout on social media you take him up on his challenge to write a mission statement for your life!

As always: if you're enjoying these shows, the best way to show your appreciation is to rate and review us on Apple Podcasts. It really helps us out!

In This Episode We Cover:

Climbing out of a hole when he had no money and no marketable skills
Overcoming fear of public speaking
Two practical exercises to confront your biggest fears
The clarifying power of writing a personal mission statement
The LinkedIn message formula Lewis used when reaching out to powerful people
Choosing a niche, then a sub-niche
The 3 magic words that multiply your chances of getting a deal or upgrade
The one common trait shared by all the top performers he's interviewed
And SO much more!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show405

404: How a Mailman Was Able to Quit His Job Through Real Estate Investing with George Gipson Oct 01, 2020

We frequently talk about networking as a real estate investor: for example, talk to your mail carrier because they likely have seen opportunities in your neighborhood. But what if you are the mail carrier?

Today’s guest, George Gipson, worked for the USPS when he started investing, which seems like the perfect opportunity for finding deals. But as with any start in real estate investing, it isn’t always as easy as it seems.

In today’s episode, we talk about taking action and committing to yourself - to ensure that those key opportunities actually work in your favor. We also talk about how important it is to learn your personal finances before diving into investing, plus how George used house hacking and short-term renting to reach financial freedom at an early stage of his investing. He’s even quit his job at USPS now so he can focus full-time on real estate. This is a real story about getting it done and seeing your own potential.

In This Episode We Cover:

Investing that doesn’t meet your standard rules of thumb
Overcoming issues that might be deal-breakers for other investors
Living for free through house hacking and short-term renting
Setting up your short-term rentals for success
Utilizing your network to find deals
Pushing through your commitment to yourself, even when it isn’t easy
Finding the path in life that’s right for you
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show404

403: Developing a Millionaire’s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason Drees Sep 27, 2020

Whoa.

Today we have the man Brandon credits with helping him "go big" in business and life: his performance coach, Jason Drees. In fact, Jason works with a bunch of real estate investors... and today he shares tools for getting your mindset right and getting out of your own way as you grow your portfolio!

You'll love hearing Jason explain what a coach does, how he worked with Brandon to turn a weakness (fear of fundraising/rejection) into a strength ($10M+ raised in 2020), and the reason why some of his clients are thriving despite COVID-19.

Plus: about halfway through, there's an absolute gem when the guys discuss the planning models they use to attack challenges. Jason suggests a small but powerful mindset shift, and we're not exaggerating when we say this one tip may cause you to rethink your whole plan... and unleash new potential you didn't know you had!

This is a real, vulnerable episode where both Brandon and David both discuss holding onto identities and beliefs that no longer served them. So what did you think? Let us know in the comments at biggerpockets.com/show403, or in a review on Apple Podcasts.

In This Episode We Cover:

Common ways real estate investors self-sabotage
How Brandon got around his discomfort with raising private money
How our mindset influences our emotions
The BIG difference between the "Decide, Plan, Commit" model and the "Decide, Commit, Plan" model
Avoiding goals that are too specific
Thinking like a millionaire
How to feel empowered in the midst of COVID-19
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show403

402: Identifying Your Best Market, Neighborhood, and Property in 8 Steps with Brandon and David Sep 24, 2020

When it comes to pulling the trigger on a rental property, what we have is a "paradox of choice." So. Many. Options. It's easy to suffer from Fear of Missing Out, and it's even easier to get overwhelmed by the vast array of options out there.

That's where today's show comes in: press play, and Brandon and David will guide you through an 8-step process to closing on that first (or next) rental property.

Along the way, they share the tools (BP Insights) and team members ("Core Four" and more!) they use to guide decisions about where and how to deploy their capital.

Your action steps start with clarifying your goals, then we move to comparing markets and sizing up different neighborhoods using school district ratings and crime data.

Next, we tackling finding a deal – whether you're using an agent, a wholesaler, turnkey provider, or going off-market yourself... and how to avoid getting into trouble by "trusting your gut and hoping" when you're in an unfamiliar territory.

If you invest out of state, should you fly out? What about systems and standard operating procedures once you've got a tenant in the property? We answer all those questions, and more.

Finally: We mention it a few times in this episode, and if you want to take advantage of our awesome new Pro benefit, BPInsights, use the discount code BPDATA for 20% of a Pro Annual membership.

You'll get access to exclusive BPInsights Facebook group, a bonus webinar showing you how to use this platform to identify a market, and a bunch of other great Pro benefits including unlimited calculator use. Oh, and be sure to use that discount code before it expires on October 1st, 2020!

In This Episode We Cover:

Comparing the Cashflow vs. Appreciation potential of various markets
Rent-to-Price and "Rent-to-Income" ratios + other indicators
How to find market rents, crime data, and school district info
The one team member you should seek out to double-check your assumptions about a neighborhood
Various types of deal finders and the pros and cons of working with each
What to consider when working with turnkey providers
Using BPInsights data in your quest for a property
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show402

401: Follow these Steps to Get People to Know, Like, and Trust You with Jordan Harbinger Sep 20, 2020

Welcome to the brand new Sunday edition of the show – where we go beyond tactics and focus on the "mind game."

In this premiere episode, you'll learn about the easy, free practice that might just be the highest ROI use of your time... and there is no one more qualified to teach this than Jordan Harbinger.

Jordan brushes aside common myths about transactional "networking" using business cards or annoying LinkedIn messages. Instead, he shares the proven system he's used to build a world-class network. In fact, Jordan's strategies are so effective, the CIA and MI6 intelligence agencies hired him to teach them to their agents!

So, how does this apply to real estate investing? Well.. what would it be like to have a solid stable of connections to mentors, private lenders, and people who actively look for opportunities for you? We're talking about people who you know would pick up your call. This show breaks down exactly how you can build those kind of relationship without changing your personality – even if you think you don't have a ton to offer the other person.

Here's our challenge to you: put just one of these strategies into practice in your business this week, and see what happens. Hit us up on Instagram (@beardybrandon and @davidgreene24) to show us you did it! And remember, without committing to a system and following up, you won't get results.

Let us know what you think of this new iteration of the BiggerPockets Real Estate Podcast. And if you're interested in more conversations like this, check out Jordan's podcast, the Jordan Harbinger Show, wherever you listen to us.

In This Episode We Cover:

Why intentional networking is so crucial for real estate investors
How to take full advantage of your time at real estate meetups
His "Connect 4" system for reengaging with 4 people ("weak and dormant ties") each week
How to generate social capital
How to avoid strictly transactional relationships
The right way to introduce two people to each other over email
Developing confidence and overcoming shyness to succeed in the business world
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show401

400: “This Advice Changed My Life” with Brandon and David Sep 17, 2020

Over 400 episodes, we've absorbed a lot of hard-won real estate investing wisdom from our guests. Pretty tough to boil down to 10 concepts... but that's exactly what Brandon and David set out to do on today's show!

You'll hear them outline each principle, cite the person they learned it from, and bring it to life with real-world examples from their own investing experience as well as those of previous guests.

It's a fitting tribute to a major milestone for the show, and we hope it inspires you to revisit some classic episodes and implement this advice in your own business right away.

Thank you for supporting us; we sincerely appreciate you. If you like what we do, can we ask you to take 30 seconds to leave us a rating and review on Apple Podcasts? Every single one helps, and seeing your feedback motivates us to create more value on the road to episode 500!

In This Episode We Cover:

Playing "great defense" with your spending
The danger of jumping the gun with the wrong tenant, deal, or partner
Focusing on one niche until you're a master
Asking yourself exactly what you need to achieve your vision
Ways your ego can cost you money in real estate investing
Tracking results and constantly improving
Only investing in assets you know well
Why you should strive to be great at your day job
Why bigger deals aren't necessarily more harder
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show400

399: Solving the Investor/Contractor Relationship with Jeff Thorman of HomeRenovisionDIY Sep 10, 2020

Today we’re swerving a bit from tradition to bring you a guest who is not a real estate investor. Jeff Thorman spent years as a general contractor, built his own company, then started his own YouTube channel, HomeRenovisionDIY, to teach people how to renovate their own homes.

Learn from his years of experience renovating in this episode. Jeff brings us incredible tips on building strong relationships with contractors - from inquiry to project close. We discuss the importance of using quality materials in any project. We even dive into some projects you should absolutely be able to do-it-yourself as an investor. As a real estate investor, you will have to complete renovation projects at some point - use this episode to make sure those projects are seamless and successful!

In This Episode We Cover:

Learning the contractors’ perspective
The importance in using quality materials and building long-term solutions in your properties
Shopping directly from suppliers to save money on big rehab projects
Creating systems to retain quality contractors
Understanding the real cost of low-cost materials
Upgrades to improve your rental property and decrease vacancy
How to ask a contractor to walkthrough a project before you buy it
How to spot houses with cosmetic fixes vs. big, expensive projects
Newbie DIY projects anybody can tackle
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show399

398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl Yarber Sep 03, 2020

When Tarl Yarber last appeared on the show (#189), we got a behind-the-scenes look at his monster house flipping business.

He was doing a lot of volume, but here's the catch: he was stressed out and unhappy. Plus... with zero rentals to his name, he had to keep spinning the hamster wheel – "feeding the machine" – to make any money.

Today's show is about a big mindset shift, and the systems and teams Tarl put in place to create a business that truly serves him, rather than the way around... and allows he and his wife to travel 200 days a year while working on his business rather than in it.

We cover a lot of topics here, from high-level success principles to the specific real estate investing actions you can take – today – to adopt a more intentional and focused approach to building longterm wealth.

Lastly – Tarl's an exceptional networker, and the guys discuss the importance of meeting up with other rockstar investors even if the pandemic is preventing you from doing it in person.

So... how do you do that?

Well, Tarl's hosting a virtual conference September 18-19, and he's offering a 50% discount to BiggerPockets Pro members (check your email). This isn't a series of webinars, either... You'll be able to actually meet up with other attendees through online breakout groups, so it solves for the biggest challenge most investors are facing right now.

Follow this link to http://virtualwealthexpobp.com/ to snag your ticket today!

In This Episode We Cover:

The many advantages of the Buy, Rehab, Rent, Refinance, Repeat (BRRRR) Strategy
Creating multiple exit strategies when BRRRR'ing
Why sketchy tax deductions can hurt your longterm wealth
Designing your real estate investing strategy to fit your desired lifestyle
How Tarl and his wife mapped out their vision on butcher paper
Making a "To Do" List and a "To Don't" List
Why businesses need to be able to "scale down" in times like these
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show398

397: Live Calls! A Travel Nurse, a College Student, a High-End Flipper + More BP Members Put Brandon, David, and J Scott on the Hot Seat Aug 27, 2020

In today's episode we open up the phone lines again to field your real estate investing questions... and for an added twist, we bring in the familiar voice of author, BiggerPockets Business Podcast host, and house flipper/investor extraordinaire J Scott.

You'll hear callers chime in with questions like: 1) "Help me get started" 2) "should I partner with family members?" 3) "How do I transition from single family to multifamily" – and much more! From refinancing and the finer points of BRRRR... to mentorship and long-distance investing... It's all here!

Tell Brandon and David what you think of this new format in the show notes at biggerpockets.com/show397. We want to hear from you, too!

396: Post-COVID-19 Investing and Landing Great Deals at Auctions with David Osborn and Aaron Amuchastegui Aug 20, 2020

No one knows where the real estate market is headed next... but with an estimated 30 million Americans out of work, wouldn't you like to know how to buy foreclosed properties, step-by-step?

That's what you'll learn today, from two investors who have completed over 1,000 deals each: David Osborn and Aaron Amuchastegui. They begin the show by sharing their thoughts on today's economy (hint: they've kept plenty of cash cash on hand), then walk us through their 5-step process for successfully bidding on foreclosed properties at auction.

From building a list of properties, to lining up funding, to checking title and actually making your bid, you'll learn how David and Aaron (+ thousands of other investors) built serious wealth buying up distressed properties after the last big crash. This skill set is another tool to add to your tool belt, and whether there's another wave of foreclosures coming or not, you can use it to build serious wealth.

For more, pick up a copy of David and Aaron's new book, Bidding to Buy: A Step-by-Step Guide to Investing in Real Estate Foreclosures. And check out the show notes at biggerpockets.com/show396 for a transcript and other resources.

In This Episode We Cover:

The impact of COVID-19 on various assets
Why David Osborn is keeping a heavy cash position
How the foreclosure process works (notice, etc.)
What a foreclosure auction (sometimes called a "trustee sale") is
The 5 Steps to buying at auction
Why it's so important to drive by every property you plan to buy
Aaron's first auction experience as a newbie
How to deal with a lien on a property
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show396

395: From Car Valet to $100k/Month... Seriously! with Thach Nguyen Aug 13, 2020

Today: a no-excuses, American Dream story that will get you fired up to go hunt down a deal!

Thach Nguyen is an investor and agent in the Seattle, Washington area. When he was a kid, his family fled Vietnam for the U.S... he later parked cars at a Chinese restaurant... and despite becoming a top-producing agent building a monster portfolio of paid-off rental properties, he's still hungry and shows no sign of slowing down.

In today's episode, Thach (pronounced "Thatch") shares the lessons he learned during the Great Recession, his criteria for buying a "perfect BRRRR"... and why he says there's no shame in living with mom and dad to save money!

Plus, the guys discuss the pros and cons of paying down mortgages, the psychological advantage of owning your primary residence free-and-clear, and Thach's favorite (free) lead generation strategy.

We think you'll love Thach's energy; he thinks big and will motivate you to do the same. Give him a follow (IG: @thachnguyen) and let us know what you think of this episode!

In This Episode We Cover:

How Thach created $100k/month (!) in rental income
Why he's focusing on the affordable housing niche
Buying townhouses in Seattle, WA
Buying a "micro-apartment" building in Oakland, CA
And SO much more!

Links from the Show

394: Making a 25 Deal/Year Business (and Marriage) Work... Together! with Elliot and Chrissy Smith Aug 06, 2020

Ever considered partnering up with your spouse or another family member?

Today's guests Elliot and Chrissy Smith did just that when they left stable careers to flip, wholesale, and buy rental properties together in Washington state.

Running the business together wasn't easy on their marriage. In fact, they almost got divorced. Fast forward to today... they're happy, doing 25 deals/year, and building long-term wealth by steadily buying rental properties.

So, what adjustments did they make?

In this episode Elliot and Chrissy share what they've learned about defining roles, managing cashflow, and finding work-life balance as young parents who happen to be business partners. It's a rare inside look at the ups and downs – and risks and rewards – of running a true family business.

As die-hard fans right remember from his appearance on Show #255, Elliot is a skilled negotiator... and today he shares a surprisingly simple negotiating tip for those nerve-wracking kitchen table conversations with homeowners.

Look: you gotta love a couple who hires a babysitter just so they can drive around looking for distressed properties (a move which led to today's Deal Deep Dive). So check out this episode, and share it with your spouse, friend, or family member who you think might enjoy it!

In This Episode We Cover:

How Elliot and Chrissy divided their business into "lanes"
Their first taste of success with direct mail
Leaving full-time jobs to pursue their dreams in real estate
Dangers to be aware of when teaming up with your spouse
Showing a seller the math behind your offer
Plowing the cash from their flips into buy-and-hold rentals
Using the same exact same materials on every flip
Incentivizing a contractor by offering a profit share
Why they've slowed down their marketing in recent months
Elliot's cold call center for real estate investors
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show394

393: Campus Maintenance Man to $10M in Real Estate Owned with Rick Jarman Jul 30, 2020

Real estate investing... old school!

Rick Jarman (@realestateoldschool on Instagram) joins us today to share some of his hard-won wisdom from 44+ years as a flipper and landlord in Tuscaloosa, Alabama. And it's quite the journey, from cabinet maker and campus maintenance man to cigar-puffing 64-year-old social media influencer!

In this episode you'll hear tales of up markets, down markets, losing it all, getting it all back... and a tornado that wiped out 20 of Rick's 100+ rental houses. He also takes us through his rules for tenant screening, explains why he favors 15-year mortgages, and paints a picture of what it's like to self-manage such a large portfolio of single family homes (with a team, of course).

Give Rick a follow, and if you know someone who'd make a great guest on the BiggerPockets Real Estate Podcast send them over to biggerpockets.com/guest where they can apply to appear on the show.

In This Episode We Cover:

How Rick went from maintenance guy to owning 100+ properties
Selling his truck to buy his first rental in 1981
Investing lessons learned through 4 recessions
Why his rentals saved him when his home building business failed in the late 90s
Losing 20+ houses in a tornado in 2011
Rick's tenant screening process
Why tenants' credit scores don't tell the whole story
Wrapping 40+ houses into one loan
Why some investors "get bored with what works"
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show393

392: $12,500 per Month in 'Pure Cash Flow' With Todd Baldwin Jul 23, 2020

A $1 million net worth before the age of 30... through frugality and creative real estate investing!

That's what Todd Baldwin's achieved in a few short years, riding the red-hot Seattle housing market by repeat house hacking, renting by the bedroom, and living way below his means.

Sure, Todd's benefited from appreciation, but he's also generating monster cash-on-cash returns across his 6 rental properties. And today, you'll learn just how he's doing it: how he finds pocket listings, why he favors new construction, why he pays for a $2,000/month service most landlords would never dream of providing, how he limits roommate drama, and much more.

Wondering if this is legal? We discuss that in detail. Oh, and get this—Todd's all-time vacancy rate? Zero percent. So if you're in a high-priced coastal market, you need to listen to this show. And if you don't, we can pretty much guarantee you'll still enjoy it and pick up a few landlording nuggets along the way.

Know someone who might put Todd's strategy to use? Share this episode with him or her today! And make sure you're subscribed to the show so you won't miss us next week.

In This Episode We Cover:

How Todd makes $12K+ in pure cash flow by renting by the bedroom
Why he buys new construction rather than fixer-uppers
Why he pays for all utilities
The legalities of renting by the room
The dangers of buying a property with a homeowner's association (HOA)
Using a Tinder-like app to find roommates and tenants
Why he hires maids to clean each of his 6 properties weekly
His system for preventing conflicts among roommates
How complementary skillsets make for great business (and romantic) relationships
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show392

391: Your Real Estate Questions Answered, Live! with Brandon, David, and BP Nation Jul 16, 2020

Live calls, Dave Ramsey style!

In this episode we open up the phone (er, Zoom) lines to take audience questions on everything from "should I flip or hold this deal" to "Coronavirus cost me my job... how can I invest now?"

Brandon and David offer also advice on house hacking, Home Equity Lines of Credit (HELOCs), appraisals, and the pros and cons of tapping a retirement account to jumpstart a real estate investing career.

We'll be back to our regular programming next week... but let us know what you think of this format. And if you've got 30 seconds to leave us a rating and review in Apple Podcasts, we wouldn't be mad at that either.

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show391

390: 7 Figures from ONE Deal with Leka Devatha Jul 09, 2020

From fashion design work in India, to a corporate career with Nordstrom... to leaving that career to flip 40+ houses in 6 years – all in one of the hottest markets on the planet!

Seattle investor Leka Devatha has quite a story to tell, and a lot of hard-won wisdom too! From her 6 tips for finding and keeping great contractors, to the exact criteria she uses when looking for a flip opportunity, Leka spills the beans and outlines a framework you can apply whether you choose to flip, BRRRR, wholesale, or buy and hold.

We cover a crucial tax tip for anyone hiring a contractor, ever. Leka shares an unexpected silver lining brought on by the pandemic. And your mind will be blown when she tells how a "cosmetic" flip opportunity morphed into 3-year odyssey and wound up rewarding her with a 7-figure (yes, 7-figure) payday.

Give Leka (pronounced "LAY-kuh") a follow on Instagram and let her know if you appreciate this episode... and make sure you subscribe to the show in your favorite podcast app, so you won't miss the next one.

In This Episode We Cover:

Flipping 40 homes in 6 years
A "cosmetic flip" that turned into a 7-figure (!) profit through the magic of subdivision
Why you should get to know the land use planner in your city
Leka's system for finding and retaining great contractors
How to start a real estate meetup
Why virtual networking amid COVID-19 is more efficient
Why she pays her broker a commission even if she keeps a house as a rental
Leka's criteria for a great flip opportunity
What W-9s are and why it's so important to get them signed up front
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show390

389: He Changed His Strategy & Is Now Making $1M/Year! With Mike Simmons Jul 02, 2020

Are you tired of toiling in the trenches... and ready to run a business that cranks out profits without your constant involvement?

That's what today's guest has managed to do! In this episode, Michigan-based investor Mike Simmons shares exactly how he went from moderate success to $1 million in annual profit.

You'll learn why Mike switched gears from flipping to wholesaling real estate, what he's learned from spending hundreds of thousands of dollars on various marketing channels, and the four-point checklist you must use when considering any kind of partnership.

Ultimately, expert marketing tactics are fine and well. But to scale, you've got to master leadership and hiring—topics Mike covers in great detail here and in his new book, Level Jumping.

So pick up a copy (see link below), and share this episode with a friend, family member, or fellow investor who you think would enjoy it!

In This Episode We Cover:

Mike's remedy to cure a bad case of "analysis paralysis"
Why he switched gears from flipping to wholesaling
Why wholesaling is NOT always a great thing for newbies
The marketing channels Mike uses to do 100 deals per year
Ultra-specific direct mail tips (from a guy who's sent hundreds of thousands of dollars of direct mail!)
What most do wrong with direct mail marketing
How he made a $50K assignment fee and the key lesson he learned
Hiring and managing transaction coordinators
Hiring his first salesperson on a "straight commission" pay structure
Using personality assessments like DISC and Kolbe when hiring
Why intelligence is not the most important predictor of success in real estate investing
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show389

388: The 7-Step “Playbook” for Scaling Your Real Estate Business With AJ Osborne Jun 25, 2020

Do you dream of stepping back from the day to day and working on your business rather than in it? Of course you do!

AJ Osborne has achieved that goal—and having experienced a harrowing health emergency that incapacitated him for months (see show 286), this Boise, Idaho, investor is ultra-qualified to discuss the value of documenting, delegating, and streamlining your real estate business so it can run without you.

AJ owns and operates over 1 million square feet of self-storage. Today he breaks down the seven-step process he uses to improve operations, unlock hidden value, and scale fast.

If you're thinking, "I don't do deals that big," rest assured: AJ reveals that he actually lost money on his very first deal but gained a ton of wisdom, which he's generous enough to share with us today—and which applies across the board.

Plus, AJ shares a tip on financing deals that may totally change the way you think about growing your portfolio!

Check him out, and pick up a copy of his book, The Investor's Guide to Growing Wealth in Self-Storage: How to Turn a Real Estate Asset into a Thriving Business.

387: Time Freedom Through 7 Deals in Her First 3 Years With Megan Greathouse Jun 18, 2020

On today's show: the massive impact of just a few flips and a few small multifamily rental properties.

Starting in 2017, that combination allowed our guest Megan Greathouse to step aside from her W-2 job (her husband still works) and spend much more time with her two young kids... all while dedicating just 5 hours per month to self-managing her portfolio in St. Louis.

Want to know how she did it? Megan spells it all out in this episode and provides the exact tools and templates she uses to maximize her efficiency—enabling her business to serve her and allowing more time for what really matters.

Give Megan a follow, and share this episode with a friend, partner, spouse, or family member who you think might enjoy it!

In This Episode We Cover:

Starting out with a fourplex
Investing with a full-time job and kids
The P.R.O.P. system for property management
How Megan and her husband use the "2 in 5 Rule" to avoid capital gains taxes
How she uses real estate to create time freedom and hang out more with her kids
Flipping an old house near Washington University in St. Louis
A BRRRR "fail" (contractor issues) that turned out OK
Lessons she learned in the military
The key to avoiding analysis paralysis: "Get to 80% and go!"
Buying a 60-acre farm outside the city
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show387

Still Doing Deals... Thanks to These 2 Pivots With Marcus Maloney (Part 2, Post-Coronavirus) Jun 12, 2020

Yesterday, Marcus Maloney showed us how he built his deal-finding machine. Today, he tells us how he's hanging onto it by making two big shifts in his business.

When the pandemic hit, lenders got nervous... and that put a couple of Marcus' deals in danger. So did he give up? No! He tapped his own network of private lenders to provide financing to his end buyers—a win-win-win.

Plus, Marcus tells us why he's shifted focus to the Midwest since we first spoke and how he worked out a deal with a "great tenant" who wound up unemployed and unable to pay rent.

Wondering how to adjust your business to the new normal? Check out this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next one.

In This Episode We Cover:

The problems Marcus ran into in mid-March
How he plugged the gap with private money
Developing relationships with private lenders before you really need them
Why he's concentrating on a lower-priced market
How he negotiated with a resident who could no longer afford rent
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show386-5

386: Starting Out With $200 and Investing for Profit AND Cash Flow With Marcus Maloney (Part 1, Pre-Coronavirus) Jun 11, 2020

From "bad drug dealer" in his youth... to earning a master's degree, then jumping into real estate at age 36 and crushing his first deal!

Today, Marcus Maloney shares his wild ride in Part 1 of two episodes this week. This one was recorded before the coronavirus pandemic, so we don't discuss that topic. Tomorrow, we'll dive into how Marcus pivoted to keep doing deals in these trying times.

In this episode, you'll learn how Marcus used just $200 to launch his career, how he acquired nine rental properties, and how he's completed dozens of local (Phoenix) and long-distance (Chicago) real estate transactions.

He also discusses the strategies he's using to generate leads, how he builds trust with both sellers and buyers, and how he works with acquisition managers, who take a cut of the deals they bring him.

Plus—the guys have a great conversation about performance coaching and why the thing that's holding you back probably isn't something you're going to fix at a real estate boot camp.

Marcus was nice enough to take some time out from riding his Harley to share some of his hard-won wisdom, so say hello to him on the BiggerPockets Forums, where he's a frequent contributor.

And don't forget to subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next show!

In This Episode We Cover:

How Marcus "flipped piglets" as a boy
How a rescinded job offer led to him to pursue real estate
The personal development he had to do to become a successful real estate investor
Direct mail marketing
Closing deals on the phone
Attracting partners by creating valuable content
Why Marcus lives in Phoenix but buys rentals near Chicago
What separates successful "bird dogs" and wholesalers from those who give up
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show386

385: Once Homeless, Now Investing in an Expensive Market (With No Money of His Own) With Greg Gaudet Jun 04, 2020

Flipping with no money down... in Hawaii? You heard that right.

Greg Gaudet actually considers himself "risk-averse" and still holds a full-time job, but he's able to make nice chunks of change by hustling to find deals and managing rehabs for Brandon's team on Maui.

Today, Greg walks us through his journey from "rock bottom," including bouts with addiction and homelessness, to living the life of his dreams, buying a Porsche cash, and owning a handful of properties free and clear.

You'll learn the right way to approach investing in condos, how to bring value to a potential partner or mentor, how Greg manages risk by keeping his living expenses low, and the mindset shifts that allowed him to 1) get clean and 2) "get out of his own way" in the real estate business.

This is truly one of the most powerful stories we've told on the BiggerPockets Real Estate Podcast, and it's guaranteed to get your wheels spinning!

In This Episode We Cover:

How tragedy shaped much of Greg's early years
Bad advice he received when jumping into investing
What to look for (and avoid) when investing in condos
How Greg bought a condo for less than 50¢ on the dollar
How he and Brandon structure their flip deals
How anyone can flip without risk—if they're willing to work
Greg's "why" (and his paid-for Porsche)
How to approach a mentor without making it awkward
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show385

10 Deadly Mistakes Real Estate Investors Make with Brandon and David May 29, 2020

After yesterday's deep dive interview discussing 2 disastrous flip projects, we have a solo show for you today.

And the title says it all, really.

Brandon and David boiled down nearly 400 podcast episodes, countless forum threads, books, and real-life conversations, and their own missteps and now present: the Top 10 Ways Real Estate Investors Lose Money.

These aren't the only ways to go wrong in this business, but at some point you're in danger of falling into at least one of these traps.

So, what did we miss? Let us know in the forums, the comments section on our show notes, or in the Official BiggerPockets Facebook Group. And be sure to subscribe to the BiggerPockets Real Estate Podcast so you won't miss an episode.

In This Episode We Cover:

Focus vs. spreading yourself too thin
The #1 way to lose money that you haven't thought of
Managing the people who manage your asset
What David calls "Spreadsheet magic"
Investing in areas with diverse employment
Over-renovating after watching too much HGTV
Inheriting tenants from a seller
Evaluating real estate agents
The myth of "more money down = more safety"
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show384-5

384: Losing $60k on His First 2 Flips so You Won't Have To with Spencer Cornelia May 28, 2020

You can put a dollar number on the losses Spencer Cornelia took on his first two long-distance flips... but it's hard to quantify the value of the lessons he learned and is now passing on to you.

We noticed Spencer's thread detailing his struggles in the BiggerPockets forums and invited him on the show; he bravely accepted.

In this episode, you'll learn the pitfalls to watch out for when taking on heavy renovations (anywhere, but especially long-distance), how to ensure quality work is getting done, and the dangers of letting projects drag on when you're locked into expensive short-term financing.

Plus, it's not a total downer... because Spencer's seeing a bunch of success with his new Youtube venture, and plans to continue investing in (less aggressively leveraged) real estate projects.

Brandon and David add their own perspectives having made some similar errors in their careers, and tomorrow in Part 2 they'll break down the 10 Deadliest Mistakes Investors Make.

New investors: heed the advice in these two shows! And as always: run your numbers conservatively, know your own risk tolerance, and run deals by trusted advisors before jumping in.

In This Episode We Cover:

What went wrong with Spencer's rehabs
How to ensure contractors are doing quality work
Incentivizing team members and keeping them accountable
How much money he paid in interest and fees to his hard money lenders
Functional obsolescence and complications with older homes
Why you can't always trust an appraisal
"Home buyer turnoffs" and why it's easy to miss them
Why Spencer sold and took a loss rather than choosing another exit strategy
Why he's not giving up on real estate
How you can "go broke buying good deals"
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show384

383: Finding Your Perfect Partner and the Top 6 Factors When Choosing a Market with Ben Leybovich & Sam Grooms May 21, 2020

Interested in someday making the leap to bigger investments? Don't miss this one!

Ben Leybovich and Sam Grooms join us for a high-level conversation about how they transitioned from flips and smaller assets to 100-plus-unit, value-add multifamily deals.

Since the first part of this show was recorded pre-coronavirus, we brought the guys back on to hear their thoughts on today's market and get an update on how their business is doing amid the volatility (spoiler: pretty well!).

In This Episode We Cover:

Finding the perfect partner for you
The 6 factors they look at when analyzing a market
Why Sam & Ben keep such a large reserve fund
Why investors sometimes overvalue cash flow
Why they like the Phoenix market
How to establish a competitive edge in real estate investing
How they look at multifamily syndication as "a long flip"
Why equity protects you
Buying insurance against interest rate increases
Hiring their own construction team
How they're adjusting to COVID-19
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show383

Surviving When the BRRRR Hits the Fan with Josiah Smelser (Part 2, Post-Coronavirus) May 15, 2020

What happens to a no-money-down BRRRR investor when a pandemic breaks out, lending standards suddenly tighten, private money lenders get skittish, and property values quickly drop?

Today, Josiah Smelser returns to the show and tells all.

In Part 1 yesterday, we learned how Josiah built a $4M portfolio by buying, renovating, renting, refinancing, and repeating using both hard money and private money.

Coronavirus hit him hard. And if he didn't have cash reserves, credit options, and the right mindset, it might have totally wiped him out.

When the virus hit, Josiah had 10 properties he needed to refinance. It was a perfect storm: His private money lender immediately pulled funds, his refinance bank changed their terms, and property values dropped—all at once—meaning he would need to bring way more cash to the table.

What happened next? Listen to this episode to learn about how Josiah made it through the nightmare and came out on the other side... with more equity and reduced interest payments.

Real estate investing isn't all sunshine and rainbows. But if you keep your mind right, plan your exit strategies, and maintain cash and credit lines, you too can survive the curveballs thrown your way.

In This Episode We Cover:

What happens when private lenders want their money back
Why Josiah's bank changed the loan-to-value ratio on him
Tapping a cash-out refinance in an emergency
Trying to sell a property you had planned to BRRRR
Taking out loans in your spouse's name to get around loan limitations
Key to pulling off a BRRRR in a down market
How Josiah saved $750K in interest over 30 years by getting a lower interest rate
How an attorney can help you arrange a great partnership
Why Josiah looks at this stressful time as a highlight of his real estate investing career
And SO much more!

Links from the Show

Check full show notes here: https://www.biggerpockets.com/show382-5

382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus) May 14, 2020

Today we bring you Part 1 of back-to-back episodes with real estate investor/appraiser/author/all-around good guy Josiah Smelser.

This first conversation was recorded pre-coronavirus lockdown, but it's packed with tips you can put into action today. You'll learn how Josiah solved the #1 bottleneck in his business (capital!), allowing him to BRRRR at scale and rack up rental properties with very little money out of pocket. Even more impressive: he's doing it long-distance (The properties are in Dallas, TX and Josiah lives in Huntsville, AL.)

And if that weren't enough, the guys go in-depth on appraisals – and the techniques you can use to help appraisers see your side of the story. Josiah's a longtime licensed appraiser, so he speaks from experience... and he shares his playbook for giving yourself the best chance to pull all your money out of your deal.

If you like what Josiah has to say, then be sure to check it Part 2 tomorrow. We bring him back on, post-COVID-19, to discuss the serious challenges he's faced: lenders pulling out, property values dropping, and even a domestic violence issue at one of his rentals.

The good news: he made it through. Tune in tomorrow to hear how!

In This Episode We Cover:

Why Josiah sold his properties pre-2008 crash (and why he still regrets it!)
Combining hard money and private money to BRRRR with no money out of pocket
How Josiah uses "boots on the ground" partners to invest at a distance
Why he analyzes 8-10 deals per day
Buying houses sight unseen
Why BRRRR investors must keep cash reserves
How to talk to appraisers (like getting out of a speeding ticket!)
Why a property's list price is irrelevant
Deals... on the MLS, in 2020?!
The square footage trick that's made him thousands of dollars
Losing out to a lower offer on a big multifamily deal
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show382

381: 5 Rules for Investing in a Down Market with Tucker Merrihew May 07, 2020

Can you flip, wholesale, and buy rentals throughout a downturn?

Yes... IF you heed the advice given out in today's episode.

Our guest Tucker Merrihew is more than qualified to tackle this subject, having launched his real estate business in Portland, Oregon, in 2008—during one of the worst housing markets of all time.

In a rare "Double Deep Dive" segment, Tucker walks us through a couple TTM Development projects from 2009 and reveals exactly what he did right and wrong at the time.

As for the coming months... you'll learn which types of properties to avoid, which price ranges to target, and why renovating old homes can be risky business at this stage of the market cycle.

Plus, Tucker explains why he underwrites every deal at 3 different prices to make sure it passes his "Oh $#!# Test" if the market goes south.

Tucker is a seasoned pro with hundreds of deals under his belt, and he shares tons of valuable information for free in this episode. Be sure to subscribe to the BiggerPockets Real Estate Podcast for more tips on investing safely while taking advantage of the opportunities ahead.

380: Profitable Landlording in a Crisis with Mike Butler, Chris Clothier, and Dave Poeppelmeier Apr 30, 2020

Feeling like you're in uncharted territory as a landlord? You're in good company!

Today's show walks you through how to ethically and profitably manage rentals through the COVID-19 outbreak and beyond.

Brandon and David sit down with Mike Butler, acclaimed author of Landlording on Autopilot; Chris Clothier, partner at REI Nation (formerly Memphis Invest); and Dave Poeppelmeier, owner of eight houses in Toledo, Ohio.

You'll get a ton out of this panel discussion, including exact scripts for communicating with non-paying residents, strategies for connecting tenants to government resources, a discussion about "deferment" vs. "forbearance," and much more.

Mike (500+ units), Chris (6,000+ turnkey units), and Dave (8 properties, mostly student rentals) are all in different markets and at different stages of their investing careers... so you're guaranteed to learn something you can apply in your business today.

Enjoy this episode, jump on the BiggerPockets Forums to connect with fellow investors, and subscribe to this show in your favorite podcast app so you won't miss us next week!

In This Episode We Cover:

Mortgage forbearance vs. deferment for landlords
What % of REI Nation's tenants paid April rent
Establishing open lines of communication with tenants
What tone to use in conversations about rent
Why Dave proactively reached out to his renters
Guiding tenants to government resources (unemployment, etc.)
Creating contingency plans
Mike's "Wendy's walk-up window" for rent payment
How to look for better financing in low-interest-rate environments
How to stay organized if you're getting government assistance for your business
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show380

379: What the Numbers Reveal About Today's Rents, Prices, and Top Cashflow Markets with Data Scientist Dave Meyer Apr 23, 2020

There are plenty of opinions out there about where the real estate market is headed next. But what are the numbers telling us?

Today we dig into the data with Dave Meyer, BiggerPockets' VP of Growth and Analytics and a real estate investor himself.

Dave leads BiggerPockets Insights—a Pro/Premium benefit providing current local market data—and he's been looking at data points in the weeks since shelter-in-place orders began to grind the economy to a halt.

So...

Why are rents down? Why haven't prices dropped? And what data should investors be keeping an eye on? The guys tackle those questions and much more in today's episode.

Plus, Dave discusses his list of the country's best 11 cashflow markets adjusted for vacancy and explains what makes them so attractive right now.

Add in a topical "Fire Round" and a breakdown of Dave's "ski for free" Airbnb scheme, and you've got an action-packed episode sure to bolster your confidence in these uncertain times.

Check out this episode of the BiggerPockets Real Estate Podcast, and be sure to subscribe to the show in your favorite podcast app so you won't miss the next one!

In This Episode We Cover:

The top cashflow markets in the country for high value and low vacancy
3 data points Dave looks at when analyzing a new market
Why housing prices haven't fallen much yet
Dave's (cautiously optimistic) forecast on real estate prices
What's happening to rents nationwide
What "income-to-price" reveals about a market
What BiggerPockets Insightsis
How new investors can take advantage of this downtime
The potential of a population shift away from urban centers
How Dave bought an Airbnb in Colorado to "ski for free"
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show379

378: A $500M Syndicator's View on Today's Market and How to Succeed as a "Hands-Off Investor" with Brian Burke Apr 16, 2020

With a recession already underway, we're turning to an investor with 30 years of experience, 3,000-plus multifamily units acquired, and one of the sharpest minds in real estate.

Brian Burke is back today, and he sits down with Brandon and David to offer his interpretation of current events and to guide our audience through how to invest passively without violating Warren Buffett's No. 1 rule: "Never Lose Money!"

Brian explains how his firm Praxis Capital is navigating COVID-19 and shares a few tips everyday investors can use to fortify their portfolios. We also discuss leverage, how lending practices are changing, and techniques you can use today to safeguard your investments against vacancy and drops in valuation.

In the second half of the show, Brian speaks to those interested in becoming "hands-off" investors—whether you want to focus on making money in your day job or just don't want to deal with being a landlord. After all, BiggerPockets has 10-plus books on how to actively get deals done... but none (until now) on how to evaluate passive investment opportunities.

We go over how to meet syndicators, what red flags to look for, how to diversify your investments... and the absolute No. 1 quality to look for in a passive investment (hint: it's NOT the deal itself).

This episode is packed with deep insights into the current market shift, but it's also a timeless lesson in evaluating syndication opportunities.

For more info, check out Brian's new book, The Hands-Off Investor: An Insider's Guide to Investing in Passive Real Estate Syndications, and all the great bonus content, too.

In This Episode We Cover:

How Brian got his start raising capital from his cop buddies
"Bulletproof vests" investors can use to survive right now
Brian's definition of "over-leveraged"
Why Brian is currently more focused on operations than acquisitions
How government stimulus $ may affect the real estate market
How and where passive investors meet syndicators
The #1 quality passive investors should look for in a syndicator
Why the deal sponsor is more important than the deal itself
Diversifying your passive investment portfolio
Red flags to look for when evaluating syndicators
Why "alignment of interests" is overrated
The lesson he learned from a friend who lost her life savings

Links from the Show

Check the full show notes here: http://biggerpockets.com/show378

377: The Riches Are... on the Radio? How to Dial in Your Marketing & Do 100+ Deals a Year with Chris Arnold Apr 09, 2020

Today's guest does 125 deals a year in Dallas—from his home base in the Caribbean.

How? Well, he bailed on direct mail marketing and doubled down on radio ads.

And when others froze up as the coronavirus spread, his team put in new systems and closed a $23,500 wholesale deal... without even stepping foot inside the house.

Chris Arnold zigs when others zag, and today you'll learn how he sets up his business so he can consistently work ON it, not in it... while enjoying a great lifestyle in Tulum, Mexico.

Chris shares timely tips for how to orchestrate deals while maintaining safe social distancing (he even holds "Zoom open houses" with multiple cash buyers at once); breaks down which team member handles each aspect of a transaction; and delivers a fantastic tip for new real estate investors struggling to stay focused.

Plus—Chris shares how advertising on local radio stations has elevated his home-buying business to new levels. Look, he says, you might prefer podcasts... "but you are not your seller!"

We play one of his ads on the show, and he guides us through how to research various audiences and negotiate the best rates with stations.

This show covers it all—from the finer points of buying properties at deep discounts to the mindset shifts Chris has made along the way.

Check it out, and if you enjoyed this please share it with just one family member or friend. We appreciate you, and we'll see you next Thursday.

In This Episode We Cover:

Why Chris runs his business virtually from Mexico
His #1 lead generation strategy: good old-fashioned radio!
3 major demographics he markets to
Why "bouncing" is the reason so many newbies fail
3 shifts he's made to adapt to COVID-19
How he decides whether to wholesale or fix and flip a property
The exact workflow his team uses to work leads from start to finish
How he inspects houses remotely
Closing deals over the phone
How he puts together "Zoom open houses" for cash buyers
How he's finding cash buyers who will buy sight unseen
How the market is reacting to coronavirus
Ways to back out of a contract if necessary
And SO much more!

Links from the Show

Check the full show notes: http://biggerpockets.com/show377

376: 12 Real Estate Rockstars Reveal Their #1 Tip for Surviving (and Thriving) through a Downturn Apr 02, 2020

Strength in numbers!

When you finish this episode, you'll have 12+ action items that could help you withstand the coming economic slump... and perhaps even accelerate your path to financial freedom.

Each investor featured today gives you their top piece of advice for handling an economic downturn: from mindset, to leadership, to specific strategies you can begin to put in place TODAY.

Don't miss this one, and be sure to subscribe to the BiggerPockets Real Estate Podcast for more hard-won wisdom on how to lead your business through the coronavirus crisis and beyond.

In This Episode We Cover:

Why now is the time to write a 10-year vision for yourself
Serving others first, even when our impulse is self-protection
Cutting overhead to preserve cash
Finding creative ways to rent out property
Collecting payments up-front, for a discount
Working with lenders if you're having shortfalls with rent
Investing as a group to hedge risk
Controlling your emotions when the market is volatile
Why you should be building a team NOW
The importance of picking up the phone to nurture relationships
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show376

375: Live Coronavirus Q&A: Resources, Tactics, and Mindset Shifts for Today's Real Estate Investor Mar 26, 2020

Economic upheaval. Tenants losing their jobs. Entire cities shut down.

How should real estate investors operate today?

In this episode, we’re opening up the phone lines and patching in both expert investors (Tarl Yarber, Avery Carl, Justin Stamper) and newbies (Sawyer, Adam, Joe) in various markets across the country.

What you’ll learn: how hard-hit short-term rental operators can adapt to travel restrictions, how to plan for non-payment of rent, which strategies are likely to work best in the coming economic shift, what the heck is going on with interest rates... and much more.

Tell us what you think of this new format, and be sure to subscribe to the BiggerPockets Real Estate Podcast for more on how best to run your business in unprecedented times.

Stay safe and we’ll see you next Thursday.

In This Episode We Cover:

How certain areas of the country are affected
How to find renters at this time
How to make your Airbnb business thrive
Why panic selling is not recommended
The value of working with a partner
What to do if your properties are affected
How the pricing of properties are affected
Various creative financing you can try
Current status of various investors
Why rents never go down
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show375

374: What Real Estate Investors NEED to Know About the Coronavirus, the Economy, and the Problems At Your Door Mar 19, 2020

Rent's due... or is it?

From quarantines to eviction moratoriums to a plummeting stock market, COVID-19 has upended seemingly everything -- and today we talk through what it all means for real estate investors.

J Scott, author of Recession-Proof Real Estate Investing, and Scott Trench, author of Set for Life and CEO of BiggerPockets, join Brandon and David for a roundtable discussion packed with perspective and insight.

We begin with a high-level analysis of today's economy, and discuss how you can fortify your portfolio in the face of a likely recession (there's still time!). Then, the guys take on your most pressing questions -- starting with, "what happens if my tenant doesn't pay rent?"

*NOTE: If you want to skip directly to audience Q&A, that section starts at 1 hour, 5 minutes.*

Whether you're a brand new investor nervous about getting started... or a veteran waiting for the right opportunity to deploy capital, this episode will give you a chance to take a deep breath and assess the playing field.

We hope you enjoy this special episode, recorded March 18... Stay safe, take care of yourselves, and stay tuned for more Coronavirus content across all BiggerPockets platforms in the days and weeks ahead.

In This Episode We Cover:

BiggerPockets members' top questions right now
How to control your emotions when people around you are panicking
Which strategies do and don't work well during downturns
How to approach tenants who have lost income and don't pay rent
The importance of "buying right" and keeping cash reserves
6 ways real estate investors should prep for a recession
How power dynamics in the marketplace will change
Whether you should still be out there looking for deals
How to productively use your time while confined indoors
Adjustable Rate Mortgages today
COVID-19's effect on the overall economy
The effects of Quantitative Easing and 0% interest rates
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show373

373: Invest Locally or Out of State? Why Not Both! BRRRRing & Building with Lee Ripma Mar 12, 2020

Four years ago, Lee Ripma was brand new to real estate. She vowed she'd one day appear on the BiggerPockets Podcast. That day has come.

And we're all better off for it!

In this action-packed episode, Lee traces her journey from full-time field biologist to newbie who jumped straight into long-distance multifamily (wait 'til you hear about her first deal!) to developing apartment buildings in the high-end Los Angeles market.

You'll learn how she formed relationships with local, "boots-on-the-ground" partners on her BRRRR deals in Kansas City, why she came to prefer value-add multifamily deals over BRRRR, and how she's able to find higher and better uses for properties in Southern California.

From looking at our podcast stats, we know a LOT of you are in hot markets like L.A., New York, San Francisco, and Washington, D.C. If you've ever thought to yourself, "My market's so expensive... How can I invest in real estate?"—look no further.

This episode will get you motivated, and it may just ignite your real estate investing career!

Be sure to subscribe to the BiggerPockets Real Estate Podcast, sample the other BiggerPockets podcasts in our network (just search "BiggerPockets" in your favorite podcast app), and as always, if you appreciate this content, please give us an honest rating and review on Apple Podcasts.

In This Episode We Cover:

Why she abandoned the idea of building a tiny house empire
How her career as an environmental consultant prepared her for real estate investing
Why innovation can be overrated
How she screwed up her first deal and still made 28% cash-on-cash
Why choosing a “submarkets” is more important than the general market you choose
Why she shifted from BRRRR to value-add multifamily investing
How she unlocks value in rundown apartment buildings
Finding “boots-on-the-ground” partners for out-of-state deals
How she learned the development game by apprenticing under an experienced investor
How real estate development creates money out of thin air
Tearing down single-family homes and building 4-unit apartment buildings
How she moves projects more quickly by using “prefabricated construction”
Why “value-add” drives the biggest returns on investment
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show373

372: Flipping and Rental Property Investing 2,000 Miles Away with Erin Helle Mar 06, 2020

Securing financial freedom for her family through long-distance real estate investing!

West Point graduate Erin Helle's story starts the day she was ordered to deploy to Afghanistan. She already had a young daughter, and her husband was headed to Iraq.

Something had to change.

Mix in a serious health condition, the result was this: Erin felt forced to take action and build something that would endure and provide for her daughters no matter what.

In this episode, you'll learn which steps she took. From buying new construction, to flipping at a distance, to using a self-directed IRA to purchase a rental property, this show is packed with valuable lessons from an investor who's acquired 20 doors in the span of two years.

Erin shares a powerful story that's sure to make you think hard about the legacy YOU plan to leave behind and what you plan to do to get there.

In This Episode We Cover:

Buying new construction
Generating momentum as a newbie investor
Erin's key performance indicators
Lead measures vs. lag measures
Out-of-state real estate investing
Teaching young kids about money
Why getting your real estate license may be overrated
Why she doesn't "DIY" anymore
And SO much more!

Links from the Show

Click here for full show notes: http://biggerpockets.com/show372

371: Introducing BiggerPockets' Brand New Show: Real Estate Rookie Podcast Mar 05, 2020

More "newbie" content. More "first deal" success stories. Tips, tools, and step-by-step guidance from investors just one step ahead of you.

That's what many of you have been asking for.

And that's what you'll get when you subscribe to Real Estate Rookie, BiggerPockets' newest podcast!

Episode 1 is LIVE now, and it's a gem if we do say so ourselves—check it out here.

In this brief announcement, Brandon and David introduce hosts Ashley Kehr and Felipe Mejia (remember them from episodes 348 and 329?)... and explain WHO would—and wouldn't—benefit from listening to Real Estate Rookie.

You might be asking—is the "OG" BiggerPockets Podcast changing? Or even going away? Not a chance!

In fact, we hope you listen to both shows.

Check out Real Estate Rookie today, and Brandon and David will have another great interview right here tomorrow.

Then next week, you'll get an episode of Real Estate Rookie on Wednesday, and we'll be back to regular programming.

Tell us what you think of the new podcast, join the Facebook group (just search "Real Estate Rookie"), and give Ashley and Felipe a follow on Instagram @wealthfromrentals and @felipemejiarei!

371: 75 Deals at Just 20 Years Old with William Brown Feb 27, 2020

$700,000-plus in wholesale fees—fresh out of high school!

On this show, Will Brown reveals how laser-focusing on “deal flow” allowed him to build a rental property portfolio, build a self-sustaining business, and amass a small fortune… all in a matter of months.

You’ll be blown away by Will’s story of being struck by inspiration while playing Grand Theft Auto at age 18. That led to the BiggerPockets Podcast, and well… you’ll have to hear the rest of his story to believe it.

If you want to know the exact structure of a four-deal-per-month wholesaling business and the specific marketing methods Will uses to reach sellers, check out this episode. He walks us through how he handles leads, how he manages his business from 3,000 miles away, and why he’s handing over the reins to a partner so he can focus on building a technology startup.

This is a fantastic episode highlighting a BiggerPockets member who took massive action, trusted the process, and saw massive results. Download this one, and make sure you’re subscribed to the BiggerPockets so you won’t miss a show!

In This Episode We Cover:

How Will built a powerful marketing machine
How he's able to spend only 30 minutes on each deal
How he prevents leads from slipping through the cracks
Ringless voicemail messaging and text message marketing
Why he prefers wholesaling over flipping houses
How he handles tricky title issues
Why it's never a bad idea to make an offer
Will's artificial intelligence startup
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show371

370: Tax Hacks to Juice Your ROI with Amanda Han and Matt MacFarland Feb 20, 2020

Get to know enough CPAs, and you'll hear the "light bulb" story.

"I was helping this real estate investor with her taxes... and thought, 'Why am I not doing this?!'"

Yes, there are POWERFUL tax breaks available for rental property investors. But you have to know what to look for!

That's the focus of today's episode AND the new book (out today!) from Amanda Han and Matt MacFarland: "The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors."

You'll hear Amanda and Matt break down the basic concepts you need to understand in order to reach your goals, outline the questions you should ask your CPA, and take on the notorious "Do I need an LLC?" question.

You'll also learn about more complex strategies like advanced/bonus depreciation, Opportunity Zone investing, and 1031 exchanges... plus, how short-term rental investors and flippers can optimize their tax strategy.

This episode is packed with free information that is literally valuable—meaning it could save you thousands, or tens of thousands, of dollars!

Download this one, check out the book, and subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next show.

In This Episode We Cover:

How Amanda and Matt ended up doing tax/real estate
What they do and how they help clients
What their new book is all about
How to save tons of money in terms of taxes
Best time to work with a CPA
How an LLC plays into a real estate investor’s life
3 benefits of working with a professional
Importance of having a system in place with the help of tax and legal advisors
How cost segregation comes into play
Who does a cost segregation study
Other things investors should not do on their own
Why it pays to be cautious when it comes to 1031 exchanges
Why buy and hold is preferable over flipping from a tax perspective
Cool things about short-term rentals from a tax perspective
What an Opportunity Zone is and why it matters
What a flow-through entity tax break is
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show370

369: Escaping the Day-to-Day Grind to Work ON Your Business with Jefferson Lilly Feb 13, 2020

Want to step out of your business and finally gain the freedom to think more strategically? Let Jefferson Lilly show you how!

Jefferson is a mobile home park investor, who went from sleeping on an air mattress on-site at his mobile parks to running a lean team and focusing his energy on raising millions from investors.

No matter what stage of your career you’re in or what your preferred strategy is, you’ll get a ton of value out of this high-level discussion about building a “2.0” business that serves you AND your team.

You’ll learn how Jefferson went from acquiring parks “deal by deal” to starting a fund, how he overcame fear to hire several six-figure employees, and how he incentivizes his team to maximize occupancy.

Also, Jefferson breaks down the criteria he uses to narrow down potential deals (including proximity to a Walmart)—AND reveals the four main ways he and his team reach out to mom-and-pop park owners.

This is an awesome show, whether you’re interested in mobile homes or not. So check it out, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next one!

In This Episode We Cover:

The “unfair advantages” of mobile home park investing
4 main methods to find off-market deals
How his team uses brokers to source deals
Hiring 6-figure employees
How Jefferson has raised more than $30M from 200 investors
How he incentivizes his team based on occupancy
2 factors that drive profitability in the mobile home park business
The difference between a “2.0” business vs. a “1.0” business
Jefferson’s biggest career regret
Why he aims to hire “coaches” rather than “cheerleaders”
How and why he started a fund rather than individually syndicating deals
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show369

368: $3,500 per Month From One BRRRR Deal With Palak Shah Feb 06, 2020

On today’s show: accelerated wealth-building through leverage and systems!

Palak Shah walks us through how she built a $4M portfolio in just three years by "supercharging" the BRRRR strategy.

Palak left a career in corporate America to focus full-time on real estate in the Philadelphia area, and she applied her training as an engineer to create airtight processes that help her business run without her.

You’ll love hearing how she finds deals from wholesalers on Facebook, why she’s not afraid to sell off some of her BRRRR properties, and how she creates checklists to determine whether a deal fits her criteria.

Also, we discuss how to beat “analysis paralysis” by remembering her acronym “A.B.L.E.”

Palak is a relatable, inspiring investor who offers great tips for anyone hoping to transition away from a 9-to-5… so check out this episode today, and share it with a friend or family member!

In This Episode We Cover:

Leaving her corporate job to take more control over her time
Why she’s OK paying capital gains tax rather than using 1031 exchanges
Flexing your “risk-taking muscle”
Using hard money for BRRRR projects
Creating “templates” to make investing easier over time
Criticisms of the BRRRR strategy
Why she sells off some of her BRRRR properties
Using local banks and credit unions
Her mantra: “Fortune favors the finance-savvy”
How her systems allowed her to buy 2 properties from India
Her “A.B.L.E.” method to escape analysis paralysis
How she bought 9 units for 40% off the list price
How she used a home equity loan to borrow $160K
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show368

367: Quitting Retail to Flip, BRRRR, and Design with Kara Beckmann Jan 30, 2020

7X-ing her income by leaving a so-so job to flip houses!

Today’s guest is Kara Beckmann, a rehabber and rental property investor who’s tearing it up in Scottsdale, Ariz., and on her Instagram page @beckmannhouse.

You'll be inspired by Kara's journey from pastry chef to retail worker to full-time investor funding deals with private and hard money. Kara shares some great tips for networking with wholesalers and builders to snag deals (to date, she's spent $0 on marketing).

You'll also learn how she maximizes profit by sticking to her rehab budgets, how she keeps contractors on deadline, and how she manages risk by outlining several different exit strategies.

Kara's story will motivate you to apply your own "unique ability" to your real estate business and overcome the fear that might be stopping you from doing your first or next deal!

Enjoy this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next one.

In This Episode We Cover:

How Kara learned saving habits at age 14
How she started thinking like an entrepreneur while working in retail
How she was motivated by not getting a raise in 5 years
Buying her first deal for $50K below asking price
Reinvesting profits from her first flip
Her apprenticeship with a general contractor
How she develops a scope of work and deadline
Why she doesn’t spend any money on marketing
Her networking tips
The challenges of investing without W-2 income
How she prepares several exit strategies for each deal
Where she gets inspiration for her designs
How she sticks to her budgets (the “price per square foot” method)
Incentivizing her contractors to complete work on time
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show367

366: 40 Doors in His First 2 Years with Henry Washington Jan 23, 2020

From panicked newbie with just $1,000 saved to 40 rental units—in two years’ time!

On today’s show, we sit down with Henry Washington, a buy and hold investor from Arkansas who’s built a sizable portfolio while working full-time.

You’ll learn how Henry changed his mindset as he and his wife prepared to start a family and how he secured his first deal by doing something anyone can do—simply announcing to the world that he buys houses.

You’ll also learn how Henry built a deal pipeline by looking in places other investors didn’t, how he asked more experienced investors for help when he didn’t know what to do next, and how he does business with local banks to expand his portfolio.

Plus, Brandon and David dig into how to property screen tenants, how to decide when to flip or BRRRR vs. when to hold onto a rental, and how to use an online ad campaign to drive a steady supply of leads to your website.

This episode lays out a blueprint for building massive wealth. Just adapt it to your market, and work the process.

Don’t miss this one, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next!

In This Episode We Cover:

How “panic” drove Henry to start saving and investing
How he started his investment career by simply “paying himself first”
The list he used for his first (wildly successful) direct mail campaign
The lessons he, Brandon, and David took away from Rich Dad Poor Dad
Why he told people he bought properties (before he ever did!)
Why writing down his fears helps him conquer them
How he sought help from a more experienced investor on his first deal
How he used a 401(k) loan to buy a cash-flowing property
How he launched a Google Ads campaign to drive traffic to his website
The power of small, local banks to fund deals
Why he holds open houses rather than individual showings for tenants
Why the best real estate investors buy “situations,” not houses
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show366

365: Ret. Navy SEAL Jocko Willink on Embracing Discomfort and Leading through Extreme Ownership (+ His Real Estate Investing Tips!) Jan 16, 2020

Decorated Navy SEAL commander. Author. Podcaster. And house hacker?!

Yes, Jocko Willink invests in real estate and shares some great tips… but that's not the only reason he's on the show today. And it's not the only reason why he's sure to be one of our most popular guests to date.

You see, Jocko looks at life's challenges differently. And after hearing his message, you might, too.

Contractor rip you off? Good. Rental property flooded? Good. Spent a bunch of money and never found a deal? GOOD!

Actually, great!

Now you can learn something about yourself. You can get tougher. You can improve.

That's the worldview Jocko outlines in his No. 1 New York Times bestseller Extreme Ownership: How U.S. Navy SEALs Lead and Win.

Today, we dive deep into how to apply this mindset to your business. PLUS, we discuss Jocko's philosophy on leading teams, managing risk, harnessing your ego, and foregoing comfort in pursuit of long-term goals like financial freedom.

You'll also love getting to know Jocko the real estate investor!

From buying a hoarder house filled with chicken bones to dividing his kids' bedrooms into "prison cell"-sized sleeping quarters, Jocko discusses how some sacrifice goes a long way toward creating financial freedom—even on a modest military salary.

Beware: by the end of this show, you might just be staring down your fears and greeting your biggest obstacles head-on with the word "good."

In This Episode We Cover:

What “extreme ownership” is and how it applies to real estate investing
Fixing up creepy, run-down houses in Southern California in his 20s
Why Jocko recommends house hacking for men and women in the military
How joining the Navy gave him purpose
His approach to Navy SEAL BUD/S training
The lessons he learned from the Great Recession—even though it didn’t personally affect his finances
Avoiding "lifestyle creep"
Considering the worst case scenario before taking risks
How to harness your ego for good
What he says when people push back against the idea of extreme ownership
Why he writes books for kids (and why some adults like those books best)
And SO much more!

Links from the Show

Click here to check the full notes: http://biggerpockets.com/show365

364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery Carl Jan 09, 2020

Ever been interested in making money with short-term rentals but feel there’s just too much you don’t know? Welcome to the club!

On today’s show, Brandon and David interview Avery Carl, a short-term rental (STR) investor who opens up the playbook and shows us what she’s doing and how she’s doing it! Avery shares the apps, software, and systems she uses to manage five STRs in under 30 minutes a week!

You’ll love her thoughts on self-management versus using a professional company, avoiding negative online reviews, and properly marketing your properties to maximize revenue. She also discusses how she diversifies risk in her portfolio, why she buys properties for 10% down, and what expenses she accounts for when analyzing deals that come across her desk.

Avery shares some fantastic insight into how to run a STR business with minimum time and intrusion, as well as some overall advice for knowing your market and minimizing your risk. Download this episode of the BiggerPockets Real Estate Podcast and see for yourself today!

In This Episode We Cover:

Where she’s currently buying
How she balances running a real estate team with investing
How she created systems to help manage her portfolio of vacation rental properties
The difference between self-management and using a management company
How she manages negative reviews online
Her advice for marketing your STR
The apps she uses to automate the STR business
How she buys her STRs with 10% down
What expenses she factors into her numbers for STRs
How she protects her investments from a possible recession
How she diversifies her risk between long-term and short-term rentals
How she uses her first properties when buying additional properties
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Real Estate Podcast
The Grey (movie)
Airbnb
iGMS Vacation Rental App
BiggerPockets Podcast 245: Creating Wealth that Lasts Generations with Bestselling Author Ryan Holiday
BiggerPockets Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone
Email Us for Pro Deals: podcast@biggerpockets.com

Check the full show notes here: http://biggerpockets.com/show364

363: How to Work (Way) Less but Accomplish (Way) More in 2020 with Michael Hyatt Jan 02, 2020

Will 2020 be your best year ever?

Today’s episode has all the ingredients to make the answer a big, resounding “Yes!”

Bestselling author and productivity expert Michael Hyatt is here, and he guides us through how real estate investors should approach the year ahead.

You’ll love hearing how Michael’s eliminated virtually everything except his three highest-leverage, revenue-generating activities; how to steer clear of what he calls “drudgery zone” work; and how to find someone who actually enjoys those tasks you can’t stand doing.

And if you’re thinking, “Well, I’m not ready for that yet…” Michael has tips for how to get started by delegating just one task.

Michael has written extensively about three topics that touch every real estate investor: productivity (Free to Focus), goal-setting (Your Best Year Ever), and delegation (Your World-Class Assistant). Today, we cover them all in-depth.

So download this episode, make sure you’re subscribed to the BiggerPockets Real Estate Podcast, and start 2020 right!

In This Episode We Cover:

How Michael grew his company in a year while taking 162 days off per year
How “vague aspirations” set you up for failure
Why you’re 42% more likely to achieve your goals if you write them down
Why you shouldn’t have more than 3 goals at once
The keys to hiring a world-class executive assistant
The importance of a detailed, well-thought-out job description
The right way to document workflows
How to focus on your “Desire Zone”
How to offload tasks in the “Drudgery Zone”
The difference between goals and projects
Why he hired a world-class coach to teach him an obscure hobby
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show363

362: Big Goals? Here’s How to Get Your Spouse or Partner on Board with Jay and Wendy Papasan Dec 26, 2019

Today’s show is centered around a big question we get ALL the time...

“How do I get my spouse/partner on board with my real estate investing goals?”

It’s the perfect time of year to think through exactly how to do that, and we have the perfect guests to offer some advice.

Jay and Wendy Papasan run an annual couples’ goal-setting retreat in Austin, Texas. Today, they walk us through the exercises they use to help couples (and business partners) confront uncomfortable questions and get on the same page.

Oh, and if you don’t know who Jay is, check out BiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The ONE Thing with Jay Papasan and BiggerPockets Business Podcast 06: How to Manage Your Time Like a Millionaire with Jay Papasan.

Jay's wife, Wendy, is a real estate broker who leads a high-performing team that’s expanded into four cities.

In this episode, you’ll learn how to initiate a goal-setting conversation with your partner, what kinds of settings work best for this exercise, what questions to ask, and which timelines to use.

Also, stick around through the end to hear Wendy’s tips on using leverage and a “not to-do list” to apply your time and energy more efficiently and be happier.

This is a profound episode with two real estate rockstars. If you enjoy it, do us a favor and share it with YOUR spouse or partner… or pass it onto a couple who you think might benefit.

Download this one today, and make sure you’re subscribed to the show, so you won’t miss the next one!

In This Episode We Cover:

How Wendy and Jay started setting goals together 13 years ago
Applying the idea of a “leadership retreat” to your family
What settings work best for goal-setting with your spouse or partner
Navigating a relationship where one partner is an entrepreneur
Their answer to, “How do I get my spouse on board with real estate investing?”
Why most failures of leadership are failures of courage (Keith Cunningham)
How having tough conversations about goals can head off misunderstandings
How Brandon’s navigated balancing business with family
Why Gary Keller calls tough conversations “care-frontations”
Which time horizons are most useful when setting goals
Using the language of business in your marriage
Putting your marriage first, even when you have kids
Moving at the speed of communication
Delegating draining tasks to help you keep more energy for yourself and your family
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show362

361: Using $3,500 to Kickstart an "Unsexy" Investment Empire with Tristan Thomas Dec 19, 2019

Traveling the world on mobile home cash flow at 26 years of age? Yes, it’s possible!

On today’s show, Brandon and David interview Tristan Thomas, a mobile home park investor who parlayed a few thousand dollars into a life of financial freedom.

Tristan shares some great info regarding how he chooses his markets to invest in, how he finds deals in those markets, and some of the key differences to holding title to mobile homes compared with traditional real estate.

He also shares a fantastic perspective on how using “rent-to-own” financing can eliminate maintenance and repair costs, motivate your tenants to take better care of the property, and help you build wealth with very little of your own money.

Tristan is a great example of how to find financial freedom at ANY age and shares exactly how he did it himself! Download this inspirational episode today, and subscribe to the podcast in your favorite app so you won't miss the next show.

In This Episode We Cover:

How Tristan got into mobile homes
How he finds deals in today's market
The key differences to holding title to mobile homes compared with traditional real estate
How to use “rent-to-own” financing to eliminate maintenance and repairs costs
How to motivate your tenants to take better care of the property
How to build wealth with very little of your own money
Making a 100% return on investment within 12 months
His 5 biggest lead generators that are all free
The criteria he looks for to find the best mobile home deals
Getting into real estate investing for financial freedom
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show361

360: Leveraging Virtual Assistants and Automation to Build a $2M Portfolio with Stephanie Cabral Dec 12, 2019

Have you ever wanted to invest in real estate but aren’t ready for a full-time commitment? Today’s guest has figured out just how to do so, and she’s sharing it all with you!

Stephanie Cabral is a lawyer, real estate agent, and investor out of Connecticut, who has figured out how to make money from residential real estate ownership while working two full-time jobs.

On today’s show, Stephanie breaks down how she saved $100K on one deal, developed an automated direct mail system, and successfully used the often-confusing 203k loan program.

You’ll love her advice on automation/delegation and investing in single family homes. Plus, she talks about what she looks for in her market, and shares her thoughts on the next big change in real estate in the near future. You’ll also find some great tips regarding managing properties yourself and hiring and using virtual assistants to save you time.

Download this one today, and share it with a friend or family member who would benefit!

In This Episode We Cover:

How Stephanie defines “administrative stamina”
How she took out a HELOC on her first property
How she got a $100K discount on her first property
Why she invests in single family homes
How she uses VAs to handle the heavy lifting of her RE business
Her theory on automation and delegation
How she’s using RE to get out of her legal practice
What she looks for in a good assistant
What she’s looking for in out-of-state markets
How she automated her direct mail system
Her advice for managing properties yourself
Her thoughts on the next big trend in RE investing over the coming 5-10 years
And SO much more!

Links from the Show

Check the full show notes at BiggerPockets: http://biggerpockets.com/show360

359: Using an Agent to Find Your First (or Next) Deal With Ryan Meinzer, Stephanie & Hero Cruz, and Rob Kishi Dec 05, 2019

You asked for it, and we answered! On today’s episode, Brandon and David interview three first-time home buyers, who all utilized the house hacking strategy in different ways!

Our first guest shares how he bought in the most expensive market in the country and lives for FREE by using several techniques anyone can replicate (while taking advantage of a massive value-add opportunity).

Our second guests share how they used house hacking to buy a BUSINESS that will generate over $20K in profit per month... while also eliminating the majority of their rehab costs and reducing risks and living expenses at the same time!

And our third guest shares how he took advantage of California’s recent ADU law revision to buy a property that will eliminate his living expenses while making him massive cash flow at the same time.

This episode covers FAQs—like how to use an agent to help you find a property, how to house hack in unique ways, and what to expect when buying your first property—and is guaranteed to get those wheels turning in your mind! Download this one, and share with a friend today!

In This Episode We Cover:

Ryan Meinzer
How he found the property
His unique angle on TIC (tenancy in common)
What he intended to do reduce his living expenses
How a sliding door turned out to be a blessing
What the requirements are to convert a TIC
Key lessons learned from this deal
Hero and Stephanie Cruz
The struggle of finding the right Realtor
Finding a property that needs less rehab
What is assisted living property
How much they earn from each room
Making more money to help more people
Rob Kishi
How Daivd and Rob were introduced during a meetup
Why he fell in love with idea of house hacking
What the property looks like
Investing with Mom
What ADU stands for
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show359

358: 6 Popular Strategies to Make You Money in TODAY’s Real Estate Market Nov 28, 2019

Have you been looking for the right way to find deals in today’s tough market?

Today’s show might be just what you’ve been looking for! Join us as Brandon and David sit down and bring out the gold nuggets on what’s working for successful real estate investors in today’s hot market.

You’ll learn six strategies that will help you land deals and build wealth, as well as detailed insight into how to pull them off successfully. You’ll want to hear this advice about how to find deals, how to set up your business, and how to protect your capital that not everyone is talking about!

For the second half of the show, Brandon and David share five “accelerants” that will help increase the level of your success once you’ve found the strategies that work for you.

This show is the first of its kind, and we think you’re going to love it. You spoke, we heard, and this is the content the people want.

Download and share this gem today!

In This Episode We Cover:

Strategy #1: BRRRR
Strategy #2: House Hacking
Strategy #3: House Flipping
Strategy #4: Vacation Rentals
Strategy #5: Wholesaling
Strategy #6: Syndication
Accelerants and how to pour fuel on the fire
OPM (other people’s money)
Value-add
Forced equity
Increased cash flow through additional units
Leveraging others (core four)
Finding deals from your sphere of influence
Funnels
Partnerships
Personalities
Skill sets
Resources
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show358

357: $6M Portfolio Before Age 30 by Finding "Problem" Properties with "Meet Kevin" Paffrath Nov 21, 2019

YouTube sensation alert!

On today’s show, Brandon and David sit down with real estate investor and agent Kevin Paffrath of “Meet Kevin” on YouTube.

Kevin is young and doing great with real estate from several angles! He's built millions of dollars in wealth through single family properties in Southern California and shares some fantastic advice that will help you do the same.

You will love his advice regarding what he looks for in rehabs, what he avoids, and how he LOVES finding properties with problems! He also discusses how he found a deal holding an open house, how he avoids paying taxes on his profits, and how he was able to buy a house with his girlfriend while working at Jamba Juice!

This episode is high-energy, fun, and full of great practical advice for newbies and experienced investors alike.

In This Episode We Cover:

Buying his first property while working at Jamba Juice
How he bought with PMI, then removed it later
Why he invests as an agent
Why he tracks his net worth
Common problems that prevent investors from building wealth
Buying the majority of his properties from the MLS
How he talks to other agents to get deals sent to him
Finding a deal while holding an open house
Why buying SFR to build equity then exchanging into multifamily is a great strategy
Avoiding paying taxes
Looking where others aren’t for deals
How he still buys homes that get multiple offers
Why he DOESN'T want cash flow right now
A walk through of his latest rental
Attracting quality tenants
The best kind of relationship with real estate agents
The problems he avoids in rehabs
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show357

356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe Asamoah Nov 14, 2019

Want to build massive wealth in a top-end rental market that’s also really expensive—all while minimizing your risk? Don’t we all!

Well, you’re in luck, because today’s guest has done just that—and in a surprisingly simple way that anyone can replicate. On today’s show, Brandon and David dig deep into the strategy used by Joe Asamoah, a Washington, D.C. investor, who owns more than 30 single family homes that are currently building him massive wealth!

You will be absolutely fascinated as you hear how Joe uses HUD housing vouchers to generate big returns in high-end areas while also reducing his risk to survive tough markets. Joe also shares some amazing tips for how he keeps tenants for 15 years at a time, including how he creates a huge demand for his homes, which kinds of properties he targets, and how he gets deals brought to him before anyone else.

Joe goes on to reveal some extremely effective tips regarding how to treat your tenants so well they never leave, how to convince lenders to work with you, and why he visits potential tenants in their current homes on short notice.

This show is chock full of extremely practical advice anyone can follow, not to mention useful tips for high-level real estate investing. This is an episode you will listen to several times and walk away extremely inspired.

In This Episode We Cover:

Why he targets 5-bedroom houses
Why the greatest HUD demand is for 4-, 5-, and 6-bedroom homes
HUD requirements for what qualifies as a bedroom
The advantages of investing in a capital city
Why he rehabs his properties to HGTV-grade quality
Why he visits potential tenants at their current homes
Why he sends his tenants flowers on Mother’s Day and presents for Christmas
Why he rewards his tenants' children for good grades and even offers vacations for tenants
How his model is designed to be recession-proof
Why he has a 20-page lease
Why he focuses more on reducing expenses than he does on increasing rents
Why he hired an assistant to manage his properties instead of using a traditional property manager
And SO much more!

Links from the Show

355: From Small-time Landlord to 1000+ Units Under Contract with Ryan "The Mercenary" Murdock Nov 07, 2019

From Bangor, Maine to Maui... by providing massive value!

If you’re looking for a mentor, partner, or lender, this episode is for you. You’ll learn how Ryan Murdock went from small-time landlord/property manager to major player in Brandon’s growing mobile home park empire; how he’s the perfect complement to Brandon’s DISC profile; and how they find, underwrite, and finance multi-million dollar deals.

Ryan is a modest, down-to-earth guy with a keen awareness of his own strengths and weaknesses, and this episode will show you how you can develop that quality to find the right partner and level up your business (and life!).

Don’t miss this one, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss out next week!

In This Episode We Cover:

How Brandon and Ryan met
What Ryan did that caused Brandon to pump his brakes and start paying attention
How they slowly formed what became one of the most dynamic duos in real estate
The attitude Ryan embraces that makes him so valuable
How he earned an equity stake in a huge company
How they’ve hired additional members to help grow the business
Learn how to create the “vivid vision” Brandon came up with
How they joined forces to create “rocket fuel” and scale their syndication model
And SO much more!

Links from the Show

Listen on BiggerPockets: https://www.biggerpockets.com/show355

354: From Rookie Mistakes to Syndicating BIG Deals with Nichole Stohler Oct 31, 2019

From single family to multifamily to hotels!

On today’s show, Nichole Stohler sits down with Brandon and David and discusses her journey from purchasing a single family home to syndicating hotels! Nichole has a fascinating story that started with losing the first house she bought, grew into recommitting herself to learning the asset class of real estate, and ended with massive success through big deal syndications.

You’ll love the advice she shares about managing managers, scaling the right way, and dealing with tenants according to three irrefutable laws. She goes on to discuss keeping properties clean, choosing the right partners, and analyzing economic factors when choosing a hotel or apartment complex.

Nichole reveals tons of great tips when it comes to building wealth through various asset classes of real estate. This show has something for everyone!

In This Episode We Cover:

Her 3 irrefutable rules for dealing with tenants
How she scaled from SFH to multifamily and hotels
How she manages her managers
What she learned from her first deal that lost her money
Why she committed to really learning the asset class of real estate
Why having clean apartments is so important to tenant relations
Why so many investors make the mistake of not focusing on asset management
Why she turned to hotels when she couldn’t find anything in the multifamily space
How the 1031 exchange impacted her capital gains and depreciation recapture
Which economic drivers she looks for when choosing a property to buy
What she’s learned about operating syndications in the hotel space
And SO much more!

Links from the Show

Check the full show notes on BiggerPockets: http://biggerpockets.com/show354

353: Turning $5k into $5k/Month and Retiring at 40 with Tim Rhode Oct 24, 2019

“Trading up” to successfully retire financially free at 40!

On today’s show, Brandon and David interview retired real estate broker Tim Rhode, who explains how he was able to buy great deals and 1031 exchange them into financial freedom!

Tim shares some fantastic advice on playing great financial defense to achieve an early retirement, crushing it in real estate sales, and locking up deals during his first conversation with sellers.

Tim also shares how knowing his market led to him making hundreds of thousands buying land in the path of progress, how to build a “fulfillment triangle," and how he recognized the market turning in 2006 and cashed out before losing money.

Tim has a huge heart, is committed to helping others get out of the rat race, and shares some incredible advice on how to do so. Make sure you listen for his description of the several levels of financial freedom and his belief that those who make it to the top of the mountain should throw down the rope for the rest still climbing. Download this one today!

In This Episode We Cover:

Levels of risk tolerance
Delegating things you're not good at
How he got into real estate sales
Playing great "defense"
Not caring about what others think
How he invested everything left over that he didn’t spend
How he bought his first property—a triple wide mobile home—for 50 cents on the dollar
Using his influence as a broker to get great deals before they hit the market
How he bought land in the path of progress
How he exchanged several good deals by “trading up” into a triple net lease commercial property out of state
His philosophy on timing markets
His “fulfillment triangle”
The power of the 1031 exchange
Which houses he flipped and which he kept
How he retired at 40 years old
The multiple levels of financial freedom
The financial freedom principles he teaches in his non-profit
Where he believes we are in the current market cycle
And SO much more!

Links from the Show

Check the full show notes on BiggerPockets: http://biggerpockets.com/show353

352: Bonus Audiobook Excerpt: The House Hacking Strategy Oct 19, 2019

Prefer to listen, rather than read?

Here's a sample of the audio format of "The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom," by BiggerPockets' own Craig Curelop.

In it, you'll hear:

An overview of the "unfair advantages" house hacking offers
A breakdown of varying house hacking techniques
A real-life case study illustrating the above

You can find the full audiobook here bit.ly/househackaudible.

And don't forget, Audible is running a special deal for BiggerPockets Real Estate Podcast listeners!

If you're not yet a member, go to http://www.audibletrial.com/biggerpockets to get a free Audible book and a free 1-month subscription.

352: No Driver’s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 Doors Oct 17, 2019

Eighteen doors by 29 years old by never taking no for an answer! We realize there are a lot of inspirational investors out there, but on today’s show, you’re going to be blown away by one of the best.

Brandon and David sit down with Diego Corzo, a “DREAMer” who moved to the United States with his family at a young age. Fast forward a few years, and Diego jumped headfirst into real estate investing, using house hacking strategies that will work for anyone.

You will be blown away by Diego’s story of how he rode a bike (with his suit in a backpack to avoid getting it sweaty) when he couldn’t get a driver’s license, how he got on the fast track to becoming a millionaire, and how he overcame a speech impediment, going on to give a TED talk!

You will love his fantastic advice on what to look for in a house hack property, which areas to look when investing, and how to target the perfect tenant market. You’ll also appreciate his thoughts on avoiding drama between roommates, vetting turnkey companies, and structuring partnerships. Diego goes on to share some solid info about why he prefers “B” neighborhoods over “C” and why doing your own math is so important when analyzing deals.

This guest is truly an incredible person with an incredible story—not to mention some pretty fantastic investing advice.

Don’t miss out! Download this episode today, and make sure you're subscribed to the BiggerPockets Real Estate Podcast so you won't miss the next one!

In This Episode We Cover:

How Diego owned 18 doors by 29
How he overcame not having a driver's license
What adversity can teach you
How he got on the fast track to becoming a millionaire
How he overcame his stutter to go on to do a TED talk
How he invests out of state
What he looks for in a home to house hack
How he bought his first property
How he bought a property with his father
Why he prefers “B”-class properties over “C”-class properties
How he vets turnkey companies
Why doing your own math is so important
What he looks for in someone he can trust
What he recommends in terms of choosing an area
His advice for structuring partnerships
How he recommends avoiding drama with roommates in a home
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show352

351: LIVE from BPCon2019: Ask Us Anything! Oct 13, 2019

All the BiggerPockets podcast hosts on stage in one place!

This bonus episode was recorded at the BiggerPockets Conference 2019 on October 7th in front of a live audience of more than 1,000 people at the Gaylord Opryland Resort in Nashville, Tenn.

We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott.

Our panelists covered some nitty gritty real estate topics, like tackling vacancy and how to invest IRA funds, as well as big-picture concepts like motivation, marketing, and teaching family members the importance of investing at an early age.

Also, everyone reveals which animal they would be if they had to choose, and a member of the audience challenges David Greene to produce an analogy on the spot. Listen to find out whether he performed under pressure!

Our first conference in seven years was a big success, and we’re so thankful to everyone who came out to learn, network, and have a great time.

Download this bonus episode, and be sure to subscribe to all three shows BiggerPockets Real Estate Podcast, BiggerPockets Money Podcast, and BiggerPockets Business Podcast so you won't miss an episode.

351: Unlocking Greater Focus, Creativity, and Happiness Through “Stillness” with Ryan Holiday Oct 10, 2019

Stop whatever you are doing and download this episode right now!

Today’s show is highly likely to change your life in ways you may not have even realized it needed changing! Brandon and David sit down for an amazing interview with Ryan Holiday, keynote speaker and bestselling author of Ego Is the Enemy, The Obstacle Is the Way, and Stillness Is the Key.

And Ryan does not disappoint! You will be blown away with his advice regarding how we talk ourselves into buying deals we know we shouldn’t, how he conducts cost/benefit analysis on different opportunities that come his way, and how he’s learned to avoid “success” when it will cost him more than it’s worth.

Ryan also shares some mind-blowing knowledge about why we make bad decisions; why working harder isn’t always better; and how to identify virtues or skills you are lacking in a given situation, so you can figure out the path to the result you want. In addition, he shares how he models himself after the best and brightest minds he knows, how he believes in the power of journaling, and how important it is to put your strongest energy into the pursuits that will yield the highest ROI.

This show is simply an incredible breakdown on human performance, goal setting/reaching, and using real estate to accomplish what really matters in life.

Download this one today and buckle your seat belt!

In This Episode We Cover:

How to let your individual trials help you grow by how you respond
How to recognize why you made bad decisions
How to avoid worse decisions
Why he invests in short-term rentals
What he means by “stillness is the key”
How to become something better
Why “working harder” isn’t always the best answer
How success can actually become a trap for us
How our best ideas can come from time away to think
How to model ourselves after the best, brightest, and most successful minds
Why he believes so much about the power of journaling
How to create routines that free your mind to reach new heights
How to put your energy into efforts that lead to a better ROI on your time
And SO much more!

Links from the Show

Listen on BiggerPockets: http://biggerpockets.com/show351

350: How to House Hack Your Way to Financial Freedom in 3 Years with Craig Curelop Oct 03, 2019

Ever wanted to break into real estate but just weren’t sure how to take that first step? You're not alone!

Almost all investors struggled with their first deal. But today’s guest may be just what you needed to get your foot in the door! On today’s show, Brandon and David dive deep into the mind of Craig Curelop, the author of BiggerPockets Publishing's new book The House Hacking Strategy.

Craig shares some incredible advice on how he eliminated his living expenses and earned as much as one could from a full-time job through house hacking—all by age 26! Craig breaks down just how simply you can get your first property with less than 5 percent down and turn it into a wealth-building machine that will help you achieve a “return on your potential” you may not have realized you’re currently lacking.

You’ll learn what to look for in a house hack, how to find the “path of progress” to start your search, and which straightforward criteria we can all use when searching for deals. You’ll also hear how to make “hedonic adaptation” work for you, how to exchange comfortability for profitability, and how to decide which property would work best for your specific situation.

We ALL want to own more real estate, and we all need somewhere to live. On today’s show, you’ll learn how to combine those two needs to build wealth and save money at the same time.

Download this one today!

In This Episode We Cover:

Why he left Silicon Valley to build wealth through real estate
How he bought his first house hack
Why house hacking is so effective for establishing financial freedom
His scale of comfortability vs. profitability
Who should house hack
Why expensive markets are the best places to build wealth through real estate
The importance of solid metrics in a potential house hack
How he gets in front of the “path of progress” to maximize returns
How to take advantage of low down payment options to snag properties that earn income
How house hacking allows you to find the “return on your potential”
How to make “hedonic adaptation” work for you, not against you
And SO much more!

Links from the Show

You can listen on BiggerPockets here: http://biggerpockets.com/show350

349: Multifamily Flipping and Due Diligence Tips to Save Thousands with Nathan Tabor Sep 26, 2019

Apartment flipping from one of the best in the biz!

On today’s show, Brandon and David sit down with Nathan Tabor, a well-known multifamily investor who has done 26 multifamily flips in less than 10 years! You will love this informational and oftentimes hilarious episode, where Nathan shares some fantastic advice on how to flip apartments for big returns, what to look for in a deal, and which five incredible pieces of due diligence every investor needs to know.

You’ll also love his straightforward direction regarding questions to ask the county zoning department, great advice for raising money, and some mind-blowing insight into who actually owns fire hydrants!

This show is a very fun listen with tons of talk about dealing with rejection, finding the niche that’s perfect for you, and applying information you already know. Nathan's story is sure to change your mindset and confidence when it comes to taking action in your life. Make sure you listen today!

In This Episode We Cover:

How title insurance works
How to check with the zoning department to make sure you don’t get burned
How to file a claim for title insurance
His fantastic advice for due diligence checklists
His advice for finding your niche
The benefits of niching down
How to find your passion and inner focus
How to handle the fear of rejection
The key to applying information you have in your life already
How to flip an apartment or apartment complex
Advice for raising money
How to understand what a cap rate is
Why multifamily may be less risky than single family
And SO much more!

Links from the Show

348: Full-Time Job, Full-Time Mom, and Full-Time Wealth From Rentals with Ashley Kehr Sep 19, 2019

Today’s guest is proof rental property investing can be fun, rewarding, and—with the right systems in place—totally doable… even with a job and a family.

Ashley Kehr sits down with Brandon and David and shares some great advice for building a rental property portfolio without much hassle or headache! Ashley manages all her own rentals and discusses the top three apps she uses to do it with ease. She also shares how she structures her partnerships, how she pitches her deals, and how she’s finding deals in today’s hot market.

Ashley gives great advice for what most newbies get wrong about investing, which apps she uses to find off-market property owner info, and how she uses her children to help her find potential deals! Plus, you won’t want to miss how Ashley helped her sister buy a duplex (and spend just $45 a month to live there), as well as how she bought a property no one else wanted, pulled $6,000 more out of it than she put in, and created a cash flow of almost $1,000 a month!

Today’s show is fun, entertaining, and full of great advice for investors of all levels. Download this one today!

In This Episode We Cover:

3 apps Ashley uses to remove herself from the business
How she uses technology to systemize her rural business
How she structured her first partnerships (with ease!)
Where she's finding deals
How she used her current job and boss to get into investing
What newbies get wrong about the reality of investing
How she uses apps to find off-market deals
Using her children to find deals while driving in the car (a fun family game!)
How she helped her sister buy a duplex at 20 years old
How she bought a property for each of her kids
How she set it up to be paid off and refi-ed by college
How she uses a commercial line of credit to borrow money to buy new properties
How she finds properties on the MLS
Why she always tells everyone she buys rental properties
What her favorite parts of the business are
How she bought a property no one else wanted for $35K, pulled out $6K more than she put in, and cash flows almost $1K/month
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show348

347: Using Multifamily Syndication to Reach 5,000 Units with Mark and Tamiel Kenney Sep 12, 2019

On today’s show, a married couple who scaled to 5,000 units together!

Brandon and David interview Mark and Tamiel Kenney, a husband and wife team who buy large apartment complexes through the power of syndication. This mighty couple shares some great insight into how to find the right partner, how to set expectations with your agent (or team member) in the beginning, and how coming up with strict criteria helped them overcome their fear of getting started.

You’ll love their advice on what they learned in the first 12 months to help them land their first deal, how they split profits with investors, and which are the most important fundamentals for any multifamily investor to learn. You DO NOT want to miss their advice on following up after meeting with brokers or investors. Plus, they reveal the most common trait successful syndicators share.

Mark and Tamiel go on to share how they’ve struggled with—and overcome—the difficulties of balancing a demanding business while still carving out valuable family time.

Don’t miss this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next!

In This Episode We Cover:

- What to look for in partners

- How to have conversations with brokers and managers to set expectations

- What they learned in their first year that allowed them to land their first big deal

- The importance of strict criteria

- Mistakes they made that prevented them from being successful

- How they find deals their investors will want to invest in

- How to provide clarity to help investors feel comfortable moving forward

- How to use social media to build your database of partners, investors, and brokers

- Advice for standing out from other buyers when interacting with brokers

- How they split up the various tasks of their business

- How a typical syndication split looks in their deals

- What success looks like in their family and business

- Why learning the fundamentals is more important than complicating your business

- And SO much more!

Links from the Show:

BiggerPockets Forums

BiggerPockets Webinar

Monkeypod Kitchen

Pacific North West Real Estate Wealth Expo

BiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber

Zillow

Brandon's Instagram

Josh's Instagram

Click here to listen on Biggerpockets: https://www.biggerpockets.com/show347

346: 34 Units & Six-Figure Wholesale Fees (at 20 Years Old!) with Josiah Pott Sep 05, 2019

Attention: this is a must-listen show! Whatever you’re doing, stop and download today’s episode!

Brandon and David sit down with Josiah Pott, a real estate investor/wholesaler who is doing six-figure deals at 20 years old, using nothing but old fashioned cold calling. Josiah shares just how he puts houses under contract and wholesales them for big profits—then converts that money into cash-flowing rental property.

You will love hearing how he found his first mentor (and got paid $20K to do so), why he dropped out of college to invest in real estate, and what his five tools are for finding off-market property owner info. You’ll also love hearing how the power of compound interest changed his life, how he uses a calendar to manage his lead follow-up, and how he handles questions regarding his young age.

Josiah has done several deals where he’s made well over six figures and will tell you exactly how he did so.

Don’t miss out on this game-changing info. Download this show today!

In This Episode We Cover:

His five tools for finding off-market property owner info
How he wholesales and turns that into rentals
Why he won’t miss out on seller financing in the future
Why he wants things to be “hard”
How he found a mentor (and got paid $20K by them)
Why he dropped out of college to invest in real estate
How the power of compound interest changed his life, mindset, and approach to building wealth
How he’s accumulated a very impressive portfolio at 20 years old
Why he uses cold calling to build wealth
How he made $127K on one deal
How he made $355K on a deal with his partner
How he organizes his business so he doesn’t lose deals
Why he keeps a personal touch in his business
How he handles questions about his young age
How he and his wife work together on their business
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show346

345: “Vivid Visions” and 90-Day Sprints—Brandon’s Approach to Mobile Home Park Investing (and Life!) Aug 29, 2019

Today, Brandon Turner’s on the other side of the microphone.

J and Carol Scott, co-hosts of the BiggerPockets Business Podcast, recently interviewed him… and the result was so epic we wanted to share it here, too!

In this episode, Brandon reveals why he chose mobile home park investing (hint: NOT necessarily because it’s the “best” investment) and describes the method his team used to get hundreds of pads under contract in just a few months. (It's an approach YOU can apply using the new BiggerPockets Intention Journal.)

But this show is about much more than real estate. It’s about avoiding that all-too-common pitfall where you set an ambitious goal only to see it buried under an avalanche of more urgent (but less important) responsibilities.

Brandon shares the tools he’s used to break that cycle and how he’s applied them to other challenges—like moving to Hawaii, improving his personal health, and spending more meaningful time with his family.

You’ll hear how Brandon’s first business venture failed, how he got into real estate investing for cash flow, and how he discovered a way to bring BIG value to BiggerPockets as Employee #2, despite not owning a computer the year before! Oh, and you’ll learn the meaning of “M.I.N.S.” and the role they play in moving your business forward (ESPECIALLY when the going gets tough).

Brandon also shares why writing out a “vivid vision” of your future might be the best thing you can do to move yourself closer to your ideal life; why he asks, “What would be awesome?” and then works backwards; and why he and his wife organize a goal-setting retreat together on the same day every year.

This is an amazing episode that lays out a battle plan for getting WAY more done while setting aside quality time for friends, family, and fun.

Download this one, and subscribe using your favorite podcast app so you won’t miss any future shows!

In This Episode We Cover:

Brandon's mobile oil change business plan (that he didn't execute on)
How he flipped a house and spent all the money
Brandon's very first house hack
How he “got into the business of collecting units” and quit his job
How a cold email led to him working for BiggerPockets
The strategy he used to write 50 blog posts in a year for BiggerPockets
Brandon's thoughts on the path to 100 units
Why you should ask yourself, “What would be awesome?”
How to ask, “What if it was easy?” and work backwards toward your goal
How to balance family life and health with business
Why he chose mobile home park investing (hint: not because it’s the “best” asset)
How to "have it all" (as long as you’re focused and tracking everything)
Tips for setting goals as a couple
How to identify the “Most Important Next Step” (M.I.N.S.) and then time block it
The 90 Days of Intention Journal
The importance of writing down goals every day
And SO much more!

Links from the Show

344: “No Money” Real Estate Investing with Gabriel Hamel Aug 22, 2019

Over 25 seller financed deals in a few short years! Today’s guest, former service member (and diamond pushup world record holder) Gabriel Hamel, sits down with Brandon and David to share how he built a portfolio of over 140 units (in an expensive market) using creative methods and seller financing to make deals where other investors miss them!

Gabriel shares how he started investing in a tough market and used sub-prime lending (successfully) to house hack his first few properties. He gives some awesome advice on approaching sellers with seller financing proposals, structuring the offers, and showing them how it’s a win-win. He also gives great advice on finding gentrifying markets, walking away from closings with money in his pocket, and applying a mindset to real estate investing that helps him succeed in all aspects of life! Gabriel has very practical, down-to-earth, useful advice and shares it willingly.

This is an episode for both newbies and experienced investors to download today!

Listen to the full episode here: http://biggerpockets.com/show344

In This Episode We Cover:

Started with sub-prime lending and it worked out
House hacked his first and second home
Owns 140 units now
How he got started buying properties in a scary market from 2009-2012
Why he began with seller financing
How he found his first off-market deals
Seller financing wizardry
What he looks for in improving neighborhoods
How he’s been able to walk away with cash at closing—better than no money
Why he focuses more on terms than just price
His advice for having a success mindset in ALL areas of life
What he looks for in a deal
How he scaled to over 100 units
And SO much more!

Links from the Show

343: Using Checklists and Systems to Get More Done in Less Time with Pilot/Investor Steve Rozenberg Aug 15, 2019

Want to build a cash flowing portfolio while working a full time job?

Today’s guest did just that! Steve Rosenberg shares his incredible story of how he built a huge property management company (along with several cash flowing rental properties) while working as an airline pilot and travelling the country! Steve has a genuine, straight forward style and shares what he did wrong buying real estate, where he learned what his strengths are, and how he and his partner resurrected a dying business. Steve also shares how he learned why systems are so important, how he learned to build them, and which systems he uses in his own business to save time, make money, and scale! Steve shares some of the most painful lessons he learned through failure so you don’t have to learn them yourself.

This is an episode you definitely want to download today!

342: From Duplexes to a 64-Unit and Self-Storage Millions with Kris Benson Aug 08, 2019

From buying duplexes to a self-storage empire! Today’s guest Kris Benson sits down with Brandon and David to talk about his remarkable journey across all kinds of different real estate asset classes.

Kris began with a successful sales career and explains why he transitioned into owning real estate instead. You’ll love Kris’s story about how he built a 64-unit apartment complex (in a cornfield), how he found partners to bring the project to life, and how it all started with one phone call! He also shares why he now invests in self-storage, how he evaluates properties, and why he believes this asset is recession-proof!

Kris provides great advice for raising money and finding your niche, and explains his theory that “deals create deals” as he walks through his journey. This is a fantastic show full of great content.

Download today!

In This Episode We Cover:

Why he transitioned out of a successful sales career
How he got started with a duplex and built up to a large commercial real estate portfolio
How he acquired 20 small multifamily units—and hated it
How he built a 64-unit apartment complex from the ground up
How he got involved in a condo syndication project
How he began finding the right partners to build multifamily projects with
His theory on “deals create deals”
Why he now invests in self-storage
Where to find data on self-storage and REIT’s
Why he believes self-storage is recession-proof
How the best opportunities in his life have come from cold calls to property owners or friends
How he learned his skillset and why he sticks to it
His advice for raising money from others
And SO much more!

Links from the Show:

341: Getting Started with No Cash to 30+ Deals Per Year and “Free Houses” with Jared Holland Aug 01, 2019

Real estate flipper, broker, contractor, and more!

Today’s guest, Jared Holland, is doing 30 deals a year and profiting from all different phases of a flip-and he shares exactly how he does it! Today’s show gets into the nitty gritty of Jared’s business and how he grow from one wholesale deal to running an entire business in a short period of time. You’ll love Jared’s advise on using a multitude of methods to find deals, how he handled the transition of going from employee in his business to manager of his business, and how he got his first deal from a hedge fund! You’ll also find some fantastic advice about finding the right mindset in an employee/partner, how to find deals if you have no money, and why you should NEVER assume the person you’re talking to doesn’t want to work with you. Jared gives some great advice on why taking big action matters, as well as how to decide which actions you should start with.

If you’re looking to level up your investing, or take your business from successful to great, download this one today!

340: How a Mom with a Full-Time Job Bought 10 Houses Her First Year with Whitney Hutten Jul 25, 2019

Would you be interested in taking your retirement account and turning it into 22 cash flowing rental properties? What about doing it with someone else’s capital? Today’s guest did just that!

Whitney Hutten shares her incredible story of how she built a rental property empire off of a 401k account by leveraging the power of a team! You’ll love how she made 50k on one of her first deals (without paying a dime of the mortgage herself) and how she used Brandon Turners method known as “the stack” to keep building! She also shares how she got her start in turnkey houses and moved along a spectrum to get to fixer-upper BRRRR’s, how she bought 10 houses her first year, and why she invests out of state. Whitney goes DEEP sharing which parts of town she invests in, why she invests near hospitals, and how she netted a 30% ROI on a BRRRR gone wrong!

You do not want to miss this inspirational story of how an “average Jane” accomplished extraordinary results through real estate-including how she fixed a bus falling on one of her houses and survived a racoon infestation on another!

This show is hilarious, insightful, and content packed. Download today!

339: 60,000 Tenants?! How Frank Rolfe Built a Mobile Home Empire Jul 18, 2019

Over 20 years' experience in mobile home park mastery! On today’s show, Brandon and David interview Frank Rolfe, an experienced mobile home park investor with TONS of great advice to share—and share he does! You won’t want to miss Frank’s incredible tips for using seller financing to buy parks, staying low risk while scaling, and the beauty of owning “small cities”! He also gives fantastic advice for making “stakeholders” out of tenants, describes what the perfect mobile home park setup looks like, and discusses how to find pocket listings no one else is seeing. Frank goes on to share the incredible story of how he bought a mobile home park with a wrestling ring in the back and how he sold it for a $1 million profit seven years later! In addition, he talks about his strategy for finding the perfect resident manager and insuring yourself against embezzlement from your management team. This is one of the most information-packed shows we’ve ever done in the MHP space, and you’ll be blown away by the amount of content here. Download it today! In This Episode We Cover: How Frank uses seller financing to buy deals he never could with a bank How he stays low risk while scaling How he got started with a billboard business How he owns “small cities” The key to doing seller financing correctly How he rents to “stakeholders” not just tenants What the perfect mobile home park setup looks like Why he loves mobile homes (aka "the gem" of real estate) Why mom and pop-type owners love mobile home parks How the average park can be bought and rents doubled year one The win-win opportunity mobile home parks provide for tenants and owners The mistakes he made on his first deal and how he learned to avoid it The No. 1 thing to look for when buying a park His strategy for finding pocket listings from brokers The 5 ways he finds parks to buy And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Business Podcast BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan Murdock 21st Mortgage

338: From Red Robin Waiter to 250 Units (Using the MLS!) with James Dainard Jul 11, 2019

From waiting tables to scaling up to 250 units! Today’s show is going to blow your mind.

Brandon and David sit down with James Dainard, a real estate investor in the Seattle area, who is using his broad knowledge of real estate investing to do some big things! James shares how he got started door-knocking for someone else’s company to learn the business—and things took off from there!

He also shares how he’s finding 60 percent of his deals from the MLS, how he uses local zoning knowledge to find opportunities others are missing, and how he made over a million dollars off an MLS flip! James has some GREAT strategies he uses, including combining flipping, wholesaling, and BRRRRing; improving the return on his equity; and “inventing returns." You’ll also be blown away at how he created a 60-room rental (!!!) property that earns over $9K a month and how he saves money on maintenance and property management by running it all in-house.

James is a smart, humble, and experienced investor doing some very impressive stuff. Download this one today!

In This Episode We Cover:

How he got started door-knocking for someone else’s company
Story behind his first deal
How he bought a 60-room house How he got to over 200 units all single-family
Combining wholesaling, flipping, and BRRRR
What he looks for in an area and using zoning knowledge to find opportunity
Profiting $1 million on a flip he found on the MLS
About his apartment complex that was on the market for 200+ days
How he uses flips to fund his rentals Getting 60% of his deals off the MLS
How he calculates the return on his equity
Why he hires people in-house to manage properties and do maintenance
How he BRRRRed a deal with no money left in that cash flowed $2K a month
His unique method for “inventing” returns And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Premium
Forum Thread about BiggerPockets Premium
BiggerPockets Youtube Page
BiggerPockets Podcast 302: Making $100k/Deal Using Other People’s Money, Time & Experience with Cory Nemoto
Brandon's Instagram
David's Instagram

337: Next Level Wealth-Building Through Overseas Development and Opportunity Zones with Russell Gray and Robert Helms Jul 04, 2019

Want to learn from two guys who have weathered several real estate market cycles and come out on top? You’re in the right place!

In this episode, Brandon and David sit down with Russell Gray and Robert Helms, longtime hosts of the Real Estate Radio Guys program. In this wide-ranging discussion, Russell and Robert cover a TON of subjects, from house hacking to investing in overseas resorts. The guys share the lessons they learned from the 2008 crash (hint: don’t rely too heavily on credit) and explain how they’re preparing for the next one. They break down how multifamily investing is just like running a business, and why hiring an assistant is the most important first step when scaling up.

Russell and Robert also tell us why having an A-student mentality can hinder new investors (and make them a target for gurus), and why you don’t need to know every step in order to just get started. You’ll learn why Robert is about to make his 137th trip to Belize, why he and Russell stopped investing in Mexico and Australia, and why you should design your own personal investment philosophy, too.

If you’re a big-picture thinker interested in using the tax code to your advantage and staying on top of market cycles, this show will blow your mind. Listen here or on your favorite podcast app, rate and review us, and subscribe so you won’t miss the next one!

In This Episode We Cover:

How these guys inspired Brandon
What an entrepreneur does
How gurus take advantage of hungry new investors
How they are preparing for the next real estate downturn
Their strategy for building big wealth in other countries
How they learned the lesson about needing sufficient reserves the hard way
What to do when available credit goes away
Why they invest in resorts Where we are in the market cycle
Why they are locking in long-term debt right now What they learned from the 2008 crash How to prepare and win for the next downturn
What an opportunity zone is and how to use them
Why they study global economics
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Real Estate Podcast Robert Kiyosaki
BiggerPockets Podcast 052: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy
Peak Prosperity
Brandon's Instagram
David's Instagram

336: $900 to $4.5MM Net Worth by 34 with Robert Jones Jun 27, 2019

Location, location, location! On today’s show, Brandon and David sit down with Robert Jones, a real estate agent and investor in Colorado, who has built a cash-flowing portfolio with millions of dollars in equity in an expensive market.

Robert will blow you away with his knowledge on making deals work (even through the MLS) and choosing what to buy. You won’t want to miss his advice on buying properties with super low down payments, targeting ideal locations that attract ideal talents, and using agents to do the work of finding deals. You’ll also love his tips for creating systems so he can travel while making money and identifying the qualities of a good agent.

Robert is extremely humble for having such massive success, and he shares his whole playbook for how he built a portfolio of 26 units worth millions before the age of 35. DO NOT miss this one. Download today!

In This Episode We Cover:

Turning primary residences into rental properties
What are capital gains
Should you rent or sell your house?
Moving to a new house every year
Taking 3 months off while having a real estate business
Real estate to fund your life
Being an agent or not
How "The Stack" works
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Webinar
GoBundance
Audible
Federal Housing Finance Agency
BiggerPockets Podcast 280: The Key to Making Great Deals (Hint: Overlooked Properties!) with Mark Hentemann (Writer for TV’s Family Guy!)

335: 70+ Units Per Year and How Exactly to Make a Lowball Offer with Ryan Dossey Jun 20, 2019

A whopping 73 units a year without negotiating your own deals! Today’s guest Ryan Dossey breaks down his business and shares how he built a deal-finding pipeline he runs without doing the work!

Ryan gives great insight into how he finds deals directly from sellers, has team members meet with and close deals, then decides if he wants to keep them or wholesale them. If you’ve ever been interested in how to build systems to get your time back, this is a show for you. You won’t want to miss how Ryan used BiggerPockets to start and grow his business, how he began wholesaling, and how he uses NONE of his own money. You’ll also love hearing how Ryan made $10K in four hours on his first deal and how he built a conveyor belt to close deals while he’s out of the country. Plus, he gives investors AMAZING advice on approaching a mentor the right way!

Ryan is a great example of how to use BiggerPockets to grow your wealth and portfolio, and he shares some powerful tips about how you can do the same. Download this one today!

In This Episode We Cover:

How Ryan got into real estate in spite of never graduating high school
How he learned to see the world from a different perspective than everyone else
Why he markets directly to sellers
How he used BiggerPockets to build several different businesses
How he got his first wholesale deal (and made $10K in four hours doing so)
Why he went full time into RE and how he knew it was the right time to do it
How he chooses his markets
What no one tells you about the RIGHT way to approach a potential mentor
How he built a conveyor belt to close deals while he’s out of the country
Why he invests in multifamily
The No. 1 thing a newbie needs to know to get started wholesaling
Why focusing on one task is key to being successful faster
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Webinar
GoBundance
BiggerPockets Airbnb Calculator
BiggerPockets Podcast 068: Being a Superhero House Flipper, Investor, and Team Leader with Mark Ferguson
InvestFourMore
Podio
Deal Machine (App)
CallPorter

334: Using Other People’s Money to Take Down Flips, Multifamily and Self-Storage Deals with Ben Lapidus Jun 13, 2019

Self-storage with OPM! Today’s guest Ben Lapidus sits down and spills the beans on his strategies for buying self-storage units and running an investment fund with other people’s money. Ben has some really great advice for those who want to get started in self-storage, including how he got started getting 25% of other people’s deals, why he jumped from single family into commercial opportunities, and how he mitigates risk in the self storage space. You also won’t want to miss what he shares regarding how he picks a market, his criteria for buying a deal, and where he recommends brand new self storage investors get their start (hint-it’s all about size). If you want to have your mind blown, you CAN’T miss his technique for seller financing negotiating where he improves his terms by saving the seller’s money on their taxes-brilliant! This episode is completely full of high energy, content packed, practical advice for getting into commercial opportunities with other people’s money and we guarantee you will learn a TON. Download today and buckle your seat belt! In This Episode We Cover: How Ben found real estate after finding success in other business ventures Starting off investing with partners and getting 25% of the deal with none of the risk or capital Why he jumped from SFR to apartments What he learned buying an awful property on his first deal How he put together his first syndication Why he invests in self storage How he found opportunities while looking for something else How he focuses on his strengths and finds partners to handle his weaknesses How he finds deals in today’s market His criteria for what he needs to see in a market How he mitigates risk when buying self storage Why he looks for “expansion potential” How he finances his deals, the strategy he recommends for newer self storage buyers to look into His BRILLIANT tax saving strategy he uses to save thousands of dollars on seller financing opportunities The one thing he think should be taught in school that isn’t How he recommends people improve their people skills and forming connections And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BiggerPockets Premium Best Ever Conference BiggerPockets Podcast 227: From Single Family Houses to $130,000,000 in Multifamily with Joe Fairless $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne

333: A Guide to Getting Started in Commercial Real Estate (+ Laundromats?!) With Ken Wimberly Jun 06, 2019

Commercial real estate like you’ve never heard it before!

On today’s episode, Brandon and David sit down with Ken Wimberly, the owner of a Keller Williams commercial brokerage and a commercial investor himself. Ken shares some incredible tips on how to get into owning commercial property, including how to find quality tenants, how to structure the lease, and how to protect yourself from a changing market.

He also provides great advice on building relationships and identifying who NOT to partner with. Ken goes on to talk about how he went from working in a pizza restaurant to cashing his first check for 50K as a broker—with absolutely no training program! He shares some incredible advice for opening a laundromat, making huge returns, and successfully investing in other people’s deals, too.

If you’ve ever been interested in how to do big deals without big headaches, this episode is for you!

In This Episode We Cover:

How he builds relationships
How he learned the commercial business sitting across from a mentor and listening
How he buys laundromats Investing in commercial spaces
Using OPM to buy land and selling a 5K investment for 150K
How he earned a commission of $50K on a deal he couldn’t do
How he chooses his business partners His morning routine
What to look for in a potential partner to disqualify them
How newbies should start off investing in commercial property
How to balance investing with family time
How he structures deals
Tips on owning a business inside your commercial building
How he invests in other people's deals
And SO much more!

Links from the show:

BiggerPockets Forums
BiggerPockets Webinar
BiggerPockets Commercial Lenders
CBRE
BiggerPockets Podcast 190: Building 61 Different Passive Streams of Income with Pat Hiban
BiggerPockets Podcast 322: 3 Things Every Leader MUST Do to Scale with Ben Kinney
Google Alerts
GoBundance
BiggerPockets Business Podcast

332: How to Build a Deal-Finding MACHINE with Adam Johnson and Brent Moreno May 30, 2019

Build a deal funnel to fuel your business and keep the leads coming!

On today’s show Brandon and David sit down with Adam Johnson and Brent Moreno, two wholesalers running a business that fuels their investment portfolio!

Adam and Brent share several key pieces that make their business go, like how they have built systems to reduce their workload, how they keep their pipeline full of leads, and how they use a “three foot rule” to make sure everyone knows how they can help them. You’ll also love how they recruit others to work in their business, how they use stories to hold people’s attention, and how they have leveraged an army of Uber drivers to find them deals!

These two guys have formed a great partnership, and share TONS of practical, meat-and-potatoes advice for how you can do the same. Their advice on “helping over haggling” alone is priceless! If you want to learn how to form the perfect partnership, how to build a portfolio off of a consistent pipeline of deals, AND how to wholesale those deals for profit, this is an episode you can’t miss!

In This Episode We Cover:

How they got into wholesaling
How their business is structured
Why they love wholesaling more than anything else
How they use systems to create success when they don’t feel like working
What a perfect partnership should look like
The funnel they have set up to find, capture, and follow up with distressed seller leads
The three-foot rule
How they use Uber drivers to find them deals
How they are helpers not hagglers
The number one thing a newbie needs to do well to start a wholesale business
How to recruit others to bring you deals
How to use stories to get others involved in helping your business
How they believe there is no “box” to think outside of
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Webinar
BiggerPockets Youtube Channel
BiggerPockets Money Podcast
BiggerPockets Business Podcast
Podio
InvestorPO
REIpro
PropStream
ListSource
LeadSherpa
David Goggins on Joe Rogan’s Podcast
Gary Johnston

331: 10 Deals on a $20K Waitress Salary With Ashley Hamilton May 23, 2019

Ten doors free and clear on a blue-collar salary—today’s guest shares exactly how she did just that!

Brandon and David sit down with Ashley Hamilton, who shares the incredible story of how she went from poverty to success through real estate investing with very little help or guidance.

Ashley shares her remarkable strategies for investing in a market where very few others could, how she used BiggerPockets to develop a system, and how she got the city of Detroit to offer her a deal to buy a property at $500! Ashley also shares how she buys cheap houses at auctions, how she finds banks to finance her rehabs, and how she uses keyword alerts in the BiggerPockets forums to snag deals before anyone else! And be sure to listen for Ashley’s “no milk for her cereal” strategy to overcome and succeed!

If you’re looking for an incredibly inspirational story that highlights how creativity and resiliency can pay off, you want to download this today.

In This Episode We Cover:

How Ashley found a way to invest in a market when very few others could
How she got the city of Detroit to call her and offer her a deal to buy for $500
Getting to nearly a half a million dollars in equity in a few short years
How she got started investing with nothing but BiggerPockets as a guide
Finding the best part of the city to invest in
Why she fix her rentals up to suburb quality even in low-income neighborhoods
Building a portfolio of 10 doors free and clear
The way she uses the BiggerPockets forums to help her make money
Landlording like a boss
Giving back to your tenants
And SO much more!

Links from the Show:

BiggerPockets Forums
BiggerPockets Webinar
Tarl Yarber's BiggerPockets Profile
Dave Van Horn's BiggerPockets Profile
Brie Schmidt's BiggerPockets Profile
Joe Fairless' BiggerPockets Profile
BiggerPockets Instagram
Brandon's Instagram
David's Instagram
Rentometer
Rich Dad Poor Dad Seminar
GoBundance
BiggerPockets Podcast 260: The Ultimate Guide to Negotiating (for the Negotiation-Averse) With Former FBI Hostage Negotiator Chris Voss

330: How to Ditch Distractions and Get WAY More Done With Cal Newport May 16, 2019

Incredible show alert! You don’t want to miss this one: Brandon and David sit down with bestselling author Cal Newport (who wrote So Good They Can’t Ignore You: Why Skills Trump Passion in the Quest for Work You Love, Deep Work: Rules for Focused Success in a Distracted World, and so on) to discuss just what makes high performers different than the rest.

Cal shares incredible insight based on his research as a professor at Georgetown University, including how boredom can serve a very useful purpose, how to improve your focus to master your craft, and how building “career capital” can open doors to the life you’ve always wanted.

Cal also shares life-changing advice on how starting the day in “monk mode” can supercharge your productivity, how to set better expectations with team members, and how to rebuild your digital life in 30 days.

This episode is so good you’ll feel guilty you didn’t have to pay. Download it today!

In This Episode We Cover:

Cal’s story
Improve your focus and remove distractions to increase productivity
How to combine “deep work” with “shallow work” to stay mentally energized
Building career capital you can then invest to build a better life
What successful people do that unsuccessful people don’t
How to set better expectations with team members
How to start your day in “monk mode” and be insanely productive
How to give your hours a job and make time work for you
How to use boredom to recharge and motivate you
His thoughts on social media and how it can rob you of time
Taking the information you’re learning and letting it sink in
Detox and rebuild your digital life in 30 days
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
Lifeonaire by Steve Cook
So Good They Can’t Ignore You by Cal Newport
The 4-Hour Week by Timothy Ferriss
Deep Work by Cal Newport
Digital Minimalism by Cal Newport
The Rise of Theodore Roosevelt by Edmund Morris
Gates by Stephen Manes

Connect with Cal

Cal’s Personal Website

329: Financial Freedom Before 30 Through Just 10 Deals With Felipe Mejia May 09, 2019

Financially independent before 30 years old! Today’s guest Felipe Mejiasits down with Brandon and David and shares the incredible story of how he scaled from a $3,000 mobile home to 10 units and financial independence!

Felipe has created a unique system that involves multi-unit properties, short-term rentals, and leveraging others to help run his business. The result? He is currently crushing it!

You don’t want to miss the insanely powerful “no-why principle” he’s used relentlessly to succeed whenever he’s told no. Felipe also discusses how he leveraged the job of communicating with his Airbnb guests to buy his time back, and how he took advantage of a construction boom in his hometown to service its workers. He also talks about how he lost 30 pounds after realizing he was in the wrong profession, and how he bought a mobile home for $3,000 and then later got paid $30,000 for it!

This episode is jam packed with fun, exciting content and practical advice for those looking to exit the rat race and achieve financial independence through creative strategies with real estate.

Download it today!

In This Episode We Cover:

How he took his disappointment from missing out on a police career and turned it into RE investing success
His “no-why principle”
How he got his wife to buy into his vision
How he took advantage of a booming construction industry to rent rooms out to builders
His advice for pushing through being told no
How he would listen to the BiggerPockets podcast in headphones while working in a construction job
Real estate replacing his full time job before age 30
Delegating the work of his various businesses
How he lives for free in Nashville
How he leverages out communicating with his Airbnb guests and loves it
How he got paid $30,000 on a property he paid $3,000 for
And SO much more!

Links from the Show

Books Mentioned in this Show

Miracle Morning by Hal Elrod
Rich Dad Poor Dad by Robert Kiyosaki
Richest Man in Babylon by George S Clason
Lifeonaire by Steve Cook
Why the Rich Are Getting Richer by Robert Kiyosaki

Tweetable Topics:

“Success is the other side of fear.” (Tweet This!)
“People stop at no and don’t ask why.” (Tweet This!)
“Do whatever works for you.” (Tweet This!)
“My rentals feed my life, my flips feed my rentals.” (Tweet This!)

Connect with Felipe

328: How to Laser-Focus on the Wildly Important With Author Chris McChesney May 03, 2019

If you’ve ever had an interest in turning your desire to invest in real estate into a well-oiled business machine, today’s episode is for you!

Chris McChesney, bestselling author of The 4 Disciplines of Execution, shares some mind-blowing strategies recognized worldwide for their ability to help followers achieve more success! Chris shares the difference between lead and lag activities, how to use the power of leverage to move your business forward, and how staying busy isn’t always in your best interest.

He also shares eye-opening insight into the way we use confirmation bias to avoid making progress, how to break major wars into smaller, winnable battles, and the secret of “tendency override.” Chris has developed an amazing system using four key strategies to improve your odds to succeed and has implemented them with companies like Coca-Cola, Comcast, The Ritz-Carlton, and more!

Don’t miss this episode chock full of actionable advice for improving your life, as well as your business!

In This Episode We Cover:

The difference between lag and lead activities
How to use the power of leverage to move your business forward
How staying busy isn’t always in your best interest
How to identify your most important goal
The secret to losing weight—and how to apply it to real estate
What most business owners do wrong
How confirmation bias clouds your vision
Learning the secret of “tendency override”
Breaking major wars down into small battles
How to keep your goals small to make sure you achieve them
How to avoid giving in to self-victimization
How to develop a scorecard to track your progress
How to use accountability to stay on track
And SO much more!

Links from the Show

Books Mentioned in this Show

The 4 Disciplines of Execution by Chris McChesney
Rich Dad Poor Dad by Robert Kiyosaki
The ONE Thing by Gary Keller
Essentialism by Greg McKeown
Stephen R. Covey’s The 7 Habits of Highly Effective People
The 12 Week Year by Brian P. Moran
90 Day Journal by Brandon Turner
As a Man Thinketh by James Allen
Built to Last by Jim Collins
Good to Great by Jim Collins

Tweetable Topics:

“The real enemy of execution is your day job.” (Tweet This!)
“You can be busy all day long and not be a step closer to your goal.” (Tweet This!)
“The most strategic work you do will feel like you’re wasting time.” (Tweet This!)
“If we don’t track, we lie to our selves.” (Tweet This!)
“Make and keep a promise to yourself.” (Tweet This!)
“If you think the problem is out there, that very thought is your problem.” (Tweet This!)

Connect with Chris

Special Announcement! May 02, 2019

Today, we’re introducing the BiggerPockets Business Podcast, co-hosted by J and Carol Scott. Subscribe now using the links below; Episode 1 is up now! SUBSCRIBE ON APPLE PODCASTS (IPHONE): https://podcasts.apple.com/us/podcast/biggerpockets-business-podcast/id1460051721 SUBSCRIBE ON GOOGLE PODCASTS (ANDROID): https://www.google.com/podcasts?feed=aHR0cHM6Ly9icGJ1c2luZXNzLmxpYnN5bi5jb20vcnNz The BiggerPockets Real Estate Podcast will be back tomorrow, and we’ll be back to regular programming next week. Future episodes of BiggerPockets Business will drop on Tuesdays -- the day after the BiggerPockets Money Podcast. Oh, and go follow the BiggerPockets Business Podcast on Twitter @BPBusinessShow and Instagram @BiggerPockets!

Sneak Peek: Excerpt from “Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple” Apr 26, 2019

In this special half-episode, David reads from Chapter 2 of the brand-new book he’s written on the BRRRR strategy. This particular passage goes to the heart of what makes BRRRR work: buying great deals. So how do you pull that off? In this chapter, David reveals: what he looks for when targeting properties, how to practice analyzing deals so you won’t be afraid to pull the trigger, and how to find team members and align their incentives with yours. Order “Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple” today at www.BiggerPockets.com/BRRRRbook. Physical copy, eBook, or audio version (read by a professional narrator) are all available. Or you can also get EVERY format if you order the Ultimate Package. That includes the exclusive eBook, “Long-Distance BRRR,” a bonus video on how to interview and hire a great contractor, and access to a live Q&A webinar with David. In the meantime, enjoy this bonus episode!

327: The “Buy, Rehab, Rent, Refinance, Repeat” Method Made Simple With David Greene Apr 25, 2019

It’s here—THE book on BRRRR! And who better to write it than the leading authority on this strategy: our co-host David Greene.

In this episode, he breaks down exactly how to “Buy, Rehab, Rent, Refinance, and Repeat” your way to wealth.

David reveals how BRRRR allows him to force equity, leverage the talents of others, and recycle his capital so he didn’t have to keep working 100-hour weeks as a police officer.

You’ll learn about the velocity of money, the “core four” players every BRRRR investor needs on his or her team, and the way to eliminate fear by taking a cold, hard look at the numbers.

David also explains how this strategy can reduce capital expenditures and how to come to the bargaining table with a cash offer that puts you in the driver’s seat.

He also addresses some common objections, including the notion that it’s difficult to influence the appraised value of your rehabbed property. Plus, you won’t want to miss the “Deal Deep Dive” where David goes into detail about one of his recent real-life BRRRR deals.

Whether you’re brand new to this method of investing or are looking to fine-tune your BRRRR skills, this episode will provide you with a ton of value. Still, we only cover part of what’s in David’s book, so check it out on the BiggerPockets Bookstore.

In This Episode We Cover:

Who David is
Defining and explaining BRRRR
Discovering the main benefits to BRRRR
How to increase your ROI
Understanding what increasing the velocity of your money is
Getting good at what you do
How to decrease risk by building equity and pulling capital
How to scale to financial freedom faster
Ways to lower CapEx expenses
And SO much more!

Links from the Show

Books Mentioned in this Show

Buy, Rehab, Rent, Refinance, Repeat (BRRRR) by David Greene
Long-Distance Real Estate Investing by David Greene
The Millionaire Real Estate Agent by Gary Keller
So Good They Can’t Ignore You by Cal Newport
Digital Minimalism by Cal Newport

Tweetable Topics:

“Make money work for me.” (Tweet This!)
“Repetition builds mastery.” (Tweet This!)
“Operating from ignorance or inexperience is operating with a massive amount of risk.” (Tweet This!)
“Down payment has nothing to do with risk.” (Tweet This!)
“BRRRR investing is about gaining equity without losing capital.” (Tweet This!)

Connect with David

326: Health, (Big) Wealth, and Total Accountability With David Osborn, Pat Hiban, Tim Rhode (and Josh!) Apr 18, 2019

What does true wealth mean to you? Maybe it’s having control over your time or having the means to donate part of your income to charity. Maybe it means feeling healthy enough to jump out of bed and attack the day.

In today’s episode, Brandon, David, and Josh (remember him?) speak with three financially independent investors about what motivated each of them to work so hard toward their goals.

Early in their careers, David Osborn, Pat Hiban, and Tim Rhode realized they shared a common goal: to steadily accumulate streams of passive—or as they call it—“horizontal” income. So they got together and made a serious commitment, vowing to hold each other accountable every step of the way—even if it meant dishing out some tough love.

In this episode, you’ll learn how finding an accountability partner can change the trajectory of your career and life, and how giving time and money can not only make you feel better but also make you more wealthy. You’ll also learn how David, Pat, and Tim built dozens of streams of income by living below their means, connecting with the right people, and taking advantage of opportunities.

This is a must-listen if you’ve ever asked the question, “Why am I working so hard, anyway?” You’ll come away from this episode motivated to hold yourself and your loved ones accountable so you can reach your goals together.

Download it today!

In This Episode We Cover:

The background of these founders
The story behind the three amigos and the founding of GoBundance
The Pillars of GoBundance
Having a genuine contribution
Having authentic relationships
Having extreme accountability
Having horizontal income
Having age-defying health
Having bucket list adventures
How to reach your financial goal
Finding motivation to earn and grow more
And SO much more!

Links from the Show

Books Mentioned in this Show

The Miracle Morning by Hal Elrod
The 4-Hour Work Week by Timothy Ferriss
Rich Dad, Poor Dad by Robert Kiyosaki
6 Steps to 7 Figures by Pat Hiban & Gary Keller
Rich Dad’s Cashflow Quadrant by Robert Kiyosaki
Retire Young Retire Rich by Robert Kiyosaki
Richest Man in Babylon by George S. Clason
How to Invest in Real Estate by Brandon Turner and Joshua Dorkin
Think and Grow Rich by Napoleon Hill
As a Man Thinketh by James Allen
The E-Myth Revisited by Michael E. Gerber

Tweetable Topics:

“How can I work as little as possible and keep making money?” (Tweet This!)
“Spend your time doing the things that make you money and delegate the rest.” (Tweet This!)
“Real estate is the everyday man’s way to wealth.” (Tweet This!)
“My car is always secondhand.” (Tweet This!)
“Set financial goals, not material ones!” (Tweet This!)
“All the wins I’ve got in life have all came from me willing to be vulnerable.” (Tweet This!)
“It’s weird because every successful person I’ve ever met spends more time thinking than doing anything else.” (Tweet This!)
“You can’t build a successful business without health.” (Tweet This!)
“A life without contribution is a life not worth living.” (Tweet This!)
“Always be where you are.” (Tweet This!)

Connect with Pat, Tim, and David

GoBundance

325: From Major Business Failure to Buying 20 Houses a Month With Aaron Amuchastegui Apr 11, 2019

Awesome show alert! Today’s guest is so full of information you will be blown away.

Aaron Amuchastegui sits down with Brandon and David and explains how he buys 20 deals a month while practicing principles of the four-hour workweek. It’s an incredible story about how he built a big business with foreclosures, how he keeps his pipeline full (including how he buys deals at auctions), how he does due diligence, and how he tracks down owners of vacant properties.

You won’t want to miss his advice on owning C- or D-level properties, how he uses flip profits to fund a business that acquires rentals, and—most importantly—how you can lose money in real estate even if you’re buying great deals.

This episode is full of more powerful insight than we can begin to mention. Aaron is a big-time real estate investor who has gone from rags to riches, to rags to riches again. Tune in to hear him share everything he learned along the way.

Download today!

In This Episode We Cover:

How he got into real estate investing
Buying at an auction
The different types of auctions
How to approach and talk to cash buyers
The moral aspect of real estate
How to do title research
A big surprise after buying a sight-unseen house
Bouncing back from losing everything he built
Why he thinks flipping is a job
And SO much more!

Links from the Show

Books Mentioned in this Show

The Miracle Morning by Hal Elrod
The 4-Hour Work Week by Timothy Ferriss
Rich Dad, Poor Dad by Robert Kiyosaki

Tweetable Topics:

“There’s so many problems that you can solve in real estate.” (Tweet This!)
“I make money 9/10 houses. I take a loss 1/10.” (Tweet This!)
“Flipping is only money when you keep flipping.” (Tweet This!)

Connect with Aaron

Email Aaron: aaron@flsonline.com or aaron@fivehourschoolweek.com
Aaron’s Company Website

324: Financially Free in Less Than 5 Years Through Apartment Investing With Michael Blank Apr 04, 2019

Do you want to invest in multifamily apartments but feel intimidated by the process? If so, today’s episode is for you!

Brandon and David interview Michael Blank, an experienced multifamily investor/educator, who breaks down the seemingly daunting process into super simple steps.

Don’t miss Michael’s advice on how to get started in the space, how “the law of the first deal” will increase your odds of success, and how multifamily investing can lead to financial independence in five years. You’ll also love learning common multifamily vocabulary, what an ideal property looks like, and how to develop relationships with potential investors.

Michael also shares incredible insight into how he built his empire, as well as his top two negotiating tactics and “three levers” to successfully negotiate a multifamily deal!

This is one of THE most informative shows we’ve ever done. Download it now!

In This Episode We Cover:

How he got started and why he recommends multifamily investing
Scaling his business despite running out of of time
What is “the law of the first deal”
The multiple ways syndicators make money in a deal
Common multifamily terms and what they mean
How to improve the value of a multifamily property
What an ideal deal looks like
Developing pre-existing relationships with potential investors
Why cash flow is so important in multifamily
His top two negotiating tactics
How he bought a 321-unit building, how he BRRRR-ed a multifamily building, and returned 96 percent of their investors’ capital in the process
His “three levers” to negotiate in a multi family deal
And SO much more!

Links from the Show

Books Mentioned in this Show

Vivid Vision by Cameron Herold
The ABCs of Real Estate Investing by Ken McElroy
Rich Dad Poor Dad by Robert Kiyosaki
How We Bought a 24-Unit Apartment Building for (Almost) No Money Down by Brandon Turner
Raising Private Capital by Matt Faircloth
The ONE Thing by Gary Keller
The Miracle Morning by Hal Elrod
Financial Freedom with Real Estate Investingby Michael Blank

Tweetable Topics:

“The value of the first deal far outweighs any kind of money you can make from it.” (Tweet This!)
“Nobody is rich on their first deal, but they’re rich because of their first deal.” (Tweet This!)
“I’d rather do an 80/20 gigantic deal than 70/30 of nothing.” (Tweet This!)
“Structure your deals based on who your investors are.” (Tweet This!)
“Never take money unless you know what the heck you are doing.” (Tweet This!)
“Always raise more money than you think you need.” (Tweet This!)

Connect with Michael

323: How to Attract Deals and Earn More Through the Magic of Networking With Travis Chappell Mar 28, 2019

Would getting more deals through your network help your real estate business? Today’s guest specializes in just that!

Brandon and David sit down with Travis Chappell, host of the “Build Your Network” podcast, and dive into how to create success through other people.

Travis shares strategies for using his network to find deals, mastering the art of giving to increase your success, and becoming a leader in any space you are passionate about—no matter who you are! You won’t want to miss his “anchoring” negotiating strategy, his advice on the right way to reach out to mentors/influencers, and his five tips for starting off an effective working relationship!

This is one of the most value-packed shows BiggerPockets has done. Download it now!

In This Episode We Cover:

How Travis uses his network to source deals
Why he rents his primary residence
The power of creating a platform like a podcast or meetup
The key to successfully partnering with family
Why givers are more successful
How his networks really affect his net worth
The reason why he’s selling his real estate properties
The beauty of adding value first to others
His five effective tips for reaching out and connecting with anyone
His “anchoring” negotiating tactic and how he used it to land a deal
Why house hacking is his favorite way to get started in real estate
And SO much more!

Links from the Show

Books Mentioned in this Show

Give and Take by Adam Grant
Millionaire Real Estate Investor by Gary Keller
Never Split the Difference Chris Voss

Fire Round Questions

Tweetable Topics:

“Most of the things that we need to master fall under the communication category.” (Tweet This!)
“You don’t have to be an expert to start a podcast or a meetup.” (Tweet This!)
“Every deal is different. What works for me may not work for you.” (Tweet This!)
“The deal is in the numbers. If it’s a good deal, it will make money regardless of all the other stuff.” (Tweet This!)
“What you focus on, you get more of.” (Tweet This!)
“There’s deals for everybody out there!” (Tweet This!)
“Not all debt is bad.” (Tweet This!)
“The number one thing about networking is giving value.” (Tweet This!)

Connect with Travis

322: 3 Things Every Leader MUST Do to Scale with Ben Kinney Mar 21, 2019

Today’s guest grew up poor, living in a cabin without power or running water. But now he controls millions of dollars in real estate, owns several companies, and leads one of the country’s top-producing sales teams.

How did Ben Kinney pull that off?

The story involves, of course, hard work and tenacity. It involves a book that shifted his mindset at just the right time. And most importantly, it involves teamwork.

In this episode, Ben lays out the hiring process he used to build a real estate agent business. He talks about how he got used to rejection working as a “cable guy” and shares how YOU can find an off-market deal and start house hacking—without a lot of money out of pocket.

Ben also details the seven goals that influenced his every decision and the three things every leader should do when growing his or her business. (Hint: “inspect what you expect.”)

In the “Deal Deep Dive” segment, Ben tells us how he was able to buy a company for a hefty price by controlling the terms of the deal.

He’s a big-picture guy, who will challenge you to think differently about real estate and business. If you feel held back by tasks you don’t enjoy, listen to this show for practical tips on how to delegate more effectively.

Today’s episode will inspire you and help you invest more efficiently, so you can do what you love and watch your wealth grow.

In This Episode We Cover:

The amazing story behind how Ben got started selling homes
Being recession proof
Why he builds and buys businesses
Using synergy to grow his RE empire
What he looks for in a deal
Why he likes to buy and hold instead of flip
How big businessmen save on taxes
What is the income triangle and how to flip it
Finding great leaders as partners or employees
Building an ecosystem to help find him deals
Questions he asks new hires or partners to determine if they are the right ones
The story about how he spent six days to find ONE hire
Working only do things he enjoys
And SO much more!

Links from the Show

Books Mentioned in this Show

The Millionaire Real Estate Agent by Gary Keller
Cashflow Quadrant by Robert Kiyosaki
Rich Dad Poor Dad by Robert Kiyosaki
Set for Life by Scott Trench
Extreme Ownership by Jocko Willink
Tax-Free Wealth by Tom Wheelwright
The ONE Thing by Gary Keller and Jay Papasan

Tweetable Topics:

“I hate when people call me an entrepreneur and the reason is because 98% so-called entrepreneurs fail.” (Tweet This!)
“Systems make the ordinary become extraordinary.” (Tweet This!)
“People complicate things to justify their inactions.” (Tweet This!)
“You can’t be chasing money because money runs too fast.” (Tweet This!)
“Hire the things you don’t enjoy.” (Tweet This!)

Connect with Ben

BONUS: Excerpt from “The Book on Negotiating Real Estate” Mar 15, 2019

In this bonus episode, co-authors Carol and J Scott read from Chapter 5: Seller Motivation and Leverage. This passage reveals the exact questions the authors ask sellers, and how to “aggressively listen” for valuable information — even when making casual conversation. Plus, Carol and J do some investor/seller role-playing.

Order “The Book on Negotiating Real Estate” today at www.BiggerPockets.com/NegotiatingBook; you can get a physical copy, eBook, or audio version (that one is read by professional narrators) — OR just get the Ultimate package, which includes everything, PLUS access to two live Q&A webinars with Carol and J, two bonus videos, and a Quick Reference Guide with the top negotiating tips and tricks from the book

321: How to Negotiate Real Estate—Expert Deal-Making Tactics with J and Carol Scott and Mark Ferguson Mar 14, 2019

Would your real estate investing business benefit from better negotiating tactics? Of course it would!

On today’s show, Brandon and David sit down with J and Carol Scott, as well as Mark Ferguson, co-authors of the new BiggerPockets book The Book on Negotiating Real Estate. The authors discuss several powerful negotiating strategies, plus common misconceptions about negotiating, how “winning” in negotiating doesn’t always mean the other side is losing, and how the best deals are done through building rapport (with examples of how to do just that).

You won’t want to miss their tips on how to prepare for a negotiation beforehand—something that’s made them hundreds of thousands of dollars over the years—and how to negotiate with your own contractor to get the best prices possible!

This episode is full of advice to help you, the investor, save money and get deals. If you want to experience better results getting what YOU want out of a deal, download this one today!

In This Episode We Cover:

Introducing J, Carol, and Mark
Common misconceptions about negotiating
How winning doesn’t always mean the other side losing
The right mindset when it comes to negotiating
How building rapport can get you deals
Learning to shift the negotiation off of price and into something else
Tips in preparing for your negotiation beforehand
Negotiating with your contractor to get the best deal possible
The tip that’s made them hundreds of thousands of dollars over the years
How they closed on a deal using negotiating tactics to lower the price on an already great deal
And SO much more!

Links from the Show

Books Mentioned in this Show

BRRRR by David Greene
The Book on Flipping Houses by J. Scott
The Book on Negotiating Real Estate by J. Scott, Mark Ferguson, and Carol Scott
Moneyball by Michael Lewis
The Book on Rental Property Investing by Brandon Turner
Long-Distance Real Estate Investing by David Greene
The Millionaire Real Estate Investor by Gary Keller
Now, Discover Your Strengths by Marcus Buckingham
Too Perfect by Jeannette Dewyze & Allan Mallinger
The ONE Thing by Gary Keller and Jay Papasan

Tweetable Topics:

“90% of negotiation is literally the skills all of us already have.” (Tweet This!)
“Treat every conversation as a discussion as opposed to as a questionnaire.” (Tweet This!)
“Negotiate everything, always.” (Tweet This!)
“The person who cares the least has the most power.” (Tweet This!)

Connect with J and Carol

Connect with Mark

320: Hands-On BRRRR Investing and DIY Secrets with Instagram Star Brittany Arnason Mar 07, 2019

Imagine building a business around work you’d do for free. Sound pretty great?

Today’s guest has done just that, and her story may change the way you think about investing. Brittany Arnason is a 26-year-old who’s converted her talent for hands-on work into a cash-flowing, 10-unit rental portfolio.

In this episode, Brittany shares how she learned the business of real estate and construction as a small child, bought her first property for $25,000, and worked on it herself to save money and learn the business.

She goes on to reveal her DIY secrets for adding value at minimal cost, how she applied skills she learned at her 9 to 5 to make her a more successful investor, and how she operates as a woman in a male-dominated industry.

Brittany has an incredible energy, spark, and passion for real estate, and it is infectious. Don’t miss how she uses creative strategies to finance her deals and the BRRRR method to fund unlimited projects.

This is an episode that will leave you pumped up and ready to go get your next (or first) deal. Download it today!

In This Episode We Cover:

How Britt got her first rental property at the age of 18!
Quitting her job as a power engineer
Pros and cons of doing your own work
The Lifeonaire Strategy
Things that make a huge impact in a property
Using personal line of credit to fund deals
What is a Step Up mortgage
Doing BRRRR strategy with her boyfriend
Finding deals through realtors and MLS
How she learned DIY skills from the internet
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Rental Property Investingby Brandon Turner
Lifeonaire by Steve Cook
Unlimited Power by Tony Robbins
BRRRR Book by David Greene (coming soon!)
J. Scott’s Book on Estimating Rehab Cost
Long-Distance Real Estate Investing by David Greene
90 Days Journal by Brandon Turner (coming soon!)
Gary Vaynerchuk’s Crushing It!
The Subtle Art of Not Giving a F*ck by Mark Manson
4-Hour Work Week by Tim Ferriss

Fire Round Questions

Tweetable Topics:

“New builds can be easier and more straightforward than rehabs!” (Tweet This!)
“If it keeps you motivated and it keeps it fun for you, it probably will help your business.” (Tweet This!)
“You have to do whatever it takes to make it work.” (Tweet This!)

Connect with Britt

Britt’s Instagram

319: Avoid These Common Newbie Mistakes! Hard-Earned Lessons from Nathan Brooks Feb 28, 2019

How does finding and closing 15 deals a month sound? Today’s guest shares exactly how his team does just that!

Returning guest Nathan Brooks goes into detail about how he built a turnkey business that consistently finds and closes deals on a large scale. He also shares great info regarding how he uses the DISC profile to understand himself and his team members, his three-step process for rehabbing homes, and why he always has at least two sets of eyes on every deal.

Plus, he reveals what he wishes he had done differently in the beginning and how to alternate between a “10,000-foot view” of your business and being on the front line. You also won’t want to miss his discussion about mistakes newbies should avoid.

Nathan is a long-time investor with a heart-felt passion for helping others succeed. If you want to grow your real estate business, be sure to check out the incredible advice and encouragement he shares in today’s episode!

In This Episode We Cover:

How Nathan uses the DISC profile to understand himself
What he would have done different if starting his business again
His three-step process for rehabbing homes
Why he always uses two sets of eyes on every deal
How he utilized meetups to grow his business
How his team is buying 12-15 deals a month
His rule for replacing anything that doesn’t have a 10-year life span
Mistakes for newbies to avoid
How to alternate between a big picture view and daily activities to lead to success
How he handled his nightmare flip
And SO much more!

Links from the Show

Books Mentioned in this Show

Traction by Gino Wickman
Never Split the Difference by Chris Voss
On the Shortness of Life by Seneca
Extreme Ownership by Jocko Willink
Go Giver by Bob Burg

Fire Round Questions

Tweetable Topics:

“As soon as you can afford it, hire your weaknesses.” (Tweet This!)
“The direction of your business is your responsibility.” (Tweet This!)
“If you’re not taking professional pictures of your rental property, stop and start doing that now.” (Tweet This!)
“Your business is only as good as you are.” (Tweet This!)

Connect with Nathan

318: 100 Units in the First 2 Years (Using Bank Financing!) with Collin Schwartz Feb 21, 2019

Interested in buying over 100 units in two years’ time? Today’s guest did just that!

Collin Schwartz shares the amazing story of how he built an impressive portfolio on the foundation of direct mail and networking through meetups. You’ll learn how Collin utilized a clever twist on the BRRRR method to avoiding paying cash for properties (but still get back his down payment), how he uses balloon notes to do this, and how his highly targeted direct mail strategy led to it all being possible. Collin also shares how he runs meetups to find deals, what his criteria are for buying properties, and how he partners/leverages with others to make this incredible success possible over such a short period of time.

Collin also earns income managing properties—and even leverages that business to find deals too! If you want a solid game plan that will lead to impressive growth, this is an episode you don’t want to miss!

In This Episode We Cover:

How Collin went from handwriting 191 letters to over 100 units in two years
How he uses networking to find deals
His direct mail strategy
How he uses the BRRRR method and traditional financing
His 50/50 partnership structure
Tips for using RUBS to increase profit
What criteria he looks for in properties
How to run meetups to find deals
Advice for using balloon notes to get into deals (and later refinancing)
How to outsource paperwork and bookkeeping to others
How he makes money managing his own properties
And SO much more!

Links from the Show

Books Mentioned in this Show

Who: The A Method for Hiring by Geoff Smart and Randy Street
Rich Dad Poor Dadby Robert Kiyosaki
The Millionaire Real Estate Investor by Gary Keller
Shoe Dog by Phil Knight

Tweetable Topics:

“In my mindset, more units, less risk.” (Tweet This!)
“Real estate is forgiving.” (Tweet This!)

Connect with Collin

317: Building a $300MM Real Estate Empire from Scratch with Multifamily Investor Chad Doty Feb 14, 2019

Ever dreamed of being a successful multifamily investor who owns millions of dollars in real estate while others manage your assets?

Well, today’s guest is doing just that! Brandon and David sit down with Chad Doty, a one-time businessman who ditched corporate life and moved on to real estate, now owning 3,000 units!

Chad shares TONS of meaty insight, including what he looks for when choosing a market, where he’s currently investing (and avoiding), and four rules of thumb for building a multifamily business. Chad gives great advice regarding overcoming high barriers to entry, getting brokers to take you seriously (even as a newbie), and adding value to properties in order to generate big profits.

Plus, you DO NOT want to miss Chad’s take on finding deals others are missing, the order in which you should build your team, and how he would invest his grandmother’s last 100K! If you’re looking for an episode with so much value you’ll feel guilty you didn’t have to pay for it, download this one now!

In This Episode We Cover:

How Chad got into multifamily
What evergreen is
Two real estate myths
What comes first: deal or money
The market he invests in and why
His success metrics
The four components of any successful business
Raising money to fund an apartment building
Increase rent vs. decrease expenses
What does his team look like managing thousands of properties
Rules of thumb for communicating with property management
His thoughts on the future of today’s market
And SO much more!

Links from the Show

Books Mentioned in this Show

The Speed of Trust by Stephen Covey
The Millionaire Real Estate Investor by Gary Keller
The Goal by Eliyahu M. Goldratt

Tweetable Topics:

“Money flows to competency not to good deals.” (Tweet This!)
“Capital formation is the ultimate entrepreneurial skill.” (Tweet This!)
“If emotions are going to be out there, use it to your benefit.” (Tweet This!)
“Embrace the suck required to get good. But once you do that, the world is your oyster.” (Tweet This!)
“Hospitals are 24-hour blue collar job factories.” (Tweet This!)

Connect with Chad

316: How to Become a Millionaire Through Real Estate by 26 with Graham Stephan Feb 07, 2019

Interested in becoming a millionaire through real estate investing? Of course you are!

Today’s guest did just that—by age 26!

Brandon and David sit down with top-producing real estate agent and investor Graham Stephan as he spills the strategy he used to build massive wealth at such a young age. You won’t want to miss his “fortune formula,” including how he adds value to the deals he buys, how he saved money to invest without missing out on life’s experiences, and how he found work he loved to do so he could work hard while still feeling like he was on vacation.

Graham’s passion for real estate carried him to big success through investing, and he shares great advice for using YouTube to grow your brand. He also discusses how skipping college helped make him a millionaire and how he worked with his grandma to fund his first deal!

Graham touches on why he feels the future of RE is in development, ways to “make, not just find,” deals in today’s market, what to watch out for with Airbnb, and how he bought a house before he even owned a credit card.

DON’T miss this powerful show from someone who made the most of his 20s to set himself up for future success. Download it today!

In This Episode We Cover:

Started as listing agent in L.A. at age 18
Closing over 3 million dollars as a first deal that made him quit college
The plan he put in place
What he could’ve done better
What it’s like buying rental properties at a young age
Hack on managing properties
House hacking in LA
The Subway sandwich story
How Graham became a millionaire in real estate by 26
Why going to college would have set him back a decade
The Millionaire Formula
His current investments and future plans
Tips on landlording
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Managing Rental Properties by Heather and Brandon Turner
Buy It, Rent It, Profit! by Bryan M. Chavis
The 4-Hour Workweek by Timothy Ferriss

Tweetable Topics:

“If people worth 10 million dollars are buying these properties, chances are this is something I should start paying attention to myself.” (Tweet This!)
“You don’t have to deprive yourself to be successful, you just have to be smart about the things you chase.” (Tweet This!)
“Going to college for me would have set me back probably almost a decade.” (Tweet This!)
“For me, my work is my vacation.” (Tweet This!)
“Every year there’s a new opportunity out there.” (Tweet This!)
“Landlording is a skill.” (Tweet This!)
“If you pick up the phone, you are ahead of 80% of agents out there.” (Tweet This!)

Connect with Graham

Graham’s Youtube Channel

315: How to Read Human Nature to Succeed in Life with Bestselling Author Robert Greene Jan 31, 2019

Interested in learning techniques that will virtually guarantee you success, regardless of your field of interest? Of course you are!

On that front, today’s show will not disappoint! Brandon and David interview bestselling author Robert Greene, whose latest book is titled The Laws of Human Nature.

Robert discusses brilliant concepts regarding earning the trust of others, determining who you can trust in an interaction, and developing the super power of reading other people’s non-verbal cues. He also shares valuable insight that will help you positively impact the emotions of others around you, put yourself in a peak state of performance, and activate the power of your own emotional connection to things you are passionate about.

And do not miss Robert’s advice on making sure others cannot manipulate or deceive you, or what he’s learned studying Leonardo da Vinci and others who have mastered their crafts! If you want to become the investor who gets deals first, gets the best prices on rehabs, and is less likely to be fooled in a transaction, download this episode right now!

In This Episode We Cover:

Robert’s mentor-mentee relationship with Ryan Holiday
What a mentor is looking for a mentee
What are the laws of human nature
Understanding human nature and why it’s the most important skill
Seeing through people beyond the surface
Validating the good in people
Flattery vs. recognizing somebody’s strength
The different biases and how we’re governed by emotions
– Conviction bias
– Appearance bias
– Group bias
Techniques to resist these biases
How to present yourself
Mastery and being emotionally connected to what you do
And SO much more!

Links from the Show

Books Mentioned in this Show

The 48 Laws of Power by Robert Greene
Mastery by Robert Greene
The Art of Seduction by Robert Greene
Laws of Human Nature by Robert Greene
I Hope They Serve Beer in Hell by Tucker Max
The 50th Law by 50 Cent and Robert Greene
Pitch Anything by Oren Klaff
The Art Of War by Sun Tzu
Principles by Ray Dalio
The Obstacle Is the Way by Ryan Holiday
The Book on Rental Properties by Brandon Turner
Long-Distance Real Estate Investing by David Greene

Tweetable Topics:

“The most important thing you are looking for is not a glittering resume, it’s not charm, but their character.” (Tweet This!)
“The most important skill you can develop in life is understanding people.” (Tweet This!)
“The energy that you present people, is how they’re going to see you.” (Tweet This!)

Connect with Robert

Robert’s Personal Website

314: A 3-Step Blueprint for Managing Contractors Like a Boss with Andresa Guidelli Jan 24, 2019

Would your real estate business benefit from better rehab/construction knowledge or tactics? Well, that’s the focus of today’s show, where Andresashares her story of moving from Brazil to America and crushing it in the real estate space!

Andresa excels in an area many of us find extremely challenging: managing rehabs. In this episode, she pulls back the curtain and shares tips for how you can do the same. Andresa gives great advice for finding excellent contractors (and vetting them), the three things she puts in every contract, and how she makes sure she’s never ripped off.

You won’t want to miss her advice on finding the perfect team, determining the scope of work for your project, and learning your market. Andresa also shares a killer tip about challenging low appraisals she’s used successfully three separate times! Andresa is able to skillfully manage several rehab projects at a time while also running a side Airbnb business and gives great guidance on how you can do the same. Download this one now!

In This Episode We Cover:

How Andresa got into real estate
How she finds great contractors
The three things she puts in her contract
How she pays her contractors
Her advice for finding the perfect team
How she embraces what she’s good at
Why you should be humble enough to partner with others
How she determines her scope of work
Tips for understanding your market
How she challenges appraisals
Her advice for Airbnb investing
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
The Book on Investing with Low or No Money Down by Brandon Turner
Extreme Ownership by Jocko Willink
Never Split the Difference by Chris Voss
Long-Distance Real Estate Investing by David Greene
Traction by Gino Wickman
The Code of the Extraordinary Mind by Vishen Lakhiani

Tweetable Topics:

“There’s somebody for every role.” (Tweet This!)
“Get the ‘no’ first because that is when the negotiation starts.” (Tweet This!)
“Partner up with somebody that is willing to share to you the entire process.” (Tweet This!)

Connect with Andresa

313: How to Be Happy AND Grow a Massive Business with Entrepreneur Jesse Itzler (and Josh!) Jan 17, 2019

You want to crush it in real estate investing. But you also want fun, adventure, and time for yourself and your loved ones. Can you have both? Our guest today says, “YES!”

Jesse Itzler is a serial entrepreneur who’s worn a lot of hats: rapper, founder of a private jet company (sold to Warren Buffett’s Berkshire Hathaway), partner in a coconut water venture (sold to Coca-Cola), ultra-marathoner, and part-owner of the Atlanta Hawks.

Jesse shares his plan for 4x-ing your productivity, what he learned from living with a Navy SEAL (and writing a book about it!), and why investors must learn to “fall in love with the process,” rather than the product. You’ll learn his trick for scheduling memorable experiences and why you should develop your own “happiness meter.”

Oh, and stick around to hear Jesse’s hilarious story about performing in front of 600,000 people—and forgetting the words. This show is packed with wise counsel for anyone who is or wants to be a hard-charging entrepreneur, but also craves more balance and bliss. Download this episode, and share it with a friend or family member who would enjoy it! When you do, tag us on Twitter (@jrdorkin, @brandtonatBP, @biggerpockets) or Instagram (@jrdorkin, @beardybrandon, @biggerpockets)!

In This Episode We Cover:

Jesse Itzler’s backstory
The moment of the most happiness -41 bucks story!
How to measure happiness with the “Happiness Meter”
The “3-Hour Rule”
What Kevin’s Rule is and why you should create “moments”
Advice for making the most of life
Why you should think through: What do I want to be known for in the next 5 years?
How to reach out to people who you aspire to meet
His advice on growing multiple business
A way to redefine failure
The Misogi
And SO much more!

Links from the Show

Books Mentioned in this Show

Living with a SEAL by Jesse Itzler
Living with the Monks by Jesse Itzler
Fit For Life: A New Beginning by Harvey Diamond
Rich Dad Poor Dad by Robert Kiyosaki
The E-Myth Revisited by Michael Gerber
The ONE Thing by Gary Keller
The 4 Disciplines of Execution by Chris McChesney, Sean Covey, & Jim Huling
The Wealthy Barber by David Chilton

Tweetable Topics:

“If you have health, you have hope. If you have hope, you have everything.” (Tweet This!)
“In most areas of our life, there’s a way to measure almost everything.” (Tweet This!)
“As we get older, it’s very hard to create newness.” (Tweet This!)
“If it’s not important to you, it’s not going to happen.” (Tweet This!)
“People buy into stories more than products.” (Tweet This!)
“As a parent, praise your kids’ effort, not the result.” (Tweet This!)
“Money is fun to make, fun to spend, and fun to give away.” (Tweet This!)

Connect with Jesse

312: Conquering Nightmare Rehabs While Working Full-Time with BRRRR Investor James Masotti Jan 10, 2019

Excited about real estate investing and looking for a blueprint to follow? Well, you’re in luck!

Today’s guest James Masotti is a well-rounded investor who’s piling up properties while working a full-time job.

James shares how he consistently finds deals in a competitive market (it’s not through the MLS), how he funds these deals (it’s not with his money), and how he handles the common complications every investor faces.

He also gives some great advice for acquiring properties already occupied by tenants, and explains how he keeps his partner and lenders happy even when things don’t go according to plan. He offers tips on planning for CapEx and dealing with the dark side of real estate investing, too.

Plus, you won’t want to miss his advice when it comes to building funnels to find deals, as well as just what to look for when interviewing real estate agents.

James has a straightforward, no-nonsense approaching to succeeding in today’s market and provides tons of good content for how you can do the same! Download this episode today!

In This Episode We Cover:

Jame’s entrance into real estate investing while having a professional career
Cash reserves and how he plans for CapEx
How he finds and funds deals
Dealing with tenant evictions
Finding the lender you need
What a debt cover ratio is
Why he continuously builds funnels
How to handle when things go wrong
Analyzing and overcoming the dark side of real estate investing!
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Managing Rental Properties by Heather and Brandon Turner
I Will Teach You To Be Rich by Ramit Sethi
The Book on Estimating Rehab Costs by J. Scott
The Richest Man in Babylon by George S. Clason
Rich Dad Poor Dad by Robert Kiyosaki
E-Myth by Michael E. Gerber
Lifeonaire by Steve Cook

Fire Round Questions

Tweetable Topics:

“Real estate is very forgiving.” (Tweet This!)
“When you’re looking to scale, you want to have reserves available.” (Tweet This!)
“Don’t chase something that you’re not comfortable with because that’s when you get in trouble.” (Tweet This!)

Connect with James

311: 6 Rules for Investing in Real Estate in the Coming Economic Shift with J Scott Jan 03, 2019

Are you a real estate investor concerned with the potential of a shifting economy? These concerns are understandable, and today’s guest has some great techniques for both protecting your money and taking advantage of deals in any market! J Scott,...

310: A Straightforward, Repeatable Path to Early Retirement with Jennifer Bayless Dec 27, 2018

Looking to find financial independence through real estate but don’t want to be responsible for a portfolio of 100 homes? Well, that’s exactly what today’s guest is doing!

Jenny Bayless is a real estate investor in Colorado who is using long-distance investing principles to systematically build a portfolio of cash flowing properties using the BRRRR method! Jenny is absolutely crushing it by “making” deals in today’s tough market and shares what she looks for that other investors miss.

Learn her system for targeting fixer-upper properties, how she estimates rehab costs, and the method her real estate agent uses to send her videos of potential properties so she doesn’t have to drive hours to see them. Jenny also shares how she uses hard money to buy “cash,” how she found a rockstar agent, and how she backed into an “accidental BRRRR” that led to future success!

Today’s episode is equal parts inspirational and practical with TONS of actionable advice. If you want to retire early with real estate but don’t want the headache of managing 100 homes, don’t miss this show!

In This Episode We Cover:

Long-distance principles Jenny uses to invest near her market
How Jenny uses the BRRRR strategy to systematically grow her portfolio
Ways to chase financial freedom without a monstrous portfolio
How she has an agent do her due diligence for her
The strategy she uses to “make” deals in a today’s tough market
Her opinion on how to use turnkey properties to get started investing
Ways to start with fixer-upper properties to get great deals in a hot market
How she uses hard money to buy “cash” deals
How she estimates rehab costs before writing offers,
Her “accidental” BRRRR story
How she’s pursuing financial independence with only 10 homes!
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Estimating Rehab Costs by J. Scott
The Book on Flipping Houses by J. Scott
Long-Distance Real Estate Investing by David Greene
Building Wealth One House at a Time by John Schaub
The Book on Managing Rental Properties by Heather Turner and Brandon Turner
Rich Dad’s Cashflow Quadrant by Robert Kiyosaki

Tweetable Topics:

“The worst that they can say is no.” (Tweet This!)
“We all know what it’s like to have a job. We don’t all know what it’s like to run a business.” (Tweet This!)

Connect with Jennifer

Jennifer’s BiggerPockets Profile

309: Closing 75 Deals Your First Year by Simply Modeling Others with Steven Pesavento Dec 20, 2018

Have you ever considered flipping houses for cash but aren’t sure where to start? If so, today’s episode is perfect for you! Brandon and David interview Steven Pesavento, a long distance flipper who’s doing 75 deals a year. Steven shares several of his tips for success, including just what he does to keep his pipeline full of deals, how he follows up with qualified leads, and the strategy he used to get good at closing deals working for someone else!

You’ll love Steven’s system for choosing the best market to flip in, how he systematically ramped up his business, and how he built a team from the ground up (including each team member’s job title and description)! This episode is chock full of specific, actionable advice that will apply to newbies and experienced pros alike. Download and listen today!

How he finds his deals, where he is consistent and wins the long game, how he flips 75 houses a year, when to grit and when to quit, how to know when it’s time to ramp up your business, how to build and scale your business, the order in which you should hire, what makes up an all-star team, why repetitions are so important, and what to look for in a partner to help grow your business.

In This Episode We Cover:

Steven’s background and how he got into real estate
Learning through modeling successful investors
The very first deal (which was not that great)
How he set his goals
Knowing the right time to get serious
Direct mail and other marketing methods that worked for him
Partnering with great people
From zero to 75 deals within two years
Raising money from private investors
Renting his personal home on Airbnb to pay the bills
Living frugally to get the business running
Not taking a paycheck until year two so he could invest in people and growth
And SO much more!

Links from the Show

Books Mentioned in this Show

90 Days of Intention by Brandon Turner (Journal)
Four Hour Workweek by Tim Ferriss
The ONE Thing by Gary Keller
Rich Dad Poor Dad by Robert Kiyosaki
Never Split the Difference by Chris Voss
Awaken the Giant Within by Tony Robbins

Fire Round Questions

Tweetable Topics:

“It’s not about how I may get rich, but it’s about how am I going to learn everything that I possibly can.” (Tweet This!)
“We’re not doing anything special, we’re just doing it.” (Tweet This!)
“It’s a very simple business, but it’s not that easy.” (Tweet This!)

Connect with Steven

308: From 0 to 400 Units in 3.5 Years with Sterling White Dec 13, 2018

Would your life be positively impacted by owning over 400 rental units? What if you could get there in under four years? On today’s show, we interview BiggerPockets contributor Sterling White, who has managed to do just that!

Sterling shares how he started his entrepreneurial journey selling Pokemon cards and eventually worked his way up to owning over 150 single family properties (and several multifamilies as well). He also shares how he finds 90-100% of his properties OFF MARKET using a five-step system for finding and closing on them (so simple anyone can do it), as well as the script he uses when speaking directly to sellers. You don’t want to miss his powerful secret for building rapport with potential leads (by sending a specific puzzle to them in the mail) and how he raises money to close on these properties.

If you want to scale your business and want the blueprint for how to do it, don’t miss this powerful episode!

In This Episode We Cover:

How Sterling got into real estate, working for free just to learn
Negotiating equity: What is it?
Why you possibly shouldn’t go the wholesaling route
The benefit of focusing on your strengths
How to work with your family and friends and branching out from there
How he finds deals—cold call mixed with direct mail
Why he sends Rubik’s cubes to prospects
Tips for creating a network of investors by building a funnel
What his team looks like
And SO much more!

Links from the Show

Books Mentioned in this Show

90 Days of Intention by Brandon Turner (Journal)
Jab, Jab, Jab, Right Hook by Gary Vaynerchuk
Multi-Family Millions by David Lindahl
Lead the Field by Earl Nightingale

Fire Round Questions

Tweetable Topics:

“You just have to train yourself to get past objections.” (Tweet This!)
“Share your story to other people who are where you were.” (Tweet This!)
“If you can’t negotiate the price, negotiate the terms.” (Tweet This!)
“Everything is selling. Even when you’re buying, you still have to sell.” (Tweet This!)
“We all have a short amount of time on this planet, so might as well go after your dreams and goals ultimately.” (Tweet This!)

Connect with Sterling

307: The Science Behind Setting and Achieving Big Goals Dec 06, 2018

Raise your hand if this describes you: You start working toward a new goal with excitement, only to watch it eventually fizzle out to nothing. If you’re human, it’s likely you’ve experienced this phenomenon. Why is it some goals are just so hard to accomplish, whereas others we’re able to conquer with ease?

On today’s episode of The BiggerPockets Podcast, that’s exactly what you’ll discover. Diving deep into psychological research on goals, motivation, and time management, Brandon and David will pull back the curtain on how people set and accomplish big goals and give you a GPS toward changing your life forever. If there is one episode you listen to all year, let it be this one!

In This Episode We Cover:

The real estate G.P.S. system
GOAL
Specific
Difficult
Feedback
Commitment
Training your reticular activating system
Make sub goals
Reward yourself for small wins
PLAN
Why humans need processes and steps
Lead measures vs. leg measures
Learn the L.A.P.S. system on finding deals
Keystone habits
SCHEDULE
Schedule meet-ups
Set the behavior, time, and location
ACCOUNTABILITY
Why you may want to join a group that meets weekly with clear structure
And SO much more!

Links from the Show

Books Mentioned in this Show

90 Days of Intention by Brandon Turner (Journal)
Handbook of Positive Psychology by CR Snyder & Shane J. Lopez
59 Seconds: Change Your Life in Under a Minute by Richard Wiseman
The Miracle Morning by Hal Elrod
Power of Habit by Charles Duhigg
The Subtle Art of Not Giving a F*ck by Mark Mason
Pitch Anything by Oren Klaff

Tweetable Topics:

“When people wrote down their goals, they were 33% more successful in achieving them.” (Tweet This!)
“Subconscious is a powerful ally, but a terrible master.” (Tweet This!)
“Every goal you desire is preceded by a process required to get the results.” (Tweet This!)

Connect with Brandon and David

306: How to Go From a Few Units to Over 1,000 with Monick Halm Nov 29, 2018

Are you looking to take your investing from casual to serious someday? Have you ever thought about what it would take to own thousands of units without having real estate run your life?

Well, you’re in luck! On today’s show, we interview Monick Halm. Monick’s story will blow you away as she shares how she went from house hacking a duplex in L.A. to owning over one thousand units! Monick’s super simple system for finding others to partner with and invest in her deals has allowed her to scale without creating an overwhelming amount of work for herself.

You’ll be amazed at Monick’s super simple formula for using the “three Cs” to find partners, her tips for raising private money naturally, and the effortless way she scales her investing. Do NOT miss her seven step criteria for choosing a new market and how to evaluate an area to find where it is in the market cycle (including which point you want to jump in at). Monick’s story is creative, encouraging, and inspiring to investors of all levels. Don’t miss out on this show filled with practical advice today!

In This Episode We Cover:

How Monick bought at worst time to get into real estate
How she partnered on her first house with a friend and each lived in one side (unique and creative house hacking technique)
How she met Robert Helms of the Real Estate Radio podcast and it changed her thinking
Her “Three C” system for evaluating potential partners to work with: Character, Commitment, Capacity
Her 7 criteria for choosing a market to invest in: Population growth, Job growth , Diversified economy, Landlord friendly, Business friendly, In the right part of the market cycle (rising market), Familiarity
How she ramped up her business by getting into syndication
Why finding “business friendly” markets will help ensure you have a healthy tenant pool
The four stages to a market cycle (and which one you want to look for when deciding when to jump in)
How she developed land to create an awesome RV park to satisfy a market with massive rental demand
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert T. Kiyosaki
Set for Life by Scott Trench
Turning Pro by Steven Pressfield
The War of Art by Steven Pressfield

Fire Round Questions

Tweetable Topics:

“Relationship is very crucial in real estate investing.” (Tweet This!)
“Great talent does not cost you money; it makes you money.” (Tweet This!)
“Definitely, we’d have not gone where we are now if we were doing this alone.” (Tweet This!)
“Your network is your net worth.” (Tweet This!)

Connect with Monick

305: Financial Independence in Your 30s Through Just 5 Investment Properties with Brad Dantonio Nov 22, 2018

Are you interested in retiring early with real estate but don’t want to manage hundreds of properties to do so? Today’s guest has managed to travel to 54 countries in the last three years after retiring in his 30s by owning just FIVE properties.

Brad Dantonio shares exactly how he reached financial independence at such a young age by focusing on three unique skill sets (and how you can, too). In this episode, you’ll learn how Brad has created “time wealth,” how he tracks every expense he has, and how he achieved the equivalent of a four-year degree while sitting in Houston traffic!

Brad also gives us the three tips he shares with young people (including how to take your journaling to a whole new level), how he forever changed his relationship to fear, and how learning the art of delaying gratification at a young age gave him an advantage over his competition for life! Brad has a fantastic story of overcoming adversity as a young child and using his setbacks as fuel to create the system he used to retire early and live the life of his dreams. If you want to use real estate to live your best life, this is an episode you don’t want to miss!

In This Episode We Cover:

How Brad got into real estate
How he increased his income every year for 13 years because he was fanatical about self-development
How journaling impacted his life
The story of him selling his software to make money and using it to to buy houses
How he ended up self studying about negotiation and sales
His offensive and defensive techniques on living less and earning more
The value of tracking expenses
Why he thinks he’s wealthier than billionaires through the concept of time wealth
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert T. Kiyosaki
Lifeonaire by Steve Cook & Shaun McCloskey
Poor Charlie’s Almanack by Charles T. Munger
How to Invest in Real Estate by Joshua Dorkin, Brandon Turner
How to Win Friends & Influence People by Dale Carnegie
90 Days of Intention Journal by Brandon Turner
The Richest Man in Babylon by George S. Clason
Titan: The Life of John D. Rockefeller, Sr. by Ron Chernow
Robert Greene’s Mastery
The 48 Laws of Power by Robert Greene
Shoe Dog by Phil Knight

Fire Round Questions

Tweetable Topics:

“Inspect what you expect.” (Tweet This!)
“You can’t spend enough money on books.” (Tweet This!)

Connect with Brad

304: Using Incredible Strength of Mindset to Succeed Despite Overwhelming Obstacles With Nick Santonastasso Nov 15, 2018

If you’re looking to have your mind completely blown and walk away feeling like you can and WILL do anything, this show is for you! Today’s guest is inspirational figure, fitness model, and Vine sensation Nick Santonastasso.Nick shares his personal story and holds nothing back, describing how he’s overcome the difficulties of being born with Hanhart syndrome and the incredible mindset he’s developed along the way that led to him meeting Dwayne “The Rock” Johnson, becoming an online viral sensation (and scaring a character from The Walking Dead as a zombie), climbing a mountain despite the absence of three limbs, and more!

Nick shares tons of actionable steps for overpowering fear, overcoming and adapting to any environment, harnessing the power of gratitude, and more than we can list here! If you’ve ever been stuck in a personal rut and want to find a way to establish a mindset that ALL real estate investors should be adopting, listen to this episode and share it with someone you love!

In This Episode We Cover:

Nick’s story and a life with Hanhart syndrome
Changing your internal language
The story behind the skateboard handstand
The importance of having an authentic self
The “must be nice” syndrome
Thoughts on having a “massive footprint”
Breaking down goals
Modeling yourself on someone
Gratitude and why it’s important
Choosing empowering over disempowering thoughts
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert T. Kiyosaki
Victim to Victor by Nick Santonastasso

Tweetable Topics:

“The emotion of gratitude outweighs all emotions.” (Tweet This!)
“Humans in general have the tendency to start with ‘cannot.'” (Tweet This!)
“Everything in life is trial and error.” (Tweet This!)
“The biggest disability you can have is a bad mindset.” (Tweet This!)

Connect with Nick

303: Ouch! Brandon & David's 10 Biggest Investing Mistakes (& How to Avoid Them) Nov 08, 2018

Are you a little tired of hearing about all the “successes” of real estate investors and wondering how realistic this is in the real world? Well, on today’s show, Brandon and David share the 10 biggest mistakes they’ve made in their investing careers—warts and all!

Let’s be honest—real estate isn’t all sunshine and rainbows. Mistakes happen! In this episode, we cover WHY investors often sabotage their own success and what can be done to overcome this! You’ll learn how to avoid massaging your numbers to force a bad deal through, how to guard against getting ripped off by contractors, how to hire the RIGHT team members to help you succeed, and how to fire the wrong ones!

We also cover the high cost of analysis paralysis and how to move past it, how to choose the right market for yourself, and the mistake that cost David $5,000—simply because he didn’t understand how inspection periods work in different states. If you want to see the real story behind real estate investing, including the stuff that often isn’t talked about, don’t miss your chance for some authentic, honest transparency from two experienced investors!

In This Episode We Cover:

A discussion on waiting to start investing because you don’t feel you can do it yet
The pros and cons of doing everything yourself
The danger of working with the wrong people
Stories of buying the wrong deal
How to avoid not managing people correctly
What can happen when you underestimate rehab costs
Why you shouldn’t put too much down on a property
The pitfalls of not doing enough market research
Avoiding investing because your state is too expensive
Not rehabbing correctly
And SO much more!

Links from the Show

Books Mentioned in this Show

Ego is the Enemy by Ryan Holiday
The Millionaire Real Estate Agent by Gary Keller
The Book on Estimating Rehab Costs by J. Scott
So Good They Can’t Ignore You by Cal Newport
High Performance Habits by Brendon Burchard

Fire Round Questions

Tweetable Topics:

“Thinking small is more expensive than failing big.” (Tweet This!)
“Find an investor-friendly agent.” (Tweet This!)
“Calculators don’t have egos.” (Tweet This!)
“The wise investor understands equity equals safety.” (Tweet This!)
“Define what you want and work for it until you get it.” (Tweet This!)

Connect with Brandon and David

302: Making $100k/Deal Using Other People's Money, Time & Experience with Cory Nemoto Nov 01, 2018

Ever had an interest in house flipping but felt you needed help getting started? Today’s show covers that exact topic!

Cory Nemoto is an extremely humble but successful house flipper in Hawaii who is CRUSHING the game. On today’s show, Cory shares his personal strategies for keeping his pipeline full of great deals, what techniques he uses to make a minimum of $100k on each deal, how he partners with new investors to make everyone money, and his brilliant tips for building relationships with those most likely to build his business. You do not want to miss Cory’s unique strategy for using “debt-quity” to get deals brought to him before anyone else!

Cory has been so successful flipping houses in Hawaii that he’s moved his system to Seattle, where he’s crushing it there too—all using very simple methods built on relationships and creating win-win scenarios. If you’re looking for a can’t-miss way to build a profitable house flipping business, listen to this one!

In This Episode We Cover:

The two reasons you should NOT get into real estate investing
Figuring out your big “why”
Cory’s unique strategy for getting started
What exactly “debt-quity” is
How he makes a MINIMUM of $100k on each flip
The networking strategy Cory uses to keep his pipeline full
Where he finds hungry, ambitious, and like-minded people to partner with and his brilliant strategy to connect with them
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
The Book on Flipping Houses by J. Scott
The Go-Giver by Bob Burg & John David Mann

Fire Round Questions

Tweetable Topics:

“Even if the profit is small, it doesn’t mean it’s not a good deal.” (Tweet This!)
“Every deal is different.” (Tweet This!)
“If you’re in it for the money and the image, then you’re not going to make it.” (Tweet This!)

Connect with Cory

301: The Incredible Power of Long-Distance BRRRR Investing with Alex Felice Oct 25, 2018

Looking to get started investing but don’t have millions of dollars and notice there’s not a lot of opportunity in your market? Well, this is the episode for you! Today’s guest is a long-distance investor who uses the BRRRR strategy to buy fixer-upper properties in other states, then refinances to use the money to buy more deals!

Alex Felice shares his valuable insights on his criteria for analyzing deals, how he builds his out of state team, and why he’ll never look at a property in person! You won’t want to miss Alex’s strategies for overcoming the fear of investing long distance, as well as his plan for living broke on purpose and how he combines long-distance investing with the BRRRR method to build a portfolio that scales! Alex is a high-energy individual who is passionate about taking action and building the future he wants. Don’t miss your chance to learn from what he’s accomplished, and start making progress building your own portfolio now!

In This Episode We Cover:

Alexander’s back story and how he got into real estate
Why live-in flip?
His strategy of being broke on purpose
How he learned about the BRRRR strategy
Why he thinks being close to your property is a crutch
The importance of “skills that scale”: networking and education
How to complete a BRRRR in 8 weeks
What delayed financing is
How to know what a good deal looks like
What “unicorn paralysis” is and how to avoid it
His strategy in his own market
How to think like an underwriter
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
Principles: Life and Work by Ray Dalio
Sapiens: A Brief History of Humankind by Yuval Noah Harari
Thinking, Fast and Slow by Daniel Khaneman
Science in the Soul by Richard Dawkins
The Demon Haunted World by Carl Sagan
Factfulness by Hans Rosling

Fire Round Questions

Tweetable Topics:

“Live life broke and save a bunch of money.” (Tweet This!)
“Being close to your property is a hindrance.” (Tweet This!)
“The only point of the first deal is to get the second deal.” (Tweet This!)
“As fast as you can, as slow as you need to, but don’t set your goals too small.” (Tweet This!)
“You want to convince people that are better than you to deal with you.” (Tweet This!)

Connect with Alexander

300: How to Invest in Real Estate—The Ultimate Show for Getting Started with Josh Dorkin, Brandon Turner, and 11 Rockstar Investors Oct 18, 2018

What is the best way to get started investing in real estate? The problem with this question is that there are SO many different pieces of advice. That’s why we’re excited to bring you one of the most unique episodes of the BiggerPockets Podcast we’ve ever had. In this episode, Josh Dorkin is back—and he and Brandon deliver a series of interviews with some of the past guests from the BiggerPockets Podcast, including David Greene, Kenyon Meadows, Andrew Cushman, Arianne Lemire, Darren Sager, Ryan Murdock, Tim Shiner, Anson Young, Zeona McIntyre, and Ben Leybovich.

In This Episode We Cover:

Why live and rent with Tim Shiner
Darren Sager on what real estate investing strategy to focus on
How to know if you’re ready with Ben Leybovich
How Zeona McIntyre converts any kind of property into rentals
Anson Young’s thoughts on when to tackle projects with grit and when to quit
Why Kenyon Meadows thinks you should find an in-person mentor
David Greene’s “one thing”
How Arianne Lemire analyzes a deal each day
Why Andrew Cushman focuses on process rather than outcome
Ryan Murdock’s concept of cash reserves
How to live-in flip with Mindy Jensen
And SO much more!

Links from the Show

Books Mentioned in this Show

How to Invest in Real Estate by Josh Dorkin and Brandon Turner
Investing in Real Estate with No or Low Money Down by Brandon Turner
Set for Life by Scott Trench
Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets
Rich Dad Poor Dad by Robert T. Kiyosaki
Long-Distance Real Estate Investing by David Greene
Emerging Real Estate Markets by David Lindahl
My Wife Hates Loves Rent Houses by Tim and Crystal Shiner
Entrepreneurial Reflections by Jay Rodgers
Hamburger America by George Motz
Never Split the Difference by Chris Voss
Exactly What to Say by Phil M. Jones
How I Turned $1,000 into Five Million in Real Estate in My Spare Time by William Nickerson
Way of the Peaceful Warrior by Dan Millman
Finding and Funding Great Deals by Anson Young
Grit: The Power of Passion and Perseverance by Angela Duckworth
High Performance Habits by Brendon Burchard
Alternative Financial Medicine by Kenyon Meadows M.D.
Building Wealth One House at a Time by John Schaub
The ONE Thing by Gary Keller
Thinking in Bets by Annie Duke
Living with a SEAL by Jesse Itzler
Extreme Ownership by Jocko Willink
So Good They Can’t Ignore You by Cal Newport
Miracle Morning by Hal Elrod
The 4-hour Workweek by Timothy Ferriss
Richest Man in Babylon by George S. Clason
How to Sell Your Home by Mindy Jensen

Tweetable Topics:

“I really don’t care that much if I’m negative or positive. My bigger thing is appreciation.” —Tim Shiner (Tweet This!)
“You can’t do something until you are ready to do it.” —Ben Leybovich (Tweet This!)
“Everything that we do has a process.” —Brandon Turner (Tweet This!)
“You can go for an online course or YouTube videos, but you cannot replace that in-person mentor.” —Kenyon Meadows (Tweet This!)
“Stop thinking that what you need is someone to hold your hand and walk you through this.” —David Greene (Tweet This!)
“Daily, consistent action will lead to great results.” —Arianne Lemire (Tweet This!)
“Focus on the process and not the outcome.” —Andrew Cushman (Tweet This!)
“Failure is not a failure if you learn from it.” —Andrew Cushman (Tweet This!)

Connect with the Guests (through BiggerPockets)

No Money Investing – Four Techniques with Brandon Turner and David Greene Oct 11, 2018

Would you like to invest in real estate but lack the capital? In this powerful episode of The BiggerPockets Podcast, Brandon and David dive deep into the topic to cover four unique strategies for building a real estate empire using other people’s...

299: HGTV Star Ken Corsini on Flipping, Rehabbing, & Building Homes Like a Pro! Oct 04, 2018

Ever wonder about the REAL story behind the house flipping tv shows? On today’s show, we interview Ken Corsini, star of HGTV’s Flip or Flop Atlanta! Ken pulls back the curtain and shares fantastic insight and knowledge into several areas of real estate investing, from house flipping to new construction to owning a real estate brokerage!

In this episode, we cover Ken’s methods for finding deals in hot markets, how to recognize general contractor “price creep” (and what to do about it), and how to craft multiple exit strategies that will serve you in any market. Ken also shares some fantastic insight regarding his technique for staying flexible to protect himself from market downturns that you do NOT want to miss (if you value keeping money over losing it)!

In This Episode We Cover:

Why Ken kicks himself for selling houses he flipped
How he adapted to a changing market when hedge funds took over
How he started a construction business to keep up with the growing demand for big rehabs
How he recognizes what the best strategy is for each market
What “price creep” is—and what to do when you find it
Why adaptability is your best ability
And SO much more!

Links from the Show

Books Mentioned in this Show

Good to Great by Jim Collins

Fire Round Questions

Tweetable Topics:

“I don’t think you can stay relevant if you don’t watch the signs and learn to adapt your business.” (Tweet This!)

Connect with Ken

Ken’s Company Website
Fix or Flop Atlanta (HGTV)

298: Thriving in Multifamily Investing (Even in a Hot Market) with Michael Becker Sep 27, 2018

Interested in building giant wealth through multifamily real estate investing? Well, on today’s show, we interview someone who already has. Michael Becker is an experienced multifamily investor who’s mastered the genre and simplified the process for being successful! Michael shares what every new investor needs to know about avoiding the biggest mistakes in multifamily, how to invest no matter the market or how hot it is, four problems to watch out for that led to the last recession, and a lot more! You DO NOT want to miss the deep dive where Michael shares how he and his partners made $10M in profit using a combination of BRRRR, syndication techniques, private money, and prudent decision-making. If you’ve ever thought about moving into multifamily investing at some point, don’t miss this show!

In This Episode We Cover:

How Michael got into real estate
The value of partnerships and networking
Tips for buying 16 multifamily units
What a cap rate is
His thoughts on a crash and timing the market
How he raises money for a deal
Relationship-building and how it helps in any business
Advice for using webinars to pitch
Tips for raising capital
Why you want to keep presentations simple
Unique advantages of Fannie Mae and Freddie Mac loans
Single family rentals vs. multifamily
And SO much more!

Links from the Show

Books Mentioned in this Show

The Millionaire Real Estate Agent by Gary Keller
The ABCs of Real Estate Investing by Ken McElroy
The Advanced Guide to Real Estate Investing by Ken McElroy
Am I Being Too Subtle by Sam Zell

Fire Round Questions

Tweetable Topics:

“It’s much better to be the borrower than the lender when it comes to investing.” (Tweet This!)
“All you really have to do is to close a deal or two.” (Tweet This!)
“The world is full of capital.” (Tweet This!)
“You don’t need to have everything. You just need to have access to it.” (Tweet This!)

Connect with Michael

297: Mastering the Decision-Making Process with Business (and World Series of Poker) Champion Annie Duke Sep 20, 2018

In today’s epic show, we interview World Series of Poker bracelet champion Annie Duke. Annie is a nationally sought-after speaker who combines her mastery of poker with a study of the cognitive sciences in a truly unique and brilliant way.

In this show, you’ll have your mind blown by Annie’s insights regarding following conventional wisdom (even if it doesn’t make sense), focusing too much on the results (and not enough on the right choice), and accepting a level of uncertainty to gain a HUGE advantage over your competition. Annie’s theories on “thinking in bets” are designed to help others navigate a world where we can’t be certain of an outcome, but still come out on top over time.

This is an absolute can’t-miss episode for those looking for strategies to overcome apprehension, fear, or uncertainty. Be sure to listen to this incredibly brilliant and powerful interview—and get the tools to take your next steps today!

In This Episode We Cover:

Annie’s backstory and how she got into professional poker
Her concept of risk management
Thoughts on luck and circumstances we have no control over
Elements of luck versus elements of skill
Pete Carroll’s endgame decision
The concept of “resulting”
What constitutes a consensus choice
Winning and losing—and caring about your decision-making process
The difference between real estate investing and poker
The importance of confidence and certainty
Why one shouldn’t be afraid of losing and being blamed
A champion versus a victim
And SO much more!

Links from the Show

Books Mentioned in this Show

Thinking in Bets by Annie Duke
The Miracle Morning by Hal Elrod
The Geometry of Wealth by Brian Portnoy
Decide to Play Great Poker by Annie Duke
Superforecasting by Dan Gardner and Philip E. Tetlock
Extreme Ownership by Jocko Willink
Radical Candor by Kim Scott
Thinking, Fast and Slow by Daniel Kahneman
The Signal and the Noise by Nate Silver
Set for Life by Scott Trench

Tweetable Topics:

“Every decision, even small executional decisions all the way to the larger goals, carries risks.” (Tweet This!)
“There are no small decisions.” (Tweet This!)
“The most important person we need to worry about pointing fingers at is ourselves.” (Tweet This!)

Connect with Annie

296: From Farm Boy Beginnings to $15M in Real Estate Holdings with Rock Thomas Sep 13, 2018

What does it take to truly find financial independence? Money? Deals? Mentors? Or could it be something else entirely… something intangible? In this episode of the BiggerPockets Podcast, we sit down with Rock Thomas, a real estate investor and agent who shows others the simple mindset shifts needed to achieve financial freedom. In other words, it’s time to work on YOUR “money blueprint.” Through Rock’s story, you’ll learn the most important skills any individual needs to achieve in any field, the best way to find and attract mentors who can teach you the path, how to change your “operating system” to one that is far more successful, and so much more. With powerful stories, humor, and insight, Rock’s story is one you won’t want to miss!

In This Episode We Cover:

Rock’s backstory as a worker on a farm
What mentors look for into someone
How he used pain to propel himself forward
Saying yes to opportunities, no matter how difficult
The importance of having what it takes
Why you should seek out people with energy
Being the guy who solves any problem
The 4 money personality types
The type of properties he invests in
And SO much more!

Links from the Show

Books Mentioned in this Show

Nothing Down for the 2000s by Robert G. Allen
Rich Dad, Poor Dad by Robert Kiyosaki
The ONE Thing by Gary Keller and Jay Papasan
Rich Dad’s Cashflow Quadrant by Robert Kiyosaki
Why the Rich Are Getting Richer by Robert Kiyosaki
E- Myth Revisited by Michael Gerber
Rocket Fuel by Gino Wickman & Mark Winters

Fire Round Questions

Tweetable Topics:

“Mentors, you want to admire them and you want to be them.” (Tweet This!)
“When you step in the room and you feel you’re not the smartest guy, you’re in the right room.” (Tweet This!)
“Get comfortable with being uncomfortable.” (Tweet This!)
“You can get anything you want in life as long as you are committed and creative.” (Tweet This!)
“Find what pisses people off and solve it for them.” (Tweet This!)

Connect with Rock

295: Using the Web to Land 8-12 Deals a Month with Melissa Johnson Sep 06, 2018

Are you interested in learning how to flip 8-12 houses a month at $30k a pop? Well, this episode may be just what you’ve been looking for! On today’s show, we interview Melissa Johnson—house flipper extraordinaire and owner of the company Lead Propeller, a service that provides websites to help motivated sellers find real estate investors. Melissa provides some incredible information regarding how they find motivated sellers, how they negotiate deals, how they sync up with the best contractors! You won’t want to miss the three things your website NEEDS to generate seller leads, as well as the exact process to estimate rehab costs! Melissa and her husband Danny run the podcast Flip Junkie, and in this episode, they pull back the curtain to reveal the secrets to their business. Don’t miss out on your chance to learn from a seasoned pro!

In This Episode We Cover:

Melissa’s story of getting into real estate
How everything went wrong on her first deal
Why she doesn’t recommend a “burnout”
Their amazing average flip volume and profit (hint: 8-12 deals a month!)
Her top three lead sources
How she uses SEO to her advantage
Advice on putting up a website
A discussion on flipping vs. wholesaling
How to find the right contractor
Tips for figuring out rehab costs
Things to do when you go over budget
And SO much more!

Links from the Show

Books Mentioned in this Show

The Miracle Morning by Hal Elrod
Flipping Houses Exposed by Danny Johnson
The Five Temptations of a CEO by Patrick Lencioni
The Advantage by Patrick Lencioni
Grit by Angela Duckworth

Fire Round Questions

Tweetable Topics:

“We are selling them solutions to their problems.” (Tweet This!)
“Sellers feel more comfortable with people who seem real.” (Tweet This!)
“We need to be the ones in control of the situation, not the contractor.” (Tweet This!)

Connect with Melissa

294: Meet Property Management Extraordinaire, RE Investor & Hotel Owner Jesse McCue Aug 30, 2018

Are you happy with the current state of your real estate business? If you’re like most people, the answer is no. On today’s show, we interview property management superstar Jesse McCue and dig deep into how he’s became Maine’s top property manager as well as a successful RE investor along the way. Jesse shares how he formed a partnership with a successful business to become an owner of the company, as well as how he bought a 67-unit hotel off of a tip from his electrician for half of its appraised value! You’ll be amazed as he describes a strategy that is “better than BRRRR”—and most importantly, the number one question you need to ask a property manager to find out if they are the right choice for you. If you want to learn how to put fundamental business skills to work in your investment business, this is a show you do not want to miss!

In This Episode We Cover:

How Jesse was bitten by the real estate investing bug
How he turned around a property in 6 months that required 8 years of budgeted rehab money
The tactics he uses to hire people to help him scale his business
How he made himself invaluable to a rising star and formed the perfect partnership
The questions you need to ask a property manager to determine if they are a rockstar or a dud
Tips on buying a motel
The “better than BRRRR” strategy
And SO much more!

Links from the Show

Books Mentioned in this Show

4-Hour Work Week by Timothy Ferriss
The Book on Managing Rental Properties by Brandon Turner & Heather Turner
The Snowball: Warren Buffett and the Business of Life by Alice Schroeder

Fire Round Questions

Tweetable Topics:

“When you know the people, you know what’s going on.” (Tweet This!)
“If you are unhappy, your systems are broken.” (Tweet This!)
“Do the things that make you feel light and not the things that make you feel heavy.” (Tweet This!)

Connect with Jesse

293: How to Retire Early With Real Estate & Do What Matters More with Chad Carson Aug 23, 2018

Have you ever thought about retiring early, traveling, and living your best life now? On today’s show, we interview Chad Carson, author of the new BiggerPockets Publishing book Retire Early With Real Estate.

Today Chad shares how he and his partner were able to accumulate 90 units and live purely off the money generated by their portfolio! In this episode, learn how Chad got started and the steps he took to elevate his business and which strategies he used to make $120,000 on one flip!

Chad’s story covers the gamut of flipping, wholesaling, buy-and-hold, and more. If you want to know what it looks like to retire early with real estate (including what you may be doing wrong right now, and how to change that), this is an episode you definitely want to download now!

In This Episode We Cover:

Chad’s strategies for retiring early through real estate
If focusing on cash flow or equity is the smarter move
How to control your budget
If offense or defense is more important when it comes to building wealth
How Chad made $120K in one flip
How tax-lien strategies work — and what Chad did to capitalize on them
Why “starter” investment homes aren’t always the best choice to stick with
How to transition from wholesaling to other investment strategies
How many hours you can expect to work each week once you’ve retired early with real estate
How “the stack” can help you grow your portfolio fast and efficiently
How house hacking can lead to an early retirement
And SO much more!

Links from the Show

Books Mentioned in this Show

Retire Early With Real Estate by Chad Carson
4-Hour Work Week by Timothy Ferriss
Building Wealth One House at a Time by John Schaub
Big Shifts Ahead by John Burns
Wooden by John Wooden

Fire Round Questions

Tweetable Topics:

“Our core skill as an investor is figuring the value of real estate.” (Tweet This!)

Connect with Chad

292: 200+ Deals in the First Four Years with Ryan Pineda Aug 16, 2018

Can you really create a massive real estate empire in a short time when starting with almost nothing? In today’s episode, you’ll not only discover that it’s possible, but you’ll see exactly how it was done. We sit down with Ryan Pineda, a former baseball player who got his start with just $10k while doing deals from the dugout. Ryan shares with us the exact strategies he’s using to more than double the number of deals he’s doing each year—and how he’s done that for the past four years. You’ll learn how he’s finding enough leads to flip 10 deals a month, how he’s able to buy long-distance, how he’s leveraging others so he can get more done, and much more.

In This Episode We Cover:

Ryan’s background and how he got into flipping
How he started flipping everything (including couches!)
Closing 100 deals
The details of his first deal
The difference between hard money and private money lenders
What his business looks like
Using relationships to find deals
How agents can influence a deal
Finding great wholesalers and getting deals from them
How Ryan’s funnel works
And SO much more!

Links from the Show

Books Mentioned in this Show

Will You Be My Mother by Sally Huss
Flip Your Future by Ryan Pineda
Investing with Low or No Money Down by Brandon Turner
The Book on Flipping Houses by J. Scott
Long-Distance Real Estate Investing by David Greene
The Everything Store by Brad Stone
Elon Musk by Ashlee Vance
Shoe Dog by Phil Knight

Fire Round Questions

Tweetable Topics:

“You have to know what the other roles need in order to train somebody to do it.” (Tweet This!)
“Wholesalers are contract flippers.” (Tweet This!)
“If the numbers work for me, then let’s do business.” (Tweet This!)

Connect with Ryan

291: How to Build a Business That Helps Find Deals Before Anyone Else with Neal Collins Aug 09, 2018

Are you struggling with finding deals in today’s market, where the best properties go fast? On today’s show, we interview Neal Collins, an investor in the red hot Portland Oregon who has figured out a way to find deals before anyone else even sees them! Neal shares the brilliant strategy he’s created to build a world where the best deals find him.

In this show, you’ll learn how Neal was able to find a 4-plex to house hacked—and how he made an additional $8-10k a month, as well as how he built a property management company and real estate brokerage (hint: he created an army of deal finders that get paid to make him money and find him deals) where he does none of the work but reaps all of the profits, and his brilliant, simple strategy for raising private money than anyone can replicate (he really hits the nail on the head with this one).

If you’re looking for a solid, profitable, and step-by-step process to make money and build wealth with real estate, you won’t want to miss how Neal did just that!

In This Episode We Cover:

Neal’s journey to real estate investing
How he accidentally got into seller financing
The importance of being able to pivot and change investment strategies
The kinds of properties he looks for
His thoughts on Airbnb and short-term rentals in general
How he got into managing other people’s properties
His experiences managing 200 units and owning a brokerage
Three things every investor looks for: returns, security, and customer service
And SO much more!

Links from the Show

Books Mentioned in this Show

Long-Distance Real Estate Investing by David Greene
Confessions of a Real Estate Entrepreneur by James A. Randel
Shoe Dog by Phil Knight

Fire Round Questions

Tweetable Topics:

“They talk about the numbers, but they are not talking about the work.” (Tweet This!)
“You have to leverage other people’s time and experience or build systems so that you can leverage your own time to do that.” (Tweet This!)
“The deals are not going to come to you. If you’re not consistently swinging the bat, you’re not going to hit the ball.” (Tweet This!)

Connect with Neal

290: 7 Paths to Financial Independence with Brandon & David PLUS Josh Dorkin Tells Us Where He’s Been! Aug 02, 2018

Are you ready to get really excited about the life possible through real estate? This show will go down in BP history as one of the foundational episodes: Brandon Turner and David Greene dive deep into seven unique and powerful strategies for building a real estate business that can fill your life with cash—not work. You’ll love the humor, the stories, the lessons, and the tips throughout! This episode is one you’ll come back to time and time again. Plus — as an added bonus — Josh Dorkin comes back to the BiggerPockets Podcast to explain where he’s been and what the future of the BiggerPockets Podcast will look like! Don’t miss a moment of this powerful show!

In This Episode We Cover:

Cashflow through rental properties
What a turnkey property is and who it’s for
BRRR Strategy
Challenges with BRRR investing
Note investing, lending, syndication, & crowdfunding
The scale of passivity
The first question David asks to people who want to do business with him
House flipping
Ways to become a CEO of a flipping business
Multifamily investing
Buying one house a year
The Stack
And SO much more!

Links from the Show

Books Mentioned in this Show

Real Estate Note Investing by Dave Van Horn
The ONE Thing by Gary Keller and Jay Papansan
So Good They Can’t Ignore You by Cal Newport
Raising Private Capital by Matt Faircloth
Own the Day, Own Your Life by Aubrey Marcus
59 Seconds by Richard Wiseman
The Big Leap by Gay Hendricks
High Performance Habits by Brendon Burchard

Tweetable Topics:

“The goal is to buy a house as cheaply as you possibly can and make it worth as much as you possibly can.” (Tweet This!)
“With every hire you make, your business should make more money.” (Tweet This!)

Connect with Brandon and David

289: Using Other People's Money to Build Your Real Estate Empire with Matt Faircloth Jul 26, 2018

Building a real estate business can be one of the best ways to achieve financial freedom. The problem for most, however, is money: There simply isn’t enough in your hands to get all the deals you want. That’s why today’s show might be the most impactful podcast episode you’ve ever heard. In today’s interview with Matt Faircloth, author of the new book Raising Private Capital, shares the steps needed to begin raising money from others to fund your real estate deals. You’ll discover the different types of private capital (and how to approach each), how Matt and his wife were able to grow from 30 units to over 300 (!) using other people’s money, and why talking about metrics to a private lender might not be a great idea at first. If you want to 10x your real estate portfolio or build your empire faster, this is one show you can’t afford to miss!

In This Episode We Cover:

Who Matt Faircloth is
How they’ve reached 380 units to date
Tips for building wealth by investing in business
What you should know about opportunity cost
Finding deals versus making good deals
How to raise private money
Tips for starting a business with friends and family
A role-play call with David
The number one question potential cash providers ask
Why you should start with debt
A new way to look at debt
When the SEC gets involved
About his book
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad, Poor Dad by Robert Kiyosaki
Rich Dad’s Cashflow Quadrant by Robert Kiyosaki
Raising Private Capital by Matt Faircloth
Lifeonaire by by Steve Cook & Shaun McCloskey

Fire Round Questions

Tweetable Topics:

“When it comes to raising money, you got to establish trust first.” (Tweet This!)
“People should start with debt.” (Tweet This!)
“It’s not about finding good deals, it’s about making good deals.” (Tweet This!)
“You’ve got to squeeze the lemon and make something out of it.” (Tweet This!)

Connect with Matt

288: 75 Rental Units in Their Early 30s with Jason and Carrie Harris Jul 19, 2018

It takes a long, long time to become successful in real estate and financially free — doesn’t it? Well, not according to the power couple on today’s show! In this episode of the BiggerPockets Podcast, we sit down with Utah’s Jason and Carrie Harris, who have built a sizable portfolio of more than seventy rental units over the past few years. These two have used a variety of creative financing strategies, and the lessons and stories they share are sure to inspire and educate you! Be sure to listen for the story of how they bought a four-plex for no money down, put $3,000 into it, and later made $186,000 in profit from that one deal. It’s unbelievable!

In This Episode We Cover:

Why real estate?
Their first deal
How they bought a four-plex and house-hacked it
How they finance their deals
Working their way with the bank
Their current number of doors
Commercial financing, residential financing, and partnerships
Analysing multiple properties
A deep dive on a deal
Raising the rent and without losing tenants
Lessons learned from an amazing deal
Buying properties with no money down
Upselling to their clients
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad, Poor Dad by Robert Kiyosaki
The Book on Investing with Low or No Money Down by Brandon Turner
Investing in Duplexes, Triplexes, and Quads by Larry Loftis
The Book on Rental Property Investing by Brandon Turner
The E-Myth Revisited by Michael E. Gerber
The E-Myth Real Estate Investor by Michael E. Gerber

Fire Round Questions

Tweetable Topics:

“We didn’t have a lot of money so we had to find ways to be creative.” (Tweet This!)
“You find a good enough deal, the money’s going to be there.” (Tweet This!)
“There’s a way there’s a solution. You have to make it work.” (Tweet This!)

Connect with Jason and Carrie

287: Putting Together Real Estate Deals Using Creativity Instead of Cash with Shiloh Lundahl Jul 12, 2018

How much money does it take to invest in real estate? Is there really such a thing as “no- or low-money down?” After you hear today’s interview, you’ll know the truth! Today we sit down with Shiloh Lundahl, a real estate investor who specializes in putting together deals using a variety of different no- and low-money strategies in some pretty unique combinations. From utilizing business lines of credit, to bringing in partners, to hard money, to lease options and beyond, this episode will give you tons of ammunition for your own creative finance deals. And don’t miss the incredible strategy that Shiloh uses today to make 300 percent more per deal than if he were to flip the home. It’s pretty darn fantastic!

In This Episode We Cover:

How Shiloh started his real estate investing journey
The book that helped him heal
Details about his first property
Office hacking and subleasing a sublease
His first flipping deal — $30K turned to $195K
How he bought his dream car
Losing $5K on his first flip
A hack with city inspectors
The importance of needing an assistant
The six different strategies he uses creatively
Moving to a lease-option model
Getting $800K in business lines of credit
Lease options and how he uses them
Selling properties 5–7 percent higher than the current ARV
Explaining lease option through videos
And SO much more!

Links from the Show

Books Mentioned in this Show

Long Distance Real Estate Investing by David Greene
Rich Dad, Poor Dad by Robert Kiyosaki
Rich Dad’s CASHFLOW Quadrant by Robert Kiyosaki
The Book on Investing with Low or No Money Down by Brandon Turner
The Richest Man in Babylon by George S. Clason
Shoe Dog by Phil Knight

Fire Round Questions

Tweetable Topics:

“Frustration comes from unmet expectations.” (Tweet This!)
“Each deal I learn quite a bit from it.” (Tweet This!)

Connect with Shiloh

286: $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne Jul 05, 2018

Ever have a conversation that is just impacts your life so powerfully you wish you could share it with everyone? That’s exactly what our conversation on today’s episode of the BiggerPockets Podcast is! Our guest, AJ Osborne, shares an incredible story of building his real estate business — which focuses on self-storage facilities — as a way to transition his family from rich to wealthy (and yes, there is a difference!) This show is packed with insight from AJ, including:

How a loss on his first deal directly led to millions of dollars in later profit
How to find underperforming real estate deals
How he made $13,000,000 in equity from a old Kmart building
And the medical emergency that put his real estate to the ultimate survival test while AJ fought for his life (this story will shock, amaze, and inspire you!)

This show is one of the most powerful episodes yet of the BiggerPockets Podcast, and we’re excited for you to dive in!

In This Episode We Cover:

His first deal that didn’t go the way he wanted… but the logic behind doing that deal (super important for every newbie)
The difference between being rich and being wealthy
Picking a wealth vehicle — and the difference between a Ferrari and a train
How to find an underperforming self storage building and turn it around (applies to any kind of real estate)
The Kmart story that helped him build around $13,000,000 in equity
Price / Convenience / Quality
Coma: “One of the most incredible stories I’ve ever heard”
Subsequent: Does your business survive “the coma test”?
And SO much more!

Links from the Show

Books Mentioned in this Show

The Essays of Warren Buffett by Warren Buffet & Lawrence A. Cunningham
The Obstacle is the Way by Ryan Holiday
Conspiracy Ryan Holiday

Fire Round Questions

Tweetable Topics:

“It’s not about overthinking things. It’s about finding things that work and putting them into action quickly.” (Tweet This!)
“There’s no way you win in life without having your agenda and being purposeful towards your agenda.” (Tweet This!)
“The economic downturn was my lucky break.” (Tweet This!)
“Work ethic is not enough.” (Tweet This!)

Connect with Aj

285: 3 Reasons Multifamily Rentals Might Be the Perfect Investment with Paul Moore Jun 28, 2018

Is there such thing as a “perfect investment?” According to today’s guest, yes. Today on the BiggerPockets Podcast we sit down with Paul Moore, a real estate investor whose 18-year journey through real estate has included house flipping, new construction, hotels, and finally—multifamily. In this episode, Paul shares three powerful reasons why multifamily might just be the most perfect real estate investment. You’ll learn how Paul discovered the vital difference between investing and speculating, why falling in love (with a deal) is incredibly dangerous, and the huge real estate gamble that Paul made that cost him $40,000. If you plan to eventually buy small multifamily properties, this is one podcast episode you can’t miss!

In This Episode We Cover:

Paul’s history and how he got into real estate
Bought a house for $34,000—painted it, and sold it for $65,000
Never fall in love with a deal
From two failed flips to 50 successful ones!
The difference between gambling and investing
How he built a Hyatt hotel with a partner and lost money
Some reason behind the dropping of homeownership
Why he thinks multifamily properties are perfect investments
How he looked at 180 deals this year
He sold an HR company in ’97 for almost $3 million. Ten years later he was 2.5 million in debt.
How he was able to end up debt free 13 months later
Financing an $8.7 million multifamily property
What is a green loan program?
The journey to a syndication process
How he’s been able to write a book, have a podcast, and write for BiggerPockets
Networking through BiggerPockets
And SO much more!

Links from the Show

Books Mentioned in this Show

Mastering the Rockefeller Habits by Verne Harnish
The Perfect Investment by Paul Moore
The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges
The ONE Thing by Jay Papasan and Gary Keller

Fire Round Questions

Tweetable Topics:

“Every percent drop in home ownership means a million new people in the renter pool.” (Tweet This!)
“When baby boomers rent, they never return to buying again.” (Tweet This!)
“Don’t fall in love with a deal.” (Tweet This!)
“Wealth built up slowly over time is the key to become successful.” (Tweet This!)

Connect with Paul

284: The “Miracle” Behind Becoming a Millionaire with Hal Elrod and David Osborn Jun 21, 2018

Wealth is not an accident, it’s a choice. And on today’s powerful episode of The BiggerPockets Podcast, you’ll learn exactly how to make that choice each and every day. We’re excited to bring back two return guests, Hal Elrod and David Osborn, to talk about the choices that wealthy people make to ensure they stay focused on reaching their goals. You’ll hear about Hal’s recent battle with cancer and the mindset that allowed him to overcome the odds and live. You’ll discover how your diet can make you wealthy and how to command your day from the moment you wake—even if you aren’t a morning person. And you’ll discover the powerful concept of having an “air game” in addition to your “ground game”—and how understanding the distinction can make you wealthier than you have ever dreamed. Packed with wisdom, humor, and incredible insight, this show will leave you pumped up and ready to choose wealth.

In This Episode We Cover:

Hal’s cancer survival story and the Miracle Morning movie
David’s latest updates
What their miracle mornings look like
How Miracle Morning for Millionaires came to be
Overcoming the “but I’m not a morning person” objection
How to own your agenda
Choosing to be wealthy
How to find the right group of people
The thing that’s more effective than work ethic
Tips on self leadership
How to develop unwavering focus
And SO much more!

Links from the Show

Books Mentioned in this Show

The Miracle Morning by Hal Elrod
Miracle Morning Millionaires by Hal Elrod, David Osborn & Honoree Corder
Secrets of the Millionaire Mind by T. Harv Eker
Rich Dad Poor Dad by Robert T. Kiyosaki
Rich Dad’s CASHFLOW Quadrant by Robert T. Kiyosaki
Wealth Can’t Wait by David Osborn

Tweetable Topics:

“It’s not about overthinking things. It’s about finding things that work and putting them into action quickly.” (Tweet This!)
“There’s no way you win in life without having your agenda and being purposeful towards your agenda.” (Tweet This!)
“The economic downturn was my lucky break.” (Tweet This!)
“Work ethic is not enough.” (Tweet This!)

Connect with Hal and David

The Miracle Morning Website

283: 18 Houses in the First 18 Months with Paul Thompson Jun 14, 2018

Start slow—or take off like a rocket? When it comes to real estate investing, the choice isn’t the same for all. This week, our guest Paul Thompson made a clear choice: Rocket! After realizing the fragile nature of his six-figure salary, he set out to replace his salary with passive income—as quickly as possible. This led him to average a new home purchase every month for the first year and a half, and soon he had true financial freedom and quit his 9–5. This show is packed full of actionable tips, including some never-before-heard-on-this-podcast strategies for finding deals with the use of virtual assistants, Craigslist, and cold calling! This is one episode for which you’ll need to take some notes, so grab a notebook and let’s get into it!

In This Episode We Cover:

Paul’s backstory prior to real estate investing
His first deal doing the BRRRR method
What is escape velocity?
P.I.L.E. (Passive Income greater than your Living Expenses)
How he manages his properties
Finding private money lenders through BiggerPockets
His system in making offers
Things he looks for in each deal
How to negotiate for seller financing
Subject-to explained
Why does he L.I.E. every day?
His interesting thoughts about money
How he balances his time
The third-party catalyst
And SO much more!

Links from the Show

Books Mentioned in this Show

Long-Distance Real Estate Investing by David Greene
The Book on Investing with No and Low Money Down by Brandon Turner
Building Wealth One House at a Time by John Schaub
The Richest Man in Babylon by George S. Clason
The Pumpkin Plan by Mike Michalowicz
Profit First by Mike Michalowicz
The Big Leap by Gay Hendricks

Fire Round Questions

Tweetable Topics:

“How many deals do you have is the wrong question to ask. It’s how much cashflow are you generating?” (Tweet This!)
“Never assume that what is important to you is important to the other party.” (Tweet This!)
“There is plenty of money for the things you really want.” (Tweet This!)
“You don’t want cash, you want what cash can give you.” (Tweet This!)

Connect with Paul

282: How to Create the Perfect Partnership with Tim and Jay Jun 07, 2018

When does one plus one equal WAY more than two? Real estate partnerships! On this episode of The BiggerPockets Podcast, we sit down with two real estate investors (Jay Helms and Tim Kelly) who were attempting to build their business alone, but found they could do far more together. In this fun and fast-paced interview, you’ll learn what makes their partnership so successful, as well as how the team analyzes a market (including several can’t-miss online research websites), and how they took down a 42-unit apartment complex using some pretty fantastic creative financing. Whether you plan to build your empire alone or alongside a partner, this episode is sure to give you a variety of tips and strategies to help your business take off.

In This Episode We Cover:

Tim’s background story and how he got into real estate
Using 203k loans to buy deals
Jay’s background and his live-in flip
Why they think they make up a good team
How they closed on an apartment complex 6-months after partnering up
How they found the deal and details about it
The importance of a clear and concise plan
How they financed the deal
Tips for finding the right partners
How to create a “sample deal package”
What to look for in a partner
Why they participate in the BiggerPockets Forums
How to network effectively
What a good deal is for them
And SO much more!

Links from the Show

Books Mentioned in this Show

How to Win Friends & Influence People by Dale Carnegie
Rich Dad Poor Dad by Robert Kiyosaki
The ABCs of Real Estate Investing by Ken McElroy
Sovereignty: The Battle for the Hearts and Minds of Men by Ryan Michler
Wild at Heart Field Manual by John Eldredge
Tax-Free Wealth by Tom Wheelwright

Fire Round Questions

Tweetable Topics:

“Is there a better way to first get involved in real estate than to leverage the power of the bank?” (Tweet This!)
“Once you figure out your why, then you will be able to set goals to support that why.” (Tweet This!)
“It’s more important to pick something than to get stuck choosing the right thing.” (Tweet This!)
“I want to live where I want to live and invest where it makes sense.” (Tweet This!)

Connect with Tim

Connect with Jay

281: How to Get Your First Deal—An Episode For New Investors With Bill, Jacob, and David! May 31, 2018

Your first deal might just be your most important — because it leads to all the rest. That’s why it’s so imperative to study others who have just recently purchased their first deal! So today we’re excited to bring you a mashup episode, in which we sit down with three different investors to hear how they bought their first few investment properties. You’ll hear how Bill went from ex-con to house hacker, how Jacob used some highly creative methods to find his first deals, and how David is building an empire from across the ocean. Don’t miss a moment of this powerful episode!

In This Episode We Cover:

Bill

Being imprisoned for 10 years
What changed in prison for Bill
Starting your business on the side
How he ended up investing in real estate
What went in his head with his first investment property
The beauty of keeping expenses low
Having tiny little steps

Jacob

Jake’s investing path
How he got into real estate
Buying a $25,000 house with a $140 monthly mortgage
Going for the smaller banks
Investing at a very young age
Joining local Facebook pages
His criteria for finding properties

David

David’s story and how he got to Hawaii
BRRR, OD, and HELOC
Paying close to 5 percent on a 10-unit apartment
Having a great team you can trust
How he built a meet up in Hawaii
And SO much more!

Links from the Show

Books Mentioned in this Show

The 21 Irrefutable Laws of Leadership by John C. Maxwell & Steven R. Covey
Awaken the Giant Within by Anthony Robbins
Rich Dad Poor Dad by Robert Kiyosaki
Long-Distance Real Estate Investing by David Greene
The Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets
The Advanced Guide to Real Estate Investing by Ken McElroy
How to Win Friends & Influence People by Dale Carnegie
The Miracle Morning by Hal Elrod
The 80/20 Principle by Richard Koch

Tweetable Topics:

“My success story didn’t started when I got out (from prison), it started right away in the very beginning.” (Tweet This!)
“Quit the things that are holding you back and have you put in the exact location you are.” (Tweet This!)
“Find a market that makes sense.” (Tweet This!)
“I want to buy something that is certainly desirable.” (Tweet This!)
“Highest risk is vacancy.” (Tweet This!)
“Become a person worth being around.” (Tweet This!)
“If they’ll like you, they’ll join.” (Tweet This!)

Connect with Bill

Bill’s Blog

Connect with Jacob

Connect with David

280: The Key to Making Great Deals (Hint: Overlooked Properties!) with Mark Hentemann (Writer for TV’s Family Guy!) May 24, 2018

On today’s show, we sit with Mark Hentemann, a writer and producer for TV’s Family Guy who also invests in Los Angeles real estate! Mark shares his incredible success stories, which include his trick for finding overlooked properties, house hacking for massive profits, adding value and utilizing the 1031 exchange—plus more! Mark’s strategy for filtering data will save you tons of time and help you find the deals others are missing. Listen and learn how Mark got into real estate investing through house hacking—and how that led to an $800,000 profit on his first deal! This episode is absolutely packed with motivating advice and fantastic ideas for getting started. Bonus? It will make you think and make you laugh!

In This Episode We Cover:

Mark’s day job as a writer for Family Guy
The first deal that gave him buyer’s remorse
Having a friend as a first tenant
Selling that first deal for $1.27 million
The $250 dishwasher story
What’s a 1031 exchange?
Buying with solid fundamentals
Finding low-cost-per-square-foot buildings
Having the perfect open house
Finding deals in today’s difficult market
The river mentality in regards to moving forward
The people on his team
Finding people in the BiggerPockets community
His metric called “leverage cost per square foot”
And SO much more!

Links from the Show

Books Mentioned in this Show

So Good They Can’t Ignore You by Cal Newport
The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges
Sapiens: A Brief History of Humankind by Yuval Noah Harari

Fire Round Questions

Tweetable Topics:

“It’s really valuable to be able to sit back and wait for the deal to come to you.” (Tweet This!)
“Everyone’s got an opinion on why things are a bad deal.” (Tweet This!)
“Leverage is the one common denominator.” (Tweet This!)
“When you make the money, handle it well, be careful, don’t waste it, invest it.” (Tweet This!)

Connect with Mark

279: How to Find Overlooked Opportunities in a Hot Market with Andrew Cushman May 17, 2018

Are you ready to jump into real estate investing, but don’t believe you can find deals in today’s hot market? In this episode, we sit down with multifamily expert Andrew Cushman, who’s actively doing deals in today’s market — and turning big profits. In this show, Andrew explains how he’s finding deals, what metrics he uses to qualify them, where he’s buying today, and what his secret tricks are for finding the “overlooked opportunities” most investors miss — including how he found an amazing deal in the “trash can” for bad deals!

You’ll love hearing how Andrew creates millions of dollars in equity and builds relationships with deal-finders so that they bring him the best deals first. Be sure to download this episode and share it with your friends, so you, too, can master the secrets that the pros are using to snag killer deals!

In This Episode We Cover:

Andrew’s backstory
How to make deals rather than find them
The ABCD neighborhoods — what are they?
What specific properties Andrew is looking for
His effective screening criteria for finding properties
An in-depth story on one deal
Net operating income (NOI)
Understanding how properties are valued
Challenges Andrew faced over the years
Finding great contractors
Andrew’s many rental property units
And SO much more!

Links from the Show

Books Mentioned in this Show

The ABCs of Real Estate Investing by Ken McElroy
David Greene’s Long Distance Real Estate Investing
Emerging Real Estate Markets by David Lindahl
How to Win Friends & Influence People by

Fire Round Questions

Tweetable Topics:

“The person who wants it the most, loses.” (Tweet This!)
“You can completely destroy an investment with the wrong people managing it.” (Tweet This!)
“Don’t wait to buy Real estate. Instead, buy real estate and wait.” (Tweet This!)
“The best way to spot a great deal is to look at 99 bad ones.” (Tweet This!)

Connect with Andrew

278: The “Boring” Path to Massive Real Estate Success with Charles Roberts May 10, 2018

Real estate is sexy… most of the time. But is that really what makes it profitable? On today’s show, we sit down with Charles Roberts, an investor and agent from the Denver market. He explains that the secret to success is far more boring than we like to admit. In this episode, we explore Charles’s story and the lessons he’s learned over his 20+ year career, including how his first deal failed miserably, how he helped another investor retire through rentals in just five years, and his strong belief that the deal isn’t as important as most investors think — plus so much more! Charles is incredibly wise, and he has years of experience — so this is one episode that you’ll come back to time and time again.

In This Episode We Cover:

How Charles got started by buying his first duplex
A 15-year loan vs. a 30-year loan
How he managed to go full time as a fix-and-flipper
What went wrong — despite having 29 properties
Should newbies get into flipping?
Figuring out what works and what doesn’t
What Charles looks for in a partner
The benefits of helping someone else achieve success in real estate
Scaling, and what he thinks about it
Why lending is important in real estate
Work harder not smarter
Where is he finding deals
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
The Book on Investing with Low or No Money Down by Brandon Turner
The Book on Flipping Houses by J. Scott
Lifeonaire by Steve Cook & Shaun McCloskey
Set for Life by Scott Trench
The Millionaire Next Door by Thomas Stanley & William Danko
Born to Run by Christopher McDougall

Tweetable Topics:

“We think that everybody else is stupid but it turns out we’re the ones stupid.” (Tweet This!)
“You don’t know anything until you do it.” (Tweet This!)
“You want to work with people you like.” (Tweet This!)
“The harder you work the smarter you end up.” (Tweet This!)

Connect with Charles

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