BiggerPockets Real Estate Podcast

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

Carrot Software Company

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

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

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

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

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

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

In This Episode We Cover:

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

Breaking multiple world records and developing mental toughness

Why your goals should scare you enough to pursue them

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

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

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

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

And So Much More!

Links from the Show

BiggerPockets Podcast

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

BiggerPockets Perks

BiggerPockets Insights

BiggerPockets Books

James “Iron Cowboy” Lawrence's Website

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

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

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

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

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

In This Episode We Cover

How to reach financial freedom through small multifamily investing

The four key benefits of investing in multifamily properties

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

How to analyze your multifamily deals using the BiggerPockets Calculators

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

Risks and dangers to look out for in your next deal

And So Much More!

Links from the Show

The BiggerPockets Bundle Giveaway

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

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

BiggerPockets Rental Property Calculator

BiggerPockets Podcast

BiggerPockets Webinar Replays

BiggerPockets Multislides

BiggerPockets Perks

BiggerPockets Insights

BiggerPockets Books

BiggerPockets 7 Years to 7 Figure Wealth

BiggerPockets Pro Upgrade

Realtor

Multiple Listing Service (MLS)

Gary Keller

Email Your Questions: podcast@biggerpockets.com

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

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

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

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

In This Episode We Cover:

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

Appealing to higher authority when you have to make tough decisions

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

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

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

Understanding that “everything gets easier as you grow”

And So Much More!

Links from the Show

The BiggerPockets Bundle Giveaway

Mobile Home Park Investors with Jefferson Lilly & Brad Johnson

The Mobile Home Park Investing Podcast with Kevin Bupp

Pay Near Me

BiggerPockets Facebook Page

Joe's BiggerPockets Profile

BiggerPockets Instagram

Airbnb

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

BiggerPockets Conference

Email Your Questions: podcast@biggerpockets.com

Joe's Instagram

Joe's Facebook Page

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

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

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

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

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

In This Episode We Cover:

Getting on a team where your strength is amplified

Surrounding yourself with those who overachieve and push you higher

Finding a way to quit everything repeatable or assignable

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

Helping others upgrade their lives and giving back whenever possible

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

And So Much More!

Links from the Show

The BiggerPockets Bookstore

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

Email Your Questions: podcast@biggerpockets.com

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

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

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

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

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

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

In This Episode We Cover

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

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

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

Fighting lifestyle creep and never falling into the Ferrari trap

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

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

And So Much More!

Links from the Show

The BiggerPockets Bookstore

Alan Corey

Gary Keller

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

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

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

YNAB (You Need A Budget)

Mint

Email Your Questions: podcast@biggerpockets.com

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

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

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

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

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

In This Episode We Cover:

Housing market predictions for 2021 and beyond

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

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

Understanding the difference between the dollar crashing and home values skyrocketing

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

Why millennials face an uphill battle when trying to purchase homes

And So Much More!

Links from the Show

NMHC Rent Payment Tracker

Dave's Real Estate News

Email Your Questions: podcast@biggerpockets.com

Check the full show notes here: http://biggerpockets.com/show502

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501: Seeing Greene: How Soon Can I Refi? + 11 Other Real Estate Questions Sep 05, 2021

We’re back with another episode of “Seeing Greene” with David Greene! Listeners and investors have submitted their questions via video and through the BiggerPockets Facebook Groups and BiggerPockets forums over the past month, we’ve compiled some of the best (and most frequently asked) questions so David can answer them live on air!

This episode goes over a handful of different topics with questions from agents, wholesalers, new home buyers, rookie investors, veteran investors, and others just trying to get into real estate investing. These questions are not only common, but crucial when trying to understand purchasing, structuring, and optimizing real estate investments.

If you want to ask David a question, click here to submit a video for David to answer on the next “Seeing Greene”! Want an answer right away? Head over to the BiggerPockets forums to get help from millions of other real estate investors, just like you.

In This Episode We Cover:

How to become a star agent in a brand new (or competitive) market

Should you use points to get lower interest rates?

How soon can you refinance a house purchased in cash?

What are some factors of a successful short-term rental?

How would David escape a triangle hold from Brandon Turner?

How do you structure partnerships?

And So Much More!

Links from the Show

BiggerPockets Wealth Magazine

BiggerPockets Bundle

Submit Your Questions to David Greene

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

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

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

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

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

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

In This Episode We Cover:

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

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

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

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

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

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

Why you need to love studying real estate to become successful

And So Much More!

Links from the Show

BiggerPockets Wealth Magazine

BiggerPockets Bundle

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

Ray Kroc's Story

Dave Ramsey's Website

Cashflow Game

David's Guesting on Ken McElroy's Show

Ken McElroy's Website

Jordan Peterson's Website

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

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

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

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

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

In This Episode We Cover:

The difference between entrepreneurs and business owners

Why so many business owners get bored of their business

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

Letting go of technician roles in a business and delegating tasks

Getting rid of bad habits through mindful integrity

Forgiving yourself for mistakes, self-judgment, and blame

And So Much More!

Links from the Show

Mind Your Business Podcast

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

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

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

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

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

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

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

In This Episode We Cover:

What the “Big City BRRRR” strategy entails

How to control tenant turnover so you have ZERO vacancy

Using section 8 to take in higher rents

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

Becoming the best landlord a tenant could ask for

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

And So Much More!

Links from the Show

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

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

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

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

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

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

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

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

In This Episode We Cover:

Why chasing larger deals leads to larger profits

Understanding the skills needed to become a successful multifamily investor

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

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

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

Why underwriting is more than just putting numbers into a spreadsheet

And So Much More!

Links from the Show

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

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

Discover the Multifamily Book bonuses

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

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

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

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

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

In This Episode We Cover:

The difference between small multifamily properties and large multifamily properties

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

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

Defining your crystal clear criteria and knowing what you want

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

Financing small multifamily properties and house hacking

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

And So Much More!

Links from the Show

Realtor.com

LoopNet

Mike Williams's LinkedIn Profile

Jason Drees's Coaching

Ryan Murdock's Instagram

Micah Cabagbag's Instagram

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

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

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

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

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

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

In This Episode We Cover:

How Sukhinder’s love of entrepreneurship began

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

Embracing uncertainty and calculating your risks

Starting in Silicon Valley and building a strong reputation

Choosing to make the “minimum viable choice” whenever possible

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

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

And So Much More!

Links from the Show

Brandon and David’s Books

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

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

Choose Possibility Website

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

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

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

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

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

In This Episode We Cover:

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

Tracking how your team performs their work and continuously improving

Pushing past fear and not allowing laziness to stop your dreams

Understanding the fundamentals and performing them as well as possible

Tracking and reviewing metrics consistently

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

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

And SO much more!

Links from the Show

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

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

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

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

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

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

In This Episode We Cover:

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

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

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

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

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

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

And So Much More!

Links from the Show

Brandon and David’s Books

Real Estate Rookie Bootcamp

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

Airbnb

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

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

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

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

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

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

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

In This Episode We Cover:

Airbnb arbitrage and the risk of always going after cashflow

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

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

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

Funding your deals through HELOCs and partnerships

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

And SO much more!

Links from the Show

Joshua Tree Harebnb Listing

American Horror Story

Turo

BiggerPockets Podcast 280: The Key to Making Great Deals (Hint: Overlooked Properties!) with Mark Hentemann (Writer for TV’s Family Guy!)

Airbnb

Check the full show notes here: https://biggerpockets.com/show492

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

491: 5 Rules of Health & Wealth to Become the Millionaire with a Six Pack Aug 01, 2021

Many of us have a story behind doing what we do. You may have been raised by parents living paycheck to paycheck, spurring you to chase financial freedom and create a better life. Or maybe you labored tirelessly at work to get a promotion or raise, simply to be passed up for someone else. For Adam Gilbert, founder of MyBodyTutor, his “why” is his father.

Adam looked up to his father all his life but saw the pain and distress he was going through when he had a heart attack, a triple bypass surgery, and was later diagnosed with multiple sclerosis. This forged a path for Adam that materialized in the health and fitness space. Adam knew that he never wanted to be “too tired” to play with his kids, spend time with his family, or pursue a passion.

As Adam has grown his business over the past decade and a half, he’s come away with many lessons that ring true for not only fitness enthusiasts but business owners as well. We talk through the five rules that Adam has put together for anyone to become healthy, wealthy, and mentally sound. While this is a mindset episode, you’ll be surprised with how many of these rules crossover almost perfectly into real estate investing.

In This Episode We Cover:

When to quit your full-time job and pursue your passions

Choosing daily consistent action over large infrequent actions

Why health is the ultimate productivity tool

Setting up “planned indulgences” and being strict, yet fair with yourself

Choosing consistency over intensity and opting for small changes over time

Doing what scares you until it doesn’t

Accountability through partners, coaches, and friends

And So Much More!

Links from the Show

Brandon and David's Books

Adam from My Body Tutor

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

Mybodytutor.com Special Deal for Listeners

Click here to check the full show notes: https://www.biggerpockets.com/show491

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

490: 7 “Ninja Tips” From One of Hawaii’s Largest Real Estate Investors Jul 29, 2021

We all know that Hawaii is expensive. With its black sand beaches, fantastic surfing waves, and delicious poke bowls, why wouldn’t you want to live and invest there? Well, even with all those positives, many investors steer clear of Hawaii due to its high prices and lack of land, but one investor, Indar Lange, has proven those critics wrong.

Indar is Hawaii’s largest flipper, running about 15 flips at any given moment, and tackling deals priced at upwards of $3,000,000! Indar is no rookie to the game, he’s been doing this for the last decade and a half, but he had humble beginnings.

Growing up poor on a farm in rural Hawaii, Indar thought that his life would be set once he got his engineering degree. After realizing that engineers topped out at about $150,000 per year, Indar had to think of something else to do. He coincidently bought a small home at the time, fixed it up, and sold it after living in it for a few years. He paid zero taxes on the gain and this became his first live in flip, which caused the real estate wheels to start turning in his head.

Now, he’s hooked up with some of the best lenders, agents, wholesalers, contractors, and investors in the Hawaii area, taking down massive deals for a big payday. You’ll hear Indar’s full story and catch his “Ninja Tips” for the aspiring real estate investor.

In This Episode We Cover:

Why real estate the go-to investment for the wealthiest people in the world

Completing a live in flip and the tax benefits associated with it

When it makes sense to attend a real estate course (even expensive ones)

How Indar stopped his first flip from falling through due to lack of funding

Financing your deals with hard money and private money loans

Long-distance real estate investing from Hawaii

Cost segregation studies and other tax write-offs from real estate

Indar’s “Ninja Tips” for real estate investors

And SO much more!

Links from the Show

BiggerPockets Hard Money Lenders

Plastiq

BiggerPockets Money Podcast

Mindy's BiggerPockets Profile

Home Depot

Yelp

BiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl Yarber

BiggerPockets Podcast 355: From Small-Time Landlord to 1,000+ Units Under Contract with Ryan “The Mercenary” Murdock

BiggerPockets Conference

Brandon and David's Books

Adam from My Body Tutor

Check out the full show notes here: https://biggerpockets.com/show490

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

489: How Are You Preparing to “Exit Rich” in Real Estate? Jul 25, 2021

Real estate is a business, but we often don’t think of it that way. A single-family home here, a duplex there, at the end of the day we’re just landlords, right?

What if some large corporation or outside buyer wanted to buy your real estate business from you. Even better, what if you had such efficient systems in place that you could sell your business for 10x what you put into it. Sounds pretty sweet right?

Today we talk to Michelle Seiler Tucker & Sharon Lechter, authors of Exit Rich and Rich Dad Poor Dad. Michelle and Sharon have spent years building and selling businesses and have defined the 6 Ps to a profitable exit. Their main critique of most business owners: start planning to scale efficiently TODAY.

This can help you as a real estate investor start putting systems in place to grow your portfolio faster and with less work from you later on. If you’re willing to put in the upfront effort to start hiring right, systematizing, and opting for efficiency you most certainly will “exit rich”!

In This Episode We Cover:

What business owners do that costs them millions in company valuation

The 6 Ps to a profitable (and stress-free) exit

Building systems that allow your business to grow efficiently

Focusing on company culture and having an employee liaison

Why most business owners won’t let go of their “hands-on” role

How a business is valued (and what you can do to boost your valuation)

And So Much More!

Links from the Show

BiggerPockets Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone

Brandon's Books

Cherry Creek Lodge - Guests Ranch

Exit Rich Website

Click here to check the full show notes: https://www.biggerpockets.com/show489

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

488: From 4 Units to 2,000 and Why Large Multifamily “Isn’t So Scary” Jul 22, 2021

The average journey of a real estate investor tends to go something like this: buy a house, use profits to reinvest into another house, buy a duplex here and there, and buy another house again. Does this sound like you or someone you know?

For Feras Moussa, stacking single-family properties was never the goal, especially after he had to manage his first rental investments. At some point, it becomes too hard to scale and you’re stuck with 30+ units and 30+ tenants all trying to get your attention to fix something. This is how real estate can become more of a job than a business.

Feras knew this so he started venturing into medium/large multifamily investments instead. His first big multifamily deal was a 99-unit deal in Atlanta, Georgia. He was able to take a neglected apartment complex and turn it into a cash-flowing, high-value piece of property that he later sold for a sizable multiple. Now, Feras does bigger deals, like a $50M+ apartment complex that his company Disrupt Equity and Open Door Capital are partnering on.

If you feel too scared to jump (or even dip your toe) into bigger multifamily investments, hear out Feras. He shows it’s a lot less scary than most people think.

In This Episode We Cover:

How to scale your real estate investment portfolio with medium/large multifamily

The habits that a successful multifamily investor develops

Networking and being more than just the “business card” person

Why masterminds are a HUGE source of deals, partners, and friends

Underwriting and how it differs from basic deal analysis

Using “value-add” to increase the value of a property and cash flow

The red flags you should look for when buying multifamily properties

And SO much more!

Links from the Show

Check the full show notes here: https://biggerpockets.com/show488

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

487: 10 Common Real Estate Investing Questions Answered by David Greene Jul 18, 2021

David Greene is back and we’re “Seeing Greene” as he answers some of the most common real estate investing questions from BiggerPockets listeners! David goes over a multitude of different questions, ranging from financing, to acquisition, to mindset, and strategy.

Not only does David have the experience of being a real estate investor, he’s also a licensed real estate agent and owns a mortgage company as well. This allows him to have insider insight that many real estate investors simply don’t have.

If you’ve wanted a question answered by an industry expert, stick around because your question might just be answered on this episode of “Seeing Greene”!

In This Episode We Cover:

Building leverage with HELOCs and Cash-Out Refinances

When to lower rent prices on a vacant property that won’t fill up

Write-offs and tax deductions that real estate investors can use

How newly proposed capital gains taxes may influence seller financing opportunities

How to shift your mindset and identity to fit the person you want to become

Finding financing when you’re self-employed or have low income

And So Much More!

Links from the Show

Rookie Podcast 55: Combining House Hacking and Live in Flips with Tyler Madden

Submit Your Questions to David Greene

Click here to check the full show notes: https://www.biggerpockets.com/show487

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

486: The Key to Scaling that Most Real Estate Investors Miss Out On (+New Podcast!) w/ Liz Faircloth & Andresa Guidelli Jul 15, 2021

It’s understandable why so many real estate investors don’t want to partner up. I mean, who wants to split half of a rent check with someone else? This can seem especially true when you’re just starting and every cent of profit counts. But, what if the path to financial freedom was through partnerships? What if you could grow your wealth, spend less time working, and scale far faster simply by leveraging your relationships.

With us are the hosts of the new InvestHER podcast, Liz Faircloth and Andresa Guidelli, two real estate veterans who partnered up to teach women about financial freedom, cash flow, and everything related to real estate. Liz and Andresa are both partners in real estate and partners in leading the InvestHER community, so they know a thing or two about what makes partnerships work and what doesn’t.

We talk about questions to ask potential partners, how to test out a partnership by doing a project together, formalizing a partnership with binding contracts, how to stop resentment in partnerships, and how to end partnerships that go bad.

If you’re looking to scale your real estate portfolio to new heights, you’ll definitely be using partnerships to do so. Tune in to make sure you and your partner stay protected!

In This Episode We Cover:

Why it’s so hard to scale in real estate without partnerships

The top questions to ask a potential partner

Testing out your partnership by doing a small deal together

Making deposits into the “emotional bank account” of a partnership

Finalizing your partnership agreement with an attorney

Keeping information flowing on both sides

Preventing (and ending) bad partnerships

The new InvestHER podcast!

And SO much more!

Links from the Show

Real Estate Rookie Podcast

BiggerPockets Business Podcast

BiggerPockets Money Podcast

BiggerPockets Podcast 088: Investing with Your Spouse, Managing Financials, and Growing Your Team with Matt and Liz Faircloth

BiggerPockets Podcast 203: Finding Deals, Funding, Contractors, and Mentors with Matt and Liz Faircloth

BiggerPockets Podcast 314: How to Find Rockstar Contractors and Manage Like a Boss with Andresa Guidelli

Matt Faircloth's BiggerPockets Profile

Ryan Murdock's BiggerPockets Profile

Mindy Jensen's BiggerPockets Profile

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

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

Check the full show notes here: https://www.biggerpockets.com/show486

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

485: Atomic Habits That Help You Achieve Unthinkable Success w/ NYT Best Selling Author James Clear Jul 11, 2021

Three years ago, Atomic Habits was released. In this groundbreaking book, author James Clear asks a complex question “why do we continue our bad habits while neglecting good habits?” While it’s not as easy as simply saying, “I want to be better, hence I’ll stop doing this”, there are some ways that you can convince (and often trick) yourself into developing the habits that will help you create a better life.

The first thing to know about habits is that they aren’t a minimal part of your life. Your habits are what your life is built upon. Do you habitually clean your room every week? You’re most likely a clean and well-organized person. Are you constantly looking for ways to save money? You probably have a decent-sized bank account. If you want to become the “money person” or the “helpful person” or the “intelligent person” you need to start adopting the habits that someone in those positions would have.

So how do you develop a good habit? More importantly, how do you halt your bad habits from derailing your entire life? James walks through a few key ways to do this, from making habit cues less obvious, to changing your environment, to removing yourself from the choice entirely. One thing is for certain, if you want to change your life for the better, you need to start changing your habits.

In This Episode We Cover:

How James developed his interest in habits and psychology

Becoming “the architect” of your habits and not falling victim to poor choices

Understand the end goal and slowly work your way to it

Taking on the actions of someone successful and becoming that identity

Why bad habits can be so hard to break

How long does it take to develop a habit?

Intaking media that will change your mindset and influence your actions

And So Much More!

Links from the Show

BiggerPockets Events

BiggerPockets Store

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

Click here to check the full show notes: https://www.biggerpockets.com/show485

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

484: 3 Ways to Simplify Your Real Estate Investing with Brandon Turner Jul 08, 2021

Brandon Turner is a man of many talents. Whether it be building a real estate empire, growing a team, or surfing out in Maui, he seems to make it all look so simple. Yet, that is his key to success. Simplicity.

Brandon’s keynote speech from BPCon 2019 touches on many things, including how to simplify your business so it’s working for you, how to grow a team you trust, working with your strengths, and becoming the superhero in your own story. It also includes glimpses into Brandon’s everyday life. From hair styles, to how to ask out your crush, and even saving naked swimmers on Maui beaches.

Regardless of where you’re at in the journey, every successful business owner (whether real estate or not) has to make a big business into something simple and seamless, and that’s what you’ll learn from Brandon’s keynote speech.

Want tickets to BPCon 2021? Click here!

In This Episode We Cover:

How to make your real estate business as simple as possible

How to take the complexity out of tasks that seem difficult at the start

Why simple isn’t easy (but it’s worth it)

How to stop yourself from “building too many bridges”

Why you need to hire before you’re ready

The importance of rehearsing your steps (in business and surfing)

How to become the “Superhero” in your story

Why Brandon had a mullet in his youth

And SO much more!

Links from the Show

J Scott 's BiggerPockets Profile

BPCON2021

BiggerPockets Business Podcast 18: How to “Have It All” by Living with Intention with Brandon Turner

BiggerPockets Podcast 394: Making a 25 Deal/Year Business (and Marriage) Work… Together! with Elliot and Chrissy Smith

Ryan Murdock's Facebook Profile

Check the full show notes here: https://www.biggerpockets.com/show484

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

483: The 5 Things You Need to Build a $1,000,000+ Rental Portfolio Jul 04, 2021

Last week, Brandon and David sat down to talk about the “Core 4” of any successful real estate team. Now they’re here to talk about the “Divided 5-ed”, a term they coined to describe the five team members you’ll need to scale your portfolio to new heights. Both Brandon and David agree that a sizable, growing real estate portfolio needs to be thought of more as a business than just a group of rental properties.

Maybe you’re looking to scale into large multifamily properties, commercial properties, self-storage units, or mobile home parks. Or maybe you’re just going to buy 1,000 single-family homes. Whatever your strategy, you will need a lead generator, underwriter, money raiser, asset manager, and financer/bookkeeper on your team. You may start out doing many of these roles when you buy your first few properties, but as you scale, you’ll need to fill these roles with more fitting individuals.

Maybe you want to get more experience before you start buying properties. Great! Join someone else’s team and think about how you can be the BEST in the role that you’ve been appointed to.

In This Episode We Cover:

The five roles that will make scaling possible (and easy) for your future acquisitions

How to choose the asset class that fires you up

Using DISC scoring to decide who would be best for each role

How Brandon built his team at Open Door Capital using this layout

Finding a team where you learn, grow, and thrive

And So Much More!

Links from the Show

BiggerPockets Podcast 481: Build an Unstoppable Real Estate Portfolio with the “Core 4”

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

BiggerPockets Podcast 444: 150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-Johnson

How to Use the DISC Profile to Communicate Effectively in Business

BiggerPockets Events

BiggerPockets Store

Click here to check the full show notes: https://www.biggerpockets.com/show483

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

482: Full-Time Fireman Does 300 Deals While Working 40 Hours/Week Jul 01, 2021

Everybody is busy. We have jobs, kids, businesses, and responsibilities to take care of. Why go out of your way and risk your money and time to invest in real estate? Mike Webb, firefighter, investor, flipper, and wholesaler argues the opposite. Mike says that it’s far riskier to simply rely on your job for the entirety of your income.

Mike began his investing career by investing in a side-by-side duplex, rehabbing it, and failing to complete a successful BRRRR. After seeing the cash flow and learning from his mistakes, Mike saw an investment strategy that could carry him to financial freedom. He is still working as a full-time firefighter, but is building his portfolio and completing 20-30 flips per year while he does so. This gives Mike the ultimate freedom to do whatever is best for him and his family, even though he loves his job.

In a world where it seems cool for everyone to quit their job, Mike reassures those who like their work that it’s worth staying, especially to keep that investment money flowing. He also walks through his partnerships, how he hires his team members, and what you can do to systematize your business so you can outsource your work as you take on more strategic roles!

In This Episode We Cover:

Why you don’t have to choose between a career and investing in real estate

Learning from your first deal and using your newfound knowledge to expand

Why the 1% rule and 2% rule shouldn’t be the ONLY metric you consider during deal analysis

Using the BiggerPockets Forums to meet partners, mentors, and other real estate professionals

The “OODA Loop” and why it’s a great tool for organizations

Starting a meetup and being in the know with local investors

Why working AND investing decreases your overall financial risk

And SO much more!

Links from the Show

BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene

BiggerPockets Podcast 469: Why Do Investors Lie to Themselves? +More Audience Q&A (Pt. 2) (Mike's question)

BiggerPockets Store

Check the full show notes here: https://biggerpockets.com/show482

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

481: Build an Unstoppable Real Estate Portfolio with the “Core 4” Jun 27, 2021

David Greene is great at coining new terms, just like his co-host Brandon Turner. Today we talk about the “Core 4” of any successful real estate investor's team. This includes the agent/deal finder, the property manager, the lender, and the contractor. Without these Core 4, you’ll have trouble building a real estate empire, especially if you’re doing so long distance. The good news? Even if you’re a brand new investor, you can start building out these relationships today!

With the help of BiggerPockets, you can find agents, lenders, property managers, and contractors. You can also head over to the forums and chat with other investors in your area, get their take on who’s the best in the business, and use their referrals to grow your team.

Are you an agent, lender, contractor, or property manager? Great! Brandon and David drop some tips on how you can attract the best clientele that will help you grow your businesses as well. The most important part of any of this is having open, honest, consistent communication with your team members and making sure nothing is falling through the cracks so everyone knows exactly what they should be doing.

In This Episode We Cover:

What the “Core 4” is and why it’s crucial for all real estate investors

How to find an agent using BiggerPockets’ agent directory

What agents can do to find clients that will close many times over

Why you should never “just go for the rate” when comparing lenders

Why a great property manager should be out of sight and out of mind

Choosing a contractor who ISN’T just an “order taker”

And So Much More!

Links from the Show

Real Estate Investing Calculators

Beardy Brandon

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

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

BiggerPockets Podcast 475: 50x Your Revenue By Focusing on ROR (Return on Relationships) with John Ruhlin

https://www.biggerpockets.com/show481

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

480: Making $200k a Month After Being on the Verge of Bankruptcy Jun 24, 2021

At one point, Dan Brault had a construction company working on custom builds in upstate New York. He had left behind a successful sales career to do it and although he was highly stressed, he felt all of his hard work was going to be rewarded sometime soon. That is, until, he had a huge project that went over budget, over the timeline, and forced him into $400,000 worth of debt.

Dan closed his company, went back to sales and started to think about what he did wrong. Was it the leadership? Was it the system? Was it just bad luck? Dan went to work, doing whatever he could to level up his business skills so he could get back into real estate full-time and do so in a way that allowed him to scale.

Now, after going through many of life’s lessons, Dan is doing phenomenally, with him and his team closing on 12+ wholesale deals a month, getting him close to $200k in monthly revenue. He credits his success to his systems, his team, and the way he pivoted his leadership that allowed the entire company to work as one well-oiled machine.

In This Episode We Cover:

The danger of buying cheap homes in C or D-class neighborhoods

On-market vs. off-market properties and which investors should go for off-market deals

Dan’s favorite off-market strategies and the way he gets most of his leads

Finding the “price behind the problem” so you can close on more deals

Forming partnerships with real estate brokerages as a wholesaler

The high costs of running a wholesaling team

What sets apart gurus and gimmicks from real, honest coaches

And SO much more!

Links from the Show

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

Tony Robbins

Facebook Marketplace

Darrin Damme of Bullseye Branding

Check the full show notes here: http://biggerpockets.com/show480

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

479: 10 Powerful Lessons Brandon Learned Building a $50M+ Rental Portfolio Jun 20, 2021

We all reach a point of complacency. We tell ourselves that we’ve done enough, it’s too hard to go further, or we don’t have enough experience, money, or time to accomplish the goals that seem impossible. Brandon Turner, host of the BiggerPockets podcast, was feeling this way too, sitting on a decade worth of real estate, with enough passive income to live his life how he saw fit. It wasn’t until Brandon started surrounding himself with people who did much more than him that he realized he wasn’t hitting his true potential.

Now, leading the real estate syndication Open Door Capital, Brandon has more than 10x-ed his rental portfolio, built a life he loves in Maui, and worked with some of his heroes. This wasn’t by accident, it also wasn’t dropped into his lap. Brandon spent serious time thinking about his “vivid vision” of the future, what he wanted out of life, and who would help him get there.

He’s had ups and downs, with some of his favorite employees leaving, partnerships falling through, and deals being lost. All of these proved to be valuable lessons in his ongoing work to create a mobile home empire and become the best of the best at what he, and his team, does.

In This Episode We Cover:

The 10 lessons Brandon learned starting Open Door Capital

Why it’s crucial to have a goal for your life and shoot towards it

Understanding when you’ve become complacent and finding inspiration

Giving up more to work with partners who will bring you far, far greater returns

Working for your employees and doing anything you can for their success

How coaching allowed Brandon to open up his mind to huge possibilities

Using a “Hunger Games” style recruiting technique when finding new talent

And So Much More!

Links from the Show

BiggerPockets Membership

BiggerPockets Book Store

BiggerPockets Podcast 403: Developing a Millionaire’s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason Drees

BiggerPockets Podcast 369: Escaping the Day-to-Day Grind to Work on Your Business with Jefferson Lilly

BiggerPockets Podcast 246: Surviving the Coming Crash, Earning 20% Returns, and Buying Mobile Home Parks with Kevin Bupp

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

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

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

Pre-order Multifamily Millionaire by Brandon Turner and Brian Murray

https://www.biggerpockets.com/show479

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

477: Discomfort & Uncertainty Lead To Victory w/ BJJ Black Belt Ryron Gracie Jun 13, 2021

What happens when you’re pinned to the floor in the middle of a fight? Someone has you in a locked position and you can’t move. You’re sweating, you’re angry, and you start feeling the will to fight flow through your whole body. Although we’re talking about Brazilian Jiu-Jitsu with the legendary trainer and black belt, Ryron Gracie, we could easily be talking about real estate.

So many new real estate investors come into this space being scared of discomfort, wanting to be hand-held, and feeling like there is no way to hit their investing goals. That is until they’re put in the proper position, scenario, or matched up with a great teacher. These are the exact lessons that Ryron shares with us today.

As a lifelong Jiu-Jitsu practitioner, and now a teacher himself, Ryron knows that the same lessons applied on the mat should be applied in everyday life. Lessons like: be comfortable with discomfort, never get pulled into anyone else’s fight, and change the game to fit your needs. This not only makes Ryron a financially successful individual, but a master in martial arts.

Even if you’ve never done martial arts, had any interest in Brazilian Jiu-Jitsu, or started real estate investing, this episode will help you change your mindset to thrive in situations where you feel lost and helpless, which is something all of us need throughout our lives.

In This Episode We Cover

“Emotional Jiu-Jitsu” and how to find comfort in difficult conversations

Taking the fight to the ground and changing the game

The crossovers between martial arts and building wealth through real estate

Putting your ego and insecurity to the side and doing what’s truly best for you

Realizing when you’re coming from a place of lack

And So Much More!

Links from the Show

Gracie University

Check the full show notes here: http://biggerpockets.com/show477

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476: Using Partners to Scale & Killing it With Airbnbs w/ Tony J Robinson Jun 10, 2021

Normally we have two hosts and one guest, but today we have three hosts, and one of them happens to be a guest as well. We welcome Tony J Robinson, host of the BiggerPockets Real Estate Rookie Podcast, to the show! Tony has grown a respectable following due to his impressive short-term rental portfolio, his ability to scale quickly, and his made-for-radio voice.

Tony grew up with real estate around him. His dad had a wholesaling company, and when it closed down his father relayed to Tony that his biggest mistake was failing to keep any of the wholesale deals as rentals. With this advice in mind, Tony saw an opportunity to fix up some rental properties in Louisiana. This gave him an intro to real estate funding, and after a few successful deals, he decided to dive in head first.

Now, Tony has short-term rentals in Tennessee and Joshua Tree. He’s started multiple partnerships and speaks on the benefits of having reliable, trustworthy partners, plus how to avoid toxic partnerships that will stop you from scaling. He also lets us in on his free and simple method of finding out whether or not a market will work for short-term rentals.

In This Episode We Cover:

The importance of having cash-flowing passive income
Why you should never treat a rental like your primary residence
Buying in markets that are heavily reliant on tourism
How to make a strong, stable, and reliable partnership
The risk vs. rewards of short-term rentals
Long-distance real estate investing as a rookie investor
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show476

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475: 50x Your Revenue By Focusing on ROR (Return on Relationships) with John Ruhlin Jun 06, 2021

You wouldn’t think that a farm boy from Ohio would be spending hundreds of thousands if not millions on expensive clothing, high-priced whiskey, and expensive knife sets, would you? Only, he’s not buying these things for himself, he’s buying them for his clients, many of whom are some of the biggest names in business and entertainment. What does John Ruhlin from Giftology see in gift-giving that we don’t?

First, John realized that giving regular corporate gifts, like a stress ball or a free pen, wouldn’t cut it when trying to build long-term relationships. He even went as far as to get courtside NBA tickets paired with a $500 steakhouse dinner to get Cameron Herold (a past guest of ours) on his team, only to find that Cameron was severely disappointed. So he started turning up the personalization of his gifts.

Now, John sends out personally engraved knife sets, world-class food and wine pairings hosted by the best sommelier in the country, and video messages sent in physical boxes (seriously). He’s discovered the art and the science behind gift-giving and wants everyone to know what is, and isn’t an appropriate gift. As he puts it, you need to focus on your ROR (return on relationships) more than your ROI.

In This Episode We Cover:

The gifts you SHOULD NOT give to those you want to impress
Focusing on ROR (return on relationships) as opposed to ROI
Have a “relationship plan” in place for clients, employees, and partners
Using personalized gifts to stick out from the competition
Taking a warm lead and turning it into a burning fire
The best gifts to give based on the occasion, timing, and relationship
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show475

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474: How this Busy Mom of Three Bought $75M of Real Estate w/ Pili Yarusi Jun 03, 2021

Letting go of something successful isn’t easy, but what if you know it’s costing you your dreams? Today we talk to mother, real estate agent, and massive multifamily investor, Pili Yarusi, about doing what it takes to stay focused, engaged, and on top of your life.

Pili moved out to New York from Hawaii with dreams of becoming a star in theater but ended up working as a bartender. Lucky for her, bartending is where she met her husband and future business partner. Together, they started flipping houses, which taught her not only to systematize investments but also to use her creativity in an efficient way. She and her husband later expanded into wholesaling.

Pili knew something was missing and she wanted to focus more on growing a multifamily portfolio. With help from some mentors, she realized that the main thing holding her back was her current (and very successful) flipping and wholesaling business. She closed both businesses, got herself systematized, and went head first into multifamily.

Now this homeschool teacher/mom is sitting on $75,000,000 in real estate, totaling in at 850 units. No small number by ANY means! She gives some incredible advice on what new investors need to do before they can reach their goals of owning big portfolios.

In This Episode We Cover:

Limiting your creativity (in a good way) when doing flips and rehabs
The 4-3-2-1 principle and waking up with A.L.O.H.A
Identifying as the person you want to become, and letting go of less useful identities
The right (and the wrong) way to train employees and build a team
506b vs 506c syndications, plus what to know if you want to start one
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show474

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473: Quitting the Police Force, Wholesaling, & Buying Notes with David Greene May 30, 2021

There is only one man on the podcast today that has a beard, and no, it’s not the guitar-playing, surfing, 7-foot tall one. David Greene is “seeing Greene” in this episode and gives new and experienced investors advice and answers on their questions. We go through a range of subjects from real estate notes, quitting a W2, scaling, and whether or not to start a property management business.

With David’s experience as a W2 police officer, agent, broker, investor, and lender, he can give all kinds of great answers related to real estate. So whether you’re a newbie trying to get your first deal done or an experienced landlordclosing on a new house every week, there is probably some question David answers that can help you out!

All of these questions have been asked by BiggerPockets listeners either via video or from Facebook. If you weren’t able to get a question answered by David this time, you can submit a question at this link.

In This Episode We Cover:

Purchasing a property from a wholesaler
How to place properties under an LLC once purchased
Is land worth pursuing or should you stick to properties?
When is the right time to quit your W2 and pursue real estate
Can you 1031-exchange a flip into a buy and hold rental?
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show473

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472: Here’s What You SHOULDN’T Do When Long-Distance Investing May 27, 2021

Nick Lamagna wasn’t planning on getting into real estate investing. When he finished college he knew that he wanted to go into law enforcement to help with counter-terrorism. He scored well on all the tests needed to be a great candidate for his dream job, but when he suffered a permanent hand injury, he was disqualified from working in law enforcement.

During a period where Nick didn’t know what he was going to do, his mom forced him to read Rich Dad Poor Dad, which (like many of our listeners) changed his view on making money and having a career. After the initial interest was sparked, Nick started tackling real estate deals outside of his native state of New York.

He faced challenges with getting mortgages, so he partnered with other real estate investors. He needed more cash, so he started wholesaling. The 2008 housing market crash happened, so he decided to start flipping. And now, Nick is going into bigger deals like commercial real estate and mobile home parks.

Nick’s advice to new investors: think creatively, get comfortable with being uncomfortable, be in constant contact with your team, and don’t stick to one strategy.

In This Episode We Cover:

Long-distance real estate investing when your local market is too expensive
Building a buyers list for wholesaling and networking
Partnering with others who can finance real estate purchases
Why communication is key when doing long-distance renovations
Turning your weaknesses into your greatest strengths
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show472

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471: What Michael Jordan and Kobe Taught Tim Grover about "Winning" May 23, 2021

We like to think that we have a lot of winners on the BiggerPockets Real Estate Podcast, whether they are in real estate or not. We may have one of the biggest winners on today's show. Tim Grover, trainer to Michael Jordan and Kobe Bryant joins us to talk about overcoming adversity, developing a winning mindset, finding what makes you fail, and his new book, accurately titled Winning: The Unforgiving Race to Greatness.

Tim argues that one of the hardest things to succeed in is business since there are so many factors that influence success. When you own or run a business, you’re constantly being thrown curveballs (like a global pandemic tied with government shutdowns). So how do you succeed when there is a constantly changing game plan? You adapt, you overcome, and you mitigate failure.

These are the exact lessons that Tim taught to his high-profile clients, like Michael Jordan and Kobe Bryant, arguably the two greatest basketball players of all time. Before MJ and Kobe became the best, they had to master being average, then being good, then being great. So many people want to take shortcuts to greatness, not understanding that mastering those different levels is what truly puts you on a different stage than those who master the average level and give up.

In This Episode We Cover:

What really holds people back when they say they want something
Focusing on recovery and health before trying to up your abilities
Becoming a constant reminder to others to win and shoot for success
How to stop performing with emotion and start performing with energy
Stop confusing “finishing” with “winning”
Struggling with balance when succeeding in your career, family life, or anything else
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show471

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470: The 7 Tips @investorgirlbritt Used to Go from Amateur to Pro Investor May 20, 2021

There has been a great feud between Brittany Arnason and Host of the BiggerPockets Podcast, Brandon Turner. Both of them have done lots of renovations on houses, secured millions in funding, and live right next to the beach in Maui, but only one of them has won a “quickest person to get to 200,000 followers on Instagram” battle. We’re happy to have the winner on our show as a guest today!

Brittany started out her real estate journey when she was 18 years old, buying her first rental property and tackling a multitude of different DIY projects. If you haven’t heard her story, you can check it out on episode 320. Now she’s back to talk about how she moved to Maui, hired out her employees, secured funding on commercial deals, and used social media to get her deals and connections.

Her biggest advice to new investors, “jump in before you’re ready”. You won't ever have all the answers, but those who get started will finish far ahead of those who always dream about being an investor. You can also help ease the stress and unforeseen speed bumps by getting in groups with other investors, following those you look up to on social media, and becoming a resource for future mentors.

In This Episode We Cover:

Using social media to find deals, mentors, employees, and friends
Generating leads in unorthodox ways
Fighting back against imposter syndrome and seeing your strengths
Getting super cheap interest rates when closing on commercial mortgages
Why the bigger deals tend to be the more passive ones
Why whatever you believe can end up being true
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show470

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469: Why Do Investors Lie to Themselves? +More Audience Q&A (Part 2) May 16, 2021

We interview a lot of great guests on our Sunday episodes of the BiggerPockets Real Estate podcast, but we rarely hear from agents, investors, and BiggerPockets listeners who are in an early stage of real estate success. Both Brandon and David know what it’s like to be grinding, day in and day out, to get your real estate business off the ground. That’s why they’re here today to answer questions from live listeners about mindset, mentality, and growth.

We talk to Brody, Joseph, Wale, and Mike, all in different stages of their real estate journey, and all very committed to success! You’ll hear questions like:

If given the chance to go back, what would Brandon and David do differently?
What deserves more emphasis, mindset or skill set?
Is it okay to explore different opportunities at an early stage of investing?
How to find balance when SO many opportunities are exciting?
How do you make time for family, a job, side businesses, and real estate?
Why do investors lie to themselves?

Thanks again to our guests for coming on and throwing such great questions at Brandon and David!

In This Episode We Cover:

Leaving your W2 job to pursue real estate and other opportunities
How to harness your mindset to grow your specific skill set
The power of house hacking, and how it pushes your portfolio forward
Scaling bigger and faster (even if it’s scary)
Developing the ability to adapt, so you can survive any situation
How to stop making promises that you’ll fail to uphold
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show469

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468: You Asked, Brandon and David Answered: Real Estate Q&A (Part 1) May 13, 2021

Last time we did a live Q&A, fans from all over came on to ask questions to Brandon and David. Now we’re back, answering the questions that BiggerPockets Real Estate Podcast fans have on their minds. We’ll go over a handful of questions, all from different investors in different parts of their real estate journey. Questions include:

How can investors offload their unwanted properties to charities?
How do I stop analysis paralysis even after so much research?
Is it a good idea to buy in an area with a falling population?
What metrics should I look for when scaling my portfolio?
What’s the best niche to build wealth fastest?
Plus other commonly asked questions

Thanks again to our guests Nicole, Michael, Ryan, Owen, and Emily for throwing their great questions at Brandon and David!

In This Episode We Cover:

The biggest regret that most real estate investors have
Scaling to bigger and better deals (with higher unit counts)
Finding a mentor who can push you to accomplish BIG deals
Using other people’s money to build your real estate portfolio
The best niches for newbie investors to start out in
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show468

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467: #1 NYT Bestselling Author Adam Grant on the Need to “Think Again” May 09, 2021

Everyone wants to be right all the time. We have so many preconceived notions running through our heads at all times, and we always think that we’re the ones standing on the right side of history. What if that train of thought was secretly pushing you to failure, or even death? Adam Grant argues this point in his book Think Again.

Adam hypothesizes that the main reason so many businesses, relationships, and experiments fail is because those in them tend to be locked in on one view. How many times have you been in a fight with your partner where you realize you maybe wrong, but also realize it would be worse to back down from your original stance?

This is how businesses like Blockbuster and Blackberry slowly faded away while the likes of Apple and Microsoft flourished. Adam talks through some of the best (and worst) moments in business history when companies thought they were too big to fall. The same goes for political candidates, social movements, and almost any other type of human-to-human interaction. The one way you can be sure you’re coming out with the right conclusion? Think like a scientist!

In This Episode We Cover:

The preacher, prosecutor, and politician mindsets
Valuing humility over pride and stopping your ideas from becoming your identity
How ego, image, and regret play into the way we act
Blackberry vs Apple and how Steve Jobs made the right decision
Why you should give people FEWER reasons to back up a proposal
Why “super forecasters” will never let a bias persuade them
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show467

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466: Buying “Lottery Ticket” Investment Properties with Alan Corey May 06, 2021

Alan Corey has had an interesting career to say the least. He’s been an IT worker, a comedian, an author, a real estate investor, and even a reality TV star. Alan has always been fascinated with making passive income in a frugal, but very intelligent way. He’s so frugal in fact, that he made up a crazy story to be on the Jerry Springer show, just to get a free trip to Chicago out of it. Talk about being committed!

Alan’s real estate story starts off with buying a 1 bedroom apartment in Brooklyn, New York, hanging up a curtain in the living room, and house hacking. He then repeated this strategy over and over again, becoming a millionaire before 30 years old, with a lot of property and “good debt”. Alan is part of the FIRE (financial independence retire early) community, but instead of investing mainly in stocks, he does so in real estate.

His strategy is simple: buy a rental property for every bill you have, then start inventing “fun bills” as excuses to buy more rental property. Whether you’re looking to pay off your phone bill every month, or finance your brand new Tesla, this strategy will work for you. Alan also “hides money from himself” so he can be better off in the future. Right now he’s sitting on around $8,000,000 of real estate solely from his own investments.

His new book House FIRE teaches you everything you need to know about retiring early with real estate!

In This Episode We Cover:

Chasing financial independence and early retirement with real estate
Taking on “good debt” so you can grow you real estate portfolio faster
Thinking of each property you buy as a “lottery ticket”
Alan’s books: A Million Bucks By 30 and House FIRE
The danger of high-interest consumer debt (like credit card debt)
Seller financing and zero cash-flow triple net leases
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show466

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

465: How Ryan Serhant Uses "Big Money Energy" To Make Millions May 02, 2021

If you don’t feel amped up to accomplish your goals, you definitely will after this episode. Today we talk to real estate agent, entrepreneur, author, and Million Dollar Listing New York star, Ryan Serhant. You’ve probably seen Ryan selling ridiculously nice (and expensive) homes on TV, but today you’ll be the private audience to hear his backstory, his work ethic, and how he developed his big confidence.

Ryan moved to New York to become the next big star in theatre, but after seeing the financial position of those “successful” actors he looked up to, he made a pivot. Ryan got his real estate license and started listing apartments to pay his bills, but was given a golden opportunity when an foreign buyer specifically chose him to find her next multi-million dollar home in New York City. Ryan still remembers the lack of confidence he felt when he got the listing, and knew the only thing to do was educate himself and practice his pitch. Long story short, he helped the buyer find her dream home, and the rest is history.

You’ll hear Ryan talk about the importance of confidence, not only in this podcast, but in his new book Big Money Energy. Brandon and David both agree with Ryan on how important, and often undervalued, having confidence is. Not just confidence in your work, but confidence that you’ll be able to accomplish the most challenging tasks you set for yourself!

In This Episode We Cover:

Selling the most expensive home in Florida
Using the pandemic to springboard a new career or venture
Taking on a task, developing the confidence, and succeeding
Leaning to own the things that make you different from everyone else
Stop focusing on the deals and start focusing on “the work”
Many, many multi-million dollar deal stories
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show465

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464: Scammed, Cheated, But Still Coming Out with 50 units with Welby Accely Apr 29, 2021

Many, many people give up on real estate after just one bad deal, one bad tenant, or one bad flip. But what if you lost all you had from real estate deals, would you still be willing to bet on real estate? What if you lost it all twice? Welby Accely, has been in that position. He lost all he had, two separate times through dicey real estate deals. He never did give up on real estate, and now he’s sitting on 50 rentals and over 70 completed flips.

Welby grew up in Brooklyn, and knew that his godfather was doing well in real estate, so when he got older, he decided to give it a shot. He invested in a multifamily deal in Atlanta, overleveraged himself, and had it foreclosed on him. A few years later, he had another Atlanta property taken from home. Welby was wiped out. He got scammed, lied to, and dove in too deep a couple times.

After these tough experiences, he knew he had to do whatever he could to make sure his due diligence was top notch. He was later told about Connecticut, and decided to take some serious time exploring the market, building relationships, and networking. Then, he started flipping. 1 house a year, 2 houses a year, then 15 houses a year, and now 20 houses a year.

Now, Welby takes young and aspiring real estate investors on “ride alongs” so they can see exactly what it’s like to be a real estate investor!

In This Episode We Cover:

How crucial it is to understand your market before you invest
Never trusting a new partnership without proof of concept and contracts
Pulling yourself back up after losing tens of thousands of dollars
Putting in offers everyday so you can secure a deal
Hard money loans vs. using your own capital
Helping build other’s businesses so they stay loyal to yours
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show464

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463: How to Get Your First or Next Property (Step-by-Step) in 90 Days Apr 25, 2021

We often have famous guests come on the BiggerPockets podcast and talk about their deals, their businesses, and their journey. Today you’ll hear from one of the biggest real estate celebrities, Brandon Turner, as he goes through the 90-day challenge, preparing you to buy your first (or next) real estate deal in the next 90 days.

You’ll hear Brandon’s story on why he went into real estate, how he grew his portfolio, and the exact steps he took to reach financial freedom and grow his portfolio to over 1,000 units! We’ll go through developing a real estate strategy, picking a niche, finding your “why”, finding a deal, marketing, financing, and calculating a real deal live on the (pre-recorded) webinar!

This is the hand-down best place to start as a newbie investor or an investor who just wants to grab some more deals in the next 90 days. These actionable steps have helped hundreds of investors across the BiggerPockets forums, and can help make you a successful real estate investor sooner!

In This Episode We Cover:

Discovering your “why” behind investing, real estate, financial freedom
How to find deals even in competitive markets
Going over a live deal using the BiggerPockets rental property calculator
How to find your “home run number” that makes a deal great
Using the L.A.P.S funnel to never run out of deals
Financing and funding your first property (even with no or low money down)
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show463

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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!

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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!

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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:

Pacific North West Real Estate Wealth Expo

BiggerPockets Webinar

Monkeypod Kitchen

BiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber