BiggerPockets Real Estate Podcast

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Latest Episodes:

260: The Ultimate Guide to Negotiating (for the Negotiation-Averse) With Former FBI Hostage Negotiator Chris Voss Jan 04, 2018

Show notes

Bank robbers. Terrorists. Motivated sellers. No matter who you’re dealing with, negotiation is vital. As a real estate investor, the question is not if you’ll negotiate but how well will you negotiate—and after this episode, you’ll never negotiate the same again. Today, we’re excited to sit down with Chris Voss,former head of the FBI’s Hostage Negotiation Team and author of Never Split the Difference, to learn the stories, strategies, and tactics gleaned from decades of negotiating with the world’s most dangerous criminals. Then, we delve into how these lessons can help you in your own business and life. This show is a ton of fun and full of actionable tips that will instantly make you a better negotiator—whether sparring with your child, a buyer or seller, or a terrorist holding your family for ransom!

In This Episode We Cover:

A look at Chris’s background
The story of the bank robbery in Brooklyn
What the strategy of mirroring is
What it means when a person doesn’t give his name
How to use listening as an advanced skill
Tips for applying negotiation to business settings
The role negotiating plays in real estate
The thing more important than the deal in negotiation
The secret to gaining the upper hand in a negotiation
Tips for negotiating in a real estate deal
The power of deference
What you should know about anchoring
How to take advantage of rounds of bargaining
Why you should consider odd number pricing
Why no is more powerful than yes
The learning curve for this skill
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
Never Eat Alone by Keith Ferrazzi
Never Split the Difference by Chris Voss
The 7 Habits of Highly Effective People by Stephen Covey
Getting to Yes by Roger Fisher
The Rise of Superman by Steven Kotler
U2 by U2 by U2 & Neil McCormick

Tweetable Topics:

“If you want big stakes results, you need to practice in low stakes negotiation.” (Tweet This!)
“The last impression is a lasting impression.” (Tweet This!)
“There’s always something in a negotiation for everybody that is more important than actually making a deal.” (Tweet This!)
“You get what you want by hearing the other side out.” (Tweet This!)
“The secret to gaining the upper hand in a negotiation is giving the other side the illusion of control.” (Tweet This!)

Connect with Chris

Chris’s Newsletter

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259: Old-School Investing Wisdom from 60+ Years with Mike Anderson Dec 28, 2017

Show notes

One of the most impactful moments for most real estate investors is meeting a “mentor,” someone older and wiser who can share with them the lessons they’ve learned. That’s exactly what today’s episode of The BiggerPockets Podcast is! Mike Anderson has invested in real estate for over 60 years, doing everything from buying 200 houses per month to owning a mortgage business to storage units and more. On today’s show, he dives into his story and the lessons he’s learned over the past half-century and offers insight and wisdom that newer investors need to hear. This conversation is fun, fast-paced, and filled with knowledge, so hang on for a wild ride!

In This Episode We Cover:

The story of buying a house for $3,250 (55 years ago)
How to buy and sell 200 houses a month
What he’s learned about people buying houses
Why you should buy rentals in school districts
A discussion on cash flow vs. appreciation
The concept of “dialing for dollars“
Why it’s all a number’s game
Things to note when buying from wholesalers
The usual problems with investors
Where to get the money for deals
Why perseverance is key
How to hire the right people
How to continue buying 10 or more houses (and get bank financing)
Why he’s concerned about the future
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki

Tweetable Topics:

“The essential thing to make money is hard work.” (Tweet This!)
“Don’t worry about commissions; worry about your customers.” (Tweet This!)
“How are you going to buy real estate if you don’t know what your goal is?” (Tweet This!)
“It doesn’t cause cancer to call people on the phone.” (Tweet This!)

Connect with Mike

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258: Six-Figure House Flipping with Gabe DaSilva Dec 21, 2017

Show notes

Massive goals encourage massive action—and a massive plan to get there. That’s the truth behind today’s episode of The BiggerPockets Podcast, where we sit down with Gabe DaSilva, a New Jersey real estate investor who specializes in a unique niche of house flipping: “add-a-level” or “pop tops.” You’ll hear how Gabe shoots for a six-figure payday on each flip and how you can incorporate this strategy in your own business. Be ready to take some notes—this is an action-packed show!

In This Episode We Cover:

How Gabe got into the real estate business
Tips for using your 401k as capital
How he landed his first deal
A discussion on doing things yourself
How to finance your deals using hard money
Gabe’s unique definition of hard money lenders
The deals he’s made to this point
Which properties are good candidates for rehabbing
How to tell if it’s the right market to invest in
What to check for in a good house foundation
The “bathtubs story“
How to find deals through direct mail
What his day looks like
And SO much more!

Links from the Show

Books Mentioned in this Show

A Curious Mind by Brian Grazer
The Book on Estimating Rehab Costs by J. Scott
Set for Life by Scott Trench
Rich Dad Poor Dad by Robert Kiyosaki
The E-Myth by Michael E. Gerber
Think and Grow Rich by Napoleon Hill

Fire Round Questions

Tweetable Topics:

“Sacrifice the life you have now so that you can live the life most can’t live later.” (Tweet This!)

Connect with Gabe

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257: But My Market is Too Expensive!” (How to Become a Long-Distance Real Estate Investor) with David Greene Dec 14, 2017

Show notes

Investing outside of your local market can strike fear into the hearts of even the most savvy real estate investor. But long-distance investing doesn’t need to be extra risky! In fact, today’s guest argues that it might just be the most profitable investing you’ll ever do. Today’s guest, David Greene, a San Francisco real estate investor and agent, shares his incredible process for finding, rehabbing, and managing properties from thousands of miles away. His approach to building a “Core Four” is nothing short of genius and will transform how you run your real estate business, whether you are buying next door or 49 states away. This is one show that could change your real estate strategy forever!

In This Episode We Cover:

What David’s been up to since the last time he was in the show
How to find the right people to help you find the right properties
How to seek out top-notch lenders
Tips for offering value to people hundreds of miles away
A discussion on whether newbies can invest long distance
The “Core 4” team members you’ll need when investing in real estate out-of-state
David’s thoughts on turnkey companies
How to overcome the fear of trusting someone you work with
All about David Greene’s new book!
And SO much more!

Links from the Show

Books Mentioned in this Show

A Curious Mind by Brian Grazer
The ONE thing by Gary Keller and Jay Papasan
The 4-Hour Workweek Tim Ferriss
The Millionaire Real Estate Agent by Gary Keller
The Richest Man in Babylon by George S Clason
Principles by Ray Dalio

Fire Round Questions

Tweetable Topics:

“I’m putting a dream team together that runs on autopilot.” (Tweet This!)
“The market itself is not quite as important as the success you’ll likely have in that market.” (Tweet This!)
“It’s only risky if you’re lazy.” (Tweet This!)
“You’re not going to make money right away when you start first doing anything new. It’s only going to be what you learn that will make money later.” (Tweet This!)

Connect with David

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256: The Surprising (Scientific) Truth Behind What Makes You Successful with Eric Barker Dec 07, 2017

Show notes

Why do some people achieve incredible success while most others struggle? Why do some reach their goals while others give up within days of setting them? Why do some people make WAY more money at work while others are stuck in the mailroom for 40 years? Those topics, among many others, are the focus of today’s episode of The BiggerPockets Podcast, where we sit down with Eric Barker, author of the WSJ bestseller Barking Up the Wrong Tree: The Surprising Science Behind Why Everything You Know About Success Is (Mostly) WrongW. Eric spends his life exploring the science and psychology behind what actually makes an individual successful, and today we explore those often-surprising truths as they relate to real estate, business, and all areas of life!

In This Episode We Cover:

Eric’s background
What you should know about his book
How to align yourself with what you’re good at
The issue of grit
The “3 Ps” (personal, permanent, and pervasive)
The secret to forming habits
How to create external accountability
A discussion on systems vs. goals
What you should know about introverts vs. extroverts
How financial success can serve as a great defense
Tips for not taking the day for granted
How to become a super connector
What makes somebody successful at work
What “work-life balance” truly means
The 4 metrics of success
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets’ Low Budget (Youtube Series)
BiggerPockets Youtube Channel
Stickk
Fincon
Noah Kagan
Marginal Revolution
Ryan Holiday
Tim Urban’s Wait but Why?
Josh Kaufman
The Vietnam War
Icarus Netflix Original
The Armstrong Lie
Command and Control
The Bomb
Gym Pact App

Books Mentioned in this Show

Barking Up the Wrong Tree by Eric Barker
The Miracle Morning by Hal Elrod
The One Thing by Gary Keller and Jay Papasan
Deep Work by Carl Newport
The Personal MBA by Josh Kaufman
Drive by Dan Pink
The Hard Thing About Hard Things by Ben Horowitz
Give and Take by Adam Grant

Tweetable Topics:

“The single most motivating thing is the feeling of progress.” (Tweet This!)
“The importance of the habit is consistency.” (Tweet This!)
“In the end, it’s generally better to set up systems as opposed to goals.” (Tweet This!)
“There is no fear with boredom.” (Tweet This!)

Connect with Eric

Eric’s Blog

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255: Six-Figure Real Estate Investing in Just 20 Hours a Week with Elliot Smith Nov 30, 2017

Show notes

How many hours per week does it take to be a successful real estate investor? The answer on today’s episode might surprise you. Today we’re sitting down with Elliot Smith, a real estate investor from Washington State who has an incredible story to tell about how he went from 70+ hour per week worker to “full-time” real estate investor who only works part-time. Elliot has an incredible outlook on life and business that’s contagious, so warning—you won’t leave this interview the same person. You’ll also learn how Elliot and his wife made over $100,000 their first year in real estate and the amazing tale of how they made over $100,000 in a single month. This show is as inspirational as it is educational (and filled with more than a few laughs!) so get ready to have your world rocked.

In This Episode We Cover:

How Elliot got started real estate investing
Whether you should do house inspections
Their next deals and a great wholesale deal
How to wholesale with a full-time job
The importance of being honest with your sellers
What exactly wholesaling entails
How he made $100k in just one month!
How to invest part-time and earn full-time
Tips for building relationships with private lenders
Advice on flipping with no money down
Tips on finding a mentor
How to do 30 deals a year
How Elliot finds deals
His way of making the world better
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Rental Property Investing by Brandon Turner
Finding and Funding Great Deals by Tarl Yarber
Investing with Low or No Money Down by Brandon Turner
The Millionaire Real Estate Investor by Gary Keller
Pitch Anything by Oren Klaff

Fire Round Questions

Tweetable Topics:

“If you’re asking if you need an inspector, then you need one.” (Tweet This!)
“It all has to do with the intent. Is your intent to screw this person or is your intent to do the right thing?” (Tweet This!)
“You’ll find really good people in this business who just love people and love helping.” (Tweet This!)
“Money is not the most important thing. Friendship and relationships are the most important thing in this business.” (Tweet This!)

Connect with Elliot

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254: Tim Ferriss on Real Estate, Becoming a Top Performer and His Tribe of Mentors Nov 23, 2017

Show notes

Today’s guest needs no introduction, but this would look funny without one, so here we go! Today on The BiggerPockets Podcast, we sit down with Tim Ferriss, author of #1 New York Times Bestseller The Four Hour Work Week and his newest title, Tribe of Mentors and dive DEEP into the patterns that make high achievers accomplish so much. This show is unlike any other episode of our podcast, and we can’t guarantee you’ll be the same person when you finish. You’ll also discover Tim’s unique approach to real estate investing, as well as the books, apps, and routines that has made Tim one of the most influential thought leaders in our world today.

In This Episode We Cover:

How the gang connected with Tim
Whether his mom would be impressed by his accomplishments
Why he walks to the beat of his own drum
His recent “silent” retreat
The value of meditation
What you should know about self-awareness training
The ins and outs of the book Tribe of Mentors
Patterns that are common amongst high achievers
The importance of turning off distractions
Principles to live your life by
How to be truly effective
Tips for using money to buy time
The 3 advantages that you can have in any type of investing
How Tim Ferriss invests
What a good investment entails
Indicators of a solid property
How Tim would analyze real estate
The fundamental differences in real estate as an asset class
The “worthlessness” of hard work
How to balance ambition and being contented
And SO much more!

Links from the Show

Books Mentioned in this Show

Set for Life by Scott Trench
The Book on Rental Property Investing by Brandon Turner
The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han
The Book on Flipping Houses by J. Scott
Finding and Funding Great Deals by Anson Young
The 4-Hour Work Weekby Timothy Ferriss
The 4 Hour Body by Timothy Ferriss
The 4-Hour Chef by Timothy Ferriss
Tools of Titans by Timothy Ferriss
Tribe of Mentors by Timothy Ferriss
Young Millionaires by Rieva Lesonsky
Man’s Search for Meaning by Viktor Frankl
Poor Charlie’s Almanack by Charles T. Munger
The Better Angels of our Nature by Steven Pinker
Principles by Ray Dalio
Warren Buffett Speaks by Janet Lowe
Richest Man in Babylon by
The Radical Acceptance by Tara Brock
Berkshire Hathaway Letters to Shareholders
More Money Than God by Sebastian Mallaby
Liar’s Poker by Michael Lewis
Lifeonaireby Steve Cook
Rich Dad Poor Dad by Robert Kiyosaki

Tweetable Topics:

“I don’t like having my sanity depend on luck.” (Tweet This!)
“When you’re not thinking of the past, you’re not thinking of the future.” (Tweet This!)
“It’s not that you don’t have time, it’s you don’t have priorities.” (Tweet This!)
“It’s not how you do things, it’s what you do.” (Tweet This!)
“Effectiveness over efficiency on all things.” (Tweet This!)
“Thinking is actually asking questions and answering them in your own head.” (Tweet This!)
“There’s no problem with hard work, as long as it applies to the right things.” (Tweet This!)
“In the end, success is sleeping well.” (Tweet This!)
“Worrying is praying for what you don’t want.” (Tweet This!)
“It’s very hard to fail completely.” (Tweet This!)

Connect with Tim

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253: Recession-Resistant Investing & the Benefits of Buying Shopping Centers with David Puchi Nov 16, 2017

Show notes

Most of the guests here on the BiggerPockets Podcast have focused on residential properties—but there is a whole different world to explore in the commercial real estate space. That’s why we’re thrilled to bring you this powerful interview with an investor who’s truly crushing the commercial real estate industry! Our guest today is David Puchi, an investor who owns more than 50 neighborhood shopping centers (“strip malls”) throughout the United States. David tells how he built this massive portfolio and why he believes it is one of the best real estate niches to be a part of. This show will open your eyes to an exciting world you never knew existed.

In This Episode We Cover:

How David started real estate investing
Why he brought a bank guarantor partner into his deal
How he turned a shopping mall around
What the “Amazon proofing strategy” is
What he looks for in commercial properties
The challenges of this strategy
Who to hire to start investing in shopping centers
What synergy is in reference to tenants
How one tenant can affect the whole center
A passive way to invest in triple net properties
Tips on how to finance these deals
Where he finds his deals
How to analyze a neighborhood for shopping malls
Tips for performing due diligence for this kind of deal
The metrics you should study to figure out the health of a tenant
Where he sees his business in the future
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Rental Property Investing by Brandon Turner

Fire Round Questions

Tweetable Topics:

“Having reasonable leverage makes more sense than over leverage.” (Tweet This!)
“Basic property management experience is a great launching pad in owning commercial properties.” (Tweet This!)
“You can’t rely on the market to force appreciation.” (Tweet This!)

Connect with David

David’s Company Website

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252: House Hacking (Your First Deal) & Life Hacking with Craig Curelop Nov 09, 2017

Show notes

People spend years thinking about buying real estate—but many never take the first step. Not today’s guest, though! Today, we sit down with Craig Curelop, a new investor in the expensive Denver market, as he shares his story of buying his very first “house hack” and how’s he’s actually getting PAID to live for free. You’ll also learn some other creative way Craig is generating extra income each month (including renting out his car!) on his quest for financial freedom. It’s a super inspiring story with a plethora of tips, so don’t miss a moment of it!

In This Episode We Cover:

Craig’s story and how he found out about BiggerPockets
What he does at BiggerPockets
How he house hacked his first home in Denver
Tips for finding a good agent
How to find a good lender
What exactly PITI is
How he’s generating rent from his place
His method of fast tracking his way to financial freedom
How his Airbnb system works, including how he handles cleaning
Tips for turning liabilities to assets
How he rents out his car
A discussion on having a frugal lifestyle
His future plans for real estate investing
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Rental Property Investing by Brandon Turner
Set for Life by Scott Trench
The 10x Rule by Grant Cardone
The One Thing by Gary Keller
Rich Dad Poor Dad by Robert Kiyosaki
Never Split the Difference by Chris Voss
The Four Agreements by Don Miguel Ruiz &? Janet Mills

Fire Round Questions

Tweetable Topics:

“The first step to buying a property is to find a lender and to find an agent.” (Tweet This!)
“To find the lender that’s right for you, you have to have the criteria you’re looking for.” (Tweet This!)
“Everyone has a unique advantage in their life.” (Tweet This!)

Connect with Craig

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251: Replacing Your Income with Real Estate as a DIY Landlord with Eric Drenckhahn Nov 02, 2017

Show notes

How do you build up an arsenal of relevant landlording knowledge? Through hands-on experience. Eric Drenckhahn is a “DIY landlord” who has managed his mid-sized portfolio for years and who has come across countless maintenance and landlording issues. Join us in picking his experienced mind across a myriad of real estate issues and learn how to become a successful DIY landlord.

In This Episode We Cover: