BiggerPockets Real Estate Podcast

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Latest Episodes:

210: My First Deal Changed My Life! A Newbie Show with Sunny, SunMarie, and Sam Jan 19, 2017

Show notes

Can a single real estate deal change your life? Definitely! That’s the topic on today’s “newbie episode” of the BiggerPockets Podcast, where we sit down for several interviews with real estate investors who have just purchased their first deal. In the first interview, you’ll hear how Sunny and SunMarie Burnsused a fantastic “house hack” to invest in an extremely high-priced area. In the second interview, you’ll hear how Sam Valme was able to house-hack his home into a vacation rental that throws off massive cash flow each month. These stories are incredibly inspiring and full of tips that can help new AND experienced investors achieve more in their business!

In This Episode We Cover:

Sunny and SunMarie’s Segment:

How Sunny got hooked to the podcast
Why you should consider buying a fourplex as a first property
How to find these deals
Thoughts on the competitiveness of the real estate market
How to use house hacking to earn extra cash
Why you should always look out for holding costs
How real estate helped Sunny and his family

Sam’s Segment:

How his mom unknowingly gave him a ticket to real estate investing
How he turned the basement into a rental unit
Tips for making the financing work on a deal like this
Why he used an FHA 203K for financing
The benefits of using Airbnb to rent your property
How to price Airbnb rentals the right way
How to use electronic locks and automate the process
His worst tenant experience ever
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert T. Kiyosaki
The ABCs of Real Estate Investing by Ken McElroy
The Millionaire Real Estate Investor by Gary Keller
The E-Myth Revisited by Michael E. Gerber
Outwitting the Devil by Napoleon Hill
The ONE Thing by Gary Keller and Jay Papasan
The Book on Managing Rental Properties by Brandon and Heather Turner

Tweetable Topics:

“House hack and get your tenants to pay your rent, mortgage, and taxes.” (Tweet This!)
“Hard work just isn’t enough. You need to figure out the why.” (Tweet This!)
“Imagine your perfect day and then, work backwards from there.” (Tweet This!)
“It’s better to fail 50 times trying to figure out what you want to do than to sit back for an entire year thinking about it.” (Tweet This!)

Connect with Sunny

Connect with Sam

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209: Flipping 83 Homes in the Last 18 Months with Kevin Carroll Jan 12, 2017

Show notes

Is small thinking holding you back? Not after this episode! Today on the BiggerPockets Podcast, Josh and Brandon talk with Kevin Carroll, a real estate investor who decided 18 months ago that he wanted to start flipping houses… and has done 83 flips in the past year and a half! Perhaps most impressively, Kevin did most of these flips out of state utilizing strategic partnerships — a strategy that just might change the way you think about real estate forever. Sit back and prepare to have your mindset expanded and let “big thinking” take over.

In This Episode We Cover:

How Kevin went from a straw-built house to flipping 1,000 houses
What a bank-owned product is
How he built a system that works
What you should know about probates
How to think like an investor instead of an agent
Things that could screw up a deal
The two components that make a deal successful
Why you should consider holding costs
Buying properties offsite
Insight on quality control and scaling the business
How to stay ahead of the flip
Why he partners with real estate agents
Why his partners need him
His favorite deals and why
The bad deals he’s encountered
Thinking big when it comes to setting targets
Who your friends are so important
And SO much more!

Links from the Show

Path to Purchase (visit your dashboard)
BiggerPockets Forums
Gobundance

Books Mentioned in this Show

The Real Book of Real Estate by Robert Kiyosaki
The Millionaire Real Estate Agent by Gary Keller
The Millionaire Real Estate Investor by Gary Keller
The E-Myth Revisited by Michael E. Gerber
MONEY Master the Game by Tony Robbins
A Journey to Financial Independence by Kevin Carroll

Tweetable Topics:

“Everything is based on relationships.” (Tweet This!)
“I’d rather spend $2,000 more and get the flip done a week sooner.” (Tweet This!)
“One of the important things you can do for a contractor is to pay them immediately.” (Tweet This!)
“Who you hang out with will dictate your level of income, your level of success.” (Tweet This!)

Connect with Kevin

Kevin’s BiggerPockets Profile
Kevin’s Website (with his spreadsheet)

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208: Buying 41 Units on Your First Deal + Mobile Home Park Investing with Jack Baczek Jan 05, 2017

Show notes

Most people begin their real estate investing with a small single family purchase. Some even start with a duplex or triplex. But today’s guest on the BiggerPockets Podcast skipped the intro phase and jumped right into a 41-unit property early in his 20s! Today, you’ll learn how Jack Baczek used a strategy not before mentioned on the podcast to invest in 41 units, as well as his transition to mobile home park investing (and why that niche ROCKS). Jack’s story is truly inspirational, and you’ll walk away from this interview inspired, entertained, and pumped up to take massive action on your own business!

In This Episode We Cover:

How Jack got started with real estate
How he stumbled upon what ended up his first deal at age 21
What exactly a fractured condo is
How he found his first deal of 21 units
How he financed this huge deal
A warning against hiring the wrong property manager
How having parents who invest in real estate affected him
Why he sold the 41-unit property
Why he made the shift to mobile home parks
What a mobile home park deal looks like
Reasons to invest in mobile home parks
The changes he made to the park to make it rent-ready
Why there’s a bad stigma on mobile parks
Why Jack fell in love with direct mail marketing
The downsides of owning a mobile home park
Where is he now in terms of scaling his business
What an assignment fee is
Tips for trying to read the market
What the next five years look like for Jack
And SO much more!

Links from the Show

Books Mentioned in this Show

Emerging Real Estate Markets by David Lindahl
30 Days of Successful Due Diligence on Mobile Home Parks by Frank Rolfe & Dave Reynolds
The Intelligent Investor by Benjamin Graham

Tweetable Topics:

“I think having a good market is really important.” (Tweet This!)
“I think it’s important to really focus on good deals with value add and upside.” (Tweet This!)
“If you get a mediocre deal, chances are it could go sour. I’d rather try and find something that looks really promising.” (Tweet This!)

Connect with Jack

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207: How to Achieve Greater Success by Doing Less with Devin Elder Dec 29, 2016

Show notes

Real estate investors wear a lot of hats, especially in the beginning: contractor, bookkeeper, receptionist, and more. But if you truly want to grow your business, you must do LESS. At least, that’s the message you’ll hear today on The BiggerPockets Podcast, where Josh and Brandon sit down with real estate investor Devin Elder about how he’s been able to scale his business by doing fewer and fewer tasks. You’ll learn how he went from a single family rental in 2012 to buying multiple properties each month. We cover the topic of BRRRR investing, fix and flipping, using private lenders, getting started with no money, and lots more. Stay tuned for this powerful episode!

In This Episode We Cover:

How Devin got started into real estate
How he got a mentor to help him get his first deal
What exactly equity capture is
Why the BRRRR strategy is so nice
Thoughts on his market, San Antonio
Devin’s main focus as a real estate investor
How his business works
The importance of creating systems and not doing things you don’t enjoy
Why you shouldn’t reinvent the wheel
How he decides if he flips, holds, or wholesales a property
How he finds his deals
How to figure out if someone is fudging the numbers
The mechanics of his marketing
The story of a deal that went wrong
What makes him proud about how he does business
The name that comes to mind if he heard the word “inspiration“
What the future looks like for Devin
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Rental Property Investing by Brandon Turner
The Book on Flipping Housesby J. Scott
Investing with No or Low Money Down by Brandon Turner
The Book on Tax Strategies by Amanda Han
80/20 Sales and Marketing by Perry Marshall
Rich Dad Poor Dad by Robert Kiyosaki
The Millionaire Real Estate Investor by Gary Keller
Elon Musk by Ashlee Vance

Tweetable Topics:

“Rental income wasn’t making me wealthy, but it was paying my bills.” (Tweet This!)
“It’s about creating systems, getting software, and not spending time on activities that you don’t enjoy.” (Tweet This!)
“Nothing happens without some revenue.” (Tweet This!)
“Use your hustle to create some kind of value and then from there take the next best step.” (Tweet This!)

Connect with Devin

Devin’s BiggerPockets Profile
Devin’s Website
Devin’s Company Website – We buy houses San Antonio

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206: Taking Massive Action to Do 20+ Deals in Two Years with Joe England Dec 22, 2016

Show notes

Two years ago, Joe England was just a full-time military guy, dreaming about financial freedom. Now, he’s done over 20 deals and is taking massive action to create an incredible future for himself. On this episode of the BiggerPockets Podcast, we dive deep into Joe’s story and learn how taking massive action has helped him build his portfolio — despite being deployed overseas the majority of the time.

In This Episode We Cover:

How Joe learned about real estate from infomercials and BiggerPockets
Why he needs power of attorney
Important books he’s read
How he started investing while still deployed in Iraq
How he landed 22 properties in just 10 months
What exactly a rent-ready property is
What kind of properties he invests in
How he finances these deals
Joe’s end goal and his “why”
The state of the real estate market in Baltimore
How to NOT be a slumlord
How he manages his properties
His experiences with bad property managers
How to find properties on the MLS and Zillow
The strategy of putting an offer on everything he sees
His advice for the military
And SO much more!

Links from the Show

Books Mentioned in this Show

BiggerPockets Ultimate Beginner’s Guide to Real Estate Investing
The Book on Rental Property Investing by Brandon Turner
The Book on Flipping Housesby J. Scott
Investing with No or Low Money Down by Brandon Turner
The 10X Rule by Grant Cardone
Ego Is the Enemy by Ryan Holiday
The One Thing by Gary Keller

Tweetable Topics:

“When doing an offer, if you are not embarrassed by your offer, it’s too high.” (Tweet This!)
“Real estate is kinda like an accidental pregnancy. At the end of the day, you’ll figure it out.” (Tweet This!)
“You can measure success by creating new problems.” (Tweet This!)

Connect with Joseph

Joseph’s BiggerPockets Profile
Email Joseph

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205: Snowballing from Single Family Houses to Apartment Complexes with Jered Sturm Dec 15, 2016

Show notes

How does one transition from doing simple houses to more complex deals? That’s the topic on today’s episode of the BiggerPockets Podcast, where we sit down once again with Jered Sturm, a real estate investor from the Midwest who’s made the transition from doing all his own work on single family houses to purchasing larger properties. In this episode, we dig in deep on the purchase of his newest 42-unit apartment complex and the unique “value-add” ideas he discovered that made this property a home run!

In This Episode We Cover:

A quick recap on how Jered got started in this game
What market is he in and how it changed over the last couple of years
Why he moved his investing from Cincinnati to Atlanta
How he uses partnerships to manage different markets
Tips for funding using other people’s money
The goal that led to using syndication
Self-fulfillment rather than just buying more
The importance of figuring out your “why“
How he has the discipline to not spend their quadrupled income
Why you should separate out the “business income”
How he found his 42-unit apartment complex
Tips on managing cold calling
What criteria was he looking for
The advantages of having dedicated water lines for the units
The beauty of adding value to properties
What exactly a resident manager is
Why building structures made the difference in their business
How he financed this multifamily deal
Using the BRRRR strategy on large multifamily
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Rental Property Investing by Brandon Turner
The Book on Managing Rental Propertiesby Brandon Turner and Heather Turner
Traction by Gino Wickman
E-Myth Revisited by Michael E. Gerber

Tweetable Topics:

“Self fulfillment is how can you be the best you can be while also helping others be the best they can be.” (Tweet This!)
“We’ve over prepared for the future, and even though we’re still pretty small, we’re running like a large company.” (Tweet This!)
“Management makes or break the investment.” (Tweet This!)

Connect with Jered

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204: Flipping 30+ Deals by Age Twenty-Five with Chris Gill Dec 08, 2016

Show notes

Today on the BiggerPockets Podcast, you’ll hear from Chris Gill, a real estate investor in the San Antonio market who has only been investing for three years but has already done over 30 deals — mostly fix and flips. On this episode, we walk through Chris’s unique journey, including his initial four-plex rental property and his path toward flipping “the worst houses in the area.” And don’t miss Chris’s fantastic tip for finding deals that no one on the BiggerPockets Podcast has mentioned yet!

In This Episode We Cover:

How he transitioned from film to real estate
Whether or not you should get your real estate license
What Chris’s first deal looked like
The things he wished he knew before he started investing
Why properly screening tenants is vital
Tips for creating a great team
How he manages his properties
How he does his bookkeeping
Tips for transitioning to house flipping
His criteria for finding deals
How he estimates his rehabs
Tips for evaluating a house to rehab
How he funds his deals
What he’s doing on the development side of real estate
What’s unique about the San Antonio market
How to find the sweet spot between too much and too little improvement
What his end game looks like
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad’s Advisors: The Advanced Guide to Real Estate Investing by Ken McElroy
Rich Dad Poor Dadby Robert Kiyosaki
The Book on Flipping Houses by J. Scott
The Everything Store: Jeff Bezos and the Age of Amazon By Brad Stone
The Snowball: Warren Buffett and the Business of Life by Alice Schroeder

Tweetable Topics:

“If you want scalability, if you want to go anywhere else, you have to find something that allows you that.” (Tweet This!)
“Just because you’re not good at something does not mean it’s not important.” (Tweet This!)
“Be aware of overanalyzing stuff because that will happen forever if you allow it.” (Tweet This!)
“Becoming comfortable with the unknown is huge, and I think in real estate that’s absolutely the case.” (Tweet This!)

Connect with Chris

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203: Finding Deals, Funding, Contractors, and Mentors with Matt and Liz Faircloth Dec 01, 2016

Show notes

When learning how to invest in real estate successfully, most people struggle finding four things: mentors, contractors, deals, and funding. That’s why today we’re excited to bring back Matt and Liz Faircloth onto The BiggerPockets Podcast to talk about how they find each of these! Matt and Liz (who were on episode 88) join us today as we dive deep into solving many of the problems that new investors struggle with. They also share the difficult story of how they recently shut down a major arm of their business and why it was the best move for them. Finally, Matt and Liz delve into the recent purchase of their 49-unit apartment building, offering some unique tips that will help you find and fund your next big deal!

In This Episode We Cover:

A recap of who Matt and Liz are
Why they purchase a combination of flips and rentals
What their “why” for investing in real estate is
How many deals they look at
A discussion on paying someone by the hour vs. by the job
The do’s and don’ts of finding partners through BP
How to “scale back“
How to find good, quality contractors
Tips for dealing with bad contractors
How they got into rental units
The details of their 49-unit apartment complex
How they were able to finance a $3.4 million deal
A tip for finding property managers
Why they give away flat screen TVs each year to their tenants
And SO much more!

Links from the Show

Books Mentioned in this Show

The 4-Hour Workweekby Timothy Ferriss
Rich Dad Poor Dadby Robert Kiyosaki
The Book on Flipping Houses by J. Scott
The 10x Rule by Grant Cardone
Rich Dad’s Advisors: OPM by Michael A. Lechter & Robert Kiyosaki
Down To Earth Landlording by Donald Beck
Scaling Up by Verne Harnish
As a Man Thinketh by James Allen

Tweetable Topics:

“You’ve got to have a really solid ‘why.’” (Tweet This!)
“Sometimes you need to step back and ask yourself, ‘What am I really good at?'” (Tweet This!)
“If you got a good horse, keep running with it.” (Tweet This!)
“What you think is who you are.” (Tweet This!)

Connect with Matt & Liz

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202: Escaping the Rat Race Through Rental Properties with Mark Walker Nov 24, 2016

Show notes

Most people dream of getting out of the “rat race,” quitting their day job, and living on passive income sources. However, usually that’s just wishful thinking. But today, we’re excited to introduce you to a real estate investor who did just that using rental properties, and he explains just how he did it. You’ll learn how our guest, Mark Walker, used single family houses at first to begin building his portfolio, and how his passive income really took off when he switched to multifamily. And you’ll love the in-depth discussion on exactly how he acquired his 64-unit apartment building!

In This Episode We Cover:

How Mark got started with a duplex that yielded a 36.5% cash on cash return
Tips for shifting from developments to rentals
Why he doesn’t want anything to do with property management
Why it’s a matter of finding the right financing
The basics to know about amortization and cash and cash return
How to partner with the right people along the way
How he finances his deals
How he structures his partnerships
The difference between conventional and commercial loans
How he ended up partnering on a deal with a property manager
How he knew that it was the right time to quit his job
Tips on job shadowing someone with great experience
Details on his 64-unit deal
What you should know about syndication
How much time he is spending on his business
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
Best Real Estate Investing Advice Ever by Joe Fairless

Tweetable Topics:

“I’m the guy who likes to say yes. I don’t like saying no. I let somebody else do that for me.” (Tweet This!)
“It’s been a pleasant surprise for a multifamily owner. Once you get that property stabilized, it can go to autopilot.” (Tweet This!)
“Never stop learning. Learning leads to action, and action leads to success.” (Tweet This!)
“Do your first deal and learn from it. Ask yourself what’s working, what’s not working, and what can improve.” (Tweet This!)

Connect with Mark

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201: Flipping 100+ "Zombie" Houses with Justin Stamper Nov 17, 2016

Show notes

Dead “zombie” houses are everywhere — just waiting for you to bring them back to life if you are willing to take the risk! That’s the story we dive deep into today on the BiggerPockets Podcast when we sit down with reality TV star Justin Stamper, a real estate investor from the Orlando, FL market who has a fascinating and inspiring story of rising up from near financial ruin to become one of the most prolific investors in his market. You’ll learn how his “punk rock” attitude has given him a unique perspective on his investing and how he has been able to flip over 100 “zombie” homes (and wholesale over 200 other deals!) in the past several years. After listening to this show, you’ll be inspired, motivated, and educated enough to tackle your next zombie house!

In This Episode We Cover: