BiggerPockets Real Estate Podcast

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Latest Episodes:

180: 58 Deals by Age Twenty-Three with Devan McClish Jun 23, 2016

Show notes

What were you doing at 23 years old? Probably not building 17 houses like today’s guest! That’s right — our guest today on the BiggerPockets Podcast is Devan McClish, a real estate investor from Nashville who’s done nearly 60 deals in just the past couple years — using almost no money of his own. You’ll learn how Devan finds deals, raises money, works with contractors, and so much more. This show will go down as one of the greatest in BiggerPockets history — so don’t miss a second of it!

In This Episode We Cover:

How Devan got started learning real estate when he was 18
How he convinced a mentor to teach him
His first deal 3 years later
How to avoid the shiny object syndrome
How he landed deals through direct mail
How he initially funded his deals
Living on $15,000 for a year
How to deal with peer pressure when you’re “going cheap”
The worst mistake he’s made so far
The biggest challenge in the beginning
Why finding the deal is harder than finding the money
How Devan finds deals
Tips on driving for dollars
His future goals
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
Think and Grow Rich by Napoleon Hill
How I Turned $1,000 into Five Million in Real Estate in My Spare Time by William Nickerson
The Intelligent Investor by Benjamin Graham

Tweetable Topics:

“While my friends are out drinking, I stay at home and try to find the next deal.” (Tweet This!)
“Instead of spending $300/month on a brand new car, I’d rather spend that to get another 300 yellow letters out.” (Tweet This!)
“Whenever they say you can’t do this, I say watch me do it.” (Tweet This!)

Connect with Devan

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179: Doing the “Impossible” by Buying 100+ Units in His First Two Years with Dale Hensel Jun 16, 2016

Show notes

What stops most people from achieving massive success through real estate? Money? Cheap properties? Knowledge? According to our guest today, it’s fear. That’s why we’re excited to introduce you to Dale Hensel, an investor who’s done everything from single family to multifamily to notes and a LOT more. You’ll be amazed at the simple way Dale used his “ignorance” that something should be hard to build several large, successful businesses — including one real estate company he took public!

In This Episode We Cover:

Dale’s very first house that he bought in 1996
How hitchhiking led him to figuring what he wanted
How he achieved 250 apartments in two and a half years!
The need for being confrontational in this business
The cool story of how he got started as a landlord
How he added multiple properties just because he has no money
What exactly a “wrap” is
The 3 important pieces of paper in a real estate transaction
The benefits of not knowing what’s “impossible“
The difference between performing and non performing notes
A discussion about his public company
And SO much more!

Links from the Show

BRRRR Calculator

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
The 4-Hour Workweek by Timothy Ferris
The Millionaire Fastlane by MJ DeMarco

Tweetable Topics:

“I didn’t know that it was supposed to be hard or impossible, so I bought 250 apartments.” (Tweet This!)
“I don’t have a filter that says ‘Well, they did it, I can’t.” I have filter that says, ‘If they did it, so can I.'” (Tweet This!)
“Take measured, gentle risk until you can push yourself a little further, and realize that you can go a lot further than you ever thought!” (Tweet This!)

Connect with Dale

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178: From House Hacker to House Flipper & Landlord with Charlie Kao Jun 09, 2016

Show notes

Trying to build a real estate portfolio when you are brand new and work a full-time job can be tough. That’s why today we are excited to bring you an interview with an investor (and moonlighting stand-up comedian) with a remarkable story of using various “house hacks” to jump into the game. Charlie Kao, who hails from the Detroit, Michigan market, covers his entire investing journey, from condo investing to house flipping to landlording and more. And don’t miss Charlie’s powerful — and incredibly unique — strategy for finding deals through networking! Today’s show is sure to bring new strategies to your business, and the humor will leave you smiling all day!

In This Episode We Cover:

Where Charlie comes from
How he learned real estate from his dad
Thoughts on starting off with $5-40k houses
A discussion about Detroit
The details of his first deal
How he realized how to live and flip via working at the bank
What exactly an underwriter is
Charlie’s first true flip in Grand Rapids
Thoughts on valuing your time when it comes to flipping
Tips for living in your flip
How he started out as a househacker
How he lived in the house for two years
How it might be difficult to live and flip with kids
Tips for getting your spouse on board
How to flip while having a full time w-2 job
How many flips Charlie has done so far
How he finds properties and the price range he looks for
The mailman and the foundation specialist as sources of leads
How he manages to get stated income loans
Some of the worst deals he’s had
What would have he done differently if he started all over again
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
The 4-Hour Workweek by Timothy Ferris
Maximum Achievement by Brian Tracy
The Psychology of Selling by Brian Tracy

Tweetable Topics:

“The more tools you have in your toolbox, the more projects you can take on.” (Tweet This!)
“This is going to be the last time I make this mistake because I’m going to learn from it.” (Tweet This!)
“It doesn’t matter how many things you’ve done; there are always things that could happen.” (Tweet This!)

Connect with Charlie

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177: Using Fixer-Upper Rentals (BRRRR) to Achieve Financial Independence with Ben Walhood Jun 02, 2016

Show notes

When you hear the acronym “BRRRR,” what comes to mind? Winter? Well, today on the BiggerPockets Podcast, we’re going to talk about BRRRR — and, no, we’re not talking about the temperature! On this powerful episode, we dive deep into one of the most popular and exciting strategies for real estate investors today — the BRRRR strategy (Buy-Rehab-Rent-Refinance-Repeat). We talk with Ben Walhood, a real estate investor from the Chicago suburbs who has found tremendous success buying properties in several states using BRRRR, as well as several other strategies. You’ll learn why it took Ben nearly ten years to “take off” as an investor, as well as the best tips he has for finding success today. Grab a notebook and pencil — because this is one show you’ll want to take some notes!

In This Episode We Cover:

Tips for switching from the linear path of a sales person to a real estate investor
What a “no doc loan” is
How Ben bought his first house in college to house hack
How he learns each market he gets into
The story of how he failed horribly on his second deal
What to do when you get calls from tenants in the middle of the night
Why every strategy could work
How he got better with his type of properties over time
The best deal he’s had
Why you have to fail to succeed
Tips on the BRRRR strategy
How many properties Ben has
What you should know about CapEx
Tips for using insurance companies
How to perform a walkthrough of a typical BRRRR deal
The downsides to this strategy
Tips for short-term financing through crowdfunding
Where is Ben going with his investing
How we was able to quit his job through investing
And SO much more!

Links from the Show

BiggerPockets Calculators (includes BRRR Calculator)
RealtyShares
BP Podcast 151: Finding Your “Freedom Number” with Clayton Morris
BiggerPockets Forums

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
The Book on Rental Property Investing by Brandon Turner
Investing in Real Estate by Gary Eldred
Rich Dad’s CASHFLOW Quadrant by Robert Kiyosaki
Eat That Frog! by Brian Tracy

Tweetable Topics:

“I just hated the idea of throwing away money on rent every month.” (Tweet This!)
“Find people that choose to rent and not ones that need to rent.” (Tweet This!)
“I had to try and fail before I could figure out what success looked like.” (Tweet This!)
“It’s all about putting in the right people and putting some terms in your lease.” (Tweet This!)

Connect with Ben

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176: How to Close 100+ Deals In Your First 18 Months with Tom Krol May 26, 2016

Show notes

Everyone knows it’s tough to find deals in today’s real estate market — but somehow our guest today, Tom Krol, didn’t get that memo! In his first 18 months, Tom closed over one hundred wholesale dealsand has continued to dominate his market. In this explosive and highly entertaining episode, Tom goes into incredible detail on the exact methods he used to build out a highly automated real estate acquisition machine. And don’t miss the in-depth discussion on nine specific lists that Tom mails to; it just might change your business forever. Hang on tight — this show is about to rock your world!

In This Episode We Cover:

How Tom got started in real estate
Why he had to sell his golf cart
The biggest mistakes he made when starting out
How he closed 100 deals in the first 18 months
The attitude successful wholesalers have
How to avoid “shiny object syndrome“
How he finds real estate deals
What “the list” is
What a motivated seller really looks like
Tips for buying owner-occupied deals
How Tom became successful in this kind of investing
What you should know about “the rule of 5“
Tips for using a virtual assistant
Why the money is in the database
How much he spends on direct mail
How many mailings per month he sends out
A discussion on bandit signs
How to get comfortable with making mistakes
How many hours he works per week
And SO much more!

Links from the Show

Books Mentioned in this Show

The ONE Thing by Gary Keller
Getting Things Done by David Allen
The Millionaire Real Estate Investor by Gary Keller
The 4-Hour Workweek by Timothy Ferriss
The Four Spiritual Laws of Prosperity by Edwene Gaines
Traction by Gino Wickman

Tweetable Topics:

“Progress not perfection.” (Tweet This!)
“Imperfect action instead of perfect planning.” (Tweet This!)
“Every single real estate deal, no matter what you do, starts with a good deal.” (Tweet This!)
“You’re going to make mistakes whether you have 4 years of education in real estate or none.” (Tweet This!)

Connect with Tom

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175: The Power of a Team to Build a Multifamily Real Estate Empire with Mike O’Connor and Matt Wood May 19, 2016

Show notes

Building a real estate portfolio can be challenging — but taking others along for the ride can help everyone achieve incredible results. That’s the topic on today’s episode of the BiggerPockets Podcast,where we sit down with Mike O’Connor and Matt Wood, two young investors from the Atlanta area who have built a sizable portfolio (150+ units) in a very short time thanks to the power of a team. You’ll learn why they jumped straight from a single house to an apartment complex and the mindset and strategies needed to pull it off successfully. This highly entertaining show will have you taking notes — and laughing — ’til the very end!

In This Episode We Cover:

The backstory of Mike and Matt’s investing career
The cool story on how they started working together
The value of analyzing deals
“Aunt Jemima” as their first property
What Section 8 is and some of its benefits
Tips for bringing more people on the team
Why their first deal was important
How they find the right people for their team
How they scored a 32-unit as their second deal
How they went from 32 to 100 units through creative financing
Tips for having a job while investing
WhatsApp and why they use it
How they differentiate roles in their company
The importance of systemizing and automating to scale their business
The Unique Wide Oak Deal
Why you should build relationships with your local banks
Why confidence matters in this business
And SO much more!

Links from the Show

Books Mentioned in this Show

The Book on Investing with No or Low Money Down by Brandon Turner
The 4-Hour Workweek by Timothy Ferriss

Tweetable Topics:

“We want to be good landlords, we truly enjoy providing good living conditions to our tenants.” (Tweet This!)
“To know that there is something that we can control that is providing us income is huge.” (Tweet This!)
“I’d rather have a small percent of a deal than zero percent of the deal.” (Tweet This!)
“You have to be ready to pivot based on the deal because not every deal fits in the same box.” (Tweet This!)

Connect with Mike and Matt

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174: Lessons Learned From 2,000+ Transactions Over 44 Years with Dave Short May 12, 2016

Show notes

Around BiggerPockets, we often encourage newer investors to sit down with an experienced real estate investor to “pick their brain” and soak up their wisdom. Today on the BiggerPockets Podcast, we want to do just that. Dave Short began investing in real estate nearly half a century ago and has an incredible level of insight into the ups and downs of building wealth through real estate. We cover everything from overcoming failure to flipping a hundred houses in four years and much more!

In This Episode We Cover:

How he got started in real estate from a factory job 44 years ago
The grave need for property management and liquidating their business
Thoughts on going through investing with over a million dollars in debt
Tips for making partners instead of having bank relationships
How help from the outside opened his eyes
Why you should stay in the game despite failures
The importance of working with the right people
How many transactions he has done over his real estate career
How he flips a house
Who’s on his team
How to hook a spouse on investing in real estate
How he buys his deals
How to get a good transaction as a wholesaler
Making a deal by solving other people’s problems
How to show yourself to be legit as a wholesaler
Why you should find a veteran investor in your market
What “pre-habbing” a house is
And SO much more!

Links from the Show

Books Mentioned in this Show

The 4-Hour Workweek by Timothy Ferriss
The Book on Rental Property Investing by Brandon Turner
The ONE Thing by Gary Keller and Jay Papasan
The Millionaire Real Estate Investor by Gary Keller
Burst This! by Frank McKinney
Unlimited Power by Anthony Robbins
Awaken the Giant Within by Tony Robbins

Tweetable Topics:

“The management is the key to success, and real estate is just the vehicle.” (Tweet This!)
“In buying and selling real estate, every house has 2 to 4 solutions.” (Tweet This!)
“The beauty in staying in the real estate business for 44 years is if you’re in a slump for 4 years, that’s only 10% of your career.” (Tweet This!)
“If you can’t ask the right questions, then you’ll never get to the solution.” (Tweet This!)
“I never look at them as competition. They’re people we work together with, and we can all make a living.” (Tweet This!)

Connect with Dave

Dave’s BiggerPockets Profile

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173: Flipping 100+ Houses in an Expensive, Competitive Market with Steve Jones May 05, 2016

Show notes

House flipping can be incredibly profitable and fun — but for many people, trying to make it work is next to impossible because of the high cost of homes. That’s why on this episode we’re excited to chat with Steve Jones, a house flipper from Southern California who has flipped over 100 deals in his neighborhood. Steve’s advice is rock solid for anyone looking to grow their real estate business — and you are going to love his advice about open houses. Steve’s perspectives just might change how you do real estate forever.

In This Episode We Cover:

Thoughts on investing in Southern California
How Steve got started in real estate
The first home he flipped
What exactly a “condo conversion” is
How he’s done over 100 flips so far
How Steve finds his deals
What you should know about looking for hidden value
Steve’s formula for evaluating a deal
How he flips a deal
What he typical spends on a normal rehab
The worst flip he’s ever done
How to think with the buyers in mind
Tips for getting an A-team contractor
How to learn from contractors
The importance of developing a thorough scope of work
Why deals are relationship based
How to calculate land value
What happens when people lose their money
Things that he loves about flipping houses
The “slow flip”
Becoming an expert on your neighborhood
And SO much more!

Links from the Show

Fake F***ing Flowers (video)
BiggerPockets Calculators

Books Mentioned in this Show

Rich Dad Poor Dad by Robert T. Kiyosaki
Why We Buy: The Science Of Shopping by Paco Underhil

Tweetable Topics:

“We always bring the indoors outdoors — and bring the outdoors in.” (Tweet This!)
“You have to have an appetite for risk.” (Tweet This!)
“Your best price is always going to be your first price.” (Tweet This!)

Connect with Steve

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172: Breaking Into Apartment Investing with a 100-Unit First Deal with Jonathan Twombly Apr 28, 2016

Show notes

Have you ever dreamed of owning large apartment complexes? If so, don’t miss this powerful interview with Jonathan Twombly, a real estate investor whose very first deal had over 100 units! You’ll learn why Jonathan skipped the “small deal phase” and jumped right into big deals — and how he’s gone from nothing to over 400 units in the past several years. This show offers an incredibly realistic view of what it actually takes to break into the apartment complex market!

In This Episode We Cover:

How Jonathan got out of the law industry and into real estate investing
The partnership that changed his life
How you can always find deals within 100 miles
The details of Jonathan’s first deal
What to do when someone cancels the deal
How financing contingency works
How he structures his deals
Tips for establishing yourself with brokers
The due diligence list to show to brokers
The importance of asking your friends for introductions
Why you should focus on the relationship aspect of investing
The details of Jonathan’s first successful deal
Why you should consider buying the “unsexy” properties
Tips on looking for deals
How he makes money through syndication
His strategy on making 400-unit deals
How he manages properties
What you should know about underwriting a deal
Things he would done differently if he started all over again
And SO much more!

Links from the Show

Books Mentioned in this Show

The Wall Street Journal. Complete Real-Estate Investing Guidebook by David Crook
Logistics Clusters by Yossi Sheffi
The War of Art by Steven Pressfield
The 4-Hour Workweek by Timothy Ferriss

Tweetable Topics:

“You don’t know what the heck you are doing, but you’ll figure it out when you start somewhere.” (Tweet This!)
“If you are a new investor, it’s not about how much money you have but about how many deals you have closed.” (Tweet This!)
“Persistence is 90% in business and then the other 10% is not being an idiot.” (Tweet This!)

Connect with Jonathan

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170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman Apr 14, 2016

Show notes

On this inspiring episode of the BiggerPockets Podcast, we sit down with real estate entrepreneur Andrew Cushman to learn how he went from a full-time job as a chemical engineer to a house flipper and finally a real estate syndicator, buying over 1400 units in less than a decade. You’ll learn how Andrew finds deals, manages the rehabs on a large scale, raises money for large apartment purchases, and more. Don’t miss a moment of this powerful show!

In This Episode We Cover: