BiggerPockets Real Estate Podcast

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Latest Episodes:

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

Show notes

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 Forums

BiggerPockets Youtube Channel

BiggerPockets Pro Membership

Open Door Capital

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 Facebook Group

BiggerPockets Store

Brandon's Instagram

David's Instagram

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

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

Show notes

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 Forums

BiggerPockets Youtube Channel

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

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

BiggerPockets Facebook Group

BiggerPockets Store

Brandon's Instagram

David's Instagram

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

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

Show notes

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

BiggerPockets Forums

BiggerPockets Youtube Channel

BiggerPockets Pro Membership

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

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

Show notes

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 Forums

BiggerPockets Youtube Channel

Tony Robbins

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

Facebook Marketplace

Darrin Damme of Bullseye Branding

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

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

Show notes

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 Forums

BiggerPockets Youtube Channel

BiggerPockets Membership

BiggerPockets Book Store

Open Door Capital

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

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

Show notes

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

BiggerPockets Forums

BiggerPockets Youtube Channel

David's Instagram

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

Show notes

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

BiggerPockets Forums
BiggerPockets Real Estate Rookie Podcast
BiggerPockets Money Podcast
BiggerPockets Youtube Channel
BiggerPockets Money Youtube Channel (Please subscribe!)
Real Estate Rookie Youtube Channel (Please subscribe!)
BiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery Carl
Airbnb
VRBO
Zillow
PriceLabs
Brandon's Instagram
David's Instagram

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

Show notes

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

Show notes

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

Show notes

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: