Business

BiggerPockets Real Estate Podcast

Want financial freedom? Dave Meyer and Henry Washington teach proven real estate strategies and share candid conversations with everyday investors building wealth in today’s market.

Copyright: © Copyright © 2019 BiggerPockets Inc. All Rights Reserved. Disclaimer: The information contained in this podcast is for general information purposes only. In no event will we be liable for any loss or damage derived from the information provided.

Latest Episodes:

50: Getting Started and No Money Down House Flipping with Mike Simmons Dec 26, 2013

Show notes

On today’s episode of the BiggerPockets Podcast, we sit down and talk about the best ways to get started with real estate investing, as well as some killer tips for investing without using your own money.

From picking a niche, overcoming analysis paralysis, and a lot more – our guest, Mike Simmons, will share his story of overcoming obstacles and becoming a full time house flipper in the Metro Detroit area.

Mike has a great story and an incredible strategy for flipping houses using no money of his own, so whether you are brand new or have been investing for years – you don’t want to miss Mike’s creative advice.

Read the transcript for episode 50 with Mike Simmons here.

In This Show, We Cover:

Overcoming “shiny object syndrome” and “analysis paralysis”
Losing $1000 on his first “almost deal.”
Finding contractors without losing your hair
Dealing with Detroit investing
Why Mike had to evict a squatter who broke into his property
Finding good deals in any market
Using social media to attract private money
Using partnerships to get started or to grow
How Mike structures partnerships
Should you start with wholesaling?
And a whole lot more!

Links from the Show

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The Art of the Deal by Donald Trump
The Millionaire Next Door by Thomas J. Stanley
Wealth Attraction for Entrepreneurs by Dan Kennedy

Tweetable Topics

You can read for days – and never do anything. Get out there and DO something. (Tweet This!)
Work with a Realtor who knows you and knows your business. (Tweet This!)
50% of something is better than 100% of nothing. (Tweet This!)

Connect with Mike

Mike’s BiggerPockets Profile
Mike’s Website and Podcast: JustStartRealEstate.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

49: Real Estate Tax Tips, Jokes, and Loopholes With Amanda Han Dec 19, 2013

Show notes

In today’s episode of the BiggerPockets Podcast, we are going to talk about something you may think is a bit boring… taxes..

BUT WAIT! Perseverance

Before you move on to go watch the latest episode of Dancing with the Stars… I promise you this interview isn’t going to bore you to tears, but in-fact could potentially save you thousands of dollars this year alone on your upcoming tax bill. Today, real estate investor and CPA Amanda Han is going to bring a TON of really great tips and advice to help you make sure you are making, and keeping, the most wealth possible.

Additionally, this show is one of the most fun interviews we’ve done on the Podcast, so it definitely brings the once-boring topic of tax planning to a whole new entertaining level. No matter what stage of investing you are in – you definitely don’t want to miss this incredible show.

Read the transcript for episode 49 with Amanda Han here.

In This Show, We Cover:

How to find a good syndication deal
Important tax changes YOU need to know for 2013 and 2014
The Obamacare Tax – do you need to pay it?
The loophole that allows real estate investors to write off “paper losses.”
The new laws and tax changes that may limit your mortgage interest deduction
When to talk to a tax strategist
How to find a great CPA
The biggest misconceptions about tax deductions
What legal entity should you have?
Things YOU need to do before the end of 2013
How to deduct your cat food?
Investing with a Self Directed IRA
Common tax mistakes that many investors make
And much, much more.

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The Four Hour Workweek by Timothy Ferriss

Tweetable Topics

When looking at syndicated deals, the #1 most important thing to look at is the syndicator, the team behind the deal. (Tweet This!)
If you’re educating your accountant, it’s probably time to find a new one. (Tweet This!)

Connect with Amanda

Amanda’s BiggerPockets Profile
Amanda’s Company Website: KeystoneCPA.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

48: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager Dec 12, 2013

Show notes

On today’s episode of the BiggerPockets Podcast, we talk with real estate investor Darren Sager about his fascinating business model involving buy and hold real estate, live-in flips, and managing properties with minimal hassle.

This show is crammed full of awesome, actionable ideas, tips, and lessons – so don’t miss a second of it!

Read the transcript for episode 48 with Darren Sager here.

In This Show, We Cover:

The college professional who got Darren started
When to use the 1% rule
How Darren bought his first property for almost nothing down
The $400,000 live-in flip
The #1 most important characteristic Darren looks for in properties
The secret to renting property to people with children
How to save thousands of dollars using YouTube.
And a whole lot more

Links from the Show

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The 4 Hour Workweek by Tim Ferriss
The E-Myth Revisited by Michael Gerber
Millionaire Real Estate Investor by Gary Kellar
Millionaire Real Estate Agent by Gary Kellar
All You Can Do is All You Can Do, but All You Can Do Is Enough by Art Williams
Hamburger America by George Motz

Tweetable Topics

“If a deal doesn’t at least meet the 1% rule – run away.” (Tweet This!)
“It may be cliche, but when buying real estate… location is everything.” (Tweet This!)
“The worse condition a property is in, the more I’ll love it!” (Tweet This!)
“The most successful people are those who failed the most.” (Tweet This!)

Connect with Darren

Darren’s BiggerPockets Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices

47: Apartment Complexes, NNN Leases, and Commercial Real Estate with Joel Owens Dec 05, 2013

Show notes

How do you like the idea of making double digit returns while not needing to lift a finger with your investments? If so – this is the show for you. On this 47th episode of the BiggerPockets Podcast we sit down with commercial real estate investor and broker Joel Owens to learn strategies for getting started with commercial real estate investing. From apartment complexes to NNN lease investing and a lot more, this show is packed full of tips for investors in all walks of life.

In This Show, We Cover:

How Joel got his start… from Pizza Owner to Apartment Broker/Buyer
Joel’s first investment… that turned bad quickly
What makes an A, B, C, and D neighborhood
How much does it really cost to buy commercial real estate?
Should someone start with apartments or single family properties?
Where to find apartment complexes and other commercial properties
How to determine the value of an apartment
How to carry out the “Value Add” strategy
No money down commercial investing?
Carrying a second mortgage when selling real estate
NNN Lease Investing – How to get started with this passive investments
And a LOT more

Links from the Show

Costar
Loopnet
BiggerPockets.com/calc
BiggerPockets.com/meet
Introduction to Real Estate Investment Deal Analysis by J Scott – (Great blog post about analyzing properties)

Books Mentioned in the Show

Dealmaker’s Guide to Commercial Real Estate: Strategy and Practice for the Intelligent Investor by Ray Alcorn

Tweetable Topics

“You have to have a certain mentality to live next to your tenants… I don’t have that personality.” (Tweet This!)
“If you are used to buying houses, apartment investing is the easiest to get into.” (Tweet This!)
“Real estate is like a roller coaster – fast lows and fast highs…with a lot of coasting in the middle.” (Tweet This!)
“Run your real estate like a business, not a hobby.” (Tweet This!)
“Small steps lead to big results.” (Tweet This!)

Connect with Joel

Joel’s BiggerPockets Profile
Joel’s Website: AWCommercial.com

Example of Income Approach Math

Property Type: 4 Plex
Income Per Unit: $400
Gross Monthly Income: $1600
Gross Expected Income: $19200
Subtract out all operating expenses (60%) $19,200 x .4 = $7,680
Net Operating Income: $7,680
Divide by Purchase Price to get Cap Rate: $7,680/100,000 = 7.68%
Cap Rate: 7.68%

Example of How to Determine How Much You Can Afford

Cash Down Payment, 10%: $300,000
Seller held back a 15% second mortgage: $450,000
Total Purchase Price: $3,000,000
First Mortgage: $2,250,000

Learn more about your ad choices. Visit megaphone.fm/adchoices

46: Six Figure Profit Spec Building and Marketing for Incredible Deals with Jon Klaus Nov 28, 2013

Show notes

On today’s special Thanksgiving Day show, we sit down with one of BiggerPockets’ most active members and biggest success stories, Jon Klaus.

Jon has flipped homes, built new properties, rented homes, and done a huge variety of other activities in the real estate space. Not only is Jon an incredibly nice guy, he’s also one of the smartest investors you’ll ever hear from.

Don’t miss a second of this powerful show, where we cover everything from marketing for killer good dealsoutside of the MLS, arranging financing for your deals, getting started with no money, and even a step by step journey through a six-figure spec build.

Read the transcript for episode 46 with Jon Klaus here.

In This Show We Cover

How Jon got started…using lawn mowing money
Mistakes Jon has made involving War Zones
The 7,000 sq ft house flip
The 2% Rule – what it is, when to use it
When to change your strategy
The secret for beating other investors with great deals
How to market for incredible deals
How a single trees can cost you over $200,000
A step by step guide for spec building
The four elements needed for a successful spec house

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The 4 Hour Workweek by Tim Ferriss
The E-Myth Revisited by Michael Gerber
The Richest Man Who Ever Lived: King Solomon’s Secrets to Success, Wealth, and Happinessby Steven K. Scott

Links from the Show

The Rental Property Calculator
BP Podcast 022 – Building a Marketing Machine, Spec Houses, Flipping & Wholesaling with Tucker Merrihew
Wade Cook – Wikipedia
The Definitive Guide to Using Seller Financing to Buy Real Estate
How to Hack Your Housing and Get Paid to Live for Free from Brandon Turner
Forum Threads on Dodd Frank and Safe Act 1, 2, and 3
BP Podcast 038: Unique Strategies for Buying Real Estate with Travis Daggett
J Scott Diary of at Spec Build
Rich Weiss – BiggerPockets Profile
Jon’s recent project (with Photos)

Tweetable Topics

With determination, focus, and a little bit of money – you can get started as a real estate investor today. (Tweet This!)
The deal flow will always be there; people will always buy and sell real estate. (Tweet This!)
Buy the property right – that makes all the difference in the world. (Tweet This!)
The key to success is determination and endurance. Winners don’t quit when it gets hard. (Tweet This!)

Connect with Jon

Jon’s BiggerPockets’ Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices

45: Finding Your Unfair Advantage, Rural Investing, and Getting Started with Tom Sylvester Nov 21, 2013

Show notes

On today’s episode of the BiggerPockets Podcast, we cover a huge variety of really interesting topics with real estate investor Tom Sylvester (yes, that rhymes!)

Tom has been investing in the Rochester, NY area for several years and has a great perspective on getting started, building systems to manage your business, investing in rural areas (or as Brandon says, “rrrrrurrral”,) and a whole lot more.

Don’t miss a second of this excellent interview!

Read the transcript for episode 45 with Tom Sylvester here.

In This Show, We Cover

Tom’s early lessons
The advantages and disadvantages to rural investing
Finding mentors and networking
Talking with your spouse about getting started with real estate
Getting started with real estate at a young age
When is the right time to quit your day job?
Red flags for problem tenants
The $10 Toilet part that could have saved Tom hundreds of dollars
And much more.

Links from the Show

Books Mentioned in the Show

The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach
Rich Dad Poor Dad by Robert Kiyosaki
The 4 Hour Workweek by Tim Ferriss
The E-Myth Revisited by Michael Gerber
The Book on Flipping Houses by J Scott
The Book on Estimating Rehab Costs by J Scott
What Every Real Estate Investor Needs to Know About Cash Flow… And 36 Other Key Financial Measures by Frank Gallinelli
The Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets

Tweetable Topics

Find your unfair advantage in business and exploit it. (Tweet This!)
What do you want your life to be? How are you going to get there? (Tweet This!)
If you aren’t finding success – be persistent but change your tactic. (Tweet This!)
Know the difference between a cheap property and deal. (Tweet This!)

Connect with Tom

Tom’s BiggerPockets Profile
Tom’s Website: Tom-Sylvester.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

44: Creating Systems to Flip Houses While Still Employed with Michael Woodward Nov 14, 2013

Show notes

Trying to investing in real estate while holding a full time job is tough – but trying to flip houses can be even tougher. From dealing with contractors to finding money to getting the deals in the first place – flipping often feels like a full time job in itself. Luckily, today we talk with someone who is doing all those things while working a demanding day job – and finding great success at it. Michael Woodward sits down with us today to show us the systems he uses to balance both his house flipping with the rest of his life – all while maintaining a full time job. Whether you are a flipper, wholesaler, or Buy and Hold investor – you don’t want to miss this great interview on systemizing your business.

Read the transcript for episode 44 with Michael Woodward here.

In This Show, We Cover

Why Michael quit his job – but ended up going back into a full time job again
When’s the right time to quit your job?
Failure – when it’s necessary
Learning the tough lessons about doing your own work
One trick to help you find the very best contractors
What’s the “Ideal Flip?”
Why Michael fully furnishes all his properties
Dealing with troublesome neighbors
How Michael is funding his flips
Managing a flip while working a full time job
The List System that helps Michael know what comes next in a flip
The best place to buy appliances
and a lot more

Links from the Show

Books Mentioned in the Show

The Millionaire Real Estate Investor by Gary Keller
The 4 Hour Workweek by Tim Ferriss
The E-Myth Revisited by Michael Gerber

Tweetable Topics

The nice thing about BiggerPockets is the ability to share what we know. (Tweet This!)
If you’re going to go big you’re going to have to fail somewhere. (Tweet This!)
You can talk yourself into any deal. It doesn’t make it right. (Tweet This!)
The only way to invest in real estate while holding a job is to have systems. (Tweet This!)

Connect with Michael

Michael’s BiggerPockets Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices

43: Getting Started, Making Offers, and Crazy Properties with Shaun Reilly Nov 07, 2013

Show notes

On today’s episode of the BiggerPockets Podcast we sit down with real estate investor Shaun Reilly to talk about a wide range of topics – from getting started while living in an expensive area to wholesaling, putting in offers, flipping houses, buy and hold, and a lot more.

This interview was a ton of fun to do and there are so many great nuggets of information that anyone who listens will walk out with skills they can apply to their real estate investing business.

Read the transcript for episode 43 with Shaun Reilly here.

In This Show, We Cover:

How to start investing when properties are super expensive
The benefits and pitfalls of investing in condos
How Shaun got his first successful flip from a failed wholesale deal
Investing in real estate with a credit card
Shaun’s direct mail campaign – and how he got the list for free
Tips on working with real estate agents
Offering on HUD Properties
Offering on hundreds of properties to see what sticks
The mistakes Shaun has made in his real estate investing
The craziest property anyone on our show has ever purchased
And more!

Links From the Show:

BP Podcast 038: Unique Strategies for Buying Real Estate with Travis Daggett

Books Mentioned in the Show:

Rich Dad Poor Dad by Robert Kiyosaki
Rich Dad’s CASHFLOW Quadrant by Robert Kiyosaki
Rich Dad’s Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! by Robert Kiyosaki
Nothing Down: How to Buy Real Estate With Little or No Money Down by Robert Allen
The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen R. Covey
Getting Things Done by Robert Allen

Tweetable Topics

Don’t focus on simplistic things that are easy to do but are not effective. (Tweet This!)
The key to buying troubled properties is buying them at the right price. (Tweet This!)
There are two kinds of real estate investors – those who make a lot of money and those who give up too soon. (Tweet This!)

Connect with Shaun

Shaun’s BiggerPockets Profile
Shaun’s BiggerPockets’ Member Blog
Shaun’s Lead Gen Website: http://www.rre-homes.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

42: Building a Monster Wholesaling Business with Mike Nelson Oct 31, 2013

Show notes

The concept of wholesaling still confuses a lot of people – and learning how to do it correctly to make great income confuses even more.

Luckily, today on the BiggerPockets Podcast we are going to sit down with a wholesaler who is crushing it with his amazing wholesaling business. Mike Nelson is going to take us inside his business and show us how he is generating huge profits through systems that you can start to implement in your own business today. From marketing to outsourcing to partners and more – this podcast will take you from wholesaling newbie to pro in just an hour.

Don’t miss this show!

Read the transcript for episode 42 with Mike Nelson here.

In This Show, We Cover

How Mike lost 2k on the first deal
Partnering with others while wholesaling
Virtual wholesaling
Mike’s exact process for wholesaling a deal
Postcards vs. Yellow Letters
The one direct mail tip that blew Josh and Brandon away!
Tips and tools for finding missing homeowners
How to hire a Virtual Assistant to help you in your business

Links from the Show

Books Mentioned in the Show

Rich Dad Poor Dad by Robert Kiyosaki
The 4 Hour Workweek by Tim Ferriss
The E-Myth Revisited by Michael Gerber
The Lean Startup by Eric Ries

Tweetable Topics

The secret to success in business is fixing other people’s headaches. (Tweet This!)
If you don’t have a business card – you are inconveniencing the other person to write down your number. (Tweet This!)

Connect with Mike Nelson

Mike’s Blog WholesalingHouses101.com
Mike’s BiggerPockets Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices

41: How to Profit Through Long Term Flipping and Lease Options with Douglas Larson Oct 24, 2013

Show notes

On today’s episode of the BiggerPockets Podcast, we are excited to bring you a fascinating interview with real estate investor Douglas Larson.

Douglas has been investing for over 15 years, doing everything from flipping, buy and hold, lease options and more. Additionally, Douglas has some great stories of working for several weeks on a Guru sales floor, and sheds new light on the shady sales world that we, at BiggerPockets, stand so strongly against.

You definitely don’t want to miss this entertaining and informative show!

Read the transcript for episode 41 with Douglas Larson here.

In This Show, We Cover

How Douglas started investing in an expensive location
Tips for starting while working a full time job
How to encourage your spouse to support your REI dream
Tips for bidding for properties in online auctions
“Scandal” in the online auction world
Working with your spouse in a real estate business
Lessons learned while working the “Guru” sales training
Tips for dealing with contractors and keeping them on the job site
And a lot more!

Links from the Show

**Also – be sure to check out this great article from Douglas from over in the BiggerPockets Member Blogs with even more information from Douglas, as well as some photos of some of the properties mentioned in the show! “Bigger Pockets Podcast Show 41…” **

Books Mentioned in the Show