BiggerPockets Real Estate Podcast

Get Your Ticket for BPCon 2022

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Understanding Rental Property Depreciation

Dave's Instagram

9 Simple Steps to Finding the Best Real Estate Mentor for You

Henry's Instagram

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-625

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

624: Seeing Greene: How to Get Around High Down Payment Requirements Jun 19, 2022

Show notes

You need a 20% down payment to buy a house, right? Most people assume that the standard down payment amount, 20% down, is the acceptable average when buying a rental property or a primary residence. But this isn’t always true, even for real estate investors. Many investors will spend years saving up just a single down payment amount, only to later realize that they could have bought multiple rental properties faster if they would have done less down. So before you put a big chunk of change into your next rental, listen up.

David Greene is back with another episode of Seeing Greene where he takes a multitude of questions from new and small real estate investors. There is an answer for everyone in this episode with topics covering down payment amounts, investing in US real estate while living abroad, new real estate agent tips, how to finance ADUs (accessory dwelling units), and retiring yourself (or your parents) with real estate investing!

Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!

In This Episode We Cover:

What type of rental property should you buy as your first real estate deal

How to dominate your market as a brand new agent and meet buyers and sellers

As a foreign investor, how can you get around the 35% down payment requirement

How to finance an ADU to increase cash flow on your rental property

Should you invest with your family if you haven’t done a deal yet?

Buying rental properties without having to save up a 20% down payment

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Get Your Tickets to BPCon2022

BiggerPockets Money Podcast

Work with David’s Team on Your Next Mortgage

Listen to Our Interview with Dan Brault

Books Mentioned in the Show

SOLD by David Greene

SKILL by David Greene

Finding and Funding Great Dealsby Anson Young

Long-Distance Real Estate Investingby David Greene

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-624

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

623: 10th Grade Dropout to 400-Unit Apartment Complexes (WITHOUT Raising Money) w/Sofia Castro Jun 16, 2022

Show notes

Multifamily real estate investors almost always raise money for their deals, right? Some would call it almost impossible to try and build a huge real estate portfolio without borrowing money or partnering up to take down bigger properties. Sofia Castro, along with her husband, not only built a multifamily portfolio using their own money, but did so starting with a severe disadvantage.

Both Sofia and her husband were high school dropouts, living without much money, and practically no experience. A local entrepreneur took Sofia and her husband under his wing, teaching them both how to become leasing brokers. From there, they started building their entrepreneurial endeavor, eventually selling their business a couple of decades later for a whopping billion dollars.

With cash in hand and real estate experience under their belt, they began buying apartment complexes to flip them as condos. Once the recession hit, Sofia knew this was the wrong business to be in, so she pivoted heavily towards multifamily rental investing, specifically investing in “core deals”. Now, she has a streamlined process for finding deals, buying deals, and screening tenants. She gives some out-of-the-box, but highly useful tips on tenant screening, property management, and why “value-add” real estate isn’t all it’s chopped up to be.

In This Episode We Cover:

“Core deals” explained and why they often beat value-add properties

What are cap rates and why understanding them is crucial when buying multifamily

Condo conversions and the risk of flipping during downtimes in the economy

Tenant screening tips that will get you the best tenants who pay on time, every month

The right way to do property management and why you shouldn’t immediately outsource

How to buy in the right real estate markets, plus the metrics Sofia looks for when investing

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Steer Clear of Social Media Scams

Should You Self-Manage Your Properties or Hire a Pro?

The Beginner’s Guide to Buying Your First Multifamily Property

Should You Raise Private Capital for Your Next Investment Project?

Books Mentioned in the Show

ABCs to Real Estate Investing by Ken McElroy

Think and Grow Richby Napoleon Hill

Connect with Sofia

Sofia's Instagram: @officialsofiacastro

Sofia's LinkedIn

Sofia's Facebook

Sofia's Website

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-623

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

622: 7 Expert Negotiation Tactics That Will Put a Buyer/Seller/Tenant on Your Side Jun 14, 2022

Show notes

The secrets to negotiation are often simpler than you think. There’s no double-talk, bribing, or harshness necessary to get what you want. If you know what the other side wants (which you probably do already), you’ll most likely have enough to negotiate successfully. So why aren't most people winning negotiations? Well, when everyone is buying or selling to get the most they can, it’s often the people who create wins for their opponents that come out on top.

David Greene would know this. He’s one of the top real estate agents in the country and is the host of the biggest real estate podcast around (that’s us!). His new book, SKILL: A Top-Producing Agent’s Guide to Earning Unlimited Income, is more than a handbook for real estate agents. This book also details how almost anyone investing in, buying, or selling real estate can win negotiations easily.

David spends time today outlining the seven negotiation tactics he has used in the past to lock down deals for buyers, sellers, and himself. You’ll hear real-world examples of when David and co-host Rob used these tactics in their own investments plus exactly how to formulate each of these tactics so you can ultimately get what you want.

In This Episode We Cover:

Price anchoring and how adjusting a baseline can secure a quick win early in a negotiation

Staying likable, yet stern, in a negotiation so the opponents want you to win

Persuading opponents that your desired outcome is actually in their best interest

Redefining the value you bring and showcasing it in an undeniable way

Building a negotiation scarecrow that becomes the enemy (so you don’t!)

Reigning in FOMO when working with buyers or sellers in a hot housing market

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

3 Not-So-Obvious Secrets to Masterful Real Estate Negotiation

Invest with David

David’s Ted Talk on Building Skills

Books Mentioned in the Show

SOLD by David Greene

SKILLby David Greene

BRRRR by David Greene

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-622

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

621: Seeing Greene: Is Paying Off My Mortgage Early a Mistake? Jun 12, 2022

Show notes

Paying off your mortgage early—to some people, this sounds like a dream scenario. But to others, it could be a cash-tastrophe. We can already hear real estate investors yelling out “always use leverage”, “what about the low interest rates!?”, and “you can scale so much quicker!” Like many real estate investors, David Greene knows the power of leverage and loans to buy rental properties faster. But, it’s safe to say that for some people, paying off a property or buying a home in cash may be a much smarter move.

Welcome back to another episode of Seeing Greene where David answers questions directly from BiggerPockets listeners and viewers on YouTube. This time around, we have some seriously useful questions being answered for the new investor. These questions range from when to take out a loan and when to pay off a property, how to get started in real estate in your early twenties, how to build more cash flow as your expenses increase, how to get a HELOC on your rental property, and how to raise money for a down payment. All these questions (and more) are coming up!

In This Episode We Cover:

Weighing the pros and cons of leverage when investing in real estate

How to start investing in real estate without a ton of money or experience

Why it’s so difficult to get HELOCs (home equity lines of credit) on rental properties

Real estate bookkeeping and how to keep all your accounts up to date

How to finance your down payments so you can buy rental properties faster

Getting preapproved for a mortgage even if you have a 1099 income

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Get Your Tickets to BPCon2022

BiggerPockets Money Podcast

Work with David’s Team on Your Next Mortgage

Books Mentioned in the Show

SOLD by David Greene

SKILL by David Greene

The House Hacking Strategy by Craig Curelop

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-621

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

620: Ed Mylett Foresees Huge Opportunity for “Small Investors” in 2022 Jun 09, 2022

Show notes

Ed Mylett knows the housing market. He’s participated in real estate investing for decades and has become wildly successful thanks to his tenacity, relationship-building skills, and creativity when getting deals done. But, funnily enough, Ed Mylett isn’t most well known for his real estate investor prowess—he’s known for his mindset-shifting, world-changing ideas when it comes to personal development, discipline, and entrepreneurship.

In Ed’s newest book, The Power of One More, he talks about the small tweak that anyone can make to become many multiples more successful. In essence, every extra push-up, cold call, and hug to your spouse or child is the exact thing that puts you above the rest. It’s not about putting in the effort, it’s about putting in more effort than the average person would. This not only applies heavily to real estate investing but to any goal we set.

David and Rob get the opportunity to talk to Ed about his book as well as his sentiment towards today’s housing market and what deals he’s doing in the background. You may be surprised to hear it, but Ed is incredibly bullish on real estate investing for a few good reasons. He gives a simple yet incredibly practical explanation for why this year is surprisingly the best time to get into real estate investing in a long time.

In This Episode We Cover:

How the power of “one more” can change everything about your life

Why committing to your standards is arguably more important than goal setting

How collective psychology is driving the market to new places (and how to escape its grasp!)

Why investors must start “evaluating their income streams” instead of just their properties

The “most crazy deal” Ed has ever done and why it’ll be a first of its kind

Building the confidence you need to accomplish your dreams and create a life you love

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Check Out the “On The Market” Interview with J Scott

6 Things You’ll Need When Getting Into DIY Landlording

Start Landlording Smarter with Avail

BiggerPockets Podcast 433

BiggerPockets Podcast 600

The World’s Least-Followed Investment Advice (& How it Can Make You a Millionaire)

6 Empowering Strategies to Conquer a Paralyzing Fear of Failure

Books Mentioned in the Show

The Power of One More by Ed Mylett

Nothing Down by Robert Allen

Connect with Ed:

Ed's YouTube

Ed's Instagram

Ed's Podcast

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-620

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

619: BiggerNews June: Why "DIY Landlords" Will Win in a Recession w/Laurence Jankelow Jun 07, 2022

Show notes

What do DIY landlording and inflation have to do with each other? Surprisingly, much more than you would think. As the year progresses and the housing market stays hot, more real estate investors are having trouble finding cash-flowing deals. At the same time, the tenants in those properties are seeing the price of their gas, groceries, and rent shoot up. Are tenants going to be left with enough money to pay rent every month? And if not, what will everyday landlords do to keep their properties?

These questions are best left to someone who not only has experience owning and managing rental properties but helping others do the same. Laurence Jankelow, co-founder of Avail, one of the leading property management software picks, is here to talk about the future of the DIY landlord, especially in 2022. Laurence has seen the trends on who’s increasing rent, who’s not, and how many cash-flowing deals are on the table.

Laurence, David, and Dave all take time to debate what the next year will look like for landlords and renters alike. If there is a recession around the corner, how can investors keep themselves in a strong position? What is the first expense new landlords should cut if their cash flow starts to dwindle? And what real estate trends are we seeing in today’s market that you can get ahead of? All these questions (and more) are answered in this month’s BiggerNews episode!

In This Episode We Cover:

Are we heading towards a recession, and if so, how do we prepare?

How software like Avail has made “DIY Landlording” the standard for new investors

The biggest challenges investors will face in 2022 and how to combat them

How would a recession affect the housing market (even as demand is high)

The best money-saving tips for DIY landlords and real estate investors

Inflation’s effect on asset prices and pivoting in your investing strategy

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Check Out the “On The Market” Interview with J Scott

6 Things You’ll Need When Getting Into DIY Landlording

Start Landlording Smarter with Avail

Laurence's BiggerPockets Profile

Dave's Instagram

Book Mentioned in the Show

Rich Dad Poor Dadby Robert Kiyosaki

Connect with Laurence:

Laurence's Email

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-619

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

618: Seeing Greene: Is My Property Manager Skimming Off the Top? Jun 05, 2022

Show notes

Property management is a crucial part of your real estate investing business. They make repairs, take tenant calls, and most importantly, collect rent. But what happens when your property manager stops contacting you, forgets to send signed leases, and doesn’t send you your rent checks? When is it time to start worrying and how do you go about asking a property manager for your money back?

Welcome back to Seeing Greene, where your expert investor, agent, lender, and podcast host, David Greene, answers some of the most commonly asked real estate investing questions. In this episode, we take both video and written submissions and throw them at Dave to get his time-tested take. You’ll hear questions like, whether to pursue a business or buy rental properties, when to sell an investment property to reinvest profits, how to look for joint venture partners, and what to do when you’re concerned about your property manager’s performance.

In This Episode We Cover:

When to start a business or buy a rental property (and how to do both)

Why ROE (return on equity) beats ROI (return on investment) in 2022

What to ask a potential partner to see if they’re a good fit for a joint venture deal

How to score lower interest rates on mortgages as a self-employed investor

When and which rental property repairs to prioritize after a home inspection

What to do when you suspect a property manager may be skimming off the top

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Get Your Tickets to BPCon2022

Stay Tuned for Our Upcoming Episode with Ed Mylett

Attend a David Greene Meetup

5 Red Flags to Watch For When Hiring a Property Manager

Book Mentioned in the Show

Long-Distance Real Estate Investing by David Greene

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-618

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

617: Why Every Great Investor Should Ask, “What Pisses Me Off?” w/Rich Fettke Jun 02, 2022

Show notes

Single-family rentals are where most real estate investors start. In one way or another, a new investor realizes that there is more to life than just their job. They save up, get educated, and buy their first rental property. Those who do well repeat the process, slowly growing their portfolio to double-digit numbers. But, at a certain point, they realize they can’t go any further with the system they’ve set up for themselves. What should they do?

Rich Fettke, co-founder of Real Wealth, and author of The Wise Investor, fell into real estate accidentally. Over the years he’s had to fine-tune his system, scale his team, and learn how to become not only a successful investor but a successful leader. Now, he runs one of the premier real estate investing websites on the internet, manages three syndications per year, and still individually invests in rental properties.

Thanks to his track record of more than two decades, he knows what does and doesn’t work when trying to scale your real estate portfolio. Most importantly, Rich knows who to hire onto your team so you can continue to build wealth, without having to do all the work yourself.

In This Episode We Cover:

Where new investors should look to purchase their first investment property

How to scale from single-family rental properties to syndication deals

Why most investors “trap” themselves without a scalable team

Turning challenges into adventure and shutting down the “inner gremlin”

Asking yourself, “what pisses me off?” when defining your company’s core values

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Real Wealth Network

The Simplest Way to Successfully Scale Your Business

Syndications—Everything You Need to Know BEFORE You Invest

Books Mentioned in the Show

Think Again by Adam Grant

The Book on Rental Property Investing by Brandon Turner

The Wise Investor by Rich Fettke

BE 2.0 (Beyond Entrepreneurship 2.0) by Jim Collins

Connect with Rich:

Follow Rich on Instagram

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-617

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

616: Making Money in The Metaverse and The Future Of Digital Real Estate w/Ryan Pineda May 31, 2022

Show notes

If you’ve heard of digital real estate, there’s a good chance you’ve watched one of Ryan Pineda’s videos. Ryan is a leading figure in the world of real estate investing not only in the Las Vegas, Nevada area but throughout the interwebs. He got started flipping homes and eventually scaled his business up to 100 flips per year! Since then he’s branched off into multiple different real estate-related business ventures, but his newest one may be the most revolutionary.

During the lockdowns of 2020, Ryan began to research blockchain, cryptocurrency, and decentralized finance. He saw the way that the world was moving and realized it would only be a short amount of time until real estate transactions were regularly done on the blockchain. This dip into DeFi piqued his interest, so he began researching, investing, and putting more of his time into virtual and digital real estate research.

Ryan makes a strong case as to why most real estate services will move over to a blockchain model, and those that don’t will be left in the dust. Most of what Ryan preaches isn’t just speculation—it’s happening right now in the real world. If you want to get ahead of the curve, or just finally understand what an NFT is, Ryan is the guy to listen to.

In This Episode We Cover:

Starting businesses that help scale and optimize your rental property portfolio

How blockchain could end the title company industry and what investors need to know

Raising private capital and selling properties with decentralized finance

NFTs and using them to split shares/ownership in a real estate syndication

Combining digital and physical real estate investments for maximum diversification

What a blockchain beginner can do to get their start in the virtual investing world

And So Much More!

Links from the Show