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:

403: Developing a Millionaire’s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason Drees Sep 27, 2020

Show notes

Whoa.

Today we have the man Brandon credits with helping him "go big" in business and life: his performance coach, Jason Drees. In fact, Jason works with a bunch of real estate investors... and today he shares tools for getting your mindset right and getting out of your own way as you grow your portfolio!

You'll love hearing Jason explain what a coach does, how he worked with Brandon to turn a weakness (fear of fundraising/rejection) into a strength ($10M+ raised in 2020), and the reason why some of his clients are thriving despite COVID-19.

Plus: about halfway through, there's an absolute gem when the guys discuss the planning models they use to attack challenges. Jason suggests a small but powerful mindset shift, and we're not exaggerating when we say this one tip may cause you to rethink your whole plan... and unleash new potential you didn't know you had!

This is a real, vulnerable episode where both Brandon and David both discuss holding onto identities and beliefs that no longer served them. So what did you think? Let us know in the comments at biggerpockets.com/show403, or in a review on Apple Podcasts.

In This Episode We Cover:

Common ways real estate investors self-sabotage
How Brandon got around his discomfort with raising private money
How our mindset influences our emotions
The BIG difference between the "Decide, Plan, Commit" model and the "Decide, Commit, Plan" model
Avoiding goals that are too specific
Thinking like a millionaire
How to feel empowered in the midst of COVID-19
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show403

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

402: Identifying Your Best Market, Neighborhood, and Property in 8 Steps with Brandon and David Sep 24, 2020

Show notes

When it comes to pulling the trigger on a rental property, what we have is a "paradox of choice." So. Many. Options. It's easy to suffer from Fear of Missing Out, and it's even easier to get overwhelmed by the vast array of options out there.

That's where today's show comes in: press play, and Brandon and David will guide you through an 8-step process to closing on that first (or next) rental property.

Along the way, they share the tools (BP Insights) and team members ("Core Four" and more!) they use to guide decisions about where and how to deploy their capital.

Your action steps start with clarifying your goals, then we move to comparing markets and sizing up different neighborhoods using school district ratings and crime data.

Next, we tackling finding a deal – whether you're using an agent, a wholesaler, turnkey provider, or going off-market yourself... and how to avoid getting into trouble by "trusting your gut and hoping" when you're in an unfamiliar territory.

If you invest out of state, should you fly out? What about systems and standard operating procedures once you've got a tenant in the property? We answer all those questions, and more.

Finally: We mention it a few times in this episode, and if you want to take advantage of our awesome new Pro benefit, BPInsights, use the discount code BPDATA for 20% of a Pro Annual membership.

You'll get access to exclusive BPInsights Facebook group, a bonus webinar showing you how to use this platform to identify a market, and a bunch of other great Pro benefits including unlimited calculator use. Oh, and be sure to use that discount code before it expires on October 1st, 2020!

In This Episode We Cover:

Comparing the Cashflow vs. Appreciation potential of various markets
Rent-to-Price and "Rent-to-Income" ratios + other indicators
How to find market rents, crime data, and school district info
The one team member you should seek out to double-check your assumptions about a neighborhood
Various types of deal finders and the pros and cons of working with each
What to consider when working with turnkey providers
Using BPInsights data in your quest for a property
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show402

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

401: Follow these Steps to Get People to Know, Like, and Trust You with Jordan Harbinger Sep 20, 2020

Show notes

Welcome to the brand new Sunday edition of the show – where we go beyond tactics and focus on the "mind game."

In this premiere episode, you'll learn about the easy, free practice that might just be the highest ROI use of your time... and there is no one more qualified to teach this than Jordan Harbinger.

Jordan brushes aside common myths about transactional "networking" using business cards or annoying LinkedIn messages. Instead, he shares the proven system he's used to build a world-class network. In fact, Jordan's strategies are so effective, the CIA and MI6 intelligence agencies hired him to teach them to their agents!

So, how does this apply to real estate investing? Well.. what would it be like to have a solid stable of connections to mentors, private lenders, and people who actively look for opportunities for you? We're talking about people who you know would pick up your call. This show breaks down exactly how you can build those kind of relationship without changing your personality – even if you think you don't have a ton to offer the other person.

Here's our challenge to you: put just one of these strategies into practice in your business this week, and see what happens. Hit us up on Instagram (@beardybrandon and @davidgreene24) to show us you did it! And remember, without committing to a system and following up, you won't get results.

Let us know what you think of this new iteration of the BiggerPockets Real Estate Podcast. And if you're interested in more conversations like this, check out Jordan's podcast, the Jordan Harbinger Show, wherever you listen to us.

In This Episode We Cover:

Why intentional networking is so crucial for real estate investors
How to take full advantage of your time at real estate meetups
His "Connect 4" system for reengaging with 4 people ("weak and dormant ties") each week
How to generate social capital
How to avoid strictly transactional relationships
The right way to introduce two people to each other over email
Developing confidence and overcoming shyness to succeed in the business world
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show401

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

400: “This Advice Changed My Life” with Brandon and David Sep 17, 2020

Show notes

Over 400 episodes, we've absorbed a lot of hard-won real estate investing wisdom from our guests. Pretty tough to boil down to 10 concepts... but that's exactly what Brandon and David set out to do on today's show!

You'll hear them outline each principle, cite the person they learned it from, and bring it to life with real-world examples from their own investing experience as well as those of previous guests.

It's a fitting tribute to a major milestone for the show, and we hope it inspires you to revisit some classic episodes and implement this advice in your own business right away.

Thank you for supporting us; we sincerely appreciate you. If you like what we do, can we ask you to take 30 seconds to leave us a rating and review on Apple Podcasts? Every single one helps, and seeing your feedback motivates us to create more value on the road to episode 500!

In This Episode We Cover:

Playing "great defense" with your spending
The danger of jumping the gun with the wrong tenant, deal, or partner
Focusing on one niche until you're a master
Asking yourself exactly what you need to achieve your vision
Ways your ego can cost you money in real estate investing
Tracking results and constantly improving
Only investing in assets you know well
Why you should strive to be great at your day job
Why bigger deals aren't necessarily more harder
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show400

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

399: Solving the Investor/Contractor Relationship with Jeff Thorman of HomeRenovisionDIY Sep 10, 2020

Show notes

Today we’re swerving a bit from tradition to bring you a guest who is not a real estate investor. Jeff Thorman spent years as a general contractor, built his own company, then started his own YouTube channel, HomeRenovisionDIY, to teach people how to renovate their own homes.

Learn from his years of experience renovating in this episode. Jeff brings us incredible tips on building strong relationships with contractors - from inquiry to project close. We discuss the importance of using quality materials in any project. We even dive into some projects you should absolutely be able to do-it-yourself as an investor. As a real estate investor, you will have to complete renovation projects at some point - use this episode to make sure those projects are seamless and successful!

In This Episode We Cover:

Learning the contractors’ perspective
The importance in using quality materials and building long-term solutions in your properties
Shopping directly from suppliers to save money on big rehab projects
Creating systems to retain quality contractors
Understanding the real cost of low-cost materials
Upgrades to improve your rental property and decrease vacancy
How to ask a contractor to walkthrough a project before you buy it
How to spot houses with cosmetic fixes vs. big, expensive projects
Newbie DIY projects anybody can tackle
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show399

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

398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl Yarber Sep 03, 2020

Show notes

When Tarl Yarber last appeared on the show (#189), we got a behind-the-scenes look at his monster house flipping business.

He was doing a lot of volume, but here's the catch: he was stressed out and unhappy. Plus... with zero rentals to his name, he had to keep spinning the hamster wheel – "feeding the machine" – to make any money.

Today's show is about a big mindset shift, and the systems and teams Tarl put in place to create a business that truly serves him, rather than the way around... and allows he and his wife to travel 200 days a year while working on his business rather than in it.

We cover a lot of topics here, from high-level success principles to the specific real estate investing actions you can take – today – to adopt a more intentional and focused approach to building longterm wealth.

Lastly – Tarl's an exceptional networker, and the guys discuss the importance of meeting up with other rockstar investors even if the pandemic is preventing you from doing it in person.

So... how do you do that?

Well, Tarl's hosting a virtual conference September 18-19, and he's offering a 50% discount to BiggerPockets Pro members (check your email). This isn't a series of webinars, either... You'll be able to actually meet up with other attendees through online breakout groups, so it solves for the biggest challenge most investors are facing right now.

Follow this link to http://virtualwealthexpobp.com/ to snag your ticket today!

In This Episode We Cover:

The many advantages of the Buy, Rehab, Rent, Refinance, Repeat (BRRRR) Strategy
Creating multiple exit strategies when BRRRR'ing
Why sketchy tax deductions can hurt your longterm wealth
Designing your real estate investing strategy to fit your desired lifestyle
How Tarl and his wife mapped out their vision on butcher paper
Making a "To Do" List and a "To Don't" List
Why businesses need to be able to "scale down" in times like these
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show398

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

397: Live Calls! A Travel Nurse, a College Student, a High-End Flipper + More BP Members Put Brandon, David, and J Scott on the Hot Seat Aug 27, 2020

Show notes

In today's episode we open up the phone lines again to field your real estate investing questions... and for an added twist, we bring in the familiar voice of author, BiggerPockets Business Podcast host, and house flipper/investor extraordinaire J Scott.

You'll hear callers chime in with questions like: 1) "Help me get started" 2) "should I partner with family members?" 3) "How do I transition from single family to multifamily" – and much more! From refinancing and the finer points of BRRRR... to mentorship and long-distance investing... It's all here!

Tell Brandon and David what you think of this new format in the show notes at biggerpockets.com/show397. We want to hear from you, too!

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

396: Post-COVID-19 Investing and Landing Great Deals at Auctions with David Osborn and Aaron Amuchastegui Aug 20, 2020

Show notes

No one knows where the real estate market is headed next... but with an estimated 30 million Americans out of work, wouldn't you like to know how to buy foreclosed properties, step-by-step?

That's what you'll learn today, from two investors who have completed over 1,000 deals each: David Osborn and Aaron Amuchastegui. They begin the show by sharing their thoughts on today's economy (hint: they've kept plenty of cash cash on hand), then walk us through their 5-step process for successfully bidding on foreclosed properties at auction.

From building a list of properties, to lining up funding, to checking title and actually making your bid, you'll learn how David and Aaron (+ thousands of other investors) built serious wealth buying up distressed properties after the last big crash. This skill set is another tool to add to your tool belt, and whether there's another wave of foreclosures coming or not, you can use it to build serious wealth.

For more, pick up a copy of David and Aaron's new book, Bidding to Buy: A Step-by-Step Guide to Investing in Real Estate Foreclosures. And check out the show notes at biggerpockets.com/show396 for a transcript and other resources.

In This Episode We Cover:

The impact of COVID-19 on various assets
Why David Osborn is keeping a heavy cash position
How the foreclosure process works (notice, etc.)
What a foreclosure auction (sometimes called a "trustee sale") is
The 5 Steps to buying at auction
Why it's so important to drive by every property you plan to buy
Aaron's first auction experience as a newbie
How to deal with a lien on a property
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show396

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

395: From Car Valet to $100k/Month... Seriously! with Thach Nguyen Aug 13, 2020

Show notes

Today: a no-excuses, American Dream story that will get you fired up to go hunt down a deal!

Thach Nguyen is an investor and agent in the Seattle, Washington area. When he was a kid, his family fled Vietnam for the U.S... he later parked cars at a Chinese restaurant... and despite becoming a top-producing agent building a monster portfolio of paid-off rental properties, he's still hungry and shows no sign of slowing down.

In today's episode, Thach (pronounced "Thatch") shares the lessons he learned during the Great Recession, his criteria for buying a "perfect BRRRR"... and why he says there's no shame in living with mom and dad to save money!

Plus, the guys discuss the pros and cons of paying down mortgages, the psychological advantage of owning your primary residence free-and-clear, and Thach's favorite (free) lead generation strategy.

We think you'll love Thach's energy; he thinks big and will motivate you to do the same. Give him a follow (IG: @thachnguyen) and let us know what you think of this episode!

In This Episode We Cover:

How Thach created $100k/month (!) in rental income
Why he's focusing on the affordable housing niche
Buying townhouses in Seattle, WA
Buying a "micro-apartment" building in Oakland, CA
And SO much more!

Links from the Show

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

394: Making a 25 Deal/Year Business (and Marriage) Work... Together! with Elliot and Chrissy Smith Aug 06, 2020

Show notes

Ever considered partnering up with your spouse or another family member?

Today's guests Elliot and Chrissy Smith did just that when they left stable careers to flip, wholesale, and buy rental properties together in Washington state.

Running the business together wasn't easy on their marriage. In fact, they almost got divorced. Fast forward to today... they're happy, doing 25 deals/year, and building long-term wealth by steadily buying rental properties.

So, what adjustments did they make?

In this episode Elliot and Chrissy share what they've learned about defining roles, managing cashflow, and finding work-life balance as young parents who happen to be business partners. It's a rare inside look at the ups and downs – and risks and rewards – of running a true family business.

As die-hard fans right remember from his appearance on Show #255, Elliot is a skilled negotiator... and today he shares a surprisingly simple negotiating tip for those nerve-wracking kitchen table conversations with homeowners.

Look: you gotta love a couple who hires a babysitter just so they can drive around looking for distressed properties (a move which led to today's Deal Deep Dive). So check out this episode, and share it with your spouse, friend, or family member who you think might enjoy it!

In This Episode We Cover: