Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That?s what The BiggerPockets Podcast delivers.
Co-hosted by Brandon Turner, David Greene, and BiggerPockets founder Joshua Dorkin, this podcast provides actionable advice from investors and other real estate professionals every week. The show won?t tell you how to ?get rich quick? or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people.
Start listening and join the 1.3 million members who are learning to invest! Visit biggerpockets.com, and follow us on Instagram (@biggerpockets, @beardybrandon, @davidgreene24, @jrdorkin) and Twitter (@BiggerPockets, @BrandonAtBP, @DavidGreene24, and @jrdorkin).
Have you ever bought a whiteboard or a journal and thought, this is it... This is the moment when I REALLY commit to goal-setting... and then (as it tends to do) life just kind of gets in the way?
This episode is about rethinking your approach to goals ? and to do this, we've brought in an expert on managing your time and mental energy like a billionaire: Geoff Woods, VP of The One Thing and facilitator of their upcoming virtual goal-setting retreat
Today, Geoff shares the blueprint that high-performing couples, teams, and individuals use 1) cast a shared vision of the future 2) work backwards to map out important steps, and 3) regularly recalibrate and track progress. Plus, we put this to the test, live!
About halfway through the episode, you'll meet Matt and Melissa Miller ? married parents of 3 who own 7 units but are struggling to define their exact vision... and the action plan required to realize it. Geoff leads them through a goal-setting exercise live, and the result is inspiring and surprisingly emotional. #MarriageGoals - literally!
Whether you're looking to get on the same page as a spouse, business partner, or just chart out a clearer path for yourself... you'll get a ton of value out of this episode. Let us know what you think of it, and use the link below if you're interested in joining Geoff (and Brandon and Heather Turner!) at the retreat next month.
In This Episode We Cover:How billionaires set goalsWhat to do when your spouse or partner is not a natural goal-setterHow to have an ongoing relationship with your goalsA live goal-setting exercise with a real estate investor couple, Matt and MelissaDefining whose lane is whose when running a business with your spouse or partnerWhat happens at a goal-setting retreatGeoff's personal story of leaving medical sales to work with Gary Keller and Jay Papasan
Links from the ShowBiggerPockets PodcastVirtual goal-setting retreatThe 1 thing WebsiteThe 1 thing podcast
Click here to check the full show notes: http://biggerpockets.com/show411
What does it take to pull off a home run real estate deal?
Today, we put that question to Ken Corsini, HGTV star and author of Profit Like the Pros: The Best Real Estate Deals That Shaped Expert Investors.
Ken spoke to a diverse group of 25 investors about their very best deals, and in this episode he breaks down the common threads that run through each of those stories.
You'll also hear Ken's tips for building your own personal brand in your market, and how he used his "Flip or Flop Atlanta" fame to build a brokerage and mortgage company.
Throughout this episode, Ken points you to individual investors in the BiggerPockets community; be sure to check out their BP profiles to learn more... and pick up a copy of the Profit Like the Pros in the BiggerPockets store today.
Every format includes a bunch of great bonus materials, including a breakdown of 22 investors' worst deals ? so you can avoid the same mistakes.
In This Episode We Cover:How personal connections often lead to home run dealsHoning in on a specific niche and building expert knowledgeHow one deal can change the trajectory of your careerKen, David, and Brandon's personal best/favorite dealsCommon traits of the worst deals featured in Ken's bookHow Ken built a personal brand, then spun it into different businessesHow he controls each aspect of his real estate transactions (title, lending, etc.)And SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPocketsFlip or Flop AtlantaBest Deal Ever (Youtube Series)BiggerPockets Podcast 339: 60,000 Tenants?! How Frank Rolfe Built a Mobile Home EmpireBiggerPockets Podcast 405: Investing in the Only True Recession-Proof Asset: Yourself! with Lewis HowesBiggerPockets Podcast 235: How to Find and Fund Real Estate Deals with Anson YoungBiggerPockets Podcast 401: Follow these Steps to Get People to Know, Like, and Trust You with Jordan HarbingerBiggerPockets Podcast 329: Financial Freedom Before 30 Through Just 10 Deals With Felipe MejiaSelf Storage Properties at Pennies on the Dollar with Stacy RossettiReal Estate Rookie Podcast
Check the full show notes here: https://www.biggerpockets.com/show410
Today's a special episode featuring the author of a book we can't get enough of: Bluefishing: The Art of Making Things Happen by the man, the myth, the legend - Steve Sims.
Who is Steve, anyway? Well, he's a former bricklayer and bouncer-turned-entrepreneur who uses a unique mindset and blend of skills to creates once-in-a-lifetime experiences for billionaire clients.
Experiences like: getting married by the Pope in the Vatican, having a private dinner at the feet of Michaelangelo's David statue, or going on an underwater tour of the Titanic shipwreck.
And here's the thing: as you'll hear in this episode, Steve's not a silver-spoon, high society type. He's just a regular guy who chooses to think and act differently, consistently. And after this episode, you'll be able to "Bluefish" your way into more relationships, more private money, and ultimately more deals!
We talk about "leading with value" when approaching mentors... blah blah blah. Today, you'll hear a refreshing new twiston that concept, and learn actual tactics you can put into practice to make more connections and level up your life today.
One final note: Steve uses some colorful language in this episode; please take note of the "Explicit" label, and listen to this one when the kiddos aren't in the backseat :)
In This Episode We Cover:How Steve went from bricklayer to bouncer to building a business that makes people's dreams come trueWhat "Bluefishing" isDigging deeper to find your customers' true motivationThe one thing Artificial Intelligence can't replaceWhy it's often better to remove ? rather than solve ? problems in your businessHow to chase your own dreams, not someone else'sWhy social media "influencer culture" often leave you feeling empty and unhappyStories of working with clients ranging from Elon Musk to The Pope
Links from the ShowBiggerPockets PodcastBluefishingSpaceX
Click here to check the full notes: http://biggerpockets.com/show409
Ever wonder how your family would manage if you or your spouse lost your job? Emma Powell faced that reality head-on. She knew she needed "full-time income" while continuing to spend time with her family... and she knew real estate investing would be the vehicle to get her there.
Today Emma shares her journey from part-time photographer to multifamily dealmaker ? how she got in the game by joining a REIA and immediately loaning money to an experienced investor (we discuss the right and wrong way to do this); her #1 piece of advice when meeting with a potential mentor; and her foray into the world of lease option ("rent to own") deals.
Plus ? Emma shares her perspective on how to choose a niche that suits your strengths (wholesaling wasn't for her; syndication and bigger commercial deals were a better fit).
This is an inspiring story of someone who experienced a financial wake-up call, and went from total rookie to syndicator in just a few years... all while homeschooling 6 kids. Enjoy this one, and we'll see you again on Sunday!
In This Episode We Cover:Emma's reaction to her husband being laid off from his tech jobWhat a Real Estate Investor Association (REIA) Meeting isHow she's found nearly all her deals by simply networkingDue diligence when loaning money to an investorWhat lease options areWhat a "due on sale" clause isClosing a great deal after a seller was burned by wholesalersHer passive income goals for the futureAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPocketsReal Estate Investment AssociationThe Real Estate Syndication Show5 Hour School WeekBiggerPockets Podcast 325: From Major Business Failure to Buying 20 Houses a Month With Aaron AmuchasteguiBiggerPockets BlogsBiggerPockets Webinars
Check the full show notes here: https://www.biggerpockets.com/show408
Want to think like a high-level investor and business owner who is seizing the moment and enjoying his best year ever? Listen up!
Former Oakland A's baseball player (and show 292 guest) Ryan Pineda steps back up to the plate today... and he delivers a detailed breakdown of how he's using TikTok, Youtube, billboards, and TV commercials to generate an avalanche of leads in the Las Vegas, NV market.
Ryan's team flips and wholesales 100 houses a year... but because he's set them up according to the EOS/Traction system, he spends just 3-4 hours per week running things!
Sound good? Well, a lot of hard work went it.
And in this episode, you'll hear the journey firsthand: from exactly how each member of Ryan's team handles a transaction, to why they keep a visual scoreboard in the office, to how he had to shift his mindset after realizing he was the bottleneck holding his business back.
In This Episode We Cover:Operating a real estate brokerage, tax company, house flipping business all at onceFlipping 100 houses/year in 3-4 hours/weekHow Ryan attracts deals using TV ads and billboardsWhy he believes influence is the most valuable currency todayFinding the one thing you can't delegateHow he leads a team using EOS system from the book TractionHow structure can actually free your team up to do their best workAnd SO much more!
Links from the Show:The DISC ProfileEOS
Don't this miss one this one, and leave us (and Ryan) a comment in the show notes over at biggerpockets.com/show407.
"Systems, People, and Positive Vibes" are what powers Shelby Osborne's business, and today she breaks down exactly how she's used those 3 forces to go from 0 to 51 units in just a few years.
Shelby shares how she boils everything down into checklists and automated reminders, so she can focus more energy on revenue-generating activities.
Plus, she shares a combination word that's right up there with "liger," "bromance," and "Bollywood": the "BRRRR-nB." In her Deal Deep Dive, she reveals how she picked up a foreclosure property, transformed it into an Airbnb to generate big-time cashflow, and expects to pull all her money out so she can do it again and again!
A former U.S. Army captain, Shelby is a serious go-getter and you won't help but be energized by her "no excuses" approach to life ? colorful language and all ;) Oh, and before you leave this page be sure to check out her checklist for startup your own real estate meetup below! (If you can't see it on your phone, head over to biggerpockets.com/show406.)
In This Episode We Cover:How Shelby transitioned from Army life to real estate agent and investor lifeHow she finances her deals with a combination of bank loans, hard money, private money and lines of creditThe details of her ongoing "BRRRnB" dealHow she saves time by using email templates and automated follow-up sequencesHow to set up your business to run on autopilot so you don't have to rely on your (unreliable) brainBuilding a community to attract talented people with positive attitudesAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Wealth MagazineBiggerPockets InsightsMyers & Briggs TestThe DISC ProfileOpen Door CapitalFind Real Estate AgentsPints and Properties MeetupBiggerPockets Podcast 396: Post-COVID-19 Investing and Landing Great Deals at Auctions with David Osborn and Aaron AmuchasteguiAirBnbThe Incredible Power of Long-Distance BRRRR Investing with Alex Felice
Check the full show notes here: http://biggerpockets.com/show406
Do you have fears and insecurities that hold you back from the life you envision? No? OK, well we'll see you next week... But really: this topic gets to the heart of why so many real estate investors quit, fail, or never even get started at all.
Today's guest, Lewis Howes, has been studying these concepts for the past 13 years as host of the hit podcast School of Greatness. It all started as an effort to climb out of a major low point in Lewis' life, when he was broke and sleeping on his sister's couch... having crashed out of a brief arena football career.
In this episode, you'll learn how Lewis learned to hack his self-limiting beliefs by systematically putting himself in situations (Toastmasters, salsa dancing, public speaking) that utterly terrified him. And he shares some practical exercises you can do to achieve greater confidence and self-mastery.
Plus -- as a LinkedIn expert with a far-reaching network of connections, Lewis also opens up about how to effectively network on social media and elsewhere.
Don't miss this weekend episode of the BiggerPockets Real Estate Podcast, and give Lewis a shout on social media you take him up on his challenge to write a mission statement for your life!
As always: if you're enjoying these shows, the best way to show your appreciation is to rate and review us on Apple Podcasts. It really helps us out!
In This Episode We Cover:Climbing out of a hole when he had no money and no marketable skillsOvercoming fear of public speakingTwo practical exercises to confront your biggest fearsThe clarifying power of writing a personal mission statementThe LinkedIn message formula Lewis used when reaching out to powerful peopleChoosing a niche, then a sub-nicheThe 3 magic words that multiply your chances of getting a deal or upgradeThe one common trait shared by all the top performers he's interviewedAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastUSA Men?s National TeamEllen?s ShowThe Today?s ShowLinkedInRookie of the YearLewis's Interview on Jay Shetty's Show On PurposeDave RamseyGrant Cardone on Multifamily Investing and Why You Should Never Buy a House!BiggerPockets Podcast 403: Developing a Millionaire?s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason DreesSweet Martha's Cookie JarKevin Hart on His Secrets to Success and Building an EmpireMonday.comRob BellReal Estate in Your TwentiesBiggerPockets Podcast 365: Ret. Navy SEAL Jocko Willink on Embracing Discomfort and Leading Through Extreme Ownership (+ His Real Estate Investing Tips!)BiggerPockets Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal ElrodBiggerPockets Podcast 254: Tim Ferriss on Real Estate, Becoming a Top Performer and His Tribe of MentorsGary Vaynerchuk on Finding Deals Through Social Media & Crushing It as an Entrepreneur
Click here to check the full show notes: https://www.biggerpockets.com/show405
We frequently talk about networking as a real estate investor: for example, talk to your mail carrier because they likely have seen opportunities in your neighborhood. But what if you are the mail carrier?
Today?s guest, George Gipson, worked for the USPS when he started investing, which seems like the perfect opportunity for finding deals. But as with any start in real estate investing, it isn?t always as easy as it seems.
In today?s episode, we talk about taking action and committing to yourself - to ensure that those key opportunities actually work in your favor. We also talk about how important it is to learn your personal finances before diving into investing, plus how George used house hacking and short-term renting to reach financial freedom at an early stage of his investing. He?s even quit his job at USPS now so he can focus full-time on real estate. This is a real story about getting it done and seeing your own potential.
In This Episode We Cover:Investing that doesn?t meet your standard rules of thumbOvercoming issues that might be deal-breakers for other investorsLiving for free through house hacking and short-term rentingSetting up your short-term rentals for successUtilizing your network to find dealsPushing through your commitment to yourself, even when it isn?t easyFinding the path in life that?s right for youAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets MarketplaceRealtorZillowTruliaBiggerPockets Podcast 393: Campus Maintenance Man to $10M in Real Estate Owned with Rick JarmanBiggerPockets Shirt
Check the full show notes here: http://biggerpockets.com/show404
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-sabotageHow Brandon got around his discomfort with raising private moneyHow our mindset influences our emotionsThe BIG difference between the "Decide, Plan, Commit" model and the "Decide, Commit, Plan" modelAvoiding goals that are too specificThinking like a millionaireHow to feel empowered in the midst of COVID-19And SO much more!
Links from the ShowBiggerPockets ForumsTony RobbinsMy Body TutorP90X DVD Workout - Base KitMatt KahnJay AbrahamJason Drees Coaching JDC Mindset Academy
Check the full show notes here: http://biggerpockets.com/show403
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 marketsRent-to-Price and "Rent-to-Income" ratios + other indicatorsHow to find market rents, crime data, and school district infoThe one team member you should seek out to double-check your assumptions about a neighborhoodVarious types of deal finders and the pros and cons of working with eachWhat to consider when working with turnkey providersUsing BPInsights data in your quest for a propertyAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets Pro discount code: bpdataBiggerPockets InsightsMeet Property Management Extraordinaire, RE Investor & Hotel Owner Jesse McCueBiggerPockets MarketplaceRealtorZillowTrulia5 Markets With Promising Rent-to-Income Ratios: September 2020 Markets of the MonthBiggerPockets EventsBiggerPockets Bookstore
Check the full show notes here: http://biggerpockets.com/show402
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 investorsHow to take full advantage of your time at real estate meetupsHis "Connect 4" system for reengaging with 4 people ("weak and dormant ties") each weekHow to generate social capitalHow to avoid strictly transactional relationshipsThe right way to introduce two people to each other over emailDeveloping confidence and overcoming shyness to succeed in the business worldAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreCraigslistBen HorowitzBiggerPockets EventsBoomerang for GmailSuperhuman EmailsRay DalioMark Cuban
Check the full show notes here: http://biggerpockets.com/show401
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 spendingThe danger of jumping the gun with the wrong tenant, deal, or partnerFocusing on one niche until you're a masterAsking yourself exactly what you need to achieve your visionWays your ego can cost you money in real estate investingTracking results and constantly improvingOnly investing in assets you know wellWhy you should strive to be great at your day jobWhy bigger deals aren't necessarily more harderAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreAndy FrisellaBiggerPockets Podcast 353: Turning $5K Into $5K/Month and Retiring at 40 with Tim RhodeMy Body TutorJosh DorkinBiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe AsamoahBiggerPockets Podcast 362: Big Goals? Here?s How to Get Your Spouse or Partner on Board with Jay and Wendy PapasanBiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay PapasanBiggerPockets Podcast 276: Early Retirement ($10k/Month) by Age 35 with Bryce StewartJames WedmoreBiggerPockets Podcast 330: How to Ditch Distractions and Get WAY More Done With Cal NewportBiggerPockets Podcast 245: Creating Wealth that Lasts Generations with Bestselling Author Ryan HolidayBiggerPockets Podcast 396: Post-COVID-19 Investing and Landing Great Deals at Auctions with David Osborn and Aaron AmuchasteguiBiggerPockets Podcast 328: How to Laser-Focus on the Wildly Important With Author Chris McChesneyBiggerPockets Podcast 246: Surviving the Coming Crash, Earning 20% Returns, and Buying Mobile Home Parks with Kevin BuppBiggerPockets Podcast 262: $600,000 Per Month in Gross Rents from Mobile Home Parks with Jefferson LillyBiggerPockets Podcast 125: The Key to Business Success with Bestselling Author of The E-Myth Michael Gerber
Check the full show notes here: https://www.biggerpockets.com/show400
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? perspectiveThe importance in using quality materials and building long-term solutions in your propertiesShopping directly from suppliers to save money on big rehab projectsCreating systems to retain quality contractorsUnderstanding the real cost of low-cost materials Upgrades to improve your rental property and decrease vacancyHow to ask a contractor to walkthrough a project before you buy itHow to spot houses with cosmetic fixes vs. big, expensive projectsNewbie DIY projects anybody can tackleAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreVirtual Wealth ExpoBiggerPockets CalculatorsHome DepotJoanna GainesIkeacost vs value reportBiggerPockets InsightsMarr Risinger's Youtube Channel
Check the full show notes here: https://www.biggerpockets.com/show399
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) StrategyCreating multiple exit strategies when BRRRR'ingWhy sketchy tax deductions can hurt your longterm wealthDesigning your real estate investing strategy to fit your desired lifestyleHow Tarl and his wife mapped out their vision on butcher paperMaking a "To Do" List and a "To Don't" ListWhy businesses need to be able to "scale down" in times like theseAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets BusinessBiggerPockets BookstoreBiggerPockets Podcast 365: Ret. Navy SEAL Jocko Willink on Embracing Discomfort and Leading Through Extreme Ownership (+ His Real Estate Investing Tips!)Virtual Wealth ExpoBiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl YarberBiggerPockets Podcast 395: From Car Valet to $100k/Month? Seriously! with Thach NguyenThe Notebook
Check the full show notes here: https://www.biggerpockets.com/show398
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!
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 assetsWhy David Osborn is keeping a heavy cash position How the foreclosure process works (notice, etc.)What a foreclosure auction (sometimes called a "trustee sale") isThe 5 Steps to buying at auctionWhy it's so important to drive by every property you plan to buyAaron's first auction experience as a newbieHow to deal with a lien on a propertyAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastKeller WilliamsBiggerPockets Podcast 353: Turning $5K Into $5K/Month and Retiring at 40 with Tim RhodeGoBundanceAuction.comRoddy's Foreclosure ListingAuction TexasBiggerPockets Analysis CalculatorsBiggerPockets Podcast 385: Once Homeless, Now Investing in an Expensive Market (With No Money of His Own) With Greg GaudetReal Estate Rockstar PodcastBiggerPockets Money PodcastReal Estate Rookie PodcastBiggerPockets BusinessBiggerPockets Bookstore
Check the full show notes here: https://www.biggerpockets.com/show396
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 incomeWhy he's focusing on the affordable housing nicheBuying townhouses in Seattle, WABuying a "micro-apartment" building in Oakland, CAAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe AsamoahHow To Start Thinking Like A Big Time Real Estate Investor (Video)Tarl Yarber
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:How Elliot and Chrissy divided their business into "lanes" Their first taste of success with direct mail Leaving full-time jobs to pursue their dreams in real estateDangers to be aware of when teaming up with your spouseShowing a seller the math behind your offerPlowing the cash from their flips into buy-and-hold rentalsUsing the same exact same materials on every flipIncentivizing a contractor by offering a profit shareWhy they've slowed down their marketing in recent monthsElliot's cold call center for real estate investorsAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Podcast 255: Six-Figure Real Estate Investing in Just 20 Hours a Week with Elliot SmithJason DreesBiggerPockets WebinarsTarl YarberAudibleBiggerPockets Podcast 125: The Key to Business Success with Bestselling Author of The E-Myth Michael Gerber
Check the full show notes here: http://biggerpockets.com/show394
Real estate investing... old school!
Rick Jarman (@realestateoldschool on Instagram) joins us today to share some of his hard-won wisdom from 44+ years as a flipper and landlord in Tuscaloosa, Alabama. And it's quite the journey, from cabinet maker and campus maintenance man to cigar-puffing 64-year-old social media influencer!
In this episode you'll hear tales of up markets, down markets, losing it all, getting it all back... and a tornado that wiped out 20 of Rick's 100+ rental houses. He also takes us through his rules for tenant screening, explains why he favors 15-year mortgages, and paints a picture of what it's like to self-manage such a large portfolio of single family homes (with a team, of course).
Give Rick a follow, and if you know someone who'd make a great guest on the BiggerPockets Real Estate Podcast send them over to biggerpockets.com/guest where they can apply to appear on the show.
In This Episode We Cover:How Rick went from maintenance guy to owning 100+ propertiesSelling his truck to buy his first rental in 1981Investing lessons learned through 4 recessionsWhy his rentals saved him when his home building business failed in the late 90sLosing 20+ houses in a tornado in 2011Rick's tenant screening processWhy tenants' credit scores don't tell the whole storyWrapping 40+ houses into one loanWhy some investors "get bored with what works"And SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)BiggerPockets WebinarsCredit Score and FICO QuickbooksFacebook MarketplaceBiggerPockets BookstoreBiggerPockets Shirts and MugsMBA562 Guest Teacher: Brandon Turner- How to (Finally) Write a Wicked-Awesome Book in 100 Days or Less
Check the full show notes here: http://biggerpockets.com/show393
A $1 million net worth before the age of 30... through frugality and creative real estate investing!
That's what Todd Baldwin's achieved in a few short years, riding the red-hot Seattle housing market by repeat house hacking, renting by the bedroom, and living way below his means.
Sure, Todd's benefited from appreciation, but he's also generating monster cash-on-cash returns across his 6 rental properties. And today, you'll learn just how he's doing it: how he finds pocket listings, why he favors new construction, why he pays for a $2,000/month service most landlords would never dream of providing, how he limits roommate drama, and much more.
Wondering if this is legal? We discuss that in detail. Oh, and get this?Todd's all-time vacancy rate? Zero percent. So if you're in a high-priced coastal market, you need to listen to this show. And if you don't, we can pretty much guarantee you'll still enjoy it and pick up a few landlording nuggets along the way.
Know someone who might put Todd's strategy to use? Share this episode with him or her today! And make sure you're subscribed to the show so you won't miss us next week.
In This Episode We Cover:How Todd makes $12K+ in pure cash flow by renting by the bedroomWhy he buys new construction rather than fixer-uppersWhy he pays for all utilitiesThe legalities of renting by the roomThe dangers of buying a property with a homeowner's association (HOA)Using a Tinder-like app to find roommates and tenantsWhy he hires maids to clean each of his 6 properties weeklyHis system for preventing conflicts among roommatesHow complementary skillsets make for great business (and romantic) relationshipsAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastRedfinBiggerPockets MagazineRenthoopBiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe AsamoahGrant Cardone on Multifamily Investing and Why You Should Never Buy a House!Joe Rogan
Check the full show notes here: http://biggerpockets.com/show392
Live calls, Dave Ramsey style!
In this episode we open up the phone (er, Zoom) lines to take audience questions on everything from "should I flip or hold this deal" to "Coronavirus cost me my job... how can I invest now?"
Brandon and David offer also advice on house hacking, Home Equity Lines of Credit (HELOCs), appraisals, and the pros and cons of tapping a retirement account to jumpstart a real estate investing career.
We'll be back to our regular programming next week... but let us know what you think of this format. And if you've got 30 seconds to leave us a rating and review in Apple Podcasts, we wouldn't be mad at that either.
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastRedfinZillowRealtor.comBiggerPockets Podcast 325: From Major Business Failure to Buying 20 Houses a Month With Aaron AmuchasteguiFind Real Estate Agent on BiggerPocketsBiggerPocketsBiggerPockets Podcast 366: 40 Doors in the First 2 Years with Henry WashingtonBrendon Burchard's ShowMy Body TutorThe Essential 11 PodcastBiggerPockets Conference
Check the full show notes here: https://www.biggerpockets.com/show391
From fashion design work in India, to a corporate career with Nordstrom... to leaving that career to flip 40+ houses in 6 years ? all in one of the hottest markets on the planet!
Seattle investor Leka Devatha has quite a story to tell, and a lot of hard-won wisdom too! From her 6 tips for finding and keeping great contractors, to the exact criteria she uses when looking for a flip opportunity, Leka spills the beans and outlines a framework you can apply whether you choose to flip, BRRRR, wholesale, or buy and hold.
We cover a crucial tax tip for anyone hiring a contractor, ever. Leka shares an unexpected silver lining brought on by the pandemic. And your mind will be blown when she tells how a "cosmetic" flip opportunity morphed into 3-year odyssey and wound up rewarding her with a 7-figure (yes, 7-figure) payday.
Give Leka (pronounced "LAY-kuh") a follow on Instagram and let her know if you appreciate this episode... and make sure you subscribe to the show in your favorite podcast app, so you won't miss the next one.
In This Episode We Cover:Flipping 40 homes in 6 yearsA "cosmetic flip" that turned into a 7-figure (!) profit through the magic of subdivisionWhy you should get to know the land use planner in your cityLeka's system for finding and retaining great contractorsHow to start a real estate meetupWhy virtual networking amid COVID-19 is more efficientWhy she pays her broker a commission even if she keeps a house as a rentalLeka's criteria for a great flip opportunityWhat W-9s are and why it's so important to get them signed up frontAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastJason DreesReal Estate at Work (Seattle Meetup)RedfinZillowRealtor.comCaleb Backholm's InsuranceBiggerPockets Podcast 388: The 7-Step ?Playbook? for Scaling Your Real Estate Business With AJ Osborne
Check the full show notes here: https://www.biggerpockets.com/show390
Are you tired of toiling in the trenches... and ready to run a business that cranks out profits without your constant involvement?
That's what today's guest has managed to do! In this episode, Michigan-based investor Mike Simmons shares exactly how he went from moderate success to $1 million in annual profit.
You'll learn why Mike switched gears from flipping to wholesaling real estate, what he's learned from spending hundreds of thousands of dollars on various marketing channels, and the four-point checklist you must use when considering any kind of partnership.
Ultimately, expert marketing tactics are fine and well. But to scale, you've got to master leadership and hiring?topics Mike covers in great detail here and in his new book, Level Jumping.
So pick up a copy (see link below), and share this episode with a friend, family member, or fellow investor who you think would enjoy it!
In This Episode We Cover:Mike's remedy to cure a bad case of "analysis paralysis"Why he switched gears from flipping to wholesalingWhy wholesaling is NOT always a great thing for newbiesThe marketing channels Mike uses to do 100 deals per yearUltra-specific direct mail tips (from a guy who's sent hundreds of thousands of dollars of direct mail!)What most do wrong with direct mail marketingHow he made a $50K assignment fee and the key lesson he learnedHiring and managing transaction coordinatorsHiring his first salesperson on a "straight commission" pay structureUsing personality assessments like DISC and Kolbe when hiringWhy intelligence is not the most important predictor of success in real estate investingAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Podcast 050: Getting Started and No Money Down House Flipping with Mike SimmonsBiggerPockets InsightsBiggerPockets Insights Rent EstimatorGary Vaynerchuk's InstagramGary Vaynerchuk on Finding Deals Through Social Media & Crushing It as an EntrepreneurKOLBE Personality Test
Check the full show notes here: http://biggerpockets.com/show389
Do you dream of stepping back from the day to day and working on your business rather than in it? Of course you do!
AJ Osborne has achieved that goal?and having experienced a harrowing health emergency that incapacitated him for months (see show 286), this Boise, Idaho, investor is ultra-qualified to discuss the value of documenting, delegating, and streamlining your real estate business so it can run without you.
AJ owns and operates over 1 million square feet of self-storage. Today he breaks down the seven-step process he uses to improve operations, unlock hidden value, and scale fast.
If you're thinking, "I don't do deals that big," rest assured: AJ reveals that he actually lost money on his very first deal but gained a ton of wisdom, which he's generous enough to share with us today?and which applies across the board.
Plus, AJ shares a tip on financing deals that may totally change the way you think about growing your portfolio!
Check him out, and pick up a copy of his book, The Investor's Guide to Growing Wealth in Self-Storage: How to Turn a Real Estate Asset into a Thriving Business.
On today's show: the massive impact of just a few flips and a few small multifamily rental properties.
Starting in 2017, that combination allowed our guest Megan Greathouse to step aside from her W-2 job (her husband still works) and spend much more time with her two young kids... all while dedicating just 5 hours per month to self-managing her portfolio in St. Louis.
Want to know how she did it? Megan spells it all out in this episode and provides the exact tools and templates she uses to maximize her efficiency?enabling her business to serve her and allowing more time for what really matters.
Give Megan a follow, and share this episode with a friend, partner, spouse, or family member who you think might enjoy it!
In This Episode We Cover:Starting out with a fourplexInvesting with a full-time job and kidsThe P.R.O.P. system for property managementHow Megan and her husband use the "2 in 5 Rule" to avoid capital gains taxesHow she uses real estate to create time freedom and hang out more with her kidsFlipping an old house near Washington University in St. LouisA BRRRR "fail" (contractor issues) that turned out OKLessons she learned in the militaryThe key to avoiding analysis paralysis: "Get to 80% and go!"Buying a 60-acre farm outside the cityAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets PodcastLandlord Advisory PanelBiggerPockets EventsBiggerPockets MagazineBiggerPockets Money PodcastBiggerPockets Guide in Finding AgentsBiggerPockets BooksBiggerPockets WebinarsBiggerPockets Podcast 100: The 1st Deal, Management Drama, and the Birth of BiggerPockets with Joshua DorkinOpen Door Capital LLCRyan's BiggerPockets ProfileTenantCloudQuickBooksBoomerang for GmailSeth Mosley's Music and Money GroupBrandon's InstagramBiggerPockets ShirtScott Trench
Check the full show notes here: http://biggerpockets.com/show387
Yesterday, Marcus Maloney showed us how he built his deal-finding machine. Today, he tells us how he's hanging onto it by making two big shifts in his business.
When the pandemic hit, lenders got nervous... and that put a couple of Marcus' deals in danger. So did he give up? No! He tapped his own network of private lenders to provide financing to his end buyers?a win-win-win.
Plus, Marcus tells us why he's shifted focus to the Midwest since we first spoke and how he worked out a deal with a "great tenant" who wound up unemployed and unable to pay rent.
Wondering how to adjust your business to the new normal? Check out this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next one.
In This Episode We Cover:The problems Marcus ran into in mid-MarchHow he plugged the gap with private moneyDeveloping relationships with private lenders before you really need themWhy he's concentrating on a lower-priced marketHow he negotiated with a resident who could no longer afford rentAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Podcast 386: Starting Out With $200 and Investing for Profit AND Cash Flow With Marcus Maloney (Part 1, Pre-Coronavirus)BiggerPockets Podcast 352: No Driver?s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 DoorsBiggerPockets WebinarsBiggerPockets Radio Podcast 001: Building a Successful House Flipping Business and Losing Millions with Marty BoardmanBiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)
Check the full show notes here: http://biggerpockets.com/show386-5
From "bad drug dealer" in his youth... to earning a master's degree, then jumping into real estate at age 36 and crushing his first deal!
Today, Marcus Maloney shares his wild ride in Part 1 of two episodes this week. This one was recorded before the coronavirus pandemic, so we don't discuss that topic. Tomorrow, we'll dive into how Marcus pivoted to keep doing deals in these trying times.
In this episode, you'll learn how Marcus used just $200 to launch his career, how he acquired nine rental properties, and how he's completed dozens of local (Phoenix) and long-distance (Chicago) real estate transactions.
He also discusses the strategies he's using to generate leads, how he builds trust with both sellers and buyers, and how he works with acquisition managers, who take a cut of the deals they bring him.
Plus?the guys have a great conversation about performance coaching and why the thing that's holding you back probably isn't something you're going to fix at a real estate boot camp.
Marcus was nice enough to take some time out from riding his Harley to share some of his hard-won wisdom, so say hello to him on the BiggerPockets Forums, where he's a frequent contributor.
And don't forget to subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next show!
In This Episode We Cover:How Marcus "flipped piglets" as a boyHow a rescinded job offer led to him to pursue real estateThe personal development he had to do to become a successful real estate investorDirect mail marketingClosing deals on the phoneAttracting partners by creating valuable contentWhy Marcus lives in Phoenix but buys rentals near ChicagoWhat separates successful "bird dogs" and wholesalers from those who give upAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets PodcastBiggerPockets ReviewsSunTrustWells FargoGuild MortgageBuildiumRe-LeasedRent ManagerQuicken LoansCozyPerformance Coach Jason DreesPerformance Coach Phil Towle
Check the full show notes here: http://biggerpockets.com/show386
Flipping with no money down... in Hawaii? You heard that right.
Greg Gaudet actually considers himself "risk-averse" and still holds a full-time job, but he's able to make nice chunks of change by hustling to find deals and managing rehabs for Brandon's team on Maui.
Today, Greg walks us through his journey from "rock bottom," including bouts with addiction and homelessness, to living the life of his dreams, buying a Porsche cash, and owning a handful of properties free and clear.
You'll learn the right way to approach investing in condos, how to bring value to a potential partner or mentor, how Greg manages risk by keeping his living expenses low, and the mindset shifts that allowed him to 1) get clean and 2) "get out of his own way" in the real estate business.
This is truly one of the most powerful stories we've told on the BiggerPockets Real Estate Podcast, and it's guaranteed to get your wheels spinning!
In This Episode We Cover:How tragedy shaped much of Greg's early yearsBad advice he received when jumping into investingWhat to look for (and avoid) when investing in condosHow Greg bought a condo for less than 50¢ on the dollarHow he and Brandon structure their flip dealsHow anyone can flip without risk?if they're willing to workGreg's "why" (and his paid-for Porsche)How to approach a mentor without making it awkwardAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets PodcastBiggerPockets CalculatorsBiggerPockets Podcast 302: Making $100k/Deal Using Other People?s Money, Time & Experience with Cory NemotoCalculating Numbers on a Rental Property [Using The Four Square Method!]Condominium Council of MauiBiggerPockets EventsGrant Cardone on Multifamily Investing and Why You Should Never Buy a House!Open Letter MarketingBiggerPockets Podcast 194: Achieving Impressive Spreads Through High-End Flips with Justin SilverioCallPorterDeal MachineKECO CapitalOpen Door CapitalGobundanceBiggerPockets Podcast 226: From ?D-Student? to $400,000 in Annual Rental Property Cash Flow with David OsbornAudiblePremier Restoration HawaiiBrandon's InstagramDavid's Instagram
Check the full show notes here: http://biggerpockets.com/show385
After yesterday's deep dive interview discussing 2 disastrous flip projects, we have a solo show for you today.
And the title says it all, really.
Brandon and David boiled down nearly 400 podcast episodes, countless forum threads, books, and real-life conversations, and their own missteps and now present: the Top 10 Ways Real Estate Investors Lose Money.
These aren't the only ways to go wrong in this business, but at some point you're in danger of falling into at least one of these traps.
So, what did we miss? Let us know in the forums, the comments section on our show notes, or in the Official BiggerPockets Facebook Group. And be sure to subscribe to the BiggerPockets Real Estate Podcast so you won't miss an episode.
In This Episode We Cover:Focus vs. spreading yourself too thinThe #1 way to lose money that you haven't thought ofManaging the people who manage your assetWhat David calls "Spreadsheet magic"Investing in areas with diverse employmentOver-renovating after watching too much HGTVInheriting tenants from a sellerEvaluating real estate agentsThe myth of "more money down = more safety"And SO much more!
Links from the ShowBiggerPockets ForumsContractor Bid FormBiggerPockets Podcast 287: Putting Together Real Estate Deals Using Creativity Instead of Cash with Shiloh LundahlBiggerPockets CalculatorsBe a guest on the podcastJoe Rogan Podcast
Check the full show notes here: http://biggerpockets.com/show384-5
You can put a dollar number on the losses Spencer Cornelia took on his first two long-distance flips... but it's hard to quantify the value of the lessons he learned and is now passing on to you.
We noticed Spencer's thread detailing his struggles in the BiggerPockets forums and invited him on the show; he bravely accepted.
In this episode, you'll learn the pitfalls to watch out for when taking on heavy renovations (anywhere, but especially long-distance), how to ensure quality work is getting done, and the dangers of letting projects drag on when you're locked into expensive short-term financing.
Plus, it's not a total downer... because Spencer's seeing a bunch of success with his new Youtube venture, and plans to continue investing in (less aggressively leveraged) real estate projects.
Brandon and David add their own perspectives having made some similar errors in their careers, and tomorrow in Part 2 they'll break down the 10 Deadliest Mistakes Investors Make.
New investors: heed the advice in these two shows! And as always: run your numbers conservatively, know your own risk tolerance, and run deals by trusted advisors before jumping in.
In This Episode We Cover:What went wrong with Spencer's rehabsHow to ensure contractors are doing quality workIncentivizing team members and keeping them accountableHow much money he paid in interest and fees to his hard money lendersFunctional obsolescence and complications with older homesWhy you can't always trust an appraisal"Home buyer turnoffs" and why it's easy to miss themWhy Spencer sold and took a loss rather than choosing another exit strategyWhy he's not giving up on real estateHow you can "go broke buying good deals"And SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets PodcastBiggerPockets CalculatorsFamous Four AnalysisBiggerPockets Podcast 125: The Key to Business Success with Bestselling Author of The E-Myth Michael GerberPace Morby's Youtube ChannelBiggerPockets Pro ReplayBiggerPockets WebinarsBiggerPockets Pro
Check the full show notes here: http://biggerpockets.com/show384
Interested in someday making the leap to bigger investments? Don't miss this one!
Ben Leybovich and Sam Grooms join us for a high-level conversation about how they transitioned from flips and smaller assets to 100-plus-unit, value-add multifamily deals.
Since the first part of this show was recorded pre-coronavirus, we brought the guys back on to hear their thoughts on today's market and get an update on how their business is doing amid the volatility (spoiler: pretty well!).
In This Episode We Cover:Finding the perfect partner for youThe 6 factors they look at when analyzing a marketWhy Sam & Ben keep such a large reserve fundWhy investors sometimes overvalue cash flowWhy they like the Phoenix marketHow to establish a competitive edge in real estate investingHow they look at multifamily syndication as "a long flip"Why equity protects youBuying insurance against interest rate increasesHiring their own construction teamHow they're adjusting to COVID-19And SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets PodcastBiggerPockets CalculatorsBiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)BiggerPockets Podcast 382.5: Surviving When the BRRRR Hits the Fan with Josiah Smelser (Part 2, Post-Coronavirus)DeloitteBiggerPockets Conference 2020BiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe AsamoahOpen Door CapitalBiggerPockets Podcast 313: How to Be Happy AND Grow a Massive Business with Entrepreneur Jesse Itzler (and Josh!)
Check the full show notes here: http://biggerpockets.com/show383
What happens to a no-money-down BRRRR investor when a pandemic breaks out, lending standards suddenly tighten, private money lenders get skittish, and property values quickly drop?
Today, Josiah Smelser returns to the show and tells all.
In Part 1 yesterday, we learned how Josiah built a $4M portfolio by buying, renovating, renting, refinancing, and repeating using both hard money and private money.
Coronavirus hit him hard. And if he didn't have cash reserves, credit options, and the right mindset, it might have totally wiped him out.
When the virus hit, Josiah had 10 properties he needed to refinance. It was a perfect storm: His private money lender immediately pulled funds, his refinance bank changed their terms, and property values dropped?all at once?meaning he would need to bring way more cash to the table.
What happened next? Listen to this episode to learn about how Josiah made it through the nightmare and came out on the other side... with more equity and reduced interest payments.
Real estate investing isn't all sunshine and rainbows. But if you keep your mind right, plan your exit strategies, and maintain cash and credit lines, you too can survive the curveballs thrown your way.
In This Episode We Cover:What happens when private lenders want their money backWhy Josiah's bank changed the loan-to-value ratio on himTapping a cash-out refinance in an emergencyTrying to sell a property you had planned to BRRRRTaking out loans in your spouse's name to get around loan limitationsKey to pulling off a BRRRR in a down marketHow Josiah saved $750K in interest over 30 years by getting a lower interest rateHow an attorney can help you arrange a great partnershipWhy Josiah looks at this stressful time as a highlight of his real estate investing careerAnd SO much more!
Links from the ShowBiggerPockets ForumsDavid's InstagramBiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan MurdockMindy Jensen's BiggerPockets ProfileBiggerPockets Money PodcastOculus
Check full show notes here: https://www.biggerpockets.com/show382-5
Today we bring you Part 1 of back-to-back episodes with real estate investor/appraiser/author/all-around good guy Josiah Smelser.
This first conversation was recorded pre-coronavirus lockdown, but it's packed with tips you can put into action today. You'll learn how Josiah solved the #1 bottleneck in his business (capital!), allowing him to BRRRR at scale and rack up rental properties with very little money out of pocket. Even more impressive: he's doing it long-distance (The properties are in Dallas, TX and Josiah lives in Huntsville, AL.)
And if that weren't enough, the guys go in-depth on appraisals ? and the techniques you can use to help appraisers see your side of the story. Josiah's a longtime licensed appraiser, so he speaks from experience... and he shares his playbook for giving yourself the best chance to pull all your money out of your deal.
If you like what Josiah has to say, then be sure to check it Part 2 tomorrow. We bring him back on, post-COVID-19, to discuss the serious challenges he's faced: lenders pulling out, property values dropping, and even a domestic violence issue at one of his rentals.
The good news: he made it through. Tune in tomorrow to hear how!
In This Episode We Cover:Why Josiah sold his properties pre-2008 crash (and why he still regrets it!)Combining hard money and private money to BRRRR with no money out of pocketHow Josiah uses "boots on the ground" partners to invest at a distanceWhy he analyzes 8-10 deals per dayBuying houses sight unseenWhy BRRRR investors must keep cash reservesHow to talk to appraisers (like getting out of a speeding ticket!)Why a property's list price is irrelevantDeals... on the MLS, in 2020?!The square footage trick that's made him thousands of dollarsLosing out to a lower offer on a big multifamily dealAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets PodcastBiggerPockets CalculatorsZillowBring Brandon a DealBrandon's InstagramOpen Door Capital LLCBiggerPockets Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian MurrayBiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian MurrayGoBundance
Check the full show notes here: https://www.biggerpockets.com/show382
Can you flip, wholesale, and buy rentals throughout a downturn?
Yes... IF you heed the advice given out in today's episode.
Our guest Tucker Merrihew is more than qualified to tackle this subject, having launched his real estate business in Portland, Oregon, in 2008?during one of the worst housing markets of all time.
In a rare "Double Deep Dive" segment, Tucker walks us through a couple TTM Development projects from 2009 and reveals exactly what he did right and wrong at the time.
As for the coming months... you'll learn which types of properties to avoid, which price ranges to target, and why renovating old homes can be risky business at this stage of the market cycle.
Plus, Tucker explains why he underwrites every deal at 3 different prices to make sure it passes his "Oh $#!# Test" if the market goes south.
Tucker is a seasoned pro with hundreds of deals under his belt, and he shares tons of valuable information for free in this episode. Be sure to subscribe to the BiggerPockets Real Estate Podcast for more tips on investing safely while taking advantage of the opportunities ahead.
Feeling like you're in uncharted territory as a landlord? You're in good company!
Today's show walks you through how to ethically and profitably manage rentals through the COVID-19 outbreak and beyond.
Brandon and David sit down with Mike Butler, acclaimed author of Landlording on Autopilot; Chris Clothier, partner at REI Nation (formerly Memphis Invest); and Dave Poeppelmeier, owner of eight houses in Toledo, Ohio.
You'll get a ton out of this panel discussion, including exact scripts for communicating with non-paying residents, strategies for connecting tenants to government resources, a discussion about "deferment" vs. "forbearance," and much more.
Mike (500+ units), Chris (6,000+ turnkey units), and Dave (8 properties, mostly student rentals) are all in different markets and at different stages of their investing careers... so you're guaranteed to learn something you can apply in your business today.
Enjoy this episode, jump on the BiggerPockets Forums to connect with fellow investors, and subscribe to this show in your favorite podcast app so you won't miss us next week!
In This Episode We Cover:Mortgage forbearance vs. deferment for landlordsWhat % of REI Nation's tenants paid April rentEstablishing open lines of communication with tenantsWhat tone to use in conversations about rentWhy Dave proactively reached out to his rentersGuiding tenants to government resources (unemployment, etc.)Creating contingency plansMike's "Wendy's walk-up window" for rent paymentHow to look for better financing in low-interest-rate environmentsHow to stay organized if you're getting government assistance for your businessAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarsBiggerPockets BookstoreBiggerPockets Podcast 224: Building a Process to Buy 17 Deals a Week with Chris ClothierAre Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do!BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan MurdockBiggerPockets Bookstore
Check the full show notes here: https://www.biggerpockets.com/show380
There are plenty of opinions out there about where the real estate market is headed next. But what are the numbers telling us?
Today we dig into the data with Dave Meyer, BiggerPockets' VP of Growth and Analytics and a real estate investor himself.
Dave leads BiggerPockets Insights?a Pro/Premium benefit providing current local market data?and he's been looking at data points in the weeks since shelter-in-place orders began to grind the economy to a halt.
Why are rents down? Why haven't prices dropped? And what data should investors be keeping an eye on? The guys tackle those questions and much more in today's episode.
Plus, Dave discusses his list of the country's best 11 cashflow markets adjusted for vacancy and explains what makes them so attractive right now.
Add in a topical "Fire Round" and a breakdown of Dave's "ski for free" Airbnb scheme, and you've got an action-packed episode sure to bolster your confidence in these uncertain times.
Check out this episode of the BiggerPockets Real Estate Podcast, and be sure to subscribe to the show in your favorite podcast app so you won't miss the next one!
In This Episode We Cover:The top cashflow markets in the country for high value and low vacancy3 data points Dave looks at when analyzing a new marketWhy housing prices haven't fallen much yetDave's (cautiously optimistic) forecast on real estate pricesWhat's happening to rents nationwideWhat "income-to-price" reveals about a marketWhat BiggerPockets Insights isHow new investors can take advantage of this downtimeThe potential of a population shift away from urban centersHow Dave bought an Airbnb in Colorado to "ski for free"And SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarsBiggerPockets BookstoreBiggerPockets Podcast 186: How to Get Your First Few Properties ? Even in a Competitive Market with Dave MeyerAir DNABiggerPockets Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren SagerBiggerPockets ProBiggerPockets InsightsNewbie Real Estate Investors - What YOU Should Be Doing During This COVID TimeBiggerPockets Podcast 315: How to Read Human Nature to Succeed in Life with Bestselling Author Robert Greene
Check the full show notes here: http://biggerpockets.com/show379
With a recession already underway, we're turning to an investor with 30 years of experience, 3,000-plus multifamily units acquired, and one of the sharpest minds in real estate.
Brian Burke is back today, and he sits down with Brandon and David to offer his interpretation of current events and to guide our audience through how to invest passively without violating Warren Buffett's No. 1 rule: "Never Lose Money!"
Brian explains how his firm Praxis Capital is navigating COVID-19 and shares a few tips everyday investors can use to fortify their portfolios. We also discuss leverage, how lending practices are changing, and techniques you can use today to safeguard your investments against vacancy and drops in valuation.
In the second half of the show, Brian speaks to those interested in becoming "hands-off" investors?whether you want to focus on making money in your day job or just don't want to deal with being a landlord. After all, BiggerPockets has 10-plus books on how to actively get deals done... but none (until now) on how to evaluate passive investment opportunities.
We go over how to meet syndicators, what red flags to look for, how to diversify your investments... and the absolute No. 1 quality to look for in a passive investment (hint: it's NOT the deal itself).
This episode is packed with deep insights into the current market shift, but it's also a timeless lesson in evaluating syndication opportunities.
For more info, check out Brian's new book, The Hands-Off Investor: An Insider's Guide to Investing in Passive Real Estate Syndications, and all the great bonus content, too.
In This Episode We Cover:How Brian got his start raising capital from his cop buddies"Bulletproof vests" investors can use to survive right nowBrian's definition of "over-leveraged"Why Brian is currently more focused on operations than acquisitionsHow government stimulus $ may affect the real estate marketHow and where passive investors meet syndicatorsThe #1 quality passive investors should look for in a syndicatorWhy the deal sponsor is more important than the deal itselfDiversifying your passive investment portfolioRed flags to look for when evaluating syndicatorsWhy "alignment of interests" is overratedThe lesson he learned from a friend who lost her life savings
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarsBiggerPockets Business PodcastReal Estate Rookie PodcastBiggerPockets Money PodcastBiggerPockets Radio Podcast 003: Getting Started in Real Estate and Raising Money with Brian BurkeBiggerPockets Podcast 076: Growing Your Real Estate Company Into a $30 Million Dollar Business with Brian BurkeBiggerPockets Podcast 152: Building Wealth and Passive Income with Rental Properties with Ben Leybovich, Brian Burke, and Serge ShukhatBiggerPockets Podcast 315: How to Read Human Nature to Succeed in Life with Bestselling Author Robert GreeneBiggerPockets BRRRR GuideBiggerPockets Bookstore
Check the full show notes here: http://biggerpockets.com/show378
Today's guest does 125 deals a year in Dallas?from his home base in the Caribbean.
How? Well, he bailed on direct mail marketing and doubled down on radio ads.
And when others froze up as the coronavirus spread, his team put in new systems and closed a $23,500 wholesale deal... without even stepping foot inside the house.
Chris Arnold zigs when others zag, and today you'll learn how he sets up his business so he can consistently work ON it, not in it... while enjoying a great lifestyle in Tulum, Mexico.
Chris shares timely tips for how to orchestrate deals while maintaining safe social distancing (he even holds "Zoom open houses" with multiple cash buyers at once); breaks down which team member handles each aspect of a transaction; and delivers a fantastic tip for new real estate investors struggling to stay focused.
Plus?Chris shares how advertising on local radio stations has elevated his home-buying business to new levels. Look, he says, you might prefer podcasts... "but you are not your seller!"
We play one of his ads on the show, and he guides us through how to research various audiences and negotiate the best rates with stations.
This show covers it all?from the finer points of buying properties at deep discounts to the mindset shifts Chris has made along the way.
Check it out, and if you enjoyed this please share it with just one family member or friend. We appreciate you, and we'll see you next Thursday.
In This Episode We Cover:Why Chris runs his business virtually from MexicoHis #1 lead generation strategy: good old-fashioned radio!3 major demographics he markets toWhy "bouncing" is the reason so many newbies fail3 shifts he's made to adapt to COVID-19How he decides whether to wholesale or fix and flip a propertyThe exact workflow his team uses to work leads from start to finishHow he inspects houses remotelyClosing deals over the phoneHow he puts together "Zoom open houses" for cash buyersHow he's finding cash buyers who will buy sight unseenHow the market is reacting to coronavirusWays to back out of a contract if necessaryAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets Coronavirus Relief ProgramsBiggerPockets WebinarsHow to Build a Deal PipelineRealtorZillowPandoraThe Multipliers MastermindBiggerPockets Business PodcastReal Estate Rookie PodcastBiggerPockets Money PodcastGoBundance
Check the full show notes: http://biggerpockets.com/show377
Strength in numbers!
When you finish this episode, you'll have 12+ action items that could help you withstand the coming economic slump... and perhaps even accelerate your path to financial freedom.
Each investor featured today gives you their top piece of advice for handling an economic downturn: from mindset, to leadership, to specific strategies you can begin to put in place TODAY.
Don't miss this one, and be sure to subscribe to the BiggerPockets Real Estate Podcast for more hard-won wisdom on how to lead your business through the coronavirus crisis and beyond.
In This Episode We Cover:Why now is the time to write a 10-year vision for yourselfServing others first, even when our impulse is self-protectionCutting overhead to preserve cashFinding creative ways to rent out propertyCollecting payments up-front, for a discountWorking with lenders if you're having shortfalls with rentInvesting as a group to hedge riskControlling your emotions when the market is volatileWhy you should be building a team NOWThe importance of picking up the phone to nurture relationshipsAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets MagazineBiggerPockets ConferenceGoBundanceBiggerPockets Podcast 226: From ?D-Student? to $400,000 in Annual Rental Property Cash Flow with David Osborn$13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ OsborneBiggerPockets WebinarBiggerPockets Podcast 362: Big Goals? Here?s How to Get Your Spouse or Partner on Board with Jay and Wendy PapasanBiggerPockets BookstoreBiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay PapasanKirkland Signature Protein BarsBiggerPockets Money Podcast 100: From Financial Disaster to Real Estate Master with Brandon TurnerJason Drees CoachingBiggerPockets Podcast 162: How to Pay Less to the IRS with Amanda Han, CPABiggerPockets Radio Podcast 003: Getting Started in Real Estate and Raising Money with Brian BurkeAppSumoBiggerPockets Podcast 213: Investing in Real Estate Without Being a Landlord with Noah KaganBiggerPockets Podcast 201: Flipping 100+ ?Zombie? Houses with Justin StamperBiggerPockets Business PodcastLandlordologyCozy.coAre Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do!BiggerPockets Youtube Channel876: What Makes a CEO with BiggerPockets CEO, Scott TrenchScottSilverRealtyBiggerPockets Podcast 325: From Major Business Failure to Buying 20 Houses a Month With Aaron Amuchastegui
Check the full show notes here: http://biggerpockets.com/show376
Economic upheaval. Tenants losing their jobs. Entire cities shut down.
How should real estate investors operate today?
In this episode, we?re opening up the phone lines and patching in both expert investors (Tarl Yarber, Avery Carl, Justin Stamper) and newbies (Sawyer, Adam, Joe) in various markets across the country.
What you?ll learn: how hard-hit short-term rental operators can adapt to travel restrictions, how to plan for non-payment of rent, which strategies are likely to work best in the coming economic shift, what the heck is going on with interest rates... and much more.
Tell us what you think of this new format, and be sure to subscribe to the BiggerPockets Real Estate Podcast for more on how best to run your business in unprecedented times.
Stay safe and we?ll see you next Thursday.
In This Episode We Cover:How certain areas of the country are affectedHow to find renters at this timeHow to make your Airbnb business thriveWhy panic selling is not recommendedThe value of working with a partnerWhat to do if your properties are affectedHow the pricing of properties are affectedVarious creative financing you can tryCurrent status of various investorsWhy rents never go downAnd SO much more!
Links from the ShowBiggerPockets ForumsZombie House FlippingBiggerPockets Podcast 201: Flipping 100+ ?Zombie? Houses with Justin StamperTravelNursing.orgFurnished FinderRNvip.comTrusted HealthCross Country NursesAYA HealthcareBiggerPockets Podcast 374: What Real Estate Investors NEED to Know About the Coronavirus, the Economy, and the Problems at Your DoorBiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery CarlClearBankOpen Door CapitalBiggerPockets Youtube ChannelBiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl YarberMelanie & Dave Dupuis's InstagramAre Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do! (Video)Dave RamseyJustin Stamper's InstagramJustin Stamper's WebsiteThe Short Term ShopAvery Carl's BiggerPockets ProfileBiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery CarlTarl's InstagramBiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber
Check the full show notes here: https://www.biggerpockets.com/show375
Rent's due... or is it?
From quarantines to eviction moratoriums to a plummeting stock market, COVID-19 has upended seemingly everything -- and today we talk through what it all means for real estate investors.
J Scott, author of Recession-Proof Real Estate Investing, and Scott Trench, author of Set for Life and CEO of BiggerPockets, join Brandon and David for a roundtable discussion packed with perspective and insight.
We begin with a high-level analysis of today's economy, and discuss how you can fortify your portfolio in the face of a likely recession (there's still time!). Then, the guys take on your most pressing questions -- starting with, "what happens if my tenant doesn't pay rent?"
*NOTE: If you want to skip directly to audience Q&A, that section starts at 1 hour, 5 minutes.*
Whether you're a brand new investor nervous about getting started... or a veteran waiting for the right opportunity to deploy capital, this episode will give you a chance to take a deep breath and assess the playing field.
We hope you enjoy this special episode, recorded March 18... Stay safe, take care of yourselves, and stay tuned for more Coronavirus content across all BiggerPockets platforms in the days and weeks ahead.
In This Episode We Cover:BiggerPockets members' top questions right nowHow to control your emotions when people around you are panickingWhich strategies do and don't work well during downturnsHow to approach tenants who have lost income and don't pay rentThe importance of "buying right" and keeping cash reserves6 ways real estate investors should prep for a recessionHow power dynamics in the marketplace will changeWhether you should still be out there looking for dealsHow to productively use your time while confined indoorsAdjustable Rate Mortgages todayCOVID-19's effect on the overall economyThe effects of Quantitative Easing and 0% interest ratesAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Money PodcastBiggerPocketsReal Estate Rookie PodcastBiggerPockets Business PodcastMindy Jensen's BiggerPockets ProfileImperial College COVID-19 Response Team ArticleRay DalioBiggerPockets Podcast 297: Mastering the Decision-Making Process with Business (and World Series of Poker) Champion Annie DukeBiggerPockets Calculators4 Wealth Generators of Real Estate Investing (video)ZillowBiggerPockets Podcast 311: 6 Rules for Investing in Real Estate in the Coming Economic Shift with J Scott
Check the full show notes here: http://biggerpockets.com/show373
Four years ago, Lee Ripma was brand new to real estate. She vowed she'd one day appear on the BiggerPockets Podcast. That day has come.
And we're all better off for it!
In this action-packed episode, Lee traces her journey from full-time field biologist to newbie who jumped straight into long-distance multifamily (wait 'til you hear about her first deal!) to developing apartment buildings in the high-end Los Angeles market.
You'll learn how she formed relationships with local, "boots-on-the-ground" partners on her BRRRR deals in Kansas City, why she came to prefer value-add multifamily deals over BRRRR, and how she's able to find higher and better uses for properties in Southern California.
From looking at our podcast stats, we know a LOT of you are in hot markets like L.A., New York, San Francisco, and Washington, D.C. If you've ever thought to yourself, "My market's so expensive... How can I invest in real estate?"?look no further.
This episode will get you motivated, and it may just ignite your real estate investing career!
Be sure to subscribe to the BiggerPockets Real Estate Podcast, sample the other BiggerPockets podcasts in our network (just search "BiggerPockets" in your favorite podcast app), and as always, if you appreciate this content, please give us an honest rating and review on Apple Podcasts.
In This Episode We Cover:Why she abandoned the idea of building a tiny house empireHow her career as an environmental consultant prepared her for real estate investingWhy innovation can be overratedHow she screwed up her first deal and still made 28% cash-on-cashWhy choosing a ?submarkets? is more important than the general market you chooseWhy she shifted from BRRRR to value-add multifamily investingHow she unlocks value in rundown apartment buildingsFinding ?boots-on-the-ground? partners for out-of-state dealsHow she learned the development game by apprenticing under an experienced investorHow real estate development creates money out of thin airTearing down single-family homes and building 4-unit apartment buildingsHow she moves projects more quickly by using ?prefabricated construction?Why ?value-add? drives the biggest returns on investmentAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Money PodcastHow to Find Overlooked Opportunities in a Hot Market with Andrew CushmanBiggerPocketsTask RabbitBiggerPockets Podcast 092: No (and Low) Money Down Real Estate Investing with Brandon TurnerPodcast MovementBiggerPockets MoneyTiktok
Check the full show notes here: http://biggerpockets.com/show373
Securing financial freedom for her family through long-distance real estate investing!
West Point graduate Erin Helle's story starts the day she was ordered to deploy to Afghanistan. She already had a young daughter, and her husband was headed to Iraq.
Something had to change.
Mix in a serious health condition, the result was this: Erin felt forced to take action and build something that would endure and provide for her daughters no matter what.
In this episode, you'll learn which steps she took. From buying new construction, to flipping at a distance, to using a self-directed IRA to purchase a rental property, this show is packed with valuable lessons from an investor who's acquired 20 doors in the span of two years.
Erin shares a powerful story that's sure to make you think hard about the legacy YOU plan to leave behind and what you plan to do to get there.
In This Episode We Cover:Buying new constructionGenerating momentum as a newbie investorErin's key performance indicatorsLead measures vs. lag measuresOut-of-state real estate investingTeaching young kids about moneyWhy getting your real estate license may be overratedWhy she doesn't "DIY" anymoreAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Podcast 355: From Small-Time Landlord to 1,000+ Units Under Contract with Ryan ?The Mercenary? MurdockOpen Door Capital$13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ OsborneBrandon's InstagramCraigslistZillowRedfinBiggerPockets Money PodcastBiggerPockets Business Podcast
Click here for full show notes: http://biggerpockets.com/show372
More "newbie" content. More "first deal" success stories. Tips, tools, and step-by-step guidance from investors just one step ahead of you.
That's what many of you have been asking for.
And that's what you'll get when you subscribe to Real Estate Rookie, BiggerPockets' newest podcast!
Episode 1 is LIVE now, and it's a gem if we do say so ourselves?check it out here.
In this brief announcement, Brandon and David introduce hosts Ashley Kehr and Felipe Mejia (remember them from episodes 348 and 329?)... and explain WHO would?and wouldn't?benefit from listening to Real Estate Rookie.
You might be asking?is the "OG" BiggerPockets Podcast changing? Or even going away? Not a chance!
In fact, we hope you listen to both shows.
Check out Real Estate Rookie today, and Brandon and David will have another great interview right here tomorrow.
Then next week, you'll get an episode of Real Estate Rookie on Wednesday, and we'll be back to regular programming.
Tell us what you think of the new podcast, join the Facebook group (just search "Real Estate Rookie"), and give Ashley and Felipe a follow on Instagram @wealthfromrentals and @felipemejiarei!
$700,000-plus in wholesale fees?fresh out of high school!
On this show, Will Brown reveals how laser-focusing on ?deal flow? allowed him to build a rental property portfolio, build a self-sustaining business, and amass a small fortune? all in a matter of months.
You?ll be blown away by Will?s story of being struck by inspiration while playing Grand Theft Auto at age 18. That led to the BiggerPockets Podcast, and well? you?ll have to hear the rest of his story to believe it.
If you want to know the exact structure of a four-deal-per-month wholesaling business and the specific marketing methods Will uses to reach sellers, check out this episode. He walks us through how he handles leads, how he manages his business from 3,000 miles away, and why he?s handing over the reins to a partner so he can focus on building a technology startup.
This is a fantastic episode highlighting a BiggerPockets member who took massive action, trusted the process, and saw massive results. Download this one, and make sure you?re subscribed to the BiggerPockets so you won?t miss a show!
In This Episode We Cover:How Will built a powerful marketing machineHow he's able to spend only 30 minutes on each dealHow he prevents leads from slipping through the cracksRingless voicemail messaging and text message marketingWhy he prefers wholesaling over flipping housesHow he handles tricky title issuesWhy it's never a bad idea to make an offerWill's artificial intelligence startupAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Ultimate Beginner's GuideBiggerPockets Podcast 077: Negotiating Your Way to 1000 Wholetail Real Estate Deals with Michael QuarlesBiggerPockets PodcastBiggerPockets Podcast 209: Flipping 83 Homes in the Last 18 Months with Kevin CarrollBiggerPockets Podcast 330: How to Ditch Distractions and Get WAY More Done With Cal NewportShark Tank
Check the full show notes here: http://biggerpockets.com/show371
Get to know enough CPAs, and you'll hear the "light bulb" story.
"I was helping this real estate investor with her taxes... and thought, 'Why am I not doing this?!'"
Yes, there are POWERFUL tax breaks available for rental property investors. But you have to know what to look for!
That's the focus of today's episode AND the new book (out today!) from Amanda Han and Matt MacFarland: "The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors."
You'll hear Amanda and Matt break down the basic concepts you need to understand in order to reach your goals, outline the questions you should ask your CPA, and take on the notorious "Do I need an LLC?" question.
You'll also learn about more complex strategies like advanced/bonus depreciation, Opportunity Zone investing, and 1031 exchanges... plus, how short-term rental investors and flippers can optimize their tax strategy.
This episode is packed with free information that is literally valuable?meaning it could save you thousands, or tens of thousands, of dollars!
Download this one, check out the book, and subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next show.
In This Episode We Cover:How Amanda and Matt ended up doing tax/real estateWhat they do and how they help clientsWhat their new book is all aboutHow to save tons of money in terms of taxesBest time to work with a CPAHow an LLC plays into a real estate investor?s life3 benefits of working with a professionalImportance of having a system in place with the help of tax and legal advisorsHow cost segregation comes into playWho does a cost segregation studyOther things investors should not do on their ownWhy it pays to be cautious when it comes to 1031 exchangesWhy buy and hold is preferable over flipping from a tax perspectiveCool things about short-term rentals from a tax perspectiveWhat an Opportunity Zone is and why it mattersWhat a flow-through entity tax break isAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarExplore Companies on BiggerPocketsBiggerPockets BookstoreIRS Website
Check the full show notes here: http://biggerpockets.com/show370
Want to step out of your business and finally gain the freedom to think more strategically? Let Jefferson Lilly show you how!
Jefferson is a mobile home park investor, who went from sleeping on an air mattress on-site at his mobile parks to running a lean team and focusing his energy on raising millions from investors.
No matter what stage of your career you?re in or what your preferred strategy is, you?ll get a ton of value out of this high-level discussion about building a ?2.0? business that serves you AND your team.
You?ll learn how Jefferson went from acquiring parks ?deal by deal? to starting a fund, how he overcame fear to hire several six-figure employees, and how he incentivizes his team to maximize occupancy.
Also, Jefferson breaks down the criteria he uses to narrow down potential deals (including proximity to a Walmart)?AND reveals the four main ways he and his team reach out to mom-and-pop park owners.
This is an awesome show, whether you?re interested in mobile homes or not. So check it out, and subscribe to the BiggerPockets Real Estate Podcast so you won?t miss the next one!
In This Episode We Cover:The ?unfair advantages? of mobile home park investing4 main methods to find off-market dealsHow his team uses brokers to source dealsHiring 6-figure employeesHow Jefferson has raised more than $30M from 200 investorsHow he incentivizes his team based on occupancy2 factors that drive profitability in the mobile home park businessThe difference between a ?2.0? business vs. a ?1.0? businessJefferson?s biggest career regretWhy he aims to hire ?coaches? rather than ?cheerleaders?How and why he started a fund rather than individually syndicating dealsAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Podcast 111: A Unique (and Profitable) Real Estate Niche You?ve Probably Never Considered with Jefferson Lilly$13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ OsborneBiggerPockets Podcast 339: 60,000 Tenants?! How Frank Rolfe Built a Mobile Home EmpireMobile Home UniversityBiggerPockets Podcast 262: $600,000 Per Month in Gross Rents from Mobile Home Parks with Jefferson LillyIndeed.comBiggerPockets Podcast 361: Using $3,500 to Kickstart an ?Unsexy? Investment Empire with Tristan ThomasTim Ferriss PodcastThe Dave Ramsey ShowQuickbooks
Check the full show notes here: http://biggerpockets.com/show369
On today?s show: accelerated wealth-building through leverage and systems!
Palak Shah walks us through how she built a $4M portfolio in just three years by "supercharging" the BRRRR strategy.
Palak left a career in corporate America to focus full-time on real estate in the Philadelphia area, and she applied her training as an engineer to create airtight processes that help her business run without her.
You?ll love hearing how she finds deals from wholesalers on Facebook, why she?s not afraid to sell off some of her BRRRR properties, and how she creates checklists to determine whether a deal fits her criteria.
Also, we discuss how to beat ?analysis paralysis? by remembering her acronym ?A.B.L.E.?
Palak is a relatable, inspiring investor who offers great tips for anyone hoping to transition away from a 9-to-5? so check out this episode today, and share it with a friend or family member!
In This Episode We Cover:Leaving her corporate job to take more control over her timeWhy she?s OK paying capital gains tax rather than using 1031 exchangesFlexing your ?risk-taking muscle?Using hard money for BRRRR projectsCreating ?templates? to make investing easier over timeCriticisms of the BRRRR strategyWhy she sells off some of her BRRRR propertiesUsing local banks and credit unionsHer mantra: ?Fortune favors the finance-savvy?How her systems allowed her to buy 2 properties from IndiaHer ?A.B.L.E.? method to escape analysis paralysisHow she bought 9 units for 40% off the list priceHow she used a home equity loan to borrow $160KAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarFear-Setting: The Most Valuable Exercise I Do Every MonthHow to Make $100,000/Year with Fixer-Upper Rentals (by Buying Only 2 Properties Annually)Microsoft ProjectRedfinHustle & Persistence To Build Wealth Through Real Estate | BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David GreeneBiggerPockets Podcast 362: Big Goals? Here?s How to Get Your Spouse or Partner on Board with Jay and Wendy Papasan
Check the full show notes here: http://biggerpockets.com/show368
7X-ing her income by leaving a so-so job to flip houses!
Today?s guest is Kara Beckmann, a rehabber and rental property investor who?s tearing it up in Scottsdale, Ariz., and on her Instagram page @beckmannhouse.
You'll be inspired by Kara's journey from pastry chef to retail worker to full-time investor funding deals with private and hard money. Kara shares some great tips for networking with wholesalers and builders to snag deals (to date, she's spent $0 on marketing).
You'll also learn how she maximizes profit by sticking to her rehab budgets, how she keeps contractors on deadline, and how she manages risk by outlining several different exit strategies.
Kara's story will motivate you to apply your own "unique ability" to your real estate business and overcome the fear that might be stopping you from doing your first or next deal!
Enjoy this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next one.
In This Episode We Cover:How Kara learned saving habits at age 14How she started thinking like an entrepreneur while working in retailHow she was motivated by not getting a raise in 5 yearsBuying her first deal for $50K below asking priceReinvesting profits from her first flipHer apprenticeship with a general contractorHow she develops a scope of work and deadlineWhy she doesn?t spend any money on marketingHer networking tipsThe challenges of investing without W-2 incomeHow she prepares several exit strategies for each dealWhere she gets inspiration for her designsHow she sticks to her budgets (the ?price per square foot? method)Incentivizing her contractors to complete work on timeAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Money PodcastBiggerPockets Podcast 365: Ret. Navy SEAL Jocko Willink on Embracing Discomfort and Leading Through Extreme Ownership (+ His Real Estate Investing Tips!)BiggerPockets ConferenceZillowRealtor.comTikTokEmail: [email protected]
Check the full show notes here: http://biggerpockets.com/show367
From panicked newbie with just $1,000 saved to 40 rental units?in two years? time!
On today?s show, we sit down with Henry Washington, a buy and hold investor from Arkansas who?s built a sizable portfolio while working full-time.
You?ll learn how Henry changed his mindset as he and his wife prepared to start a family and how he secured his first deal by doing something anyone can do?simply announcing to the world that he buys houses.
You?ll also learn how Henry built a deal pipeline by looking in places other investors didn?t, how he asked more experienced investors for help when he didn?t know what to do next, and how he does business with local banks to expand his portfolio.
Plus, Brandon and David dig into how to property screen tenants, how to decide when to flip or BRRRR vs. when to hold onto a rental, and how to use an online ad campaign to drive a steady supply of leads to your website.
This episode lays out a blueprint for building massive wealth. Just adapt it to your market, and work the process.
Don?t miss this one, and subscribe to the BiggerPockets Real Estate Podcast so you won?t miss the next!
In This Episode We Cover:How ?panic? drove Henry to start saving and investingHow he started his investment career by simply ?paying himself first?The list he used for his first (wildly successful) direct mail campaignThe lessons he, Brandon, and David took away from Rich Dad Poor DadWhy he told people he bought properties (before he ever did!)Why writing down his fears helps him conquer themHow he sought help from a more experienced investor on his first dealHow he used a 401(k) loan to buy a cash-flowing propertyHow he launched a Google Ads campaign to drive traffic to his websiteThe power of small, local banks to fund dealsWhy he holds open houses rather than individual showings for tenantsWhy the best real estate investors buy ?situations,? not housesAnd SO much more!
Links from the ShowBiggerPockets Forumsbiggerpockets.com/podcastsurveyBiggerPockets Business Podcast 30: How to Guarantee Profit From Day 1 with Mike MichalowiczGoogle AdwordsLeadPropellerCozy.coTruliaRealtorHotPadsZillowCraigslistBiggerPockets BookstoreBiggerPockets Business
Check the full show notes here: http://biggerpockets.com/show366