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BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast

Author: BiggerPockets

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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).

408 Episodes
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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 BookstoreCheck 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 CubanCheck 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 GerberCheck 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 ChannelCheck 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 NotebookCheck 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 BookstoreCheck 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 GerberCheck 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 RoganCheck 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 ConferenceCheck 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 OsborneCheck 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 TestCheck 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 TrenchCheck 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 TowleCheck 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 InstagramCheck 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 PodcastCheck the full show notes here: http://biggerpockets.com/show384-5
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Comments (95)

Matthew McKibben

Damnit Brandon. The lady and I have been trying for a baby for a year now and it hasn't happened just yet, but your song literally made me leave work to go to my car because I started balling like a little baby. it's truly a beautiful song and it hit me right in the feelers.

Sep 23rd
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Devon Edwards

Just started watching Jeff on youtube and as you can tell, his information is top notch. So excited to see him on BP and the episode didn't disappoint!

Sep 11th
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juan cruz

love your podcast , one question what is the author of the book for kids , thanks

Aug 29th
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3boys2raise

thank you.

Aug 21st
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Ivan Terrero

Loved this episode

Aug 8th
Reply (1)

Steve Diahy

these are great

Jul 16th
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Thomas Gillotti

Referencing the "cheatriot way" as if it has any actual merit. sorry guys, you completely missed the mark on this one. Aaron Hernandez... Antonio Brown... the cheatriots are effective for one reason. Bellicheat.

Jul 2nd
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Matthew McKibben

I can relate to this guy. Not so much on the bipolar part but i dealt with depression really bad when I broke my back and lived in a wheelchair learning how to walk again. Substance abuse and that life is what lead to me breaking my back. Thankfully I got sober and have my first multifamily now and the lady and I are working on our second. Big picture, life is what you make it. You have your ups and down but you have to find a way that works for you for you to get through those hard time.

Jun 30th
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Danielle Rose-Valencia

Yes please. Would love more QandA shows.

Jun 14th
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Thomas Gillotti

well, I'm literally in the middle of a deal that goes against everything they said here.... haha... 🙄

May 29th
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creative group

Seasoned Real Estate Investors understand that caution is what is required. If you have the financing to purchase great buys reevaluate the deal and seek a reduction. (Amount of reduction is up to your deal) If not pull back offer and wait it out. This is a very unknown territory for everyone. Freeze when there are dramatic changes. Multi-Unit properties are more shielded with tenants who may be essential workers. First responders, Doctors & Nurses.

Apr 20th
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Guillermo Alfaro

whats the name of that $1,000 to a million book??

Apr 16th
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Joseph O'kray

What happened to the Josh Dorkin?

Mar 20th
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Sean Hill

What prefabricated construction company are you using?

Mar 15th
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Ahmed Tha King

one of the most motivating podcasts I've heard from BP yet!

Feb 18th
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Paul

Great content but I hope you both get better microphones in later episodes. Distortion.

Jan 20th
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Matthew McKibben

I went to high school in Cambridge, mn. the next town over from North Branch

Jan 17th
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Aerial Penguin

39:00

Dec 29th
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Solmaz

Starting the bigger pockets podcast with the first one

Oct 27th
Reply (1)

Kevin Redmond

Starts at about 27 minutes

Oct 11th
Reply
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