385: Once Homeless, Now Investing in an Expensive Market (With No Money of His Own) With Greg Gaudet
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 years
- Bad advice he received when jumping into investing
- What to look for (and avoid) when investing in condos
- How Greg bought a condo for less than 50¢ on the dollar
- How he and Brandon structure their flip deals
- How anyone can flip without risk—if they're willing to work
- Greg's "why" (and his paid-for Porsche)
- How to approach a mentor without making it awkward
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Bookstore
- BiggerPockets Podcast
- BiggerPockets Calculators
- BiggerPockets Podcast 302: Making $100k/Deal Using Other People’s Money, Time & Experience with Cory Nemoto
- Calculating Numbers on a Rental Property [Using The Four Square Method!]
- Condominium Council of Maui
- BiggerPockets Events
- Grant Cardone on Multifamily Investing and Why You Should Never Buy a House!
- Open Letter Marketing
- BiggerPockets Podcast 194: Achieving Impressive Spreads Through High-End Flips with Justin Silverio
- Deal Machine
- KECO Capital
- Open Door Capital
- BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn
- Premier Restoration Hawaii
- Brandon's Instagram
- David's Instagram
Check the full show notes here: http://biggerpockets.com/show385