913: 150+ Deals in 3 Years and Why You DON’T Want to Be a Landlord w/Don'nell Greer
BiggerPockets Real Estate Podcast
Sponsorship and Home Security Discussion
This chapter highlights three sponsors: Deal Machine for lead generation in off-market deals, Simply Safe for advanced home security systems, and Steadily for tailored landlord insurance.
Most real estate investors do a few deals a year if they’re lucky. But today’s guest was doing twenty to thirty real estate deals a MONTH. That’s right—not per YEAR, per MONTH. And he did it all while scaling his real estate business at lightning speed. The best part? He didn’t have to use his own money to get there—his deals were being funded completely by private partners, and if you stick around, you’ll know exactly how to do it, too!
After closely observing investors while he was a real estate agent, Don’nell Greer got the hang of finding and tackling profitable real estate deals. After much analysis paralysis, he got his first deal under contract—an $80,000 home that needed some heavy sweat equity to make it profitable. With high rents and low home prices, Don’nell knew the deal would work, but he needed more money. Through a family loan, Don’nell realized the power of private money, and once he saw the possibilities, there was no turning back.
Fast forward soon after, and Don’nell was borrowing hundreds of thousands of dollars from millionaire investors he met through his network. Thanks to the new source of funding, Don’nell was able to flip dozens of houses a month, making a life-changing business in the process. But it wasn’t all good news. Partnership problems, rising interest rates, and changing market dynamics forced Don’nell to make a hard pivot—a pivot you may have to make in the future!
In This Episode We Cover:
How to get past analysis paralysis and get your first real estate deal in the bag
How to use private money to fund your real estate deals when you’re low on cash
Flipping twenty-thirty houses a MONTH by scaling your real estate business
Taking a chance on tenants and why most landlords say “no” to some of the best renters
How Don’nell corrected course when rising interest rates put his flipping business at risk
The power of coaching and mentorships and why you need a strong real estate community to succeed
And So Much More!
Links from the Show
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Hear Dave and Henry On the “On the Market” Podcast
Find Your Next Home Insurance Contact
Connect with Don'nell:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-913
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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