731: From Losing EVERYTHING in the Last Crash to $9,000,000 Income in 9 Years w/Brent Daniels
BiggerPockets Real Estate Podcast
Introduction
Brent Daniels runs a wholesaling business that is very successful. He frequently puts deals togethers that other people would let die. In today's show we hear about his rags to riches story, and a lot of other information.
The last housing crash wasn’t a good time for most Americans. And for Brent Daniels, it was the worst time of his life. Before the crash, he was riding high, making six figures, living in a big house with a new car, and building a real estate brokerage with eighty employees. Then, the market started to tank, and so did Brent’s revenue. He had to let go of all eighty workers, watch his car get repossessed, and witness his wife leaving him. But that wasn’t all. The ten-year office lease for his brokerage was still due, and the owners shackled him with seven hundred thousand dollars of debt.
Brent hit rock bottom as his reputation lay ruined, forced to stay with friends to survive. He slowly got back into real estate, making a few hundred dollars here and there. But then, one day, Brent stumbled upon an assignment fee. He watched one of his friends walk away with a five-figure check simply for flipping a contract to an investor. Thus, the wholesaling fire was sparked, and Brent gave up his dreams of becoming a top agent or real estate investor.
He hit the phones, finding as many motivated sellers as possible. From there, Brent shares how he built a business that does over a million dollars a year with just four team members, why he doesn’t invest heavily in real estate, and the exact script he uses to get hefty wholesale fees from motivated sellers. Now, with a net worth of over eight million dollars, Brent has proven that no comeback is impossible and that the best foundation for success is rock bottom.
In This Episode We Cover:
Overleveraging and Brent’s mistakes that made him lose everything in the last crash
The toxic “supreme ego” that will push you to take risks that are never worth it
Paying off six figures in debt and how to rebuild when starting from below zero
The secret to talking to motivated sellers and the four pillars of negotiation in a deal
Cold calling tips and what you should NEVER say to a seller
How to scale a LEAN business that operates almost entirely without you
A glimpse into an alternate universe where Henry Washington is David Greene’s wife
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
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
The Newbie’s Guide to Wholesaling in 7 Simple Steps
5 Cold Calling Techniques That Really Work
3 Types of Motivated Sellers (& How to Win Deals By Solving Their Problems!)
How to Stop Worrying and Start Living
Books Mentioned in the Show
Rich Dad Poor Dad by Robert Kiyosaki
Connect with Brent:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-731
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