512: From Losing $150k at the Blackjack Table to 7-Figure Profits in Real Estate

Sep 30, 2021

Jude Bernard, a former blackjack player turned real estate mogul and founder of The Brooklyn Bank, shares his incredible journey from losing $150,000 gambling to making seven-figure profits in real estate. He discusses the mindset needed to overcome setbacks, emphasizing the lessons learned from his tumultuous past. Jude also highlights the importance of financial empowerment for communities of color and how fostering connections and resilience can transform lives. His insights into calculated risk-taking and philanthropy are both motivating and eye-opening.

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ADVICE

Building Relationships and Education

Build relationships with everyone, as anyone can be a source of leads.
Educate yourself on deal-finding strategies and explore various avenues like connecting with attorneys or visiting foreclosure offices.

ADVICE

Overcoming Fear

Embrace discomfort and fear as motivators for growth.
Take calculated risks and push beyond your comfort zone, using fear of the unknown as a driving force.

ANECDOTE

Vegas Loss and Tattoo

Jude Bernard, a recovering gambler, once played blackjack for 30 hours straight, losing $150,000.
He got a "never again" tattoo as a reminder, viewing the experience as a turning point.

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Back in 2004, Jude Bernard was sitting at a blackjack table in Vegas. This wasn’t his first game of the day, nor his second, or even his third. Jude had been sitting at that blackjack table for thirty hours straight. When the final game ended, he walked away, $150,000 poorer than he started. Jude then found the closest tattoo parlor, walked in, and got the phrase “never again” tattooed on his hand as a testament to his mistake.

Now, Jude runs a rental and flipping empire, settling for no less than seven-figure profits on his fix and flips. He also runs The Brooklyn Bank, a non-profit designed to help economically empower people of color in New York City. Through his earlier gambling mistakes, Jude realized that no matter what, the “house” always wins. So, he searched for a way that he could become the “house” in his environment, and the best way was through real estate investing.

Jude has built a very strong foundation for his real estate investing through taking calculated risks, nurturing his relationships, and letting his fears fuel his fire.

Jude is currently raising money to help the people of Haiti through their most recent natural disaster. Brandon and David have both pledged $5,000 each. To help out, even more, Brandon wants all listeners to know that If you donate $5,000 to The Brooklyn Bank organization, Brandon will host you in Maui! For full details please contact Matt@odcfund.com.

In This Episode We Cover:

Purchasing properties in very expensive markets (like New York City)

Building relationships with everyone you talk to, funneling more deals into your pipeline

Making sure every deal has a seven-figure upside (seriously!)

Using your greatest fears to propel you to the next level

Gambling addiction and the message behind why the “house” always wins

How the Brooklyn Bank is helping build a pathway out of poverty

How you can spend a week with Brandon and help support a great cause

And So Much More!

Links from the Show:

BiggerPockets Podcast 512: From Losing $150k at the Blackjack Table to 7-Figure Profits in Real Estate

BiggerPockets Podcast 455: Mixtapes to Millions in Real Estate with DJ Envy and Cesar Pina