BiggerPockets Real Estate Podcast

Author Scott Trench shares tips on house hacking, using the BRRRR method, and the three stages of wealth. He discusses finding a job you love, skills for success, and advice for first deals in real estate.

Success leaves clues! Rather than trying to figure it all out on your own, why not listen to someone who has been involved with nearly every aspect of real estate for decades? On today’s episode of The BiggerPockets Podcast, we sit down with Jay Hinrichs, an investor and hard money lender from Oregon, to learn how he has navigated the real estate market for more than 40 years—and how you can grow your own business from his wisdom!In This Episode We Cover: How Jay Hinrichs started when he was 18 A discussion on whether you should get a license or not His first houses in the Bay area Why agents are not investing What a hard money lender is How to be approved by hard money lender How Jay became the largest hard money lender in his area Why you should consider the BRRRR strategy (and how he’s been doing it for years) How to do something nice for somebody (through BiggerPockets) Why you should go ask in the Forums Tips for finding the right partners How to get the “lion’s share“ The most common question in the Forums And SO much more! Links from the Show BiggerPockets Forums BiggerPockets New Members Introduction Joel Owens’ BP Profile Josh’s Twitter Profile BiggerPockets Keyword Alerts BiggerPockets Hard Money Lenders (listing) Books Mentioned in this Show Think and Grow Rich by Napoleon Hill Rocket Fuel by Gino Wickman Tweetable Topics: “When you’re starting out and you don’t have the money, you need to honor the money.” (Tweet This!) “Any investor that I bring in a deal always makes more money than I do.” (Tweet This!) “I will never retire. I’ll be doing this until I’m not functional. I love what I do.” (Tweet This!) “Every market is different. You have to play to the market.” (Tweet This!) Connect with JayJay’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

A lot of people want to invest in rental properties, but a lot of people also fail when they jump in. Why? That’s the topic on today’s episode of the BiggerPockets Podcast, where we sit down with Tim Shiner to learn his story of going from zero to over 150 units and the lessons he picked up along the way. You’ll hear some incredible strategies for getting unicorn deals when there are multiple offers, the #1 most important characteristic Tim looks for when buying a property, and why he focuses primarily on “higher end” rental houses. You’ll love all the humor, wisdom, and knowledge Tim brings to the show, so sit down, relax, and be prepared to learn!In This Episode We Cover: How he got started buying quality real estate What makes his location special Why he doesn’t have a real estate license The importance of looking at the “horizon” and the end goal A discussion on diversification on investments The story of the “big white card board“ Why you should focus on what you are better at Tips for finding mentors The details on his 140 deals Insight into the debate on high-end vs. low-end properties Why he loves appreciation Tips for partnering with your significant other A discussion on buying your kid a property How he finds deals Why you should set a goal, achieve it, and reward yourself And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar Be a Guest to the Show School of Life Podcast Control Uber Books Mentioned in this Show Elon Musk by Ashlee Vance Rich Dad Poor Dad by Robert Kiyosaki Rich Dad’s CASHFLOW Quadrant by Robert Kiyosaki The 10X Rule by Grant Cardone 50 Things They Didn’t Teach You in School by Tim Shiner Tweetable Topics: “Nobody cares as much about your investments as much as you do.” (Tweet This!) “The goal is to get as many checks coming in the mail as possibly as you can.” (Tweet This!) “If you have a strong enough ‘why’ while you invest, that will plow your way.” (Tweet This!) “Set a goal, achieve it, and reward yourself.” (Tweet This!) Connect with Tim Tim’s BiggerPockets Profile Tim’s Company Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Many people buy real estate hoping to make great cash flow. But all too often that cash flow is quickly eaten away by a silent but deadly thief. In this episode of the BiggerPockets Podcast, Josh and Brandon sit down with real estate investor Jesse Fragale to hear his story and learn more about how this silent killer can eat away your profits if you don’t analyze a deal right. You’ll also learn how Jesse found a way to invest in a crazy expensive market, as well as tips on using partners, scaling to larger properties, and the worst pickup line Jesse has ever used!In This Episode We Cover: How Jason got into real estate because of a car Why he chose the niche of student rentals 4 ways to earn in real estate Tips for managing student rentals The worst day of Jason’s life (aka why CapEx is important) How much you should prepare for capital expenditures The pros and cons of student rentals Thoughts on jumping into multifamily What you should know about the 50% rule Tips for finding the cap rate in an area How to fund a deals using a partnership A discussion on setting expectations with property managers And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BP Podcast 182: 674 Multifamily Units in Three Years with Jake & Gino Wheel Barrow Profits Podcast BiggerPockets Analysis Books Mentioned in this Show The Wealthy Renter by Alex Avery Landlording on Auto-Pilot by Mike Butler Getting to Yes by Roger Fisher The Book on Investing with No Money Down by Brandon Turner Tweetable Topics: “The bigger the deal, the easier it is to do.” (Tweet This!) “If you bring people a good deal, I believe that they will take it for what it’s worth.” (Tweet This!) “I think there’s success in every facet of real estate.” (Tweet This!) Connect with Jesse Jesse’s BiggerPockets Profile Jesse’s Company Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Many people invest in real estate hoping to make “passive income” but instead find they work more than they would at a day job! But not all real estate niches require a lot of time—and today’s show proves that! Today on the BiggerPockets Podcast, we sit down with Dr Kenyon Meadows, a real estate investor who chooses to invest his money using a variety of passive real estate vehicles, including funding other real estate investors, investing out of state through several turnkey companies, and investing in over 30 crowdfunding deals! If you are looking to make your real estate more passive, this is one show you can’t afford to miss!In This Episode We Cover: Who Kenyon Meadows is What you should know about alternative assets How he got into real estate How he structures his private money lending Whether track records matter to him How to impress a private money lender Tips for building permanent wealth How he got into turnkey properties Advice on finding the right turnkey property provider A look at the numbers for a turnkey property How he structures his deals How real estate crowdfunding deals work Kenyon’s future plans What he would tell someone starting out A discussion on investments outside real estate And SO much more! Links from the Show BiggerPockets Forums BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager BiggerPockets Invites Serial Podcast BiggerPockets Analysis P2B Investor Funding Circle Books Mentioned in this Show Essentialism by Greg McKeown Bridge Over Troubled Wall Street by Mr. Stephen E. Gardner The Alternative Answer by Bob Rice Alternative Financial Medicine by Kenyon Meadows Tweetable Topics: “I don’t think you should invest in anything unless you really know the ins and outs of it.” (Tweet This!) “Loaning is great, but if you want to build permanent wealth, then you’ve got to own this stuff.” (Tweet This!) Connect with KenyonKenyon’s Personal Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Why is it some investors buy deals every single month, when others look for years without landing a single great real estate deal? Two words: deal flow. On today’s episode of the BiggerPockets Podcast, we sit down with Erik Stark to talk about how he consistently drives leads to his real estate business using “driving for dollars,” direct mail marketing, and a fascinating “education marketing” strategy that you’ll be excited to try for yourself!In This Episode We Cover: Erik’s background What exactly deal flow is The importance of focusing on the strategy The first step in driving for dollars How to identify a distressed vacant house How he tracks his mailers What systems he has in place, including outsourcing Tips for finding out if there’s existing mortgage on a property The Smart Sell Book he authored What R3 zoning is What’s changed in the past two years since he was interviewed His plan for the next years And SO much more! Links from the Show BiggerPockets Forums BP Podcast 093: 0 to 400 Deals (in 5 Years!) via Smart Marketing with Erik Stark Mike Cantu Brandon’s Instagram – Beardy Brandon! Books Mentioned in this Show Rich Dad Poor Dad by Robert Kiyosaki The Peebles Path to Real Estate Wealth by R. Donahue Peebles The Success System That Never Fails by W. Clement Stone Smart Sell Book by Erik Stark (Contact Erik directly) Tweetable Topics: “You need to stop chasing opportunity and start working a strategy.” (Tweet This!) “I don’t want to spend my life trying to tell people why I’m better than everybody else.” (Tweet This!) “If you are looking at properties and not writing offers, it’s like going to the gym and not working out.” (Tweet This!) “Cash is everywhere now. There’s no shortage of cash; there’s a shortage of real opportunity.” (Tweet This!) Connect with Erik Erik’s Personal Website Erik’s BiggerPockets Profile Erik’s Facebook Profile Erik’s Instagram Learn more about your ad choices. Visit megaphone.fm/adchoices

Every day, our lives are consumed by things that simply don’t amount to much. In fact, most of your successes will come from a very small percentage of your activities. That’s the basic concept of the 80/20 rule, and today’s guest is one of the world’s foremost experts on using the 80/20 rule in business! Today’s guest is Perry Marshall, author of 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making MoreE, and on today’s fascinating show, Perry dives into how to use this principle to work less and achieve more. And don’t miss the fascinating discussion on how to make $10,000 an hour; if you’ve never heard this concept before, it’s about to blow your mind (and business) into the stratosphere!In This Episode We Cover: Perry’s background and how he got into marketing How he stumbled upon the 80/20 principle Why it’s alright to let go of tenants causing you issues The 80/20 inside the 80/20 How this affects investors with rental properties What we can learn from the “principle of the 2700 espresso machine“ The most important thing in direct mail marketing The 5 qualifiers you should know when selling What to consider about the concept of retargeting How to handle a bad response rate A tip to help you make $10,000 an hour Why you should say no to a lot more things How to differentiate the $10 an hour job from the $10,000 an hour job And SO much more! Links from the Show BiggerPockets Forums Upwork Books Mentioned in this Show 80/20 Sales and Marketing by Perry Marshall Ultimate Guide to Google AdWords by Perry Marshall Ultimate Guide to Facebook Advertising by Perry Marshall The 80/20 Principle by Richard Koch The Star Principle by Richard Koch The Book of Proverbs Tweetable Topics: “80/20 is everywhere.” (Tweet This!) “We can fix so many problems by doing so little.” (Tweet This!) “Half of what you are doing right now you shouldn’t be doing.” (Tweet This!) Connect with Perry Perry’s Personal Website Get his book 80/20 Curve Perry’s Twitter Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of The BiggerPockets Podcast, we’re pumped to introduce you to Damion Lupo, an experienced real estate investor and hard money lender who has seen it all in real estate—both the good and bad! You’ll learn how it was Damion’s naiveté that led to his early success (and why naiveté matters), as well as the traits that helped Damion build up an incredibly successful cash-flowing business. And don’t miss Damion’s story of the murdered security guard or his golden answers to the question, “How do you get a lender to say yes?” In This Episode We Cover: Damion’s first deal that he financed with his Visa card How you can be naive and still make it A discussion on whether it’s harder to find deals nowadays What you should know about driving for dollars The deals he has done so far The murdered guard story Why he wants to be the bank What exactly a lease option is How he structures his partnership A discussion on whether people should get an LLC or not Damion’s view on cash flow What he did to get through the downturn in 2008  Advice for those who want to be hard money lenders Tips for convincing a hard money lender What’s next for Damion And SO much more! Links from the Show Visit Path to Purchase on your Biggerpockets Dashboard BiggerPockets Events BiggerPockets Forums Pet Food Meetup.com Incorporate The Profit with Marcus Lemonis Books Mentioned in this Show Rich Dad Poor Dad by Robert T. Kiyosaki The Success Principles by Jack Canfield Abundance by Peter Diamandis and Steven Kotler Rich Dad’s Cashflow Quadrant by Robert T. Kiyosaki Mastery by George Leonard Tweetable Topics: “With real estate, there was this unlimited potential that is really only limited by me and my thinking.” (Tweet This!) “You can create massive financial wealth with real estate with an 8th grade education. Really, it’s up to you.” (Tweet This!) “People don’t realize the laws of selling. You don’t close deals on your first time.” (Tweet This!) “The way you do anything is the way you do everything.” (Tweet This!) “The worst teacher is success.” (Tweet This!) Connect with Damion Damion’s Personal Website Damion’s Company Website Damion’s Amazon Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Boston is a tough market. Prices are high, but even high rents aren’t enough to make it profitable to invest. Ricky Beliveau makes money by renting to students, converting small multifamily buildings into condos (it’s easier than you think!), and transitioning unused space into more bedrooms to add massive value.In This Episode We Cover: How Ricky started by borrowing money from his mom Thoughts on buying an expensive property in an expensive market How he got 4 signers and co-signers per unit Tips for finding a property manager The upsides to having a college rental How he achieves next to zero vacancies How he tenant-proofs his rentals The value of his property today The details of his next deals How to find these gems of properties What a condo conversion is The average cost for condo conversion with an attorney How he sets the HOA up How to tell if a property is good for conversion Thoughts on keeping a day job while investing How to find reliable contractors What’s next for Ricky And SO much more! Links from the Show BiggerPockets Marketplace BiggerPockets Forums BiggerPockets Pro BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager East Boston Project (Forum Post by Ricky) BiggerPockets Analysis How I Built This Podcast Mindy’s Twitter Account Books Mentioned in this Show Flipping Confidential by Kirsten KempTweetable Topics: “Let the experts do what they do well, and you can do what you do well.” (Tweet This!) “If a property has a major foundation issue, your profits can just disappear.” (Tweet This!) “Don’t say ‘I can’t.’ Instead, figure out a way to do it.” (Tweet This!) Connect with Ricky Ricky’s BiggerPockets Profile Ricky’s Website Ricky’s Instagram Profile Ricky’s Facebook Page Learn more about your ad choices. Visit megaphone.fm/adchoices

Some investors buy a single house. Some buy a small multifamily. But today on The BiggerPockets Podcast, we sit down with someone who jumped into real estate in a much bigger way! Joel Sherlock is an investor from Canada who put together a $30 million dollar fund to buy real estate in America. You’ll learn why he went this route and how you can follow a similar strategy in your own business. You’ll also learn about Joel’s entrance into the world of commercial real estate, including the pros and cons of that niche.In This Episode We Cover: How Joel started real estate back in college Why he eventually moved his investing in Canada to America How he was able to come up with $32 million in funds What a “hurdle rate” is Why he considers his model to be conservative  The kind of properties he’s buying Why he chose Scottsdale Innovative strategies for finding deals How he “trades deals“ How to get fixed-priced bids from contractors Why he’s made the move to commercial real estate Why people avoid commercial real estate How to evaluate strip malls Tips for analyzing commercial deals Future plans for his business And SO much more! Links from the Show We are hiring! BiggerPockets Forums Bond BP Podcast 047: Apartment Complexes, NNN Leases, and Commercial Real Estate with Joel Owens Books Mentioned in this Show The Millionaire Real Estate Agent by Gary Keller Shift by Gary Keller Think and Grow Rich by Napoleon Hill The Saint, the Surfer, and the CEO by Robin Sharma Tweetable Topics: “It’s exactly the same thing, there is just more zeroes.” (Tweet This!) “In the real estate sales world, as soon as you stop selling, you stop stop making money.” (Tweet This!) “Getting started is the key. You don’t have to be great to start but you have to start to be great.” (Tweet This!) Connect with Joel Joel’s BiggerPockets Profile Joel’s Website Joel’s Company Website Learn more about your ad choices. Visit megaphone.fm/adchoices