BiggerPockets Real Estate Podcast

On today’s episode of the BiggerPockets Podcast, we have Phillip Vincent, an acquisition specialist who hails from the St. Louis, Missouri area. Phillip is part of a large real estate investment firm, handling all the ins and outs of getting properties under contract. This week’s podcast goes into great detail on how to interact with distressed homeowners, how to generate leads from the high-end price points  and walks you through the best way to handle Probate leads.Additionally, Phillip is particularly knowledgeable in wholesaling and shares excellent insight on exactly what you need to do to get started in real estate, ethically. This is an action-packed show, so let’s get into it!In This Show, We Cover: Powerful and unique lead generation The benefits of having a real estate team How to flip a $1,000 house How to actually purchase in high-end markets How Phillip lost $200,000 on a spec build Time Capsule Homes and why they make great investments Using SEO and PPC to get deals A snapshot of the life of an Acquisition Specialist Why marketing doesn’t really cost you any money… How to leverage wholesalers and newbies for lead generation The importance of being ethical when wholesaling How to network effectively And a whole lot more! Links Mentioned The BiggerPockets Marketplace How NOT to Flip a House: An Embarrassing Story of Wasted Time, Money, and Opportunity Automatic.com Books Mentioned in the Show Rick Dad Poor Dad by Robert T. Kiyosaki The Big Rich: The Rise and Fall of the Greatest Texas Oil Fortunes by Bryan Burrough Tweetable Topics“In real estate, don’t buy weird.” (Tweet This!)“Find people in your market that have too many leads and simply go help them with those leads.” (Tweet This!)Connect with Phillip Phillip’s BiggerPockets Profile FasterHouse Website: http://www.FasterHouse.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of the BiggerPockets Podcast, we sit down and chat with a real estate investor who is absolutely CRUSHING IT in a very unique niche. Grant Kemp, from the Dallas Area, got his start in real estate only 2 years ago and already has hundreds of transactions under his belt, and regularly purchases 6-15 properties a month!On the show today, Grant shares with us the dirty details on his business and shows how YOU can start capitalizing on more leads, make more income, and spend less (or even none) of your own money to make it all happen! The best part is: Grant’s strategy relies on generating profits from leads that most real estate investors simply throw away by utilizing subject-to purchases and mortgage wraps! Don’t miss a second of this incredible interview and prepare to have your mind blown!In This Show, We Cover: What “Subject To” investing is, and how you can use it to acquire properties for little to nothing down. What a wrap-around mortgage is How to protect yourself from the ‘due-on-sale’ clause How to use sell to the owner-finance market How Grant uses other wholesalers to grow his network Where to find leads for subject-to deals Clarity on the Dodd Frank from someone who actually read it in it’s entirety The importance of full-disclosure when doing subject to Selling via seller financing to get incredible returns And a lot more! Links Mentioned How to “Hack” Your Housing and Get Paid to Live for Free BP Radio Podcast 002: Starting Out with Karen Rittenhouse – Subject To, Direct Mail, and Investing from a Woman’s Perspective Podio Books Mentioned in the Show Rick Dad Poor Dad by Robert T. Kiyosaki The Richest Man in Babylon by George S. Clason The Bible BiggerPockets Forums Tweetable Topics “I asked myself, “How do I get into real estate with no money? The answer was subject-to.” (Tweet This!) “In real estate you just got to do it… it’s the Nike way.” (Tweet This!) Connect with Grant Grant’s BiggerPockets Profile Grant’s Website: www.texaspridelending.com Grant’s LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of the BiggerPockets Podcast, we sit down and chat with a real estate investor who is a successful wholesaler and rehabber out of the Grand Rapids, Michigan area. Brandon Krieg shares his insights on how he transitioned out of a full-time job to become a full time real estate investor and shares some incredible insight for others who are thinking about making the leap themselves. During the show, Brandon speaks on the importance of integrity in business and the priority of taking care of family and then continues on to shed light on his innovative marketing tactics, that has him averaging a 15-25% response rate with direct mail!Whether you are a new investor struggling to figure out how to generate deal flow or struggling with making the transition from part-time real estate to full-time or you’ve been investing for years and need some marketing tips to take you to the next level, this is the show for you.In This Show, We Cover: How to transition from a full time job you hate to full time real estate How to find good wholesalers The keys you need to succeed at wholesaling How Brandon uses direct mail with an  15-25% response rate How to ethically use bandit signs How Brandon used BiggerPockets to grow his network Who Brandon uses for his direct mail success How many deals should you do before jumping into real estate full time? How to handle leads outside your comfort zone How important are business systems? And a lot more! Books Mentioned in the Show Game of Thrones by George R.R. Martin E-Myth by Michael E. Gerber Lord of the Rings by J.R.R. Tolkien The Book on Flipping Houses by J Scott The Book on Estimating Rehab Costs by J Scott FLIP, by Rick Villani and Clay Davis Tweetable Topics “If I quit real estate when it gets tough, I lose my chance of gaining success from it.” (Tweet This!) “Ask yourself, “If this client was my sister, my cousin or my uncle, how would I help them?” (Tweet This!) “The greatest moments of growth in my life have always been sparked by great books.” (Tweet This!) Connect with Brandon Brandon’s BiggerPockets Profile Brandon’s Website: TheHoneyBeeHomes.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Today on the BiggerPockets Podcast we sit down with real estate investor Mark Ferguson to talk about his adventures in flipping and renting single family homes in the Colorado market. Mark is truly a real estate superhero: managing a real estate sales team, flipping houses, making offers, being a landlord, and writing about real estate all while working less hours than the normal employee (all while also having twin toddlers at home!)Mark has truly mastered the art of delegation, team building, and using systems to stay on track and find success in his business – and he shares all his secrets with us today, so don’t miss a second of this incredible show!In This Show, We Cover: Should you get your real estate license? Tips for buying properties on the MLS Using electronic signatures to get more deals Why Mark doesn’t buy multifamily properties How to find a niche and strategy for your investment business Finding the “sweet spots” in your market Working with Portfolio loans When should you hire an employee to manage your rentals? Why Mark chooses to pay off his loans Finding and managing contractors How Mark decides if he’ll flip or rent a house Finding time to fit in all the busy parts of life The team members who help Mark work less than 40 hours per week Why Mark wants to buy 100 houses How to invest when the bank says “no.” And lots more! Links from the Show BiggerPockets Success Stories Forum Five Tips to Get Great Deals On the MLS (Including Buying Houses on Friday…?) by Mark Ferguson The Real Estate Agent’s Ultimate Guide to Working with Investors BiggerPockets.com/meet How Life Coaching has Helped Improve My Business and Life by Mark Ferguson Books Mentioned in the Show The Millionaire Real Estate Investor by Gary Keller The Millionaire Real Estate Agent by Gary Keller Think and Grow Rich by Napoleon Hill Tweetable Topics Take care of your real estate agent and they’ll take care of you. (Tweet This!) When looking for good real estate deals, speed is the name of the game. (Tweet This!) When investing in real estate – no one is going to do your job for you. (Tweet This!) Make goals – and then break them down into actionable steps to accomplish them. (Tweet This!) Connect with Mark Mark’s BiggerPockets Profile Mark’s Website: www.InvestFourMore.com Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of the BiggerPockets Podcast, we sit down and chat with a real estate investor who wasn’t seeing a lot of action in his business – until a friend challenged him to take his investing seriously and start treating it like a business.Our guest today, Tim Gordon, accepted the challenge, changed his approach, and his business took off! Several short years later, Tim Gordon runs a successful investment business that focuses primarily on finding and wholesaling incredible deals in a competitive market, making tens of thousands of dollars every month in his business while still working a day job. Tim shares with us the lessons he learned to overcome inaction and the steps needed to consistently fill his pipeline with deals worth tens of thousands of dollars.Whether you are a new investor struggling to get your first deal, or you’ve been investing for years and need a motivational kick to take your business to new levels, this is the show for you.In This Show, We Cover: How Tim used BiggerPockets to get started Why it took Tim a full year to get his first deal Should new investors start with wholesaling? The major skill you need to succeed at wholesaling How Tim uses direct mail to find leads Reverse engineering to find success in wholesaling Tips for negotiating with motivated sellers The exact messaging on Tim’s direct mail postcards How Tim finds the “Big Dog“ cash buyers How many cash buyers do you need? The best deal Tim has ever done – $48,000 over a round of beers The catalyst that helped Tim take his business more seriously Working with assistants and others in your wholesaling business Why Tim makes $60 every time someone calls him And a lot more! Links from the Show: Zoho CRM Act CRM Salesforce CRM BiggerPockets Pro Memberships Books Mentioned in the Show Good to Great by Jim Collins Think and Grow Rich by Napoleon Hill Rich Dad Poor Dad by Robert Kiyosaki Lifeonaire by Steve Cook and Shaun McCloskey Tweetable Topics “The idea of running a business through an excel sheet – if there is a Hell, that’s it.” (Tweet This!) “Until I can go away for 2 weeks, and have the business still making money, it’s still a job.” (Tweet This!) “Wholesalers are not your competitors, they are your allies.” (Tweet This!) “My favorite word in all of real estate is ‘vacant.'” (Tweet This!) Connect with Tim Tim’s BiggerPockets Profile Tim’s Website: GordonBuysHomes.com Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s show, we sit down with real estate entrepreneur Michael Blank to talk about his journey from a successful house flipping business and his entrance into apartment buildings… and the systems needed to run his investments well.Michael is a business entrepreneur through and through and today we get to talk about everything from getting started, investing with no money, working with (and as) a wholesaler, and even hear the story of the professional tenant that almost destroyed Michael’s investment career!This show is packed with useful, actionable tips, so don’t forget your pen and paper on this one… you are going to need it!In This Show, We Cover: How Michael started his investing journey by flipping dozens of houses per year Why building up a network of wholesalers is important How Michael raised money to fund his flipping The “magic question” to ask when raise private money Michael mistakes and successes when getting started Developing a great real estate team Using virtual assistants in your business Michael’s transition from flipping to apartment complexes Michael’s tricks for finding great commercial real estate deals Michaels take on the topic of rent control Michael’s major mistakes in his REI career… and that one tenant in DC And so much more!  Links from the Show BP Podcast 033: How to Close 27 Deals in Your First Year While Working Full Time with Sam Craven eLance.com Loopnet.com Marcusmillichap.com Cbre.com Tweetable Topics “Cutting corners hurts you and your business at the end of the day.” (Tweet This!) “When you have a good team, firing on all cylinders, you can do amazing things.” (Tweet This!) “You get what you negotiate.” (Tweet This!) “The secret to success is to be intentional.” (Tweet This!) Books Mentioned in the Show Rich Dad, Poor Dad by Robert Kiyosaki Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal by Oren Klaff The 4-hour Workweek by Timothy Ferriss Connect with Michael! Michael Blank’s BiggerPockets Profile TheMichaelBlank.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Working a full time job while investing in real estate is not always easy – but as our guest today shows us: it’s totally possible. On today’s show we chat with Josh Sterling, a real estate investor who has built up a portfolio of fifty units (complete with rehabs and doing his own management) all while working a full time job.Discover the tricks, tactics, and systems that Josh has used, as well as an inside look at his creative finance methods to acquire these properties. This show is definitely one that people will want to come back to time and time again!In This Show, We Cover: Why doing things “the typical way” may not have been the right path Investing when the bank says “no.” How Josh used credit cards to buy his first few properties Portfolio lenders: the best technique for finding one Using a blanket loan to buy and sell real estate Using the 2% rule to screen for great properties How Josh managed his real estate business while having a full time job How Josh finds deals  Using Homepath Mortgages for 10% down investment loans How Josh found his first apartment complex using Facebook! Dealing with tenants while working a full time job And so much more!  Links from the Show BiggerPockets.com/pro (New Video!) BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager BP Podcast 055: The Five Steps Needed to Get Any Lender to Say “Yes” with Jimmy Moncrief The 2% Rule BP Podcast 061: How to Succeed in Multifamily Investing – A Unique Conversation with Josh, Brandon, and Ben HomePath.com BP Podcast 063: Automating Your Investing, Long Distance Rehabs and Spec Building with J Scott Jason Hartman Podcast Buildium Property Management Software Tweetable Topics “If you can stand out, do extra work – you are going to get incredible results.” (Tweet This!) “Buy and Hold real estate is the best way to build wealth.” (Tweet This!) “I’m much more of a ‘ready fire aim’ kind of guy.” (Tweet This!) “Be proactive, not reactive, when looking for contractors.” (Tweet This!) Books Mentioned in the Show Rich Dad, Poor Dad by Robert Kiyosaki The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Connect with Josh!Josh Sterling’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Today on the BiggerPockets Podcast we are thrilled to bring back one of the most popular guests we’ve ever had, J Scott.Last time we dug into the process of house flipping, but today we dig much deeper into the “business” of real estate investing and explore ways to automate your real estate investing business so you can spend less time working and more time doing the things you love. We also learn all about J’s venture into house flipping at a distance as well as his foray into spec building (and the lesson’s he learned… and things you should avoid!)This show is incredibly inspiring and can help any new or seasoned investor improve their game – especially the 5 tips for automating your business, found toward the end of the show!In This Show, We Cover: How J chose his location for long distance flipping The difficulties of rehabbing at a distance Incredible tips for finding great people to work for you Why J’s advice is “don’t trust anyone…” Getting bids on your work the easy way How to make the permit process MUCH faster and easier A step by step financial breakdown of J’s recent spec build The “best answer” Brandon’s heard on the podcast ever… J’s 5 tips for automating your business And so much more!  Links from the Show Real Estate Rewind: The BiggerPockets Community Book!  The Book on Flipping Houses Diary of a New Construction Project PlankIsland.com What Is The Best Interior Paint for Landlords and House Flippers? (Hint… It’s Not What You Think) Tweetable Topics “Nobody cares about your properties or your assets more than you do.” (Tweet This!) “Great people tend to associate with other great people.” (Tweet This!) “By automating things in your business, it frees up time for your family.”  (Tweet This!) “Do the things that are most important, don’t do the things that aren’t important.” (Tweet This!) Books Mentioned in the Show Real Estate Rewind: The BiggerPockets Community Book!  BiggerPockets’ The Book on Flipping Houses by J. Scott BiggerPockets’ The Book on Estimating Rehab Costs by J. Scott Diary of a New Construction Project Ebook by J. Scott The 4-hour Workweek by Timothy Ferriss The E-Myth Revisited by Michael Gerber Connect with J Scott J Scott’s BiggerPockets Profile J Scott’s Website: www.123flip.com  Learn more about your ad choices. Visit megaphone.fm/adchoices

Managing tenants can be a real pain.Trust me.However, on this episode of the BiggerPockets Podcastwe sit down with a full time property manager to talk about the business of managing tenants – and discover ways to make it easier and more profitable for YOU.Today Phil Dwyer from the Las Vegas area shares with us his story of becoming a real estate appraiser and transitioning to a successful property manager. In addition, we also discuss the best strategies for finding and managing the best property managers.If you have any rental properties – or ever plan to – this is a “don’t miss” episode!In This Show, We Cover: Dealing with FHA buyers Where to buy – appreciating areas vs. declining areas Finding a great property manager Why Phil chose Vegas to build his business Getting started by working a job in real estate  The most difficult part of investment property management? How to know if you are getting ripped off from your management company. The #1 best way to know how your tenant will act for you “What Would You Do” questions for Phil Red flags for tenants Dealing with pets in a rental Single family vs. Multifamily Investments What property management software Phil uses And so much more!  Links from the Show BiggerPockets Show 61 on YouTube BP Podcast 007: Making Appraisals Work For You with Ryan Lundquist FHA Home Inspection Checklist Property Manager Interview Checklist Books Mentioned in the Show Landlording on Autopilot by Mike Butler The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Connect with Phillip Phillip’s BiggerPockets Profile Phillip’s Website: VegasDigs.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Change is good, right?We hope so – because in this episode of the BiggerPockets Podcast, we change a lot of things up and invite you to come sit in the BiggerPockets digital coffee shop and listen in on a fascinating discussion! For the first time, we bring back a previous guest on the BiggerPockets Podcast to move beyond “their story” and dig into the dirty details on a very popular and important topic: multifamily rental properties.Today Ben Leybovich, who shared with us his powerful journey almost a year ago on episode 14 of the BiggerPockets Podcast, is going to talk with us about what it takes to succeed as a multifamily investor – looking beyond the numbers and truly investing in the right kind of properties.As I said- this show is a little different. Rather than just an interview, we decided to make this episode more of a “conversation” between Ben, Josh, and myself – discussing (and often loudly debating) everything from “what kind of properties to buy,” “what kind of location someone should buy in,” and a long debate on one of Brandon’s most recent purchase- the ugly purple triplex.Although this is our longest show, at almost two hours in length, I think this is one of the most powerful podcasts we have ever done because it’s totally unfiltered, deep, and raw. Come be a fly on the wall in our “digital coffee shop” and discover everything you ever wanted to know about investing in multifamily rental properties.In This Show, We Cover: Managing single family versus multifamily properties Why cash flow is not enough to base your decisions on Brandon’s “Waldo” property: good, bad, or something else? (Leave your opinion on the debate in the comments below!) The Validity (and Problems with) the “Rental Property Rules“ The 13 Steps to Analyzing a Multifamily Property How valuation differs between single family and multifamily Dealing with studio or one bedroom apartments Why Ben doesn’t like 2 bathrooms in an apartment Ben tells Josh to “shut up“ How to really learn what expenses will be And a lot more!  Links from the Show BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager BP Podcast 060: From 0 to 68 Rental Units in Just Four Years with Serge Shukhat How I Found, Analyzed, and Bought an Ugly Purple Rental Property (Waldo) by Brandon Turner Should I Buy a Rental Property with Great Cash Flow in a Bad Location? by Brandon Turner How to Buy a Small Multifamily Property by Brandon Turner Bigger Pockets Rental Property Calculator Bigger Pockets Fix and Flip Calculator The 50% Rule: How to Quickly Analyze a Multifamily Investment Property BiggerPockets.com/meet  (Find Local BiggerPockets Members) Books Mentioned in the Show Landlording on Auto-Pilot by Mike Butler 13 Steps to Valuing Your First Multiplex – A Step by Step Guide [Kindle Edition] by Ben Leybovich Tweetable Topics You can put lipstick on a pig all day long – but if you have a pig, you still have a pig. (Tweet This!) We don’t put money into property- we put money into location. (Tweet This!) If you wanna fly – you need to hang with people who fly. (Tweet This!) Stumbling blocks and stepping stones look very much alike. (Tweet This!) Our job as an entrepreneur is to produce cash flow out of thin air. (Tweet This!) Connect with Ben Ben’s BiggerPockets Profile Ben’s Website: JustAskBenWhy.com Learn more about your ad choices. Visit megaphone.fm/adchoices