BiggerPockets Real Estate Podcast

BiggerPockets
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Apr 4, 2023 • 47min

748: From $5/Hour to Five-Figure Rent Checks Thanks to "Guaranteed" Rent w/Anne Curry

A preschool teacher turned rental property millionaire!? You wouldn’t believe it at first. How could someone like Anne Curry go from making five dollars per hour to bringing in five figures’ worth of rent checks every month? While it didn’t happen overnight, Anne’s story is one that’s repeatable by almost everyone, no matter where you’re starting financially, how much education you have, or your background.Anne was never destined to be rich. She grew up in a household of non-profit workers, teachers, and those that expected to give more than they got. So when Anne married her husband, a social worker, she knew their chance of owning a home, let alone several, was slim to none. But, her fire for financial freedom and generational wealth never stopped burning, and as soon as she could purchase her first property, she made the jump that changed the course of her life.Now, as an affordable housing landlord with hundreds of units, Anne is on a mission to not only build wealth but help others follow her same path. She went from having very little money to an astonishingly large real estate portfolio simply by asking questions, offering help, and having a tenacious attitude to build up others, not just her bank account. She explains how ANY landlord can get into affordable housing, the massive benefits that this type of investing offers, and the common myths most people get wrong about section 8 and guaranteed rent. In This Episode We Cover:Affordable housing myths and why most landlords are wrong about section 8 tenantsHow to find affordable housing deals and the HUGE grants local governments offerScaling into multifamily and how to connect with those that have affordable housing dealsFinding a mentor, asking questions, and why you MUST be willing to learn before you investThe new BRRRR method that’ll let you level up your wealth while owning your homeTypes of affordable housing and who to talk to if you want to convert your rental to section 8 housingAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidRob's BiggerPockets ProfileRob's YouTubeRob's InstagramRob's TikTokRob's TwitterKiller Cash Flow with This “Tenant-First” Section 8 Rental StrategyWhy I’m Investing in Affordable Housing for the Long HaulThe Pros and Cons of Accepting Section 8 HousingWhat is the BRRRR Method?Connect with Anne:Anne's InstagramAnne's WebsiteClick here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-748Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Apr 2, 2023 • 54min

747: Seeing Greene: “Amplifying” Your Equity and When to Pay Off Debt vs. Invest

Want to buy rental properties while the market is down? If you didn’t already know, you could be sitting on the perfect funding source found right under your own feet. But with today’s mortgage rates still double what they were last year, is taking out any of your equity a mistake, or could this be the opportunity of a lifetime to scoop up some sweet real estate deals at a stellar price? We’ve got our expert investor, lender, broker, and ship-metaphor-making host, David Greene, to give you his wealth-building secrets.Welcome back to another Seeing Greene, where we take questions live from BiggerPockets listeners on how you can retire early with real estate, build a business you love, and create generational wealth. This time, we’ve got questions on how to use home equity to buy more property, then we debate cash flow vs. appreciation and which is a better bang for your buck. We’ll also compare commercial vs. residential real estate and explain how these two seemingly similar assets operate VERY differently. And finally, David gives his favorite news sources on where to learn about the economy, the housing market, inflation, and every other variable that’ll help you make intelligent investing decisions!Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: Refinancing vs. selling and what to do with high equity but high mortgage rates Appreciation vs. cash flow and why bad neighborhoods are NOT for rental property investing Residential vs. commercial real estate and why it gets tricky when funding bigger deals Bitcoin as an alternative to cash and why the rich are still investing in a downturn  Portfolio architecture and how to buy rentals that build wealth (not just cash flow) Where to learn about economic trends, data, and the housing market  Paying off debt vs. investing in real estate (and which to do first)  And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 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 David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Network with Other Investors at a BiggerPockets Meetup Cash Flow vs. Appreciation Portfolio Architecture 101 The Patrick Bet-David Podcast Sign Up for David’s Newsletter, ‘Behind the Shine” Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-747Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 30, 2023 • 54min

746: 28 Rentals Before 28 Years Old (and Doing it All in Just 3 Years!) w/Jake Radawick

Twenty-eight rental units before turning twenty-eight years old? That takes some SERIOUS drive. But after talking to Jake Radawick, the whole story makes much more sense. Within three years, Jake built a rental property portfolio that brings in over $200,000 a year in rent and provides Jakes with a full-time salary’s worth of passive income. But Jake wouldn’t have done any of it if it weren’t for his family—specifically his brother.Jake’s older brother has been his “why” for as long as he can remember. He broke through barriers and was able to achieve what most thought impossible of someone with autism. This gave Jake the confidence to go after goals that others told him weren’t achievable. And now, after three years, a lot of work, and some serious goals, Jake has a real estate portfolio that would have taken most investors decades to build. But it didn’t come without its struggles.From financing blunders to pipes bursting and flooded basements, this episode will open you up to the realities of building a sizable rental portfolio. But, if you’re willing to take risks like Jake, pivot when possible, and build a team of investing experts, you too could replace your W2 income with real estate profits in just a few years! In This Episode We Cover:How to build a sizable real estate portfolio in three years or lessKnowing your “why” behind investing and why you NEED one to be successfulHow to save up for a down payment and why side jobs are a MUST when building wealthLive-in BRRRRs and capitalizing on equity to build your portfolio even faster Investing out of state and why balancing cash flow with appreciation is a mustThe “snowball” method that Jake used to buy properties faster than most investorsWhat to do when no one will finance your loan and why you should always have a great relationship with your bankerAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidRob's BiggerPockets ProfileRob's YouTubeRob's InstagramRob's TikTokRob's TwitterNetwork with Other Investors at a BiggerPockets MeetupBook Mentioned in the Show:Buy, Rehab, Rent, Refinance, Repeat by David GreeneInvesting in Real Estate with No (and Low) Money Down by Brandon TurnerSCALE by David GreeneConnect with Jake:Jake's BiggerPockets ProfileJake's InstagramJake's FacebookClick here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-746Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 28, 2023 • 49min

745: The MOST Underrated Way to Get Started in Real Estate in 2023

There is an almost fool-proof way to invest in real estate in 2023. It requires very little money down, no experience in investing, and can be used over and over and over again to build millions of dollars in real estate wealth. The strategy? House hacking! Real estate millionaires agree that this strategy is the BEST way to get started investing and can help launch you to the next level of financial freedom. You DON’T need a ton of time or money to house hack, and doing so could set you up for life.And if you think our empire-building hosts, David Greene, Henry Washington, and Rob Abasolo, aren’t spitting facts, think again. All three of these investors started house hacking and credit it as the greatest move they made to build wealth. But how does house hacking work, and if it’s such a smart move to make, why isn’t everyone doing it? In essence, house hacking allows you to monetize your living space. So, you get paid to have a mortgage instead of paying a mortgage. This could mean renting out your spare bedrooms, Airbnb-ing your mother-in-law suite, or buying a duplex and renting out the other side.And during a time when mortgage rates are higher than many of us have seen before and housing affordability is at an all-time low, house hacking can become your savior of savings, helping you keep more money every month. This compounded savings allows you to buy even more real estate, build your dream portfolio faster, and retire earlier than you thought. So, if you’re ready to invest in real estate, don’t sleep on house hacking! In This Episode We Cover:House hacking explained and why it’s the EASIEST real estate investing strategy of 2023Investing in real estate with no and low money down and why house hacking is the perfect starter optionThe different ways to house hack, from buying a duplex to renting out roomsHow to find and analyze your house hack to ensure it’s paying for itselfThe best housing markets for house hacking and why you DON’T need to cash flowThe house hack stack and the secret to building a multi-million dollar portfolio over just a few yearsAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidRob's BiggerPockets ProfileRob's YouTubeRob's InstagramRob's TikTokRob's TwitterHenry's BiggerPockets ProfileHenry's InstagramTry the BiggerPockets Real Estate Calculators on Your Next DealHow to Start a Real Estate Portfolio with Just $10KBooks Mentioned in the Show:The House Hacking Strategy by Craig CurelopClick here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-745Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 26, 2023 • 53min

744: Seeing Greene: How to Create Cash Flow & Cutting Costs On a Home Renovation

What’s the key to escaping the rat race in 2023? Do you need a rental property LLC for every property, or can you put multiple in one? And how do you create cash flow when housing prices are so high? For the everyday real estate investor, it can seem like profitable rental properties are getting harder and harder to find, and financial independence is slowly slipping away. And while many would give up on their pursuit for early retirement, time freedom, and autonomy over their schedule, we’re here to give you the knowledge you need to hit your wildest investing goals in 2023.We’re back with another Seeing Greene, where your agent, investor, broker, and system-building savant, David Greene, answers your real estate investing questions on the spot! In this episode, we’ll touch on rental property LLCs and how many properties to put in each one, what to do when home prices are high, and cash flow is low, the “new build BRRRR” that could create crazy equity gains, and a smarter way to shop for landlord insurance. All that (and much more) is coming up, so stick around!Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!In This Episode We Cover:Where to buy your next rental property and how to create cash flowSetting up your rental property LLCs and how many you’ll really needThe build, rent, refinance and repeat BRRRR strategy that could produce massive equityWhy bigger is better and the reason you should ALWAYS shop for rentals with more roomsHow to provide value to your mentor (even if you don’t have real estate experience)Landlord insurance and when a commercial policy trumps individual coverageBuilding systems for your real estate business and a practical way to start systemizing TODAYAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidTop 10 Real Estate Markets for Cash Flow in 2023The BiggerPockets Guide to Landlord InsuranceSign Up for David’s 2023 Scottsdale Goal Setting RetreatBook Mentioned in the Show:SOLD by David GreeneSKILL by David GreeneSCALE by David GreeneClick here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-744Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 23, 2023 • 1h 4min

743: Better Than BRRRR!? How to Make $200K+ on ONE Deal w/Janice Stitzer

The BRRRR method is one of the most celebrated, highly-effective real estate investing strategies the world has ever known. Never heard of it? BRRRR stands for “Buy, Rehab, Rent, Refinance, Repeat” and is a simple framework to allow any real estate investor, no matter their skill level, to get into real estate investing for no money at the end of the deal. This down payment recycling system allows you to use the same amount of cash to build a real estate portfolio that’ll expand to infinity. And for a while, the BRRRR method was yet to be bested—until now.Janice Stitzer may have cracked the code. As a house-hacking California native, Janice was pushed out of the golden state right before the last crash when housing prices were high, cash flow was low, and traffic was at a standstill. She and her husband decided to boost their quality of life by relocating to Colorado, where they started a construction company and a BRRRR-ing empire. Then in 2008, when lending screeched to a halt, her BRRRRs died down. But some years later, a new idea hatched—the BRRRR 2.0.Using this simple strategy, Janice got a brand new short-term rental that cash flows like crazy, all while gaining $200K in equity before her first guest checked in. This repeatable system can be used by almost anyone and doesn’t require much experience. With just five properties, this “BRRRR 2.0” investing style could make you a millionaire. But you won’t know how it works if you don’t tune in! So, stick around!In This Episode We Cover:The BRRRR 2.0 method and how it unlocks MASSIVE amounts of equity House hacking in expensive markets and the lowering your cost of living (even in LA)The BRRRR strategy explained and why it’s still one of the most profitable ways to investThe five things to look for when developing land or investing in new construction Why you NEED a great general contractor at your side ANY time you plan on building Short-term rental investing and why the cash flow beats consistent long-term rentals And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidRob's BiggerPockets ProfileRob's YouTubeRob's InstagramRob's TikTokRob's TwitterHow to Succeed in Real Estate Investing Using the BRRRR Method14 Questions to Ask Before You Hire a General Contractor4 Vital Points to Consider BEFORE Getting Into New ConstructionBook Mentioned in the Show:Buy, Rehab, Rent, Refinance, Repeat by David GreeneConnect with Janice:Janice's InstagramJanice's Website Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-743Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 21, 2023 • 1h 11min

742: How to Achieve Financial Freedom Through Real Estate in 4 Steps

Financial freedom is the goal we’re all after. Whether you want to replace your nine-to-five income, retire your spouse or family members, spend more time with your loved ones, or just have enough money to travel the world, reaching financial independence is truly the American dream. And the wisest, most stable way to find financial freedom? Real estate investing! For generations, rental property investing has been the foundation of many millionaires’ portfolios, and you can repeat their path with four simple steps.To give you the complete rundown on the four steps to financial freedom, we’ve got Dave Meyer, VP of Data and Analytics and host of On the Market, on the show. Dave embodies the financially-free life most people dream of. He lives abroad, chooses to work, and eats copious amounts of sandwiches every day. But what most people don’t see is the decade of hard work and dedication that Dave put in to get up to this point. Dave will explain exactly how to calculate the passive income you need to find financial freedom, where to start investing in real estate, how to analyze a real estate deal from scratch, and the one tool that EVERY investor can use to build a rental property portfolio faster.If you want to become a real estate pro in 2023, sign up for BiggerPockets Pro and use code “ANALYSIS20” for a special discount. In This Episode We CoverHow to achieve financial freedom through real estate in 2023 Calculating your FI number and setting the RIGHT type of real estate goalsPicking your real estate market and metrics you MUST use when researching Finding real estate deals and the LAPS funnel professional investors use to find perfect propertiesHow to analyze a real estate deal in minutes using the BiggerPockets rental property calculator Cash flow vs. appreciation and which you should pick when deciding on your investment strategy And So Much More!Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-742Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 19, 2023 • 49min

741: Seeing Greene: The Cash Flow "Golden Age” Could Be OVER

The golden age of cash flow real estate investing could be over as we know it. For the past decade and a half, landlords got used to buying standard homes that made a killing in cash flow. Combine that with exponentially appreciating home prices, and anyone who purchased a property in the past ten years looks like an investing oracle. But now, the tide is starting to turn, and rookie real estate investors are struggling to find any house in almost any market that can cash flow. So what happened, and why has the nation’s cash-flowing real estate suddenly disappeared? Welcome back to another Seeing Greene, where your “don’t just go for cash flow” host, David Greene, is back to drop some real estate knowledge for ANY level of investor. In this episode, we get into why it’s so challenging to find real estate deals that cash flow in 2023, when to invest in an appreciation vs. cash flow market, and whether or not to sell a property that isn’t profitable. Then, we switch gears and touch on how to vet a private lender you met online and whether or not an out-of-state rental rehab project is too risky for a brand-new real estate investor. Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!In This Episode We Cover:The “Golden Age” of cash flow and why it might finally be over in 2023How to pivot when you can’t find a “deal” in today’s housing marketCash flow vs. appreciation markets and which makes for a better long-term betWhat to do when your rental property isn’t profitable and how to know it’s worth sellingVetting private money lenders and why you should NEVER send money to oneOut-of-state renovations and rehabs and why rookie real estate investors should stay clear of themDelayed gratification and why it’s the true path to building wealth And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidCash Flow vs. AppreciationAbility to Delay Gratification Predicts Wealth, Health & SuccessBook Mentioned in the Show:Long-Distance Real Estate Investing by David GreeneClick here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-741Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 17, 2023 • 1h 9min

Bonus: SVB's Collapse: Is Real Estate at Risk in The Fallout?

SVB’s (Silicon Valley Bank) collapse has more to do with the housing market than you think. With bank runs becoming contagious, Americans in fear of economic turmoil, and a recession now closer on the horizon, assets like real estate could be affected in ways that most everyday Americans don’t realize. But, to understand what could happen to home prices and the US economy, we’ll need to explain the entire situation.Back on as expert guests, J Scott, multi-decade investor, and Scott Trench, CEO of BiggerPockets, are here to share their takes on the SVB’s meltdown. More importantly, they explain the events leading up to this bank collapse, how the pandemic created fuel for this future fire, and whether SVB’s collapse could cause a chain reaction that leads to more bank failures, harder economic times, and, surprisingly, higher mortgage rates. J and Scott debate whether or not more small banks are at risk, what could happen to HELOCs (home equity lines of credit), mortgages, and other financing options, and whether or not real estate will go down with the ship as our economic situation goes from bad to worse. And, if you’ve been saving up for your next investment property, stick around as J and Scott walk through how real estate investors should be using their money in troubling times like today.In This Episode We Cover:SVB’s collapse explained and how it could drag us into a deeper recession The effects on real estate and whether or not prices will drop as a resultMortgage rate predictions and the Fed’s shaky decision to raise or halt rates HELOCs (home equity lines of credit), mortgages, and other property financing options that could be in danger Whether or not we’re in a recession, and if we aren’t, when the recession could hitInvesting in real estate in 2023 and the moves you MUST make to protect your investment And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidWatch J’s First Interview with BiggerPocketsHow Did A $200B+ Bank Collapse In 48 Hours? Is Real Estate Going To Be Impacted?Books Mentioned in the Show:Recession-Proof Real Estate Investing, Flipping, and More by J ScottConnect with Scott & J:J's BiggerPockets ProfileJ's WebsiteScott's BiggerPockets ProfileScott's InstagramHear Scott on the BiggerPockets Money PodcastClick here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-bonus-svbInterested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Mar 16, 2023 • 58min

740: From $500 to 40 Rental Units After Going Broke in The Last Crash w/Eric Quinn

Eric Quinn turned $500 into over forty rental properties without rich relatives, a winning lottery ticket, or a magic genie. Like many investors after the 2008 crash, Eric was left flat broke, with an unbelievably high adjustable mortgage rate, hundreds of thousands in credit card debt, and just a few hundred dollars to his name. His “bed,” a pile of clothes in an empty apartment, was the one thing that could comfort him while digging himself out of the housing market hole he fell into.Now, Eric’s life looks a little different. With dozens of cash-flowing rental units, even Eric questions how he got here. His story includes selling snakes, dealing drugs, storage wars, terrible real estate deals, and bad debt, but at the end of it, thanks to making the perfect pivot, he came out on top. He made almost every real estate investing mistake in the book, from buying a property he knew nothing about to purchasing fifteen rental properties in one month (don’t do this) and taking risks that were never worth the reward.But Eric isn’t here to cry over spilled milk. Instead, he’s here to share EXACTLY how he made it out of a horrible situation and turned his life around to build wealth, have time freedom, and live without worrying. You might be feeling a bit like Eric did, and if you want to know the mistakes you should avoid and the moves you should make to get in a better position, tune into today’s episode!In This Episode We Cover:How to build wealth when starting from ZERO (or in SERIOUS credit card debt)Storage wars and making thousands flipping items found at auctionsThe HUGE cash flow of sober living facilities and why they beat regular rental propertiesBecoming a real estate agent and why you HAVE to go all in if you want to make more moneyPurchasing portfolios and the big mistake Eric made that cost him hundreds of thousandsProperty inspections and why you NEVER use a residential inspector on a commercial propertyAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchBPCON2023Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid’s YouTube ChannelWork with DavidHenry's BiggerPockets ProfileHenry's InstagramHow to Start a Sober Living Home22 Doors After “Starting from Negative”Property Inspections—Why They’re Vitally Important & How to Get the Most Out of YoursBook Mentioned in the Show:The Gap and The Gain by Dan SullivanWho Not How by Dan Sullivan Connect with Eric:Eric's InstagramEric's FacebookClick here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-740Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

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