BiggerPockets Real Estate Podcast

Cash flow—the two words every rookie real estate investor loves to hear. It’s always about cash flow. “If the property doesn’t bring in a healthy amount of pure profit every month, there’s no point in buying it!” This sentiment could cost you hundreds of thousands, if not millions over the lifetime of your real estate investing career. Don’t get us wrong, cash flow is important, but focusing on this metric alone may lead to your downfall.Chris Lopez hopped off the “buy only for cash flow” bandwagon long ago, and he’s much richer for doing so. Chris has become successful quickly in the real estate game, which is doubly impressive if you look at his past business history. He didn’t start in real estate sales, investing, or anything of that nature—he was more interested in building content for other businesses he was pursuing. After realizing that rental property investing was the way to go, Chris took a hard pivot, repurposing the same skills he used in his businesses to work in real estate.Now, he’s got eight units of his own, passive investments he doesn't need to worry about, and a successful real estate brokerage situated in the real estate mecca of Denver, Colorado. He’s become the foremost expert on Denver real estate not because he’s done thousands of deals, but because he knows the area well enough to teach those who don’t. Chris talks about business building, mentorship, and a much better calculation than cash flow in this episode.In This Episode We Cover:Building a real estate business that not only makes you active but passive incomeSEO, content marketing, and using “lead magnets” to drastically increase your deal flowThe wrong way to find a mentor and four simple steps to take to get the attention of top investorsThe world’s best business card and how it turns you from a novice into an expertHow to reevaluate your real estate portfolio to ensure it’s making the most money possibleAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's TwitterBiggerPockets Podcast 278BiggerPockets Podcast 558Watch Chris’ “House Hackerz” Series on YouTube9 Simple Steps to Finding the Best Real Estate MentorBooks Mentioned in the Show:Rich Dad Poor Dad by Robert KiyosakiBRRRR by David GreeneHow to Sell Your House for Top Dollar, Faster by Faby GonzalezGood to Great by Jim CollinsWho Not How by Dan SullivanConnect with Chris:Chris' websiteClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-662Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

The multifamily real estate market seemed almost impenetrable over the past two years. Unless you had millions in dry powder, ready to overpay for a huge apartment complex, there was a low chance you’d be making any money in the multifamily industry. This gave the big buyers an unfair advantage, while smaller investors struggled to put almost anything under contract. The tables have started to turn as interest rates rise, repricing becomes the norm, and multifamily buyers start fleeing the closing table.It’s now your time to shine, small-scale investors. As large buyers begin to fear a housing market crash, you can swoop up the spoils that could benefit you for years to come. But, before you do so, you’ll need to understand how exactly multifamily investing works. Back again on the show are Andrew Cushman and Matt Faircloth, two multifamily masters in their own rights.They’ve become real estate veterans after over a decade worth of investing experience. Now, they’re here to share some beginner steps and tips on how you can get into the world of multifamily real estate, regardless of your experience, knowledge, or bank account size. These steps are simplistic at a high level, but doing them correctly could help you beat out the competition for years to come. The only question is, are you ready to start?In This Episode We Cover:Why today’s “fearful” multifamily market is a great opportunity for new investors Evaluating your goals, skillset, and advantages before you step into the multifamily marketThe biggest mistakes new investors make when choosing a real estate marketHow to get deals sent directly to you and build up a network of top-tier brokersBuilding your real estate dream team that’ll allow you to scale with far less headacheRaising private capital and using other people’s money to grow your real estate empire And So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramBiggerPockets Podcast 571BiggerPockets Podcast 586BiggerPockets Podcast 634BiggerPockets Podcast 279Harvard Joint Center for Housing StudiesCrexiLoopnetBerkadiaCushman and WakefieldCBREMarcus and MilichapColliersBooks Mentioned in the Show:Long-Distance Real Estate Investing by David GreeneRaising Private Capital by Matt FairclothConnect with Matt & Andrew:Andrew's BiggerPockets ProfileMatt's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-661Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Hotel investments, big BRRRRs, and some mind-boggling cash flow are coming up on this Deal Deep Dive with our very own Rob Abasolo. For almost the entirety of Rob’s short-term rental investing career, he’s preached the good gospel about how small, mom-and-pop-owned vacation rentals are the way of the future. The secluded single-family rental, log cabin, or treehouse were some of Rob’s most impressive and profitable investments. But now, he’s taken a step in a whole different direction.Rob doubled his rental property portfolio almost overnight, going from fifteen units to thirty-five by purchasing a twenty-unit hotel/motel mix in beautiful Upstate New York. Without much experience running anything on that scale, Rob and his partners went to work trying to figure out how to turn this mess of a motel into a profitable, high-value vacation destination. He faced some serious hurdles, from canceling on guests to fixing a literal hole in the middle of the property, but found a way to make it work.Once the renovations are complete, Rob will walk away with an almost unbelievable amount of yearly cash flow, a seven-figure increase in equity, and a scalable system that will let him do these types of deals more often than he thought. Want to hear the nitty gritty so you can tackle something as lucrative as this? Sit back, relax, press play, and prepare for your next big property purchase! In This Episode We Cover:Transitioning from single-family rentals to multifamily vacation rental investments Hotel hurdles and what you should know before investing in a multi-unit short-term rentalBig BRRRRs and how to revive a rental property that has serious deferred maintenance How to find contractors when you’re in a low-population investing areaThe right way to transfer ownership after you’ve bought a not-so-straightforward propertySeller financing and getting deals with lower interest rates and far more flexible lendingAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's TwitterOur Interview with Heather Blankenship on RV Park InvestingAre There Opportunities in Hotel Investing in 2022?Struggling to Find a Stellar Contractor? Try These 9 Pro TipsThe Definitive Guide to Using Seller Financing to Buy Real EstateWatch Rob’s Video on This PropertyClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-660Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Nobody likes cold calling. Even just the thought of cold calling is enough to make seasoned real estate investors start to sweat. The waiting, debating, and constant rejection can get to anyone. So why not take the stress out of a tense situation? Why not make cold calling a game? Luke Rotvold decided to do just this. As a new wholesaler, he was used to spending hours on the phone every day. He got so bored that he started playing video games while negotiating with sellers. Surprisingly, it didn’t distract him—it made finding deals far easier.Luke severely leveled up his cold calling skills during those eight-hour long Madden marathons, and eventually started making enough money to build his own team. But Luke didn’t want to start something that felt like a drag to the workers, employers, and everyone else in between. Instead, Luke built a lifestyle-first business, where everyone wins (and loses) together, and coming to work feels like an escape, not a prison sentence.The results speak for themselves as Luke and his team have been able to crush massive wholesaling, flipping, and investing goals. Luke has made hundreds of thousands on flips, tens of thousands cold calling, and now watches as his cascading cash flow rolls in from his buy and hold investments. He breaks down his four tips to gamify your real estate business so you, and your team, can build wealth together.In This Episode We Cover:Why cold calling is such a difficult skill to master and how making it fun will get your more dealsCreating a company culture that outside employees will be envious ofThe four ways to gamify your real estate investing so you can enjoy getting more doneSharing the wins, and losses, with a team so everyone rises together Incentivizing not only your employees but yourself by building powerful goalsPartnering with those you work with so you can collectively build bigger portfolios And So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's Twitter5 Cold Calling Techniques That Really WorkNo. 1 Most Effective Way to Master the Art of Cold CallingWhich Company Culture Cultivates Competency?Books Mentioned in the Show:Top Five Regrets of the Dying by Bronnie WareThe Monk Who Sold His Ferrari by Robin SharmaConnect with Luke:Luke's InstagramLuke's YouTubeClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-659Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Mortgage rates went from being a nap-inducing topic to becoming one of the most talked about, researched, and debated subjects of 2022. After two years of rock-bottom interest rates, homebuyers and investors are getting a rude awakening with some of the biggest mortgage rate hikes in decades, used simply to slow down the economy’s rampant inflation. But where are we headed, and if interest rates go higher, is there a way that the everyday investor can still lock in a low payment?There’s no better person to ask than US Wholesale Mortgage’s Mat Ishbia. Mat has been running the US’s largest wholesale mortgage company for decades, so he knows the ins and outs of the industry better than anyone else. His company provides some of the lowest payments and fastest closings for residential and investor borrowers around the country. With all this background knowledge, where does Mat think that mortgage rates are headed by the end of 2022?Mat pulls out his wealth of knowledge to give investors just like you the best glimpse into the future on this month’s BiggerNews episode. Not only that, Mat walks through how every borrower can save a whopping $9,400 on their next mortgage by making one simple move, and why investors should work with a mortgage broker first, not a mortgage lender, when trying to find the best rates, service, and closing dates around.In This Episode We Cover:Why working with a mortgage broker gives borrowers better pricing and flexibilityInterest rate predictions as we enter into the second half of 2022Where to find the cheapest mortgage (regardless of interest rates)Housing market forecasts and whether or not the recession will hit homebuyingDSCR loans and other investor-only loans that won’t require a W2 How interest rates are calculated by mortgage lenders and what happens behind the scenesAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 AreaFind a Lender in Your AreaWhat’s the Difference Between a Mortgage Banker and a Mortgage Broker?Ask These 19 Questions to Find the Best Mortgage LenderHear About David’s Low Money Down BRRRR DealDavid's BiggerPockets ProfileDavid's InstagramDave's BiggerPockets ProfileDave's InstagramBook Mentioned in the Show:Buy, Rehab, Rent, Refinance, Repeat by David GreeneConnect with Mat:United Wholesale MortgageClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-658Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

The best way to build wealth isn’t always the most obvious. More people will take the passive road to wealth building, which is usually far slower, and much less efficient than the active path to wealth. The active investor takes time making calculated decisions that would scare almost every average investor. Flipping a house, renovating a rental, or buying a thirteen-unit apartment building may be a little too much for most people, but probably not too much for you.If you’re looking to fast-track your way to millionaire status, have the passive cash flow to float you in retirement, and live life on your schedule, then real estate investing is probably your chosen asset. The guests of today’s Seeing Greene episode prove this even with their quick questions. In this episode, David will answer questions on which investing strategy is best over the next ten years, whether to invest in stocks vs. real estate, how to start investing with as little as $5K and up to $100K, and how increasing your leverage can slingshot your net worth.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 1031 exchange explained and how to turn one property into many Single-family vs. multifamily real estate and which will make more in the next decadeReal estate coaching and why it might not be as good of a career as most people thinkStocks vs. real estate and which is better for the investor trying to build wealth nowPaying off debt vs. investing in real estate and how to know which move is right for your specific circumstanceHow to start investing with as little as five-thousand dollars (even with no experience!)And So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramAsk David Your Real Estate Investing QuestionBiggerPockets Real Estate Podcast 639 with Matt Argersinger from “The Motley Fool”Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-657Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

A “dead” real estate deal happens more than you’d think. Somewhere along the line, a buyer, seller, agent, or investor gives up. Either there’s not enough money, time, or patience left in the deal to get the property bought or sold. When real estate transactions drag out, you could get caught with months of holding time or thousands in inspection costs, only to have the deal drop out from under your feet. So, how do you revive a dead deal when everyone else has given up? Just ask Tyler and Trevor Sarter.Tyler and Trevor are based in Detroit, dealing with lots of international investors who want a piece of the cash-flowing pie. They work primarily as wholesalers, but also flip houses, and advise/consult their investors from abroad. They have a “do what you need to do to get the deal done” type mentality, which to no surprise has served them very well in their business. When other investors give up, Tyler and Trevor are waiting in the wings to get the property closed.As two former basketball players, they understand what working as a team means and how everyone needs to play their part in order to become champions. They’re not as profit-oriented as they are solution-oriented, making sure everything gets done no matter what comes their way. Because of this, they’ve built a successful real estate business, better yet as two brothers.In This Episode We Cover:How to find buyers, sellers, and deals as a wholesaler, flipper, and investorKeeping the deal “alive” and why over-communicating is necessary to start investingStaying organized and building a fine-tuned machine that will run even when things go wrongHow to prepare yourself as a rookie real estate investor for your first deal Using real estate to help friends and family deal with tough situations (while you also make a profit!)Finding the “MVP” of your team and the support roles that will boost that player up And So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's TwitterThe Newbie’s Guide to Wholesaling in 7 Simple StepsHow to Build a Highly Effective Real Estate TeamREIProPropStreamBooks Mentioned in the Show:Rich Dad Poor Dad by Robert KiyosakiMillionaire Real Estate Investor by Gary KellerThe Millionaire Fastlane by MJ DeMarcoMastery by Robert GreeneConnect with Tyler & Trevor:Tyler's BiggerPockets ProfileTrevor's BiggerPockets ProfileWork with Promise Land RealtyWork with Promise Land Realty on InstagramWork with Promise Land Realty on TwitterClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-656Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Private money lending has become a hot topic over the past few years. With rising equity and asset prices, more lenders have come out of the woodwork, and an equal amount of investors have sprouted up to match the need. But taking on private money isn’t a light decision, although most investors think of it that way. Doing a deal the wrong way could put your reputation in jeopardy and rack up an expensive bill you’ll need to pay back.Before you accept (or lend) private money, there are a few things you should know. But you don’t have to go through trial and error to figure them out! Back on part four of this private money series is Amy Mahjoory, investor and private money expert. Amy goes into the nitty-gritty of private money, from debating debt vs. equity to the risk of raising capital, protecting your investors, and the type of interest rates you can charge and returns you can expect.If you haven’t raised or lent private money before, we recommend watching the entirety of this four-part series, as it answers crucial questions that rookies can often overlook. We also follow up with some Q&As from the comment section about how to pay a private money lender back, why coaching is seen as scammy, and the three documents you’ll need to do a private money deal.In This Episode We Cover:Raising debt vs. equity for your real estate deal and which one comes with more riskBuilding rapport with lenders and never accepting “random” investments The most common private money red flags for both lenders and investorsThe three documents you’ll need to accept a private money loan Finding “silent partners” who will fund your deal without overriding your decisionsThe best investment opportunities of 2022 in multiple different nichesAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's TwitterAmy’s Private Money ResourcesBiggerPockets Podcast 636 with Amy Part 1BiggerPockets Podcast 637 with Amy Part 2BiggerPockets Podcast 654 with Amy Part 3BiggerPockets Podcast 649 with Alex HormoziRaising Private Money Live EventCoaching with Amy - PML Excel CourseAmy's E-bookBooks Mentioned in the Show:Lend to Live by Alexandria Breashears & Beth JohnsonRaising Private Capital by Matt FairclothPitch Anything by Oren KlaffConnect with Amy:Amy's WebsiteAmy's LinkedInAmy's Instagram: @amymahjooryClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-655Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Finding a private money lender is far less complicated than people think. Striking up a ten-minute conversation could be enough to find your next round of private money. At least that’s how it worked out for Josiah. Josiah is a small business owner, running a pool cleaning business while building up a small portfolio of rental properties. He sees dozens of new faces every day, and those new faces directly translate into new opportunities.After hearing our past episodes with Amy Mahjoory, Josiah took some of her tips and began pitching his deals to everyone he encountered. Now, he’s got some private money lenders lined up for his new multi-unit, four and a-half acre, short-term rental real estate deal. We told you—raising private money is a lot easier than most people think! But we’re not just talking to Josiah today. We also have Amy back on the show for part three of her private money masterclass.This time, Amy talks about building the “credibility pieces” that give private money lenders confidence in you, your team, and your deal. These range from presentations to deal reviews, calculators, and more. These private money tools took decades to build and Amy still uses them today! Interested in testing out some of Amy's private money-raising tools? Check out the BiggerPockets Real Estate Podcast show page for links!In This Episode We Cover:Josiah’s "pool guy to private money" story and how anyone can find private money in their areaThe FACT framework recap and using it to establish a system for finding private moneyBuilding rapport and creating credibility by showcasing yourself, your deals, and your teamThe sixteen “credibility pieces” Amy uses every day to engage more private money lendersHow to be prepared when private money lenders ask you specifics about a certain dealA brief lesson in how to escape a bear “attack” from Rob AbasoloAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's TwitterAmy’s Private Money ResourcesBiggerPockets Podcast 636 with Amy Part 1BiggerPockets Podcast 637 with Amy Part 2Coaching with Amy - PML Excel CourseAmy's E-bookBooks Mentioned in the Show:Long-Distance Real Estate Investing by David GreeneLend to Live by Alexandria Breashears & Beth JohnsonRaising Private Capital by Matt FairclothConnect with Amy & Josiah:Amy's WebsiteAmy's LinkedInAmy's Instagram: @amymahjooryJosiah's Instagram: @josiahheinClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-654Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

You’ve probably seen Flip or Flop before. Even if you’re not a home flipper, it’s hard to not get sucked into the glitz and glamor of watching Tarek El Moussa and his team rip out old fixtures from the 1950s and replace them with brand new, beautifully designed upgrades. Tarek is one of the most recognized home flippers in the world and has inspired thousands of others to start building wealth through real estate. He’s an inspiration to all of us, but how did he get to such a peak point?Tarek wasn’t a great flipper right out the gate. He electrocuted and burned himself on his first deal, but that wasn’t enough to deter him. Before the great recession, Tarek was living large, making forty-thousand dollars a month in his early twenties. But when the crash came, he had to sell everything and start from scratch. After attending a real estate seminar he caught the flipping bug and realized he needed to invest in real estate full-time.After a successful first flip, he pitched the idea of Flip or Flop to different television networks, with HGTV finally giving him a chance. He describes the first season of Flip or Flop as working eighteen-hour days, constantly stressing, and forcing himself to build a business, not just a side-hustle. This allowed him to delegate by buying more flips and building wealth faster. Funnily enough, his main piece of advice for flippers isn’t to try and make more money—it’s to start losing it instead.In This Episode We Cover:Tarek’s five house flipping tips that anyone can use to successfully start flippingThe single biggest mistake that most flippers (and investors) makeFlipping while filming and how to pitch a TV show as a complete noviceWhy finding real estate deals is the most important thing a house flipper can doKnowing your market and the key metrics to look for when investigating an areaDesigning a renovation that will beat out the comps in your neighborhood And So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen 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 InstagramRob's BiggerPockets ProfileRob's YoutubeRob's InstagramRob's TikTokRob's TwitterEnroll In the BiggerPockets Bootcamps and Get 10% Off Using Code “BOOTCAMP10”Do You Make These 7 Deadly House Flipping Mistakes?Books Mentioned in the Show:Long-Distance Real Estate Investing by David GreeneThe Book on Flipping Houses by J ScottConnect with Tarek:Invest with Tarek and His TeamTarek's Instagram: @therealtarekelmoussaClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-653Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices