BiggerPockets Real Estate Podcast

Last week, Brandon and David sat down to talk about the “Core 4” of any successful real estate team. Now they’re here to talk about the “Divided 5-ed”, a term they coined to describe the five team members you’ll need to scale your portfolio to new heights. Both Brandon and David agree that a sizable, growing real estate portfolio needs to be thought of more as a business than just a group of rental properties.Maybe you’re looking to scale into large multifamily properties, commercial properties, self-storage units, or mobile home parks. Or maybe you’re just going to buy 1,000 single-family homes. Whatever your strategy, you will need a lead generator, underwriter, money raiser, asset manager, and financer/bookkeeper on your team. You may start out doing many of these roles when you buy your first few properties, but as you scale, you’ll need to fill these roles with more fitting individuals.Maybe you want to get more experience before you start buying properties. Great! Join someone else’s team and think about how you can be the BEST in the role that you’ve been appointed to.In This Episode We Cover:The five roles that will make scaling possible (and easy) for your future acquisitionsHow to choose the asset class that fires you upUsing DISC scoring to decide who would be best for each roleHow Brandon built his team at Open Door Capital using this layoutFinding a team where you learn, grow, and thriveAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelBiggerPockets Pro MembershipOpen Door CapitalBiggerPockets Podcast 481: Build an Unstoppable Real Estate Portfolio with the “Core 4”BiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan PinedaBiggerPockets Podcast 444: 150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-JohnsonHow to Use the DISC Profile to Communicate Effectively in BusinessBiggerPockets EventsBiggerPockets Facebook GroupBiggerPockets StoreBrandon's InstagramDavid's InstagramClick here to check the full show notes: https://www.biggerpockets.com/show483 Learn more about your ad choices. Visit megaphone.fm/adchoices

Everybody is busy. We have jobs, kids, businesses, and responsibilities to take care of. Why go out of your way and risk your money and time to invest in real estate? Mike Webb, firefighter, investor, flipper, and wholesaler argues the opposite. Mike says that it’s far riskier to simply rely on your job for the entirety of your income.Mike began his investing career by investing in a side-by-side duplex, rehabbing it, and failing to complete a successful BRRRR. After seeing the cash flow and learning from his mistakes, Mike saw an investment strategy that could carry him to financial freedom. He is still working as a full-time firefighter, but is building his portfolio and completing 20-30 flips per year while he does so. This gives Mike the ultimate freedom to do whatever is best for him and his family, even though he loves his job.In a world where it seems cool for everyone to quit their job, Mike reassures those who like their work that it’s worth staying, especially to keep that investment money flowing. He also walks through his partnerships, how he hires his team members, and what you can do to systematize your business so you can outsource your work as you take on more strategic roles! In This Episode We Cover:Why you don’t have to choose between a career and investing in real estateLearning from your first deal and using your newfound knowledge to expandWhy the 1% rule and 2% rule shouldn’t be the ONLY metric you consider during deal analysisUsing the BiggerPockets Forums to meet partners, mentors, and other real estate professionalsThe “OODA Loop” and why it’s a great tool for organizationsStarting a meetup and being in the know with local investorsWhy working AND investing decreases your overall financial riskAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelBiggerPockets Podcast 469: Why Do Investors Lie to Themselves? +More Audience Q&A (Pt. 2) (Mike's question)BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David GreeneOpen Door CapitalVoxerSlackLoomWizeHireGoogle DocsBiggerPockets EventsBiggerPockets Facebook GroupBiggerPockets StoreBrandon's InstagramDavid's InstagramCheck the full show notes here: https://biggerpockets.com/show482 Learn more about your ad choices. Visit megaphone.fm/adchoices

David Greene is great at coining new terms, just like his co-host Brandon Turner. Today we talk about the “Core 4” of any successful real estate investor's team. This includes the agent/deal finder, the property manager, the lender, and the contractor. Without these Core 4, you’ll have trouble building a real estate empire, especially if you’re doing so long distance. The good news? Even if you’re a brand new investor, you can start building out these relationships today!With the help of BiggerPockets, you can find agents, lenders, property managers, and contractors. You can also head over to the forums and chat with other investors in your area, get their take on who’s the best in the business, and use their referrals to grow your team.Are you an agent, lender, contractor, or property manager? Great! Brandon and David drop some tips on how you can attract the best clientele that will help you grow your businesses as well. The most important part of any of this is having open, honest, consistent communication with your team members and making sure nothing is falling through the cracks so everyone knows exactly what they should be doing.In This Episode We Cover:What the “Core 4” is and why it’s crucial for all real estate investorsHow to find an agent using BiggerPockets’ agent directoryWhat agents can do to find clients that will close many times overWhy you should never “just go for the rate” when comparing lendersWhy a great property manager should be out of sight and out of mindChoosing a contractor who ISN’T just an “order taker”And So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelBiggerPockets Pro MembershipReal Estate Investing CalculatorsBeardy BrandonBiggerPockets Podcast 425: Focusing On Your $10,000/Hour Tasks (And How to Outsource the Rest!) with Benjamin HardyBiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan SullivanBiggerPockets Podcast 475: 50x Your Revenue By Focusing on ROR (Return on Relationships) with John Ruhlinhttps://www.biggerpockets.com/show481 Learn more about your ad choices. Visit megaphone.fm/adchoices

At one point, Dan Brault had a construction company working on custom builds in upstate New York. He had left behind a successful sales career to do it and although he was highly stressed, he felt all of his hard work was going to be rewarded sometime soon. That is, until, he had a huge project that went over budget, over the timeline, and forced him into $400,000 worth of debt.Dan closed his company, went back to sales and started to think about what he did wrong. Was it the leadership? Was it the system? Was it just bad luck? Dan went to work, doing whatever he could to level up his business skills so he could get back into real estate full-time and do so in a way that allowed him to scale.Now, after going through many of life’s lessons, Dan is doing phenomenally, with him and his team closing on 12+ wholesale deals a month, getting him close to $200k in monthly revenue. He credits his success to his systems, his team, and the way he pivoted his leadership that allowed the entire company to work as one well-oiled machine.In This Episode We Cover:The danger of buying cheap homes in C or D-class neighborhoodsOn-market vs. off-market properties and which investors should go for off-market dealsDan’s favorite off-market strategies and the way he gets most of his leadsFinding the “price behind the problem” so you can close on more dealsForming partnerships with real estate brokerages as a wholesalerThe high costs of running a wholesaling teamWhat sets apart gurus and gimmicks from real, honest coachesAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelTony RobbinsBiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe AsamoahFacebook MarketplaceDarrin Damme of Bullseye BrandingLeft Main REIGoBundanceJD Mindset AcademyBeardy BrandonCheck the full show notes here: http://biggerpockets.com/show480 Learn more about your ad choices. Visit megaphone.fm/adchoices

We all reach a point of complacency. We tell ourselves that we’ve done enough, it’s too hard to go further, or we don’t have enough experience, money, or time to accomplish the goals that seem impossible. Brandon Turner, host of the BiggerPockets podcast, was feeling this way too, sitting on a decade worth of real estate, with enough passive income to live his life how he saw fit. It wasn’t until Brandon started surrounding himself with people who did much more than him that he realized he wasn’t hitting his true potential.Now, leading the real estate syndication Open Door Capital, Brandon has more than 10x-ed his rental portfolio, built a life he loves in Maui, and worked with some of his heroes. This wasn’t by accident, it also wasn’t dropped into his lap. Brandon spent serious time thinking about his “vivid vision” of the future, what he wanted out of life, and who would help him get there.He’s had ups and downs, with some of his favorite employees leaving, partnerships falling through, and deals being lost. All of these proved to be valuable lessons in his ongoing work to create a mobile home empire and become the best of the best at what he, and his team, does.In This Episode We Cover:The 10 lessons Brandon learned starting Open Door CapitalWhy it’s crucial to have a goal for your life and shoot towards itUnderstanding when you’ve become complacent and finding inspirationGiving up more to work with partners who will bring you far, far greater returnsWorking for your employees and doing anything you can for their successHow coaching allowed Brandon to open up his mind to huge possibilitiesUsing a “Hunger Games” style recruiting technique when finding new talentAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelBiggerPockets MembershipBiggerPockets Book StoreOpen Door CapitalBiggerPockets Podcast 403: Developing a Millionaire’s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason DreesBiggerPockets Podcast 369: Escaping the Day-to-Day Grind to Work on Your Business with Jefferson LillyBiggerPockets Podcast 246: Surviving the Coming Crash, Earning 20% Returns, and Buying Mobile Home Parks with Kevin BuppBiggerPockets Podcast 447: Create Your Dream Life in 3-5 Years Using Vivid Visions with Cameron HeroldBiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian MurrayBiggerPockets Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian MurrayPre-order Multifamily Millionaire by Brandon Turner and Brian Murrayhttps://www.biggerpockets.com/show479 Learn more about your ad choices. Visit megaphone.fm/adchoices

What happens when you’re pinned to the floor in the middle of a fight? Someone has you in a locked position and you can’t move. You’re sweating, you’re angry, and you start feeling the will to fight flow through your whole body. Although we’re talking about Brazilian Jiu-Jitsu with the legendary trainer and black belt, Ryron Gracie, we could easily be talking about real estate.So many new real estate investors come into this space being scared of discomfort, wanting to be hand-held, and feeling like there is no way to hit their investing goals. That is until they’re put in the proper position, scenario, or matched up with a great teacher. These are the exact lessons that Ryron shares with us today.As a lifelong Jiu-Jitsu practitioner, and now a teacher himself, Ryron knows that the same lessons applied on the mat should be applied in everyday life. Lessons like: be comfortable with discomfort, never get pulled into anyone else’s fight, and change the game to fit your needs. This not only makes Ryron a financially successful individual, but a master in martial arts. Even if you’ve never done martial arts, had any interest in Brazilian Jiu-Jitsu, or started real estate investing, this episode will help you change your mindset to thrive in situations where you feel lost and helpless, which is something all of us need throughout our lives.In This Episode We Cover“Emotional Jiu-Jitsu” and how to find comfort in difficult conversationsTaking the fight to the ground and changing the gameThe crossovers between martial arts and building wealth through real estatePutting your ego and insecurity to the side and doing what’s truly best for youRealizing when you’re coming from a place of lackAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelDavid's InstagramGracie UniversityCheck the full show notes here: http://biggerpockets.com/show477 Learn more about your ad choices. Visit megaphone.fm/adchoices

Tony J Robinson, host of the Real Estate Rookie Podcast, shares his journey from wholesaling to building a thriving short-term rental portfolio. He discusses the benefits of reliable partnerships and how to avoid toxic collaborations that can hinder growth. Listeners will learn essential strategies for entering the Airbnb market, including market research and setting competitive pricing. With insights on turning long-term investments into successful short-term rentals, Tony emphasizes having a cash-flowing mindset and mastering foundational skills for continued success.

You wouldn’t think that a farm boy from Ohio would be spending hundreds of thousands if not millions on expensive clothing, high-priced whiskey, and expensive knife sets, would you? Only, he’s not buying these things for himself, he’s buying them for his clients, many of whom are some of the biggest names in business and entertainment. What does John Ruhlin from Giftology see in gift-giving that we don’t?First, John realized that giving regular corporate gifts, like a stress ball or a free pen, wouldn’t cut it when trying to build long-term relationships. He even went as far as to get courtside NBA tickets paired with a $500 steakhouse dinner to get Cameron Herold (a past guest of ours) on his team, only to find that Cameron was severely disappointed. So he started turning up the personalization of his gifts.Now, John sends out personally engraved knife sets, world-class food and wine pairings hosted by the best sommelier in the country, and video messages sent in physical boxes (seriously). He’s discovered the art and the science behind gift-giving and wants everyone to know what is, and isn’t an appropriate gift. As he puts it, you need to focus on your ROR (return on relationships) more than your ROI.In This Episode We Cover: The gifts you SHOULD NOT give to those you want to impress Focusing on ROR (return on relationships) as opposed to ROI Have a “relationship plan” in place for clients, employees, and partners Using personalized gifts to stick out from the competition Taking a warm lead and turning it into a burning fire  The best gifts to give based on the occasion, timing, and relationship And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Youtube Channel Brandon's BiggerPockets Profile Brandon's Instagram David's BiggerPockets Profile David's Instagram BiggerPockets Podcast 467: #1 NYT Bestselling Author Adam Grant on the Need to “Think Again” BiggerPockets Podcast 451: Stop Chasing the “False Summit”: Have Better Relationships and Results with Michael Hyatt GoBundance Open Door Capital Giftology Website Click here to check the full show notes: https://www.biggerpockets.com/show475 Learn more about your ad choices. Visit megaphone.fm/adchoices

Letting go of something successful isn’t easy, but what if you know it’s costing you your dreams? Today we talk to mother, real estate agent, and massive multifamily investor, Pili Yarusi, about doing what it takes to stay focused, engaged, and on top of your life.Pili moved out to New York from Hawaii with dreams of becoming a star in theater but ended up working as a bartender. Lucky for her, bartending is where she met her husband and future business partner. Together, they started flipping houses, which taught her not only to systematize investments but also to use her creativity in an efficient way. She and her husband later expanded into wholesaling.Pili knew something was missing and she wanted to focus more on growing a multifamily portfolio. With help from some mentors, she realized that the main thing holding her back was her current (and very successful) flipping and wholesaling business. She closed both businesses, got herself systematized, and went head first into multifamily.Now this homeschool teacher/mom is sitting on $75,000,000 in real estate, totaling in at 850 units. No small number by ANY means! She gives some incredible advice on what new investors need to do before they can reach their goals of owning big portfolios.In This Episode We Cover: Limiting your creativity (in a good way) when doing flips and rehabs The 4-3-2-1 principle and waking up with A.L.O.H.A Identifying as the person you want to become, and letting go of less useful identities The right (and the wrong) way to train employees and build a team 506b vs 506c syndications, plus what to know if you want to start one And SO much more! Links from the Show BiggerPockets Forums Clubhouse BiggerPockets Podcast 325: From Major Business Failure to Buying 20 Houses a Month With Aaron Amuchastegui Real Estate Rockstars Podcast InvestNext  Check the full show notes here: https://www.biggerpockets.com/show474 Learn more about your ad choices. Visit megaphone.fm/adchoices

There is only one man on the podcast today that has a beard, and no, it’s not the guitar-playing, surfing, 7-foot tall one. David Greene is “seeing Greene” in this episode and gives new and experienced investors advice and answers on their questions. We go through a range of subjects from real estate notes, quitting a W2, scaling, and whether or not to start a property management business.With David’s experience as a W2 police officer, agent, broker, investor, and lender, he can give all kinds of great answers related to real estate. So whether you’re a newbie trying to get your first deal done or an experienced landlordclosing on a new house every week, there is probably some question David answers that can help you out!All of these questions have been asked by BiggerPockets listeners either via video or from Facebook. If you weren’t able to get a question answered by David this time, you can submit a question at this link.In This Episode We Cover: Purchasing a property from a wholesaler How to place properties under an LLC once purchased Is land worth pursuing or should you stick to properties? When is the right time to quit your W2 and pursue real estate Can you 1031-exchange a flip into a buy and hold rental? And So Much More! Links from the Show Brandon's Instagram David's Instagram BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Youtube Channel BiggerPockets Podcast 457: How Thinking 5 Moves Ahead Can Make You Millions with Patrick Bet-David 6 Mindset Shifts to Make Today to Become Successful Tomorrow BiggerPockets Business Podcast 89: How David Greene Plans to Sell $150 Million of Real Estate in 2021 Rookie Podcast 81: David Greene on Where Rookies Go Wrong When Looking for an Agent Submit Your Questions to David Greene Click here to check the full show notes: https://www.biggerpockets.com/show473 Learn more about your ad choices. Visit megaphone.fm/adchoices