BiggerPockets Real Estate Podcast

Start slow—or take off like a rocket? When it comes to real estate investing, the choice isn’t the same for all. This week, our guest Paul Thompson made a clear choice: Rocket! After realizing the fragile nature of his six-figure salary, he set out to replace his salary with passive income—as quickly as possible. This led him to average a new home purchase every month for the first year and a half, and soon he had true financial freedom and quit his 9–5. This show is packed full of actionable tips, including some never-before-heard-on-this-podcast strategies for finding deals with the use of virtual assistants, Craigslist, and cold calling! This is one episode for which you’ll need to take some notes, so grab a notebook and let’s get into it!In This Episode We Cover: Paul’s backstory prior to real estate investing His first deal doing the BRRRR method What is escape velocity? P.I.L.E. (Passive Income greater than your Living Expenses) How he manages his properties Finding private money lenders through BiggerPockets His system in making offers Things he looks for in each deal How to negotiate for seller financing Subject-to explained Why does he L.I.E. every day? His interesting thoughts about money How he balances his time The third-party catalyst And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar David Greene’s Twitter Profile David Greene’s Instagram Brandon’s Twitter Profile Brandon’s Instagram BiggerPockets Twitter Profile BiggerPockets Instagram BiggerPockets New Member Introduction Forums Upwork Screen-O-Matic Zillow Craigslist CallRail Podio Zapier Google Duplex GoBundance How I Analyzed a Deal in 5 Minutes (& Bought it Before Anyone Else Could) Uber Turo BiggerPockets Podcast Guest Form Books Mentioned in this Show Long-Distance Real Estate Investing by David Greene The Book on Investing with No and Low Money Down by Brandon Turner Building Wealth One House at a Time by John Schaub The Richest Man in Babylon by George S. Clason The Pumpkin Plan by Mike Michalowicz Profit First by Mike Michalowicz The Big Leap by Gay Hendricks Fire Round Questions How detailed of a plan for financing do I need before I start actively hunting for deals? What niche/strategy will yield the most results, direct mail for subject to and owner financing or finding partners/private money? Tweetable Topics: “How many deals do you have is the wrong question to ask. It’s how much cashflow are you generating?” (Tweet This!) “Never assume that what is important to you is important to the other party.” (Tweet This!) “There is plenty of money for the things you really want.” (Tweet This!) “You don’t want cash, you want what cash can give you.” (Tweet This!) Connect with Paul Paul’s BiggerPockets Profile Paul’s Website Learn more about your ad choices. Visit megaphone.fm/adchoices

When does one plus one equal WAY more than two? Real estate partnerships! On this episode of The BiggerPockets Podcast, we sit down with two real estate investors (Jay Helms and Tim Kelly) who were attempting to build their business alone, but found they could do far more together. In this fun and fast-paced interview, you’ll learn what makes their partnership so successful, as well as how the team analyzes a market (including several can’t-miss online research websites), and how they took down a 42-unit apartment complex using some pretty fantastic creative financing. Whether you plan to build your empire alone or alongside a partner, this episode is sure to give you a variety of tips and strategies to help your business take off.In This Episode We Cover: Tim’s background story and how he got into real estate Using 203k loans to buy deals Jay’s background and his live-in flip Why they think they make up a good team How they closed on an apartment complex 6-months after partnering up How they found the deal and details about it The importance of a clear and concise plan How they financed the deal Tips for finding the right partners How to create a “sample deal package” What to look for in a partner Why they participate in the BiggerPockets Forums How to network effectively What a good deal is for them And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BiggerPockets Podcast 066: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank BiggerPockets Events BiggerPockets Marketplace Best Places Bureau of Labor Statistics City Data Yelp Books Mentioned in this Show How to Win Friends & Influence People by Dale Carnegie Rich Dad Poor Dad by Robert Kiyosaki The ABCs of Real Estate Investing by Ken McElroy Sovereignty: The Battle for the Hearts and Minds of Men by Ryan Michler Wild at Heart Field Manual by John Eldredge Tax-Free Wealth by Tom Wheelwright Fire Round Questions Sellers Do Not Want to Give Due Diligence. What Do I do? If u had no ties 2 any city,Where would u move 2 start investing? Tweetable Topics: “Is there a better way to first get involved in real estate than to leverage the power of the bank?” (Tweet This!) “Once you figure out your why, then you will be able to set goals to support that why.” (Tweet This!) “It’s more important to pick something than to get stuck choosing the right thing.” (Tweet This!) “I want to live where I want to live and invest where it makes sense.” (Tweet This!) Connect with Tim Tim’s BiggerPockets Profile Tim’s Facebook Profile Tim’s LinkedIn Profile Tim’s Instagram Profile Tim’s Website Connect with Jay Jay’s BiggerPockets Profile Jay’s Facebook Group Jay’s Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Your first deal might just be your most important — because it leads to all the rest. That’s why it’s so imperative to study others who have just recently purchased their first deal! So today we’re excited to bring you a mashup episode, in which we sit down with three different investors to hear how they bought their first few investment properties. You’ll hear how Bill went from ex-con to house hacker, how Jacob used some highly creative methods to find his first deals, and how David is building an empire from across the ocean. Don’t miss a moment of this powerful episode!In This Episode We Cover:Bill Being imprisoned for 10 years What changed in prison for Bill Starting your business on the side How he ended up investing in real estate What went in his head with his first investment property The beauty of keeping expenses low Having tiny little steps Jacob Jake’s investing path How he got into real estate Buying a $25,000 house with a $140 monthly mortgage Going for the smaller banks Investing at a very young age Joining local Facebook pages His criteria for finding properties David David’s story and how he got to Hawaii BRRR, OD, and HELOC Paying close to 5 percent on a 10-unit apartment Having a great team you can trust How he built a meet up in Hawaii And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinars BiggerPockets Podcast 277: Building a Six-Figure Family Real Estate Business with Ashley Wilson BiggerPockets Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod BiggerPockets Events Dad Powered Brandon’s Instagram Profile David’s Instagram Profile Books Mentioned in this Show The 21 Irrefutable Laws of Leadership by John C. Maxwell & Steven R. Covey Awaken the Giant Within by Anthony Robbins Rich Dad Poor Dad by Robert Kiyosaki Long-Distance Real Estate Investing by David Greene The Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets The Advanced Guide to Real Estate Investing by Ken McElroy How to Win Friends & Influence People by Dale Carnegie The Miracle Morning by Hal Elrod The 80/20 Principle by Richard Koch Tweetable Topics: “My success story didn’t started when I got out (from prison), it started right away in the very beginning.” (Tweet This!) “Quit the things that are holding you back and have you put in the exact location you are.” (Tweet This!) “Find a market that makes sense.” (Tweet This!) “I want to buy something that is certainly desirable.” (Tweet This!) “Highest risk is vacancy.” (Tweet This!) “Become a person worth being around.” (Tweet This!) “If they’ll like you, they’ll join.” (Tweet This!) Connect with BillBill’s BlogConnect with Jacob Jacob’s Podcast Jacob’s Website Connect with David David’s Blog David’s Instagram Profile David’s Facebook Page David’s Youtube Channel Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s show, we sit with Mark Hentemann, a writer and producer for TV’s Family Guy who also invests in Los Angeles real estate! Mark shares his incredible success stories, which include his trick for finding overlooked properties, house hacking for massive profits, adding value and utilizing the 1031 exchange—plus more! Mark’s strategy for filtering data will save you tons of time and help you find the deals others are missing. Listen and learn how Mark got into real estate investing through house hacking—and how that led to an $800,000 profit on his first deal! This episode is absolutely packed with motivating advice and fantastic ideas for getting started. Bonus? It will make you think and make you laugh!In This Episode We Cover: Mark’s day job as a writer for Family Guy The first deal that gave him buyer’s remorse Having a friend as a first tenant Selling that first deal for $1.27 million The $250 dishwasher story What’s a 1031 exchange? Buying with solid fundamentals Finding low-cost-per-square-foot buildings Having the perfect open house Finding deals in today’s difficult market The river mentality in regards to moving forward The people on his team Finding people in the BiggerPockets community His metric called “leverage cost per square foot” And SO much more! Links from the Show BiggerPockets Forums America Arias Instagram Profile BiggerPockets Events BiggerPockets Webinar Family Guy 1031 Exchange Guide BiggerPockets Podcast 274: “Because of These 3 Simple Rules, I’ve Bought Over 600 Units and Never Lost Money” with Paul Morris Marcus & Millichap Loopnet Linkedin ZipRecruiter Family Guy – everyone throws up (video) Family Guy – Wheres my Money Stewie & Brian (video) Books Mentioned in this Show So Good They Can’t Ignore You by Cal Newport The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges Sapiens: A Brief History of Humankind by Yuval Noah Harari Fire Round Questions What was your worst home renovation fail!?! How are some unique ways you earn/save extra money? Are anonymity and self management possible? What’s your second favorite investment after real estate? Tweetable Topics: “It’s really valuable to be able to sit back and wait for the deal to come to you.” (Tweet This!) “Everyone’s got an opinion on why things are a bad deal.” (Tweet This!) “Leverage is the one common denominator.” (Tweet This!) “When you make the money, handle it well, be careful, don’t waste it, invest it.” (Tweet This!) Connect with Mark Mark’s BiggerPockets Profile Mark’s Company Website Email Mark Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you ready to jump into real estate investing, but don’t believe you can find deals in today’s hot market? In this episode, we sit down with multifamily expert Andrew Cushman, who’s actively doing deals in today’s market — and turning big profits. In this show, Andrew explains how he’s finding deals, what metrics he uses to qualify them, where he’s buying today, and what his secret tricks are for finding the “overlooked opportunities” most investors miss — including how he found an amazing deal in the “trash can” for bad deals!You’ll love hearing how Andrew creates millions of dollars in equity and builds relationships with deal-finders so that they bring him the best deals first. Be sure to download this episode and share it with your friends, so you, too, can master the secrets that the pros are using to snag killer deals!In This Episode We Cover: Andrew’s backstory How to make deals rather than find them The ABCD neighborhoods — what are they? What specific properties Andrew is looking for His effective screening criteria for finding properties An in-depth story on one deal Net operating income (NOI) Understanding how properties are valued Challenges Andrew faced over the years Finding great contractors Andrew’s many rental property units And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Money Podcast BiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman City Data Rich Blocks Poor Blocks Trulia USA.com Loopnet BiggerPockets Podcast 052: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn Gobundance Books Mentioned in this Show The ABCs of Real Estate Investing by Ken McElroy David Greene’s Long Distance Real Estate Investing Emerging Real Estate Markets by David Lindahl How to Win Friends & Influence People by Fire Round Questions Help! 1 million dollars to invest! What do i do!? 30 yr or 15 yr mortgage? Go Solo OR with a big Multifamily investor Tweetable Topics: “The person who wants it the most, loses.” (Tweet This!) “You can completely destroy an investment with the wrong people managing it.” (Tweet This!) “Don’t wait to buy Real estate. Instead, buy real estate and wait.” (Tweet This!) “The best way to spot a great deal is to look at 99 bad ones.” (Tweet This!) Connect with Andrew Andrew’s BiggerPockets Profile Andrew’s Linkedin Profile Andrew’s Company Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Real estate is sexy… most of the time. But is that really what makes it profitable? On today’s show, we sit down with Charles Roberts, an investor and agent from the Denver market. He explains that the secret to success is far more boring than we like to admit. In this episode, we explore Charles’s story and the lessons he’s learned over his 20+ year career, including how his first deal failed miserably, how he helped another investor retire through rentals in just five years, and his strong belief that the deal isn’t as important as most investors think — plus so much more! Charles is incredibly wise, and he has years of experience — so this is one episode that you’ll come back to time and time again.In This Episode We Cover: How Charles got started by buying his first duplex A 15-year loan vs. a 30-year loan How he managed to go full time as a fix-and-flipper What went wrong — despite having 29 properties Should newbies get into flipping? Figuring out what works and what doesn’t What Charles looks for in a partner The benefits of helping someone else achieve success in real estate Scaling, and what he thinks about it Why lending is important in real estate Work harder not smarter Where is he finding deals And SO much more! Links from the Show BiggerPockets Forums Share your story to the No Money Book BiggerPockets Store Dave Ramsey’s Calculator Billions TV Series BiggerPockets Podcast 274: “Because of These 3 Simple Rules, I’ve Bought Over 600 Units and Never Lost Money” with Paul Morris Books Mentioned in this Show Rich Dad Poor Dad by Robert Kiyosaki The Book on Investing with Low or No Money Down by Brandon Turner The Book on Flipping Houses by J. Scott Lifeonaire by Steve Cook & Shaun McCloskey Set for Life by Scott Trench The Millionaire Next Door by Thomas Stanley & William Danko Born to Run by Christopher McDougall Tweetable Topics: “We think that everybody else is stupid but it turns out we’re the ones stupid.” (Tweet This!) “You don’t know anything until you do it.” (Tweet This!) “You want to work with people you like.” (Tweet This!) “The harder you work the smarter you end up.” (Tweet This!) Connect with Charles Charles’ BiggerPockets Profile Charles’ Company Website Email Charles Learn more about your ad choices. Visit megaphone.fm/adchoices

Many families can’t even enjoy a holiday meal together — but today’s guest has built a real estate empire with hers! Today we sit down with Ashley Wilson, a house flipper who got started investing in real estate while living overseas in Europe. Today, Ashley shares how she has been able to generate six-figures in profit — almost from the beginning — using a highly systematic approach to building wealth. She also drops some huge knowledge bombs with advice on finding and funding deals — and even some never-before-heard advice on knowing what features to put into your next rehab!In This Episode We Cover: How Ashley and her family got involved in real estate House hacking their way in the beginning The dynamics of the family business Ashley’s specialty How they split the profit What it’s like working with a family Finding what is “light work” for you Long-distance investing and the core people on your team How she finds deals Close-to-close houses through “stacking” How she designs homes How they finance their deals Her plans for the future And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BiggerPockets Calculators Brandon’s Instagram Profile BiggerPockets Podcast 119: From Pro Athlete to Pro Real Estate Entrepreneur with Graham Mink BiggerPockets Youtube Channel Books Mentioned in this Show Rich Dad Poor Dad by Robert Kiyosaki Drive by Daniel Pink E-Myth by Michael Gerber Long Distance Real Estate Investing by David Greene Freakonomics by Steven Levitt & Stephen Dubner Fire Round Questions What are the best ways you’ve found to estimate rehab costs? The rehab calculator on BP is fine but, how do you estimate the $$$ to put into each category? Should I buy a Home Warranty for my flip or not? Should I hire an inspector or just go with an experienced project manager/contractor on a walkthrough? Buyer coming back after months demand for repair cost Tweetable Topics: “Every house already has a limited market.” (Tweet This!) “You really have to love what you do.” (Tweet This!) Connect with Ashley Ashley’s BiggerPockets Profile Ashley’s Company Website Facebook Page Instagram Page Learn more about your ad choices. Visit megaphone.fm/adchoices

Why work at a lame job until you’re too old to enjoy the life you’ve been given? If you are looking to get out of the rat race earlier, this is one episode you can’t afford to miss. Today on The BiggerPockets Podcast, we sit down with Bryce Stewart, a former school teacher who was able to quit his job at age 35 through the smart purchases of small multifamily properties. Bryce shares his powerful story on how he was able to build a portfolio of 22 units that give him $10,000 per month in income. Bryce also shares a phenomenal concept he called “vacuuming the truck,” which could change the way you think about real estate (and life) forever.In This Episode We Cover: Bryce’s special introduction His inauspicious beginning as a real estate investor What he learned from his mistakes How a friend who lives for free in his apartment influenced him What he’s learned from having his first duplex What you should know about PITI How he financed the purchase of his duplex The upsides of being a landlord The risks of real estate investing The “vacuum truck” story The number of units he has and the reason he retired How to seek out “hidden ROIs” How he finds and funds deals What his future looks like And SO much more! Links from the Show BiggerPockets Forums Trulia Zillow HotPads Broke to Retired in 15 Years Mr. Money Mustache Grant Cardone BiggerPockets Podcast 272: No Money, No Deals, No Time? Overcoming Real Estate’s “Big Three” with Brandon Turner & David Greene Tweet Mindy BiggerPockets Youtube Channel Books Mentioned in this Show Rich Dad Poor Dad by Robert Kiyosaki Think and Grow Rich by Napoleon Hill Fire Round Questions Would you decrease monthly rent in order to keep a good tenant? I’m having a hard time finding a QUALIFIED tenant. Where do you list your properties for rent? Tweetable Topics: “You can live more cheaply by buying a multifamily.” (Tweet This!) “Sometimes you need a partner to push you to be a little stronger.” (Tweet This!) “You don’t want to mitigate the risk of real estate. They are there.” (Tweet This!) Connect with Bryce Bryce’s BiggerPockets Profile Bryce’s Youtube Channel Bryce’s Company Website Bryce’s Email Address Learn more about your ad choices. Visit megaphone.fm/adchoices

“The wrong lease could cost you $15,000 or more.” That’s one lesson of many you’ll get today on this powerful episode of the BiggerPockets Podcast. In this show, we sit down with real estate investor and attorney Rob Oliver to learn how he went from helping other investors buy real estate to owning over 300 condo units while working full-time. In addition to his incredible story, you’ll also get keen insight into the world of real estate investing from the eyes of an attorney—without the $250 billable hour! You’ll learn the importance of a strong lease (and what happens if you don’t have one), as well as instructions on how to find a great attorney and get the most from the attorney for the least cost.In This Episode We Cover: How Rob got started in real estate The journey from lawyer to investor How to find properties other investors aren’t looking for Why he invests in condos Tips for investing while working full-time Advice for those starting out in real estate investing The different hats he wears and what he does in his business How to grow a 100-unit portfolio What to do with nonpaying tenants How to find a great lawyer Why it’s OK to cancel a deal What his future looks like And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Landlord Forms Zillow Redfin Books Mentioned in this Show Rich Dad Poor Dad by Robert Kiyosaki The Cashflow Quadrant by Robert Kiyosaki Jesse Livermore: World’s Greatest Stock Trader by Richard Smitten Fire Round Questions Hey guys what are some of the clauses that you find extremely useful to have in your leases? Without starting from scratch, I’d love to see if anyone has an existing clause to a lease listing certain conditions that shall be adhered to by the tenant. Tweetable Topics: “You don’t need to know everything before you get into a deal. There is actually time to research it.” (Tweet This!) “Each deal that you cancel, you learn something from it.” (Tweet This!) Connect with Rob Rob’s Law Firm Rob’s Email Address Learn more about your ad choices. Visit megaphone.fm/adchoices

What rules govern your real estate investing strategy? For most, it’s a tough question to answer. But not for today’s guest, Paul Morris. Paul, co-author of the bestselling Wealth Can’t Wait, has been investing in real estate for more than twenty years and has never lost money, all because he abides by three simple rules. Today, Paul also discusses the power of mindset in building wealth, the key to investing in emerging markets, and much more. This episode will surely inspire, motivate, and educate you to continue your journey toward financial freedom.In This Episode We Cover: How Paul got into real estate investing Using syndication to do your deals The types of properties he is buying Stick with what you know The three rules Buying where you know How to buy in an expensive area The 24-hour city What’s the barrier of entry on real estate? What is an emerging neighborhood? An interesting story about a keynote speech What is hard work? 10x your goals How we affect others and vice versa Living life to the fullest Hire people who will love you And SO much more! Links from the Show BiggerPockets Forums House Hacking 101: How to “Hack” Your Housing and Get Paid to Live for Free BiggerPockets Money Show Tiger21 Mastermind Group BiggerPockets Podcast 254: Tim Ferriss on Real Estate, Becoming a Top Performer and His Tribe of Mentors BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn Books Mentioned in this Show You Can’t Teach a Kid to Ride a Bike at a Seminar by David H. Sandler Wealth Can’t Wait by David Osborn & Paul Morris Set for Life by Scott Trench The War of Art by Steven Pressfield The Influential Mind by Tali Sharot Fire Round Questions I just bought my 1st deal… now How soon can I buy my 2nd property? Is there a waiting period? Where can I find a private lender to fund my real estate deals? Tweetable Topics: “You can’t do everything on your own.” (Tweet This!) “You buy where you know.” (Tweet This!) “The thing that stops people form taking action is the fear of loss.” (Tweet This!) “Your net worth will never exceed your self worth.” (Tweet This!) “What got us here will not get us there.” (Tweet This!) “There’s a lot more hard money out there than there are good deals.” (Tweet This!) Connect with Paul Paul’s BiggerPockets Profile Paul’s Website Paul’s Instagram Profile Paul’s Twitter Profile Paul’s Facebook Page Email Paul Learn more about your ad choices. Visit megaphone.fm/adchoices