Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers.
Co-hosted by Brandon Turner, David Greene, and BiggerPockets founder Joshua Dorkin, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people.
Start listening and join the 1.3 million members who are learning to invest! Visit biggerpockets.com, and follow us on Instagram (@biggerpockets, @beardybrandon, @davidgreene24, @jrdorkin) and Twitter (@BiggerPockets, @BrandonAtBP, @DavidGreene24, and @jrdorkin).
466: Buying “Lottery Ticket” Investment Properties with Alan Corey
Alan Corey has had an interesting career to say the least. He’s been an IT worker, a comedian, an author, a real estate investor, and even a reality TV star. Alan has always been fascinated with making passive income in a frugal, but very intelligent way. He’s so frugal in fact, that he made up a crazy story to be on the Jerry Springer show, just to get a free trip to Chicago out of it. Talk about being committed!
Alan’s real estate story starts off with buying a 1 bedroom apartment in Brooklyn, New York, hanging up a curtain in the living room, and house hacking. He then repeated this strategy over and over again, becoming a millionaire before 30 years old, with a lot of property and “good debt”. Alan is part of the FIRE (financial independence retire early) community, but instead of investing mainly in stocks, he does so in real estate.
His strategy is simple: buy a rental property for every bill you have, then start inventing “fun bills” as excuses to buy more rental property. Whether you’re looking to pay off your phone bill every month, or finance your brand new Tesla, this strategy will work for you. Alan also “hides money from himself” so he can be better off in the future. Right now he’s sitting on around $8,000,000 of real estate solely from his own investments.
His new book House FIRE teaches you everything you need to know about retiring early with real estate!
In This Episode We Cover:Chasing financial independence and early retirement with real estateTaking on “good debt” so you can grow you real estate portfolio fasterThinking of each property you buy as a “lottery ticket”Alan’s books: A Million Bucks By 30 and House FIREThe danger of high-interest consumer debt (like credit card debt)Seller financing and zero cash-flow triple net leasesAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets Youtube ChannelAlan Corey's Video SamplerDave RamseyBiggerPockets Podcast 344: “No Money” Real Estate Investing with Gabriel HamelBiggerPockets Business Podcast 13: 3 Rules for Crushing It in Business with ‘Shark Tank’ Star Barbara CorcoranShark TankCheck the full show notes here: https://www.biggerpockets.com/show466
465: How Ryan Serhant Uses "Big Money Energy" To Make Millions
If you don’t feel amped up to accomplish your goals, you definitely will after this episode. Today we talk to real estate agent, entrepreneur, author, and Million Dollar Listing New York star, Ryan Serhant. You’ve probably seen Ryan selling ridiculously nice (and expensive) homes on TV, but today you’ll be the private audience to hear his backstory, his work ethic, and how he developed his big confidence.
Ryan moved to New York to become the next big star in theatre, but after seeing the financial position of those “successful” actors he looked up to, he made a pivot. Ryan got his real estate license and started listing apartments to pay his bills, but was given a golden opportunity when an foreign buyer specifically chose him to find her next multi-million dollar home in New York City. Ryan still remembers the lack of confidence he felt when he got the listing, and knew the only thing to do was educate himself and practice his pitch. Long story short, he helped the buyer find her dream home, and the rest is history.
You’ll hear Ryan talk about the importance of confidence, not only in this podcast, but in his new book Big Money Energy. Brandon and David both agree with Ryan on how important, and often undervalued, having confidence is. Not just confidence in your work, but confidence that you’ll be able to accomplish the most challenging tasks you set for yourself!
In This Episode We Cover:Selling the most expensive home in FloridaUsing the pandemic to springboard a new career or venture Taking on a task, developing the confidence, and succeeding Leaning to own the things that make you different from everyone elseStop focusing on the deals and start focusing on “the work”Many, many multi-million dollar deal storiesAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets WebinarsBiggerPockets BlogBiggerPockets BookstoreBiggerPockets PodcastSerhant BrokerageRyan's personal websiteClick here to check the full show notes: https://www.biggerpockets.com/show465
464: Scammed, Cheated, But Still Coming Out with 50 units with Welby Accely
Many, many people give up on real estate after just one bad deal, one bad tenant, or one bad flip. But what if you lost all you had from real estate deals, would you still be willing to bet on real estate? What if you lost it all twice? Welby Accely, has been in that position. He lost all he had, two separate times through dicey real estate deals. He never did give up on real estate, and now he’s sitting on 50 rentals and over 70 completed flips.
Welby grew up in Brooklyn, and knew that his godfather was doing well in real estate, so when he got older, he decided to give it a shot. He invested in a multifamily deal in Atlanta, overleveraged himself, and had it foreclosed on him. A few years later, he had another Atlanta property taken from home. Welby was wiped out. He got scammed, lied to, and dove in too deep a couple times.
After these tough experiences, he knew he had to do whatever he could to make sure his due diligence was top notch. He was later told about Connecticut, and decided to take some serious time exploring the market, building relationships, and networking. Then, he started flipping. 1 house a year, 2 houses a year, then 15 houses a year, and now 20 houses a year.
Now, Welby takes young and aspiring real estate investors on “ride alongs” so they can see exactly what it’s like to be a real estate investor!
In This Episode We Cover:How crucial it is to understand your market before you investNever trusting a new partnership without proof of concept and contractsPulling yourself back up after losing tens of thousands of dollarsPutting in offers everyday so you can secure a dealHard money loans vs. using your own capitalHelping build other’s businesses so they stay loyal to yoursAnd SO much more!Links from the ShowBiggerPockets ForumsWater Park ScamBiggerPockets WebinarsBiggerPockets Blog Check the full show notes here: http://biggerpockets.com/show464
463: How to Get Your First or Next Property (Step-by-Step) in 90 Days
We often have famous guests come on the BiggerPockets podcast and talk about their deals, their businesses, and their journey. Today you’ll hear from one of the biggest real estate celebrities, Brandon Turner, as he goes through the 90-day challenge, preparing you to buy your first (or next) real estate deal in the next 90 days.
You’ll hear Brandon’s story on why he went into real estate, how he grew his portfolio, and the exact steps he took to reach financial freedom and grow his portfolio to over 1,000 units! We’ll go through developing a real estate strategy, picking a niche, finding your “why”, finding a deal, marketing, financing, and calculating a real deal live on the (pre-recorded) webinar!
This is the hand-down best place to start as a newbie investor or an investor who just wants to grab some more deals in the next 90 days. These actionable steps have helped hundreds of investors across the BiggerPockets forums, and can help make you a successful real estate investor sooner!
In This Episode We Cover:Discovering your “why” behind investing, real estate, financial freedomHow to find deals even in competitive markets Going over a live deal using the BiggerPockets rental property calculatorHow to find your “home run number” that makes a deal greatUsing the L.A.P.S funnel to never run out of dealsFinancing and funding your first property (even with no or low money down)And So Much More!Links from the ShowBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets PodcastOpen Door CapitalThe 90 Days ChallengeReal Estate Investment CalculatorsClick here to check the full show notes: https://www.biggerpockets.com/show463
462: The 5 Fundamentals That Lead to $35M of Real Estate in 1 Year with Terrance Doyle
Some would call Terrance Doyle a “baller”. Not because he’s done hundreds of millions of dollars in real estate transactions, or because he has done over 600 flips, or because he helps lead the Tribe of Multifamily Mentors. Terrance played college basketball, which grew into working as an NBA sports agent, garnering him access to famous coaches, players, and executives.
Terrance and a couple of his college teammates started a franchise after college, and needed somewhere to park cash. Another teammate helped Terrance buy a foreclosure at a public trustee sale, which he flipped for a sizable profit. This is when he knew that the real money was made in real estate. Between 2008 and 2014, Terrance did over 600 flips, in multiple different areas of the country.
As he learnt to build relationships and rapport with buyers, sellers, lenders, and contractors, Terrance started taking on bigger and better deals. He’s done $35,000,000 in transactions since the start of the pandemic and relies on the five basic fundamentals of real estate: know your market, be aggressive, be faster than the competition, have solid lenders, and make sure your ducks are in a row.
In This Episode We Cover:The 5 fundamentals of successful real estate investingGoing from NBA agent to full-time real estate professional Finding your competitive edge and knowing where you can add valueHow to invest in a very expensive market (like Denver!)Cap rates, NOI, cash on cash return, and other important metricsHow to run your organization more efficiently, so you can do moreAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelCheck the fulls how notes here: http://biggerpockets.com/show462
461: Defeating the "Enemy of Success" with Steven Pressfield (The War of Art)
It’s daunting to wake up every day and try your best at whatever it is that you do. Maybe it’s your job, maybe it’s real estate, maybe it’s writing a book. When you sit down at your desk, there’s that little voice that says “get another cup of coffee” or “just take a little email break before you start” or “you’re not going to get anything done, who are you kidding?”
This is the voice of resistance, and to author Steven Pressfield, it’s a voice that needs to be silenced and controlled at all costs. Steven should know, he wrote the book on fighting resistance, The War of Art, where he talks about how to keep up inspiration, even when there isn’t any to be found. As Steven puts it “an amateur does things when they feel like it, a professional doesn’t care how they feel, they just do it.”
This is something many real estate investors struggle with. We want to buy another property, but we get stuck in analysis paralysis, or scared off by some new type of financing, or don’t want to take on another rehab. Professionals don’t let their environment (or their own mind) tell them what they should and shouldn’t do. Professionals do what has to be done.
We also talk with Steven about his latest book A Man At Arms and why the ancient world of nobility and strength intrigued him so much. If you’ve seen any of Steven’s films, read any of Steven’s books, or just want to push through to success, you’ll love his take on writing, success, and failure.
In This Episode We Cover:How to push past failure, regardless of the line of work you’re inOvercoming the “analysis” phase of any new venture or life dreamHow resistance plays a role in failure for many real estate investorsHow to fight resistance so you can push through to your goalsThe villain on the outside, and the villain within youAnd So Much More!Links from the ShowBiggerPockets PodcastOpen Door CapitalBiggerPockets book storeBrandon's InstagramDavid's InstagramThe 90 Days ChallengeSteven's WebsiteClick here to check the full show notes: https://www.biggerpockets.com/show461