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The BiggerPockets Podcast, hosted by Josh Dorkin and Brandon Turner, is an extension of that community - bringing you incredible real estate investing training, interviews, tools, and tips each week to help you grow your business and build wealth. You won't find the latest and greatest self-proclaimed guru here on the BiggerPockets Podcast, but actual real-life, in-the-field real estate investors who are actually living the life they talk about. Be sure to check out BiggerPockets.com for more than 1,500,000 forum posts, 10,000 articles, and start connecting with over 450,000 other like-minded members for free. Whether you are a complete newbie, a house flipper looking to improve your house flipping skills, a wholesaler looking for insight into how make more money, or a buy and hold landlord looking to improve your real estate investing skills - the BiggerPockets Podcast will help you achieve your goals and get bigger pockets!
BiggerPockets Podcast 451: Stop Chasing the “False Summit” with Michael Hyatt
Does it ever seem like working overtime is a competition? We often see people bragging about how they work 60 hour weeks, work on weekends, or spend the most time at the office or in front of their computer. Does this constant overworking actually accomplish something or is it more of a chest-beating competition? Michael Hyatt argues that working crazy hours rarely does anything for our productivity, and if anything, can make our work sluggish and dull. He should know, in the beginning of the COVID-19 pandemic as teams were working more than ever from home, Michael decided to do the opposite. Michael lowered his (and his team’s) working hours from 40 hours a week, to 30 hours a week. The result? A profit increase of nearly 100% and company-wide productivity boost. Not only does your work quality benefit, but so do your relationships, your health, and your outlook on life when you are off of the “grind mode”. Michael believes this so much that he wrote a book about it. Win at Work and Succeed at Life goes through what Michael calls the “double win”: winning at life and work, with no tradeoffs! Michael lists a handful of ways you can instantly improve your work/life balance. Tips on sleep, nutrition, and getting your “daily big 3” done so you can accomplish goals that matter, instead of just being productive. If you ever feel like a workaholic, these tips will help you align back to a productive yet enjoyable schedule.
Check the full show notes here: https://www.biggerpockets.com/show451
BiggerPockets Podcast 450: How Your First Time Home Buying Decision Affects Long-Term Wealth
First-time home buyer? At some point, all of us were. How do you make sure you’re getting a great deal, how should you pay for it, and what can you do to make sure it’s a purchase that will help you grow your wealth. In today’s episode, you’ll hear from Scott Trench and Mindy Jensen, hosts of the BiggerPockets Money Show. Their new book, First-Time Home Buyer, shows how to buy your first property in a way that sets you up for long-term success. Most people see their primary home as an investment, but that isn’t usually the truth. Housing is a cost, and like many costs in life, we should try to minimize it when we can. Having a lower housing cost can allow you to invest more of your money, build up safety reserves for repairs, and have the financial bandwidth to live with less stress. Scott and Mindy debate cash flow vs appreciation, how much you should put down on your home, and what kind of liquidity position you need to be in to find success in your purchase and future endeavors. Even if you’re not looking to build a rental empire, this is a fantastic book for anyone who is looking into buying for the first time. Don’t know about equity, title insurance, or other real estate terms? No problem! First-Time Home Buyer has you covered.
Check the full show notes here: https://www.biggerpockets.com/show450
BiggerPockets Podcast 449: How Emails Are Constantly Destroying Your Productivity with Cal Newport
We’ve known for a long time that humans aren’t great at multitasking. Once distracted, our brains find it hard to let go of the new information we’ve just learnt or seen. This is why the constant onslaught of emails, messages, texts, and phone calls could be killing our productivity and creativity. Cal Newport, author of A World Without Email, has seen this first hand.
Cal discusses something he likes to call “Hyperactive Hivemind Workflow”, which is essentially what happens to our brains when we’re constantly being nudged by electronic messages. When you’ve got your head down and are working hard on an important project, just a simple glance at an email can spin everything out of whack.
Here’s the thing, this is happening to all of us, all the time. We are constantly monitoring our emails and messages, and by the mid afternoon, we’re out of energy. We’ve exhausted all of our cognitive resources. But isn’t it productive to check emails and respond to them quickly throughout the day? This is what Cal refers to as the “fool’s gold of busyness”.
Luckily, there are some ways to get us into a more productive state, without having a barrage of emails in our inbox. Cal talks about efficient meetings, Kanban boards, restricting ad hoc communication, having office hours, and being intentional with your time and attention. While these small email responses may seem like just a minute here or a minute there, they actually eat up a huge part of our work life.
Check the full show notes here: https://www.biggerpockets.com/show449
BiggerPockets Podcast 448: The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years
Busy people tend to be...busy, and often, real estate investing is one of the things that they “just don’t have time for”. If you feel that way, listen to today’s guest, Dion Mcneeley as he describes his own system for buying real estate the “lazy” way.
After buying his primary home, Dion heard of success in owning rental properties, so he decided to move out of his house and into an apartment to see if he fit as a landlord. He rented the house to his friend, who later moved out without notifying him. Dion tried to make landlording work with another tenant, but ended up being underwater on the house payments. This is when he found BiggerPockets and read Rich Dad Poor Dad.
What was Dion’s mistake? He wasn’t running his rental properties like a business. After upgrading his processes, he went on to buy and house hack a duplex. Then he bought another duplex as an investment, and another one, then another house hack duplex. Within just 6 years, he had 7 units and was raking in $2,700 a month in pure cash flow!
Dion talks about the mistakes he made, why he prefers side-by-side duplexes, how he’s located his properties for maximum asset protection, and goes into his amazing strategy for getting tenants to sign longer leases and raise their own rents. You can check out Dion’s Youtube channel or find him on the Real Estate Rookie Facebook Group!
Check the full show notes here: https://www.biggerpockets.com/show448
BiggerPockets Podcast 447: Create Your Dream Life Using Vivid Visions with Cameron Herold
What do you want out of life? What do you want to accomplish in the next 3-5 years? When asked this question, most entrepreneurs give a pretty simplistic answer. Something like “Oh, we’ll get more clients by this time next year” or “I’ll buy two more houses and then I’ll be happy”. How often do we sit down and paint a picture of what we want our life to look like? Today we’re discussing Vivid Visions with their creator Cameron Herold.
Cameron is a veteran in the business world, he likes to say that he was “groomed” by his entrepreneurial grandparents and father to become a success story. By the time Cameron was 21, he had a full-on business that had 12 employees, and at 22 he bought his first rental property. He later became a franchisee for College Pro Painters and was so successful that he went on to coach new franchisees.
He’s partnered with hundred-million dollar companies, grown and sold businesses for millions, coached the CEO of Sprint, a monarchy in the middle east, has written 5 books, and runs the Second in Command Podcast, where he talks to successful COOs. Cameron is someone who clearly has accomplished a lot and has a TON of wisdom to share.
Cameron has serious knowledge on business management and talks about the importance of the CEO and COO relationship. Cameron describes how a COO needs to be a partner to the entrepreneur (the CEO) and operate as the ying to the CEO’s yang. If you’ve heard the terms “the visionary and the innovator” from books like Traction, this is exactly what Cameron is talking about.
If you’ve been wondering where the idea of a “plan” or “vision” comes into play, Brandon, David, and Cameron all discuss their “Vivid Visions” and how it’s led them to success in their life. Cameron coined the term “Vivid Vision” because most entrepreneurs were simply writing down a 1-2 sentence mission statement instead of creating a vision of what they wanted their company and future to look like. This vision not only helps you build a life you want by design, it also entices great executives, employees, and partners to join you on your path to that clear and decisive “Vivid Vision”.
Check the full show notes here: https://www.biggerpockets.com/show447
BiggerPockets Podcast 446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren
Have you ever had analysis paralysis? Maybe you have it right now and that’s why you’re listening to this episode! Kyle and Lauren Clugston would call that “productive procrastination”, and the only way to get out of it is to move forward! They should know, it took them over 3 years before they made their first move in real estate investing!
In college Lauren stumbled upon Brandon’s old blog about real estate investing. As she read, she gained more confidence in the craft, and knew that real estate was what she wanted to do with her money. She then started trying to convince her partner, Kyle, that real estate investing was the way to go. As someone without an investing background, Kyle was hesitant, but took a leap of faith which paid off!
Now they're BRRRR-ing their way through New Jersey, with single family and multifamily properties throughout the state. Lauren and Kyle had to learn a lot before they became the real estate success stories they are now. Things like doing inspections, estimating rehab costs, getting financing, setting up systems and procedures, and getting legal documents prepared were at one point a great challenge to Lauren and Kyle. Now, they’ve got them down!
Lauren and Kyle lay out everything they wish their former selves had known, and go through the things that early real estate investors should worry about, and the things they definitely shouldn’t lose sleep over. This advice could save months, weeks, or hours off of your deal analyses and might be just the thing you need to get out of analysis paralysis!
Check the full show notes here: https://www.biggerpockets.com/show446