BiggerPockets Real Estate Podcast BiggerPockets

Last time we did a live Q&A, fans from all over came on to ask questions to Brandon and David. Now we’re back, answering the questions that BiggerPockets Real Estate Podcast fans have on their minds. We’ll go over a handful of questions, all from different investors in different parts of their real estate journey. Questions include:How can investors offload their unwanted properties to charities?How do I stop analysis paralysis even after so much research?Is it a good idea to buy in an area with a falling population?What metrics should I look for when scaling my portfolio?What’s the best niche to build wealth fastest?Plus other commonly asked questionsThanks again to our guests Nicole, Michael, Ryan, Owen, and Emily for throwing their great questions at Brandon and David!

In This Episode We Cover:The biggest regret that most real estate investors haveScaling to bigger and better deals (with higher unit counts)Finding a mentor who can push you to accomplish BIG dealsUsing other people’s money to build your real estate portfolioThe best niches for newbie investors to start out inAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets Youtube ChannelRestoring EdenBiggerPockets Podcast 414: 1300 Units in Real Estate Development at 30 years old with Evan HolladayPetey Pablo - Raise Up (Official Video)Open Door Capital3 Reasons Multifamily Rentals Might Be the Perfect Investment with Paul MooreEvan Holladay's InstagramCharity WaterBiggerPockets Pro MembershipGetting Started with Real Estate Investing: An Interview with My Real Estate MentorCheck the full show notes here: http://biggerpockets.com/show468

Everyone wants to be right all the time. We have so many preconceived notions running through our heads at all times, and we always think that we’re the ones standing on the right side of history. What if that train of thought was secretly pushing you to failure, or even death? Adam Grant argues this point in his book Think Again.

Adam hypothesizes that the main reason so many businesses, relationships, and experiments fail is because those in them tend to be locked in on one view. How many times have you been in a fight with your partner where you realize you maybe wrong, but also realize it would be worse to back down from your original stance?

This is how businesses like Blockbuster and Blackberry slowly faded away while the likes of Apple and Microsoft flourished. Adam talks through some of the best (and worst) moments in business history when companies thought they were too big to fall. The same goes for political candidates, social movements, and almost any other type of human-to-human interaction. The one way you can be sure you’re coming out with the right conclusion? Think like a scientist! 

In This Episode We Cover:The preacher, prosecutor, and politician mindsets Valuing humility over pride and stopping your ideas from becoming your identity How ego, image, and regret play into the way we actBlackberry vs Apple and how Steve Jobs made the right decision Why you should give people FEWER reasons to back up a proposalWhy “super forecasters” will never let a bias persuade themAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets Podcast 254: Tim Ferriss on Real Estate, Becoming a Top Performer and His Tribe of MentorsClick here to check the full show notes: https://www.biggerpockets.com/show467

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

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

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

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