dealmachine

Why do you want to invest in real estate? Is it just about having a lot of units—or is it about creating a life you can be proud of? On today’s episode of The BiggerPockets Podcast, we sit down with Josh Daniels, a real estate investor in Montana who, along with his wife Summer, has chosen to buy fewer but better deals on a quest for financial freedom. You’ll hear about Josh’s highly creative actions that turned their first deal into a cash-cow, as well as the shift to (and reason for) investing in single family houses. You’ll love Josh’s attitude toward financial freedom, as well as his message that you don’t need hundreds of units to be free. In This Episode We Cover: How Josh got started investing right out of college The story behind his killer first rental Rental rates for this property How they earned $80k on their next deal What exactly a live-in flip is How they manage their properties A discussion on tenant drama in multi- vs. single-family properties Josh’s “why” in his investing How to handle emotional attachment to deals Tips on financing deals through the BRRRR method His thoughts on Dave Ramsey’s advice for paying off loans And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Bookstore 500k Net worth in 5 years (I’m 30 today!!!) (Forum Post) Dave Ramsey From Shop Teacher to Multifamily Syndicator with Todd Dexheimer Books Mentioned in this Show The Millionaire Mind by Thomas J. Stanley The Millionaire Next Door by Thomas J. Stanley Brandon’s Book on Rental Property Investing The Total Money Makeover by Dave Ramsey Fire Round Questions New member – Looking for advice on getting started How many chances do you give a tenant who pays late? This house has no takers Tweetable Topics “Ignore everything on the MLS. Drive every street and check out dilapidated properties.” (Tweet This!) “Life is not a competition.” (Tweet This!) Connect with Josh Josh’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of the BiggerPockets Podcast we sit down with real estate investor Shaun Reilly to talk about a wide range of topics – from getting started while living in an expensive area to wholesaling, putting in offers, flipping houses, buy and hold, and a lot more. This interview was a ton of fun to do and there are so many great nuggets of information that anyone who listens will walk out with skills they can apply to their real estate investing business. Read the transcript for episode 43 with Shaun Reilly here. In This Show, We Cover: How to start investing when properties are super expensive The benefits and pitfalls of investing in condos How Shaun got his first successful flip from a failed wholesale deal Investing in real estate with a credit card Shaun’s direct mail campaign – and how he got the list for free Tips on working with real estate agents Offering on HUD Properties Offering on hundreds of properties to see what sticks The mistakes Shaun has made in his real estate investing The craziest property anyone on our show has ever purchased And more! Links From the Show: BP Podcast 038: Unique Strategies for Buying Real Estate with Travis Daggett Books Mentioned in the Show: Rich Dad Poor Dad by Robert Kiyosaki Rich Dad’s CASHFLOW Quadrant by Robert Kiyosaki Rich Dad’s Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! by Robert Kiyosaki Nothing Down: How to Buy Real Estate With Little or No Money Down by Robert Allen The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen R. Covey Getting Things Done by Robert Allen Tweetable Topics Don’t focus on simplistic things that are easy to do but are not effective. (Tweet This!) The key to buying troubled properties is buying them at the right price. (Tweet This!) There are two kinds of real estate investors – those who make a lot of money and those who give up too soon. (Tweet This!) Connect with Shaun Shaun’s BiggerPockets Profile Shaun’s BiggerPockets’ Member Blog Shaun’s Lead Gen Website: http://www.rre-homes.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Wholesaling real estate is a popular topic on BiggerPockets and often one of the first strategies used by newbies to build cash reserves. However, wholesaling is a business that requires certain systems, strategies time, and sometimes even cash to prosper at. In today’s episode of the BiggerPockets Podcast, we talk with expert wholesaler and marketing whiz Sharon Vornholt about some of those strategies and techniques that she uses to make an income as a full time wholesaler. Read the transcript for Episode 12 with Sharon Vornholt here In Today’s Wholesaling Podcast, We Cover: An easy, cheap (free!) way to find more cash buyers than you can handle. The first step for wholesalers Sharon’s primary source of leads for motivated sellers The step-by-step process for making money as a wholesaler Double-closings vs. an assignment: Which is best? How Sharon closes deals with no money whatsoever Typical response rates from direct mail campaigns Why “pain” is a great thing to discover… Awesome strategies for negotiating with sellers The mistake Sharon made when starting out… and how you can avoid it. What the key to success really is. Links From the Wholesaling Show: Wholesaling Articles on the BiggerPockets Blog: What Is A Double Closing? A Real Estate Wholesaling How To Exit Strategies For Wholesalers. What Is A Double Closing? How to Start Wholesaling: Getting Past The Education and Into the Field Don’t Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper 9 Reasons You Couldn’t Find A Buyer For Your Wholesale Deal BiggerPockets Podcast 11: Flipping Houses 101 with J Scott ListSource.com – (Motivated Sell Lists for Direct Mail Campaigns) Books Mentioned in the Show Rich Dad Poor Dad by Robert Kiyosaki Success Principles by Jack Canfield Tweetable Topics: “Wholesaling is about relationships.” (Click to Tweet!) “When negotiating, learn to adjust the other person’s expectations” (Click to Tweet!) “Learning how to buy property for the right price is the difference between success and failure.” (Click to Tweet!) “It’s all about marketing. You have to have leads in order to get deals.” (Click to Tweet!) “Anyone who claims to know everything about anything is full of crap.” (Click to Tweet!) Thank You! Thank you again to everyone who has subscribed in iTunes to help make us one of the top business podcasts in all of iTunes! We’re up to 166 5-Star Reviews so far with over 89,000 downloads! Every subscription in iTunes and every review helps us reach more people – so thank you! About Sharon Sharon Vornholt is a professional real estate wholesaler who began investing in real estate in the Louisville, KY area in 1998. While she has done both rehabbing and buy and hold investing, her primary area of focus now is wholesaling. Sharon is a regular contributor on the BiggerPockets blog and an avid blogger on her own site, LouisvilleGalsRealEstateBlog.com. Sharon’s BiggerPockets Profile Sharon’s BiggerPockets Blog Articles Sharon’s Facebook Page Learn more about your ad choices. Visit megaphone.fm/adchoices