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Nate Shields and Troy Zimmerman had a straightforward goal: get to one hundred rental units in ten years. Now, near the halfway mark, Nate and Troy have made almost unbelievable progress in a real estate market most investors perceive as radioactive. With overpriced properties everywhere you look, out-of-whack cash flow, and high mortgage rates, will good deals ever come back? Thankfully for Nate and Troy, finding a deal was never the assignment; making a deal was. After going through difficult partnerships in the past, Nate and Troy were hesitant to hop in the game together. But after years of getting to know each other’s strengths and weaknesses, it was only natural for them to tackle big deals together instead of small deals apart. Now, with forty rental units under their belt, they’re well on their way to hitting their hundred-unit goal. But this wouldn’t have worked out if they hadn’t made one special phone call. In this episode, Nate and Troy will review their most recent acquisition, a fourteen-unit apartment complex with tricky financing in northwest Alabama. They’ll also share how calling one desperate listing agent unlocked a deal flow that brought dozens of units directly to them. If you’re struggling to invest in today’s demanding market and don’t think there are any deals worth the effort, this episode could change everything for you. In This Episode We Cover: The “desperate” real estate deals that NOBODY is looking at (and where to find them) Real estate partnerships and why investing together beats going at it alone  Exit strategies and the BIG mistake most partnerships make when getting started  Why you might be just one phone call away from the best real estate deal of your life Seller financing and how to use it to lower your loan costs and get a tricky deal done Raising private capital and who you should (and shouldn’t) accept money from  And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube Are You an Agent? Work with Nate to Get More Leads! Partnerships: What to Do Before You Jump in With Another Investor Connect with Nate & Troy: Nate's BiggerPockets Profile Nate's Instagram Troy's BiggerPockets Profile Troy's Twitter Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-791 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Building a real estate portfolio in 2023 isn’t as easy as it used to be. Without the free-flowing deal flow of the past decade, real estate investors need to try more intelligent strategies to snag properties that can help them reach financial freedom. To help them hit their goals, expert investors David Greene and Rob Abasolo have been coaching a small group of real estate mentees on their journey to build a robust property portfolio. Over the past three episodes, we’ve seen them build their buy boxes, decide on markets, formulate offers, and level up their investor skills. At the end of this ninety-day journey, our mentees have made some profound revelations. We start with Philip, who’s been struggling to find a worthwhile campground to get under contract. He’s been able to wrangle in a deal, but it comes with “hairy” circumstances that could allow him more bargaining power when negotiating with the seller. Next, Wendy is back on her hunt for a house hack. After viewing potential properties in the Las Vegas area, she’s had to pivot her investing strategy to tackle something that comes with lower costs. And finally, Danny joins us to talk about two “offensive” offers he made and the “pickle jar” method that investors should know about before negotiating with a seller. All of the mentees have made MASSIVE strides in their real estate investing journeys, but what comes next is entirely up to them. Stick around to hear how they got ahead of the game, what made the most significant difference in their property searches, and how they’re gearing up to tackle even bigger deals throughout 2023! In This Episode We Cover: Negotiating with a seller and what to do when hidden costs pop up during your due diligence Networking with other investors and the MASSIVE benefit that comes with it House hacking, medium-term rentals, and what to do when struggling to find cash flow Pivoting your rental property strategy and why you should NEVER make an offer unless the numbers make sense Making “offensive” offers and why lowballing isn’t always such a bad thing Building your “buy box” and keeping it flexible enough, so you’re still able to get properties under contract Analysis paralysis, outsourcing, and what will stop you from making it in real estate And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Rob’s BiggerPockets Profile Rob’s YouTube Rob’s Instagram Rob’s TikTok Rob’s Twitter BiggerPockets Podcast 708 Part 1 BiggerPockets Podcast 719 Part 2 BiggerPockets Podcast 726 Part 3 Connect with Our Mentees: Danny's BiggerPockets Danny's Instagram Philip's BiggerPockets Philip's Instagram Philip's Website Wendy's BiggerPockets Wendy's Instagram Wendy's LinkedIn Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-738 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Scott Wilson. Scott is the CIO of Washington University’s endowment, which manages over $13 billion. In this conversation we discuss WashU’s non-traditional endowment model and cover a variety of asset classes and geographies. We talk about the qualities Scott looks for in managers, lessons from investing in Asia and emerging markets, and red flags in the venture space. Please enjoy this conversation with Scott Wilson.   For the full show notes, transcript, and links to mentioned content, check out the episode page here.   -----   This episode is brought to you by Tegus. Tegus streamlines the investment research process so you can get up to speed and find answers to critical questions on companies faster and more efficiently. The Tegus platform surfaces the hard-to-get qualitative insights, gives instant access to critical public financial data through BamSEC, and helps you set up customized expert calls. It’s all done on a single, modern Saas platform that offers 360-degree insight into any public or private company. As a listener, you can take Tegus for a free test drive by visiting tegus.co/patrick. And until 2023 every Tegus license comes with complimentary access to BamSec by Tegus. -----   Today's episode is brought to you by Brex. Brex is the integrated financial platform trusted by the world's most innovative entrepreneurs and fastest-growing companies. With Brex, you can move money fast for instant impact with high-limit corporate cards, payments, venture debt, and spend management software all in one place. Ready to accelerate your business? Learn more at brex.com/best.   -----   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:38] - [First question] - What he learned about markets from quant fixed income trading  [00:04:42] - How his experience shaped his degree of skepticism of the world [00:05:15] - The story that brought him to Grinnell College  [00:06:45] - What his education was like back in 2010 and what seemed sensible and insane when he arrived [00:09:37] - His philosophy around trying to have more direct ownership [00:12:03] - Lessons learned about choosing good partners and doing it effectively over time [00:13:51] - Things that are most enjoyable about getting to know new managers  [00:16:17] - Why they spend so much time in frontier and emerging markets [00:18:21] - Lessons learned from investing in China and thoughts on it today  [00:23:16] - The worst things he sees from venture investors  [00:24:39] - Whether or not venture investors should care more  [00:27:55] - What percentage of investors in private equity are investors versus just involved to try and engineer returns [00:28:59] - His impressions on hedge funds and the evolution of the hedge fund model [00:31:18] - The role that credit can play in a portfolio like the one he manages now  [00:36:34] - Everything he’s learned about asset managers acting as asset gatherers [00:39:35] - Ways he fights convergence and tracking error overseeing so much capital  [00:41:49] - What it’s like to go through the bad side of tracking error [00:45:43] - What he sees as a normal level of tracking error for endowments and foundations [00:46:59] - Why such big pools of institutional capital tend to look so similar  [00:48:10] - Whether or not real estate sits somewhere between stocks and bonds [00:51:10] - Colliding managers in a fun and spirited way at meetings  [00:52:16] - An investing trip from his career that he finds most memorable [00:52:50] - The kindest thing anyone has ever done for him

We have a real estate and investing mastermind session in this episode of the BiggerPockets Real Estate podcast! J Scott, Amanda Han, & Matt MacFarland join David and Brandon to discuss what investors should do to maximize their wealth (and opportunities) in 2021. Co-host David Greene goes over his new book SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business, talking through who should (and shouldn’t) be an agent, what makes a great agent, how agents can maximize their income, and more! J Scott talks heavily about how the election, stimulus packages, and new (proposed) tax codes could hurt (or help) real estate agents, and what you can do to ward off higher tax plans, loss of rent, or even inflation. Amanda and Matt are our tax professionals on the show! They dive into which upcoming 2021 tax codes could affect you, whether you’re an agent, a real estate investor, or just a W2 worker! This is a fantastic episode for any listener who wants to know more about how 2021 may shape our economic future. Thankfully, we have some of the best guests in the world to tell you about it! In This Episode We Cover: Who should and shouldn’t become a real estate agent How to offset earned income tax with real estate investments Why you should buy David’s new book SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business The new opportunity of buying businesses in 2021 How to hire your best workers (and why you may need to let some go) How 2020 taught us to keep our businesses lean What to do if 1031 exchanges go away How inflation may affect your wealth over the next 1-5 years Why debt is a great inflation hedge And SO much more! Links from the Show BiggerPockets Forums David's Instagram Brandon's Instagram BiggerPockets Podcast BiggerPockets Bookstore 20% off code: podcast BiggerPockets Business Podcast 20: The Questions You MUST Ask Every Potential Hire with David Greene BiggerPockets Business Podcast 18: How to “Have It All” by Living with Intention with Brandon Turner BiggerPockets Business Podcast BiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray BiggerPockets New Books! BiggerPockets Podcast 319: Avoid These Common Newbie Mistakes! Hard-Earned Lessons from Nathan Brooks Paying Off Student Loan Debt with a Median Income and Two Kids in Northern California with Kyle Renke Bring Brandon a Deal BiggerPockets Webinars BiggerPockets Facebook Page Check the full show notes here: http://biggerpockets.com/show424 Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever dreamed of being a successful multifamily investor who owns millions of dollars in real estate while others manage your assets? Well, today’s guest is doing just that! Brandon and David sit down with Chad Doty, a one-time businessman who ditched corporate life and moved on to real estate, now owning 3,000 units! Chad shares TONS of meaty insight, including what he looks for when choosing a market, where he’s currently investing (and avoiding), and four rules of thumb for building a multifamily business. Chad gives great advice regarding overcoming high barriers to entry, getting brokers to take you seriously (even as a newbie), and adding value to properties in order to generate big profits. Plus, you DO NOT want to miss Chad’s take on finding deals others are missing, the order in which you should build your team, and how he would invest his grandmother’s last 100K! If you’re looking for an episode with so much value you’ll feel guilty you didn’t have to pay for it, download this one now! In This Episode We Cover: How Chad got into multifamily What evergreen is Two real estate myths What comes first: deal or money The market he invests in and why His success metrics The four components of any successful business Raising money to fund an apartment building Increase rent vs. decrease expenses What does his team look like managing thousands of properties Rules of thumb for communicating with property management His thoughts on the future of today’s market And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar Real Estate Glossary Grant Cardone on Multifamily Investing and Why You Should Never Buy a House! (podcast) BiggerPockets Podcast 316: How to Become a Millionaire Through Real Estate by 26 with Graham Stephan (podcast) BiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay Papasan (podcast) Books Mentioned in this Show The Speed of Trust by Stephen Covey The Millionaire Real Estate Investor by Gary Keller The Goal by Eliyahu M. Goldratt Tweetable Topics: “Money flows to competency not to good deals.” (Tweet This!) “Capital formation is the ultimate entrepreneurial skill.” (Tweet This!) “If emotions are going to be out there, use it to your benefit.” (Tweet This!) “Embrace the suck required to get good. But once you do that, the world is your oyster.” (Tweet This!) “Hospitals are 24-hour blue collar job factories.” (Tweet This!) Connect with Chad Chad’s Personal Website Free Report for Evidenced Based Investing Learn more about your ad choices. Visit megaphone.fm/adchoices

Rob B starts by reminding you that what may be right for one person, won't necessarily be right for another. There will be pros and cons to each approach and there's no absolutely 'right' answer for everyone. However, whilst there is definitely an advantage in being a 'local expert' it is unlikely that your local area will consistently be a smart place to invest, which is why Rob & Rob invest all over the UK in places they consider to have good fundamentals. Rob allocates a lot of his time to research, and considers it to be lower risk to invest in different locations. 

Rob D agrees, it's definitely lower risk to invest in different areas IF you do good research to avoid making any mistakes. Rob D also adds a note of caution for this weeks caller, who had stated she had received lots of BMV deals and reminds everyone to check out these deals really thoroughly before going ahead, and be super diligent with your fact-checking. 

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Most of the guests we’ve had on the BiggerPockets Podcast have specialized in one niche of real estate. However, not all real estate investors focus on just one field. Today we want to shake things up a bit and introduce you to a relatively new investor who took 10 years to get his first deal… but has been on fire ever since engaging in numerous different real estate niches and crushing it in his business. Paul Tschetter, an investor from Washington State, shares his diversified real estate strategies and explains how we went from nothing to over a dozen deals in the past several years. From manufactured homes to vacation rentals, commercial, and more- there are an unbelievable amount of great actionable tips in today’s show. Definitely don’t miss a second of this motivation and insightful conversation! In This Show, We Cover: Getting started by working a job in real estate  Why Paul started investing with a free manufactured home How much Paul pays for handymen How to get infinite returns with your investments Using Hard Money to invest in real estate Working with partners to invest Attracting private money Working with multiple exit strategies to minimize risk How to invest when you live in a big area Paul’s vacation rental on “Useless Bay” Tips for getting your first deal The worst financial advice Paul has ever heard And a lot more!  Links from the Show How I Found, Analyzed, and Bought an Ugly Purple Rental Property by Brandon Turner Redfin.com VRBO Books Mentioned in the Show The ABCs of Real Estate by Ken McElroy Think and Grow Rich by Napoleon Hill Tweetable Topics “As an investor, you need to be extremely disciplined.” (Tweet This!) “Different locations are good for different investment strategies.” (Tweet This!) “At some point – you have to just pull the trigger and just jump in and do it.” (Tweet This!) Connect with Paul Paul’s BiggerPockets Profile  Paul’s Website http://www.KingdomEG.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Today on the BiggerPockets Podcast we sit down with Ryan Lundquist, a professional real estate appraiser in the Sacramento area. An appraiser is one of the most important professionals that you, as an investor, are likely to deal with over and over in your business. Furthermore, knowing how to deal with an appraisal, especially when it comes in too low, is a skill that can help any investor. Keeping with the “actionable content” approach that BiggerPockets is known for, this podcast will help you improve your investing by pulling back the curtain on the appraisal industry through our discussion with Ryan. Thank you to everyone who has subscribed in iTunes to help make us one of the top business podcasts in all of iTunes! Every subscription and every review helps us reach more people – so thank you! In Today’s Podcast, We Cover: How you can determine what a property is worth. When you should, and shouldn’t, use Zillow or other AVMs. How to challenge a bad appraisal. What to do when sales prices are higher than the appraiser will go. Dealing with the Hedge Funds in the market. Tips for getting your appraisal amounts higher by bringing your own comps. Dealing with FHA loans in your investments … and the dreaded FHA Appraisals. The most common property condition problems an appraiser is going to ping you on. How to deal with lead based paint in your investments. Links From the Show: Ryan’s Recent BiggerPockets Blog post: How to Challenge a Low Appraisal BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli How Legos Can Help us Understand Real Estate What Legos Can Teach us About Real Estate Part II Appraisal Woes – BiggerPockets Forum Discussion The BiggerPockets FHA Home Inspection Checklist FHA Lead In Your Home: A Parents Reference Guide Tweetable Topics: “The first step in discovering your property value is defining your location.” (Tweet This!) “Why not be proactive instead of reactive?” (Tweet This!) “In business, go in as a bridge builder, not a name caller.” (Tweet This!) “Investors: Get to know an appraiser – take them out to lunch, build that relationship.” (Tweet This!) “Understand your market at the same level that your appraiser does.” (Tweet This!) About Ryan Ryan Lundquist is a certified residential real estate appraiser based in Sacramento, CA. He provides appraisals and valuation consulting for a variety of clients including CPAs, attorneys, investors, home owners and lenders. Ryan is an avid blogger, bike rider, optimistic doer and family man with two sons. Ryan’s BiggerPockets Profile Ryan’s Company Website: SacramentoAppraisalBlog.com Learn more about your ad choices. Visit megaphone.fm/adchoices