BiggerPockets Real Estate Podcast - Transcripts

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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 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).

01:12:56

BiggerPockets Real Estate Podcast The “Conveyor Belt” System That’ll Build You a BIG Rental Portfolio Quickly The “Conveyor Belt” System That’ll Build...
Multifamily investing is a bit different than other types of residential real estate investing. When the economy begins to shift, and a recession is looming, multifamily real estate tends to drop in price. But, at the same time, more renters need a place to stay, or more importantly, an affordable place to stay, making multifamily apartments their go-to option. If apartment investing has ever interested you before, Jake Stanziano and Gino Barbaro make a strong argument why now may be the perfect time to get into the industry. If you’re feeling deja vu, don’t worry, Jake and Gino have been on the BiggerPockets Podcast multiple times before. Each time they come on they bring new lessons, new deals, and a lot more units under their belt. Only a decade or so ago, Jake and Gino were busting their humps working at jobs and businesses that didn’t fulfill them. It took them a year and a half to buy their first deal, and now, they’re sitting on $175M worth of multifamily. That’s quite a lot of deals in just a decade. Jake and Gino drop some gems in this episode, specifically on why 2022 may be a smart time to start investing, how to develop your “buy right” criteria, and preparing your exit strategies so you can build wealth, not just get rich once. They’ve learned a lot of multifamily investing lessons the hard way, so next time you’re presented with a killer deal, you don’t have to double down on their mistakes. In This Episode We Cover: Why you DON’T need to raise outside money to tackle big multifamily deals How to hire the right people and get employees invested in your properties (literally) The “buy right” framework and three pillars of real estate that every investor must understand Why exit strategies are the most crucial part of investing and how to define yours Managing properties the right way and how good property management can make or break a deal The “conveyor belt” acquisition system that will fly deals your way (even when you’re not working) And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts David's BiggerPockets Profile Dave's BiggerPockets Profile David's Instagram Dave's Instagram Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Rob's BiggerPockets Profile BiggerPockets Podcast 182 BiggerPockets Podcast 266 Pizza Owner to 1,500 Units Millionaire Couples Books Mentioned in the Show Small Giants by Bo Burlingham Scaling Up by Verne Harnish The 7 Habits of Highly Effective People by Stephen Covey Connect with Jake and Gino: Jake’s BiggerPockets Profile Jake’s LinkedIn Gino’s Linkedin Jake and Gino’s Facebook Page Jake and Gino’s LinkedIn Jake and Gino’s Website Jake and Gino’s Podcast Jake and Gino’s Instagram Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-632 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

00:53:30

BiggerPockets Real Estate Podcast BiggerNews July: Rich Dad's CPA on How ANY Investor Can Avoid Taxes in 2022 BiggerNews July: Rich Dad's CPA on How A...
Everyone wonders how the rich avoid taxes. To most Americans, it seems like there is some big loophole that only the mega-wealthy know about, leaving average workers strapped with a large tax bill. Are the ultra-wealthy cheating the tax code, or are they onto something that everyday Americans simply don’t know about? Tom Wheelwright, author of Tax-Free Wealth and Rich Dad’s (Robert Kiyosaki) CPA is here to tell you how to take advantage of these big tax deductions that mystify small-time investors. If you’re already investing in real estate, you’ll know that the tax deductions can be plentiful. You get mortgage interest, depreciation, maintenance, and insurance write-offs. But, even bigger than those, are bonus depreciation and cost segregation, which aren’t complicated tax strategies and can help almost any investor reduce their tax bill significantly. So what can an average investor like you do to get started saving on taxes? Tom walks through the 2022 tax deductions that are decreasing this year, which to take advantage of immediately, how to find the right CPA for you, and which write-offs you may be missing. These tips could reduce your taxes by a significant amount, freeing up much more of your capital for future real estate deals! In This Episode We Cover: The disappearing tax deductions that every investor should take advantage of How the wealthy avoid taxes by buying real estate and getting into debt Renting vs. buying and which makes more sense in 2022 as affordability plummets Using cost segregation and bonus depreciation to wipe out your tax bill How to work with the government, instead of against it, to build wealth faster  The best 2022 real estate tax strategies that small or large real estate investors can implement And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 Listen to All Your Favorite BiggerPockets Podcasts in One Place Subscribe to The “On The Market” YouTube Channel Hear Our Past Interview with Tom on 5 Steps to Eliminate Income Tax Listen to The Rent vs. Buy Debate on This Week’s Episode of On The Market Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts David's BiggerPockets Profile Dave's BiggerPockets Profile David's Instagram Dave's Instagram Books Mentioned in the Show Tax-Free Wealth by Tom Wheelright The Win Win Wealth Strategy by Tom Wheelright Connect with Tom: Tom's Website Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-631 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

00:44:22

BiggerPockets Real Estate Podcast Seeing Greene: Estimating Rent, “Amplifying” Cash Flow, and DIY Investing Seeing Greene: Estimating Rent, “Amplify...
Look up “how to retire early” online and you’ll see some common prescriptions. You’ll hear investors talk about rental properties and index funds more than other options. This is for good reason since even as real estate investors there are ways we can go beyond the scope of buying rentals to amplify our wealth and set ourselves up for early retirement. This is also the exact question that one of our guests asks on this episode of Seeing Greene. If you’ve ever wondered what you should do with your rental property profits after you’ve paid all your bills, whether or not to flip homes in 2022’s housing market, or simply how to get less nervous on the phone, then you’re in the right place. David Greene, host of The BiggerPockets Real Estate Podcast, runs through a series of different Q&A style submissions from new investors, experienced investors, real estate agents, and everyone in between. Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: How to estimate rents on a potential income property and which room count brings in the most money How to find an investor-friendly agent who will give you the local contacts you need Whether to sell a rental property or keep it and cash-on-cash return vs return on equity Live in flips and why flipping houses has gotten so much harder in 2022 Turnkey rental companies and whether or not to use one when investing from abroad How to retire earlier by “amplifying” your rental property’s cash flow And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 David’s YouTube Channel Ask David Your Real Estate Investing Question Listen to All Your Favorite BiggerPockets Podcasts in One Place Estimate Rent Easily with The BiggerPockets Rent Estimator Find an Investor-Friendly Agent Near You How to Retire Early (From Someone Who Did at Age 27) David’s BiggerPockets Profile David's Instagram Books Mentioned in the Show  SKILL by David Greene Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-630 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

01:25:59

BiggerPockets Real Estate Podcast Brandon Turner’s 4-Step “Viral” Formula That’ll Bring You Deals TODAY Brandon Turner’s 4-Step “Viral” Formula...
To real estate investors and real estate investing enthusiasts, Brandon Turner is a household name. Not only has he written one of the most successful real estate investing books ever published (The Book on Rental Property Investing), but he also pioneered the real estate podcasting, social media, and blogging space. Funny to think that only a decade or so ago, this massively successful capital raiser, business founder, and CEO was painting rental properties, just trying to quit his soul-sucking job. So how did Brandon do this so quickly, and what’s going on in the brain (and under the beard) of one of the most successful real estate investors on the planet? Surprisingly, Brandon doesn’t have some secret formula, world-changing analogy, or crystal ball. He simply did what he said he would do—look for deals consistently, make offers whenever he could, and close so he could move on to the next. If this sounds familiar to your situation, but you’re struggling to find success, you may find that his system is a little bit different from yours. Brandon gives valuable insight into the “machine-building” he’s doing over at Open Door Capital, how he’s successfully growing his personal brand, and why real estate investing success should never be a surprise. If you’re a new listener to the show, it won’t be long before you realize why Brandon Turner was (and still is) one of the most beloved voices for building wealth.  In This Episode We Cover: The four levels of entrepreneurialism and how to become the “architect” of your own life Building a personal brand and finding confidence when creating content The skills you need to grow a business and become the CEO The five-point “viral formula” Brandon has used to raise millions of dollars What it takes to be successful and how to create a machine that will find real estate deals for you And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 Listen to All Your Favorite BiggerPockets Podcasts in One Place Subscribe to The “On The Market” YouTube Channel Hear Our Interview with Jason Drees on Exceeding Your Goals Should You Quit Your 9-5 Job to Become a Full-Time Real Estate Investor? 10 Challenges to Seriously Consider BEFORE Quitting Your Day Job David’s BiggerPockets Profile David's Instagram David’s YouTube Channel Ask David Your Real Estate Investing Question Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Rob's BiggerPockets Profile Grab Brandon's FREE Masterclass Purchase Brandon Turner’s Best Selling Books Stay Up-to-Date On Your Favorite Real Estate Podcast BiggerPockets Podcast 543 with Gino Wickman BiggerPockets Podcast 584 with Jonathan Greene BiggerPockets Podcast 264 with Gary Vee David's Newsletter Brandon's Newsletter Invest with Open Door Capital Books Mentioned in the Show Traction by Gino Wickman Rich Dad Poor Dad by Robert Kiyosaki The Crisis Comfort by Michael Easter Long-Distance Real Estate Investing by David Greene Connect with Brandon Brandon's BiggerPockets Profile Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-629 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

01:13:48

BiggerPockets Real Estate Podcast How Being a Quitter Will Make You a Millionaire How Being a Quitter Will Make You a Mill...
Before you quit your job, you’ll need to do a few crucial things. If you haven’t done these yet, but are strongly considering leaving your job soon, Henry Washington and Rob Abasolo may advise you to wait it out a bit longer. Quitting your job is a big decision, especially if your family relies on the income that you’re bringing in. The good news is, that if you’re prepared, you can walk away making much more than you did at your W2. But, if you aren't, you could simply be taking a breather in between jobs, instead of building a life you love and ruling your schedule. Henry and Rob both have eerily similar quitting stories. They both quit during the same month of the same year, making the same salary all while building a real estate investment portfolio in the background. While Henry is more of a multifamily investing man, Rob has taken the short-term rental route to build his wealth. Both men have left the cushy healthcare-provided and retirement-matching lifestyles to build something much bigger not only for themselves but their families and employees. If you’ve wondered “when should I quit my job” or “is now the right time to go full-time into real estate investing?” then this episode is a prerequisite for you. Henry and Rob go over the four things you need to know BEFORE you quit, things to be aware of as a full-time entrepreneur, how to handle taxes and healthcare, and some actionable tips for when you’re finally ready to take the plunge into full-time investing. In This Episode We Cover: Why quitting a high-paying job is probably worth it in the long-run Spousal approval when quitting and why it’s mandatory before you start doing your own thing How much should you have in safety reserves when you quit The “work-life balance” myth and what a day in the life of an entrepreneur really looks like Changing how you invest after you say goodbye to consistent income Mapping out potential scenarios so you know what to expect on the other side of employment And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 David’s YouTube Channel Ask David Your Real Estate Investing Question Listen to All Your Favorite BiggerPockets Podcasts in One Place Subscribe to The “On The Market” YouTube Channel Hear Our Interview with Jason Drees on Exceeding Your Goals Should You Quit Your 9-5 Job to Become a Full-Time Real Estate Investor? 10 Challenges to Seriously Consider BEFORE Quitting Your Day Job Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Rob's BiggerPockets Profile Henry's Instagram Henry's BiggerPockets Profile Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-628 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

00:41:43

BiggerPockets Real Estate Podcast Seeing Greene: The Real Estate Winners and Losers Of The Next Recession Seeing Greene: The Real Estate Winners a...
Everyone has housing market crash predictions. Some media outlets will tell you the sky is falling, real estate is on the edge of a cliff, and the whole world is turning upside down. Meanwhile, investors who made it out alive during the great recession see an oncoming housing correction as an opportunity, not a warning sign. Ever since we saw wild home appreciation in late 2020 and beyond, everyday investors have been asking: when is our time up? David Greene, real estate investing expert (also agent, author, and podcast host), knows that people will get hurt if an economic crash does happen. But, he also knows that investors who have kept their expenses lean, saved when they could, and taken care of their assets, will probably ride the tide just fine. In this episode of Seeing Greene, David will answer one of the most asked questions: where do we go from here? He’ll also touch on whether or not to give up earnest money in a bad deal, when to replace big systems like an HVAC that is on its last legs, how to calculate ARV, and why adjustable-rate mortgages could spell disaster in 2022. Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: What will happen to real estate if the US economy enters a recession Whether or not short-term rentals and vacation rentals are at risk  How to calculate ARV (after repair value) and get estimates without breaking the bank The best exit strategies to have when investing in real estate How much in emergency reserves should you have when buying a rental Adjustable-rate mortgages vs. fixed-rate mortgages and which wins in 2022 And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 David’s YouTube Channel Ask David Your Real Estate Investing Question Listen to All Your Favorite BiggerPockets Podcasts in One Place Subscribe to The “On The Market” YouTube Channel Is The Housing Market About to Collapse? What Investors Need to Know Key Takeaways From the ’08 Recession That Apply Today The Ultimate Guide to Quickly Estimating a Property’s ARV (After Repair Value) David’s BiggerPockets Profile David's Instagram Dave's BiggerPockets Profile Dave's Instagram Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-626 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.