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).

00:58:48

BiggerPockets Real Estate Podcast BiggerNews: The State of Real Estate in 2023 and 3 Ways to Beat a Bear Market BiggerNews: The State of Real Estate in...
Most 2023 housing market predictions sound like this, “The sky is falling! Sell everything! Houses will be worth $1 next year! This is just like 2008!” Look at the track record of those who shill predictions like this. These are the same forecasters who have been predicting a crash will happen at some point over the last ten years. Now, with a whiff of fear in the air, mainstream real estate journalists will do anything they can to convince you we’re having a repeat of 2008. However, this is far from the truth. But how could we forecast the 2023 housing market without data? And where there’s data, there’s Dave Meyer, VP of Data and Analytics at BiggerPockets and host of the On the Market podcast. Dave and his team have recently released “The 2023 State of Real Estate Investing Report,” which gives all the housing market data you need to invest successfully in 2023. In it, Dave shares how the 2022 housing market flipped once the Fed raised rates, how supply and demand have been affected, and what we can expect for 2023. Dave will also go over the three investing strategies he feels are more appropriate for investing in 2023, including a completely passive way to invest, a cash flow and appreciation combo, and how buyers can take advantage of this market to get deals at a steep discount. While we can’t predict the future, we can give you our best insight into what you can do to build wealth in 2023. So turn off the mainstream fear forecasting and tune into real news designed to make you richer! In This Episode We Cover: Why 2023 is not a “normal” housing market and the details leading up to today’s state The “levers” that affect home prices and why 2023 is NOT the same as 2008 Seller’s vs. buyer’s markets and where prices are most expected to dip Homebuyer demand and how unaffordability has caused most buyers to sit on their hands Mortgage rate increases and how the Fed is using high rates to combat inflation The three strategies that work in today’s housing market and how to invest while others sit on the sidelines 2023 housing market predictions and when we could potentially see home prices bottom 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 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 Books Mentioned in this Episode Real Estate by the Numbers by J Scott and Dave Meyer Real Estate Note Investing by Dave Van Horn Connect with Dave: Dave's BiggerPockets Profile Dave's Instagram “On the Market” Podcast “On The Market” YouTube Channel Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-718 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.

00:42:25

BiggerPockets Real Estate Podcast Seeing Greene: Hoarder Houses and Investing Tips for Late Starters Seeing Greene: Hoarder Houses and Invest...
Hoarder houses, hidden tax benefits, and how to invest when getting a late start—it’s all answered on this episode of Seeing Greene. We’re back, and David has brought some new questions never answered before on the show. This time, we’ll touch on some sticky situations, like creative ways to buy a hoarder house and whether investing in a tricky renovation is even worth the potential equity. We also hear about David’s secret system for getting contractors to always show up on time and get the job done, no matter what! Not only those topics, but we also have some questions and answers that fluctuate with the market cycles. David will hit on the advantages of flipping vs. BRRRR-ing a property, the best real estate exit strategy to go from active to passive income, and what investors who got a late start can do now to get ahead. This episode has something for EVERY level of investor, from beginners who need to get into their first rental to investors looking to turn their rental properties into lower tax bills. So stick around if you’re investing or trying to invest in 2023! 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: Flipping vs. BRRRRing and when selling beats holding a home The best way to start investing that’s easily repeatable and doesn’t require much cash Dealing with difficult contractors and what you can do to ensure they show up on time every day Real estate exit strategies and how to sell a rental without suffering a massive tax burden The hidden real estate tax advantages that most investors overlook Advice for late starters who want to invest in real estate and whether equity or cash flow is worth chasing 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 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 Learn More About the Short-Term Rental Tax “Loophole” 5 Tips to Help Investors Handle Hoarder House Situations 3 Exit Strategies You Need to Have When Investing in Real Estate Books Mentioned in this Episode Long-Distance Real Estate Investing by David Greene Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-717 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.

01:03:42

BiggerPockets Real Estate Podcast FIRE by 27 Using the "Chick-Fil-A Rule" of Real Estate FIRE by 27 Using the "Chick-Fil-A Rule"...
Financial independence is something that people spend decades trying to achieve. For the average American worker, this can be a slow grind, saving a few hundred dollars a month, hoping to be financially free at sixty-five so they can finally enjoy retirement. The problem? You spent three or four decades at a job, waiting to do what you want. If you’re going to crack the code to financial freedom, retire early, and live and work on your terms, you might want to follow Greg Cullen’s strategy. Greg has been hustling since he was a teenager. He was bringing in a full-time salary at age sixteen after building a sign-spinning business with over a dozen workers. He always knew the key to success was finding smart ways to make more money. So, when Greg was offered a full-time salary, he turned it down for a sales job with no cap on commissions, allowing him to save money at a far faster rate, and reach financial freedom well before the age of thirty. But Greg didn’t need some colossal empire of cash-flowing rentals. Instead, he’s financially free with only ten units, all of which he bought in under a decade. So how did someone like Greg, without real estate experience, scale his income up so fast? In this episode, you’ll learn what Greg did to purchase properties at lightning speed, the Chick-fil-A rule of real estate you should adopt, and how failing is the only successful way to hit financial freedom early. In This Episode We Cover: Why choosing a commission-based job, with uncapped earnings, beats a salary almost always Sign spinning and creative ways Greg made big money as a teenager The Chick-fil-A real estate rule that all investors should follow when picking a rental property market Common investing hurdles and how to deal with massive burnout when trying to make more money The laws of power that every entrepreneur, investor, or employee must know to level up What to do when real estate partnerships go wrong and turning a stressful situation into a killer deal 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 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 Rob's BiggerPockets Profile Rob's YouTube Rob's Instagram Rob's TikTok Rob's Twitter Hear Our Interview with “The 48 Laws of Power” Author, Robert Greene Books Mentioned in this Episode The Concise 48 Laws Of Power by Robert Greene Rich Dad Poor Dad by Robert Kiyosaki Connect with Greg: Greg's BiggerPockets Profile Greg's YouTube Greg's Instagram Greg's TikTok Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-716 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.

00:53:57

BiggerPockets Real Estate Podcast How to Make 2023 Your Best Year Ever How to Make 2023 Your Best Year Ever
Search “how to make passive income” online, and there’s a good chance you’ll see “real estate investing” on every list. Why? Real estate investing is one of the most time-tested, stable, and repeatable ways for the everyday American to get rich, build wealth, and start collecting passive income every month. But you’ll never get going if you don’t know where to start. So to make your 2023 as successful as ever, David Greene, investor, agent, and host of the BiggerPockets Real Estate Podcast, sat down to walk through the eleven steps it takes to go from onlooker to real estate investor. Real estate is NOT a “get rich quick” type of investment, but it can help you build wealth in a surprisingly short amount of time. Just ask David, who spent years working overtime as a cop, slowly building up a real estate portfolio that eventually led him to hit financial freedom before most people buy their first house! In this episode, David will walk step-by-step through everything a new investor must do to get their first rental property, how to analyze real estate deals once you find them, and how to repeat the system, so your passive income stack grows bigger every year! Want to become a real estate investing expert in 2023? Sign up for BiggerPockets Pro, where you’ll get access to real estate tools and calculators, bootcamps for any investor, lease agreement packages for all fifty states, unlimited webinar replays, and exclusive videos. Start the new year off right by upgrading to BiggerPockets Pro, and use code “NEWYEAR” at checkout for a special discount!  In This Episode We Cover: How to make 2023 your best real estate investing year EVER  David’s slow start and going from almost giving up to financial freedom in only a few years How to analyze a real estate deal from start to finish (with a LIVE example) The 11 KEYS to success when starting in rental property investing How to find real estate deals in ANY market using the LAPS funnel Setting goals and why so many people fall short of their new year’s resolutions Using BiggerPockets Pro to get your first (or next) real estate deal even faster!  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 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 Sign Up for BiggerPockets Pro and Use Code “NEWYEAR” for a Special Discount Rental Property Calculator Rent Estimator Pro-Exclusive Videos Grab the Best-Selling BiggerPockets Books Get Your Ticket to BPCon 2023!   Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-715 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.

00:42:14

BiggerPockets Real Estate Podcast Seeing Greene: Outsourcing, Retiring with Real Estate, & Investing in College Seeing Greene: Outsourcing, Retiring wit...
What’s your real estate retirement plan? How should you fund your rentals? And why is today’s housing market so hard to cash flow? These are just some of the questions that regular real estate investors ask themselves. In a high interest rate, low inventory environment like 2023, landlords need to find better deals, use better financing strategies, and look for different ways to profit, to turn their portfolios into passive income-generating machines. Welcome back to a Seeing Greene episode that has questions from all over the nation. Some investors wonder why their cash-on-cash return numbers look so bleak. Others are debating using a HELOC (home equity line of credit) to buy rentals, even as interest rates continue to rise steadily. You'll hear answers to those questions all while David touches on topics around buying for cash flow vs. appreciation, how to buy rental properties while in college, how to find off-market properties, and where to meet private money lenders! 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: Starting a construction company and using this lucrative trade to invest faster Cash-on-cash return and why appreciating markets are crunching down on potential cash flow Single-family vs. multifamily real estate investing and when to favor appreciation over cash flow Using a HELOC to buy rental properties vs. saving up your cash for a down payment Investing while in college and how to get approved for a mortgage even if you don’t have full-time income Where to find off-market real estate deals and reach motivated sellers 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 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 Ask David Your Real Estate Investing Question Amy Mahjoory's Masterclass on Private Lending Part 1 Amy Mahjoory's Masterclass on Private Lending Part 2 Amy Mahjoory's Masterclass on Private Lending Part 3 Amy Mahjoory's Masterclass on Private Lending Part 4 How to Calculate Cash-on-Cash Return Learn More About David’s Full Real Estate Team David's BiggerPockets Profile David's Instagram David’s YouTube Channel Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-714 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.

01:06:06

BiggerPockets Real Estate Podcast The Real Life Top Gun’s Advice to Become ELITE at Anything The Real Life Top Gun’s Advice to Become...
Chances are you’ve seen the movie Top Gun before. This exhilarating film showcased the almost unbelievably intense reality of being an elite pilot in the military. And behind many of those awe-inspiring stunts and scenes was John Foley, Blue Angels pilot, entrepreneur, real estate investor, public speaker, and all-around inspiring human being. John has performed these death-defying stunts for years and successfully became the one percent of the one percent of pilots. His key to success? Failing hard. As soon as John saw the Blue Angels perform as a child, he dreamed of doing the same. It took him eighteen years to accomplish his dream, but it came with a cost. Before hitting his performance peak, John made a flight mistake that could have ended his career and another pilot’s life. Thankfully, this ill fate was avoided, but John still had to live with the consequences of making such a massive mistake. As a result, John reframed and rewired his brain to be better, retain more, keep his composure, and be “glad to be here.” He’s made his way up to the highest level of flying and knows the key to elite success. The surprisingly simple method is laid out in today’s show, as John walks through the five steps he goes through every day to improve his life constantly, always be grateful, and never leave a day to waste. So if you want to push yourself to the next level, accomplish more than you think you’re capable of, and live more life in the moment, tune into this episode! In This Episode We Cover: Knowing your blind spots and why witnessing your weaknesses can boost your skills Why complacency kills and thinking you’re “good enough” can drag you down  The benefits of a debrief and why you always want to know what you did wrong  Finding your “why” and turning it into the driving force behind your success  The “glad to be here” method and why it’s a “wonder drug” for human happiness  How the 1% of any skill set optimize their performance and push others to do the same  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 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 Rob's BiggerPockets Profile Rob's YouTube Rob's Instagram Rob's TikTok Rob's Twitter Navy SEAL Jocko Willink on Embracing Discomfort and Leading Through Extreme Ownership Here’s Why Failure Is NEVER the End of Your Real Estate Journey Book Mentioned in this Episode Fearless Success by John Foley  Connect with John: John's Website John's Instagram John's LinkedIn John's Podcast Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-713 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.