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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

Some would call Terrance Doyle a “baller”. Not because he’s done hundreds of millions of dollars in real estate transactions, or because he has done over 600 flips, or because he helps lead the Tribe of Multifamily Mentors. Terrance played college basketball, which grew into working as an NBA sports agent, garnering him access to famous coaches, players, and executives.Terrance and a couple of his college teammates started a franchise after college, and needed somewhere to park cash. Another teammate helped Terrance buy a foreclosure at a public trustee sale, which he flipped for a sizable profit. This is when he knew that the real money was made in real estate. Between 2008 and 2014, Terrance did over 600 flips, in multiple different areas of the country.As he learnt to build relationships and rapport with buyers, sellers, lenders, and contractors, Terrance started taking on bigger and better deals. He’s done $35,000,000 in transactions since the start of the pandemic and relies on the five basic fundamentals of real estate: know your market, be aggressive, be faster than the competition, have solid lenders, and make sure your ducks are in a row.In This Episode We Cover:The 5 fundamentals of successful real estate investingGoing from NBA agent to full-time real estate professional Finding your competitive edge and knowing where you can add valueHow to invest in a very expensive market (like Denver!)Cap rates, NOI, cash on cash return, and other important metricsHow to run your organization more efficiently, so you can do moreAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelCheck the fulls how notes here: http://biggerpockets.com/show462

It’s daunting to wake up every day and try your best at whatever it is that you do. Maybe it’s your job, maybe it’s real estate, maybe it’s writing a book. When you sit down at your desk, there’s that little voice that says “get another cup of coffee” or “just take a little email break before you start” or “you’re not going to get anything done, who are you kidding?”This is the voice of resistance, and to author Steven Pressfield, it’s a voice that needs to be silenced and controlled at all costs. Steven should know, he wrote the book on fighting resistance, The War of Art, where he talks about how to keep up inspiration, even when there isn’t any to be found. As Steven puts it “an amateur does things when they feel like it, a professional doesn’t care how they feel, they just do it.”This is something many real estate investors struggle with. We want to buy another property, but we get stuck in analysis paralysis, or scared off by some new type of financing, or don’t want to take on another rehab. Professionals don’t let their environment (or their own mind) tell them what they should and shouldn’t do. Professionals do what has to be done.We also talk with Steven about his latest book A Man At Arms and why the ancient world of nobility and strength intrigued him so much. If you’ve seen any of Steven’s films, read any of Steven’s books, or just want to push through to success, you’ll love his take on writing, success, and failure.In This Episode We Cover:How to push past failure, regardless of the line of work you’re inOvercoming the “analysis” phase of any new venture or life dreamHow resistance plays a role in failure for many real estate investorsHow to fight resistance so you can push through to your goalsThe villain on the outside, and the villain within youAnd So Much More!Links from the ShowBiggerPockets PodcastOpen Door CapitalBiggerPockets book storeBrandon's InstagramDavid's InstagramThe 90 Days ChallengeSteven's WebsiteClick here to check the full show notes: https://www.biggerpockets.com/show461

If you’re listening to the BiggerPockets podcast, you know that the only way to reach financial success is to climb the corporate ladder, right? Nope! Yet, many people still believe that the only way for them to get rich is by going above and beyond for a job, only to be let go when the company is sold or merged. This is exactly what Ayoka Moss and Robert Charles thought, until they were put in a situation where entrepreneurialism and real estate was the only option.Ayoka had serious drive, especially after reading Rich Dad Poor Dad (a favorite of the BP community). Robert, on the other hand, was working as hard as he could, selling cars, breaking sales records, but once he was let go due to his company being bought out, he had open ears for Ayoka’s proposal. Ayoka and Robert decided to start wholesaling real estate, and had 6 failed deals before they finally found themselves making a profit. Once the money came in, they knew they had to do whatever it takes to reach success in real estate.Now, only a couple years later, Ayoka and Robert are living rent free, with 20 units, and 35 deals done! That’s some serious change when compared to their old W2 lifestyles. Ayoka and Robert go through how they got deals done, found mentors, and most importantly, changed mindsets to tackle what really matters.In This Episode We Cover:How real estate wholesaling worksWhy the corporate lifestyle doesn’t last forever for most peopleUnderstanding real estate before you jump in head first “Un-Labelling” yourself so you can accomplish anythingBalancing wholesale fees with cash flowing rental properties Finding mentors and providing value so they trust youAnd SO much more!Links from the ShowBiggerPockets ForumsGrant CardoneBreakfast Club: Mark Whitten Explains How Easy It Is To Build Wealth With Real EstateLinkedinAmwayHertzTy Flip Man Taylor Shares How He's Created Multiple Millionires and Many 6 Figure EarnersReal Estate DisruptorsPropStreamZillowHomevestorsGrant CardoneBiggerPockets Podcast 452: Landing Incredible Deals Using This “Scary” Technique with Steve TrangSteve TrangYahoo FinanceCheck the full show notes here: https://www.biggerpockets.com/show460

Have you ever been in a conversation where someone has had to ask you to repeat something multiple times? It’sfrustrating when you’re trying to tell someone something and they just won’t listen, but what about all the times you’ve been distracted in a conversation? There are a handful of reasons why humans aren’t great at listening, but the benefits to becoming a true listener are off the charts. Better connections, more trust, and happier relationships just to tout a few.In her book, Listen Like You Mean It, Ximena Vengoechea talks about why listening is so important, and why we often get it wrong. Being a great listener is almost like having a super-power, you’ll be able to tell what a person wants and needs faster and more accurately. This can help in almost any business, but especially in a people-first business like real estate when you’re constantly talking to tenants, management, sellers, buyers, or agents.Ximena goes through the 3 qualities that are most needed when becoming a great listener and how you can put yourself into “listening mode”. She also walks through how to have difficult conversations or conversations with people who aren’t the best listeners, plus what you can do to make sure that the person talking to you really feels heard. This isn’t just a crucial trait for anyone in real estate, but for anyone who wants successful relationships with the ones they love.In This Episode We Cover:How user research prompted Ximena to write about listeningAsking good questions that help people open up moreCutting out the distractions and being present and mindful in a conversation Why attention tends to waver in day-to-day conversationsThe 3 most important qualities you can adopt to become a better listenerHow to be more extraverted in conversationsAnd So Much More!Links from the ShowBiggerPockets PodcastOpen Door CapitalBiggerPockets book storeBrandon's InstagramDavid's InstagramClick here to check the full show notes: https://www.biggerpockets.com/show459

Every real estate investor knows that things don’t always go as well as we’d like. What happens when you’re hit with a $16,000 bill to fix a sewer, or when 20 of your tenants call you all at once with problems? Some things, like those examples, make active real estate investors envy passive investors. This is why Tamar Hermes decided to go on a more passive route for real estate investing. Tamar started at age 28, working as an executive in the television industry. She realized that she was trading her time for money, and without her job, she wouldn’t be able to pay her bills. So, she put 10% down on a duplex and started house hacking. Over time she bought more and more duplexes, some even out of her 401(k). She was an aspiring landlord, but after being hit with the situations above, she decided to sell all her units in Los Angeles and put her money into more passive income streams.Now she’s invested in syndications, like Brandon’s Open Door Capital to be exact. This gives her far more freedom to pursue her passions in life, without having to worry about those 2 A.M. toilet calls. Tamar refers to herself as a very cautious investor, and that may be why she feels far more diversified with passive investing than active investing.She also talks through “finding your tribe” and how Gobundance has helped her meet friends and partners within the real estate space. This doesn’t mean you need to go out and find a group, but having friends and allies within your certain niche can help move you miles ahead of the competition!In This Episode We Cover:Using house hacking as a way to fuel your real estate investing The difference between passive and active real estate investingFinding cash flow AND appreciation when looking for rental properties“Upgrading your investing” and growing your investor mindsetRecourse vs non-recourse loansFinding quality agents, certified financial planners, and other partnersAnd SO much more!Links from the ShowBiggerPockets ForumsOpen Door CapitalTravel Nurse HousingGrant CardoneGoBundanceBiggerPockets BookstoreBiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan SullivanJosh Dorkin Check the full show notes here: http://biggerpockets.com/show458

Some people are born into wealth, but none are born into success. Success needs to be earned, through pain, hard work, and perseverance.Patrick Bet-David came to the United States during the Iranian Revolution of 1978, after already being a refugee in Germany. Patrick served in the U.S. Army and prided himself on his ability to party, but after a family health emergency, he decided enough was enough, and he became the hard-working, driven man he is today.Now, a successful businessman, media producer, best selling author, and CEO, Patrick has a lot of wisdom to share for young and aspiring businesspeople. One of his biggest lessons: don’t waste your pain. Patrick shows how the best of the best in business, sports, or any other field are consistently putting themselves in positions where they have to fight to be the best. Patrick argues that even if you’re the best basketball player in your high school, once you go to college you may be at the bottom of the list, and once you become the best in college, you may be stuck again at the bottom of the professional leagues. This means you have to constantly change, adapt, and improve yourself to become the best of the best.We also talk about Patrick’s book, Your Next Five Moves and how people who are masters in their skillset are thinking at least five moves ahead of their competition. Want to buy a house? What are the next 5-10 moves you could make right now to get that done. Most people do a single step, stop because it’s too hard, and leave it at that. If you want to be the best of the best, you need to think bigger and understand the importance of the sequencing of those steps.In This Episode We Cover:Patrick’s journey from refugee to multi-million dollar business owner Pushing yourself to perform at the highest level you possibly canGiving your children values instead of material giftsThinking five steps ahead of yourself and the competitionGoing through a “Personal Identity Audit” and learning to accept yourselfEntrepreneurship vs IntrapreneurshipAnd So Much More!Links from the ShowBiggerPockets PodcastBiggerPockets book storeBrandon's InstagramDavid's InstagramYour Next Five Moves WebsiteCheck the full show notes here: http://biggerpockets.com/show457

Anything over 100 units tends to scare many investors, especially rookie investors. How do you even get to 100 units when it’s already challenging enough to get one? That answer is simple: stack them slowly over time. That’s exactly what today’s guest, Erika Sleger, did. Erika heard about house hacking from a lecture in college, so once she graduated she decided to buy a fourplex, live in one unit, and rent out the others.She learnt some valuable skills from that first fourplex and later sold it for a nice profit, 1031 exchanged it into an 18 unit, and started collecting rent. From there, she used her equity on the 18 unit to buy a 64 unit. Another 16 units here, some more units there, and before she knew it Erika had over 120 rental units. She acquired all of these properties through 1031 exchanges and pulling cash out via refinances for down payments.Managing over 100 units isn’t easy, it took Erika a while to find management that worked, and she was still managing her managers. Even with the best due diligence, Erika talks through the challenges of filling and managing so many units. That’s why Erika sold her multifamily properties and moved her money into commercial real estate.Now she owns “amazon-proof” commercial spaces for coffee shops, a daycare center, and even a car maintenance shop. These leases are triple net, and give her the flexibility to move wherever she wants in the world, without having to over-manage a property manager. This is what “the stack” done correctly looks like!In This Episode We Cover:House hacking to secure your first rental propertyUsing 1031 exchanges to acquire more properties with no capital gains taxesBuying LARGE multifamily properties and setting up managementThe importance of due diligence when buying multifamily and commercialTriple net leases and the benefits of commercial buildingsAnd SO much more!Links from the ShowBiggerPockets ForumsTony RobbinsWalgreensCVSStarbucksAmazonBiggerPockets Podcast 253: Recession-Resistant Investing & the Benefits of Buying Shopping Centers with David PuchiBiggerPockets Podcast 363: How to Work (Way) Less but Accomplish (Way) More in 2020 with Michael HyattCheck the full show notes here: http://biggerpockets.com/show456

You’ve probably heard of The Breakfast Club, the morning radio show in over 90 markets that covers everything from hip hop culture, to celebrity gossip, to politics and more. If you've listened, you may recognize DJ Envy’s voice. He’s here today with his partner Cesar Pina, to talk real estate, seminars, and business.DJ Envy grew up in Queens, New York, and was neighbors with a successful DJ. After he heard how much money DJs were making in the city, he decided to start DJ-ing himself, and began releasing mixtapes. As his success grew, he started working for a radio station and landed a morning show, which later became known as The Breakfast Club.After buying his first house and later selling it due to a long commute, Envy walked away with around $80,000. He was hooked, and knew that real estate was a long-term way for him to build his wealth and create success for him and his family. He started out buying a house every year and selling it a year later, then bought some homes in Detroit for $15,000 that sold for over $260,000! Envy wanted to get more into real estate, so he was introduced to Cesar.Cesar was serving time in prison when he first learnt about real estate investing. Once he was released, he decided to jump in. He bought single family homes, then small multifamily homes, then went on to commercial buildings. Now, heowns more than 1,600 units and flips anywhere from 60 to 80 houses per year! His new book, Flipping Keys, comes out later this month.Cesar and Envy became an unstoppable duo, and now they're teaching others how they too can buy rentals and flip houses. They see this as a way to serve their community and let those who may be unaware of real estate investing have a chance at success and financial freedom.In This Episode We Cover:How DJ Envy started buying and flipping homes Buying homes under market value to make high profitsWhy house hacking is the best way to get started in real estateBuying in Detroit during the early days of the recession How to use other people’s money (OPM) to fund your dealsWhy most real estate seminars take more than they give to attendeesAnd So Much More!Links from the ShowBiggerPockets PodcastBiggerPockets book storeBrandon's InstagramDavid's InstagramGrant Cardone on Multifamily Investing and Why You Should Never Buy a House!Click here to check the full show notes: https://www.biggerpockets.com/show455

Retiring via passive income is why most people get into real estate, but rarely does someone accomplish that goal within just two years! Rachel Richards, real estate investor, agent, and author of Money Honey shares her story of aggressive real estate acquisition. All purchased, by the way, with at least 20% down!While her friends in high school may have been reading for fun, Rachel was reading Rich Dad Poor Dad and trying to find the best way to become financially free. After she graduated from college she took jobs where she felt underappreciated and at some points, humiliated. She realized that this was not the path she would go down, and started investing shortly after in 2017. By 2018, Rachel and her husband had acquired 38 doors. Yes, you heard that right, 38 doors in under two years!These rental properties allowed Rachel and her husband to retire, as they were making six-figure incomes solely from their properties alone. This didn’t mean two years in she was still a rookie. Far from it actually. Rachel had to systematize her rental properties as much as she could within those two years so she could manage them long distance without having huge headaches along the way.Rachel shares some interesting stories, from turning a duplex into a short-term boarding home, to catching her property managers stealing over $6,000 from her. She’s learnt a lot and put her knowledge into her books Money Honey and Passive Income, Aggressive Retirement, both of which may help you get to where she’s at now!In This Episode We Cover:Understanding how important financial independence is to your lifeDismissing limiting beliefs that you can’t or shouldn’t do somethingSeller concessions and how you can use them to get more money at closing Why being too frugal may lead you to lose more money in the long runSystematizing your long distance real estate investingAnd SO much more!Links from the ShowBiggerPockets ForumsBe a guest to the podcastCutco CutleryBiggerPockets Podcast 416: 29-Year Old Making Nearly $1M in Passive Real Estate Income (3 Years In!) with Matt OnofrioBiggerPockets Podcast 418: 14 Deals in 16 Months: How Alex Camacho Found his Mastery in Deal FindingBiggerPockets Podcast 320: Hands-On BRRRR Investing and DIY Secrets with Instagram Star Brittany ArnasonBiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl YarberCheck the full show notes here: http://biggerpockets.com/show454

We’re taking a bit of a detour from our regular programming to answer some live questions on real estate mindset! Brandon and David take live questions from investors across the nation on some of the most hard-hitting/commonly contemplated real estate questions and topics such as…Is perceived “risk” deterring you from making strong financial decisions?How do you keep the fire going as an agent and investor when you get rejected?When should you allow team members to take on your roles and processes?What to do to get over the fear of partnerships?How do you balance ambition and being content with your success?How to find inspiration in other people's success?What to do when there is SO much opportunity but you don’t know what to choose?And More!Brandon and David spend some time answering all of the above questions with life lessons they’ve learned in their investing careers. The solution to the problem isn’t always cut and dry, but almost all of these questions come up in a real estate investor’s career, one way or another.If you didn’t get your question answered in this episode, stay tuned as we may plan to do another Live Q&A in the future!In This Episode We Cover:Answers to the top real estate “mindset” questions Finding your fire and running towards itLetting go of the “I have to do everything” mentalityFocusing on one thing, doing a great job, and letting go of the restGetting your spouse on board for real estate investing/financial freedomStaying content and grounded while also striving for greater thingsAnd So Much More!Links from the ShowBiggerPockets PodcastBiggerPockets book storeBiggerPockets ForumsBiggerPockets 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/show453

Steve Trang is all over social media, he runs a real estate brokerage, a sales training business, and a title company, but he didn’t start out as a real estate professional. Steve was actually an engineer at Intel before he made the leap to become an agent. As luck would have it, Steve got in right as the market was about to tank in 2007/2008. Did this stop him from finding success? Of course not!Steve was interested in real estate, and after finding out what agents did for a living, he knew he needed to make a career switch. He left his corporate job and headed into real estate, trying to get any leads he could as an agent. His prior employer, Intel, told him that he was welcomed back if he ever needed a job, but when he tried to come back a couple years later, they didn’t have a position available for him. He knew the bridge was burnt, and it was time for him to go full throttle on real estate.Now, a decade or so later, Steve is teaching his tips and tricks to aspiring agents, wholesalers, and de al finders alike. He has a very specific hiring process, and will only start to evaluate a candidate that fits into his time-tested requirements. This helps him weed out potential employees and keep only the serious ones around.Steve gives some pointers on the best cold calling tips, the common mistakes that newbies make, and how to mitigate rejection when a cold call goes sour. If you’re afraid to cold call or afraid of being rejected in general during real estate prospecting, Steve talks through how he uses rejection to hit the successful metrics he needs!In This Episode We Cover:What type of person should be a real estate agent?Knowing that real estate is a long-term success game, not an overnight winUsing PPC (pay per click), direct mail, and cold calling to get leadsHow to hire employees that want success, not just a paycheckHaving regular, but efficient meetings with your teamThe top cold calling tips for those who are prospectingWhat to do if you’re afraid to cold call (or afraid of being rejected)And SO much more!Links from the ShowBiggerPockets ForumsIntelWells FargoBiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan SullivanJotFormBiggerPockets LAPS FunnelPropstreamBatch LeadsSkipFastGrant CardoneBiggerPockets PublishingCheck the full show notes here: biggerpockets.com/show452

Does it ever seem like working overtime is a competition? We often see people bragging about how they work 60 hour weeks, work on weekends, or spend the most time at the office or in front of their computer. Does this constant overworking actually accomplish something or is it more of a chest-beating competition?Michael Hyatt argues that working crazy hours rarely does anything for our productivity, and if anything, can make our work sluggish and dull. He should know, in the beginning of the COVID-19 pandemic as teams were working more than ever from home, Michael decided to do the opposite. Michael lowered his (and his team’s) working hours from 40 hours a week, to 30 hours a week. The result? A profit increase of nearly 100% and company-wide productivity boost.Not only does your work quality benefit, but so do your relationships, your health, and your outlook on life when you are off of the “grind mode”. Michael believes this so much that he wrote a book about it. Win at Work and Succeed at Lifegoes through what Michael calls the “double win”: winning at life and work, with no tradeoffs!Michael lists a handful of ways you can instantly improve your work/life balance. Tips on sleep, nutrition, and getting your “daily big 3” done so you can accomplish goals that matter, instead of just being productive. If you ever feel like a workaholic, these tips will help you align back to a productive yet enjoyable schedule.In This Episode We Cover:Fighting the “cult of overwork” especially when working becomes a bragging rightHow to keep your business running at full speed while having time for your familyThe importance of putting up “hard boundaries” so your day can be respectedIdentifying the “big 3” tasks that you need to get done everydayHow to implement “double wins” in your lifeKnowing which work is important and which work can be put on holdAnd So Much More! Links from the ShowBiggerPockets PodcastBiggerPockets book storeBrandon's InstagramDavid's InstagramBiggerPockets Podcast 363: How to Work (Way) Less but Accomplish (Way) More in 2020 with Michael HyattClick here to check the full show notes: https://www.biggerpockets.com/show451

First-time home buyer? At some point, all of us were. How do you make sure you’re getting a great deal, how should you pay for it, and what can you do to make sure it’s a purchase that will help you grow your wealth. In today’s episode, you’ll hear from Scott Trench and Mindy Jensen, hosts of the BiggerPockets Money Show. Their new book, First-Time Home Buyer, shows how to buy your first property in a way that sets you up for long-term success.Most people see their primary home as an investment, but that isn’t usually the truth. Housing is a cost, and like many costs in life, we should try to minimize it when we can. Having a lower housing cost can allow you to invest more of your money, build up safety reserves for repairs, and have the financial bandwidth to live with less stress. Scott and Mindy debate cash flow vs appreciation, how much you should put down on your home, and what kind of liquidity position you need to be in to find success in your purchase and future endeavors. Even if you’re not looking to build a rental empire, this is a fantastic book for anyone who is looking into buying for the first time. Don’t know about equity, title insurance, or other real estate terms? No problem! First-Time Home Buyer has you covered. In This Episode We Cover:What will 2021 hold for real estate investors and first-time home buyersIs appreciation or cash flow a better metric to measureHow to have a primary residence that sets you up for long term wealth The 5 steps to finding a great deal on a primary residence Looking at the market even when you’re not ready to buyWhat people get wrong when they buy a homeAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets MoneyBiggerPockets Money Podcast 165: How ‘Finance Ninja” Daniel J. Mills Started at $30k a Year and Grew a US Rental Empire from JapanCheck the full show notes here: http://biggerpockets.com/show450

We’ve known for a long time that humans aren’t great at multitasking. Once distracted, our brains find it hard to let go of the new information we’ve just learnt or seen. This is why the constant onslaught of emails, messages, texts, and phone calls could be killing our productivity and creativity. Cal Newport, author of A World Without Email, has seen this first hand.Cal discusses something he likes to call “Hyperactive Hivemind Workflow”, which is essentially what happens to our brains when we’re constantly being nudged by electronic messages. When you’ve got your head down and are working hard on an important project, just a simple glance at an email can spin everything out of whack.Here’s the thing, this is happening to all of us, all the time. We are constantly monitoring our emails and messages, and by the mid afternoon, we’re out of energy. We’ve exhausted all of our cognitive resources. But isn’t it productive to check emails and respond to them quickly throughout the day? This is what Cal refers to as the “fool’s gold of busyness”.Luckily, there are some ways to get us into a more productive state, without having a barrage of emails in our inbox. Cal talks about efficient meetings, Kanban boards, restricting ad hoc communication, having office hours, and being intentional with your time and attention. While these small email responses may seem like just a minute here or a minute there, they actually eat up a huge part of our work life.In This Episode We Cover:Why we need to limit our intake of email, messages, and other communication throughout the dayGetting your team to be less ad hoc about communication and more intentionalHaving a “process and procedure first” mindset when starting a businessUnderstanding what the “vital tasks” are in your businessKnowing your cognizant footprint and having intentional attentionAnd So Much More!Links from the ShowBiggerPockets PodcastBiggerPockets book storeBrandon's InstagramDavid's InstagramBiggerPockets Podcast 330: How to Ditch Distractions and Get WAY More Done With Cal NewportClick here to check the full show notes: https://www.biggerpockets.com/show449