BiggerPockets Podcast 421: Family Over Everything: How Life Forced BP Founder Joshua Dorkin to Reevaluate His Choices
Play
Many avid members of the BiggerPockets forum, listeners to the podcast, or readers of our articles may know our founder, Joshua Dorkin. What you may not know is Joshua’s journey in founding, building, scaling, and finally leaving BiggerPockets. It was a hard decision for Joshua to leave, but thanks to his amazing team, he was able to (even during a time of tribulation in his personal life). You’ll hear how Joshua was cranking out 100 hour weeks, working 7 straight days, for the first 6 years of BiggerPocket’s existence. He later transitioned to building a team, starting with the BiggerPocket Podcast’s very own host, Brandon Turner. This later snowballed into more hirings, with the BiggerPockets growing faster and faster, and being able to scale larger and larger. Just at the time when things were starting to go from big to bigger, Joshua had to take time off to take care of his daughter’s medical emergency. This caused a shift in Joshua’s reality, so he dropped everything. This keynote speech goes deep into what really matters most. It’s not money, it’s not success, but it’s something that matters even more: fulfillment and family. Check out the video on our Youtube channel, and be sure to give Joshua a follow on Twitter at @jrdorkin.
Real Estate Rookie
Real Estate Rookie
BiggerPockets
0 to 7 Deals in a Year Using Other People's Money with Andres Bernal
Andres Bernal came to America to play tennis with only $500 in his pocket. He thought that professional tennis is what his life would end up revolving around. After playing for 2 years and being burnt out from work, Andres decided to take some advice from his family members: start buying real estate. After buying his primary residence, he started looking into multi-family homes that could make him some cash flow each month. He later put down 3.5% with an FHA loan to purchase a triplex, and rented out the bottom 2 units while he lived in the upper 3rd unit. He sold his condo, had some cash, and was ready to start investing more. Andres had some pretty creative ways of getting funding for his real estate deals. He started calling every contact in his phone, asking if they were interested in real estate, and if they were, he packaged up a deal for them. The trade? He does the work and the analysis, they do the financing. These types of partnerships have worked well for Andres and they can work for other rookies as well. His advice is to test the partnership, build the trust, and use the BiggerPockets Rental Property Calculator! The rest will fall into place. In This Episode We Cover: * Why FHA loans are a great first financing tool for rookie investors * Calculating out your “worst case scenarios” on houses * How to treat tenants so they want to stay (and will respect your home) * Why investors need to solve a problem for tenants (especially those that cause you the most trouble) * Finding local investors and investors within your existing circles * The profitability of student housing as an investment * Using social media to grow your existing network * How to set expectations for contractors * And SO much more! Links from the Show * Real Estate Rookie Facebook Group * BiggerPockets Bookstore * BiggerPockets Forums * BiggerPockets Podcast * BiggerPockets Meetups * Find a Real Estate Agent * Brandon Turner Check the full show notes here: http://biggerpockets.com/rookie47
52 min
BiggerPockets Business Podcast
BiggerPockets Business Podcast
BiggerPockets
91: How Businesses Get Sold for Millions with Chris Younger
If you’re a new entrepreneur, it may seem like a dream to sell a business for millions of dollars. People like Chris Younger, make that dream a reality. Chris founded Class VI Partners, an investment bank that helps entrepreneurs plan and prepare businesses for sale. Chris will be the first to admit that selling isn’t an easy process, it takes time, patience, and a lot of documentation. Chris compares selling your business to running a marathon: you need to be in it for the long haul to finish strong. He helps owners reach a price point that works for their future, and helps create the processes around selling that enable a new owner to carry the business to new heights. For many owners, success in selling comes from doing the hard work upfront, not putting it off for your future self (and employees) to deal with. So why would an entrepreneur want to sell? Maybe it's personal timing and they feel like they’ve given the business as much as they possibly can. It also could be business timing, the business may be seeking a new change in direction. Or it could be buying timing, a buyer comes in with the right offer, the right ability, and makes the sale. Whatever a reason for selling a business, a business owner needs to be prepared for their business to sell at some point. So even if you’re just starting out, hearing words of wisdom from Chris may net you a few more million dollars! Check the full show notes here: http://biggerpockets.com/bizshow91
55 min
Real Estate & Financial Independence Podcast
Real Estate & Financial Independence Podcast
Chad Coach Carson
#149 - Under Contract How a New Investor Found Tied Up His First Deal
Episode #149 - A new investor named Scott Palmer just got his first rental property under contract! This is his 3rd coaching call with Chad where you get to look over Coach's shoulders and listen to their discussion about how Scott found, analyzed, and put this deal under contract. You'll also learn some of Scott's concerns about the next steps with due diligence, financing, and closing and Chad's feedback to help him. Free Webinar with Coach "My 5-Step Process to Confidently Close on Investment Properties" - http://coachcarson.com/webinar Show notes: https://www.coachcarson.com/ep149-under-contract/ 🏘️REAL ESTATE IN YOUR RETIREMENT ACCOUNT? This is a strategy I've used successfully for years, but you've got to make sure you have a custodian that specializes in this type of investment. I personally use and highly recommend my friends at American IRA. You can watch a short video, get an information guide, or set-up a free consultation at https://coachcarson.com/americanIRA __________ 🎧SUBSCRIBE to the podcast for more episodes about how to achieve financial independence and do what matters using real estate investing! https://coachcarson.com/podcast ---------------- ▶️WATCH my YouTube channel - Coach Carson TV - for tutorials, tips, strategies, and interviews https://www.youtube.com/user/CoachChadCarson?sub_confirmation=1 ---------------- 📋 GET MY FREE REAL ESTATE INVESTOR TOOLKIT https://coachcarson.com/reitoolkit ---------------- FOLLOW ME ON INSTAGRAM 📸 https://www.instagram.com/coachcarson1/ ---------------- READ MY BOOK ON RETIRING EARLY 📚 https://www.coachcarson.com/retirementbook ---------------- 👋👋 SAY HI ON SOCIAL https://www.facebook.com/coachchadcarson/ https://twitter.com/CoachChadCarson
42 min
Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 249: Increase Your NOI Through Cell Tower Investing – With Hugh Odom
The most successful real estate investors find creative ways to increase their NOI either by adding amenities for residents or reducing expenses. But there is a new opportunity for property owners that you may not be aware of. What if you could earn more money by leasing out a portion of your building for a 5G cell phone tower? Hugh Odom is the Founder and President of Vertical Consultants, a telecom consulting firm that has advised major corporations such as Walmart, McDonald’s and Disney, as well as government institutions like the Department of Veterans Affairs, the New York Housing Authority and the United States Postal Service. Hugh served as an attorney for AT&T for 11-plus years, and today, he leverages his expertise in the telecom industry to help real estate investors earn additional income through cell tower leases. On this episode of Apartment Building Investing, Hugh joins cohost Garrett Lynch and I to explain why the cell tower industry is like oil 100 years ago, discussing what is driving the need for more cell towers and how lucrative a cell tower lease can be for investors. Hugh shares the do’s and don’ts of negotiating a cell tower lease, describing how it differs from a real estate transaction and what Hugh’s team does to help property owners with the process. Listen in to understand why cell tower investing is a safe bet for the long term and learn how YOU can take advantage of the opportunity to be a cell tower landlord! Key Takeaways Why the cell tower industry is like oil 100 years ago * Long-term agreements to lease land from property owners * Cell companies reach out if property in right location What is driving the need for more cell towers * 5G technology requires additional infrastructure * Densification makes service faster, more instantaneous * From 400K to 1.5M cell sites by 2025 The do’s and don’ts of negotiating a cell tower lease * Don’t treat as real estate transaction (e.g.: market rate) * Do determine value provider will get from space How lucrative a cell tower lease agreement can be for investors * Typically increases value of property by $1M * Renegotiate contract as provider’s revenue from site goes up How Vertical Consultants helps property owners * Level playing field (understand value you’re offering) * Source leases for large commercial property owners How to take advantage of this opportunity in cell towers * Buy properties with existing towers or rights to cell towers * Bring experts in to renegotiate lease How 5G towers differ visually from traditional cell towers * Traditional tower = 150 feet tall, up to 5K ft2 * Traditional rooftop antenna up to 500 ft2 * 5G tower = 50 ft2 with small antenna box The opportunity to become an operator of cell towers * Pay property owners in dead spots for right to lease * Buy for long-term cashflow or flip Why cell tower investing is a safe bet for the long term * Similar to highway system (infrastructure, not technology) * Change out equipment as tech improves Who Hugh serves through Vertical Consultants * Property owners with existing agreements * Owners who’ve been approached by cell company * Hotels, self-storage and shopping center developers Connect with Hugh Odom Vertical Consultants Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program American Tower Crown Castle SBA Communications Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
41 min
The Stacking Benjamins Show
The Stacking Benjamins Show
StackingBenjamins.com / Westwood One Podcast Network
Peering Into This Year's Travelscope (with Joseph Rosendo)
Today we welcome the two-time Emmy award-winning host of Travelscope, Joseph Rosendo to the show to share travel tips as we dust off the suitcases and hopefully get ready to hit the road during the latter part of the year. What should we plan to see? Should we try for more or see less? What does he think about travel groups, packing, and learning the language? We'll discuss FOMO, getting to know diverse people, and even having the right mindset on today's show. Plus, anyone who's ever tried to receive an insurance payout knows how much these companies can drag their feet: the tourism and hospitality industry is discovering their pandemic-related claims aren't going the way they'd hoped in many cases. During our headlines, we'll cover what's been going on behind the scenes, and hopefully, leave you with an urge to go recheck your policies for sneaky language from your insurers. During our Haven Life Line, Stacker Steve left us a Stacking Benjamin's BINGO card worth of trigger points, but we didn't let that stop us! Between automatic contributions, NOT getting caught up in a Robinhood rant (only the second time we passed on that opportunity), and pensions - we definitely took the high road on this one. That's not all! Doug shares his own tips on travel points, shares some trivia, and more. It's just another day in the basement! Enjoy!
1 hr 8 min
Get Rich Education
Get Rich Education
Keith Weinhold
328: Why Today’s Hottest Housing Niche Is Build-To-Rent
My housing prediction for the next few years is revealed at the beginning of the show. Learn why higher interest rates mean less housing supply. Learn how to buy new construction income properties as inexpensively as $169K at: www.getricheducation.com/southeast In 2020: Real estate was up 11%, mortgage rates fell from 3.72% down to 2.67%, inflation fell from 2.5% to 1.4%, S&P 500 up 16%, dollar weakened, bitcoin surged 400%+, gold & silver had their best years since 2010, oil down 21%. “Build-To-Rent” (B2R) means that properties are constructed with tenant-occupants, not owner-occupants. Durable finishes are used, like cement hardie board, vinyl plank flooring, and granite countertops. B2R single-family homes as low as $169K (new construction). Duplexes, triplexes, and fourplexes are also offered in Florida and Georgia at: www.getricheducation.com/southeast Tenants in these B2R properties often have incomes of $100K+. Today’s renters want a yard, even if it’s small. They don’t want a fireplace. With remote working trends, proximity to an urban area is now less important. Resources mentioned: Build-To-Rent FL & GA property: www.GetRichEducation.com/Southeast Show Notes: www.GetRichEducation.com/328 Mortgage Loans: RidgeLendingGroup.com EQRPs: text “EQRP” in ALL CAPS to 72000 or: eQRP.co By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. New Construction Turnkey Property: CashFlowAndGrowth.com Best Financial Education: GetRichEducation.com Get our free “Don’t Quit Your Daydream Letter”: www.GetRichEducation.com/Letter Top Properties & Providers: GREturnkey.com Follow us on Instagram: @getricheducation Keith’s personal Instagram: @keithweinhold Chris Voss on Masterclass: www.Masterclass.com
39 min
Wealth Labs with Garrett Gunderson
Wealth Labs with Garrett Gunderson
Garrett Gunderson
148. How to Buy Cryptocurrency for Beginners (UPDATED Ultimate Guide) / Ask The Money Nerds
Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode! In this episode of Ask the Money Nerds, Garrett, Amanda and a new Money Nerd, Logan talk through how to get started in the crypto space. The idea of using cryptocurrencies and Bitcoin in our daily lives is starting to become more commonly discussed across the globe. Is it time for you to consider getting into one of these currencies? And if so, how do you get started? Today, our guest is crypto-expert, Logan Sunday. He gives you the scoop on getting started with crypto and how you can dip your toe into the world of crypto if you are new to the space. *** If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews! Check Out Garrett's Books: Killing Sacred Cows - https://amzn.to/2lMbX1i What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book Connect with Garrett: Facebook: https://www.facebook.com/garrettbgunderson Twitter: https://twitter.com/GBGunderson Instagram: https://www.instagram.com/garrettbgunderson LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/ Website: https://wealthfactory.com/
14 min
The Remote Real Estate Investor
The Remote Real Estate Investor
Roofstock
How We’re Using Refi’s and HELOC’s To Grow Our Portfolios
In this episode Tom and Emil share their experience with the Refis an HELOCs they are currently processing. --- Transcripts Michael: Hey everybody, welcome to another episode of The Remote Real Estate Investor. My name is Michael Albaum and today I'm joined by my co hosts, Tom: Tom Schneider Emil: and Emil Shour. Michael: And today we're gonna be talking about loans, how to get them trials and tribulations upon getting them and things you can do to expedite the process along the way. So let's jump into it. Alright guys, so Tom, I'm curious now for a quick update from you, how is your insurance restructuring coming along? Tom: So I had the call with Nick, who is a an academy member and also an insurance broker expert. And I am we had a great call, and I'm sending him my current policies right now. hopefully get that done today. And then he's going to come back with game planning some options. So it's making progress, albeit not at work speed, but I'm ahead of where I was when we recorded our last episode on my 2020 failings. So making progress. Michael: Okay, good to hear. I will follow up with you on the next episode and see where you're at next. Tom: Love this. Thanks. Thanks for being my accountability buddy, Michael, Michael: That's what I do. That's what I do. Is he looking at every single one of your policies, or just only a handful? Tom: He's looking at a handful of them. He's looking at like six of them. So well, I don't know. We'll take a look. I'll keep you updated. Michael: All right, guys, I know that we are all in the midst of some form of loan product. And so we're going to be talking about some of the different products that are out there some of different products that we've utilized in the past, but a meal, I want to start with you since I know that you're in the midst of a cash out refinance, which is something that a lot of investors utilize along the way. So can you walk us back to why you wanted to get this? What was the kind of point and then what the results have been thus far, and what kind of ping us some questions along the way? Tom: And you're a good person to go first, because you held us up and recording because you had some stuff to do while we were waiting on the line for you related to your refi. Michael: So we're gonna blast you at the hotseat. Emil: Yeah, that's right, this is very pertinent, because they basically just asked me for my firstborn child so we can get into it. Alright, so this is the second property ever bought property in Indianapolis, we bought it for 115,000, back in 2017. And right now, with interest rates being so low and inventory being so low and prices going up a bunch because people are owner occupants are driving prices up, because everyone wants to get in a home. Now, the value of this property grew, I thought to about 140,000, or 150,000. So my plan was I could probably cash out our original investment down payment, closing costs, all that stuff was around 25 K. And I figured if values have risen to 140, 150K, I can probably pull out around 20,000 bucks, and it won't change my payment every month all that much. Because when I got the property, it was a 4.6% rate. And now at the refi, it's going to be a 3.1. So point and a half drop will offset a lot of what would be, you know, if I cashed out at the same rate, I'd be paying a lot more each month. But with that one and a half percent rate drop, my cash flow doesn't really change, my monthly payment goes up like 15 bucks or something 10, 15 bucks, and I get to pull this cash out. So we got the appraisal back last week. And to our great surprise, usually the painful surprise, this was a good surprise, it appraised for 157,000. So we're actually gonna be able to pull out our entire original investment of 25,000 bucks. So we'll be in this property for $0. And our monthly payment i think is going to go up like 25, 30 bucks in total. Tom: You know what, I think that is Emil. I think that's cool. You wanna know why I think it's cool? Emil: Why? Tom: BRRRRRRR BRRRR It's actually not like a traditional verb I cut he basically like effectively kind of did a burger, just being able to take all your cash out with the refinances. So it's not a full BRRRR. It's like a BRRR. Like you just Yeah, well, you probably didn't do a big renovation. Emil: I didn't know renovation, I was texting Michael, we were chatting on slack. And I coined a new phrase for this. It's called burger. And so what that stands for big GRP. So one is by the first key is get lucky and have the Fed drop rates. The second key is get more luck with low inventory and high demand. So prices go up. Yeah, the R is refi. And then the P is this probably won't repeat, we probably won't be able to do this lucky sequence of events because we just got lucky we didn't do anything we didn't we didn't force value and force appreciation we didn’t do anything special. It's just a nice sequence of events that sometimes when you're in the game, and the environment changes, you can take advantage of that. That's all happened here. Tom: BGRP. So that's sticky. I like that. Emil: Very, very sticky. It doesn't quite roll off the tongue. Michael: Rolls off the tongue so nicely. Fluid, you know, BGRP. So I have to ask though, I mean, I mean, it's we always joke on the show that you're a pessimistic person and I'm an optimist. Do you think that you made your own luck? Or do you really think this was just dumb luck? You threw darts at a board ended up in Indianapolis ended up with a, you know a great property? Or do you want to give yourself a little bit of credit and say, yeah, you know what I did some research, I did some legwork. This was a very calculated decision, Emil: I would say more luck than anything else, I'm not going to pretend like I saw this coming. And that's just me being really honest, I think you can often delude yourself into saying, Oh, I did all this research and blah, blah, blah. And sometimes, you know, maybe when Detroit or Cleveland in the past, you know, in 2008, when they had meteoric falls, I'm sure there were tons of people who were looking in those markets and saying, I bet Detroit or Cleveland could be on pace for great things, and then unpredictable things happen. I know, we all like to give ourselves a lot of credit and stuff. But I think a lot of stuff comes down to luck in my eyes. Tom: Yeah, I think that's true. But you also like need to be at the table to like to be lucky like that. Exactly. Like, if you're not if you're not gonna.. Emil: You need to be in the game playing in the game. Tom: That's right. So circling back on the finance aspect of this, this is something that I think about when I refinance, especially when I refinance pretty quickly from the original origination of the loan. So your example, so you said you bought in 2019, or 2018? Emil: 2017 Tom: * So you've made a bunch of loan payments, or a better way to put it as your renter has helped you make a bunch of loan payments. And with it being an amortized loan, the majority of those loan payments aren't cutting into the principal at all. It's just you're just basically, you know, paying that interest piece, I love to hear your guys's thoughts like in refinancing so quickly, it's like, you know, you don't bring the total loan basis down that much, just because those initial payments, so much of it is interest heavy, do you think that makes it like a better time to refinance versus just because you no longer into your mortgage, the more you're going to be able to cut into that hang down that principle total. And I'm just digging a little bit in the conversation and thinking about, I mean, I think we all like the concept of refinancing. But to play devil's advocate, so when you when you're refinancing, you're basically going back to square one, if you're doing another 30 year amortized loan, where you're only paying off interest for you know, are primar…
31 min
BiggerPockets Money Podcast
BiggerPockets Money Podcast
BiggerPockets
163: Taxes, Backdoor Roths, Options, and How to Max Out Your Childrens’ Roths with Steven Hamilton
Have tax questions for your upcoming 2020 taxes? Stick around then! We have a mind-blowing episode with enrolled agent Steven Hamilton from Hamilton Tax and Accounting. Mindy and Scott throw a lot of high-level, hard-hitting questions at Steven, so seriously, bring a pen and paper to this episode because you’re going to get some amazing tax strategies for 2020! How do you lower your income on your taxes if you have a W2? How do you add to your roth if you’re over the contribution income limit, and what’s the best way to get your kids to max out their retirement accounts (even if they’re only teenagers). Steven answers all these questions, plus a lot more! Whether you’re self employed or a W2 employee, you have options on contributing to retirement, AND options on leveraging those retirement accounts to fund investments. As always, it’s best to talk to your CPA, enrolled agent, or tax preparer on the best strategy that works for you. As Steven puts it, you need to have a plan for where your wealth is going and how you’re going to distribute it. Since 2020 was such a crazy year, many real estate investors are planning to double down on investments, up their contributions, or leave their W2 jobs. This all needs to be done with a plan and a strategy so you can maximize your investments and distributions. Steven helps spell out the best ways to do these (and more) through a number of different (and interesting) strategies. In This Episode We Cover * The differences between joint and separate filings as a married couple * How AGI (adjusted gross income) effects your taxes and retirement contributions * How to max out your 401(k) to $57,000 * UBIT (unrelated business income tax) and UDFI (unrelated debt financed income) * How CPAs, Enrolled Agents, and Attorneys differ when preparing your taxes * How to perform an IRA rollover into a different account * How to put even more money into your Roth * Setting up retirement accounts for your children * Limiting your stock gains so you pay less tax * And So Much More!
1 hr 27 min
More episodes
Search
Clear search
Close search
Google apps
Main menu