434: How HGTV’s Scott McGillivray Started a Real Estate Empire with No Job, No Money, and No Experience (Part 1)
Play • 1 hr 12 min

Do you like watching home improvement shows such as Income Property, Vacation House Rules, and Buyers Bootcamp? If so, you’re in luck! Joining us on the podcast is HGTV host Scott McGillivray! Scott has been hosting some of the best real estate investing and construction shows for over a decade now, and if you like BiggerPockets, you’ve probably seen an episode of one of Scott’s shows!

Scott’s investing career started long before his TV network deals. As a student in college, Scott accidentally stumbled upon his landlord’s mortgage statement of account. He realized that him and his roommates were paying a few hundred dollars over what their landlord was paying monthly for a mortgage. That was the lightbulb moment for Scott. It was time to get into real estate investing.

While in college with no job, very little money, and no experience, Scott bought a house and moved out of his rented room. Now he wanted more. Over the next few years Scott started amassing more and more rentals, taking as many financing options as he could get his hands on. By the time he was 25, he already had 25 units and a significant amount of profit coming in every year.

This only pushed Scott to strive for bigger and better deals. Now Scott owns hundreds of rentals, and spends his time between Florida and Canada, finding more deals, and fixing up more rentals.

Scott is a tried and true investor, one who has gone through different market swings, different fads, and many different tenants. While he’s only in his early 40s, he has amassed an extensive knowledge of the real estate space. It’s no surprise he’s one of Brandon’s real estate heroes!

If you liked this episode be sure to tune in this weekend for part 2 of Scott's interview!

In This Episode We Cover:

  • When is the best time to get started in real estate?
  • Why most people are scared to invest, and what pushes them to finally do it
  • Amassing a small real estate empire even while you’re young
  • How to take advantage of financing offers and how Scott closed on 8 houses in the same day
  • Why you need to give your investing career time to start rolling
  • What a “double offer” is, and how you can use it to beat others to a deal
  • Why you should take action even when the market is uncertain
  • The ScottMc Method
  • And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show434

BiggerPockets Money Podcast
BiggerPockets Money Podcast
BiggerPockets
173: Bringing in The ‘Dough’ with Brent TheFoodTruckCEO (Part 2)
Welcome to episode 173.5! Yesterday you heard from Brent, a former registered nurse who paid off over $100,000 in debt and started a mobile pizza truck! Brent’s original interview was recorded back in January or 2020 and was scheduled to be released right around the time that the pandemic hit and shutdowns began. Since it was released yesterday we thought it’d be a great idea to have him back to talk about all his progress since then! Since we last spoke to Brent, he’s added a whole other food truck to his business and has hired on more staff. Now he’s cooking up (and selling out) pizzas wherever he goes. He even has a new social media handle, he’s TheFoodTruckCEO!  Brent talks through the challenges he’s faced this year, the wins he wasn’t expecting, and advice he’s given to young entrepreneurs just starting their business. As you heard in the last episode, Brent paid for his first pizza truck with savings he had, allowing him to finance the business debt-free. A year later, Brent still agrees this was a good idea, as has less stress and far more creative freedom being able to make decisions without having to worry about paying off a large amount of debt.  What are the profit margins of pizza and food trucks? Brent shares his margins, his pricing, and success stories, showing that regardless of how profitable your product is, you’re always going to have to put in the work to get it to where customers are willing to buy. Brent manages a very tight ship and is still learning the best ways to hire, manage, and make delicious pizza (without burning it)!  In This Episode We Cover * How Farm Fired Pizzas has grown since we last talked to brent * Why starting your business can be much harder, but much more fulfilling than a regular job * Why staffing is such a big hurdle when scaling and expanding a business * Using debt vs. using cash to start your business venture  * Becoming competent in a trade before you start a business focusing on it * Being flexible with your business venture and embracing failures * Raising prices in a way that works for your bottom line and your customers * And So Much More! Check the full show notes here: https://www.biggerpockets.com/moneyshow173-5
59 min
Optimal Finance Daily
Optimal Finance Daily
Diania Merriam | Optimal Living Daily
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9 min
ChooseFI
ChooseFI
The Unstuck Network
298 | Habits For Wealth Building | Rich and Regular
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He's since learned leading with shame creates barriers. * Whether a natural saver or a natural spender, everybody is spending. Spending today can be rewarding and motivating. * Kiersten was also judgemental in a different way. She thought she knew how her life was going to be and was closed-minded. She struggled with seeing a different version of herself. She had to be open and let go of her ideas of what certain aspects of her life would look like. * If they came into a windfall of money and weren't allowed to invest in themselves or their business, they would invest the money in low-cost index funds and then let it grow and forget about it. * Discipline equals freedom. When you set up a framework for life by setting up non-negotiable things, it allows you the freedom to spend time doing the things you'd rather be doing. * Brad agreed with Julien's sentiment about investing in yourself and that the spirit of frugality can get in the way of that. Watch out for it. * The local groups are the heartbeat of the FI community. They aren't made up of podcasters and bloggers. They are regular people who are getting together and trying to live better lives. * Website:  rich and REGULAR * YouTube: Money on the Table Resources Mentioned In Today's Conversation * ChooseFI Episode 224 Introducing our Households of FI Part 2 * ChooseFI Episode 251 Brad Connects with Martin and Ayesha * Find your local group at ChooseFI.com/local. If You Want To Support ChooseFI: * Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy.  * Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence.
1 hr 29 min
Millennial Money
Millennial Money
Shannah Compton Game
Simplify, Organize, and Maximize Your Money | Tania Brown
What is the value of time when it comes to your money? Most financial experts preach that you need to consistently get rid of expenses in order to thrive financially. However, there is a good argument that spending money on things that create more time is actually one of the smartest money moves you can make. In this episode, Tania Brown, Certified Financial Planner and owner of Financiallythrivingmom.com is showing you why you should invest in your areas of struggle in your life and breaking down how to simply, organize, and maximize your money. What You'll Learn * How spending money can help you create time * Easy ways to organize your money * Ways to create a life around what matters to you most * Simple money tricks for moms to simplify their money * Meet Tania Tania Brown, an Army veteran, is a CERTIFIED FINANCIAL PLANNER® and the owner of FinanciallyThrivingMom.com. Over her 18-year career, she’s taught time-saving tips to help thousands of busy moms at multiple Fortune 500 companies learn how to simplify, maximize, and organize their financial lives so they can build financial security and create a life they love. When she is not nerding out over the latest budgeting app, Tania is living out her other passions: fostering teens, volunteering, serving at her church, and continuing her never-ending quest of finding the very best chocolate. Links * Financiallythrivingmom.com  * About Tania Episode Sponsors Prose is the healthy hair regimen with your name all over it. Take your FREE in-depth hair quiz and get 15% off your first order today! Go to _prose.com/mymoney._ Get started with the MANSCAPED™ Perfect Package 3.0! Get 20% Off and Free Shipping with the code SHANNAH at Manscaped.com. Make it the year you finally cross life insurance off your list, and get protection for your loved ones. Go to Policygenius.com and get started. You could save 50% or more by comparing quotes and start the new year with one less thing to worry about. SUBSCRIBE & SHARE Want to be the first to know when new episodes are released? Click here to subscribe in iTunes! IT’S FREE! 👉 Sign up for my weekly LET’S TALK MONEY email newsletter. Ask Shannah Have an Ask Shannah question, submit it here Get Social * Shannah on Twitter * Shannah on Instagram
40 min
Credit Repair Business Secrets
Credit Repair Business Secrets
Daniel Rosen
5 Simple Steps to Identity Theft Resolution
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15 min
Suze Orman's Women & Money (And The Men Smart Enough To Listen)
Suze Orman's Women & Money (And The Men Smart Enough To Listen)
Suze Orman Media
Ask Suze (and KT) Anything: February 25, 2021
On this edition of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Kelly, Joyce, Nicole, Kim, Marcia, Tommy, Jessica, Robert, Zoya, Lori, Laura, Paul and Tony, selected and read by KT.   This week’s questions: Is it true that I’m wasting money if I get a tax refund? If I have NerdWallet, should I still pull my credit report annually? Should I buy out my car lease outright, or finance it? My company’s 410(k) plan is ending, what should I do? Should we sell the second home we rent out, to pay off debt? Should my wife take the 100% or 50% option on her pension? Should we update our trust, after 10 years? I think my partner’s brother may be pushing him to do something he doesn’t want to do financially.  Should I stay out of the way? Is the Bitwise 10 Crypto Index Fund a good investment? Why does the nursing home I am moving into keep calling me, asking me for my Social Security number? At 56, should I open a ROTH IRA? What should I do with the ashes I have, from loved ones? This week’s Quizzie (from Lance): What should I do with the 401(k) I have from my last job? Take advantage of the Ultimate Opportunity Savings Account with Alliant Credit Union by clicking here! Join Suze’s Women & Money Community for FREE and ASK SUZE your questions which may just end up on her podcast! To ask Suze a question, download by following one of these links: CLICK HERE FOR APPLE   CLICK HERE FOR GOOGLE PLAY See omnystudio.com/listener for privacy information.
34 min
Journey To Launch
Journey To Launch
Jamila Souffrant
202- Losing $300,000 of Your Life Savings in an Investment Deal Gone Wrong w/ Kierra Asnauskas
What would you do if overnight you lost over $300,000 of your life savings in an investment deal gone wrong? Unfortunately, that’s what happened to this week’s guest, Kierra Asnauskas. Kierra and her husband went from coming close to their goal of reaching Financial Independence to losing it all and having to start all over again. Tune in to what I hope to be a cautionary and inspirational story on taking risks and being resilient in the face of adversity. In this episode you’ll learn: * How Kierra and her husband lost over $300,000 * What is forex trading * Kierra’s biggest takeaway from losing it all * How Kierra is able to move on and rebuild and much more... Other related blog posts/links mentioned in this episode: * Kierra was a guest on Episode 131, “From Broke and Living in a Car to Traveling the World w| Kierra” * If you want to check out Teri's Trade & Travel Program, click here. * If you missed enrollment, join the waitlist for my FI course and Money Launch Club. * Join The Weekly Newsletter List * Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast! * Watch me on News12 Watch my latest segments on News12 * YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link. Connect with Kierra: * Website * Instagram:@MissUnconventional_ * Facebook:@MissUnconventional * Twitter:@KierraAsnauskas Connect with me: * Instagram: @Journeytolaunch * Twitter: @JourneyToLaunch * Facebook: @Journey To Launch * Join the private Facebook Group * Join The Money Launch Club Waitlist * Join the Waitlist for My FI Course * Jumpstart Guide
51 min
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