Transcripts (25)

446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren Clugston

BiggerPockets Real Estate Podcast

  • 9 days ago
  • 01:04:14

Have you ever had analysis paralysis? Maybe you have it right now and that’s why you’re listening to this episode! Kyle and Lauren Clugston would call that “productive procrastination”, and the only way to get out of it is to move forward! They should know, it took them over 3 years before they made their first move in real estate investing! In college Lauren stumbled upon Brandon’s old blog about real estate investing. As she read, she gained more confidence in the craft, and knew that real estate was what she wanted to do with her money. She then started trying to convince her partner, Kyle, that real estate investing was the way to go. As someone without an investing background, Kyle was hesitant, but took a leap of faith which paid off!Now they're BRRRR-ing their way through New Jersey, with single family and multifamily properties throughout the state. Lauren and Kyle had to learn a lot before they became the real estate success stories they are now. Things like doing inspections, estimating rehab costs, getting financing, setting up systems and procedures, and getting legal documents prepared were at one point a great challenge to Lauren and Kyle. Now, they’ve got them down!Lauren and Kyle lay out everything they wish their former selves had known, and go through the things that early real estate investors should worry about, and the things they definitely shouldn’t lose sleep over. This advice could save months, weeks, or hours off of your deal analyses and might be just the thing you need to get out of analysis paralysis! In This Episode We Cover:Why house hacking is such a great strategy for new investorsFocusing on the right metrics, whether it be cashflow or unitsDefining your specific roles as partners and investors The importance of weekly meetings with your teamSetting up your real estate to run like a business, not just a hobbyHow to put together an “invest with us” packet for private lendersAnd SO much more!Links from the ShowBiggerPockets ForumsGrant CardoneBiggerPockets Youtube ChannelBrandon's Old BlogBiggerPockets WebinarsBiggerPockets Rehab Estimator CalculatorBiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl YarberBathroom Example (file)Check the full show notes here:

445: When to Quit Your Job and Pursue Your Dreams with Rapper Manafest

BiggerPockets Real Estate Podcast

  • 13 days ago
  • 01:19:47

The BiggerPockets podcast has quite a diverse group of guests that come on the show. We’ve had writers, speakers, businesspeople, and actors, but this may be the first rapper we’ve had with us. Chris Greenwood AKA Manafest is in the studio, and instead of recording beats, he’s recording the best lessons he’s learned through his music career, real estate investing, and online business.Chris started out like many of us, working a stable job for a large corporation. After years of doing music on the side while working his full time job, he decided to take the jump and make rapping and rocking his career. Chris is the first to admit that this may not have been the best financial decision, and staying on the job for a little while longer could have relieved him of a lot of headaches. That being said, Chris didn’t just survive, he actually thrived in the music scene.When Chris and his wife decided to move out of their condo to upgrade to a larger home, they brought up the idea of renting out the condo instead of selling. This opened Chris up to the world of real estate investing, and as he saw the checks start to come in, he realized that this was a money maker that could help bring in stable income, passively while he worked on his music.Now Chris owns various properties and mainly buys from turnkey companies. Brandon, David, and Chris all have their own opinions on turnkey real estate investing, but they all agree on one thing: for those that don’t have much time to be an active investor, it’s a great way to start or stack up rental properties.Aside from rentals and rapping, Chris developed his own online course to teach other musicians how to successfully market their music in an industry that has such a high barrier to entry. Chris talks through how he separated himself from all the other “course gurus” and how you too can serve as an authoritative figure in your own community with knowledge, experience, and perseverance.In This Episode We Cover:How Manafest got his start in music (and why he made the jump to full time)The struggles and benefits of working a full-time job and pursuing your dreamsRenting your primary residence instead of selling when you move outNot getting sucked into the “you’ll have to fix toilets” fear of real estate investing Turnkey rentals and why they may (or may not) work for your investing strategyHaving the drive to help people before you ask for money or a saleChris’s book From Red to BlackAnd So Much More!Links from the ShowBiggerPockets PodcastBiggerPockets book storeManafest WebsiteClick here to check the full show notes:

444: 150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-Johnson

BiggerPockets Real Estate Podcast

  • 16 days ago
  • 01:05:54

It seems like young real estate investors get more and more impressive every week. Today we talk with Cole Ruud-Johnson, a wholesaler and flipper out of the Seattle area. The impressive part? He’s 22 years old and has done 150+ deals to date! Even at 22, Cole’s journey wasn’t a linear path, he had lots of ups and downs to get him to the level of success he achieves now. Cole tried to be a real estate agent at 18, but wasn’t getting the hang of it. After failing at a couple of real estate brokerages, he entered into a third and learned how they were creating their own inventory via cold calling. He decided he’d give this a try, and partnered up with his friend to cold call for deals.After three months, an agent brought them their first off-market deal. This first deal alone netted them $105,000. Yes, you read that right, six-figures on ONE wholesale deal. This wasn’t enough for Cole, he knew he had to get back out there and work on getting his next deal.Cole’s small business grew to a small empire, but over time this pushed him into a massive burn out. He had to make some BIG changes in his business, many of which even business veterans wouldn’t be comfortable doing. Now he’s here with us on the podcast, talking through his lean team, his deals, his systems, and how new wholesalers can start getting deals. Cole even throws in the script he uses to get wholesale deals over the phone, so if you’re thinking about getting off-market deals or starting your wholesaling journey, this is the episode for you!In This Episode We Cover:How wholesaling and off-market deals can net big profitsWhy you need to be consistent when cold calling The script that Cole uses to get off-market and wholesale dealsHow to scale your business (and prevent massive burnout)Growing slowly to scale, instead of fast and crashingThe types of lists that Cole and his team pullKeeping the flow of communication open between you and your partnersTaking action instead of just taking in informationAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Podcast 443: 10 Ways to Learn Anything Faster with Jim KwikBiggerPockets Podcast 403: Developing a Millionaire’s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason DreesBiggerPockets Podcast 365: Ret. Navy SEAL Jocko Willink on Embracing Discomfort and Leading Through Extreme Ownership (+ His Real Estate Investing Tips!)BiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl YarberBiggerPockets Podcast 394: Making a 25 Deal/Year Business (and Marriage) Work… Together! with Elliot and Chrissy SmithBiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan SullivanCheck the full show notes here:

443: 10 Ways to Learn Anything Faster with Jim Kwik

BiggerPockets Real Estate Podcast

  • 20 days ago
  • 49:36

During childhood, Jim Kwik experienced a traumatic brain injury. As a result, he lacked focus in school, wasn’t able to read properly, and at one point, a teacher told him that he had a “broken brain”. So how did a kid with a “broken brain” become the leading mental coach for athletes, CEOs, and movie stars? Simple: Jim looked into how to learn instead of what to learn. Soon enough, Jim was reading faster, memorizing with higher accuracy, and doing well in school.His friends asked him for some tips so they could improve their grades as well. With some success in his inner circle, he decided to make a flyer for speed reading and memory improvement classes. He put up the flyer at his college hoping one or two people would show up to his impromptu class. Over 100 students showed up, of which 71 signed up for a full course with Jim. After that, Jim knew it was his life mission to help those who wanted to learn, memorize, and live better.So why is it so hard for some people to memorize things? We forget details all the time, whether it be names, addresses, phone numbers, or other important information. Jim goes through a simple method to memorizing any piece of information, called the M.O.M system. He also outlines 10 tips for a limitless brain, many of which you can implement soon after you finish this episode!Even something as simple as reading slightly faster can allow you to save weeks worth of time each year. So if you’ve been beating yourself up over forgetting that one seller’s name, check out Jim Kwik’s podcast and his new book Limitless. As Jim puts it, increasing your memory and reading power not only adds years to your life, but life to your years!In This Episode We Cover:How Jim recovered from a traumatic brain injury as a childWhy school teaches us what to learn, but not how to learnIncreasing your reading speed so you can finish tasks fasterHow to remember important things like names, addresses, and phone numbersThe 3 keys to a better memoryThe 10 tips for a limitless brain (including diet, exercise, and learning)How to learn anything faster (no matter what it is!)And SO Much More!Links from the ShowBiggerPockets PodcastBiggerPockets book storeJim Kwik’s podcastLimitless by Jim KwikClick here to check the full show notes:

442: Taking "Bite-Sized Steps" to Go from Broke to $20,000/Month with Bryce Stewart

BiggerPockets Real Estate Podcast

  • 23 days ago
  • 01:09:11

Hearing Bryce Stewart’s story may sound familiar to long-time BiggerPockets Podcast listeners. That’s because Bryce was on Episode 276 where he gave the great metaphor “vacuuming out the truck” relating to real estate investments.Bryce is back to talk about being a great mentor/mentee, what every contractor needs before working on a rental, how to go from active to passive real estate ownership, and his new book House-Hacker’s Guide To The Galaxy.Bryce understands what it’s like to be a new investor. Every step seems hard, the end result seems almost impossible, so where do you even start? Simply, take a step forward, no matter how small it is. Even just starting to save a few hundred bucks a month can be your first step towards becoming a real estate investor.As time goes on, these small steps become giant leaps, and what seemed impossible at first, can now be doubled since you have the know-how. Bryce takes us back to a time where he didn’t know how to get his property taxes lowered, but through very incremental steps was able to make a case and save himself thousands of dollars in the long run.Looking for a mentor? Stick around to hear Bryce’s top piece of advice for any new real estate investor. This simple tactic can help beginner investors know more about what they’re getting into and also show the mentor they’re serious about their new interest.In This Episode We Cover:Why small steps can lead to massive leaps in real estate investingHow to go from an active to a passive investorWhy newbies should know what collateral is and how it affects their loansWhat every contractor needs to have before they work with BryceA specialized and creative new BRRRR strategyWhat you can do to get your foot in the door as a real estate investorAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreBiggerPockets Podcast 276: Early Retirement ($10k/Month) by Age 35 with Bryce StewartBiggerPockets WebinarsDocusignDotloopM1 MastermindYNABZillowThe Crown (Netflix)Young LifeCheck the full show notes here: