5 Myths Holding Investors Back From Real Estate Greatness with Chris Clothier

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On this episode of the BiggerPockets Podcast, we’re talking about myths. No, not about Sasquatch, elves, or the abominable snowman. We’re talking about real estate myths that might be holding YOU back from greatness! We’re excited to bring back Chris Clothier, a seasoned investor and business owner who shares stories from his own experiences to help you achieve new levels of success. Don’t miss one second of this incredibly powerful and actionable podcast!

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This Show Sponsored By

We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

Learn more by visiting RealtyShares.com/biggerpockets!

In This Episode We Cover:

• Who is Chris Clothier?
• What got him into real estate?
• Getting to the top 50 Home Buyers
• Five Real Estate Investment Myths
• Myth 1: Don’t work with family
• Myth 2: Past performance is a reliable predictor for future investments
• Myth 3: Investing in real estate is a big time sink
• Myth 4: You should only invest locally
• Myth 5: You should avoid risk at all cost
• Five specific scenarios that are risky and how Chris would handle them
• Learn an amazing tip when closing a deal!
• How not to get ripped off by a property management company
• And SO much more!

Links from the Show

• BP Podcast 026: Building a Scalable Real Estate Business and Tenant Management Tips with Chris Clothier
• RealtyTrac
• BP Podcast 005: Dealing with Death – A Financial Discussion with CFP Neal Frankle
• 20 Questions To Ask Before Hiring Rental Property Management
• How To Train A Property Management Company
• BiggerPockets Webinar
• BiggerPockets Forums
• BiggerPockets Marketplace

Books Mentioned in this Show

• Make It BIG!: 49 Secrets for Building a Life of Extreme Success by Frank E. McKinney
• Scaling Up: How a Few Companies Make It…and Why the Rest Don’t (Rockefeller Habits 2.0) by Verne Harnish
• Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek

Tweetable Topics:

• “You don’t have a job for everyone.” (Tweet This!)
• “In any partnership there should be clear lines, clear boundaries, and clear respect.” (Tweet This!)
• “A lot of investors look to go out of area first because they don’t understand real estate.” (Tweet This!)
• “There  maybe more risk with a lower cost investment, than higher cost investment.” (Tweet This!)
• “Our fear of losing money is greater than our desire to earn.” (Tweet This!)
• “Risk is all about assessing the good and the bad of making the decision or not making the decision.” (Tweet This!)
• “For investors, risk is not a bad thing.” (Tweet This!)
• “There is no perfect time.” (Tweet This!)

Connect with Chris

• Chris’ Company Website
• Chris’ BiggerPockets Profile

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.