Six-Figure Real Estate Investing in Just 20 Hours a Week with Elliot Smith

In This Article

How many hours per week does it take to be a successful real estate investor? The answer on today’s episode might surprise you. Today we’re sitting down with Elliot Smith, a real estate investor from Washington State who has an incredible story to tell about how he went from 70+ hour per week worker to “full-time” real estate investor who only works part-time. Elliot has an incredible outlook on life and business that’s contagious, so warning—you won’t leave this interview the same person. You’ll also learn how Elliot and his wife made over $100,000 their first year in real estate and the amazing tale of how they made over $100,000 in a single month. This show is as inspirational as it is educational (and filled with more than a few laughs!) so get ready to have your world rocked.

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In This Episode We Cover:

• How Elliot got started real estate investing
• Whether you should do house inspections
• Their next deals and a great wholesale deal
• How to wholesale with a full-time job
• The importance of being honest with your sellers
• What exactly wholesaling entails
• How he made $100k in just one month!
• How to invest part-time and earn full-time
• Tips for building relationships with private lenders
• Advice on flipping with no money down
• Tips on finding a mentor
• How to do 30 deals a year
• How Elliot finds deals
• His way of making the world better
• And SO much more!

Links from the Show

• BiggerPockets Forums
• Brandon’s Instagram Profile
• Mindy’s Twitter Profile
• BiggerPockets Blog
• 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber
• I’m Not Your Guru Netflix
• BiggerPockets Bookstore
• Wholesaling Resources
• Podio
• Dropbox
• Open Letter Marketing
• Gary Vee

Books Mentioned in this Show

• The Book on Rental Property Investing by Brandon Turner
• Finding and Funding Great Deals by Tarl Yarber
• Investing with Low or No Money Down by Brandon Turner
• The Millionaire Real Estate Investor by Gary Keller
• Pitch Anything by Oren Klaff

Fire Round Questions

• How do you secure your rehabs?
• How do you determine what to do for repairs/improvements?
• I live in a booming ski town and am looking to flip condos, advice?
• With all the contracts, documents, invoices, and other paperwork, what is your filing system to stay organized from start to finish?

Tweetable Topics:

• “If you’re asking if you need an inspector, then you need one.” (Tweet This!)
• “It all has to do with the intent. Is your intent to screw this person or is your intent to do the right thing?” (Tweet This!)
• “You’ll find really good people in this business who just love people and love helping.” (Tweet This!)
• “Money is not the most important thing. Friendship and relationships are the most important thing in this business.” (Tweet This!)

Connect with Elliot

• Elliot’s BiggerPockets Profile
• Elliot’s Facebook Profile

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