Post #3: BP Podcasts

Yesterday I was fairly busy but I listened to some podcasts:

BP Podcast 237 - Ian Reeves talked about BRRRR real estate and using partners.

BP Podcast 177 - Ben Walhood talked about BRRRR real estate

Some of the things I learned from two podcasts are that it's very important to have a solid team in place and that it might be harder to get BRRRR investments when you're starting out vs getting a house that just needs some cosmetic fixes. Ben W also talked about crowdfunding as an option that he uses which I thought was interesting. They also said for any type of investing but especially for BRRRR that you have to know your area in and out and have very solid numbers that you can show to investors.
BP Podcast 74 - Buying my First investment Property

There were 3 people in this show that were just starting out. Some interesting things I took from the show was one of them specified how much cashflow he wants in X years instead of initially. I thought that would be a very interesting way to do it. Another talked about vetting your contractor fully by asking for references and possibly doing a background check. His contractor also said he'd eat anything over his estimate which they said was irregular. The main thing I got was I need a very specific mission statement which is on my todo list today.

BP Podcast 200 - Steps to Buying first Property

This was filled with information and I'll probably be rewatching it soon. One of the things I took away from it was to create a due diligence checklist for closing so you can make sure nothing is missed.

My goals today are creating a very specific mission statement and continue building my team. I am also planning on analyzing 5 deals that fit my mission statement and will be posting them.