My List Of Chosen BP Podcasts

Hello, this week I will be covering a few BiggerPockets Podcasts that I listened to. I decided to start from the first podcasts but for some reason it only showed me from number 70 and on word on my app. I will talk briefly about what is mentioned in each podcast and the things that I took or was intrigued with.

Before I get started I have to say that other then the awesome lessons I get from listening to the podcasts I also got a lot of laughs. Joshua Dorkin, the host of the podcast, and Brandon Turner, his co-host, (I know now its different), are super funny guys. They deliver the information in a really fun way, making jokes and ripping on each other along the way and it makes the experience refreshing and pleasant.
The headlines are links to the podcast if you want to hear more.

Podcast 074: Buying My First Investment Property- A Newbie Podcast with Jordan, Jacob and Jeromie

I really liked the concept of the newbie podcast. I feel like the fact that I hear people who are just getting started talking about their first investments helps me build up the courage I need to get started.

Jordan Thibodeau is the first to talk in this podcast. He is a buy and hold guy and the biggest thing I took from his story is that he believes that before you can become a landlord of a big multifamily with a lot of units you need to start with smaller ones in order to understand the work and then scale up. I completely agree and that is the strategy I plan on implementing in my journey.

Jacob Allen is a flipper. He tells the story of his first flip and the thing that really left an impact on me is that about a month to the end of the project someone broke in to the house and destroyed a lot of stuff that was already rehabbed. This naturally brought up the costs and delayed the end date. The moral of this story in my eyes is to try and take as much precautions as possible in order to prevent these sort of things as much as you can and it taught me the importance of a good insures plan. 

Podcast 076: Growing Your Real Estate Company Into a $30 Million Dollar Business with Brian Burke

Brian is the owner of a large, successful real estate company headquartered in Santa Rosa, CA. In the show they go deep into Brian's company, sharing the details of how he scaled his real estate business from a one-man operation to fully staffed multi-million dollar company. I learned a lot of good things I should pay attention to.

• To put emphasis on the things that truly bring in the money for the company and things that will move you forward and not to put all your time in to more sexy or easy tasks that mainly waist your time. They say that 20% of the tasks bring in 80% of the money, if you put most of your time and effort in to those 20% you'll have a greater chance of succeeding.
• To keep a detailed record of all the deals I will be involved in so that I can show them in the future to potential lenders or partners.
• To assess correctly the expenses surrounding a deal, such as insurance, closing costs, taxes, holding costs, etc. If not taken in to consideration properly, these costs can turn a good deal into one that doesn't make enough profit or even loses you money.

Podcast 077: Negotiating Your Way to 1000 Wholetail Real Estate Deals with Michael Quarles

In this podcast the main thing that caught my attention is when Michael starts to break down his negotiation methods that include Neuro Linguistics. I will not go into depths what that means but it was really eye opening to see ways that he is able to bring the other side to his way of thinking. Them talking about it mainly made me very curios about this subject and made me realize that I need to study and learn negotiation systems before jumping in. Michael recommends a book called "Pitch Anything" by Oren Klaff.

Another good point that is brought up is the fact that real estate investors should be ethical and decent with their clients, lenders and other people they work with. Of course it is important in general for our society but in a business perspective it can also be very beneficial. If you are dishonest the word will come out and you might lose a lot of potential clients and deals, but if you are sincere then people will want to continue working with you and you will only benefit from that.

Podcast 084: Getting Started with Creative Finance and Designing Your Ideal Lifestyle With Chad Carson

There are lots of insightful conclusions in this podcast. Chad brings expertise in a ton of areas including everything from fix-and-flips to creative finance, property management to buy-and-hold and a ton of tips and tricks. The main conclusions I took were:

• You don't necessarily need to have a huge business in order to succeed in real estate. You should have a company the size that fits your goals and dreams.
• Making and writing down your life goals can be very crucial. Its important to know what you are aiming for in your business, it will help you push yourself towards the goal and make you focus on the prize. Another important use of this written dream is to make sure you don't stray from toward the other direction. Being successful can make you want to be even more successful and you might find yourself working so hard to improve your business only to realize you are hurting your goals in the process.
• In order to enlarge your privet lender list its important to make the lenders profits your top priority. If you make sure your lender makes money you are bound to make money yourself. You might need to lose some money on some deals so that your lender wont suffer but in the long run it will enable you to continue doing more deals and making more money because the lenders know that you are taking care of them.
• Books that were recommended and I will want to read are, "Building Wealth One House at a Time: Making it Big on Little Deals" , by John Schaub and "The 7 Habits of Highly Effective People", by Stephen R. Covey.

Podcast 087: How to Thrive After The Collapse of a Real Estate Empire with Nathan Brooks

I really liked this podcast because it tells the story of Nathan who is an investor from Kansas who went through a very difficult period during the real estate crash, losing all his properties and filing bankruptcy due to a shady partner and jumping in too quickly. I believe that other peoples failures and mistakes are the best things that I can learn from. Plus I appreciate investors that aren't shy about their mistakes and want share with others so that they can learn. Since then Nathan has emerged as a much stronger real estate investor and carries an incredible story that I recommend for every one to listen to. The main lesson I took from his story is to be very careful when choosing a partner cause you are going to be very dependent on him.

Podcast 090: My First Real Estate Investment – A Newbie Podcast With Matt, Romeo and KC

As I've said I truly believe these kind of podcasts will be the ones that will benefit new investors the most.

Matt Giovanisci is the fist to talk. He invested in a condo, which I'm not really interested in trying my self. The one thing that is good to know is to take the HOA in to consideration when buying a condo because in addiction to the monthly pay, they can make special assessments and charge you more money for spacial projects that need to be done in the building. Those special assessments can drink away all your profits.

The second guy that's interviewed is Romeo Jeremiah. Romeo made his first flip in which he used a turnkey company that helped him manage the whole process. An important tip he gives is to make sure you have spare money aside in case things go wrong so that you wont get stuck in real time.

Lastly we are presented with KC Beavers. I don't have a lot to say about his story but it is kind of unique because he started off with a 24 unit apartment complex. I have decided to start with smaller properties at first but it is interesting to hear from a guy that didn't take that path and to learn from his story.

Podcast 096: Finding Deals, Wholesaling and House Flipping in a Hot Market With Anson Young

I will just jump straight to the conclusions:

• Real estate is a very locale market. There can be tremendous differences even between houses that are several miles apart. It's important to do a thorough market research before getting started.
• A great advice he gave on finding privet lenders is by using a website called listsource. In this site you can get a list of homes that were bought using privet loans. With that list you can search properties that are similar to what you are looking to buy and invest in and try to contact the lenders and ask them if they might be interesting in doing a similar deal with you.
• A very big tip I took from this podcast is that when you are looking for privet lenders, even if you haven't done any deals yet, it's important to show that you now how to do the math and what your business plan is. If you can show that you can identify a good deal and you explain exactly what you are planing to do and what your investment strategy is you will look much more professional.

This is a very good podcast to learn from about privet lenders and how to be more successful with finding and convincing them to invest with you.

Podcast 100: The 1st Deal, Management Drama, and the Birth of BiggerPockets with Joshua Dorkin

I will close this post with a round number. In this podcast the guest is Joshua Dorkin, host of the podcast and the CEO of BiggerPockets. Of course Josh has a very interesting real estate career and he has been through a lot, but what I was more interested in was listening to the story behind the community and the site. I was especially inspired that when he started getting in to the business he felt something was missing and instead of complaining about it, like most people would do, he got up and did something about it and as we can all see that has turned out to be a huge success. One other thing I enjoyed learning about is that for a short while he pursued an acting career because that has also been a dream of mine for a long time. 

Closing Words

I have listened to more podcast and there were some that seemed to be a bit less relevant to me at the moment, but I do encourage every one to listen to the podcasts because the guests there are always unique and incredible people and investors that have a lot of knowledge to give. Even one little sentence can be enough to teach you an important lesson that you can use to better yourself and your business.

I'll be sure to continue sharing, stay tuned...