BiggerPockets Real Estate Podcast

On today’s episode of the BiggerPockets Podcast, we cover a huge range of really important topics with real estate investor Mike Sherwood, including investing while holding a full time job, working with a partner to grow quickly, getting started with a small multifamily property, and a lot more.

Mike has invested in the Buffalo, NY for several years now, doing both rentals and is getting into fix and flip, so he has a ton of insight for both those just getting started and for those with a lot of experience already.

This show has so much good information and helpful tips for any real estate investor, this is going to be one you’ll want to listen to over and over just to make sure you get all the great nuggets out of it.

Read the transcript for episode 51 with Mike Sherwood here.

In This Show, We Cover:

• Buying a small multifamily to live for free
• The secret to living next door to your tenants
• Training your tenants
• When is an emergency an emergency?
• Managing your own properties vs. hiring a property manager
• Tips for working a full time job AND investing on the side
• Finding good deals on the MLS
• How Michael found a partner to invest with
• Legally structuring a partnership for real estate
• Ways to systematize your business
• The key to finding partners on BiggerPockets
• Flipping houses while working a full time job

Links from the Show

• Tenants: Customers or Scum? (Training Your Tenants) by Peter Giardini
• The Real Estate Agent’s Ultimate Guide to Working with Investors
• Rentecdirect.com
• Online Property Management Software list from BiggerPockets
• BiggerPockets Keyword Alert System
• BiggerPockets.com/meet
• The BiggerPockets Rental Property Calculator
• Tenant Screening: The Ultimate Guide

Books Mentioned in the Show

• The eMyth Revisited by Michael Gerber
• Landlording on AutoPilot by Mike Butler
• Four Hour Workweek by Timothy Ferriss
• Start Small, Profit Big in Real Estate: Fixer Jay’s 2-Year Plan for Building Wealth by Jay DeCima
• Building Wealth One House at a Time by John Schaub

Tweetable Topics

• “Establish guidelines upfront with your tenants to save yourself a lot of trouble.” (Tweet This!)
• “I wish there were more agents who understood what investors want.” (Tweet This!)
• “You can make any real estate deal look good with 80% down.” (Tweet This!)
• “The most important thing in a partnership is being able to constructively handle differences.” (Tweet This!)

Connect with Mike

• Mike’s BiggerPockets Profile
• Mike’s Website: www.CandMRental.com

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Amanda Young stumbled into real estate. After being let go from a job, dealing with a family emergency, and homeschooling her son, Amanda knew that she had to find a way to provide for her family, but also allow her to discover her hidden edge.

After finding BiggerPockets and joining a local REIA (real estate investors association), she decided to take the jump and buy her first rental. Now, in 2020, she has 7 rental properties and a flourishing flipping business, working with a partner that matches her energy.

Amanda found her localized niche by targeting owners of “sinkhole homes” and offering them deals that not only made sense for the buyer, but were a steal for her. She then used creative financing (really creative) to get these homes under contract.

Amanda is the definition of someone who has grit, and is willing to work hard to earn their piece. She talks through Section 2 deals, 1031 exchanges, refinancing, and even how to “COVID-Proof” your tenants, so when the next global emergency happens, you’ll be ready.

In This Episode We Cover:

• How to fight your analysis paralysis and get deals done
• What probate deals are and how to find leads
• Why owner financing can be a win-win for buyers and sellers
• How Amanda found a niche in “sinkhole homes”
• Why it’s important to find a niche that others would run from
• How to “COVID-Proof” your rental properties
• Getting ahead as a woman in a male-dominated industry (flipping)
• Empathizing with the seller so you’ll win negotiations (even with less money)
• And SO much more!

Links from the Show

• BiggerPockets Forums
• David's Instagram
• Brandon's Instagram
• BiggerPockets Podcast
• Sinkholes: Swallowed Alive (Discovery Channel)
• BiggerPockets Podcast 412: Start Investing in Large Multifamily? How to Do it, and Why (or Why Not) with Ashley Wilson

Check the full show notes here: https://www.biggerpockets.com/show422

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Alex Camacho has had quite an interesting career path, and he’s just getting started! From a bank teller, to the mortgage business, to property management, and even Airbnb arbitraging, Alex took his time in acquiring the skills to succeed in real estate.

In this episode, you’ll hear Alex talk about how he became successful at locking down deals, finding the “pain points” of sellers, and how to have empathy when closing. You’ll also hear how he analyzed over 5,000+ deals, leading him at one point to close on 8 deals in one month (seriously!)

You’ll hear Alex go through his off and on-market strategies, and how to steer clear of deals that won’t make the cut. In just 16 months on his own, he’s done 14 deals, some with six-figure profits (each), and how he’s using social media to get even more!

In This Episode We Cover:

• The importance of apprenticeships in real estate
• The art of saying “no” as you grow into your role
• Why it’s crucial to surround yourself with high-level investors and entrepreneurs
• How to get great at analyzing deals, so you can close on the best ones!
• Using the “LAPS” funnel to drive leads and grow your portfolio
• Finding the “pain points” sellers have, and how to empathize with them
• Using social media as a tool, instead of a distraction
• And SO much more!

Links from the Show

• BiggerPockets Forums
• BiggerPockets Keyword Alerts
• BiggerPockets Podcast 315: How to Read Human Nature to Succeed in Life with Bestselling Author Robert Greene
• BiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl Yarber
• BiggerPockets Webinars
• BiggerPockets Calculators
• BiggerPockets Pro
• BiggerPockets Podcast 320: Hands-On BRRRR Investing and DIY Secrets with Instagram Star Brittany Arnason
• BiggerPockets Podcast 292: 200+ Deals in the First Four Years with Ryan Pineda

Check full show notes here: http://biggerpockets.com/show418

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On today’s show: accelerated wealth-building through leverage and systems!

Palak Shah walks us through how she built a $4M portfolio in just three years by "supercharging" the BRRRR strategy.

Palak left a career in corporate America to focus full-time on real estate in the Philadelphia area, and she applied her training as an engineer to create airtight processes that help her business run without her.

You’ll love hearing how she finds deals from wholesalers on Facebook, why she’s not afraid to sell off some of her BRRRR properties, and how she creates checklists to determine whether a deal fits her criteria.

Also, we discuss how to beat “analysis paralysis” by remembering her acronym “A.B.L.E.”

Palak is a relatable, inspiring investor who offers great tips for anyone hoping to transition away from a 9-to-5... so check out this episode today, and share it with a friend or family member!

In This Episode We Cover:

• Leaving her corporate job to take more control over her time
• Why she’s OK paying capital gains tax rather than using 1031 exchanges
• Flexing your “risk-taking muscle”
• Using hard money for BRRRR projects
• Creating “templates” to make investing easier over time
• Criticisms of the BRRRR strategy
• Why she sells off some of her BRRRR properties
• Using local banks and credit unions
• Her mantra: “Fortune favors the finance-savvy”
• How her systems allowed her to buy 2 properties from India
• Her “A.B.L.E.” method to escape analysis paralysis
• How she bought 9 units for 40% off the list price
• How she used a home equity loan to borrow $160K
• And SO much more!

Links from the Show

• BiggerPockets Forums
• BiggerPockets Webinar
• Fear-Setting: The Most Valuable Exercise I Do Every Month
• How to Make $100,000/Year with Fixer-Upper Rentals (by Buying Only 2 Properties Annually)
• Microsoft Project
• Redfin
• Hustle & Persistence To Build Wealth Through Real Estate | BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene
• BiggerPockets Podcast 362: Big Goals? Here’s How to Get Your Spouse or Partner on Board with Jay and Wendy Papasan

Check the full show notes here: http://biggerpockets.com/show368

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Starting out with nothing is not easy. Luckily – this week on the BiggerPockets Podcast we are talking with husband and wife team Glenn and Amber Schworm, who have successfully done just this and scaled their real estate business to over 100 deals! On today’s show, Glenn and Amber share a ton of great tips and advice about flipping, wholesaling, and marketing for real estate investors – both new and seasoned.

Read the Transcript for episode 15 with Glenn and Amber Schworm

In This Show, We Cover:

• How desperation (and $80,000 in credit card debt) forced Glenn and Amber to succeed
• Using a mail-carrier to find deals for you
• The mistakes made on the first flip that helped them prosper on over 100 other flips
• Working with your spouse as your business partner
• Creating systems and teams to build a bigger business
• Tips for finding private investors to fund your real estate investing
• The toughest thing Glenn and Amber ever have to face in their business
• Tips for making money from wholesaling
• Marketing for motivated sellers

Books Mentioned in the Show:

• The BiggerPockets Book on Flipping Houses
• Seven Habits of Highly Effective People by Steven Covey
• Think and Grow Rich by N. Hill
• The Four Agreements: A Practical Guide to Personal Freedom by Don Miguel Ruiz

Links from the Show:

• BiggerPockets’ Facebook Page
• BP Podcast 010 : Flipping Houses 101 with J Scott
• Do You Have the Mindset to be on Shark Tank?
• Deals that Keep you Moving Forward....$20K into $85K in 5 days!
• BP Podcast 012 : Wholesaling and Marketing with Sharon Vornholt

Tweetable Topics

• Don’t be afraid to ask. (Click to Tweet!)
• You can read the books and go to the seminars, but in the end – it’s a people business.(Click to Tweet!)
• Behavior that is rewarded is usually repeated. (Click to Tweet!)
• Invest in your people... they are your future. (Click to Tweet!)
• Action equal results. Massive action equals massive results.(Click to Tweet!)

Learn More about Glenn and Amber

• SignatureHomeBuyers.com
• Glenn’s BiggerPockets Account
• Glenn’s BiggerPockets’ Blog Posts

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