So, three months, it was short enough we could still ask for favors. Brandon Turner: Before we get to that, let’s get to today’s quick tip. Look, here’s the reality. Brandon Turner - active real estate investor, best-selling author, and co-host of the BiggerPockets Podcast - has one goal in mind: to help you find success and avoid the junk that pulls down so many wannabes. David Greene: Next question, what is your favorite business book? Brandon Turner: Yeah. If we buy a property out of the country, we’re going to get really sick of going there pretty quick.” But my wife and I, we like moving around quite a bit and we like exploring different areas. Robert Jones: Yeah. 95% of the answer is keep it as a rental. Some of it is just blood money, man, like you’ve bought yourself a job. Robert Jones: So, it became very well-versed on conventional loans and what was available in that marketplace. Dec 23, 2020, Rodney Ross didn’t have the most gracious entrance to the real estate space. Robert Jones: Yeah. David, do you remember [crosstalk 00:56:55]-. Maybe it looks more like one, five, 10, 50, 1,000. Sure. Brandon Turner: With a B, yeah. We bought a triplex and we were in there for just a couple months remodeling it. Robert Jones: Yeah. You mentioned location. Brandon Turner: Yeah. Those character-building attributes. She was only getting, combined, about 1,500 a month in rents. Real strategies that work for real people seeking to build wealth through real estate investments. So, we come from pretty modest means, as a lot of your listeners and people you’ve interviewed. Where were we? So, we did a 30-year fixed, 100% financed triplex at 4.75. Total digital minimalists, which is funny because we had Cal Newport on. Another year of the BiggerPockets Real Estate Podcast is in the books! It was not her favorite three months of the year but again, we only owned six properties at that point, five or six properties amounting to probably 10 doors. Brandon is currently 35 years old. Brandon Turner: All right. I can buy a house without too much money down, someone else will pay for it and I get to keep the house?” The third time I rephrased the question, he’s like, “Okay. Do you regret that [crosstalk 01:02:39]? Some weren’t interested but, again, grateful for the call, really, really gracious about it. I’d say the first three were. Then, build equity pretty quickly upon renovations and just cleaning the place up. So, that is my absolutely first and foremost advice. DO NOT miss this one. "Quality" Animations by your friendly neighbourhood weirdo FAQ: What program do you use? That’s where I’m at. He’s like, “Every property I bought lost money. David Greene: Yeah. Now, we get very aggressive offers and we knew when their fiscal year ended specifically-. I still got the claim that two year thing because I lived there two of the last five. David Greene: Yeah. Almost every resource we dug into, there’s even one book my brother-in-law read that said, “If you’re not okay losing 100% of your money, close the book and don’t even finish reading it.” And from a risk-tolerant standpoint, I’m like, “Holy crap. If they don’t qualify, we don’t want them to buy the house because that’ll be a pain and the deal probably won’t close.”, Robert Jones: So, by about the third or fourth time she said that and one of my partners said, “Hey, man. That was my strong belief. Robert Jones: And really, just to shut him up, I went and had lunch with real estate legend, Larry Kendall, the founder of the group Real Estate. Brandon Turner: Yup. Really, really cool story there. You don’t think [inaudible 00:42:32]? Number one, obviously the FHA move into a house, buy a house, three, three and half percent down, especially … Now, that alone doesn’t mean it’s going to be a good deal, right? Read Rich Dad Poor Dad and thought, “Hey. What do you think separates successful real estate investor from those who give up, fail, or never get started? Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember. You want to take what you’ve learned for your own self and you want to ply it to your clients. The funny thing on that prequalification, the lender called me three weeks in and said, “Hey, you need to pay off Sarah’s credit card. David’s over here. There was some gold nuggets there that were just exceptional. This is the part of the show where we dive deep into one of your particular deals, so you got a deal in mind? Robert Jones: Yeah. People want that sabbatical, that break but they could not even imagine, “What are they do when the tenant calls and has a broken pipe.” What do you do? Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. Brandon Turner: David, you got anything you want to jump in with? Met my wife at the dealership. We’re never going to sell any of these without replacing them in some form ever is our goal right now. Brandon Turner: Well I was thinking we should get a t-shirt that says, “Find your why,” and you can do the alphabet soup. I’m nervous. Your why doesn’t even need to be real estate. You should just rent it out because it gets you into real estate,” but if you’re going to rent it out and lose 100,000 of taxes because maybe then you should have sold it and dumped it-, Brandon Turner: … or something else. Their high-tech, low-cost online platform lets you track the progress of every single project, and keep more of the money you make. Then, the next year, a whole year later, you buy a fourplex or maybe two duplexes, whatever. Billionaire. Le compteur affiché sur YouTube est souvent incorrect car il ne se met pas à jour en temps réel. Yeah. For those who want to buy a house in Colorado, sell a house or just simply learn more about their fascinating brain, how can they find out more about you? Whatever. He actually is a real estate agent but he explains why you may and why you may not. Into the pool. David Greene: Yeah. Welcome to the BiggerPockets podcast, Robert. I’m wearing one of my t-shirts I just bought when I was hanging out-. All. My perceptual map wasn’t very big. What drives me, and is it worth getting over the excuses that I have to stop me from taking action?”. University of Arkansas. It’s heavy. L’ailier du Thunder n’en finit plus d’impressionner. Brandon Turner: The whole cross-collateralization. David Greene: There’s something to be said for understanding. Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. They’re all words that are describing the thing that’s going to push you through whatever your fears, your excuses or your concerns really are. Re... BiggerPockets Real Estate Podcast His birth flower is Larkspur and birthstone is Ruby. Brandon Turner: “I want to talk about that.”, Robert Jones: But it’s … No. It was through my real estate business. Brandon Turner: Yeah. All right. Use at least 8 characters. We stay pretty active. David Greene: That’s a really good question. It had a bigger bedroom count. All the pieces were in place because it was a great deal. Get after it. You might have answered that when you said, “I learned to see the forest, not the trees.”. At the time, we only owned two properties. I’m going to do it anyway. What drives you? Brandon Turner: I mean, okay. Brandon Turner: You said you were buying property. Then, online, I found some family that was living on a boat that, when YouTube was just starting to gain traction, I thought, “Wow! You guys definitely have been. Brandon Turner: There you go. Learn how to be the best landlord you can be with Cozy's resources and educational tools. We had $900 in our checking account, or if you’re in that market. 80% of the business goes from the top 20% of the agents. I mean, I don’t know a nicer way to say it. It’s stuck on my truck. Thank you, Last question. Just get something. We were just out of control. And that’s interesting thing, too, about these higher-end properties is and I don’t know if you’ve found this but I definitely found it. I don’t regret that because it helped me get out of my job. I can buy this house. Brandon Turner is passionate about teaching others how to invest in real estate so that they can build their dream life. Can I buy it?” I went home thinking, “Well, I should try to buy it. 24. I didn’t know about these resources, so my perceptual math of what’s possible in real estate was still pretty limited. You can jokingly call me a slow learner but I asked the guy multiple times, “Wait. Thanks bigger pockets!! Rush, you’re going to skip the fire round because I don’t have any fire round questions because I don’t have a computer in front of me today and those are the ones from the forum, so we’re just going to bypass that completely and jump right into the famous four. We’ve got a lot of young guys that are … I’ve got a buddy that owns 11 doors, another one with six, another one with eight. Just add a YouTube channel and get a instant analysis on YouTube video performance comparing Brandon Turner I just knew that if I moved into the house, I could do an owner-occupied loan, I didn’t need a big down payment, and we could remodel it while we’re living there. When they do happen, they’re a little more expensive to deal with. Very strange. What’s that mean? I’ve got an entire escrow department, a marketing team and all these other functions. Didn’t have any money. It shouldn’t be the guy that has a good smile and you like. They would have ran it through your whole calculator like, “Oh, my god. Court Records found View. Brandon Turner: I’m sure your wife loved that time. I’ve seen it. She said, “Well, how much money do you have down?” I said, “Well, that’s the thing. Today’s quick tip. What’s up in California, David? For a long time real estate investing was a niche thing that only a few people could get into because they have the knowledge that you didn’t have. It’s one thing we have been skilled about in some of that area, seeing the forest through the trees. People meet us and they’re, “Oh, my God. I am currently taking my 90 day Challenge. I told her, I said, “I just want more expensive real estate.”. If you spend any time with that individual, by the end of lunch, I figured, “Hey, I should sell real estate for a living.”. Brandon Turner: That’s cool. So, walk us through the very first investment property that … What was it? It’s be a recorded note against that property. Brandon Turner YouTube Channel Analysis & Subscriber Growth Statistics. Il grandit à son rythme et cette nuit, Brandon Ingram a fait connaissance avec le phénomène défensif. This time, we’re joined by co hosts, David and Brandon, live from the Sea Shed in Maui! So, David, I’ll let you take the last question and then we’ll wrap this thing up. Robert Jones: So, at closing, we actually got paid. I was like, “Let me try this again. Now, he owns a good number of doors in Arizona and is kicking butt on owning what most people would consider a loser and take their chips and go home. Robert Jones: Again, it doesn’t suck. The sky is falling. If you’re interested in learning more about Self-Storage investing, please check out our blog: selfstorageincome.com While in college for history, Brandon rented out some rooms in his apartment to make some extra money and that’s how he got started. We taper down or I could see us going one of two directions but they’re vastly different. Robert Jones: I like big, bushy beards and I cannot lie. That’s the balance. Things were getting a little intense as far as hours worked, stress level, buying the rentals and all that. It had a larger yard for our dog. So, two weeks later, we found a four-bedroom single family house. You’re going to be blown away by this deal deep dive on how good of a deal it was but how not good of a deal was when he first bought it. When we started in real estate in 2008, we had $900 in our checking account. with Mark Hentemann (Writer for TV’s Family Guy! I like that find a why. What is [crosstalk 00:08:57]? Robert Jones: Yeah. I was doing all that. You got to go get that, Ryan. Brandon Turner and David Greene! Robert Jones: What else? Robert Jones: Hobbies? What a great episode!! Completely relatable and just another one to show how anybody can get started and have success. I’m not okay with that.”, Robert Jones: So, the risk-tolerant standpoint was part of it. You can’t forget it. Robert Jones: People don’t want to go ask. Brandon Turner is a entrepreneur from Washington, United States. Then, it, as the market goes up …. Nice catch. Brandon Turner: She said she’ll help, yeah. Brandon Turner: I don’t think we’ve talked about … I don’t know if anyone’s ever used that word bravery before here on the show for that, answer that question. Robertforrealestate. Robert Jones: … and now we’re at 26 doors which, like I said, most of that’s professionally managed, so it’s running pretty smooth. You want to take it? So, on the management side, that helps significantly. Yeah. That’s what I tell all my clients. Read more. Even through all that, we still did nine moves in eight years, which it was moving a lot, which I enjoy. Brandon Turner: And if people are wondering what that means about the capital gains thing, I’ll explain that real quick. Robert Jones: To all the conventional guidelines. And I feel we’re definitely still on this journey. David Greene: So, thank you, Brendon, for asking that because I think a lot of people think, “Well, I want to get my license to save money on commissions when I have to sell a house.” You’re assuming that you know how to sell a house, that you’ll actually do it better than someone who’s good at it and that you’re not taking effect all the fees you’re going to be paying to hold that license for the entire time. I didn’t even know that it was a path that I could take, so decided to go into sales first. Robert Jones: That’s a pretty nice way to say it. Yeah. Brandon Turner: But there is something to say. If any deal doesn’t work over a number of 10 to $15,000, you shouldn’t be investing in real estate. Well, that’s getting real easy. For people that know Fort Collins, it’s on Mountain Avenue. Companies. Brandon Turner: So, let’s shift a little bit. Dec 26, 2020. Well done. We needed to come up, then shift it to an investor loan so we needed $90,000 in three days because the seller had a higher offer. David Greene: That’s so cool. Robert Jones: You’re great at selling things. My mom helped us when we were gone for that first trip. David, you’re an agent. You also, I want to make sure I cover the strategy. We found someone that, yeah, they’d get the loan done under Sarah’s income alone which, at that point, in Fort Collins looking for a house under $150,000 it was quite challenging. What is he doing?” When you get that perspective, that’s when you can start taking advantage of these other opportunities but you do need to get those first few deals which do need the cash flow. Brandon Turner: So, just because we’re talking this conversation now doesn’t mean everyone listening is like, “Oh, screw it. Robert Jones: Yeah. Look at this thing. Robert Jones: Yeah. He was born in 1980s, in the middle of Millennials Generation, and in the Year of the Ox. She said she’ll help with the loan.”. Robert Jones: So, even writing through a dog that went through pretty cyclical market but that was one of his first rentals of getting his feet wet. Brandon Turner: All right. We bought that triplex and, another eye-opener for us, we were planning on moving into it. I mean, I don’t think I’ve taken a vacation in four years that I didn’t do a BiggerPockets webinar during the middle of it, every single week because it’s such a valuable thing both in terms of helping people and something I like doing and it helps BiggerPockets grow as well. Robert Jones: So, owned one house when I got into real estate. BAD 1 - 2 POOR 2 - 3 FAIR 3 - 4 GOOD 4 - 5. What tablet do you have? We didn’t know what we didn’t know. Brandon Turner: All right. He wanted to get out of the deal, so he wasn’t adjusting dates for us or doing us any favors. You just got to get through enough nos to find the guy that says, “Yes,” which … But if you’re in that situation, who cares if your credit score gets screwed up. That didn’t hurt. Reviewed in the United Kingdom on January 20, 2019 . Big thanks for our sponsor always. I'm a fan of video games, politics, and old films. David Greene: You know what’s crazy about this? Every single property we own except one is in Fort Collins. I think those are all really just good points that he makes today. Walk us through that again because that’s really, really good stuff and it’s really deep. Entire $ 30 per month free in the grindstone are selling five, six homes a year s no any! 40,000 there, recorded the notes or 45 so that ’ s like, “ well, very house... Were getting a little bit more different maintenance they were around when I started calling, anybody can get additional... Digging into that creates systems and systems create freedom communicate about maintenance issues my advice anybody. 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