BiggerPockets Real Estate Podcast

BiggerPockets Radio Podcast 001: Building a Successful House Flipping Business and Losing Millions with Marty Boardman

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Today we’re excited to announce the launch of the brand new BiggerPockets Radio Podcast. Each week, we will be bringing you incredible real estate investing tips, training, and interviews with actual investors who are in the field, making it happen. You can listen online (below), download it to listen later, on your smartphone, or via iTunes: all for free.

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Last week, Marty Boardman wrote a killer post for the BiggerPockets blog called “How to Lose a Million Dollars in Real Estate: A Step by Step Guide” which was an instant hit among BiggerPockets readers. We knew that Marty would make a great first guest on the new show.

Read the transcript of Episode 1 with Marty Boardman here.

Listen to the show here or on iTunes:

Listen to the Podcast Here

In This Week’s Podcast, We’ll Explore

  • How Marty Lost over $8,000,000 in the Real Estate Crash
  • The Best Advice Marty Ever Received about Real Estate Investing
  • How to Find Local Mentors to Teach, Train, and Bring You Under Their Wings
  • How to Quit Your Job and Become a Full Time Real Estate Investor
  • Using The Four Flipping Boxes to Flip Houses
  • How to Raise Private Money for Your Real Estate Investing Deals
  • Why Wholesalers Do Not Need a Buyer’s List – and What They Do Need
  • The Four “Must Haves” in a Real Estate Partnership
  • How Marty Got a Book Deal for a new House Flipping Book
  • Marty’s Favorite Real Estate Investing Book

Links from the Show:

Books Mentioned in the Podcast

Tweetable Topics:

  • Quit wasting time and money having gurus teach you real estate investing. Find someone local, add value to them, and learn. Tweet This
  • I’ll work with anyone – but they gotta do 1 of 2 things: bring me money, or bring me deals.Tweet This
  • Investing in real estate is hard work – but it’s rewarding. Tweet This
  • Think about your financial goals – and then work backward to figure out what to do now. Tweet This
  • Creating a brand for yourself is vitally important for a fix-and-flip investor.Tweet This
  • You have to have a good track record to raise capital. Tweet This
  • Find a good deal – and the money will come. Tweet This

Marty is the Chief Financial Officer for Rising Sun Capital Group, LLC, a real estate investment firm based in Gilbert, AZ. His firm purchases homes at the courthouse steps and public REO auctions. They have two exit strategies, either fix and flip or seller financing. Connect with Marty on his Blog, FlippingPhoenixHouses.com.

If you missed the link above, listen to the show here:

Real strategies that work for real people seeking to build wealth through real estate investments. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals, who chat about failures, successes, motivations, and lessons learned.

    Max
    Replied almost 7 years ago
    Brandon, You wrote “…or via iTunes: all for free” Can you please paste a hyperlink to iTunes? I cannot find it,or maybe it is not available for Poland. Did you upload it already? Thanks Max
    Joshua Dorkin
    Replied almost 7 years ago
    Max – You can now get the post on iTunes at https://itunes.apple.com/us/podcast/biggerpockets-podcast-real/id594419649. Thanks again for the interest and please take a minute to rate the podcast when you do subscribe.
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Max – The show will be available on iTunes shortly. Unfortunately, it take a little while (around 24 hours or so, from what we understand) for iTunes to add you. Once they do, we’ll update the post. In fact, I’m about to make a note up top to let people know. Until then, you can listen via the embedded player on the post itself or can download the MP3. Thanks for the interest!
    Joshua Dorkin
    Replied almost 7 years ago
    Max – You can now get the post on iTunes at https://itunes.apple.com/us/podcast/biggerpockets-podcast-real/id594419649. Thanks again for the interest and please take a minute to rate the podcast when you do subscribe.
    Wendy
    Replied almost 7 years ago
    RSS link please.
    Brandon Turner
    Replied almost 7 years ago
    Hey Wendy – we are still getting all the kinks worked out, but this should be the RSS feed: https://www.biggerpockets.com/renewsblog/category/podcast/feed Can you let me know that it works for you? Thanks!
    Wendy
    Replied almost 7 years ago
    Worked like a charm! I use BeyondPod on my Android phone. Thanks!
    Joshua Dorkin
    Replied almost 7 years ago
    I’m glad to hear that it worked, but what did you think, Wendy?
    Wendy
    Replied almost 7 years ago
    I try not to judge a podcast until it’s had a few episodes. Since this is your first, I say this with the understanding that you are still working out the kinks. (and I’ve only heard the first 5 minutes so far) Audio is almost as important as content to me. The audio on the lead in was perfect. Clear and crisp. Josh, your audio was slightly muffled. Clear, but cloudy. Brandon’s audio was clear and crisp. Throughout the podcast there was clipping, almost like call waiting was beeping in. It didn’t happen during the lead in. Marty was a great guest! Humble man with lots to teach us. If you ever run out of content, I would be happy to have to cover some threads from the forum.
    Brandon Turner
    Replied almost 7 years ago
    I’ll blame me for Josh’s sound – I had the levels too high and didn’t realize it until we were finishing! Oops! Compare next week’s with this one, and let us know if you notice a difference. Not sure about the clipping – I’ll check into it 🙂 Thanks Wendy for the feedback!
    Wendy
    Replied almost 7 years ago
    Josh, My mistake about the clipping. My player is doing it to all feeds. Odd, first time it’s ever done this and it had to be when I was listening to a new podcast. Sorry. Also, I mistyped earlier. If you ever run out of content, I would be happy if you discussed threads from the forum.
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Wendy – No problem on that . . . there were some minor sound issues and I thought they were amplified for you for some reason. I’m glad to hear there isn’t a problem. I don’t think we’ll ever run out of content. With hundreds of thousands of topics on BiggerPockets to choose from, I think we’ll be okay for a little while at least! 😉 Thanks again for the feedback!
    Brandon Turner
    Replied almost 7 years ago
    I’ll blame me for Josh’s sound – I had the levels too high and didn’t realize it until we were finishing! Oops! Compare next week’s with this one, and let us know if you notice a difference. Not sure about the clipping – I’ll check into it 🙂 Thanks Wendy for the feedback!
    Wendy
    Replied almost 7 years ago
    I try not to judge a podcast until it’s had a few episodes. Since this is your first, I say this with the understanding that you are still working out the kinks. (and I’ve only heard the first 5 minutes so far) Audio is almost as important as content to me. The audio on the lead in was perfect. Clear and crisp. Josh, your audio was slightly muffled. Clear, but cloudy. Brandon’s audio was clear and crisp. Throughout the podcast there was clipping, almost like call waiting was beeping in. It didn’t happen during the lead in. Marty was a great guest! Humble man with lots to teach us. If you ever run out of content, I would be happy to have to cover some threads from the forum.
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Wendy – We just got accepted into iTunes. Here’s the link: https://itunes.apple.com/us/podcast/biggerpockets-podcast-real/id594419649
    Wendy
    Replied almost 7 years ago
    RSS link please. Reply Report comment
    Daniel
    Replied almost 7 years ago
    Hey guys – first of all, I am super excited that you’re venturing into the podcast world. I am starving for high quality podcasts, and am hopeful that you’ll put out some good ones! Question: when I click the “download” link, it opens a new window with the file playing, but it doesn’t actually start a download onto my machine, or take me to a link where I’m able to download it – unless I’m missing something? Please advise – thanks.
    Brandon Turner
    Replied almost 7 years ago
    Hey Daniel, Try “right clicking” on Download and select “Save Link As” or something similar (I’m on a Mac, and that’s the option I have… a PC should have a similar choice) and let me know if that works for ya.
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Daniel – It looks like the other guys have given you some good advice on downloading. The podcast is now officially on iTunes. You can subscribe at: https://itunes.apple.com/us/podcast/biggerpockets-podcast-real/id594419649 Thanks again for the interest!
    Brandon Turner
    Replied almost 7 years ago
    Hey Daniel, Try “right clicking” on Download and select “Save Link As” or something similar (I’m on a Mac, and that’s the option I have… a PC should have a similar choice) and let me know if that works for ya.
    Tim
    Replied almost 7 years ago
    @Daniel: If you right click on the “Download” link, you can click “Save Link As” which will then save it to your machine as an mp3 file. Hope this helps!
    Brandon Turner
    Replied almost 7 years ago
    Haha thanks Tim! Great minds…
    Jeff Brown
    Replied almost 7 years ago
    I love that my initial impression of Marty, when we first met in person at last year’s BP convention, was spot on. This podcast is knowledge, expertise, and experience on parade. Reply Report comment
    Jeff Brown
    Replied almost 7 years ago
    I love that my initial impression of Marty, when we first met in person at last year’s BP convention, was spot on. This podcast is knowledge, expertise, and experience on parade.
    Joshua Dorkin
    Replied almost 7 years ago
    Awesome, Jeff! I’m not sure how you remember the BP Summit, but I’m glad you have fond memories of Marty at the very least. Thanks for the feedback!
    Jeff Brown
    Replied almost 7 years ago
    I love that my initial impression of Marty, when we first met in person at last year’s BP convention, was spot on. This podcast is knowledge, expertise, and experience on parade. Reply Report comment
    Jeff Brown
    Replied almost 7 years ago
    I love that my initial impression of Marty, when we first met in person at last year’s BP convention, was spot on. This podcast is knowledge, expertise, and experience on parade.
    Glenn Espinosa
    Replied almost 7 years ago
    Great Podcast guys! Thanks to Marty for coming on and sharing his expertise and putting his failures out there for everyone to learn from. It takes a different type of investor to look at ones failures and to learn from it and more so to share the lessones learned to others. Can’t wait til the next one. Glenn
    Joshua Dorkin
    Replied almost 7 years ago
    Awesome feedback, Glenn. It was definitely brave of Marty to share this story with everyone. We’re glad to have had the opportunity to talk with him.
    John E
    Replied almost 7 years ago
    Guys, first off congratulations! Also awesome episode? I cant wait to listen to more BiggerPocket members and all of your episodes. So who are all on the future podcast guest list?
    John E
    Replied almost 7 years ago
    Guys, first off congratulations! Also awesome episode? I cant wait to listen to more BiggerPocket members and all of your episodes. So who are all on the future podcast guest list?
    John E
    Replied almost 7 years ago
    Guys, first off congratulations! Also awesome episode? I cant wait to listen to more BiggerPocket members and all of your episodes. So who are all on the future podcast guest list?
    Joshua Dorkin
    Replied almost 7 years ago
    Thanks so much, John! We’re excited to have a great interested audience of people like yourself. I can’t hint to future guests yet, but perhaps in the future we’ll do something like that. Next Thursday we’ll be releasing the next one, so stay tuned!
    John E
    Replied almost 7 years ago
    Guys, first off congratulations! Also awesome episode? I cant wait to listen to more BiggerPocket members and all of your episodes. So who are all on the future podcast guest list? Reply Report comment
    Jeffrey Hall
    Replied almost 7 years ago
    Excited to listen to this at work today!
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Jeffrey – Did you end up listening? What are your thoughts? We look forward to your feedback!
    Kris Knight
    Replied almost 7 years ago
    Nice job! Content was great, and I really like having the links to content posted right with the audio clip. Maybe next week I’ll head over to iTunes to try it.
    Brandon Turner
    Replied almost 7 years ago
    Thanks Kris! I’ve always thought that links help a lot – and I’m surprised more people don’t use them! Also – did you notice the “Tweetable Topics” section? I’m a big fan of that too, because I’m kinda a Twitter junkie! Don’t forget to leave us an iTunes review! Thanks for listening and commenting!
    Nichole
    Replied almost 7 years ago
    This was AWESOME!! The first time I have heard anyone say, “Just find Deals!” Now, I KNOW what my focus is!! Do the things that will help me FIND deals, first and foremost! YES! Thank you so much for this! I wish the 3 of you would write a non-nonsense, cut the fluff, guide to wholesaling, cause that’s the best rubber to the road advice I’ve read! Thanks again! n
    Brandon Turner
    Replied almost 7 years ago
    Hey Nchole – thank you! I, too, learned a lot being able to pick Marty’s brain! He knows his stuff. This was a super nice comment – and I wouldn’t complain if you left a similar one on iTunes … 😉 Thanks Nichole!
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Nichole – Thanks for the great feedback! We really appreciate it. I’m not sure if you’ve taken the time to read through the articles here on the BiggerPockets Blog or if you’ve spent any time on our forums, but if you do, you’ll find a ton of great content like you did in the podcast. As for your idea . . . don’t worry — we’ve got something up our sleeves! Last thing, please do take the time to stop by iTunes and leave the podcast a review. Every one helps! I’ll look forward to seeing you on the main BiggerPockets site and hope to see you contributing on the forums.
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Nichole – Thanks for the great feedback! We really appreciate it. I’m not sure if you’ve taken the time to read through the articles here on the BiggerPockets Blog or if you’ve spent any time on our forums, but if you do, you’ll find a ton of great content like you did in the podcast. As for your idea . . . don’t worry — we’ve got something up our sleeves! Last thing, please do take the time to stop by iTunes and leave the podcast a review. Every one helps! I’ll look forward to seeing you on the main BiggerPockets site and hope to see you contributing on the forums.
    Derek
    Replied almost 7 years ago
    Good information thanks. Ordering the book today.
    Brandon Turner
    Replied almost 7 years ago
    Thanks Derek!
    Joshua Dorkin
    Replied almost 7 years ago
    That’s great to hear, Derek. Enjoy!
    mona
    Replied almost 7 years ago
    Great talk! I’m an investor and I’ve been meaning to get my license. I needed the extra push so great tip. Keep the solid speakers coming!
    mona
    Replied almost 7 years ago
    Great talk! I’m an investor and I’ve been meaning to get my license. I needed the extra push so great tip. Keep the solid speakers coming!
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Mona – Thanks for the message and for listening to the podcast. If you get a second, please do leave a review on iTunes for the show . . . every positive review helps us get a little more visibility.
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Mona – Thanks for the message and for listening to the podcast. If you get a second, please do leave a review on iTunes for the show . . . every positive review helps us get a little more visibility.
    Sky Minor
    Replied almost 7 years ago
    I love the honesty! Its so refreshing to hear the truth about this business not some overpriced and inaccurate “guru” fluff.
    Joshua Dorkin
    Replied almost 7 years ago
    Thanks Sky! Make sure to check out our second show as well . . . we’re going to be putting this show on for the foreseeable future, so get ready for a ton of great learning from people who are actually doing it!
    sheree
    Replied almost 7 years ago
    Gosh I think I’ve just fallen in love. Thanks for sharing honest and frank information. I’m brand new, trying to figure out where to start, out a couple hundred bucks to gurus, and just amazed by BiggerPockets. Again, a big Thank You! I’m off to go make myself a member. 🙂
    Joshua Dorkin
    Replied almost 7 years ago
    Sheree – Thank you for the awesome message! I’m glad you enjoyed the show and I hope you’ll check out show #2 as well . . . subscribe on iTunes and each week when a new one comes out, you’ll have it. As for jumping on the site, please do. Once you have your profile set up, introduce yourself on the New Member Forums and then get involved in the many discussions on site. You’ll find all the help you need over there.
    Mark Brogan
    Replied almost 7 years ago
    Loaded with great info Thanks for this great website and podcast Thanks Marty,Brandon and Josh Best info site I have ever came across Mark
    Joshua Dorkin
    Replied almost 7 years ago
    Hey Mark – Thanks so much for the comment! I’m glad you like the site and enjoyed the podcast. Be sure to check out the next episode as well . . . we’ve got a lot more to come! If you have a second, we’d love if you could take a minute to review the show on iTunes . . . every review/rating helps us get more exposure. Otherwise, please jump in and join us on our main site – the social network for real estate investors at BiggerPockets.com — you’ll find that it is an incredible place to connect with your peers. Best, Josh
    Terry H
    Replied over 6 years ago
    Wow. What a great podcast. Everything Marty said hit home with me. I am going into real estate understanding that it will take education and a lot of hard work to succeed, just like he said. What an inspirational and motivating story Marty has. To go from a net worth of 8 million to -2 million must of been devastating. I’m sure many people would not have been able to handle that, but Marty makes it clear that you can get through any “rough patch” (to understate it a bit) if you remain persistant. I look forward to the day when I have $8 million to lose! I’ll make sure I check out that book “Rich Dad Poor Dad” and again, awesome podcast. I will certainly listen to them all. Terry
    Terry H
    Replied over 6 years ago
    Wow. What a great podcast. Everything Marty said hit home with me. I am going into real estate understanding that it will take education and a lot of hard work to succeed, just like he said. What an inspirational and motivating story Marty has. To go from a net worth of 8 million to -2 million must of been devastating. I’m sure many people would not have been able to handle that, but Marty makes it clear that you can get through any “rough patch” (to understate it a bit) if you remain persistant. I look forward to the day when I have $8 million to lose! I’ll make sure I check out that book “Rich Dad Poor Dad” and again, awesome podcast. I will certainly listen to them all. Terry Reply Report comment
    Terry H
    Replied over 6 years ago
    Wow. What a great podcast. Everything Marty said hit home with me. I am going into real estate understanding that it will take education and a lot of hard work to succeed, just like he said. What an inspirational and motivating story Marty has. To go from a net worth of 8 million to -2 million must of been devastating. I’m sure many people would not have been able to handle that, but Marty makes it clear that you can get through any “rough patch” (to understate it a bit) if you remain persistant. I look forward to the day when I have $8 million to lose! I’ll make sure I check out that book “Rich Dad Poor Dad” and again, awesome podcast. I will certainly listen to them all. Terry
    Jason Eyerly
    Replied almost 6 years ago
    Hello! Marty said access to the MLS in essential even if you don’t plan on making offers or listing (which I do) and it’s much easier to look at comps and such yourself and so he STRONGLY recommends getting your real estate salesperson license. I’ve looked up what’s required in my state, but I still don’t understand this MLS thing. I thought MLS was just looking at websites like Trulia, Zillion, Realtor, etc. What happens or changes if I get the license? What does it allow me to do that I wouldn’t be able to otherwise? Thanks! Best Regards, Jason Eyerly
    Anantha Lakshmi
    Replied over 5 years ago
    Being a newbie, after posting the intro, thought will start with the podcasts. Found it odd to see that the first podcast title to have some negativity “losing millions” 🙂 Thought – why would someone want to start the very first podcast with such a title. Listening to him, I am very impressed at the honest discussion. It helps to know both successes and failures – one can learn what to do and what not to do from our own experience as well as others. Now on to the second podcast !!!
    Billy Cones from Harker Heights, Texas
    Replied about 5 years ago
    I decided to go back and start at the first podcast. Lots of good information and advice. Thanks again for having all your podcast available.
    Sovannary O. from los angeles, California
    Replied almost 5 years ago
    I’ve listened to this podcast 3 times now and every time I see a new perspective. Thanks for all of the great tips & tricks!
    Michelle Cobbs Investor from Copiague, New York
    Replied over 4 years ago
    Great Show, Learned alot thanks for the honestly Marty. Looking into getting RE License the tips presented make sence to go this route. I would rather be in a position to get this info myself instead of having to work with a agent. Great stuff. Michelle
    Luke Teson Investor from O Fallon, MO
    Replied about 4 years ago
    Very interesting podcast love the quality of the audio and more importantly the information in it! I love the four box flipping idea, and now understand that I need to automate these with workers; so working now on documenting the systems I use so I can train others to replace myself. I could not agree more about not paying the guru’s for their knowledge and finding a mentor in your area. Ever since linking with @Ryan Billingsley in my area (who showed me this website) I have learned more real world knowledge than any other place! Very enlightening on getting my licensing to be an agent I had no idea this would be so crucial! Going to get that going soon, any good places to acquire that info for Missouri agents? Great podcast looking forward to the next one!
    Serj Kalfayan Real Estate Agent from Studio City, California
    Replied almost 4 years ago
    Great Post! Just was browsing through the podcasts and decided to check out the very first one – still so relevant! I’ve just started getting mentored/working with a real estate investor and am so challenged and excited to find ways that I can add value to my investor’s business. This is where creativity, resourcefulness, and commitment come into the picture. I think it absolutely necessary maintain a “Win/Win” mentality (another Covey quote), and instead of leaching off of someone’s success and expecting them to pass on their experience for free, earn your keep. This will give you exposure, experience, and a taste of what you claim to want before you dive in head-first. Thanks for this awesome material!
    Julie Marquez Investor from Seattle, WA
    Replied over 3 years ago
    Hey Marty! I went from 65 to current, and now I’m starting at #1. What a great first BP podcast. Marty, I really appreciate everything you went through and your story. It’s encouraging for sure. Thanks for sharing your story, it’s still so relevant today!
    Account Closed from Chiriquí, Chiriquí
    Replied about 3 years ago
    Great show Marty! Thanks for shearing those valuable lessons
    Alexis Murrell from Philadelphia, Pennsylvania
    Replied about 3 years ago
    I absolutely loved the first show. I have taken notes with some basic strategies that I can use for life in the real estate business. Thanks again Marty for your time and wisdom! I wish you and your family much success.
    Ben Simon Rental Property Investor from Pittsburgh, PA
    Replied almost 3 years ago
    It appears the download links no longer work, even when right clicking and going to save as? I was trying to start from the beginning on pocket casts and I guess this is why it couldn’t play it on there.
    Nathan G. Real Estate Broker from Cody, WY
    Replied over 2 years ago
    I have a co-worker that just started to listen to the podcasts and she decided to start with #1. I heard good things about it and decided I will back up and start from the beginning as well. I liked the show but I’m curious how Marty went from driving a Mercedes to a beater Honda? I understand the market crashed and all of his properties would have lost value. That should have impacted his net worth, but why did it impact his cash flow? I mean, if he’s holding 60+ properties and renting them out, his net worth would drop but his rent income would remain the same, right? This wasn’t really explained in the podcast. Other than that, it was a fun episode and I like Marty’s advice. Well done!
    Nathan G. Real Estate Broker from Cody, WY
    Replied over 2 years ago
    I have a co-worker that just started to listen to the podcasts and she decided to start with #1. I heard good things about it and decided I will back up and start from the beginning as well. I liked the show but I’m curious how Marty went from driving a Mercedes to a beater Honda? I understand the market crashed and all of his properties would have lost value. That should have impacted his net worth, but why did it impact his cash flow? I mean, if he’s holding 60+ properties and renting them out, his net worth would drop but his rent income would remain the same, right? This wasn’t really explained in the podcast. Other than that, it was a fun episode and I like Marty’s advice. Well done!
    Aaron Bernbach from Los Angeles, CA
    Replied over 2 years ago
    I’m new to BP. Decided the best way to go is start from the beginning. You guys started strong! I’m looking forward to seeing where this goes! The 4 Boxes is a real simple way to think about a fix n flip. Lots of great information. Thanks for taking the time do put it all together! and Marty, thanks for sharing your story! A
    TréSina Steger-Smith from White Plains, Maryland
    Replied over 2 years ago
    Going to Look Listen and learn as a new bee in industry. I am new to BP. I have to learn a new language and I am starting from the beginning. Thanks for the information Regards Dr. Tre