BiggerPockets Real Estate Podcast

BiggerPockets Podcast 102: How to Struggle and Still Succeed at Real Estate with Scott Costello

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Have you ever struggled to get to the next level with your real estate investing?

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On today’s episode of the BiggerPockets Podcast, we sit down with real estate wholesaler and self-proclaimed “struggling investor” Scott Costello. In this riveting interview, you'll learn why real estate investing is never as easy as it might appear and how to overcome the struggles that everyone faces to find success. Listen for awesome tips on how to break into the real estate industry, advice on getting into wholesaling, and how to motivate yourself amidst the everyday struggles investors face.

If you’re looking for some great motivation and useful tips, don’t miss this inspiring interview!

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logo_c04f5f61-f5d8-4333-a2b7-a12a07d8bfd3_mediumWe just wanted to give a shout out to our podcast sponsor on today’s show: YellowLetters is a full service marketing company that helps hundreds of BiggerPockets members find more deals and make more money.

Learn more by visiting

In This Show We Cover:

  • How Scott got started in real estate thanks to a book
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  • What took him so long to get his beginning
  • How he used wholesaling to get his foot in the door
  • Why personality matters in deciding what path to take in your investing
  • General advice for wholesalers
  • The ins and outs of starting real estate with a full time job
  • How to find a partner to invest with
  • Scott’s method of targeting absentee owners from tax records
  • What keeps him going as an investor
  • The everyday struggles real estate professionals face
  • Things Scott would have done better if he could do it again
  • The importance of establishing a website
  • The best and worst deals Scott has ever done
  • Tips on using the Internet to market your next wholesale deal
  • And MUCH more!

Links From the Show:

Books Mentioned in the Show

Connect with Scott

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 investo...
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    Scott Costello Wholesaler from Whippany, NJ
    Replied almost 6 years ago
    Thanks so much Brandon and Josh for the opportunity to share my story. Hopefully I was able to give some good advice to people who find themselves in the same situation I am in. Merry Christmas and Happy Holidays Everyone!
    Kimberly Gillock Rental Property Investor from Denver, CO
    Replied almost 6 years ago
    thanks for sharing your story Scott! It’s always refreshing to hear other investors challenges trying to gain momentum– it’s not always easy! I also have to remind myself it’s a marathon, not a sprint. Keep truckin’ and good luck in 2015!
    Scott Costello Wholesaler from Whippany, NJ
    Replied almost 6 years ago
    Thanks Kimberly! It really is a marathon. Some people are only running a 5k, while other people (like myself) are running a full 26 miles. My progress happens from month to month and sometimes year to year. If I look back at how far I’ve come since I started it’s amazing to me. I see some great things for 2015. I may not be able to quit my day job just yet, but I’m seriously setting the ground work to do so. 2014 was a great Pivot year for me and has set me up well for 2015. Best of luck to you and thanks for listening!
    Kevin Hill Real Estate Agent from Westwood, NJ
    Replied almost 6 years ago
    Good job on the podcast Scott!
    Scott Costello Wholesaler from Whippany, NJ
    Replied almost 6 years ago
    Thanks Kevin!
    Israel Quintero Flipper/Rehabber from Phoenix, AZ
    Replied almost 6 years ago
    Great job Scott, this podcast has impact my life in a great way. I can relate with you in many ways. Thanks for showing me that I can start with the direct mail with out having to invest all my savings. This podcast came at the right time to jump start the year 2015.
    Scott Costello Wholesaler from Whippany, NJ
    Replied almost 6 years ago
    Best of Luck to you in 2015 Israel! I’ll be rooting for you
    Logan Allec Accountant from Los Angeles, CA
    Replied almost 6 years ago
    Scott mentioned that he hasn’t found good wholesale deals on the MLS. Wouldn’t that thinking apply to any real estate one pursues, albeit to possibly lesser degrees? Should I even bother looking at the MLS for a live-in buy-and-hold fourplex (my early 2015 goal)? Or just keep sending out these yellow letters?
    Scott Costello Wholesaler from Whippany, NJ
    Replied almost 6 years ago
    Logon, I wouldn’t forget about the MLS. It’s just a strategy that didn’t work for me. I know people who it works for really well. Even ask Brandon, he does fairly good by looking at listings that went under contract but fell out. The thing is that you have to be very active on the MLS to see these things happen. In the end the best strategy is to pick 1 or 2 methods and work those hard. Look in to many directions and you risk missing those “Deals”. Best of luck to you Logan and Happy New Years!
    Craig Horton from Medford, Oregon
    Replied almost 6 years ago
    As a 40 year real estate investor, I loved this Podcast. I am a turtle kind of guy that is buy and hold so can identify with Scott a lot. What I would like to see as Brandon and Scott mentioned they like Cruises is a Real Estate Seminar Cruise sponsored by Bigger Pockets. Is that possible? My Wife and I love Cruises.
    Scott Costello Wholesaler from Whippany, NJ
    Replied almost 6 years ago
    Now a sponsored cruise would be great! As long as they have baby sitting services 🙂
    Replied over 5 years ago
    Great podcast Scott! It’s so nice to hear your story. I really like your advice about real estate investing not being a “race” to the finish line. I definitely agree — everyone has a different path and pace. And, getting there is where we tend to learn the most! Thanks for sharing! 🙂
    Carol Lyons Real Estate Investor from Haverhill, Massachusetts
    Replied over 5 years ago
    Great podcast! Your website is great as well; especially your section Real Estate Investing Websites 101. I like how you have outlined how to get started step-by-step. I am new to the social media and have been feeling a little overwhelmed on how to get started. I have made the first step and registered my domain name today. I am looking at your suggested hosting sites and hope to have made a decision by the end of the day. Thanks, Carol
    Scott Costello Wholesaler from Whippany, NJ
    Replied over 5 years ago
    Hi Carol, Thank you for the kind words! Social media sites like twitter and facebook are far from my strengths. I’ve done better getting sites ranked higher on search results then getting followers on those sites. Like anything else it’s about putting the effort in and learning as you go. If you have any questions feel free to hit me up. Best of luck Carol! -Scott
    Brian Hall Attorney from West Deptford, NJ
    Replied over 5 years ago
    Great show Scott! Great to hear fellow Jersey folk on the podcast.
    Account Closed Entrepreneur from Woodbridge, Virginia
    Replied over 5 years ago
    Great podcast Scott! The information you shared is awesome! I am implimenting changes immediately!!
    Johnny Kang Specialist from New York, NY
    Replied almost 5 years ago
    Scott, I can definitely relate to having a slow start, and listening to your podcast really encouraged me. Thank you for having the courage to share your story. (I’m going to implement something you mentioned towards the end of the podcast; write more articles for my site)