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BiggerPockets Podcast 163: Making Your Real Estate Business Soar While Working a Full-Time Job with Bill Allen

BiggerPockets Podcast 163: Making Your Real Estate Business Soar While Working a Full-Time Job with Bill Allen

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Having a full-time job can make investing in real estate tough. However, with the right systems, people, and plan, your business can thrive no matter how few hours you have to dedicate towards it! In this episode of the BiggerPockets Podcast, we sit down with Bill Allen, a navy pilot who’s done just that in a very short time. We talk about hiring your first employee, finding good deals, using low down payment loans to fund your deals, and a lot more. If you are looking to make your real estate business launch into the stratosphere, don’t miss a moment of this show!

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This Show Sponsored By

We just waRealtySharesnted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

Learn more by visiting RealtyShares.com/biggerpockets!

Fire Round Sponsor

mileiq-logoA huge thanks as well to our Fire Round sponsor MileIQ.

MileIQ is an automatic mileage tracker that tracks the miles you drive for business. By using smart drive-detection technology, MileIQ automatically logs your drives and calculates their value – automatically creating a mileage log that’s compliant with IRS guidelines.

Try it for free today by texting POCKETS to 31996.

In This Episode We Cover:

  • What Bill does aside from being active duty in the U.S. Navy
  • How he got into the real estate world
  • The importance of being able to walk away from a house
  • What you should know about the housing assistance program
  • His $185k loss in an investment
  • The difference between buying rentals and buying primary residences
  • His first investment property
  • What exactly a VA loan is
  • How he uses VA loans creatively to finance his investing
  • How to treat real estate as a business
  • Mistakes on his first flip and what he could have done better
  • How Bill got private money despite not having deals under his belt
  • Tips for flipping while having a full time job
  • How to structure your business to maximize the potential in your market
  • Considerations while hiring your first employee
  • The importance of setting task lists
  • How to incentivize those you hire
  • How many deals has Bill done
  • Thoughts on diversifying your business
  • Tips for creating a good website
  • How to funnel your leads
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “It’s not emotional. I buy it as an investment property.” (Tweet This!)
  • “If they can do it, I can do it.” (Tweet This!)
  • “Know what the value of something is before you pay for it.” (Tweet This!)

Connect with Bill