BiggerPockets Real Estate Podcast

BiggerPockets Podcast 179: Doing the “Impossible” by Buying 100+ Units in His First Two Years with Dale Hensel

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What stops most people from achieving massive success through real estate? Money? Cheap properties? Knowledge? According to our guest today, it’s fear. That’s why we’re excited to introduce you to Dale Hensel, an investor who’s done everything from single family to multifamily to notes and a LOT more. You’ll be amazed at the simple way Dale used his “ignorance” that something should be hard to build several large, successful businesses — including one real estate company he took public!

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PATLive-LogoWe just wanted to give a shout out to our podcast sponsor on today’s show: PATLive. PATLive's team of superstar receptionists will always leave your customers delighted. Every agent goes through a rigorous training course before they can answer calls, and we've got quality assurance down to an art.

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Fire Round Sponsor

MACK-INV-logo_OverviewA huge thanks as well to our Fire Round sponsor MACK.

MACK Investments is the nation’s longest tenured turnkey operator with over 38 years of combined experience, with its fully vertically integrated operation in the US’s most diverse economy, Chicagoland. With over 2000+ homes under management, we serve over 300+ investors across 11 different countries. Homes are priced below 200 thousand and will generate a guaranteed CAP averaging 9% that can be leveraged to achieve returns in excess of 20%.

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In This Episode We Cover:

  • Dale’s very first house that he bought in 1996
  • How hitchhiking led him to figuring what he wanted
  • How he achieved 250 apartments in two and a half years!
  • The need for being confrontational in this business
  • The cool story of how he got started as a landlord
  • How he added multiple properties just because he has no money
  • What exactly a “wrap” is
  • The 3 important pieces of paper in a real estate transaction
  • The benefits of not knowing what’s “impossible
  • The difference between performing and non performing notes
  • A discussion about his public company
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “I didn’t know that it was supposed to be hard or impossible, so I bought 250 apartments.” (Tweet This!)
  • “I don’t have a filter that says ‘Well, they did it, I can’t.” I have filter that says, ‘If they did it, so can I.'” (Tweet This!)
  • “Take measured, gentle risk until you can push yourself a little further, and realize that you can go a lot further than you ever thought!” (Tweet This!)

Connect with Dale

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.

    Replied over 3 years ago
    This was HANDS DOWN the most useful/helpful/encouraging episode I\’ve listened to yet (I have only been listening about 3 months). You all need to have this guy in again – or just have him do like a 4 hour autobiographical podcast!
    Vik Divinets Investor from Portland, Oregon
    Replied almost 3 years ago
    So true – I got inspired BIG TIME!!!!!! – how Dale just has this simple approach towards taking massive action on ventures that seem super risky, but he makes it look so easy. Very fascinating.
    Ken Truong from San Diego, California
    Replied over 3 years ago
    Hi Dale (Zen Dolphin), what an amazing podcast! I really enjoyed the show. I’ve been a long time passive reader of the Fastlane Millionaire forums and your a Legend there! I didn’t realize the scope of your real estate experience from reading that forum. I was curious you mentioned briefly about speaking with inherited property owners, you didn’t go too much on how to secure a deal. I have an opportunity with a Friend of mine, her Uncle inherited a property and looking to sell soon. I would love to connect with you if you can give me any guidance on the process you would use. As a side note, I’m newbie in real estate investing. Any help would be appreciated.
    Dale Hensel Real Estate Investor from corrales, nm
    Replied over 3 years ago
    pretty much, Its about asking. just ask them. do they want to sell? IF YES, then ask, can we structure it so it doesn’t hurt your taxes too much? If yes, then sit down with a CPA and ask how you can structure it for them for best effect. start there. Z
    Kandi Alston from Gastonia, NC
    Replied over 3 years ago
    Awesome podcast, love the show!
    Sharyn Umaña-Angers from San Diego, California
    Replied over 3 years ago
    I have to say that this is one of the best, if not THE best podcast I’ve listened to so far. Of course, the practical information was great, no doubt about it. But it was Dale’s ATTITUDE that really resonated with me. Especially since I’m currently reading “Think and Grow Rich,” Dale seems to embody ALL 13 steps — and without even knowing it! It just goes to show what you can accomplish when you have no fear and no knowledge of the word “impossible.” Great show!
    Chris T. Investor from Downers Grove, Illinois
    Replied over 3 years ago
    Thank you Dale, Josh and Brandon. This is 1 of my favorite podcast and I loved your story especially on how you explained the whole picture about the banking and fiance industry. Successful people do things that most people don’t want to do. And your experiences and attitude reinforces that.
    Brian Turnbough Investor from Big Spring, Texas
    Replied over 3 years ago
    The best show yet. Thanks Josh and Brandon for bringing Dale on! You should definitely have Dale on again.
    Sam Y. Investor from Union City, California
    Replied over 3 years ago
    Great show guys! love it! What I didn’t catch was if Dale still own those 200+ units apartment these days? Just wondering for someone who started out early buying 200+ apartment units and then move on to do many other great things later still have the time during that transition to watch over the apartments either using PM or self managing? Was the apartments sold out before moving to the next step?
    Aaron Vergason Rental Property Investor from Erin, NY
    Replied over 3 years ago
    Dale, Great P.M.A.! Also, when you were just buying up all these units because you didn’t know any better, who was managing them? I know your mom painted them and you bought more, but who was handling collecting rent, paying bills, evictions, etc.? Did you do all that without knowing what you were doing?
    Replied over 3 years ago
    Hey Dale, What are some contemporary strategies and methods of implementation (for amassing property) that you can share with someone entering the REI world? Things are constantly changing- what can you adivse to keep our heads from underneath the water? Also- can you recommend some sources you use to research different markets and keep up with business trends? Thanks!
    Dave Visaya Audio Engineer and Investor from Cebu City, Cebu
    Replied over 3 years ago
    The episode reminds me of a quote — those who are crazy enough, they’re the ones who actually do it. 🙂
    Jon Sanborn from Philadelphia, Pennsylvania
    Replied over 3 years ago
    One of the best shows, thanks Dale, Josh and Brandon! Great insight into note purchasing/investing. My question is- do you need to be an accredited investor or a publicly traded company to purchase non performing notes from banks? I know you (Dale) did it with $40,000.
    Lawson Ott Investor from Connersville, Indiana
    Replied over 3 years ago
    what is this “bond proof flooring” the guest mentioned?
    Bhuvanandra S Kumar Investor from Macomb, Michigan
    Replied over 3 years ago
    I have listened to a few podcasts and this one is outstanding. I wish Dale had more information on the Assisted Livings he owns. Where can I get more information as to why he choose that and how he got involved in that sector?
    Joshua Keene from Mission Viejo, California
    Replied over 3 years ago
    Great show! This man Dale Hensel knows no fear, it simply does not exist in his world. The energy and attitude that he has is astonishing. I would be delighted to see him again in a future podcast!
    Kalonji Mitchell Specialist from Chicago, IL
    Replied over 3 years ago
    One of the best podcasts I’ve heard on ANY forum. Dale, it’s like you have lived and/or following my exact path. Thank you for such an amazing, inciteful and (more importantly) motivational podcast.
    Cameron Benz from Puyallup, Washington
    Replied over 3 years ago
    Dale is one of my all time favorite people and I say that as someone who has met him. His energy is infectious. Truly a great guy and it’s good to see him here.
    Julie Marquez Investor from Seattle, WA
    Replied over 3 years ago
    Whoa, that podcast blew my mind. Great guy with so much information and a passion to sharing and helping others. Now, I just wish I didn’t know anything and just went for it. I am my own worst enemy at this point. Dale, way to just go for it and get it done, you have a great story!
    Jason Ramer Investor from Kalamazoo, Michigan
    Replied about 3 years ago
    Just listened to this Podcast for the 1st time, and this is the best Podcast I have listened to on BP. Very cool, very intelligent, and someone you just want to listen to and hang out with. Awesome interview.