BiggerPockets Podcast 255: Six-Figure Real Estate Investing in Just 20 Hours a Week with Elliot Smith

BiggerPockets Podcast 255: Six-Figure Real Estate Investing in Just 20 Hours a Week with Elliot Smith

2 min read
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How many hours per week does it take to be a successful real estate investor? The answer on today’s episode might surprise you. Today we’re sitting down with Elliot Smith, a real estate investor from Washington State who has an incredible story to tell about how he went from 70+ hour per week worker to “full-time” real estate investor who only works part-time. Elliot has an incredible outlook on life and business that’s contagious, so warning—you won’t leave this interview the same person. You’ll also learn how Elliot and his wife made over $100,000 their first year in real estate and the amazing tale of how they made over $100,000 in a single month. This show is as inspirational as it is educational (and filled with more than a few laughs!) so get ready to have your world rocked.

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In This Episode We Cover:

  • How Elliot got started real estate investing
  • Whether you should do house inspections
  • Their next deals and a great wholesale deal
  • How to wholesale with a full-time job
  • The importance of being honest with your sellers
  • What exactly wholesaling entails
  • How he made $100k in just one month!
  • How to invest part-time and earn full-time
  • Tips for building relationships with private lenders
  • Advice on flipping with no money down
  • Tips on finding a mentor
  • How to do 30 deals a year
  • How Elliot finds deals
  • His way of making the world better
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Fire Round Questions

Tweetable Topics:

  • “If you’re asking if you need an inspector, then you need one.” (Tweet This!)
  • “It all has to do with the intent. Is your intent to screw this person or is your intent to do the right thing?” (Tweet This!)
  • “You’ll find really good people in this business who just love people and love helping.” (Tweet This!)
  • “Money is not the most important thing. Friendship and relationships are the most important thing in this business.” (Tweet This!)

Connect with Elliot