Real estate investors wear a lot of hats, especially in the beginning: contractor, bookkeeper, receptionist, and more. But if you truly want to grow your business, you must do LESS. At least, that’s the message you’ll hear today on The BiggerPockets Podcast, where Josh and Brandon sit down with real estate investor Devin Elder about how he’s been able to scale his business by doing fewer and fewer tasks. You’ll learn how he went from a single family rental in 2012 to buying multiple properties each month. We cover the topic of BRRRR investing, fix and flipping, using private lenders, getting started with no money, and lots more. Stay tuned for this powerful episode!
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This Show Sponsored By
We just wanted 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!
In This Episode We Cover:
- How Devin got started into real estate
- How he got a mentor to help him get his first deal
- What exactly equity capture is
- Why the BRRRR strategy is so nice
- Thoughts on his market, San Antonio
- Devin’s main focus as a real estate investor
- How his business works
- The importance of creating systems and not doing things you don’t enjoy
- Why you shouldn’t reinvent the wheel
- How he decides if he flips, holds, or wholesales a property
- How he finds his deals
- How to figure out if someone is fudging the numbers
- The mechanics of his marketing
- The story of a deal that went wrong
- What makes him proud about how he does business
- The name that comes to mind if he heard the word “inspiration“
- What the future looks like for Devin
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Webinar
- BiggerPockets Podcast
- Investor Carrot
- Tim Ferriss’ Podcast
Books Mentioned in this Show
- The Book on Rental Property Investing by Brandon Turner
- The Book on Flipping Houses by J. Scott
- Investing with No or Low Money Down by Brandon Turner
- The Book on Tax Strategies by Amanda Han
- 80/20 Sales and Marketing by Perry Marshall
- Rich Dad Poor Dad by Robert Kiyosaki
- The Millionaire Real Estate Investor by Gary Keller
- Elon Musk by Ashlee Vance
- “Rental income wasn’t making me wealthy, but it was paying my bills.” (Tweet This!)
- “It’s about creating systems, getting software, and not spending time on activities that you don’t enjoy.” (Tweet This!)
- “Nothing happens without some revenue.” (Tweet This!)
- “Use your hustle to create some kind of value and then from there take the next best step.” (Tweet This!)