Brandon and David: Ask Us Anything Podcast!

188 Replies

Originally posted by @Mary K. :

@Frances Song I agree. Would love to see more podcasts from women. I'm guessing BP demographic is 90% 25-50 year old male here but love to hear from women who became successful, especially by themselves. I think it is much more rare for women and much harder for us to find a network, mentors, partners. Hard to break into the boys club.

@Ryan P. Kotschedoff Would also love to see more podcasts and articles or how-to guides for young people starting out. Teens/early 20s. Maybe sub forums for both women and young people under 25?  

Also like to see more meat/detail in general in the podcasts. Really like seeing the detailed analysis of deals from Brandon with photos and numbers. How did they find their first loan and where? What challenge did they overcome with financing the first few deals and how did they overcome? What mistakes did they make along the way? How to find a partner, mentor or financing source on BP? More info on LLCs, trusts, insurance (liability, landlord), more info from a property managers perspective (how to deal with....), info from attorneys, etc. Is there a reason podcasts can only be investors and not PMs, landlord/tenant or RE attorneys, insurance agents?

Mary and Frances, I schedule the guests for the podcasts (we have two - one for real estate and one for money) and I'm always looking for more female guests. We're looking for active investors who have been part of at least 10 deals as a buyer or seller (not the agent in the deal). If this is you, please go to www.biggerpockets.com/guest and fill out the form. 

@Brandon Turner , I'd like you to pull back the curtains and do a severe deep dive into the 4 homes you bought for your daughter in Washington. Every little detail from finding it, to the rehab procedures and acquiring the GC, the financing and refi and where it stands currently from each one's rent to any obstacles you have while owning it today. 

Thank you

@Scott Starkey would love to hear details on your own seller financing deals and how you got those and details on the deals, especially the MHP. Have not had luck with getting sellers to do financing. Would you be willing to share?

@Mindy Jensen I do not personally know any women who have bought a significant volume of rental property and would qualify for a podcast based on that but would love to hear from some if you find any. I think the fact that they are so rare indicates a unmet need in the RE investor community and is exactly why we need to find more women to learn from, teach and mentor/partner with. You yourself are a great example of a successful female investor. 

I would like to know how much is a rough estimate to have a 2 family house 3 units 2160 sqft fully remodeled a store front is apart of the unit. It is a townhouse/storefront in NY. I was given $40,000 per unit does that sound just about right.

Thanks

LP

@Brandon Turner 

Anyone else run into this? Whenever I attend meetups I always seem to run into a "Financial Advisor." How can I tell who's legit and who just got hired because they have a pulse? 

What companies should we as investors steer clear from? I have some I'm already avoiding but I'd like advice from the pros!

@Brandon Turner  Anyone else run into this? Whenever I attend meetups I always seem to run into a "Financial Advisor." How can I tell who's legit and who just got hired because they have a pulse?

What companies should we as investors steer clear from? I have some I'm already avoiding but I'd like advice from the pros!

I would like to hear what Brandon and David's goals are for this year.  Where are you guys going with your real estate investments now?  Is your goal to keep growing you real estate empire, or are you happy having achieved financial independence?  As an investment community, we talk so much about the accumulation of wealth and how to get there, that I think that becomes the focus of our discussions and we start thinking that is our final goal.  But really the end goal is not the accumulation of wealth, but what it allows us to do.  I think a lot of new investors lose focus on the end goal and start focusing on making more money.  I would love to hear a podcast that highlighted successful investors, not as much how they got there, but what it allowed them to do.  Maybe that could be a new question to add on to the famous four, "What does real estate investing allow you to do that you otherwise wouldn't be able to?"  or more directly, "How has real estate investing allowed you to enjoy life more?"    

@Charles Mitchell

I like this one too "How do you estimate rehab costs for a BRRRR based off of pictures on the MLS or Zillow? I've read J Scotts book, but its hard to gauge exactly what's needed based off pics." I've also read J's (fantastic) book and find the nitty-gritty stuff like this very helpful - relating the general principles to specific examples, stories, and experiences.

@Brandon Turner

New to BP, and have been binging the podcasts the last few days. Loving it!

Whats the best way to navigate moving forward and out of a VA loan?

TX property

ARV @ $250k

Mortgage @ 63k

it was my primary home, now rental, as I work abroad mostly. I think trying to do anything and saying investment property is killing my options.

I got a quote to refi to conventional so I can get my VA eligibility back, but it was going to be about $3k in closing fees (aside from taxes, etc).

Does it make sense to shell out almost 5% in fees to get that eligibility back? I asked about doing HELOC over phone and they said TX doesnt allow them, and that cash out refi would only get me a few grand.

My goal is to get that VA COE back and find a multiplex, occupy a unit for minimum term, refi, get another. Rinse and repeat.

Thanks, and keep up the great podcasts!

@Brandon Turner

My primary home turned rental (as I work abroad) is in San Antonio, a pretty hot market for last few years. While it’s been great for appreciation, my taxes have been going up like crazy, and rent hasn’t seemed to be going up to recover this difference. How long do you see it take for rents to catch up with current market house values and increased taxes?

ARV @250k

Rent $1600, net $1440 after PM 10%

RE taxes @ $6500

Thanks!

I have been listening to an audio book of yours. I rrally appreciate your wisdom!

I am in the beginning stages of becoming an investor. I recently found myself without a place to live. I have been looking for a place for about a year now, but due to some certain circumstances I haven't been able to get in anywhere yet. My wife, our son, and our doc have been living out of our car, and with winter upon us we are desperate to find a place to stay. I recently went to an open house, where I met a guy who was a real estate investor. I went because he said he would consider a rent-to-own option. After I viewed the property, I asked him about his investing career, and told him I was interested in becoming an investor, but i was a little intimidated. Then he explained it a bit, and sent me the audiobok.

I wanted to thank you for opening my eyes to the 'how can I afford it' instead of the 'i can't afford it' view point. I think that really is where I turned a corner.

I have extremely poor credit, no money, and a hundred other obstacles in my way, but I am absolutely determined to make some success for myself here, and put my family back on track.

Anyways thanks for reading this, and any ad advice you can give me is very much appreciated and utilized.

@Brandon Turner

@Brandon Turner   

ARV how to calculate. When doing BRRRR!!! to keep from being upside down. Lots of properties will have high comps. but have expensive materials in them. How do you calculate upgrades but not high end upgrades ie calculate conservatively. New bath and kitchen (full gut). Does adding bedrooms really increase the comps? Vinyl tile not ceramic.linoleum HD counters not marble. New electrical as needed, furnace ac as needed or new in my case theirs a lot of boilers up here Jersey city NJ area so i switch to furnace/AC for upgrade/ increased rents.

Originally posted by @Nicholas Heinl :

I have been listening to an audio book of yours. I rrally appreciate your wisdom!

I am in the beginning stages of becoming an investor. I recently found myself without a place to live. I have been looking for a place for about a year now, but due to some certain circumstances I haven't been able to get in anywhere yet. My wife, our son, and our doc have been living out of our car, and with winter upon us we are desperate to find a place to stay. I recently went to an open house, where I met a guy who was a real estate investor. I went because he said he would consider a rent-to-own option. After I viewed the property, I asked him about his investing career, and told him I was interested in becoming an investor, but i was a little intimidated. Then he explained it a bit, and sent me the audiobok.

I wanted to thank you for opening my eyes to the 'how can I afford it' instead of the 'i can't afford it' view point. I think that really is where I turned a corner.

I have extremely poor credit, no money, and a hundred other obstacles in my way, but I am absolutely determined to make some success for myself here, and put my family back on track.

Anyways thanks for reading this, and any ad advice you can give me is very much appreciated and utilized.

@Brandon Turner

 I'm so sorry. I have been in your shoes so I know your pain. Don't give up. Keep focus. I'm a newbie myself and I've ever so grateful for BP. You will learn all you want here. Good luck and see you at the top!

@Brandon Turner

I just relistened to episode 278 with Charles Roberts and he talks about the importance of understanding financing/lending even more so than how to find a deal, he recommends sitting down with 4-5 lenders in an interview type style to better understand this realm of REI. I plan to take his advice and sit down with some conventional lenders to better understand lending... Can you guys offer some questions or recommend topics to cover when interviewing lenders for investing? Thank you

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here