On this episode of the BiggerPockets Podcast, learn what it took for Nasar Elarabi to quit his dead-end job and become a full time wholesaler, flipper, and landlord. Tune in for discussions covering how he funds his deals, what makes him a better landlord, and why he’s tried his hand at many avenues of real estate. In this not only informative, but also wildly entertaining episode, Nasar shares his tales of success and the failures that helped him learn — including the first flip he ever undertook (that turned out to be disastrous).
This show is packed with a heavy dose of motivation and miles of actionable content, so don’t waste another minute. Just hit “play!”
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This Show Sponsored By:
We just wanted to give a shout out to our podcast sponsor on today’s show: B2R Finance
A new commercial lender offering loans specifically for rental investors. B2R Finance could help you unlock equity from existing properties so you can get cash out now.
Learn more by visiting: B2RFinance.com
In This Episode We Cover:
- How Nasar got into real estate
- The story of how he got it all wrong with his first flip
- What he learned from those mistakes
- How he shifted to buy & hold properties
- What you should know about debt to income ratios
- How Nasar funds his deals
- How he became “too stupid to quit“
- Why he shifted once again to wholesaling
- What makes him a better landlord now
- Interesting information on owner financing
- How to know when to quit your job
- The ins and outs of achieving a “slam dunk deal“
- The importance of working with the right people
- What exactly code enforcement leads and delinquent tax leads are
- What makes him different from other investors
- And SO much more.
Links from the Show:
- BiggerPockets Forums: Success Stories
- Forum Thread about the Danger of Wholesaling
- Is Real Estate Wholesaling Illegal?
- BiggerPockets Webinar Replay
- Agent’s Guide
- BiggerPockets Ultimate Beginner’s Guide to Real Estate Investing
- 99Designs
- BiggerPockets Podcast Show 100
- BiggerPockets’ Facebook
- BiggerPockets’ Twitter
Books Mentioned in this Show
- Think and Grow Rich by Napoleon Hill
- Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down
- You Can Make It Happen: A Nine Step Plan for Success by Stedman Graham
Tweetable Topics:
- “Slow down and learn to focus on that one thing that you want.” (Tweet This!)
- “Just because you own four houses does not make you a real estate expert.” (Tweet This!)
- “Sometimes you’ve got to jump off the roof and get your wings on your way down.” (Tweet This!)
- “You’re going to learn more doing it than reading a book.” (Tweet This!)
Connect with Nasar
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46 Comments
Awesome Podcast! Very useful for wanna be wholesalers like I, who have not taken action yet. That will change soon!
Thanks for listening and commenting.. Yes its all about taking action
Very candid and the most entretening podcast so far. Thank you for sharing. You go Nasar!!!
I am glad that I have been able to entertain you.. lol and thank you for listening..
Great Podcast
thanks for listening
Great Job Nasar! You are so funny and entertaining to listen to.
thanks tom… I try to add a little spice..
I LOVE THIS WEBSITE!!!! I learned so much from this podcast alone. I found that my county has a website that they post tax delinquent addresses. So awesome! Such a good podcast, thank you so much for all the info Guys!
Very good podcast! And funny too
Im glad I was actually able to help some one in life.. My old job was wrong about me.. And thanks for listening
Nasar, very well done. Motivational and entertaining. I sat on my front porch smoking a cigar listening to your podcast and was laughing out loud…. don’t you just love real estate?
Glenn,
Thanks man glad I could be entertaining.. We could all use a good laugh.. And yes I love real estate
Great stuff Nasar! When I was young and cutting my teeth in outside sales I had a poster in my office of “Tigger” from Whinny the Pooh that said ” Think less, jump more”!
I still call Tigger my favorite business coach to this day.
Thanks for sharing your success and failures in R/E and life.
Yeah man.. I try to tell me people just do it like nike. Dont over think it.. And glad you enjoyed the podcast
Love this POD cast!
thanks man
What a charismatic guest!
Thank you for your candid straight-forward and open interview, Nasar. I love how you keep it real.
Thanks for listening.. And yes I keep it all the way real.. Much success
Great interview Nasar!
Thanks for listening
Good podcast Nasar. Thanks for sharing your experience with us.
Man, thanks for listening.. And no problem… We can all learn from my failures and stupidity..
“I was too stupid to quit” best quote ever !!!
Yup, and I was too stupid to know I was too stupid.. lol Thanks for listening
Awesome stuff!!
thanks for listening
Nasar, you are one funny dude. I have never laughed so f***n hard during a business podcast. So many guys on this podcast make it sound easy, but you were totally real. Not only about how some people cannot be wholesalers, but who else have I EVER heard say they deserved to be fired?! Speaking of keeping it real, I realize listening to you that, although I grew up in mixed race neighborhood of LA, I now live in a pretty white suburb and I never hear black voices anymore. Kind of a bummer. Anyway, if you are ever in Orange County, let me know because I want to buy you a beer/wine/hand-crafted cocktail (that last one a nod to your foodie status).
Man Im just glad you were able to get a good laugh.. All I know is being real… No need to be a liar..I dont drink alcohol or smoke.. But im quite sure you can take me to a Good food joint out their to eat..
and thanks for listening
OK, really excellent fish tapas, overlooking the sailboats of Newport Beach harbor. Just let me know when you are town.
Great Podcast Nasar! Great to hear that you’re a “DoRu”. Way to go making things happen and getting past the perils in the early stages!
Thanks so much…
Amazing podcast!
With all of the talk on the internet, I never thought that real wholesalers would be so few.
This was a great perspective from someone actually working for his daily bread.
Thanks Josh, Brandon, and Nasar!
thanks for listening.. You know I got to keep it real… lol
This podcast was awesome! Loved the Do-ru reference. Keep kicking butt!
Thank you so much for the information, with a great BP podcast episode! I’m also from North Carolina and returning to Charlotte this year once I arrive from my work overseas. My goal is to dive headfirst into wholesaling properties in the area! I would love to speak with you directly upon my return and possibly learn from you firsthand if you’re willing!
Wow, just got around to listening to this one, great podcast.
Just finished listening to this. It was great for my ears and motivation for my business! I love how real and honest Nasar is, thank you! It’s so good to hear a person share their mistakes and lessons while being in a place you hope to be.
Awesome podcast, up there in my Top 10 Best Podcasts and I laughed out loud throughout, you and Josh should be a comedic duo. It was so nice I listened twice.
Thanks @Nasar for giving us the real deal on wholesaling. I came to BP thinking I could wholesale bc I saw a “guru” who shall not be named but on his website he wanted tons of money to help me, help myself. If it wasn’t for BP (thanks @Josh) I might actually be paying monthly for free info. I’ve figured out that buy and hold is the way to go for me. I’m taking my time and scouting for my first deal now after pouring over the podcasts blogs, books and articles.
Naser, just finished this morning listening to the Podcast. Definitely an entertaining funny podcast with good sense of humor. I found that it lightens up the conversation, but also gets the point across well.
Thanks for sharing from the heart with honesty of the deals you’ve done with the BP community. Wholesaling is a transactional job, and you clearly explained that and how each deal is check to check. Also I like how you informed the people about keeping their funnel full with understanding how to Market, negotiate and sell. I’ve been selling solutions for 19+yrs and those are the key ingredients no matter what the widget is…
Wholesaling is not easy, and the steady consistent “DO’ers” win the race! See you around BP!
OMG! I work at that same call center he mention, which is now Wells Fargo and it is horrible. lol!!!!
4 minutes and 40 seconds into podcast and I am still listening to rambling useless conversations and waiting for some kind of useful information. Please add a fast forward button to your podcasts or get to the guest/ point more quickly. All the podcasts start the same way.
I’ve officially listened to this podcast 3x now and every time I walk with a sense on of inspiration reinforcing the idea that I can do it to. Your something like the people champ. Respect brother!
Awesome Podcast, one of my favorites when it comes to wholesaling. I really appreciate you keeping it real. Great advice and thanks for sharing your experience’s to help a newbie like myself avoid making the same mistakes. Respect!
This podcast had me smiling while at work! (Trying not to laugh) I love your honesty and congrats on your success, Nasar!