Are you looking to ultimately work less, travel more, and life proactively rather than reactively? The key to this life is found in systems. And on today’s episode of the BiggerPockets Podcast, we are excited to introduce you to a guest who’s a master at building systems in his business. Tarl Yarber, an investor in the Pacific Northwest, shares his story of beginning with no money, making $100,000 on a single wholesale deal, and ultimately turning his love for real estate into a profitable business that has done 500 deals. This powerful show is sure to transform the way you run your business forever.
Click here to listen on iTunes.
Listen to the Podcast Here
Podcast: Play in new window | Download
Subscribe: iTunes | Android | RSS
Watch the Podcast Here
Help Us Out!
Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!
This Show Sponsored By
We 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.
Learn more by visiting PATLive.com/biggerpockets!
Fire Round Sponsor
Check out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!
Try it today with a discount: simplisafepockets.com/
In This Episode We Cover:
- Who Tarl is and where he got his name
- How he got into real estate 11 years ago by joining a seminar
- Details on his first wholesale deal
- Things to note about guru seminars
- Details on his second deal
- What exactly a double close is
- The difference between a cosmetic and full remodel rehab
- Their average cost on a rehab
- What his typical targets are when doing a deal
- Why you should have criteria based on cash on cash return
- Whether newbies should be flipping from a distance
- How many deals he’s done so far
- Tips for getting good house inspections
- How to get funding
- What it means to be a “systems guy“
- How to become replaceable and vacation off the grid
- What’s next for him?
- And SO much more!
Links from the Show
- BiggerPockets Events
- BP Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone
- BiggerPockets Portfolio Tracker
- Dropbox
- Google Drive
- Basecamp
- Trello
- The Surprisingly Simple Reason Why You Feel Stressed
- BP Podcast 005: Dealing with Death – A Financial Discussion with CFP Neal Frankle
- BRRRR Strategy
- BiggerPockets Webinar
- BiggerPockets Calculators
- BiggerPockets Forums
- BP Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay Papasan
Books Mentioned in this Show
- Rich Dad Poor Dad by Robert Kiyosaki
- The Book on Estimating Rehab Costs by J. Scott
- The 4-Hour Workweek by Tim Ferriss
- The ONE Thing by Gary Keller and Jay Papasan
Tweetable Topics:
- “One hundred percent of nothing is nothing.” (Tweet This!)
- “Really, the majority of my success all comes back down to networking.” (Tweet This!)
- “The better you become, the better everything else becomes.” (Tweet This!)
Connect with Tarl
Show Preview
Free eBook from BiggerPockets!
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
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
15 Comments
Awesome show Brandon and Josh! Thanks so much for having me. The two of you are a ton of fun and you guys have created the best resource out there for real estate investors with bigger pockets!
When I first met Tarl, I thought, “Man, this guy should be on a podcast.” I’m glad you guys thought so too =)
And Tarl, glad to have you in the Pacific Northwest! You are an inspiration to me.
Nghi! That means a lot to me to have you write that! I really like you and your team and I want nothing but the best for you guys.
Great stuff Tarl (and Josh/Brandon)! Really liked the conversation regarding having systems in place. The photo progress tip is a great one! I love using Dropbox for this in my personal life and it makes a lot of sense for business too.
As someone new to real estate investing, I really liked your answer to what sets apart successful investors. I think everyone should be honest with their self and own up to good/bad things that happen. And if you start out this way, good things can come. Thanks again and keep up the great work.
Thanks Nick for liking the show and your awesome comments! The key to using the drop box and taking pics is to make sure to label the folder specific to the property and then sub folders labeled with the date the pics were taken. That’s key to making it work and simplifying challenges down the road.
My Takeaways from this podcast:
– Set a criteria for what you are looking for (i.e. what % return do you want for every deal you go after)
– Put systems in place from the start and don’t be afraid to change them as you grow)
– You can be the “cash buyer” and make money in REI without heavily marketing
Great pod, would love to hear from Tarl in the future and hear how much he has actually transitioned into rentals and what systems he may have come up with for landlording.
Thanks for the comment Ugwu and pretty much summarizing it all! We are well on our way to the rentals, buying another this Tuesday and doing the BRRR on it. Thanks again for your comment and if there is anything I can do to help your business, feel free to message me!
Thanks for covering this topic, I’m just getting started and wholesale is what I’m using as an entry. It was a pleasure listening and learning from you all. Very much appreciated.
Thanks for listening Leila! Good luck to you in your new venture!
Thanks Tarl for the wealth of information and tips in real estate investing. Although fix-n-flip is not really my cup of Chai tea, I work with a few rehabbers and it is always good to learn the trade.
Having a “franchisable” system in place so that you can make more trips to the Galápagos Island but remember you don’t have to swim faster than the shark, just faster than your buddy.
Josh and Brandon, it’s always been educational and fun listening to your BP Podcast.
Brandon, regarding parenting, learn the art of regurgitation from the Galagapos Island’s Boobies or Goonies.
Brandon,
Here is a solution to find files that are stored on external hard drives. For Mac there is a software called NEO FINDER formerly called CD FINDER. http://www.cdfinder.de/
Basically label each external hard drive then the software scans the contents of each of your drives, and it remembers all the file names for all files. Then when you are looking for a file, just search for a file name, like “Photos for 2525 Kurt Cobain Drive”, and any files that have those key words will show up. It will tell you which hard drive the files are on, and then you know where the files are. As long as you have labeled your files correctly, you can find any file in a matter of minutes.
I’ve been loving these podcasts and was stoked to hear from somebody in the PNW! What are the best sites to connect to the local Real Estate Investor groups in the area?
I never knew what wholesaling was until tonight. Having been on the wrong end of a NOD and short sale I’m interested in the time commitment involved.
Great podcast! What I love most is your systems. All your systems remind me of exactly what I do at my W2 construction project management job for a large general contractor. These things can be implemented to anyone’s business, and thanks for sharing!
Excellent show. It’s important to setup systems, as they are only way you’re going to scale efficiently.
Awesome, awesome, awesome podcast! Originally got scared when Taryl was referencing cash on cash, like what, he doesn’t leverage! Glad to hear of your measurements, methods, and that you do leverage your deals! Excited to see myself get to the levels that you’re at and help other investors do the same! Thanks for sharing such valuable information!!! Again, Josh and Brandon Great job!