BiggerPockets Podcast 221: Buy and Hold Real Estate—What Works and What Doesn’t with Tim Shiner

by | BiggerPockets.com

A lot of people want to invest in rental properties, but a lot of people also fail when they jump in. Why? That’s the topic on today’s episode of the BiggerPockets Podcast, where we sit down with Tim Shiner to learn his story of going from zero to over 150 units and the lessons he picked up along the way. You’ll hear some incredible strategies for getting unicorn deals when there are multiple offers, the #1 most important characteristic Tim looks for when buying a property, and why he focuses primarily on “higher end” rental houses. You’ll love all the humor, wisdom, and knowledge Tim brings to the show, so sit down, relax, and be prepared to learn!

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In This Episode We Cover:

  • How he got started buying quality real estate
  • What makes his location special
  • Why he doesn’t have a real estate license
  • The importance of looking at the “horizon” and the end goal
  • A discussion on diversification on investments
  • The story of the “big white card board
  • Why you should focus on what you are better at
  • Tips for finding mentors
  • The details on his 140 deals
  • Insight into the debate on high-end vs. low-end properties
  • Why he loves appreciation
  • Tips for partnering with your significant other
  • A discussion on buying your kid a property
  • How he finds deals
  • Why you should set a goal, achieve it, and reward yourself
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “Nobody cares as much about your investments as much as you do.” (Tweet This!)
  • “The goal is to get as many checks coming in the mail as possibly as you can.” (Tweet This!)
  • “If you have a strong enough ‘why’ while you invest, that will plow your way.” (Tweet This!)
  • “Set a goal, achieve it, and reward yourself.” (Tweet This!)

Connect with Tim

Show Preview

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 1500,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

18 Comments

  1. john clark

    Awesome podcast. I already listened to it twice. So many words of wisdom in this one. I agree with Brandon, this is certainly a top 5 BP podcast. That you so much Tim for sharing your time and knowledge with us.

    Now over to Amazon to get the 50 Things book. 🙂

  2. Curt Smith

    Hi Tim and BP, I’m doing pretty well off with my rental portfolio yet I push myself to try to learn from others so I listened to this podcast. Great info!!!

    What lender did you bundle the 5 homes into a line of credit? I need to do this? Or even if its a REFI cash out lender still like to know? I only know of the lenders doing the B2R program in this space.

    I thought it was good advice to make deals with yourself and especially your family for their sacrifice in buying another deal etc. Buying purses, vacations as a payback is a great way to get the family taken care of if the big picture of financial freedom at some future date doesn’;t do it. I agree a lot of folks need near term payoff and so this is good advice.

    Other BPers might read my Buying Bullet Proof rental portfolio file I shared, go to my profile lower right. Which is why I really liked Tim’s tactic to target excellent school systems for appreciation and for me near zero management effort since they are a hardy can do type of renter. My needs where to be able to quit my day job so I couldn’t buy low DSCR houses like you (or low cap rate) I had to buy good schools AND good cap rate (12% and higher). I strongly suggest folks buy rentals in Great Schools rating of 5 or better. Higher the better but often 7 and above are too expensive if you need cash flow today or just can’t pull off the purchase.

    On the flip side of buying in good school districts. As a leader in my local REIA I tap into TOO many landlord horror / bad stories from folks who buy in Great Schools 0, 1, 2 areas. IMHO there is NO economy in buying cheap houses in bad school districts. You’ll be trading low price for constantly hassling with either the house or the tenant. Plus my view is that the spread sheet cap rate never works out for these cheap houses in rough areas, its always much lower NOI after all expenses and often near zero appreciation.

  3. Shelly Forte

    This was INSPIRING and a great start to my day today! Thank you Brandon, Mindy and Tim! I love GOALS GOALS GOALS and totally agree! And thank you Brandon for spending a month in Hawaii doing something new…the ability to be able to do THAT is an inspiration alone! 🙂

  4. Nathan G.

    Great podcast with lots of good information. I really liked the idea of developing a “reward” system to entice others to jump on board. Of course, you still have to be smart about your purchases. It wouldn’t make sense to buy a risky investment and then spend $5,000 on a vacation to Hawaii!

  5. Chuck Masters

    Great Podcast. This is the one podcast I’m going to have to listen to twice. I live in an area that has great schools but keep looking at the areas surrounding that are cheaper and the schools not as great. After listening to this podcast I need to change my thinking!

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