1: From 4 Years of Analysis Paralysis... to 4 Cash-Flowing Properties with Lauren and Kyle Clugston

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 5 March 2020

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

How will YOU transition from the "getting educated" phase to taking direct action toward your real estate goals? Start by taking cues from Lauren and Kyle! In this premiere episode, they share how they powered through their initial hesitation to build a "small but mighty" rental portfolio in less than 3 years' time... a portfolio that has them well on their way to a life of financial freedom (and maybe even a "boat house!"). You'll love their tips for identifying the right market for you, minimizing risk by house hacking, and leveraging your local meetup group to get the scoop on real estate trends in your area. Plus, they guide us through their first "true" BRRRR deal—sharing lessons from their experience negotiating directly with a seller, firing a contractor, and finding time to DIY a lot of the renovation, all while juggling two full-time careers. Lauren and Kyle may seem like sophisticated investors now. But in 2017, they were right where a lot of you are today. By following their roadmap and adjusting it to your market, you too can build a mini-empire that funds the life you dream about. Make sure to subscribe to Real Estate Rookie in your favorite podcast app, and join our Facebook group (just search "Real Estate Rookie") to continue the conversation. See you next Wednesday! In This Episode We Cover: Lauren and Kyle's backstory How Lauren overcame 4-year analysis paralysis How Lauren and Kyle balance full-time careers with real estate investing How the BRRRR strategy worked for them Why they let other investors (their “competition”) walk through their property Why their MVP is their real estate meetup group Rookie Request Line: "What is your best advice for finding real estate agents who know what they're doing with investors?" And SO much more! Check the full show notes here: http://biggerpockets.com/rookie1 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Are you ready, Felipe? Let's do it. This is the real estate rookie podcast show number one. When we first started I was the analyzer and we would get a counteroffer on a property
0:16.0	and Kyle would say to me well can we go higher and I'm like I don't know. I mean like we're still cash flowing but it you know cuts down on the
0:26.9	return and is that good I don't know is that bad like there's really not a
0:30.2	lot people to talk to and on and so having a group of people who invest in your area
0:34.6	and can speak more directly to what you're going through has been so helpful. I'm Felipe Mejia and I'm Ashley Care. Today we have our first ever real estate
0:51.0	rookies Lauren and Kyle Clugston and husband and wife team from Camden County,
0:56.4	New Jersey.
0:57.4	Felipe, what was your favorite takeaway from them?
0:59.8	I loved this episode simply because they break down the Burr strategy so effectively and how they're able to pull out their money
1:07.2	You know even more than they invested that's a home run in my book. Yeah, they do a really great job of explaining what the Burr method is to for
1:15.6	anyone that's not familiar with it. I love that as rookie investors themselves, they've
1:20.8	been able to purchase a property and take it all the way through to the end of the birth strategy and only their third deal which they go into detail about.
1:29.0	Leveraging a meet-up, leveraging their
1:34.4	Instagram and just really you know being positive in their community and helping out other
1:35.9	investors as well. Yeah and don't forget their junk collector tip you got a lot of
1:40.3	junk in your house or house you're purchasing. They give a great tip on
1:43.6	junk removal too which I love. They do they do they go into detail and
1:47.8	everything that they do with this deal. So let's bring in Lauren and Kyle.
2:01.0	All right, I know we're all excited to get started, but let's take a quick break before we dive into today's episode. Oh no are you still looking for on market real estate
2:05.8	deals? Come on guys we talked you better than that. Stop scrolling through those
2:10.2	listing sites. The best rental properties, flips, and wholesale deals aren't found
2:15.5	on market. So how do you get them? Deal Machine. From driving for dollars to pulling
	...

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