100: From Financial Disaster to Real Estate Master with Brandon Turner

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.5 • 3K Ratings

🗓️ 25 November 2019

⏱️ 97 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You probably know Brandon Turner from the BiggerPockets Real Estate Investing podcast. On that show, he sounds like he’s got his life all together. But before he discovered the RIGHT way to do real estate, he made mistakes. LOTS of mistakes. Today, Brandon shares everything he did wrong - from financing rehabs with a credit card to accumulating six figures in debt on properties he couldn’t sell. But the most important thing Brandon did was learn from his mistakes. He read Total Money Makeover by Dave Ramsey and put the lessons learned from that book into action, paid off his debt and started living the life he truly wanted. The episode is for people who’ve made mistakes, who are in debt or struggling to find a path to financial freedom. Brandon shows you that it’s OK to make mistakes, you CAN recover, and the life you want is within your reach. In This Episode We Cover: Brandon's journey with money How to learned negotiating from his mother The reason his mom bought him a book on how to handle money His financial position after college How he got a No-Doc loan Bought properties to flip and turned them into rental properties What hard money loan is His rock bottom experience Read a hundred books on real estate The reason he got into buying rentals How he convinced his wife to invest in rental properties Started saving money by doing the cash envelope system What seller financing is How he bought his 24-unit apartment The importance of building integrity How they met Josh Dorkin His balance sheet when he retired Brandon's advice on investing Links: BiggerPockets BiggerPockets Real Estate Podcast BiggerPockets Business Podcast BiggerPockets Forums The BiggerPockets Book Store BiggerPockets Money Podcast 42: How to Invest in Real Estate with Joshua Dorkin & Brandon Turner Rental Property Calculator from BiggerPockets The Dave Ramsey Show Podcast Movement Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the BiggerPockets Money Podcast show Number 100 with Brandon Turner from BiggerPockets.com.
0:06.4	I don't put money in a 401k. I don't put money in a 401k. I don't put money in a solo 401k. I don't put money into life insurance. I don't put money in a solo 401k I don't put money into life insurance I don't put money into anything I
0:16.2	believe a hundred percent in putting all my eggs in one basket. This is not popular advice.
0:24.0	No.
0:25.0	Right, but I believe me personally in putting all my eggs in one basket and what I mean by that is one asset class.
0:33.0	It's time for a new American dream, one that doesn't involve working in a cubicle for 40 years,
0:38.5	barely scraping by.
0:40.0	Whether you're looking to get your financial house in order, invest the money you already have, or discover new paths for wealth creation, you're in the right place.
0:48.0	This show is for anyone who has money or wants more.
0:51.0	This is the Bigger Pocket's Money Podcast.
0:54.0	How's going everybody? I'm Scott Trench. I'm here with Mindy Jensen, my co-host.
0:56.8	How you doing today, Mindy?
0:58.0	Scott, I am having a fantastic day and I'm so excited for this episode.
1:03.0	First of all, hooray, a hundred episodes.
1:06.0	Congratulations, Scott, that's kind of a big deal.
1:09.0	That's right, congratulations, Midi.
1:10.0	When we were at Pod-Ked, when I was a podcast movement earlier, I think they said that most shows never get
1:15.2	past 10 so a hundred is 10 x oh look we're 10 xing but it's just a really nice
1:22.4	accomplishment I'm very excited that we have gotten to show 100.
1:25.8	So congratulations.
1:27.2	And then I am doubly excited because we have Brandon Turner on and he's telling, of course there's real estate involved in this story, but this is the story that you haven't heard of Brandon's past.
1:40.0	This is how he started off with money, how he royally screwed up his money, and how he figured it out and is now rolling in the dough.
	...

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