262: How to SCALE Your Real Estate Portfolio in 2023

Real Estate Rookie

BiggerPockets

How To, Education, Entrepreneurship, Investing, Business

4.7 • 1.8K Ratings

🗓️ 18 February 2023

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

You want to build a real estate portfolio, but you might not even own a single rental property yet! So how do you go from onlooker to investor and finally become financially free through real estate investing? Start with the end in mind! So many rookie real estate investors envision a dream life with cash-flowing rentals and little to no stress, only to realize the landlord life is a LOT different than social media makes it seem. To grow a passive real estate portfolio, you need to do something different. David Greene, host of the BiggerPockets Real Estate Podcast, knows exactly what that is. David went from cop to top-producing real estate agent, investor, broker, and host of the world’s most recognized real estate investing podcast. He knows what it feels like to have a big portfolio and all the pain points that come with it. For the rookie investors, David wants to make sure you don’t make the same mistakes he did. Scaling your portfolio incorrectly could force you into yet another job, NOT the financial independence you’re looking for. In his new book, SCALE: A Successful Agent’s Guide to Leveling Up Their Real Estate Business, David outlines EXACTLY what you must do to build a business, NOT a landlord nightmare. In this episode, he’ll give you everything you need to know about picking the right area and property, why appreciation often beats cash flow, knowing “the number” to offer, and how you can outsource your work to live the life you love! Pre-Order SCALE now, and use code “SCALE262” for 10% off at checkout! In This Episode We Cover How David Greene went from stressed-out cop to financially-free investor How to build a business, NOT a job that will take time out of your day What to look for when researching an investing area and whether cash flow markets are worth it Knowing the “efficiency” of a deal and how it can make you MUCH wealthier The “long-term outlook” David uses when analyzing ANY real estate deal How to use “leverage” to work less, earn more, and build a better business Why buying the most real estate possible IS NOT a good option for investors And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Bankrate BiggerPockets BiggerPockets Bookstore Bluehost Dave Meyer's Instagram GoBundance GoDaddy Monday.com On the Market Podcast The Real Estate Rookie Podcast The 2023 State of Real Estate Investing Report Zillow Connect with David: David's BiggerPockets Profile David's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-262 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This says real estate rookie episode 262.
0:04.8	There's two parts to a system. I talk about this in scale.
0:08.3	Everybody understands the first part, which is you need to create a checklist of things
0:12.4	that need to get done or a library of videos to show somebody how to do it.
0:16.0	That is the first step in creating a system. The error becomes when we think that's all a system is,
0:22.6	because the second part of a system is having a human being that is skilled and capable at
0:27.6	doing those things. We have all had a position where we hired someone to do something,
0:32.0	and it was super clear what they needed to do, and they still screwed it up.
0:35.1	My name is Ashley Care, and I'm here with my co-host, Tony Robinson.
0:39.2	And welcome to the real estate rookie podcast, where every week,
0:42.4	twice a week, we're bringing you the inspiration, motivation, and stories you need to hear.
0:46.5	And today I want to shout out to someone by the username of MaryLPC,
0:50.1	who left a five-star review and Apple podcast that says,
0:53.3	Speaking honestly, I discovered this podcast after first listening to the OG Bigger Pockets podcast.
0:59.4	I ran out of content and wanted more. This podcast, the Ricky Show, is now my favorite podcast.
1:05.2	It's so relatable to someone who is still early in the real estate investing journey,
1:08.9	and provides so much useful and concrete advice.
1:12.0	Tony and Ashley are phenomenal hosts, and I would highly recommend this podcast to anyone looking
1:16.8	to further their real estate investing career. MaryL, we appreciate you. That is such a great and
1:22.0	nice and positive review. And if you're in the rookie audience and you haven't yet left us a review,
1:27.0	take the two minutes, leave that review, we would appreciate it. So,
1:30.2	Ashley Care, we got a heck of an episode for everyone today, right? Some really cool things
	...

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