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BiggerPockets Real Estate Podcast

281: How to Get Your First Deal—An Episode For New Investors With Bill, Jacob, and David!

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 31 May 2018

⏱️ 118 minutes

🧾️ Download transcript

Summary

Your first deal might just be your most important — because it leads to all the rest. That’s why it’s so imperative to study others who have just recently purchased their first deal! So today we’re excited to bring you a mashup episode, in which we sit down with three different investors to hear how they bought their first few investment properties. You’ll hear how Bill went from ex-con to house hacker, how Jacob used some highly creative methods to find his first deals, and how David is building an empire from across the ocean. Don’t miss a moment of this powerful episode! In This Episode We Cover: Bill Being imprisoned for 10 years What changed in prison for Bill Starting your business on the side How he ended up investing in real estate What went in his head with his first investment property The beauty of keeping expenses low Having tiny little steps Jacob Jake’s investing path How he got into real estate Buying a $25,000 house with a $140 monthly mortgage Going for the smaller banks Investing at a very young age Joining local Facebook pages His criteria for finding properties David David’s story and how he got to Hawaii BRRR, OD, and HELOC Paying close to 5 percent on a 10-unit apartment Having a great team you can trust How he built a meet up in Hawaii And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinars BiggerPockets Podcast 277: Building a Six-Figure Family Real Estate Business with Ashley Wilson BiggerPockets Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod BiggerPockets Events Dad Powered Brandon’s Instagram Profile David’s Instagram Profile Books Mentioned in this Show The 21 Irrefutable Laws of Leadership by John C. Maxwell & Steven R. Covey Awaken the Giant Within by Anthony Robbins Rich Dad Poor Dad by Robert Kiyosaki Long-Distance Real Estate Investing by David Greene The Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets The Advanced Guide to Real Estate Investing by Ken McElroy How to Win Friends & Influence People by Dale Carnegie The Miracle Morning by Hal Elrod The 80/20 Principle by Richard Koch Tweetable Topics: “My success story didn’t started when I got out (from prison), it started right away in the very beginning.” (Tweet This!) “Quit the things that are holding you back and have you put in the exact location you are.” (Tweet This!) “Find a market that makes sense.” (Tweet This!) “I want to buy something that is certainly desirable.” (Tweet This!) “Highest risk is vacancy.” (Tweet This!) “Become a person worth being around.” (Tweet This!) “If they’ll like you, they’ll join.” (Tweet This!) Connect with Bill Bill’s Blog Connect with Jacob Jacob’s Podcast Jacob’s Website Connect with David David’s Blog David’s Instagram Profile David’s Facebook Page David’s Youtube Channel Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the BiggerPockets podcast show number 281.

0:05.0

And I found out I was so prepared for it through meetups, through reading, through bigger pockets, things like that.

0:11.0

That when I did it, I was kind of so prepared that I was like,

0:15.0

hey, this really isn't that hard.

0:17.0

You're listening to Bigger Pockets Radio, simplifying real estate for investors large and small.

0:25.0

If you're here looking to learn about real estate investing, without all the height, you're

0:29.0

in the right place.

0:30.8

Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.

0:36.0

Your home for real estate investing online.

0:40.0

What's going on everyone? This is your host today, Brandon Turner, here with my co-host, Mr. David,

0:47.8

analogy man Green. How you doing?

0:50.0

I'm good, buddy. How are you today?

0:52.0

You're good as what what I need an analogy I am as good as the icing on birthday cake I actually had a really good night last night I was hanging out with our buddies Mario

1:02.7

mazamuto Bo Xtine and Vini Chopra I love those guys like how do you not

1:06.6

love those guys we need to get all like we need to get them all in the

1:09.3

podcast sometime yeah they need to share their awesome rest of the world.

1:14.0

Vinny is a multi-family syndication guy, and he's telling me how he bought a $23 million apartment

1:19.6

and he raised money to do it.

1:20.8

He's getting an investor's like like 18% return on their money.

1:23.8

And then Mario is probably the top appraiser in the Bay Area, so he knows all about

1:28.0

how appraisals are done. And Bo Eckstein, he raises money, or he works for a fund that's raised money and he gives hard money loans to

1:34.2

investors so I get to sit there with these guys and I get to learn how loans

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