368: $3,500 per Month From One BRRRR Deal With Palak Shah

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 6 February 2020

⏱️ 87 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s show: accelerated wealth-building through leverage and systems! Palak Shah walks us through how she built a $4M portfolio in just three years by "supercharging" the BRRRR strategy. Palak left a career in corporate America to focus full-time on real estate in the Philadelphia area, and she applied her training as an engineer to create airtight processes that help her business run without her. You’ll love hearing how she finds deals from wholesalers on Facebook, why she’s not afraid to sell off some of her BRRRR properties, and how she creates checklists to determine whether a deal fits her criteria. Also, we discuss how to beat “analysis paralysis” by remembering her acronym “A.B.L.E.” Palak is a relatable, inspiring investor who offers great tips for anyone hoping to transition away from a 9-to-5… so check out this episode today, and share it with a friend or family member! In This Episode We Cover: Leaving her corporate job to take more control over her time Why she’s OK paying capital gains tax rather than using 1031 exchanges Flexing your “risk-taking muscle” Using hard money for BRRRR projects Creating “templates” to make investing easier over time Criticisms of the BRRRR strategy Why she sells off some of her BRRRR properties Using local banks and credit unions Her mantra: “Fortune favors the finance-savvy” How her systems allowed her to buy 2 properties from India Her “A.B.L.E.” method to escape analysis paralysis How she bought 9 units for 40% off the list price How she used a home equity loan to borrow $160K And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar Fear-Setting: The Most Valuable Exercise I Do Every Month How to Make $100,000/Year with Fixer-Upper Rentals (by Buying Only 2 Properties Annually) Microsoft Project Redfin Hustle & Persistence To Build Wealth Through Real Estate | BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene BiggerPockets Podcast 362: Big Goals? Here’s How to Get Your Spouse or Partner on Board with Jay and Wendy Papasan Check the full show notes here: http://biggerpockets.com/show368 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast show 368.
0:05.0	I built a $4 million real estate portfolio.
0:07.8	This year, our revenue is about a million.
0:10.6	And the best part is there's no glass ceiling. Nobody controls my potential because of the way I want to spend my time. So it's been an amazing journey. You're listening to Bigger Pockets Radio, simplifying real estate for
0:25.4	investors large and small. If you're here looking to learn about real estate
0:29.7	investing without all the hype, you're in the right place.
0:33.0	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:39.0	Your home for real estate investing online.
0:42.0	Hey, what's going on everyone? This is Brandon Turner. home for real estate investing online.
0:43.0	Hey what's going on everyone?
0:44.0	This is Brandon Turner, host to the BiggerPockets podcast here
0:47.2	with my co-host, Mr David Green.
0:49.5	David, welcome to the podcast buddy.
0:51.6	Not much man, it's been a great day
0:53.4	and we just had a really, really, really good interview
0:56.2	with Pollack.
0:56.8	I am pumped for the listeners
0:58.9	to get to hear what we just heard.
1:00.5	Yeah, Pollock was she brought the goods today, really good interview.
1:04.0	We talk about everything about like how to get started with Burr investing, how to work with hard money lenders,
1:08.3	how to get wholesalers, she has some great tips on finding deals through wholesalers.
1:12.0	You're gonna get all that today.
	...

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