385: Once Homeless, Now Investing in an Expensive Market (With No Money of His Own) With Greg Gaudet

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 4 June 2020

⏱️ 96 minutes

🔗️ Recording | iTunes | RSS

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Summary

Flipping with no money down... in Hawaii? You heard that right. Greg Gaudet actually considers himself "risk-averse" and still holds a full-time job, but he's able to make nice chunks of change by hustling to find deals and managing rehabs for Brandon's team on Maui. Today, Greg walks us through his journey from "rock bottom," including bouts with addiction and homelessness, to living the life of his dreams, buying a Porsche cash, and owning a handful of properties free and clear. You'll learn the right way to approach investing in condos, how to bring value to a potential partner or mentor, how Greg manages risk by keeping his living expenses low, and the mindset shifts that allowed him to 1) get clean and 2) "get out of his own way" in the real estate business. This is truly one of the most powerful stories we've told on the BiggerPockets Real Estate Podcast, and it's guaranteed to get your wheels spinning! In This Episode We Cover: How tragedy shaped much of Greg's early years Bad advice he received when jumping into investing What to look for (and avoid) when investing in condos How Greg bought a condo for less than 50¢ on the dollar How he and Brandon structure their flip deals How anyone can flip without risk—if they're willing to work Greg's "why" (and his paid-for Porsche) How to approach a mentor without making it awkward And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Bookstore BiggerPockets Podcast BiggerPockets Calculators BiggerPockets Podcast 302: Making $100k/Deal Using Other People’s Money, Time & Experience with Cory Nemoto Calculating Numbers on a Rental Property [Using The Four Square Method!] Condominium Council of Maui BiggerPockets Events Grant Cardone on Multifamily Investing and Why You Should Never Buy a House! Open Letter Marketing BiggerPockets Podcast 194: Achieving Impressive Spreads Through High-End Flips with Justin Silverio CallPorter Deal Machine KECO Capital Open Door Capital Gobundance BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn Audible Premier Restoration Hawaii Brandon's Instagram David's Instagram Check the full show notes here: http://biggerpockets.com/show385 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast show 385
0:04.0	Desperation. It wasn't until I had the desperation. It wasn't until like I had just been working the
0:09.4	nine to fives, working I'm working and working and I got years and years of that where I was not happy and and knew that I had to find another way but it wasn't desperate. So it wasn't until I got desperate that I became willing to do anything.
0:22.0	You're listening to Bigger Pockets Radio,
0:25.0	simplifying real estate for investors large and small.
0:29.0	If you're here looking to learn about real estate investing,
0:32.0	without all the height, you're in the right place.
0:35.0	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:41.0	Your home for real estate investing online.
0:44.0	What's going on everyone is Brandy Turner,
0:45.0	host of the BiggerPockets podcast
0:47.0	here for another phenomenal show
0:49.5	with my co-host, Mr David Green. Welcome back to the show David Green. Thank you Brandon. This is a
0:56.9	really really good show. We have an inspiring story today of a person who overcame a lot of like
1:02.0	tough life obstacles to make it in success in real estate
1:06.2	and I personally had a really good time listening to the story.
1:09.3	Yeah, yeah really powerful stuff.
1:11.3	This is actually interviewing a guy named Greg a day and Greg is actually my
1:14.8	Business partner out here in Maui where we flip houses together so we actually did this recording like he's in my shed my seashed here
1:23.4	Chatting with us and I honestly didn't even know 80% of this story.
1:28.2	I'd heard glimpses of it over the years
1:30.0	of getting the know Greg, but man, just it floored me the what he overcame in his life to get to where he is today.
	...

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