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BiggerPockets Real Estate Podcast

434: How HGTV’s Scott McGillivray Started a Real Estate Empire with No Job, No Money, and No Experience (Part 1)

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.816.6K Ratings

🗓️ 14 January 2021

⏱️ 76 minutes

🧾️ Download transcript

Summary

Do you like watching home improvement shows such as Income Property, Vacation House Rules, and Buyers Bootcamp? If so, you’re in luck! Joining us on the podcast is HGTV host Scott McGillivray! Scott has been hosting some of the best real estate investing and construction shows for over a decade now, and if you like BiggerPockets, you’ve probably seen an episode of one of Scott’s shows! Scott’s investing career started long before his TV network deals. As a student in college, Scott accidentally stumbled upon his landlord’s mortgage statement of account. He realized that him and his roommates were paying a few hundred dollars over what their landlord was paying monthly for a mortgage. That was the lightbulb moment for Scott. It was time to get into real estate investing. While in college with no job, very little money, and no experience, Scott bought a house and moved out of his rented room. Now he wanted more. Over the next few years Scott started amassing more and more rentals, taking as many financing options as he could get his hands on. By the time he was 25, he already had 25 units and a significant amount of profit coming in every year. This only pushed Scott to strive for bigger and better deals. Now Scott owns hundreds of rentals, and spends his time between Florida and Canada, finding more deals, and fixing up more rentals. Scott is a tried and true investor, one who has gone through different market swings, different fads, and many different tenants. While he’s only in his early 40s, he has amassed an extensive knowledge of the real estate space. It’s no surprise he’s one of Brandon’s real estate heroes! If you liked this episode be sure to tune in this weekend for part 2 of Scott's interview! In This Episode We Cover: When is the best time to get started in real estate? Why most people are scared to invest, and what pushes them to finally do it Amassing a small real estate empire even while you’re young How to take advantage of financing offers and how Scott closed on 8 houses in the same day Why you need to give your investing career time to start rolling What a “double offer” is, and how you can use it to beat others to a deal Why you should take action even when the market is uncertain The ScottMc Method And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Shirt BiggerPockets Podcast Income Property Show Grant Cardone Brandon's Guesting in Scott's Podcast Check the full show notes here: http://biggerpockets.com/show434 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the bigger pockets podcast show for 34

0:03.9

Once you've identified an opportunity that is profitable in real estate

0:08.0

Don't ask any more questions via what are you waiting for like I say if you've been able to calculate that this is going to make me

0:15.9

$200 a month with the hell are you waiting for?

0:19.1

Buy it don't wait for the one that makes 250 buy that one as well, right by them all

0:24.6

You're listening to bigger pockets radio

0:26.9

Simplifying real estate for investors large and small if you're here looking to learn about real estate investing without all the height

0:34.9

You're in the right place

0:36.9

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

0:42.7

Your home for real estate investing online

0:46.1

What's going on of what it's Brandon Turner host of the bigger pockets podcast here with another phenomenal episode with a real estate

0:52.2

Hero of mine. I use that word very seldom in my life, but I'm not kidding this our guest today

0:58.2

Scott McGivalry

0:59.7

Hope I'm not butchering the last name too bad

1:01.6

We joked about that on the show about trying to pronounce that he was a guy that really got me into real estate

1:07.4

heavily back in like 070809

1:10.0

With a television show he had called income property was on for like 12 seasons

1:14.3

We talk about that a little bit today, but I'm pumped about that David Green

1:18.1

Welcome to the show. I didn't forget about you. I just couldn't stop gushing about Scott. How you doing man?

1:23.4

I'm good. Hey, I wouldn't blame you for gushy. We just got done recording him and it was that was terrific

1:29.2

Yeah, you're just starting off trying to figure out how do I get over the initial hurdles where I'm stuck or you

1:35.1

You got a little momentum and you're trying to figure out how do I get to the next step?

...

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