479: 10 Powerful Lessons Brandon Learned Building a $50M+ Rental Portfolio

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 20 June 2021

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

We all reach a point of complacency. We tell ourselves that we’ve done enough, it’s too hard to go further, or we don’t have enough experience, money, or time to accomplish the goals that seem impossible. Brandon Turner, host of the BiggerPockets podcast, was feeling this way too, sitting on a decade worth of real estate, with enough passive income to live his life how he saw fit. It wasn’t until Brandon started surrounding himself with people who did much more than him that he realized he wasn’t hitting his true potential. Now, leading the real estate syndication Open Door Capital, Brandon has more than 10x-ed his rental portfolio, built a life he loves in Maui, and worked with some of his heroes. This wasn’t by accident, it also wasn’t dropped into his lap. Brandon spent serious time thinking about his “vivid vision” of the future, what he wanted out of life, and who would help him get there. He’s had ups and downs, with some of his favorite employees leaving, partnerships falling through, and deals being lost. All of these proved to be valuable lessons in his ongoing work to create a mobile home empire and become the best of the best at what he, and his team, does. In This Episode We Cover: The 10 lessons Brandon learned starting Open Door Capital Why it’s crucial to have a goal for your life and shoot towards it Understanding when you’ve become complacent and finding inspiration Giving up more to work with partners who will bring you far, far greater returns Working for your employees and doing anything you can for their success How coaching allowed Brandon to open up his mind to huge possibilities Using a “Hunger Games” style recruiting technique when finding new talent And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Youtube Channel BiggerPockets Membership BiggerPockets Book Store Open Door Capital BiggerPockets Podcast 403: Developing a Millionaire’s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason Drees BiggerPockets Podcast 369: Escaping the Day-to-Day Grind to Work on Your Business with Jefferson Lilly BiggerPockets Podcast 246: Surviving the Coming Crash, Earning 20% Returns, and Buying Mobile Home Parks with Kevin Bupp BiggerPockets Podcast 447: Create Your Dream Life in 3-5 Years Using Vivid Visions with Cameron Herold BiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray BiggerPockets Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian Murray Pre-order Multifamily Millionaire by Brandon Turner and Brian Murray https://www.biggerpockets.com/show479 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, 479.
0:04.6	When you have that vision, when you know,
0:06.5	when you finally make the decision, this is where I'm going.
0:09.8	Like everyone else around you's like, hey, he's going somewhere.
0:12.0	Let's go with him.
0:12.9	Like that's what leadership so much is about is not about having the perfect answer.
0:16.6	It's not about knowing like this is like the perfect solution.
0:19.3	And I'm like, it's just making a decision and going with it.
0:23.5	You weigh your options.
0:24.5	You say these are my different options.
0:25.7	I'm just going to make the decision.
0:26.9	And if it's the wrong decision, I can correct course later.
0:29.7	You're listening to bigger pockets radio,
0:32.2	simplifying real estate for investors large and small.
0:35.9	If you're here looking to learn about real estate investing,
0:38.5	without all the hype, you're in the right place.
0:41.8	Stay tuned and be sure to join the millions of others
0:44.7	who have benefited from bigger pockets.com.
0:47.7	Your home for real estate investing online.
0:50.9	What's going on with Brennan Turner host of the bigger pockets podcast here
0:54.4	with my co-host at least for now, David Green.
0:57.7	What I mean by that.
	...

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