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BiggerPockets Real Estate Podcast

480: Making $200k a Month After Being on the Verge of Bankruptcy

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.816.6K Ratings

🗓️ 24 June 2021

⏱️ 72 minutes

🧾️ Download transcript

Summary

At one point, Dan Brault had a construction company working on custom builds in upstate New York. He had left behind a successful sales career to do it and although he was highly stressed, he felt all of his hard work was going to be rewarded sometime soon. That is, until, he had a huge project that went over budget, over the timeline, and forced him into $400,000 worth of debt. Dan closed his company, went back to sales and started to think about what he did wrong. Was it the leadership? Was it the system? Was it just bad luck? Dan went to work, doing whatever he could to level up his business skills so he could get back into real estate full-time and do so in a way that allowed him to scale. Now, after going through many of life’s lessons, Dan is doing phenomenally, with him and his team closing on 12+ wholesale deals a month, getting him close to $200k in monthly revenue. He credits his success to his systems, his team, and the way he pivoted his leadership that allowed the entire company to work as one well-oiled machine. In This Episode We Cover: The danger of buying cheap homes in C or D-class neighborhoods On-market vs. off-market properties and which investors should go for off-market deals Dan’s favorite off-market strategies and the way he gets most of his leads Finding the “price behind the problem” so you can close on more deals Forming partnerships with real estate brokerages as a wholesaler The high costs of running a wholesaling team What sets apart gurus and gimmicks from real, honest coaches And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Youtube Channel Tony Robbins BiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe Asamoah Facebook Marketplace Darrin Damme of Bullseye Branding Left Main REI GoBundance JD Mindset Academy Beardy Brandon Check the full show notes here: http://biggerpockets.com/show480 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 480 so I ended up like

0:06.3

$400,000 in debt and I didn't earn anything that year we were selling stuff out of our house

0:12.3

I liquidated my 401k. I was selling rental properties

0:16.4

We were on the brink of bankruptcy

0:20.0

You're listening to bigger pockets radio

0:22.9

Simplifying real estate for investors large and small

0:25.9

If you're here looking to learn about real estate investing without all the hype. You're in the right place

0:32.3

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

0:38.2

Your home for real estate investing online

0:41.5

What's going on? I'm on its bread and turn her host of the bigger pockets podcast here with my co-host

0:47.4

Mr. David in my guard green. What's up man? How you doing? Very nicely done sneaky as well

0:54.0

That's my favorite spot is I want you in my guard and when we're on real rolling jujitsu

0:58.6

But is that weird? I don't know if I can try and heal you off from there people have no way to we're talking about right now

1:03.9

But no you trying to go everybody from there. I've told people it's like wrestling Dalson from Street Fighter 2

1:09.2

You're like just go so long. Oh, that's I don't know if that's a good thing or not

1:13.9

Well, we're back for another show today and this show is just fire like just amazing both like actual like step by step

1:22.0

Instruction and how they get off market deals

1:24.0

But also you're gonna hear just a very powerful story from our guest today

1:27.4

His name is Dan bro and Dan is a real estate investor been in about about five years and has gone through

1:33.4

Like did really well had some really hard times you're gonna hear about that and that you mean like 400 grand and dead at one point lost a bunch of

1:41.5

It was crazy on the breakup bankruptcy and then has emerged out the other side and it runs a very successful

1:47.1

Real estate business right now and they focus primarily our entire line off market

...

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