609: Seeing Greene: Gift Funds, Crash Indicators, and Problems with Partnerships

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 15 May 2022

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why can’t I use gift funds on my down payment? What are the common housing market crash indicators that real estate investors should look out for? And why does David only invest with the short-term rental king, Rob Abasolo? If you’re joining us today for this episode of Seeing Greene, you’ll hear answers to all these questions and more! David takes some time out of his day to sit down and answer arguably the most hard-hitting, specific questions we’ve had to date on an episode of Seeing Greene. These questions include how to find synergy between your career and your investing goals, how to not cross the line when working with multiple agents, the best ways to purchase real estate with no (or low) money down, and why David rarely partners up on real estate deals. Some of these questions may hit home for you, as most of today’s guests are either rookie real estate investors or young professionals looking to get their start in investing. Do you have a question you’d love to ask David? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot! In This Episode We Cover How to "explode" as a real estate investor working full-time in a related field Working with multiple agents in a market without crossing the client-exclusivity line Purchasing small multifamily deals with no and low money down How to get around the “gift funds” rule for rental property mortgages The telltale signs that lenders are seeing a housing crash on the horizon The problem with real estate partnerships and how to prepare to be in one And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Submit Your Questions to David Greene David Greene Meetups David Greene Team Work with David as a Loan Officer Real Estate Rookie Podcast 73: Partnerships—What to Do Before You Jump in With Another Investor Get Your Ticket for BPCon 2022 Books Mentioned in the Show: The Book On Investing in Real Estate with No (and Low) Money Down by Brandon Turner SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business by David Greene The Millionaire Real Estate Agent by Gary Keller with Dave Jenks and Papasan Connect with David: David’s Instagram David’s BiggerPockets Profile Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-609 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pogas Podcast Show, 609.
0:04.6	As far as practical advice for you, on the next deal, don't do it.
0:07.9	Figure out a way to do it without a partnership, and if you have to have a partnership, don't do equity splits.
0:12.5	This is one of the reasons that in general, I don't do equity, I pay people debt.
0:16.5	What that means is people let me borrow money all the time.
0:19.1	And I just pay them a return that they know they're going to get, and it doesn't matter if the
0:23.3	property completely falls apart. They get paid anyways. I don't like sharing risk with people that
0:28.8	I'm a partner with because it ruins relationships, and it's important to me that those relationships stay healthy.
0:40.1	What's going on, everyone? My name is David Green, and I'm your host of the Bigger Pogas Real Estate Podcast.
0:45.6	If you're not watching this on YouTube, then you don't see the green light shining behind my head,
0:49.7	but if you are, then you know what that means. This is another seeing green episode.
0:54.1	In today's episode, I'm going to take different questions from different podcast listeners,
0:59.2	or bigger pockets members, and do my best to solve their problem, give them advice, or help them
1:04.0	scale their business faster, more safely, and in a better direction. These episodes are specifically
1:12.7	meant to teach you more about Real Estate by giving you my perspective. Now, I'm a real estate agent.
1:17.6	I run a real estate team under Keller Williams. I own a loan company called the One Brokridge.
1:22.0	I invest in short-term rentals, long-term rentals, multi-family property, commercial
1:26.4	multi-family property, triple net property, I own note income, I flip houses, and I write books
1:31.7	and stuff like that. So I have a very well-rounded perspective that I like to share with everybody here.
1:36.8	And the goal of shows like this is to take you deeper behind the curtain to see what's really going
1:41.6	on in Real Estate rather than giving you the shallow answer that you can get anywhere else.
1:45.7	So thank you very much for joining me. I really hope that you enjoy today's episode. And if you do,
	...

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