722: David Greene's Untold Story of 7-Day Workweeks to 7-Figure Net Worth

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 2 February 2023

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Cash flow, cartels, building a real estate empire, and everything in between—this is the story that many have yet to hear. The world of a real estate investor can seem glamorous. There are always so many properties, cash flow, retreats, speaking events, and jam-packed, money-making schedules that most nine-to-five workers would be envious of. However, what you’re seeing is the result, not the journey. What about the seven-day work weeks, the night shifts, the financial stress, the bad tenants, and the failures? This is what made David Greene what he is today. To most, David Greene is the epitome of an entrepreneur. He owns a multimillion-dollar real estate portfolio, multiple cash-flowing companies, and hosts the best real estate podcast ever (we’re not biased). But just fourteen years ago, this was far from his reality. David was waiting tables, working at restaurants, trying to become deputy sheriff, and had no real estate to speak of. He sacrificed almost every weekend to make more money so he one day could own his schedule. In this episode, you’ll hear precisely how David hustled for years to buy his first property, how his first tenant stole thousands from him, the long nights he spent working overtime to save up even more, and how eventually everything clicked, and he started building wealth at record speed. If you want an authentic look into the making of a real estate tycoon without the rose-colored hindsight, this is the episode to tune into. In This Episode We Cover: Investing during the great recession and why most investors wouldn’t touch real estate The worst first-rental property experience ever and why you NEED to screen your tenants Why every investor needs to respect money, not just try to make more of it Doing whatever you have to do to save up, invest, and build a brighter future for yourself Building the BRRRR strategy and accidentally finding a way to recycle down payments Out-of-state investing and how to pivot when your market becomes too expensive Strengthening your financial foundation so you can invest wisely and work way less Rob and David’s Russian-Mexican Spanish and how to confuse everyone in Latin America And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Rob's BiggerPockets Profile Rob's YouTube Rob's Instagram Rob's TikTok Rob's Twitter Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene Books Mentioned in the Show BRRRR by David Greene Long-Distance Real Estate Investing by David Greene SCALE by David Greene SKILL by David Greene SOLD by David Greene Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-722 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets podcast, SHOUT, LIVE FROM MEXICO!
0:03.7	My philosophy is that building wealth is a free pillar system.
0:07.9	There's offense, there's defense, and there's investing.
0:10.2	If you cannot save money, it doesn't matter how much money you make, you'll never be off me.
0:14.8	You'll just lose it.
0:16.0	If you're very good at saving money, but you cannot make money, you will be grinding your entire
0:20.5	life and never being satisfied. If you're one of those people that's like, I live off of $12,000
0:25.2	a year, but I make my own soap, and I wear the same socks every day, and I wash them my hand.
0:30.3	You're not getting the most out of yourself.
0:32.4	And then if you're good at making money, you're good at saving money, you'll die with a big
0:35.1	savings account, but never have passive income, never have exponential growth, you have to build to
0:38.9	invest the money. What's up everybody? This is David and Rob coming at you from MEXICO,
0:43.8	where we are enjoying a wonderful getaway in Cabo. I believe this is, is it called Cabo because
0:48.8	it's Cabo San Lucas or are those two different places? I for now, it's Los Cabos.
0:52.4	You know, I don't know. I think it's Cabo San Lucas. I think it's just one here.
0:56.2	There's several Cabos. Maybe Cabo San Lucas refers to all the Cabos. Perhaps somebody here has to know.
1:01.2	It's the most gorgeous place I've ever been. This is my favorite place in the world now.
1:04.8	I'll be it. I don't travel a ton, but I love coming here. Kyle and I were actually talking
1:09.2	about wishing that we could put events together at this place. This would be really cool.
1:12.2	Yeah, there's a lot of things. It's a Maria Villa.
1:15.2	The hotel, the service, the food, everything here is very rich.
1:21.7	It's very tasty, just like my face. That's how that translates to.
	...

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