732: Seeing Greene: Side Hustles, Syndications, & Escaping a W2 with Real Estate

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 26 February 2023

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want to quit your job for real estate? Not so fast. Trading your steady W2 for rental properties could be a risk that isn’t worth taking in 2023. But why? Isn’t the point of property investing to reach financial freedom and leave your W2 behind? Stick around for the full perspective from expert investor David Greene. His advice could save you money and time when deciding whether or not staying at your job is the right move to make! Welcome back to another episode of Seeing Greene, where your favorite agent, broker, Batman-voice-impersonator, and podcast host, David Greene, answers your most-asked questions on real estate investing! This time around, we hear from a new investor who wants to know the best real estate side hustles, a mid-career worker who’s undecided on how he should best use his cash to invest, and we even receive a call all the way from New Zealand on how to pick the best real estate market. David also goes deep into why outsourcing is SO challenging (at first), where the BRRRR method WON’T work, and the problem with coaching programs. Want to ask David a question? 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 hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: The best real estate side hustles for investors who want some extra cash What you need to know BEFORE you quit your job to invest full-time Real estate market research and the best cities to invest for cash flow Scaling your business and your portfolio and the secret to outsourcing work Why the BRRRR method WON’T work in certain rental markets Appreciation vs. cash flow markets and when to pick one over the other Whether to buy more rentals, invest in syndications, or put up cash for a coaching program 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 BiggerPockets Real Estate Podcast 718 BiggerPockets Real Estate Podcast 690 BiggerPockets Money Podcast 305 Should You Invest for Equity or Cash Flow? Book Mentioned in the Show Long Distance Real Estate by David Greene BRRRR by David Greene Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-732 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 Show, 732.
0:04.4	I don't want you to ever compromise on excellence.
0:07.5	I do want you to think about where excellence is being applied within the goals of your life.
0:13.6	You can continue to do the work yourself and run a great business and get a lot of dopamine.
0:18.6	But as you recognize, if you want to scale, if you want to build wealth figure,
0:23.2	you need to be excellent at different things. And this is the struggle many of us get into once
0:28.0	we get good at something we don't want to let it go. What's going on everyone? This is David
0:31.8	Green, your host of the Bigger Pockets Real Estate Podcast. Here today with a seeing green
0:36.4	episode, you've never been to one of these. They're pretty cool. We bring in listeners just like
0:41.1	you to ask questions sometimes verbal and sometimes on video about struggles they're having with
0:46.0	real estate knowledge. They want to gain or what they can do to make more money as a whole.
0:50.0	And I'm passionate about helping y'all make some more money. So let's get into it.
0:54.0	Today's show is fantastic. We had really, really good questions. We talk about picking a market
1:00.2	and the order of operations like what should you look for when choosing a market? We talk about when
1:05.4	it's better to pursue equity and turn it into cash flow and when it's better to just start with
1:09.2	cash flow. We talk about insecurities when they show up, why they show up and how to deal with them
1:14.5	for different parts of real estate. And we talk about how to make a burr work in this market or an
1:20.5	individual market where it just doesn't seem like they're making sense. So we get into some
1:24.0	burr, railing advice from me. If I do say so myself, if you've been a burr investor and you're
1:29.2	being frustrated, you might like where we go with this one. I want to thank you guys so much
1:33.9	for being here. I know you're going to like this episode. I'm excited to get into it. Okay,
1:37.8	next up, let's hear from today's show sponsors. Passive income without the property headache.
	...

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