804: What to Do TODAY to Instantly Find More Real Estate Deals

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 13 August 2023

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Support the relief efforts for the Maui wildfires by donating to the organizations below or clicking here. Together, we can make a difference for those affected by this tragic event: HAWAI‘I COMMUNITY FOUNDATION: https://www.hawaiicommunityfoundation.org/maui-strong MAUI UNITED WAY: https://mauiunitedway.org/ MAUI FOOD BANK: https://mauifoodbank.org/ MAUI HUMANE SOCIETY: https://www.mauihumanesociety.org/ RED CROSS: https://www.redcross.org/local/hawaii.html _____ Real estate investing isn’t what it used to be. Back in 2010, in a post-crash housing market, almost any property in any area could cash flow easily. Back then, the question wasn’t “Where are the deals?” It was “Which deal should I buy?” But things have changed, and now in 2023, homes are hard to purchase, let alone cash flow, and more and more real estate investors are giving up simply because they don’t know the new rules of the game. So, here’s what you NEED to know. Before we unlock every wealth-building secret in the book, let’s welcome back Danny Zapata, Philip Hernandez, and Wendy St. Clair, our recent mentees of the ninety-day mentorship! We brought them back on the show to talk about deals they’ve done, the progress they’ve made, and where they’ve fallen off track. One mentee left their job, another is handling headache evictions, and one had to put a pause on real estate. But now, they’re ALL ready to expand their empires, but they’ll need some advice first. In this episode, David and Rob show you how to get more real estate deals TODAY, why you’re doing meetups all wrong, the reality of cash flow and why “mailbox money” isn’t what it used to be, and what to do when you CAN’T find the momentum to keep growing your wealth. In This Episode We Cover How to find more real estate deals instantly (even in 2023!) The “reverse escalator” of wealth and why most Americans are getting left behind What to do when you’ve lost momentum along your real estate journey Replacing your job with real estate and the smartest, cheapest way to buy home-run rental properties Why you MUST sacrifice short-term cash flow for long-term wealth And So Much More! Links from the Show Find an Agent Find a Lender 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 Instagram Rob's TikTok Rob's Twitter Rob's YouTube Attend a BiggerPockets Meetup BiggerPockets Podcast 708 BiggerPockets Podcast 719 BiggerPockets Podcast 726 BiggerPockets Podcast 738 Connect with Danny, Philip, And Wendy: Danny's BiggerPockets Profile Danny's Instagram Philip's BiggerPockets Profile Philip's Instagram Philip's Website Wendy's BiggerPockets Profile Wendy's Instagram Recorded at Spotify Studios LA. Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-804 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi, everybody. Scott Trench here CEO of bigger pockets and with us today, we have a very special guest on a very sad occasion.
0:06.7	Our founder Josh Dworkin here to share a very important message.
0:09.8	Hey, Scott, good to, good to see you, man.
0:12.4	Sorry, it's under these circumstances.
0:15.2	So for those people living under a rock, um, we, uh, in the last couple of days have seen horrific, horrific devastation on Maui.
0:26.4	Basically, what happened was there was a hurricane that passed five six seven hundred mile south of the island and, uh, bringing in crazy, crazy winds, which sparked, um, terrifying wildfires across various areas of Maui.
0:44.3	Um, I was personally affected by this.
0:49.2	Uh, we live in a neighborhood called, uh, key hay.
0:52.8	Uh, we were evacuated. My family and I were evacuated, uh, two nights ago, uh, at 11, 30 at night and had to figure out where to go.
1:01.6	And, um, it's kind of hard to know where to go when, you know, the, the island is burning pretty much everywhere.
1:09.2	So, uh, it was terrifying and, um, you know, but, but we're lucky.
1:16.1	We, we were able to go home the next day.
1:18.3	Um, we, we did end up evacuating again the following night, which was last night.
1:24.2	Again, we're able to return home safely.
1:26.8	Unfortunately, um, we know lots of people who don't have the same privilege personally.
1:34.5	Um, there are still some fires burning on the island right now.
1:38.2	As we speak, uh, it is Thursday, uh, the 10th at 715 PM, um, August.
1:45.9	And, um, so that's, that's still scary.
1:49.6	But really the big story here is, uh, the city of Lahaina.
1:53.9	So Lahaina is just this was, um,
1:58.4	um, this amazing, beautiful, incredible destination, the city that, um, was home to 13,000 residents, um, peoples, families, individuals, um, and was, um, just an amazing tourist mecca, um, essentially, the entire city has been wiped off the earth.
2:26.6	Um, not just the downtown area.
	...

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