87: How to Thrive After The Collapse of a Real Estate Empire with Nathan Brooks

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 11 September 2014

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

Failure is no stranger in the real estate industry which is why we are excited to bring Nathan Brooks to The BiggerPockets Podcast today, an investor who knows firsthand that real estate can be tough! Nathan is an investor (both flips and rentals) from Kansas who went through a very difficult period during the real estate crash, losing all his properties and filing bankruptcy due to a shady partner and jumping in too quickly. Nathan has since emerged as a much stronger real estate investor and carries an incredible story with numerous lessons to share. Get ready to learn how failure can transform your life! In This Show We Cover: How Nathan found his first business partner at lunch Why Nathan bought two houses as a newbie – and lived to regret it How to find partners through BiggerPockets The opposite of paralysis by analysis How Nathan ended up filing bankruptcy Nathan’s current (more conservative) investing strategy Dealing with tenants in a $20k property How to make a unit stand out among the competition Dealing with “Cat Ladies” and “Hoarder Houses“ How Nathan finds deals Finding mentors and lenders on Craigslist? How to find a real estate-minded attorney And so much more! Books Mentioned in the Show The Millionaire Real Estate Investor by Gary Keller The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone The Four Hour Workweek by Timothy Ferriss Unlimited Power : The New Science Of Personal Achievement by Anthony Robbins Tweetable Topics Don’t go into business with someone you don’t know. It’s just stupid. (Tweet This!) The lessons I’ve learned have made me a better investor today. (Tweet This!) There’s a deal for everyone, but this deal might not be for you. (Tweet This!) The job of a Real Estate Investor is to solve problems. (Tweet This!) Know the answers before asking the questions. (Tweet This!) Connect with Nathan Nathan’s BiggerPockets Profile Nathan’s Company Website Nathan’s BiggerPockets Blog Posts Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast, Show 87.
0:05.0	You're listening to Bigger Pockets Radio,
0:08.0	simplifying real estate for investors large and small.
0:11.0	If you're here looking to learn about real estate investing without all the
0:14.6	height, you're in the right place. Stay tuned and be sure to join the millions of others who have
0:20.4	benefited from bigger pocketsPockets.com.
0:23.0	Your home for real estate investing online.
0:26.0	What's going on everybody? This is Josh Dorkin, host to the BiggerPockets podcast,
0:31.0	here with the Traveling Man, the guy who hasn't been around for weeks and weeks.
0:36.4	The guy trekking across America, Mr Brandon Turner, what's up dude?
0:41.0	It is good to be home. I'm finally back in my office for at least a couple days.
0:45.0	Yeah, yeah, it's good to have you home man. It's tough when you're not around.
0:50.0	Thanks. I had a good time. I went to the Minnesota State Fair and a family reunion, played at a wedding,
0:55.0	got to see a cop chasing a cow down the road in Montana.
0:59.0	That was exciting.
1:01.0	Nice. Yeah, it's been a good time and I'm back home. So deep fried butter? I did not get any deep fried butter this time. But you got a bucket of cookies I saw. I did get a bucket of cookies. Sweet Martha's cookies. If you're a Minnesota person, you know exactly what I'm talking about when I say like, I would kill someone for them.
1:17.6	I never got a bucket in my mailbox. You know, here's the thing with Sweet Martha cookies. They're not as good about 15 minutes after you buy them.
1:25.4	You have to eat the whole bucket when they're hot and warm and amazing.
1:29.6	Nice. Yeah, nice. Yeah, everyone's now really jealous. Be jealous people.
1:33.4	That sounds good.
1:34.4	All right, all right, all right.
1:35.4	Well, today, I'm glad you're back, it's awesome.
	...

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