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BiggerPockets Real Estate Podcast

913: 150+ Deals in 3 Years and Why You DON’T Want to Be a Landlord w/Don'nell Greer

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.816.6K Ratings

🗓️ 13 March 2024

⏱️ 47 minutes

🧾️ Download transcript

Summary

Most real estate investors do a few deals a year if they’re lucky. But today’s guest was doing twenty to thirty real estate deals a MONTH. That’s right—not per YEAR, per MONTH. And he did it all while scaling his real estate business at lightning speed. The best part? He didn’t have to use his own money to get there—his deals were being funded completely by private partners, and if you stick around, you’ll know exactly how to do it, too! After closely observing investors while he was a real estate agent, Don’nell Greer got the hang of finding and tackling profitable real estate deals. After much analysis paralysis, he got his first deal under contract—an $80,000 home that needed some heavy sweat equity to make it profitable. With high rents and low home prices, Don’nell knew the deal would work, but he needed more money. Through a family loan, Don’nell realized the power of private money, and once he saw the possibilities, there was no turning back. Fast forward soon after, and Don’nell was borrowing hundreds of thousands of dollars from millionaire investors he met through his network. Thanks to the new source of funding, Don’nell was able to flip dozens of houses a month, making a life-changing business in the process. But it wasn’t all good news. Partnership problems, rising interest rates, and changing market dynamics forced Don’nell to make a hard pivot—a pivot you may have to make in the future! In This Episode We Cover: How to get past analysis paralysis and get your first real estate deal in the bag How to use private money to fund your real estate deals when you’re low on cash Flipping twenty-thirty houses a MONTH by scaling your real estate business  Taking a chance on tenants and why most landlords say “no” to some of the best renters  How Don’nell corrected course when rising interest rates put his flipping business at risk The power of coaching and mentorships and why you need a strong real estate community to succeed  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 Join BiggerPockets for FREE 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 Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Hear Dave and Henry On the “On the Market” Podcast Dave's BiggerPockets Profile Dave's Instagram Henry's BiggerPockets Profile Henry's Instagram Find Your Next Home Insurance Contact Don’nell Greer Made $70,000 on the First Property. Now He’s 200 Flips Into His Career—Here’s How He Did It Connect with Don'nell: Don'nell's BiggerPockets Don'nell's Facebook Don'nell's Instagram Don'nell's LinkedIn Don'nell's Website Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-913 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey everyone, welcome to the BiggerPockets Podcast. I'm your host today at Dave Meyer and I'm joined by my friend Henry Washington.

0:08.0

Henry, how are you?

0:09.4

I'm doing fantastic, Dave. Love, love being here with you.

0:13.0

Man, I'm excited to be here too. I'm just excited that you're my co-host today.

0:17.7

I'm excited that everyone is here listening to this podcast.

0:21.3

I mean, you could listen to like 10 million different podcasts,

0:24.5

but I am glad that whether you're new

0:26.8

or you've listened to 900 episodes of the BiggerPockets

0:29.7

podcast, that you're still here with us today learning about real estate and how to be a successful

0:35.5

investor. Henry, what do we have in store for all of our friends and listeners today?

0:40.4

So today we have an investor story and we share investor stories weekly here to get you inspired and to take action and provide a glimpse into what are real investors doing what kinds of deals are they doing and what's happening right now in the market.

0:55.2

So this week we're bringing on Donnell Greer, who's done over 150 deals.

1:00.8

You'll hear about how he started investing in the Dallas Fort Worth market, how he

1:04.7

scaled his business there, and why he chose to exit that market.

1:08.3

Don't know how it's such a cool story. It's just one of those stories of scaling

1:11.9

really quickly, and I think he's going to bear it all for us.

1:15.7

He's going to tell us the good parts about it, the challenging parts about it, how you get through

1:20.4

some of those difficult times as an investor.

1:23.2

He's also going to share with us how he did something that I think is super cool,

1:28.0

which is finding the right strategy that matches your personality and your personal circumstances and

1:33.8

figuring out really what's right for him, how he used my private money to scale

1:38.5

so there's so much good stuff in here that I think everyone listening is going to gain some

...

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