I Had ZERO Experience and Replaced My Income with Real Estate

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 29 September 2025

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Have zero experience in real estate investing (literally no idea where to begin)? This guest proves you could be financially free in ten years or less if you start today. Just a decade ago, Peter Fife was broke, working a dead-end job, and never thought about investment properties. He had such little money that when a book on investing piqued his interest, he would sit in a bookshop reading it, but never buying it. His brother, who had some money but bad credit, asked Peter to use his credit to fund a renovation on a triplex. Both had no idea what they were getting into—essentially a second job after their nine-to-fives, painting, replacing floors, scrubbing walls. The profit from the first deal? Close to a six-figure check, replacing Peter’s income. He then did his spin on the BRRRR method—buying, renovating, reinvesting, and repeating—quitting his job with just two properties. Now, less than a decade later, he’s financially free with enough passive income to support him and his wife. He took some huge risks, including selling everything he worked for to buy one really run-down property. The gamble worked out, and he’s still using the same formula today! You don’t need experience to start investing, just follow Peter’s framework! In This Episode We Cover How to invest in real estate when you have no money or experience to start The shadiest lender ever (please don’t do what Peter did) Why you must reinvest profits from your first real estate deals How to know it’s time to quit your job to go all-in on real estate investing Peter’s repeatable BRRRR formula (buy, rehab, REINVEST, repeat) Why Peter sold his best rentals to buy a beat-up multifamily property (and how much it makes now) And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/real-estate-1180 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

Click on a timestamp to play from that location

0:00.0	This investor went from buying a single property to owning multiple apartment complexes and cash
0:07.3	flowing $7,000 per month, all in less than 10 years. Peter was working a dead end job in 2018
0:14.6	when his brother suggested fixing up a house that was about to get foreclosed on. A year later,
0:19.5	they each made nearly six figures.
0:22.2	And then Peter was hooked on real estate investing and was willing to do whatever it took
0:26.9	to build a profitable portfolio, including sleeping in his truck for several weeks while
0:32.2	renovating a new property. That dedication has paid off with nearly a 3x return and a repeatable new investing
0:39.1	formula. Let's hear exactly how Peter makes these deals work.
0:48.0	Hey everyone, I'm Dave Meyer, head of real estate investing at Bigger Pockets, and on this show,
0:52.9	we teach you how to achieve
0:54.3	financial freedom through real estate. Our guest on the show today is Peter Fife from
0:59.6	Provo, Utah. Peter started investing with just a single triplex and co-called more than 20
1:06.7	lenders to find funding for that first deal. Today, he's able to clear million dollars on some
1:12.8	individual deals. He scaled up by getting creative and hustling to make deals work that other
1:18.6	people overlooked, enduring a lot of short-term discomfort to achieve long-term success. Peter did all
1:26.0	this by going all in. He burned the boats. And it's not for everyone,
1:30.5	but this is a super inspirational real estate journey that's only getting better. Let's bring on Peter.
1:37.5	Peter, welcome to the Bigger Pockets podcast. Thanks for being here.
1:40.8	Thanks for having me. I'm excited. Yeah, this is going to be a great show. Let's start by hearing your background. Who are you?
1:46.4	Where do you live? And how did you get into real estate? I lived in Manta, Utah, farm town. Not a lot of access to real estate. Not a lot of stories there. But I started out in real estate because I was kind of at a a job that I didn't want to be at for the rest of my life.
2:00.8	And, yeah, I had an opportunity to kind of fall on my that I didn't want to be at for the rest of my life. And, yeah,
2:01.6	I had an opportunity to kind of fall on my lap with my brother and went from there.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.