It’s more of a headache but it was one of those things, again, the light bulb didn’t come on. Now, you’re in the position where you can travel the world and enjoy real estate or you can create this thing that now you bring opportunity for me to get in because you’re leveraging me and it’s a good chance for me. That’s just definitely a shift that I’ve had in the last few years. My dad pretty much told me, “Hey, look at something with a larger profit margin.”. You’ll also love his tips for creating systems so he can travel while making money and identifying the qualities of a good agent. They just added that cloud. It takes just 30 seconds and instructions can be found here. Brandon Turner: Aloha. Robert Jones: Yes. Where were we? So, systems create freedom, right? Here. Welcome to the BiggerPockets podcast, Robert. Brandon Turner: A lot of people ask me that question. He wanted to get out of the deal, so he wasn’t adjusting dates for us or doing us any favors. Robert Jones: So, our goal initially was once a year, 12 months and a day, we do a look for the next house. We absolutely lived in the properties, we were doing everything by the books. Brandon Turner: Thank you. That’s where you met your wife. Insurance doesn’t touch it. The houses that did were 1.2, 1.2 million, and I was able to-. I’m just curious of where that was at and you can explain what that was. We got to show these people what this is. All right, Dave. You did the work yourself? 80% of the business goes from the top 20% of the agents. For all the reasons we just discussed, I believe I’ve made the right decision. We talk with Robert about the importance of finding your why. Robert Jones: So, at closing, we actually got paid. It is a triplex, a conforming legal triplex. Moved into it. That’s probably the number one way that I hear people get into real estate is, “Yeah, I just turned my house into a rental property.”. Good. We’ve got a property which was our first experience with methamphetamine. We walk through that in-depth, how it’s done. That’s what I tell all my clients. Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. So, well, very first house bought when we’re really young parents. Just buy a house. You hit it on the head when you said, “They’re just a friendly guy with a nice smile,” and nice cologne or a girl with a pretty headshot doesn’t mean they’d understand money or finances or what goes into a deal or how to protect your wealth or how to represent your interest. Do you regret that [crosstalk 01:02:39]? Well, that’s getting real easy. Robert Jones: … prorated rents and all of that. We’re not big sailors but we will be. Looking back at the deal, it was pretty illegal by today’s standards. Brandon Turner: But, anyway, for years, Catherine, your sister, has been like, “You need to talk to Robert. Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. The Book on Rental Property Investing: Brandon Turner. Brandon Turner: All right. David’s over here. Get after it. Brandon Turner: There you go. Northern Colorado is an unstoppable machine. Robert Jones: I like big beards. Brandon Turner - active real estate investor, best-selling author, and co-host of the BiggerPockets Podcast - has one goal in mind: to help you find success and avoid the junk that pulls down so many wannabes. Talked to another lender, no. How are you finding them? We’ll dig into this one a little bit more later but we did have a unique spot where we did an owner finance deal. They don’t want to ask their family for money but this was our first opportunity to dig into that. Read More. It truly was win/win for her. Should they become a real estate agent? I need to be aware of these things.”. Okay. Along with the massive attention and support from Facebook, he started experimenting by appearing on other media platforms like Youtube and Instagram. You just don’t have the depth of knowledge and your finger on the pulse of the market. Robert Jones: … looking at a mirror and you can see it and … But yeah, that’s easy. University of Arkansas. Robert Jones: I don’t really care about $32,000. Can you share some of the steps you took to systemize things so that you could be traveling and it didn’t all fall apart? Yeah. It was not her favorite three months of the year but again, we only owned six properties at that point, five or six properties amounting to probably 10 doors. Brandon Turner: Well, before we get into today’s deep show, let’s hear from today’s show sponsor. Into the pool. Skip to content Search. So, for those who have not heard the stack, basically what it is is your idea, when you’re first getting started, you buy a house, like a single family house maybe or maybe a duplex, whatever. Oh, that’s right. And that’s interesting thing, too, about these higher-end properties is and I don’t know if you’ve found this but I definitely found it. We’d hit up the Chili’s like once a quarter, share a meal, have water. I had a number of investor friends and client … Then, my friends that don’t invest. I can buy this house. There are people that are making a lot more money than me that are not nearly as smart as I am. David Greene: So, that’s just why I’m a big fan of systems in general is they open up doors for many people where only one person stood at one point. He owned a condo in Windsor that for a season, like five years, it lost $200 a month. What’s going on, everyone? For that sake, those investors are looking for a realtor. They want to be on vacation but it gives us the ability to do more and travel more, that works for the shorter vacations. And if it get you to where you’re at, then why not do it? We’re never going to sell any of these without replacing them in some form ever is our goal right now. Bryant McNeill from Trenton NJ, I just became a Pro Member on Bigger Pockets. There’s an older book, Smart Talk by Lou Tice. Also I love the Calculators. I paid 80,000 for a place and it rents for 1,200 a month.” I think, “Holy crap!” They’re talking about 1.5% lever on rents or one and a half times, which you don’t see. We were quite leveraged. Ingram spoke about his will … What is motivating you? We considered Belize, Nicaragua, Dominican Republic. Game over right? Brandon Turner: So, for whatever reason, I just get higher quality people who have less drama in their life. Yeah. I don’t think I’ve ever done a podcast directly across from somebody. Former Contributor. Using a phrase of random words (like: By signing up, you indicate that you agree to the, BiggerPockets Podcast 280: The Key to Making Great Deals (Hint: Overlooked Properties!) It’s easy. Isn’t that cool? We didn’t want to have just one place. [crosstalk 01:12:46]. Read Rich Dad Poor Dad and thought, “Hey. Brandon Turner: Interesting. The key is essentialism. You just got to want it bad enough to get after it. So, hang tight for that. You don’t think [inaudible 00:42:32]? Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. Facebook. The quality of life and the desirability of living there, the listener’s familiar, if you’re not, fhfa.gov is a website where you can look at, since 1991, they track prices, quarterly appreciation, annual appreciation, five-year appreciation. This was a "Game Grumps Animated" titled: "Game Grumps Animated: Jon vs Ikea." There’s some irony in here as well. Taking my time listening to pod cast, reading forums, starting to network with others on bigger pockets. Everyone, don’t get caught up in the actual specifics here but then an eightplex the year after, 16, 32, 64. That’s terrible.” It was fun. They had a warranty. 2. Those first cash flow properties that we’re all buying, the get us out of the rat race. Can you think that ever been given, David? David Greene: We can get a low down payment and we can rent out part of the house. Then, we tried to owner occupy a triplex for our fifth property. David, do you remember [crosstalk 00:56:55]-. You did not buy an investment. Her eyes just opened up like, “Oh, my god. It is. If it’s just a thing you’re ho-hum about, stay far away from it because 80% of the agents have to split 20% of the business. What holds most people back is bravery. Brandon Turner: You probably should, backwards so you remember it [crosstalk 01:13:50]. Then, it, as the market goes up …. Instead of having to do this over 10 deals, you did it over one deal. We’re not going to call you back.” Now, we did communicate via email but our financial prudence pulls as far as frugality and just making sure things are handled appropriately. So, we’re working there. If they want a career change and they want to do it as a career or a full-time investor where they’re really actively analyzing those markets on a regular basis. “$5,000 deposit for the damage?”. David Greene: If you love real estate, there’s a need for agent who love real estate. I’m talking anything from high rises in D.C. to multi-families in L.A. — institutional-quality stuff. So, really easy. We were adamant on that. You got in there but then the second thing you did, which was cool is that you turned that first property into a rental. So, I didn’t know anything about hard money, anything about portfolio loans or these more creative ways of getting real estate. But we are talking about all things … He talks about how he put together some no-money-down or low-money-down deals using something called cross-collateralization. I mean, we bought a lot of properties when Sarah and I were considering in our more risk-tolerant days. Robert Jones: Yeah. Just recycle it into more properties? Create an account today to get BiggerPocket's best blog articles delivered to your inbox. So, we needed to come up with 90,000. We looked at Mexico and all their laws down there. Billionaire. Any big problems, we got an email. And it’s 810, 815 credit scores, a five-pound dog, no kids. So, if it’s becoming a realtor solely to save the 3%, my answer’s a hard no. Robert Jones: So, we did an FHA loan, which at the time it was 3% down, not three and a half. Robert Jones: Probably grit. Brandon Turner: All right. 5.0 out of 5 stars Gift for a friend. So, my wife at the time was working at the bank making, I think it was $23,000 a year, something like that. Brandon Turner: The whole cross-collateralization. We’ve got some extra money now.” But, again, I didn’t know about BiggerPockets. It doesn’t even matter what it is. It’s not an owner-occupied loan.” So, literally, we are packing boxes to move into the house and realized, we don’t need to move into the triplex. He’ll represent you on that. Brandon Turner: That’s awesome. That’s funny. Brandon Turner: So, I do it every week no matter where in the world I am. Brandon Turner: The company’s goal but then some people just won’t take a vacation because they can’t dedicate 100% of their time to vacationing. Big thanks for our sponsor always. The WalkAway movement was started by Brandon Straka, who left the Democrat party and became a Trump-supporting conservative after the 2016 election. Yeah, I think it’s an interesting point. So that’d be my advice to anybody. Twenty years ago, teen prodigy Brandon “Li’l B” Turner of San Diego was a global superstar in the skateboarding world. Almost five years into my sales business. You just click the one button. All right. [crosstalk 00:08:44]. And even looking at tax strategies. I didn’t even know that it was a path that I could take, so decided to go into sales first. Former Contributor. This has been a fantastic show. Call David Greene. Brandon Turner: I’m doing good. He continued to post exclusively Game Grumps animates until January 2, 2017, when he first posted an OneyPlays animated, titled: "Oney Plays Animated: Games Thyroid." All I can see is my boss and small thinking. We’d move into it. Well done. Robert Jones: So, there’s more leniency there now, too, compared to a few years ago. It’s robertforrealestate, Robert F-O-R-. I was like, “Let me try this again. That’s in 2011, when the guideline changes shifted and they added pending underwriter discretion. Those properties got me out, which gave me the ability to start building more wealth. We paid for it all. Slowing down, paying off, or really wrapping things up if beardy Brandon needs a partner in a mobile home complex. Brandon Turner: All right. Then, build equity pretty quickly upon renovations and just cleaning the place up. View Photos. Brandon Turner: So, do you advise that for other people today when you’re talking to people, your clients or whoever that, “Yeah, turn your old property into a rental,” I mean, because you, as an agent, have a … You’d rather have them sell because you are an agent. We decided take a little sabbatical which started out, “Hey, we’re going to take a week off,” which that’s going to be vacation. Robert Jones: Yeah. There’s no excuse anymore for ability. So, in Fort Collins. These are the same four questions we ask every guest every week and we’re going to throw them at you right now. Currently, his followers on Instagram have crossed 917 thousand and have over 1.51 million subscribers on youtube. Robert Jones: So, whether I take the call or mom takes the call or a property manager takes the call, it has to be handled. Every single property we own except one is in Fort Collins. I just didn’t know there was this other avenue. I advise people to keep their existing home if they have the ability to. My little brother, Ben, 24 years old, is working on his fourth unit right now. I don’t know if it’s impressive or dirty but one of the two. But anyway, I just encourage people who are listening to the show right now, don’t get stuck in that, “I can’t take a trip because I’d have to maybe do a little bit of work.”. Dec 30, 2020. So, investment real estate is a big part of my business for building millionaires, building investors. That’s why we always talk about it. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals, who chat about failures, successes, motivations, and lessons learned. Let’s see. So, we bought other single family home, lived there literally 12 months and a day, started looking for another one. New Orleans Pelicans forward Brandon Ingram post-practice media availability from Pelicans practice on 1/10/2021. On today’s show, Brandon and David sit down with Robert Jones, a real estate agent and investor in Colorado, who has built a cash-flowing portfolio with millions of dollars in equity in an expensive market. Brandon Turner: Yeah. Brandon is currently 35 years old. Brandon Turner: I’m the marketer because then we can sell it for $20 and make $5 a t-shirt. So, the investor we ended up working with, his threshold was 80% combined leverage. Brandon Turner: So, I’m wondering, like David, I’m going to turn to you and ask you the same question. So, I started in 2008, which fortuitous timing. Robert Jones: Yeah. A l'occasion de son incroyable BAD 1 - 2 POOR 2 - 3 FAIR 3 - 4 GOOD 4 - 5. They’re like perfect digital minimalists. Our average single family price point’s about 425 right now. Robert Jones: No. Receive payments, communicate about maintenance issues, share documents, and more. Get exclusive, free bonus content and free shipping with every purchase, including bestselling books like The Book on Rental Property Investing. She said she’ll help with the loan.”. And David’s here on the camera, being awesome. You just click it. It is. You guys definitely have been. We needed to come up, then shift it to an investor loan so we needed $90,000 in three days because the seller had a higher offer. That was the days if literally you had a pulse, you could get a loan. But I love that. David Greene: Nothing even close to that. He is the author of The Book on Rental Property Investing and the co-author of The Book on Managing Rental Properties. So, even if you fit in the box, it said, “Pending underwriter discretion.”. Anyway. What’s up, buddy? Today’s quick tip. Il grandit à son rythme et cette nuit, Brandon Ingram a fait connaissance avec le phénomène défensif. Robert Jones: But like you said, the leverage and I never sell on appreciation. Flash CS6. I will let you and everyone in the Bigger Pockets Family know as soon as I purchase my first house. For people that know Fort Collins, it’s on Mountain Avenue. You’re like the perfect guest. Brandon Turner: All right. Brandon Turner: Again, I don’t think any of us is saying, “Buy a bad deal, loses money,” like that loses money every month. Now, they may be able to demand a little bit more and they want a little bit nicer stuff and that’s fine because then, the property stays nice. During this time, the mouths of the characters were not animated. Are you still finding deals today and what do you got to be careful of when you’re in that market? Robert Jones: Exactly. He got invited to some special mass client thing. Brandon Turner: Again, I don’t think any of us is saying, “Buy a bad deal, loses money,” like that loses money every month. “Oh, real estate sucks. I’ve got an entire escrow department, a marketing team and all these other functions. Then, show that you have funds down for the current purchase and the current acquisition. Robert Jones: Which I was stoked. I want to talk on this for a second because I think it’s one of the best ways, two things you did. Yeah. David Greene: That’s a really good question. So you became an agent first? That makes sense. It would be a formal note. Log in / Sign up Forums. David Greene: Oh, yeah. He’s coming in here in a few minutes, a buddy of mine named Robert. Some of it is just blood money, man, like you’ve bought yourself a job. Robert Jones: Yeah. Rate Brandon. I know it’s contradictory to BiggerPockets philosophy but-. This is the part of the show where we dive deep into one of your particular deals, so you got a deal in mind? David Greene: … good example. Robert Jones: Yeah. When they do happen, they’re a little more expensive to deal with. So, two months later, we moved into that one. Just kind of walk us through the next few years. David Greene: All right. In the service side. So, in 2012, like I said, five years into the business, we were at, I think, five or six properties at that point. She doesn’t qualify the ratios.” I’m like, “Okay.” I said, “How much is it?” “$186.” I was like, “Okay. Click to Subscribe ► http://bit.ly/GrumpSubscribeEpisode this came from ► https://youtu.be/JYf5z9VXcsgBrandon Turner on Youtube ► http://bit.ly/1uQc3gpWant updates on what's new and coming soon?Our email list! So, we come from pretty modest means, as a lot of your listeners and people you’ve interviewed. We can authorize these events. Well done. 95% of the answer is keep it as a rental. Brandon Turner: That’s cool. “I can’t fix your car but I can your heart.”, Robert Jones: So, yeah. Robert Jones: Yeah. "He's just been a steady rock. I think Brandon and I had a conversation about this when we were both trying to work our way through it that you could literally go buy a $10 million mansion in Beverly Hills and lose a couple thousand dollars a month because the rent wouldn’t cover your mortgage, but if you looked at your tax savings and your principal reduction and your increasing rent and the overall value of that mansion going from 10 million to 20 million over 10 years or 20 years or something, you would make insanely more money than if you bought a handful of [cashel 00:49:36]in places somewhere in the Midwest that just crept up. Brandon Turner is a real estate entrepreneur and the VP of Growth at BiggerPockets.com, one of the web’s largest real estate investing communities. I just started buying more expensive properties, just so we had a more expensive real estate appreciating. Now, we don’t see the ebbs and flows that some other markets see, so we don’t see the meteoric rises in a single year but for sustained performance, I mean, I feel like we’re living in the holy grail for real estate. What is propelling you? Back then, there was a lot I didn’t know. I also think I should point out that you sound a lot like I think Brian the Dog from Family Guy. Robert Jones: I like big, bushy beards and I cannot lie. David Greene: That’s even better. You can jokingly call me a slow learner but I asked the guy multiple times, “Wait. High rises in D.C. to multi-families in L.A. — institutional-quality stuff, another eye-opener for us doing... Had to punch me in the sea shed in Maui speaking of unforeseen challenges, we from... Not full-time in it, you just turn your cell phone, I started... Step is Fundrise.com/biggerpockets to have to be an awesome show his fourth right!, grateful for the damage? ” stuff like that me earlier, you just need to buy out the... 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