BiggerPockets Daily

It all started when a nice gentleman called my office and asked me if the long-term rental advertised on Craigslist was legitimate or not. I explained to the gentleman I had no idea what he was talking about and that my company did not advertise anything on Craigslist. He went on to tell me what the ad said and even showed me where I could view it for myself. When I went on Craigslist, I was shock...

I am a member of the National Association of Realtors. My local association offers classes to help keep us up to date on all the latest real estate happenings. When a class about real estate scams was listed, I jumped at the chance to sign up. This particular class was sponsored and taught by Heritage Title Company, so the stories are coming from the title company point of view. They also illustra...

After a dozen years in the real estate investing business, one thing I have learned is that mistakes will be made. I made some pretty good ones when I first started out, and I am still making and learning from them today. Mistakes are a part of life and are something we all have to learn to deal with. Looking back over the years, I see that many of these mistakes were actually good things, as they...

Behind housing and transportation, food is an American’s third largest expense at 12 percent of overall spending. In other words, a person who makes about $50,000 per year will spend approximately $6,000 on food. This number will vary based on the amount of people you are supporting. But for the average, single American, let’s assume $6,000 per year, or $500 per month. This article is going to sho...

There are literally thousands of real estate books on the market today, and trying to separate the best from those that can easily be passed on can be tough. To help, BiggerPockets has compiled a list of our top books in the real estate genre, based on popularity from our members throughout the BiggerPockets Forums, Blog, the BiggerPockets Facebook page, and more. Many of these books have changed...

As we approach the new year, I’ve come to realize that in my own life, there have been several things throughout my past that have been extremely toxic to my health and well-being—and to the health of my business. It’s in my heart to share some of these because I know a lot of the readers here on BiggerPockets are new, and I want you to be able to spot these things a mile away! It’s my desire to h...

With a diverse community as big as BiggerPockets, it’s easy to get lost or overwhelmed by the amount of Forum posts, blogs, people and information being shot at you as if out of a howitzer cannon. It can be daunting! I want show that it’s easy to attack BP with a strategy to get the most out of the time you spend here and make a TON of money in the process. Why just aimlessly surf if you can imple...

Cultivating a network of professional contacts is arguably one of the best things you can do for your business — and for yourself. Working in real estate, my sphere of influence is what drives my business. Whether you are a wholesaler, flipper, or buy and hold landlord, the better you are at networking, the more your business will thrive.  Here are some tips I’ve put into practice to build my netw...

Everyone has their own unique experiences in real estate investing and building a portfolio of properties. Some of us develop a thriving local (or not so local) real estate empire, while other investors fail to complete their first real estate investment. Many times we sabotage our own businesses. Ultimately, you are in charge of your successes and your failures. As I write this, I understand that...

What makes someone successful? Skill?  Talent?  Right place, right time?  What if I told you that I believe “luck” is one of the most important traits.  Crazy, right?  Hear me out. It seems that many of the most successful people of all time attribute their success at least partially to “luck,” to being “blessed,” or to having great fortune in one or many key parts of their lives or businesses. An...

If you’ve spent any length of time trying to “succeed” in life, then you’ve probably turned to self-help books at some point. Most real estate investors have sought out lists of recommended self-development books. Many titles appear on list after list. Once you notice those titles, you might be tempted to read a good chunk of these suggested books and to take the advice of these authors. You’ll fi...

When I start reading a book, I don’t try to internalize it line by line. It’s too overwhelming to attempt to retain every bit of wisdom packed inside the pages. Instead I simply try to take note of one big concept from each book and make a point of implementing it in my life. I’ve found this approach of focusing on LESS actually allows me to retain MORE—and therefore effect a greater amount of rea...

I can already feel the hate mail coming my way. The “you have to live” talks. The “you’re missing out on the best times of your life” talks. That’s OK, though. I like those talks. In fact, I love those talks. Each time someone tells me, “You have to live,” it reassures me that I am living like no one else now, such that I can live and give like no one else later. A couple of years ago, my buddy Sc...

One last time I will delve into the amoral and borderline sociopathic book 48 Laws of Power by Robert Greene with a lesson that every half-decent politician knows: “Work on the hearts and minds of others.” As Greene notes: “Coercion creates a reaction that will eventually work against you. You must seduce others into wanting to move in your direction. A person you have seduced becomes your loyal p...

Over my 16 years of investing in mobile homes, I’ve heard a similar nasty story to the one below from two other active mobile home investors. If we don’t learn from our own mistakes—and more importantly, the mistakes of others—we are doomed to repeat them. Disclaimer: This story gets a little gross. Maybe don’t eat while reading this. The Story It was November 2002. I was investing in my fifth mob...

I have a proposition for you. You give me $20,000 and I’ll give you… nothing. In fact, you’ll give me another $50 to $200 per month until you go crazy or broke. Sound like a good trade? No? Unfortunately, many rental property investors make this same trade with every purchase—because they didn’t properly calculate rental property expenses. The end result? Negative cash flow. Losing money. And unfo...

Would you believe me if I said you didn’t need a massive buyers list to successfully wholesale properties? So many times, real estate gurus emphasize the importance of growing your buyers list to contain thousands of names.  Now, I know sending properties to thousands of people sounds much more appealing than sending a property to a small handful of individuals. I mean, the chances of selling your...

Are you curious about investing but not sure if it’s right for you? I used real estate investing to pursue financial independence, but I had some doubts along the way. Personally, I have only done flips and buy and holds, but here’s what helped me figure out if real estate was the way to go: 1. I Laid Out My Intended Role A fantastic first question to ask yourself is: How much or how little do I w...

A popular topic I hear a lot about is LLCs. It’s talked about all over BiggerPockets and my YouTube channel. People pose questions like, “Should I set up an LLC? What Should I name my LLC? In what state should I set up my LLC?” …Just to list a few. People think of the LLC as overly complex. But in reality, it’s not. I’m going to boil it down for you in a step-by-step process —as well as a crash co...

“The more we value things outside our control, the less control we have.” – Marcus Aurelius, Meditations If there’s been one theme to my writing as of late, it’s been economic volatility, be it real estate prices skyrocketing, coming back down, rents skyrocketing then falling like a rock, rampant inflation, banks failing, the office real estate market falling apart, or the specter of another 2008-...

So far, throughout 2023, we have published several articles on DSCR loans, a loan product that continues to grow in popularity among real estate investors. These included an overview of how to get the best rate and terms, how to use advanced strategies to maximize returns, and an overview of the new small multifamily DSCR loan niche, which expands the loan product to properties with up to 10 units...

Housing activity often picks up in the spring, but this year, housing affordability concerns and recession fears are impacting seasonal trends. While mortgage rates dipped enough for housing transactions and building activity to surge in February, these metrics looked sluggish for March. Many homeowners and renters are staying put, waiting out a potential recession, while those looking to move are...

If you thought of the cast of “Friends” (but poorer), you weren’t wrong. Historically, renters have been young and single, with low to mid incomes and typically less education than their homeowning counterparts. But, over the past decade, while the rest of the world was busy hyper-focusing on millennials, something happened. The demographics among renters shifted, and not how you’d expect either....

While the process of finding a new tenant can be relatively straightforward, the tricky part is familiarizing yourself with landlord-tenant laws. And, even if you are familiar with them, rental laws are constantly changing. That’s why regularly keeping tabs on local regulations can help you better manage your rental properties. While the best way to familiarize yourself with rental laws is to cons...

Real estate is considered one of, if not, the best investment you can make. Housing has been very consistent throughout history, more so than any other type of investment, and outpaces inflation and the stock market.  However, many people don’t invest in real estate because they assume it’s complex and requires a massive down payment to get started. It turns out that this is entirely false! Real e...