BiggerPockets Real Estate Podcast

Has the Federal Reserve gone too far? Many Americans are critical of the Fed’s move to raise interest rates sharply, pause for years, and then slowly start implementing rate cuts. The arguably most prominent critic of the Fed? President-Elect Donald Trump, who, shortly after nominating the current Fed chair, Jerome Powell, reversed his opinion on whether Powell was the right person for the job.
Now, with Trump coming back to the White House, Powell’s job hangs in jeopardy—or does it? Can a President fire the Fed chair? Does the President have the authority to influence how the Fed operates? What would happen if Trump decided to go after Powell and request his resignation? Nick Timiraos, reporter at The Wall Street Journal and Federal Reserve expert, is on to answer these questions.
Nick gives us the latest update on rate cuts, where the Fed is headed, how the future of the Fed looks with Trump back in office, and why some politicians champion “Fed Independence,” while others argue that Fed power has overstepped its bounds. Are Trump and Powell more aligned than they think, and is this government drama all talk? We’re getting Nick’s expert viewpoint on it all. 

In This Episode We Cover:
Why “Fed Independence” could actually be a crucial piece to keeping the economy stable 
Whether or not Trump has the authority to fire and replace a Fed chair 
Future rate cuts, inflation concerns, and the Fed’s latest “signal” on rates 
Powell’s simple response when asked if he would resign because of Trump’s request 
Why the Fed does NOT have to answer to the President (and is this a good thing?)
Trump’s proposed tax and tariff policies and why they could challenge the Fed
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Nick’s WSJ Articles
Grab Dave’s New Book, “Start with Strategy”
Find Investor-Friendly Lenders
Trump May Consider Shaking Up the Federal Reserve If Elected—Here’s What That Could Look Like
Connect with Dave

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1047
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Every landlord has some wild tenant stories. We’re sharing the ones you probably won’t believe in this episode. And we’re not just talking about a bad eviction or an upstairs neighbor blasting loud music. Instead, we’re talking about identity theft, living room toilets (this actually happened), random people sleeping on YOUR couch, and the mystery of the magically appearing staircase. 
Being a landlord isn’t always easy, but some stories make real estate investing truly worth it. We’ve seen some of our tenants turn their lives around completely, all by having a safe place to live. Even with all the chaos, broken toilets, non-paying tenants, and occasional hard conversations, being a landlord can be pretty rewarding. 
Do you have a tenant story you want to share? Drop it in the BiggerPockets Forums!

In This Episode We Cover:
Why you MUST have a (secured) separate entrance when house hacking 
The reason Henry now double-checks the identity of his tenants before signing a lease with them
Turning bad tenants into good friends by taking shots with them 
What to do when your tenants turn your living room into a bathroom (this one was pretty bad)
Why taking a chance on a tenant isn’t always a bad thing and how being a great landlord can turn people’s lives around 
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Landlord the Right Way with “The Book on Managing Rental Properties”
Property Manager Finder
12 Tenant Nightmare Stories I Swear Are Actually True
Connect with Henry
Connect with Dave

(00:00) Who's In My House?!
(05:20) My Tenant Isn't Really My Tenant...
(12:04) Taking Shots with My Tenant
(16:39) They Did WHAT in the Living Room?
(25:53) The Tenants Everyone Wants
(29:35) Tenant Turning His Life Around

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1046
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What if, within ten years, you could reach financial freedom? Imagine it. You may have a high-stress job where you’re working long hours and making good money but feeling burnout creeping in. You NEED an exit strategy if you’re going to keep up with this lifestyle because before long, you may need an early retirement. That’s precisely how Benjamin Aaker, emergency medicine physician, felt.
Benjamin loves his work, and he’s still working today, but now, he has the option to leave when the burnout gets too much. After becoming an “accidental landlord,” Benjamin quickly saw the benefits of investing in real estate. He bought a few more houses and a multifamily building, then went bigger and bigger. Now, he’s equity-rich with a real estate portfolio that can support his lifestyle if he decides not to work.
Even if you’re not stressed out at your job (yet), Benjamin encourages you to financially prepare to exit your career, if just for peace of mind. He talks about how you can scale smarter, faster, and better with partners, why sometimes you need to get dirty to succeed in real estate, and how to juggle investing with your full-time job. 

In This Episode We Cover:

How to scale your real estate portfolio fast and reach financial freedom 
The crucial mistake Benjamin made when he bought his first big property 
Determining your financial independence timeline and when you want to be able to quit 
Appreciation vs. cash flow and the surprising choice Benjamin made to reach financial independence faster 
Vetting a real estate partner BEFORE you invest and red flags to look for
Syndication investing for beginners and using other people’s money to buy real estate 
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Invest in Turnkey Properties with REI Nation
Grab “The Intention Journal”
Find an Investor-Friendly Agent in Your Area
How to Build a Real Estate Portfolio & Quickly Scale Your Investments
Connect with Benjamin
Connect with Dave

(00:00) Intro
(00:48) Got a High-Stress Job?
(02:30) The “Accidental” Landlord
(03:54) Becoming Work-OPTIONAL
(10:22) Equity Over Cash Flow
(14:31) Multifamily and BIG Syndication Mistakes
(23:55) A Really Crappy Problem
(27:30) Finding (and Vetting) Partners
(30:35) WAY Bigger Deals


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1045
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What makes a “good” real estate deal in 2025 and beyond? How much of a return should your investment property be producing? Are real estate returns good enough in this tough housing market to beat out other performing assets like stocks? Today, we’re sharing our exact investing criteria, defining what makes a “good” real estate deal to us, and how you can use key indicators to identify deals worth the effort.
We’re breaking this episode into a few parts as we touch on the primary types of investment properties: long-term rentals, short-term rentals, and house flips. Garrett Brown is our resident vacation rental expert and shares how he’s routinely getting twenty percent (or greater) returns by reinvesting in his short-term rentals. Next, familiar face James Dainard discusses the unbelievable house-flipping returns he nets, but are they worth the risk?
Finally, Dave shares the metric he goes after when investing in long-term, low-risk rental properties. Plus, we’ll share when it’s a better use of your money to reinvest in your current properties vs. going out and buying new ones!

In This Episode We Cover:
What makes a “good” real estate deal in 2025 and beyond
The massive return James is making with house flipping (and the HUGE risks he takes)
Garrett’s unique short-term rentals pulling in twenty percent (or higher!) average returns 
IRR (internal rate of return) explained and why everyone should calculate this when investing
When to buy more properties vs. reinvest back into your performing portfolio
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Get a Quote on Your Next Short-Term Rental Loan with Host Financial
Calculate IRR with Dave’s Book, “Real Estate by the Numbers”
Property Manager Finder
What's a "Good" Deal in Real Estate? 5 Criteria to Consider
Connect with Garrett
Connect with James
Connect with Dave

(00:00) Intro
(00:51) What's a "Good" Return?
(06:21) IRR (Internal Rate of Return) Explained
(07:59) What Makes a "Good" STR Deal?
(11:14) Flipping Houses (High Risk/Reward)
(16:43) Long-Term Rentals (Low Risk)
(23:17) When to Reinvest vs. Buy More
(29:23) Do This NOW!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1044
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Today, we’re talking about the easiest way to find profitable rental properties in 2024 (and 2025!). It’s not through cold calling homeowners, sending mailers, networking with wholesalers, or doing any other “off-market” strategy. It’s so easy that even real estate investing beginners will have no trouble finding deals. What are we talking about? On-market, MLS (multiple listing service) properties for sale.
You might think, “But everything on the market is overpriced; there are NO good deals left!” That’s where you’re wrong, and today’s guest proves it. Dan Nelson has been buying on-market investment properties for two decades now, and he’s built an entire portfolio doing so (even in recent years). Dan knows there’s a time and place for off-market deals, but he has found so many hidden opportunities on the market that he keeps returning to buy.
During this episode, Dan shows YOU precisely what to look for when browsing listing websites for rental properties or potential house flips. He shares the hidden opportunities most investors miss and why you should NOT be focused on properties that make money from day one. Instead, he walks through his simple strategy to create serious cash flow only a couple of years after purchasing properties most investors overlook.

In This Episode We Cover:
Why (for the most part) off-market deals are NOT great for beginners 
The reason Dan doesn’t care about “day one cash flow” when buying rentals 
Signs that you should offer a lower price on a potential rental property 
Why you should always look for on-market deals BEFORE deciding on a market 
When it’s time to start buying off-market deals (Beginners should avoid this) 
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
BiggerPockets Rental Property Calculator
BiggerPockets Real Estate Rent Estimator
Grab Dave’s Newest Book, “Start with Strategy”
Find an Investor-Friendly Agent in Your Area
Top 10 Real Estate Markets for Cash Flow in 2024
Connect with Dan
Connect with Dave

(00:00) Intro
(02:16) Why Buy On-Market Deals
(03:26) On-Market vs. Off-Market Explained
(06:57) HUGE On-Market Opportunity
(13:24) Buy at Asking Price?
(15:19) The Cash Flow Secret
(19:13) Where Does This Strategy Work?
(25:47) Where Does This Strategy Work?
(31:59) When to Look Off-Market?
(32:55) Buy Your FIRST Rental!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1043
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Clay White has done the seemingly impossible. He’s bought five rental properties, completed multiple flips, and done it all in the past fifteen months with high mortgage rates. To make it more impressive, he did it WITHOUT a W2 job at just twenty-three years old! So what sets Clay apart from ninety-nine percent of other investors? As you’ll hear in today’s episode, he went through an almost comical amount of failures, but how he solved them makes him an elite investor.
If you think you missed the boat on real estate investing, Clay proves that you couldn’t be more wrong. He not only built an entire rental portfolio in one of the most challenging times to invest but did it with no consistent income, no experience, and in a market you’ve probably never heard of.
If you can follow Clay’s advice, mimic his ingenuity and tenacity for problem-solving, and are willing to put up with small failures to achieve massive success, you, too, will be able to build serious wealth, no matter your timeline, no matter your age, and no matter your job.

In This Episode We Cover:
How to invest in real estate even if you’ve got little money (and no job!) 
Returning a house after you bought it (yes, you can do this!) 
Why bringing in a partner is an excellent idea for your first real estate investment 
Clay’s straightforward solution when you can’t find the right licensed contractor 
Cash-out refinances vs. HELOCs and when to use each to pull out equity 
Why you should always overestimate your home renovation costs 
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Learn How to Flip Houses with “The House Flipping Framework”
Find Investor-Friendly Lenders
The Rookie’s Step-by-Step Guide to Home Renovation Projects
Connect with Clay
Connect with Henry
Connect with Dave

(00:00) Intro
(01:04) Refusing To Get a 9-5
(04:23) Buying (and Returning!) a House
(07:58) Home Run Second Deal
(12:54) Rebuilding a Duplex
(16:52) Using Equity to Flip a House
(26:38) Final Flip Numbers
(27:49) A Flip Goes Wrong…Again
(31:04) Financing Deals
(33:13) Buying Even MORE


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1042
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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So you want to start investing in real estate but have ZERO experience. What should you do? The good news is that even if you don’t know how to invest in real estate, you can get started relatively quickly, especially if you avoid the common rookie mistakes. To help you jump over the investing hurdles, instead of running right into them, Dave brought on Tony Robinson, top short-term rental investor, and Henry Washington, repeat co-host and long-term rental investor, to share exactly what they’d do if they were starting from scratch in 2025.
Both Henry and Tony have scaled very fast. They own seven-figure real estate portfolios producing hundreds of thousands in rent yearly. But neither of them has been investing for more than ten years. How did they scale their real estate portfolios so quickly? They learned from their mistakes FAST and are teaching you the same lessons on today’s show.
In this episode, we’re going through the beginner steps you should take to build a real estate portfolio starting in 2025. We’ll discuss whether you should buy long-term or short-term rentals, how to choose a market to invest in, knowing how much you can afford, the many ways to find real estate deals, and the one thing Henry and Tony WISHED they had done earlier. Ready to start investing in 2025? This is your quick guide!

In This Episode We Cover:
Best beginner real estate investments and whether you should buy or build your first rental
What to do when you don’t have tons of money to invest and how to calculate your buying power
How to find real estate deals even if you’re low on time or money
The one thing Henry and Tony advise every rookie real estate investor to start doing NOW
Emergency reserves and why you must keep cash on you when you start investing
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Real Estate Rookie Podcast
On the Market Podcast 
Get a Quote on Your Next Short-Term Rental Loan with Host Financial
Start from Scratch with “The Book on Rental Property Investing”
Find an Investor-Friendly Agent in Your Area
Real Estate Investing For Beginners: How To Get Started
Connect with Henry
Connect with Tony
Connect with Dave

(00:00) Intro
(01:01) Best Starter Investments
(03:08) Short-Term Rentals
(08:42) 1. Choose a Market
(10:04) Long-Term Rentals
(14:42) 2. Know Your Buying Power
(18:39) 3. Finding Real Estate Deals
(24:21) 4. Document EVERYTHING
(28:39) 5. Start a “Reinvestment” Fund

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1041
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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Can you invest in real estate with just $75,000? And not only invest but can you find cash-flowing rentals in solid markets with long-term profit potential without spending six figures? Yes, to both. Today, we’re proving it’s more than possible because we’re finding on-market rental properties for sale that can be bought, renovated, and rented with a $75,000 (or less) investment. These are LIVE deals, meaning you could make an offer on them right after this podcast airs (seriously!).
To help us out, Dave asked fellow investors Ashley Kehr and Henry Washington to bring a deal to the show that:
1. Has an all-in cost of $75,000 or less
2. Is on-market (on the MLS)
3. Isn’t a house hack (you don’t have to live in the property).
Dave found his own deal and brought it along, too. So today, we’re sharing three actual deals in three solid real estate markets, all that you can invest in with $75,000 or less.
We found rental properties that not only cash flow hundreds of dollars a month but come close to (or beat) the 1% rule, AND one is already renovated, meaning you just need to find renters, and you’re already making money. Don’t let the naysayers fool you—this is PROOF you can find good rental properties even in 2024. 

In This Episode We Cover:
How to invest $75,000 in real estate if you want cash-flowing rental properties 
Three distinct real estate markets that all offer below-average rental property prices 
How much to keep in cash reserves for your first investment property 
“Value-add” potential you can spot that’ll help you boost equity in your property 
The one cost that you really need to check before you buy in a new market 
Key indicators that point to a real estate market growing (or slowing) 
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Invest in Turnkey Properties with REI Nation
Grab Henry’s New Book, “Real Estate Deal Maker”
Find an Investor-Friendly Agent in Your Area
Top 10 Real Estate Markets for Cash Flow in 2024
Connect with Ashley
Connect with Henry
Connect with Dave


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1040
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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Is property “rezoning” the trick to making much more money in real estate? Our guest is using zoning laws to his favor by finding areas with hidden potential but NO space left to build. He then changes the zoning, builds new homes, and sells them FAST (and often over-asking price) to the local buyers waiting in line for inventory to arrive. You can do it, too, but you’ll need some beginner information before you start.
Since 2016, Stuart Udis has been building homes in areas most investors overlook. The average investor sees an area with growing demand but realizes that they can’t build a home because a piece of land may NOT allow residential units, so they give up. Stuart instead gets both the city AND the local residents on his side, having all parties favor a zoning change, helping him be the only investor to build on that once-overlooked piece of land.
So how do YOU do this, too? In this episode, Stuart walks through how he finds hidden opportunities in often-overlooked neighborhoods, the groups you’ll have to meet with before you try to change the zoning, and the types of units he’s building that give him the highest return on his money.

In This Episode We Cover:
Why “rezoning” property might be one of the most overlooked investing strategies 
The big cash flow mistake that Stuart made earlier on in his investing career 
The #1 reason you must look into school districts BEFORE buying in an area 
Getting approval for rezoning from the city and the neighbors you MUST get on your side 
How to tell exactly what a buyer/renter will want BEFORE you rezone/build 
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Grab Henry’s New Book, “Real Estate Deal Maker”
Grab Dave’s Newest Book, “Start with Strategy”
Find an Investor-Friendly Agent in Your Area
Can You Build Wealth by Rezoning Your Property? Yes! Here’s How
Connect with Stuart
Connect with Henry
Connect with Dave

(00:00) Intro
(01:20) Buying $50K Houses!
(05:06) BIG Cash Flow Mistake
(09:05) Finding a Hidden Opportunity
(13:45) Changing “Zoning” to Meet Demand
(20:36) Getting Zoning Approval
(24:57) What Buyers/Renters Want
(26:37) Buying, Building, and Renovating Rentals


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1039
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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Real estate investing is great…sometimes. Other times, it’s NOT fun to be a real estate investor. While the pros, like financial freedom, generational wealth, and passive income definitely outweigh the cons, there are times when real estate investing makes you sit back and think, “Wow, I’m not having fun right now.” So we’re here to vent some of our biggest frustrations about the real estate industry, and if you’re an investor, landlord, house flipper, or property manager, you’ll probably relate. 
These are the things that grind our gears the MOST. Now we’re not saying to ditch rental properties and real estate investing because of these downsides. Despite all these investment property pains, we still believe real estate is the best asset class for investing. But you will be hit with the headaches that we go through if you decide to invest.
The good news? We will give you actionable tips to avoid the worst of these throughout the episode. If you’re brand new to real estate investing or are thinking of buying your first property, this is advice you need to hear before you begin so you can make the most money with the least amount of stress. 

In This Episode We Cover:
Why you really (really) don’t need to become an agent just to invest in real estate 
Getting blinded by “exit strategies” and how it’ll cost you in the long run
How Henry learned to work with contractors so he doesn’t get scammed or ghosted
Why we’re begging you to stop doing “virtual staging” when selling a house 
Etiquette for agents writing property descriptions (stop saying everything is “cozy”)
How to improve your relationship with your tenants so you both can enjoy your lives 
And So Much More!

Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Grab Henry’s New Book, “Real Estate Deal Maker”
Property Manager Finder
How to Work With Contractors and Manage a Job Site as a Flipping Newbie
Connect with Henry
Connect with Dave

(00:00) Intro
(00:41) 1. Becoming an Agent Just to Invest
(04:58) 2. Bad/Slow Communication
(07:30) 3. Being Blinded by Exit Strategies
(12:30) 4. Unrealistic Expectations
(17:03) 5. Working with Contractors
(23:22) 6. Agent Property Descriptions
(25:07) 7. Virtual Staging
(30:47) 8. SO. MUCH. PAPERWORK.
(33:19) 9. Shady Wholesalers
(37:36) 10. Tenants vs. Landlords

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1038
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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