On this episode of the BiggerPockets Podcast, we're talking about myths. No, not about Sasquatch, elves, or the abominable snowman. We're talking about real estate myths that might be holding YOU back from greatness! We're excited to bring back Chris Clothier, a seasoned investor and business owner who shares stories from his own experiences to help you achieve new levels of success. Don't miss one second of this incredibly powerful and actionable podcast!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
In This Episode We Cover:
Who is Chris Clothier?
What got him into real estate?
Getting to the top 50 Home Buyers
Five Real Estate Investment Myths
Myth 1: Don't work with family
Myth 2: Past performance is a reliable predictor for future investments
Myth 3: Investing in real estate is a big time sink
Myth 4: You should only invest locally
Myth 5: You should avoid risk at all cost
Five specific scenarios that are risky and how Chris would handle them
Learn an amazing tip when closing a deal!
How not to get ripped off by a property management company
And SO much more!
Links from the Show
BP Podcast 026: Building a Scalable Real Estate Business and Tenant Management Tips with Chris Clothier
RealtyTrac
BP Podcast 005: Dealing with Death – A Financial Discussion with CFP Neal Frankle
20 Questions To Ask Before Hiring Rental Property Management
How To Train A Property Management Company
BiggerPockets Webinar
BiggerPockets Forums
BiggerPockets Marketplace
Books Mentioned in this Show
Make It BIG!: 49 Secrets for Building a Life of Extreme Success by Frank E. McKinney
Scaling Up: How a Few Companies Make It...and Why the Rest Don't (Rockefeller Habits 2.0) by Verne Harnish
Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek
Tweetable Topics:
“You don't have a job for everyone.” (Tweet This!)
"In any partnership there should be clear lines, clear boundaries, and clear respect." (Tweet This!)
“A lot of investors look to go out of area first because they don’t understand real estate.” (Tweet This!)
“There maybe more risk with a lower cost investment, than higher cost investment.” (Tweet This!)
“Our fear of losing money is greater than our desire to earn.” (Tweet This!)
"Risk is all about assessing the good and the bad of making the decision or not making the decision." (Tweet This!)
"For investors, risk is not a bad thing." (Tweet This!)
"There is no perfect time." (Tweet This!)
Connect with Chris
Chris' Company Website
Chris' BiggerPockets Profile