Having a full-time job can make investing in real estate tough. However, with the right systems, people, and plan, your business can thrive no matter how few hours you have to dedicate towards it! In this episode of the BiggerPockets Podcast, we sit down with Bill Allen, a navy pilot who’s done just that in a very short time. We talk about hiring your first employee, finding good deals, using low down payment loans to fund your deals, and a lot more. If you are looking to make your real estate business launch into the stratosphere, don’t miss a moment of this show!
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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!
Fire Round Sponsor
A huge thanks as well to our Fire Round sponsor MileIQ.
MileIQ is an automatic mileage tracker that tracks the miles you drive for business. By using smart drive-detection technology, MileIQ automatically logs your drives and calculates their value - automatically creating a mileage log that's compliant with IRS guidelines.
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In This Episode We Cover:
What Bill does aside from being active duty in the U.S. Navy
How he got into the real estate world
The importance of being able to walk away from a house
What you should know about the housing assistance program
His $185k loss in an investment
The difference between buying rentals and buying primary residences
His first investment property
What exactly a VA loan is
How he uses VA loans creatively to finance his investing
How to treat real estate as a business
Mistakes on his first flip and what he could have done better
How Bill got private money despite not having deals under his belt
Tips for flipping while having a full time job
How to structure your business to maximize the potential in your market
Considerations while hiring your first employee
The importance of setting task lists
How to incentivize those you hire
How many deals has Bill done
Thoughts on diversifying your business
Tips for creating a good website
How to funnel your leads
And SO much more!
Links from the Show
The BiggerPockets Team
House Hacking 101
Wordpress
ThemeForest
BP Podcast 144: Getting Out of Your Comfort Zone and Kicking Butt at Real Estate with Danny Johnson
BP Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay Papasan
BP Podcast 077: Negotiating Your Way to 1000 Wholetail Real Estate Deals with Michael Quarles
Books Mentioned in this Show
The Book on Investing with Low or No Money Down by Brandon Turner
The Book on Flipping Houses by J. Scott
The 4-Hour Workweek by Timothy Ferriss