From Financial Disaster to Real Estate Master with Brandon Turner | BP Money Podcast

www.biggerpockets.com/moneysh...
You probably know Brandon Turner from the BiggerPockets Real Estate Investing podcast. On that show, he sounds like he’s got his life all together. But before he discovered the RIGHT way to do real estate, he made mistakes-LOTS of mistakes.
Today, Brandon shares everything he did wrong-from financing rehabs with a credit card to accumulating six figures in debt on properties he couldn’t sell.
But the most important thing Brandon did was learn from his mistakes. He read Total Money Makeover by Dave Ramsey and put the lessons learned from that book into action, paid off his debt, and started living the life he truly wanted.
This episode is for people who have made mistakes and who are in debt or struggling to find a path to financial freedom. Brandon shows you that it’s OK to make mistakes, you CAN recover, and the life you want is within your reach.
Check the full show notes here: www.biggerpockets.com/blog/bi...

Пікірлер: 46

  • @PassiveIncomeTom
    @PassiveIncomeTom4 жыл бұрын

    *This is great to hear Brandon's story.* 👍

  • @shelleygreyrealtor
    @shelleygreyrealtor2 жыл бұрын

    "Fortune favors the bold, Mindy." 😂😂😂

  • @pijomaster4862
    @pijomaster48624 жыл бұрын

    I love Brandon. I smiled the whole time

  • @gerardosaldana9207
    @gerardosaldana92073 жыл бұрын

    “Brandon Only Smash! But Brandon Smash Best!!”. I had no idea what Brandon’s beginnings were like. This is the story of a man who kept playing only to his strengths and kept doubling down on them for the last 15 years. He turned himself into a real estate Hulk! 😎

  • @hityourpotential
    @hityourpotential4 жыл бұрын

    the hustle is real at 16:00 minute mark. I had to do the same but you do what you have to do. now I have my mba, a good job, and 3 rental properties.

  • @Christian-Espinoza
    @Christian-Espinoza4 жыл бұрын

    Brandon worked at a cold stone, I worked at marble slab, im destined for success 😂 petroleum engineer now but thats awesome!

  • @joelhinojosa6838
    @joelhinojosa68384 жыл бұрын

    Where is money podcast #99. I need my money podcast fix. This was a great episode, Brandon was successful because he never quit, I love it. Thanks guys.

  • @LanceCastillo
    @LanceCastillo4 жыл бұрын

    This was such a great story. I'm starting out myself with my first investment property! I have a small funnel and I'm looking to buy my first deal within the next month if not sooner. It is good to know that Brandon made it through the last recession even though he was buying property after property that was going down in value at the time. You never know when the next recession is going to hit but I am glad to know that I might just turn out ok if I make good investment purchases now and going forward.

  • @sameersmerchant
    @sameersmerchant4 жыл бұрын

    Same boat Brandon, very relatable

  • @ms8172
    @ms81724 жыл бұрын

    Everything you give to others is what you get to take with you when you pass.

  • @lenchick8114
    @lenchick81144 жыл бұрын

    Love it 😍

  • @OMPrograms
    @OMPrograms4 жыл бұрын

    wait? u also worked an overnight asleep position at a development disability home? I do that! I have been doing this for 6 years. That's crazy!

  • @kilduce4423
    @kilduce44234 жыл бұрын

    I needed this podcast. I used to donate plasma too

  • @davidr4523
    @davidr45232 жыл бұрын

    Several thoughts on Brandon Turner 1. He was the perfect 1st hire at BiggerPockets. His 500 podcast, his extremely likable personality and his own activity in real estate has made him the greatest representative of BiggerPockets ever. 2. When you see a Zuckerberg, Gates and Musk you know with their level of brilliance, that you could never achieve even a fraction of their success. However with a Brandon Turner, who seems like person of ordinary intelligence, gives you the confidence that you can achieve success to. 3. Brandon has perfectly leveraged his role at BiggerPockets. People want to work for him, people want to help him and people want to invest in his deals. 4. His books, seminars and Podcast's his credibility is possibly set for life.

  • @saube013
    @saube0134 жыл бұрын

    Love the orange book!

  • @danfryscollectibles281
    @danfryscollectibles2814 жыл бұрын

    Thank you man for sharing the story I really feel like I'm in the same boat credit card / student loans at 40 years old my wife and I making $100,000 a year and living for free and can barely get by I'm glad to hear that there is a light at the end of the tunnel next year 2020 is going to be really big year going to be a big Turning Point and BiggerPockets it's going to be the biggest guide turn it around

  • @35057
    @350574 жыл бұрын

    Huge congrats guys/gals!! I’ll have to listen to this a second time because it was that good. And Brandon is just so easy to listen to. 😅

  • @theshinythings123
    @theshinythings1234 жыл бұрын

    With index funds I don't like the opportunity cost of never being able to withdraw the money until you reach your FI number because you need the cash to keep compounding on itself.

  • @meg8358
    @meg83584 жыл бұрын

    LOVE BRANDON TURNER! I worked at a plasma place for a few months, until a client tried ro follow me home one day...😳

  • @Trenttabor
    @Trenttabor4 жыл бұрын

    230 of the lowest possible quality rental units that are bought with other people's money right (WAY TO GO BUD)

  • @boydnicol
    @boydnicol2 жыл бұрын

    Literally. Donating plasma watching this 😶😶🙄

  • @tomace664
    @tomace6644 жыл бұрын

    I donated plasma too. What he didn’t tell you is that they cool the blood they give back. You get so cold and it’s an inside cold. No blanket or jacket can warm you ip

  • @retireby3169
    @retireby31694 жыл бұрын

    A 60W bulb will cost .6 kWH in 10 hours x 365 = 219 kWH per year * $0.24 per kWH = $47 annually!! Also a room might have 4 or 5 bulbs. Shut those lights off!!!!

  • @KittKattBarr222
    @KittKattBarr2224 жыл бұрын

    Oh man, my husband and I donated plasma! He still has the marks and people think he was a druggy too. Lol

  • @Len_God
    @Len_God4 жыл бұрын

    Love all the BP content but this guy can never stay on topic, still hasn’t told us the #sfor the 24 unit lol

  • @storyofscripture

    @storyofscripture

    4 жыл бұрын

    You can watch that on the biggerpockets podcast I think episode 92 or 95

  • @vasquezdaniel15
    @vasquezdaniel154 жыл бұрын

    Was there a little tension between Mindy and Brandon or is it just me?

  • @alphawavesready6639

    @alphawavesready6639

    3 жыл бұрын

    I think they just messing around

  • @menardtexsampson3745
    @menardtexsampson37454 жыл бұрын

    👍🏾💥🧠

  • @jasonmillar7713
    @jasonmillar77134 жыл бұрын

    I'm probably going to get flamed for this comment, but I didn't really love this episode with BT. I have listened to the BP real estate podcast for years and have enjoyed it but I didn't really love Brandon in this episode. The whole time I kept thinking more and more about how Brandon, though a savvy and successful entrepreneur, was extremely lucky in his timing and makes me wonder if he's financially ready for when the next recession occurs. He talks about how the value of the income stream is what he values, not the total return of the investment. He essentially has the opinion that regular old retirement accounts aren't worth his time and that his real estate is his retirement. Okay, that works until it doesn't and being overly exposed to one asset class, likely in just a few geographic regions, is poor downside planning. I've liked Brandon and the content he puts out otherwise, but this episode comes across as pompous and discounts what are good financial principals for the vast majority of people. I worry that people will listen to this podcast and be like "why am i contributing to my 401k!? i should just shovel it into real estate! That's what the Rich Dad Poor Dad peeps do!" or "I should use my credit cards to fund my flipping business!", and then get burned down the road because they won't have the same extremely strong tail winds that RE investors broadly experienced over the last 10 years. Many of the comments in this episode make me greatly question the broader advice of Brandon Turner with regards to anything other than real estate. Even then, I'm, beginning to think he's just an entrepreneur who has had the wind at his back, but is, beneath the surface, extremely poor at managing money, and makes you question his role on this particular podcast series. Brandon is likely going to be financially sound in the future given all the different income streams he likely has, but I caution listeners to take many things he says in this episode with a grain of salt and to think about your own personal financial picture going forward.

  • @dacr0708

    @dacr0708

    2 жыл бұрын

    I felt this exact way Brandon really doesn’t hedge his risk he thinks everything is rainbows and sunshine and nothing wrong will happen. This man just got lucky and could’ve easily gone the other way and gone bankrupt. Thinking the 4% rule is too conservative and having a measly 3k in cash flow was enough to retire is just so silly

  • @tawnys340
    @tawnys3404 жыл бұрын

    Wow, Mindy is kind of mean! She acts like Brandon is/ was "wrong" for his way of doing things. Don't you just love people who think it's their way or the wrong way? WHY does he need a 401K if his other investments are solid and cash flowing?? Oye…

  • @danfryscollectibles281
    @danfryscollectibles2814 жыл бұрын

    index funds 401K Ira all garbage if you took that same $10,000 bought xrp right now at $0.20 wait until $20 probably it'll happen in the next 3 years will be a millionaire again

  • @matthops

    @matthops

    4 жыл бұрын

    daniel fry no chance XRP is $20 in 3 years lol

  • @marcusw8414

    @marcusw8414

    4 жыл бұрын

    Try it out let us know how it goes

  • @matthops

    @matthops

    4 жыл бұрын

    Marcus W I own some already. It won’t hit $20 😂 Trust me I’d be just as hype, just unrealistic

  • @TheSyriosBrothers
    @TheSyriosBrothers3 жыл бұрын

    This video's title is substantially too cheesy for me

  • @PlateInStock
    @PlateInStock4 жыл бұрын

    Hey Brandon I’ve sent you messages on Instagram but never got a response!!

  • @danfryscollectibles281
    @danfryscollectibles2814 жыл бұрын

    $25,000 worth of Bitcoin now wait till April 2020 then start buying in cash

  • @JJ-bv2gp
    @JJ-bv2gp4 жыл бұрын

    Does anyone else find the older host's attitude quite annoying?

  • @VideoGrabBag
    @VideoGrabBag4 жыл бұрын

    Only Brandon can make > 90 minute video on his story. Good story, good guy. But his more than average gregarious nature is a disservice to BP. Good story, Good guy though.

  • @8dodger7
    @8dodger74 жыл бұрын

    The female commentary has a very negative and sarcastic vibe , i do not like it. 401 K is non sense ... especially for some1 like Brandon who is a successful real estate investor.