MB 221: Achieve BIG Things with Tiny Action – With Brandon Turner

Doing something monumental like moving your family across the ocean to Hawaii or buying a 100-unit apartment complex may feel overwhelming. But Brandon Turner has done both of those things, and he contends that any process is easy IF you break it down into a series of tiny actions that take five minutes or less.

Brandon is the Founder of Open Door Capital, Vice President of BiggerPockets and Cohost of The BiggerPockets Podcast. He owns more than 500 rental units totaling $20M and has dozens of rehabs under his belt. Brandon’s work has been featured in Forbes, Entrepreneur and Money Magazine, and he is the author of several books, including The Book on Rental Property Investing and How to Invest in Real Estate.

On this episode of the podcast, Brandon joins me to share his assessment of the impact of COVID-19 on real estate investing, explaining how we should adjust our underwriting in light of the pandemic. He walks us through his favorite investing strategies right now, describing the opportunities he sees in real estate over the next 10 years. Listen in to understand the marketing techniques Brandon uses to raise LOTS of money online and get his advice on developing a clear VISION of where you want to be—and taking tiny action each day to get there!

Key Takeaways

Brandon’s assessment of the impact of COVID

• Depends on whether second round of virus triggers another shutdown
• 85% confident pandemic will be interesting memory in 6 months

How real estate investors should adjust their behavior right now

• Less optimistic in underwriting (don’t count on raising rents in Year 1)
• Good time to revisit fundamentals, be more conservative

The opportunities Brandon sees over the long term

• Migration to South as more and more people reach retirement age
• Invest in mobile home parks, senior living and low-income multifamily

How this economic crisis differs from the last recession

• Last downturn CAUSED by shady practices in real estate
• Less impact on real estate this time (except vacation rentals)

Brandon’s favorite real estate strategies right now

• House hacking good for new investors
• Rehab or value-add (BRRRR method)
• Mobile home parks

Brandon’s insight around COVID’s impact on low-income earners

• Still paying rent at mobile home parks
• Government won’t allow economy to fail

BiggerPockets’ most successful marketing strategies

• Build trust and credibility with content (blog, podcast)
• Make money as software company, not education

How Brandon uses content marketing in his investing business

• Build trust and credibility at scale with content
• Leverage video to raise money, send thank you letters
• Focus on growing Instagram audience (125K followers)

How Brandon architects his life around his family and business

• Develop clear vision of success, know where want to be
• Keep asking, ‘What’s the next little tiny step?’

Connect with Brandon Turner

Open Door Capital

Brandon on BiggerPockets

Brandon on Instagram

Resources

Join Michael’s Investor Incubator Mentoring Program

Register for Michael’s Free Masterclass: How to Do Your First Apartment Deal

Register for Deal Maker Live

Join the Nighthawk Equity Investor Club

Syndicated Deal Analyzer

Joe Fairless

Loom Video Messaging

The Book on Rental Property Investing by Brandon Turner

Bryce Stewart on BiggerPockets Podcast EP276

Vivid Vision by Cameron Herold

Podcast Show Notes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group