255: Six-Figure Real Estate Investing in Just 20 Hours a Week with Elliot Smith

How many hours per week does it take to be a successful real estate investor? The answer on today’s episode might surprise you. Today we’re sitting down with Elliot Smith, a real estate investor from Washington State who has an incredible story to tell about how he went from 70+ hour per week worker to “full-time” real estate investor who only works part-time. Elliot has an incredible outlook on life and business that’s contagious, so warning—you won’t leave this interview the same person. You’ll also learn how Elliot and his wife made over $100,000 their first year in real estate and the amazing tale of how they made over $100,000 in a single month. This show is as inspirational as it is educational (and filled with more than a few laughs!) so get ready to have your world rocked.
In This Episode We Cover:

How Elliot got started real estate investing

Whether you should do house inspections

Their next deals and a great wholesale deal

How to wholesale with a full-time job

The importance of being honest with your sellers

What exactly wholesaling entails

How he made $100k in just one month!

How to invest part-time and earn full-time

Tips for building relationships with private lenders

Advice on flipping with no money down

Tips on finding a mentor

How to do 30 deals a year

How Elliot finds deals

His way of making the world better

And SO much more!

Links from the Show

BiggerPockets Forums

Brandon’s Instagram Profile

Mindy’s Twitter Profile

BiggerPockets Blog

500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber

I’m Not Your Guru Netflix

BiggerPockets Bookstore

Wholesaling Resources

Podio

Dropbox

Open Letter Marketing

Gary Vee

Books Mentioned in this Show

The Book on Rental Property Investing by Brandon Turner

Finding and Funding Great Deals by Tarl Yarber

Investing with Low or No Money Down by Brandon Turner

The Millionaire Real Estate Investor by Gary Keller

Pitch Anything by Oren Klaff

Fire Round Questions

How do you secure your rehabs?

How do you determine what to do for repairs/improvements?

I live in a booming ski town and am looking to flip condos, advice?

With all the contracts, documents, invoices, and other paperwork, what is your filing system to stay organized from start to finish?

Tweetable Topics:

“If you’re asking if you need an inspector, then you need one.” (Tweet This!)

“It all has to do with the intent. Is your intent to screw this person or is your intent to do the right thing?” (Tweet This!)

“You’ll find really good people in this business who just love people and love helping.” (Tweet This!)

“Money is not the most important thing. Friendship and relationships are the most important thing in this business.” (Tweet This!)

Connect with Elliot

Elliot’s BiggerPockets Profile

Elliot’s Facebook Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices

How many hours per week does it take to be a successful real estate investor? The answer on today’s episode might surprise you. Today we’re sitting down with Elliot Smith, a real estate investor from Washington State who has an incredible story to tell about how he went from 70+ hour per week worker to “full-time” real estate investor who only works part-time. Elliot has an incredible outlook on life and business that’s contagious, so warning—you won’t leave this interview the same person. You’ll also learn how Elliot and his wife made over $100,000 their first year in real estate and the amazing tale of how they made over $100,000 in a single month. This show is as inspirational as it is educational (and filled with more than a few laughs!) so get ready to have your world rocked.

In This Episode We Cover:

How Elliot got started real estate investing
Whether you should do house inspections

Their next deals and a great wholesale deal
How to wholesale with a full-time job

The importance of being honest with your sellers
What exactly wholesaling entails
How he made $100k in just one month!
How to invest part-time and earn full-time
Tips for building relationships with private lenders

Advice on flipping with no money down

Tips on finding a mentor

How to do 30 deals a year

How Elliot finds deals

His way of making the world better

And SO much more!

Links from the Show

BiggerPockets Forums
Brandon’s Instagram Profile
Mindy’s Twitter Profile
BiggerPockets Blog
500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber
I’m Not Your Guru Netflix
BiggerPockets Bookstore
Wholesaling Resources
Podio
Dropbox
Open Letter Marketing
Gary Vee

Books Mentioned in this Show

The Book on Rental Property Investing by Brandon Turner

Finding and Funding Great Deals by Tarl Yarber

Investing with Low or No Money Down by Brandon Turner

The Millionaire Real Estate Investor by Gary Keller

Pitch Anything by Oren Klaff

Fire Round Questions

How do you secure your rehabs?
How do you determine what to do for repairs/improvements?
I live in a booming ski town and am looking to flip condos, advice?
With all the contracts, documents, invoices, and other paperwork, what is your filing system to stay organized from start to finish?

Tweetable Topics:

“If you’re asking if you need an inspector, then you need one.” (Tweet This!)
“It all has to do with the intent. Is your intent to screw this person or is your intent to do the right thing?” (Tweet This!)
“You’ll find really good people in this business who just love people and love helping.” (Tweet This!)
“Money is not the most important thing. Friendship and relationships are the most important thing in this business.” (Tweet This!)

Connect with Elliot

Elliot’s BiggerPockets Profile
Elliot’s Facebook Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices