cover of episode 446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren Clugston

446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren Clugston

Publish Date: 2021/2/25
logo of podcast BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast

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Shownotes Transcript

    <p>Have you ever had <a href="https://www.biggerpockets.com/blog/cure-analysis-paralysis"><strong>analysis paralysis</strong></a>? Maybe you have it right now and that’s why you’re listening to this episode! <strong>Kyle and Lauren Clugston</strong> would call that “<strong>productive procrastination</strong>”, and the only way to get out of it is to move forward! They should know, it took them <strong>over 3 years before they made their first move in real estate investing</strong>! </p><p>In college Lauren stumbled upon Brandon’s old blog about <strong>real estate investing</strong>. As she read, she gained more confidence in the craft, and knew that real estate was what she wanted to do with her money. She then started<strong> trying to convince her partner, Kyle</strong>, that real estate investing was the way to go. As someone<strong> without an investing background</strong>, Kyle was hesitant, but took a leap of faith which paid off!</p><p>Now they're <a href="https://www.biggerpockets.com/guides/brrrr-method"><strong>BRRRR</strong></a><strong>-ing</strong> their way through New Jersey, with<strong> single family and multifamily properties </strong>throughout the state. Lauren and Kyle had to learn a lot before they became the real estate success stories they are now. Things like doing <strong>inspections, </strong><a href="https://www.biggerpockets.com/blog/how-to-estimate-rehab-costs"><strong>estimating rehab costs</strong></a><strong>, getting financing</strong>, setting up systems and procedures, and getting legal documents prepared were at one point a great challenge to Lauren and Kyle. Now, they’ve got them down!</p><p>Lauren and Kyle lay out <strong>everything they wish their former selves had known</strong>, and go through the things that <strong>early real estate investors should worry about</strong>, and the things they <strong>definitely shouldn’t lose sleep over</strong>. This advice could save months, weeks, or hours off of your deal analyses and might be just the thing you need to get out of analysis paralysis! </p><p>In This Episode We Cover:</p><ul>
  • Why house hacking is such a great strategy for new investors
  • Focusing on the right metrics, whether it be cashflow or units
  • Defining your specific roles as partners and investors 
  • The importance of weekly meetings with your team
  • Setting up your real estate to run like a business, not just a hobby
  • How to put together an “invest with us” packet for private lenders
  • And SO much more!
  • Links from the Show

    Check the full show notes here: http://biggerpockets.com/show446

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