cover of episode 434: How HGTV’s Scott McGillivray Started a Real Estate Empire with No Job, No Money, and No Experience (Part 1)

434: How HGTV’s Scott McGillivray Started a Real Estate Empire with No Job, No Money, and No Experience (Part 1)

Publish Date: 2021/1/14
logo of podcast BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast
Frequently requested episodes will be transcribed first

Shownotes Transcript

    <p>Do you like watching home improvement shows such as <strong><em>Income Property</em>, <em>Vacation House Rules</em>, and <em>Buyers Bootcamp</em></strong>? If so, you’re in luck! Joining us on the podcast is HGTV host <strong>Scott McGillivray</strong>! Scott has been hosting some of the best <a href="https://www.biggerpockets.com/blog/real-estate-beginners-pro-tips-start-investing-now">real estate investing</a> and construction shows for over a decade now, and if you like BiggerPockets, you’ve probably seen an episode of one of Scott’s shows!</p><p>Scott’s investing career started long before his TV network deals. As a student in college, Scott accidentally stumbled upon his <strong>landlord’s mortgage statement of account</strong>. He realized that him and his roommates were paying a few hundred dollars over what their landlord was paying monthly for a <strong>mortgage</strong>. That was the <strong>lightbulb moment </strong>for Scott. It was time to get into real estate investing.</p><p>While in college with <strong>no job, very little money, and no experience</strong>, Scott bought a house and moved out of his rented room. Now he wanted more. Over the next few years Scott started amassing more and more rentals, taking as many <a href="https://www.biggerpockets.com/blog/2015-03-27-financing-options-rental-property-guide"><strong>financing options</strong></a> as he could get his hands on. By the time he was 25, he already had<strong> 25 units</strong> and a significant amount of profit coming in every year.</p><p>This only pushed Scott to strive for <strong>bigger and better deals</strong>. Now Scott owns <strong>hundreds of rentals</strong>, and spends his time between Florida and Canada, finding more deals, and fixing up more rentals.</p><p>Scott is a tried and true investor, one who has gone through different <strong>market swings</strong>, different fads, and many different tenants. While he’s only in his early 40s, he has amassed an extensive knowledge of the real estate space. It’s no surprise he’s one of <strong>Brandon’s real estate heroes</strong>!</p><p><em>If you liked this episode be sure to tune in this weekend for part 2 of Scott's interview!</em></p><p>In This Episode We Cover:</p><ul>
  • When is the best time to get started in real estate?
  • Why most people are scared to invest, and what pushes them to finally do it
  • Amassing a small real estate empire even while you’re young
  • How to take advantage of financing offers and how Scott closed on 8 houses in the same day
  • Why you need to give your investing career time to start rolling
  • What a “double offer” is, and how you can use it to beat others to a deal
  • Why you should take action even when the market is uncertain
  • The ScottMc Method
  • And SO much more!

    • Links from the Show

    Check the full show notes here: http://biggerpockets.com/show434

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