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From Bigger Pockets to a Better Life with Brandon Turner

 

  

 

From Bigger Pockets to a Better Life with Brandon Turner

Join us as we dive into the incredible journey of real estate investor and podcaster Brandon Turner. Discover how he went from buying a deal a year to building a portfolio of over 13,000 units, and learn the strategies and mindset shifts that fueled his remarkable success.

Table of Contents

Brandon's Entrepreneurial Awakening

It all started with a realization at Joe Ferrellus' best ever conference in Denver. Surrounded by successful real estate investors, I came face to face with my untapped potential. I was only buying a deal a year, barely scratching the surface of what I could achieve. It hit me that I could build a big business, have a team, and aim for something much bigger.

Surrounding Yourself with the Right People

Surrounding yourself with successful and motivated individuals can have a profound impact on your own success. When I started associating with people who were achieving greater real estate volume, I began to see new possibilities and opportunities for growth. Through engaging with the BiggerPockets podcast and interacting with accomplished investors like Grant Cardone and Chris Clothier, I gained valuable insights into scaling businesses and leveraging resources effectively.

Learning from Successful Individuals

  • Observing individuals who were handling significantly larger real estate portfolios than mine helped me realize that scalability doesn't necessarily equate to working more hours.
  • Engaging with people accomplishing substantial deals highlighted the importance of strategic delegation and building efficient teams.
  • Witnessing others achieve exponential growth while working fewer hours shifted my perspective on the relationship between effort and success.

The Power of Association

By surrounding myself with ambitious and accomplished individuals, I was able to challenge my own limitations and expand my vision of what was achievable. This environment of success and ambition propelled me to surpass my initial goals and achieve remarkable growth in a relatively short period.

Blowing Past a 1,000-Unit Goal

After making the decision to go all in on mobile home park investing, I set a goal to acquire 1,000 units within a year. This ambitious target pushed me to take massive action and think outside the box to achieve rapid growth.

Strategic Acquisition Tactics

  • Implementing creative financing strategies enabled me to acquire properties with minimal capital and maximize returns.
  • Utilizing innovative negotiation techniques allowed me to secure deals that surpassed my initial expectations.
  • Forming strategic partnerships and leveraging my network played a pivotal role in rapidly scaling my portfolio.

Building a High-Performing Team

Assembling a dedicated and skilled team was crucial in managing a large number of properties effectively and ensuring seamless operations. By delegating responsibilities and empowering my team, we were able to surpass the 1,000-unit milestone with remarkable efficiency.

Why Mobile Home Parks?

Investing in mobile home parks offers unique advantages and opportunities that make it an appealing venture for real estate investors. The following factors highlight the reasons behind the strategic choice of mobile home park investments:

Scalability and Efficiency

  • Mobile home park investments provide the potential for rapid scalability and efficient management, allowing investors to oversee a large number of units with relative ease.
  • Operating larger properties can often be more streamlined and manageable, leveraging economies of scale to maximize returns and minimize operational complexities.
  • With the ability to oversee numerous units within a single property, mobile home park investments offer a compelling avenue for achieving substantial growth and profitability.

Strategic Property Selection

  • Choosing mobile home parks in areas with favorable population demographics and strong tenant demand can significantly enhance occupancy rates and overall investment performance.
  • Avoiding properties with potential challenges such as septic tanks and unfavorable landlord regulations in certain states can mitigate operational hurdles and optimize investment outcomes.
  • Focusing on larger mobile home park properties in well-populated areas can offer a more favorable investment landscape, facilitating improved tenant acquisition and retention.

Avoiding Problematic States and Markets

When it comes to real estate investments, avoiding problematic states and markets is crucial for maintaining a streamlined and efficient portfolio. By steering clear of regions with challenging regulations and governmental barriers, investors can mitigate operational hurdles and optimize their investment outcomes.

Strategic Market Selection

  • Choosing markets with favorable landlord regulations and supportive governmental policies can facilitate smoother property management and tenant relations.
  • Avoiding states with stringent eviction processes and prolonged legal procedures can help investors steer clear of potential challenges associated with tenant disputes and occupancy issues.
  • Focusing on markets with a proactive approach to low-income housing support and tenant rights can create a more conducive environment for sustainable and profitable real estate investments.

Transitioning from Biggerpockets to The Better Life Podcast

After my nine-year stint with the BiggerPockets podcast, I made the decision to transition to The Better Life podcast. This shift was driven by my entrepreneurial spirit and the desire to have autonomy over my schedule and endeavors. While BiggerPockets was an invaluable experience, I craved the freedom to chart my own course and explore new opportunities.

Embracing Entrepreneurial Independence

As an entrepreneur at heart, I value the ability to own my time, schedule, and business ventures. The decision to leave BiggerPockets stemmed from my desire to have full ownership and control over my podcasting journey, aligning with my personal and professional aspirations.

The Birth of The Better Life Podcast

The inception of The Better Life podcast was inspired by a song created by my friends, Derek and Mark. Their music, coupled with my ambition to expand beyond real estate, fueled the creation of a platform that delves into a diverse range of topics and interviews. This transition allowed me to broaden my scope and connect with a wider audience while still maintaining a strong focus on real estate.

The Importance of In-Person Podcasting

When it comes to podcasting, the dynamics of in-person recording can significantly enhance the overall experience for both hosts and guests. The physical presence creates a heightened sense of importance and accountability, leading to more profound and authentic conversations.

 

The Devastating Lahaina Fire and its Impact

The Lahaina fire had a devastating impact on the town, resulting in the loss of numerous businesses and homes. The aftermath of the fire left a significant void in the community, with many individuals and families grappling with the repercussions of the destructive blaze.

The Heartbreaking Toll

The fire claimed the lives of approximately 100 people, a tragedy that has deeply affected the entire community. While the outcome was better than initially feared, the loss of lives and the destruction of the town's downtown area remains a poignant reminder of the catastrophic event.

Navigating the Aftermath

  • Despite the devastation, the resilience and unity of the community have been evident as individuals come together to support one another and rebuild what was lost.
  • Efforts to address the aftermath of the fire have been ongoing, with individuals and organizations collaborating to provide aid and assistance to those affected by the disaster.
  • The impact of the Lahaina fire serves as a stark reminder of the importance of preparedness and community support in the face of natural disasters.

Redefining Success: Prioritizing Family and Happiness

As I continue to navigate through the complexities of business and life, my perspective on success has undergone a significant transformation. While ambitious goals and professional achievements have always been integral to my journey, the paramount importance of family and personal happiness has become increasingly evident.

Embracing Familial Priorities

Amidst the pursuit of entrepreneurial endeavors and professional growth, the invaluable role of family has emerged as a cornerstone of my priorities. The joy and fulfillment derived from spending quality time with my wife and children have become non-negotiable aspects of my life, shaping my decisions and actions in profound ways.

Reevaluating Work-Life Dynamics

Recognizing the perpetual balancing act between work and personal life, I have adopted a deliberate approach to redefining success. Embracing the notion that happiness and contentment are the ultimate measures of achievement, I have embarked on a journey to recalibrate my professional commitments in alignment with my personal values.

  • Setting boundaries and constraints on my time has empowered me to prioritize family engagements and meaningful experiences, fostering a harmonious equilibrium between work and personal life.
  • By reassessing the significance of my professional engagements and endeavoring to derive genuine fulfillment from each pursuit, I have cultivated a renewed sense of purpose and satisfaction.
  • Embracing a mindset that values holistic well-being and emotional fulfillment has catalyzed a profound shift in my approach to decision-making, enabling me to prioritize endeavors that resonate with my core values and aspirations.

Implementing the "Better Life Wheel" for Balanced Goal-Setting

One powerful tool that has significantly impacted my life is the "Better Life Wheel," a comprehensive approach to evaluating and setting goals across various aspects of life. It's a simple yet effective method that provides a holistic perspective on personal growth and fulfillment.

Assessing Ten Key Areas

The "Better Life Wheel" encompasses ten fundamental areas, including health and fitness, finances, career, parenting, relationships, environment, spirituality, personal growth, and more. Each of these aspects plays a crucial role in shaping a fulfilling and balanced life.

Rating and Prioritizing

  • Using a scale of one to ten, I assess my current satisfaction and progress in each area, shading a pie chart to visually represent my ratings.
  • By identifying the three lowest performing areas, I prioritize setting specific and achievable goals for improvement in these aspects.
  • This approach ensures that I address all facets of my life, fostering a well-rounded and purpose-driven pursuit of success and fulfillment.

Quarterly Reevaluation

Recognizing the dynamic nature of personal growth and life circumstances, I regularly revisit the "Better Life Wheel" every quarter. This practice allows me to adapt my goals and focus areas based on evolving priorities and experiences, ensuring continual alignment with my aspirations and values.

Implementing the "Better Life Wheel" has been instrumental in fostering a balanced and purpose-driven approach to goal-setting, enabling me to pursue holistic fulfillment and growth across all aspects of life.

The Importance of Adaptable Goals

Setting adaptable, goals is crucial for aligning aspirations with current perspectives and motivations. Traditional annual goal-setting may lead to misaligned objectives, as desires and priorities evolve over time. By embracing goals that resonate with present emotions and ambitions, individuals can cultivate a more authentic and purpose-driven pursuit of success.

  • Aligning Goals with Current Emotions
  • Embracing Adaptability in Goal-Setting
  • Cultivating Authentic and Purpose-Driven Pursuits

Lessons Learned from Leaving Biggerpockets

Leaving a long-standing professional endeavor is a significant decision that requires careful consideration and strategic planning. My departure from BiggerPockets was driven by a culmination of personal and professional realizations, ultimately leading me to embark on a new trajectory in my entrepreneurial journey.

Persistence Through Challenges

My experience at BiggerPockets, particularly working alongside a dedicated and persistent entrepreneur like Josh Dork, instilled in me the invaluable lesson of persisting through the inevitable challenges and lows that accompany any entrepreneurial venture. Recognizing the "dip" in business and persisting through it has been a transformative mindset shift that continues to guide my approach to navigating obstacles and setbacks.

Building a Bridge to New Identity

  • Transitioning to a new professional identity involved meticulous groundwork and intentional cultivation of a distinct persona, ensuring a seamless transition and a sense of purpose in my new endeavors.
  • By establishing a solid foundation for my new identity and aspirations, I mitigated the potential challenges of feeling lost or adrift after departing from my previous professional role.
  • Embracing a multifaceted identity beyond my association with BiggerPockets enabled a smooth and confident transition into a new phase of my career.

Recognizing the Tipping Point

Understanding the tipping point between personal fulfillment and professional alignment is instrumental in determining the right time to transition from a current role to new opportunities. It's crucial to assess when the scale tips towards individual growth and advancement, signaling readiness for a new chapter.

Strategic Timing and Preparation

  • Timing the departure from a professional role requires a strategic balance of personal readiness, skill development, financial stability, and the establishment of a new professional identity.
  • Building a robust skillset, reputation, and financial stability before embarking on a new venture is pivotal in ensuring a smooth and sustainable transition.
  • Recognizing the point of readiness to pursue independent endeavors, driven by the confidence in one's abilities and the potential for greater personal and professional fulfillment, is a critical aspect of strategic career transitions.

Educating Children on Alternative Paths in Life

As a parent, I am passionate about instilling in my children the understanding that traditional societal norms do not define their potential paths in life. I encourage them to think outside the box and explore unconventional avenues for their education and future careers.

Empowering Entrepreneurial Thinking

I believe in nurturing an entrepreneurial mindset in my children, emphasizing the importance of creativity, problem-solving, and innovative approaches to achieving their goals. By exposing them to diverse opportunities and encouraging their entrepreneurial endeavors, I aim to broaden their perspectives on success and fulfillment.

Fostering Critical Thinking and Questioning

  • Encouraging my children to question the status quo and challenge conventional norms empowers them to think critically and consider alternative paths to achieving their aspirations.
  • By fostering an environment that values curiosity and independent thinking, I aim to instill in them the confidence to explore unconventional routes and embrace non-traditional methods of learning and personal development.
  • Empowering them to question societal constructs and preconceived notions fosters a sense of autonomy and self-directed decision-making, enabling them to navigate their futures with confidence and resilience.

Supporting Entrepreneurial Ventures

When my children express entrepreneurial ideas or innovative solutions to challenges, I actively support and provide resources to nurture their ventures. Embracing their creativity and initiative, I seek to cultivate an environment where they feel empowered to explore diverse paths and pursue their passions.