What kind of long-term goals do you have? Based on those, should you be flipping homes or holding them? What are the benefits of the BRRRR method?
In this episode of the Real Estate Mindset Podcast, Doug Spence and I chat about the BRRRR investing method and how it can benefit you in the long run. We also discuss how easy it may be for a real estate investor to get caught up in the day-to-day tasks of managing a property. For Doug, he believes the best way to avoid falling into this trap is to invest out-of-state so that it is physically impossible for you to do these tasks that should be delegated. This way, you can focus on the big picture decisions that will grow your portfolio.
He also talks about how important it is to be in alignment with your spouse about the goals you have in mind for you and your family. A lot of couples take for granted that they may be on the same page, but are often not. Lastly, Doug shares with us the mindset tips that made him successful in what he does today.
What we discuss:
01:40: About Doug Spence
04:20: How did Doug get the idea to enter the real estate market?
08:32: What does Doug’s Real Estate business look like right now?
11:01: How to use SMS marketing funnels to find seller leads
15:00: What are Doug’s goals for his deals?
18:20: What is Doug’s morning routine?
20:37: What books does Doug recommend?
23:17: Has Doug ever had a coach?
25:31: What’s something Doug has done in the past that he wouldn’t repeat?
31:11: What’s Doug’s go-to mindset tip?
35:14: What is on Doug’s bucket list?
37:31: What is Doug’s definition of success?
38:06: Why does Doug think he is more successful than others?
To learn more about Doug: