121: Creating the IDEAL Real Estate Investing Business with Andrew and Phillip Syrios

In this episode of the BiggerPockets Podcast, learn how to build an incredibly successful real estate business using the “IDEAL” system. Andrew and Phillip Syrios have built an incredible rental property business in just a few short years and today they’ll share all their best tips so you can do the same. Discover the truth about property management, getting dirty, working with family, rentals, flips, and more! This episode is destined to become one of the most talked-about (and fun) episodes in BiggerPockets Podcast history!

In This Episode We Cover:

• How Andrew and Phillip “get things done.”
• How the brothers started in REI
• Flipping 200 houses… impossible?
• How discipline has helped them buy properties
• What “IDEAL” real estate investing is… and why it matters
• The truth about depreciation
• How to find the true value of properties
• Tips for newbies on getting started
• Working with private lenders to fund deals
• The 4 pieces that need to work in order to have a good buy and hold investment
• The most important things to know as a property manager
• Running a family business
• And SO much more.

Links from the Show:

• BP Podcast 117: Maximizing Productivity to Get Things Done with David Allen
• Buy & Hold Real Estate is the Ultimate Investment: Here’s Why (blog)
• How to Buy a Small MultiFamily Property: A Step by Step Case Study
• The BiggerPockets Book on Flipping Houses
• BiggerPockets Forums

Books Mentioned in this Show

• Getting Things Done: The Art of Stress-Free Productivity (revised edition) by David Allen
• Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down
• The Book on Estimating Rehab Costs by J. Scott
• The Millionaire Real Estate Investor by Gary Keller
• The Landlord’s Survival Guide by Jeffrey Taylor
• How to Win Friends & Influence People by Dale Carnegie
• Great by Choice by Jim Collins
• Good to Great by Jim Collins

Tweetable Topics:

• “The number of houses you flip is not that much important, the main thing is how much money you made.” (Tweet This!)
• “Grow in a sustainable consistent manner than trying to get from here to there in a snap of a finger.” (Tweet This!)
• “Deferring gratification and being able to see the long run is what buy and hold is.” (Tweet This!)
• “Every property has some sort of value.” (Tweet This!)
• “If you hate working, then nothing’s going to work.” (Tweet This!)
• “You’re only as good as your management.” (Tweet This!)
• “If you’re the property manager, then you should be the good guy and always on their team.” (Tweet This!)
• “Success builds on itself.” (Tweet This!)

Connect with Andrew

• Andrew’s BiggerPockets Profile
• Andrew’s Real Estate Website

Connect with Phillip

• Phillip’s BiggerPockets Profile
• Phillip’s Youtube
• Phillip’s Twitter

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