The Hard Truths of Building a Real Estate Empire | Bill Allen

Bill Allen, a retired Navy pilot and successful real estate investor, shares his journey from military to entrepreneurship. He emphasizes the importance of systems and processes in scaling a business and highlights the need to focus on strengths rather than weaknesses. Allen discusses the sacrifices he made to build his business, including working long hours and doing the physical labor himself. He also explains how he transitioned from rehabbing houses to wholesaling and the benefits of being the source of deals. Allen concludes by discussing the risks and rewards of flipping and wholesaling. We discuss the different paths to success in real estate investing. We explore the pros and cons of flipping properties versus wholesaling, and the importance of leveraging other people's money. We also delve into the process of scaling a real estate business and the challenges that come with it. Bill emphasizes the need for a small, efficient team and the importance of learning from mistakes. We both stress the value of having a mentor or coach to guide you through the ups and downs of building a business. — Thank you to Lamassu Leads for sponsoring today’s episode. Go to www.lamassuleads.com — Connect with Bill! Instagram - @billallenrei Podcast- Seven Figure Flipping Website - https://www.7figureflipping.com — The #1 training and coaching system to launch, grow, and scale your investing business! 𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞: http://www.thescienceofflipping.com Turn cold real estate leads into engaged motivated sellers on auto-pilot using the power of A.I! 𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞: https://www.rocketly.ai/ Have a question? Ask me anything at https://www.askjustin.ai/ 𝐀𝐛𝐨𝐮𝐭 𝐉𝐮𝐬𝐭𝐢𝐧: After graduating from UCLA in 2003 with an English degree, Justin went directly into business for himself. He has never had a W-2 job. In 2005 he got into real estate by co-founding a brokerage in the Northern California area. Quickly he realized that being a realtor was not for him. In 2007 he got into real estate investing full time. 16 years later, Justin has flipped well over 2600 properties, accumulated millions in rental properties, and is an active investor to this day. His success in real estate led him to start The Science Of Flipping podcast and education company, where he has coached and mentored over one thousand aspiring and active investors. He is a nationally recognized speaker and is on a mission to educate as many people as possible on becoming a successful dynamic real estate investor. 𝑾𝒉𝒂𝒕 𝒕𝒉𝒆 𝑷𝒓𝒐𝒔 𝑯𝒂𝒗𝒆 𝑻𝒐 𝑺𝒂𝒚 𝑨𝒃𝒐𝒖𝒕 𝑱𝒖𝒔𝒕𝒊𝒏: “Justin is one of the best trainers in this space. He really gives everything to his tribe.” – Brent Daniels (TTP) “Justin’s ability to connect with people and help them understand what he is teaching, is unparallelled” – Kent Clothier (REWW) “We have been in the trenches flipping homes in Phoenix for over a decade, he is one of the best to do it.” – Sean Terry (Flip2Freedom)