BiggerPockets Real Estate Podcast

Episode: Making Money 7 Different Ways on Each Property (Without Even Owning It!)
Date: March 25, 2026
Host: Dave Meyer & Henry Washington
Guest: Chauncey Pham

Episode Overview

This episode features an in-depth conversation with Dallas-based investor and entrepreneur Chauncey Pham, who has built a vertically integrated real estate business. Chauncey reveals how she reliably makes money from seven different revenue streams on every property she touches—without ever owning the property herself. She provides a rare look into how thinking beyond simple buy-and-hold or flipping can transform real estate into a true, scalable business. The hosts and Chauncey discuss creative deal sourcing, the benefits of vertical integration, and actionable steps for investors to monetize every stage of a deal.

Key Discussion Points & Insights

1. Chauncey’s Background and Journey Into Real Estate

• Early Career in Sales and Marketing: Started in hardcore sales, then became an account executive at a marketing firm working with major brands (01:55).
• Real Estate License Motivation: Initially got her license to afford a Disney World vacation—unexpectedly made her annual salary in just three months as an agent thanks to her sales background (02:45).
• Transition From Agent to Investor: Became the top recruiter at a national brokerage with 400 agents under her, enabling her to start investing (03:10).

2. Why Get a Real Estate License First?

• Understanding Both Sides of the Transaction: Chauncey credits her agent experience as pivotal to her success as an investor, giving her unique insight into buyers’ psychology and what makes a home memorable (04:09).
  • “I 100% attribute my successes and my mindset in being an investor to the fact that I was a realtor first.” – Chauncey (04:09)
• Debate Over the Necessity of a License: Hosts discuss the balance between understanding transactions and systemizing processes (05:12).

3. Early Investing Lessons & The Transition to Flipping

• First Investment Client: Learned how much more investors could make over agents; realized she could improve on a client’s inefficient processes (06:29).
• Husband Joins the Business: Convinced her husband, a corporate exec, to quit and run the investment arm (08:25).

4. Creative Deal Sourcing: Solving Problems, Not Just Finding Properties

• First Flip Example: Bought for $125K, sold for $186K with zero renovations after solving a title lien problem—emphasizing deals exist through problem-solving, not just numbers (12:53; 13:43).
  • “Are those types of deals still out there where you just need to be a problem solver? Yes, all day long.” – Chauncey (14:19)

5. Live Seller Call Roleplay: Building Trust and Flexible Solutions

• Seller Conversation Demo: Chauncey demonstrates her warm, problem-oriented approach—probing for pain points, leveraging agent/investor flexibility, and presenting options tailored to sellers’ true needs (15:40-18:31).
  • “If I could wave a magic wand for you…how does the situation play out in your head?” – Chauncey (15:48)
  • “You don’t get both at the same time. You can’t be out of time and want more money.” – Chauncey (18:39)

6. Scaling Up Flips and the Path to Vertical Integration

• Flipping Volume: Scaled from 10 flips the first year to a peak of 21.
• Price Evolution: Started with properties in the $100Ks–$300Ks range, now routinely buying for $300K–$400K+ and selling $600K–$800K+ (21:45–22:23).

7. Product Differentiation: Designing for Demand, Not Spec Sheets

• Quirky, Character-Filled Homes: Focuses on stand-out features—like sunken living rooms and unique architecture—drawing passionate buyers and avoiding “beige box” renovations (23:25–24:07).
  • “Your job as a marketer is to create an offer that's so irresistible…the consumer can't not buy...almost create raving fans.” – Chauncey (24:18)

8. Rental Properties & Market Challenges

• Rental Portfolio: Holds 17 rentals in East Texas for cash flow, but dislikes their lack of appreciation; uses flipping to generate capital instead (28:44).

9. The Turnkey, Vertically Integrated Flip Model

• No Ownership, Multiple Revenue Streams:
  • Offers a truly “done-for-you” flipping service to capital partners—Chauncey’s companies handle acquisition, lending, construction, design, staging, and sales, collecting a piece at every step (30:29).
  • “I'm able to make six figures on each deal with zero money out of my pocket.” – Chauncey (32:37)
  • Investors get 20-25% returns without lifting a finger; Chauncey’s businesses profit at every stage by internalizing what would otherwise go to outside providers (32:54; 33:26; 36:13).

10. Risk, Rewards, and Structure for Investors

• Margin Structure: No fixed fees—profits come from different verticals depending on the property specifics.
• Risk Mitigation: Underwrites conservatively, any cost overruns are clear and deliberate choices for extra upside, not open-ended risk (34:46–36:13).

11. Building and Owning the Vertical Integration One Step at a Time

• Exercise in Monetizing Every Step: Realized up to 45 people make money on a single transaction—set out to internalize as many as possible (37:25, 39:47).
• Implementation over Reinvention: Advocates starting with functions you already perform and pulling them in-house, rather than starting unrelated businesses (39:47).
• All Businesses Built from Scratch: Started one by one, keeping focus on serving her primary verticals (40:02-40:27).

Notable Quotes & Memorable Moments

• On Problem Solving in Acquisitions:
  “Are those types of deals still out there where you just need to be a problem solver? Yes, all day long. That's what all of them are.” – Chauncey (14:19)

• On Vertical Integration and Risk:
  “I'm able to make six figures on each deal with zero money out of my pocket.” – Chauncey (32:37)

• On Seller Negotiation:
  “If I could wave a magic wand for you…how does the situation play out in your head?” – Chauncey (15:48)
  “You don’t get both at the same time. You can’t be out of time and want more money, okay?” – Chauncey (18:39)

• On Differentiating Renovations:
  “We find the houses with old character and we try to preserve it.” – Chauncey (23:55)

• On Building Multiple Businesses:
  “Just one by one...I think you start to get into the weeds with vertical integration when you're trying to reinvent the wheel instead of looking at what you're already doing, who you're paying money to, and then seeing how you can kind of bring that in house.” – Chauncey (40:13, 39:47)

Timestamps for Key Segments

• Chauncey’s Early Career & Agent Experience: 01:55–03:55
• Why Real Estate License Helps Investors: 04:09
• Transition to Flipping & Husband’s Role: 06:29–08:51
• First Flip, Problem-Solving Mindset: 12:53–14:57
• Live Seller Negotiation Roleplay: 15:40–19:22
• Flipping Numbers, Market Evolution: 21:45–23:00
• Design Differentiation, Buyer Psychology: 23:25–24:58
• Rental Properties in East Texas: 28:44–29:47
• Explaining the Turnkey Model: 30:29–34:46
• Risk and Profit Structure for Investors: 34:59–36:13
• Vertical Integration Process: 37:25–41:05

Takeaways for Real Estate Entrepreneurs

• Vertical Integration Provides Stability & Scale: Bringing more segments of the real estate process in-house can multiply profit, reduce risk, and provide a buffer against market shifts.
• Adopt A Service Mindset: Viewing real estate as a set of overlapping services, not just one-off deals, can open up numerous revenue streams.
• Memorability Wins: Creating unique, attractive homes wins passionate buyers, multiple offers, and strong margins—even in competitive markets.
• You Don’t Need to Own to Profit: Operating as an “operator” serving capital partners can be safer and more scalable than owning properties outright.

For actionable insights and inspiration on multi-stream real estate entrepreneurship, this episode is a must-listen.