Real Estate Rookie
Ready to build your real estate empire… but not sure where to begin? Think of us as your personal trainer. From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask. Looking to 10X your real estate investing business this year? This show isn’t for you. Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Monday, Wednesday and Friday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.
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This is supposed to be a good time to buy a rental property, right? People keep saying we’re in a “buyer’s market,” and that you have more negotiating power than usual. But how do you find these deals in the first place? If you’re tired of spinning your wheels, we’ve got several strategies, tips, and tricks that will help you find GREAT real estate deals faster! Welcome to another Rookie Reply! Ashley and Tony are answering more questions from the BiggerPockets Forums, and first up, you’ll hear from a rookie investor who can’t seem to find any good off-market deals. Despite cold calling homeowners and driving for dollars, they keep coming up short. Are they missing something? Should they be looking elsewhere? We’ll point them in the right direction! Meanwhile, another investor wants to buy a property that could give them huge appreciation, but there’s a catch—it doesn’t cash flow! Stay tuned to learn whether this kind of deal is an automatic no-go or a viable strategy. Finally, what separates “good” and “bad” deals? Is there a certain metric or benchmark all rookies should be looking for when analyzing rental properties? Stick around to find out! Looking to invest? Need answers? Ask your question here! In This Episode We Cover Why many rookie investors struggle to find great real estate deals today How to find and buy discounted rental properties in this buyer’s market Investing for cash flow versus appreciation (and which one matters more) Whether you should buy an investment property that has “negative” cash flow Using real estate investment analysis to tell a “good” investment from a “bad” one And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-643 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Hesitant to buy a rental property? Many rookies think they need more money, experience, or even “perfect timing,” but waiting for these things could just be holding you back from building wealth with real estate. If you’re on the fence about investing, or if you need an extra nudge to get off the sidelines, this is the episode for you! Welcome back to the Real Estate Rookie podcast! Today, Ashley and Tony are sharing four clear signs that you’re ready to buy your first rental property. As you’re about to hear, you don’t need to know everything about real estate investing, have a huge bank account, or stumble across your dream deal to take action. You can start with a little know-how, financial stability, and a clear picture of what you want to achieve with real estate! We’ll show you how to get your financial house in order, when to stop learning and start doing, and how to niche down to an investing strategy that makes the most sense for you and your long-term goals. Stick around till the end for a special seven-day challenge that could help you take down your first property faster than you thought possible! In This Episode We Cover Four clear signs you’re ready to buy your first investment property Building a strong financial foundation before investing in real estate The secret to beating analysis paralysis and finally submitting offers Choosing an investing strategy that aligns with your skills and resources Next steps to prepare you for buying a rental property (if you’re not ready!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-642 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Rookies are often told to stick to one investing strategy, but today’s guest is going against the grain by combining the long-term appreciation of rental properties and the passive income of private money lending. Want to build a diversified real estate portfolio that can weather any kind of market shift or job loss? He has the blueprint! Welcome back to the Real Estate Rookie podcast! Shalom Yusufov’s first real estate deal wasn’t your average single-family rental. In fact, it wasn’t a rental at all, but a private lending opportunity that gave him a whopping 11% return. Leaning on the experience from that first deal, Shalom has gone on to complete several private money deals, start his own fund, and buy nine cash-flowing rental units in just ONE year! But it hasn’t been all smooth sailing. In this episode, Shalom discusses one of the deals that went south and why it’s so crucial to vet both the property and the borrower on every private money deal. He also talks about why you should always have multiple exit strategies, and why becoming a landlord isn’t quite as time-consuming as some would have you think! In This Episode We Cover: How to get into private money lending (even if you don’t have a ton of cash!) The number one thing new investors get wrong when vetting a private money deal How to lower your investing risk with a diversified real estate portfolio Why you should always have multiple exit strategies when lending to other investors Choosing the right market to invest in when your backyard is too expensive And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-641 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You’re seeing houses sit on the market for longer. Now could be your chance to snag an underpriced rental property. But your agent doesn’t know if lowballing is the best move. Should you take advantage of this frozen housing market and go for a steep price cut, or get on the seller’s side with a slightly lower offer? Ashley is feeling aggressive. And in this episode, she’s about to tell you why. We’re back with another Rookie Reply where we take your questions and answer them live on the show. First, a new investor wants to partner on a short-term rental with her friend, but this multifamily deal will also serve as the friend’s primary residence. Can you legally do this? Will a bank allow both of them to be on the loan and take on the debt? Ashley has done something similar before and shares the exact setup. An agent/investor combo has a client who wants to seriously lowball some sellers. The 2025 housing market is cooling, so is now the time to submit a rock-bottom offer? Finally, a new-build investor runs out of money and asks, “How do all these 20-year-olds buy 15 properties in a year?” Tony shares an underrated way to get capital for investments and repeat the process over and over. Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Why you should be submitting lowball offers on overpriced/stale listings How to form a partnership when you and your friend are buying a rental together Do NOT deposit a bunch of money into your partner’s account for the down payment (here’s why) Ran out of cash but want to keep growing? Here’s how to get your investing capital Why you should not care about “door count” and worry much more about this And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-640 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you’ve just stumbled on the perfect real estate deal? Not so fast! The truth is that some rental properties may look good on paper but are actually much more trouble than they’re worth. Today, we’re going to show you seven warning signs to look out for before closing on your next property! Welcome back to the Real Estate Rookie podcast! In this episode, Ashley and Tony are breaking down seven of the most common (and costly) red flags that can quickly turn a rookie investor’s “dream deal” into a financial nightmare. Whether you’re doing a BRRRR (buy, rehab, rent, refinance, repeat), flipping houses, or even house hacking, you won’t want to make these critical mistakes that could drain your time, energy, and money. You’ll learn the keys to proper real estate analysis, like calculating “hidden” costs and lowering your risk by accounting for the worst-case scenario. We’ll also show you how to avoid getting in over your head with a renovation project and why you should never bank on appreciation—especially at the expense of cash flow. If your property doesn’t have any of these red flags, chances are you’ve got a great deal! In This Episode We Cover Seven red flags to watch out for when buying a rental property Why buying the “cheap” property could cost you way more in the long run Taking on renovation projects that align with your skill level How to stress-test a deal so you still profit in a worst-case scenario Why you should never sacrifice cash flow for potential appreciation And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-639 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Don’t think you have enough time, money, or energy to invest in real estate? Living in an expensive and highly competitive market, today’s guest had every reason not to invest, yet has been able to build her own rental portfolio in just a few years—all while working a normal W-2 job. If she can do it, YOU can, too! Welcome back to the Real Estate Rookie podcast! Esther Simeone was stuck in a pricey market, and after submitting over a dozen offers and missing out on every one, she could have put real estate investing on the back burner and waited for the market to turn. But hell-bent on house hacking and building wealth with real estate, Esther kept looking. Finally, the perfect deal fell in her lap—an “overlooked” listing that now helps pay her mortgage! Since then, she has snagged a second property, used the Airbnb arbitrage strategy for more cash flow, and even designed an ADA-accessible vacation rental—a passion project that has given her a fresh perspective on what can be achieved through real estate. In this episode, Esther will show you how to get in the game today, no matter how little time or money you’re working with! In This Episode We Cover How to build and scale a real estate portfolio while working a W-2 job Using other people’s rentals to make money with rental arbitrage How to make “boring,” steady cash flow with medium-term rentals Covering your mortgage (or part of it) with the house hacking strategy Finding discounted investment properties by scouring old listings And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-638 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you ever plan on selling a rental property (which you probably should), listen to this Rookie Reply. Halloween is over, but we’ve got two real estate investing stories that would make any investor’s skin crawl. First, a buyer is delaying closing longer and longer, coming up with excuses, lying to the seller, and wants more time. But…they’re your only offer, and it’s getting close to the winter slow season. What do you do? Next, a seller financing deal gone wrong (in every single way). Your buyer stops paying you, starts renting your house out, takes the money, and, get this, moves into your basement…now they’re squatting. What do you do to get them out and finally reclaim your property? Lastly, we’re ending on a lighter note. Should landlords ever include appliances like washers and dryers in their rentals? Ashley’s answer goes against the grain, but her reasoning is rock solid! Looking to invest? Need answers? Ask your question here! In This Episode We Cover How to force a flaky buyer to either close or stop wasting your time Seller financing vs. subject to, and the big difference when you’re the seller How to get a squatter out of your property for good The appliances you should (and should not) include in your rental property And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-637 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Buying rentals isn’t the only way to build wealth with real estate—far from it. Today’s guest is making huge returns without fixing toilets or evicting tenants. If you want a more passive way to invest that won’t drain your time or energy, this episode is for you. Stay tuned to hear all about private money lending and how to get started with less money than you probably think! Welcome back to the Real Estate Rookie podcast! Today, Devon Kennard joins the show to break down private money lending and how it stacks up against other popular investing strategies like long-term rentals and flipping houses. Private money may not give you the same appreciation or tax benefits as rentals, but as you’re about to hear, you can often make bigger and faster returns. The best part? This is real, passive income. After a little due diligence upfront, you’ll get to sit back and collect a check! In this episode, Devon shows you how to lend your money, step-by-step, for returns of 12%-15% or more—even if you don’t have hundreds of thousands of dollars to deploy. Along the way, he’ll show you key documents and systems you’ll need to structure your first deal, lower your risk, and protect your investment! In This Episode We Cover How to find and structure your first private money deal (step-by-step) How to “become the bank” for other real estate investors (15%+ returns!) Why you don’t need hundreds of thousands of dollars to start lending money Essential documents to have in place for every private money deal Why private money lending beats buying rental properties (if you want passive income) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-636 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Real estate investing isn’t always pretty. Just ask today’s guest, who quit his W-2 job to focus on real estate full-time and took down 10 deals in just one year, only for common rookie mistakes to derail his investments. If you want to know exactly what to do (and what not to do) when starting out, you won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! After a “home run” first deal, rookie investor Chris Reichenbach was feeling on top of the world. Eager to scale his real estate portfolio as quickly as possible, he got several more properties under contract—raising private money and forming real estate investing partnerships to get the funding he needed. But then, his flips started going sideways. Projects weren’t being run correctly, and his newly renovated properties were sitting on the market for way too long. After unearthing one problem after another, Chris decided to hit pause on his investments. Now, he’s relaunching his real estate business and completing one deal at a time—the right way. In this episode, you’ll hear about not only the successes that come from taking consistent action but also the mistakes that YOU can easily avoid by following his advice! In This Episode We Cover How Chris bought 10 properties in just one year of investing Quitting your W-2 job to become a full-time real estate investor Three different ways to build and scale a real estate portfolio Lowering your living expenses with the house hacking strategy How to keep your renovation projects on schedule (and within budget!) Creative ways to raise private money for your next investment Red flags to watch out for when forming a real estate partnership And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-635 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley Kehr and Tony J. Robinson answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How do you actually begin investing if you’ve been stuck on the sidelines? Are you paying too much for your contractor’s bids—and what should you do if you are? And how do you lock down a high-cash-flow opportunity without overreaching? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-634 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Have you seen the headlines lately? If so, you might be tempted to pump the brakes on real estate investing and wait for the economy to pick up. But you could be missing out on huge wealth-building opportunities we haven’t seen in years. Today, we’re sharing how YOU can gain an edge in this housing market! Welcome back to the Real Estate Rookie podcast! By this point, you’ve probably heard it all: the market has slowed. The economy has weakened. Unemployment is on the rise. Some say we’re still headed for a recession. What does this all mean for real estate investors, especially rookies looking to take down their first deals? As you’re about to hear, Ashley and Tony believe you have a golden opportunity to invest in real estate right now! Those who wait on the sidelines could regret missing out, while those who make moves today could easily come out ahead. Tune in to learn why time in the market almost always beats timing the market, how to lower your investing risk with “conservative” investment analysis, and the different levers you can pull to buy rental properties at a deep discount! In This Episode We Cover Huge opportunities for real estate investors in a “weak economy” Why time in the market beats timing the market (even in real estate!) Five steps to buying your first or next rental property in this market Why holding out for lower mortgage rates is usually the wrong move How to mitigate risk through “conservative” deal analysis Why you should always ask for seller concessions in a buyer’s market And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-633 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
New investors are often told to avoid pricey markets and buy rental properties in more affordable areas, but today’s guest did the exact opposite. Now, he owns three duplexes that bring in $9,000 in monthly cash flow and was able to quit his corporate job much sooner than would have been possible otherwise. With his investing roadmap, you could, too! Welcome back to the Real Estate Rookie podcast! James Kitt couldn’t see himself spending the next 40 years of his life working in a cubicle, so when the world suddenly shut down, he decided to take a stab at real estate investing. But rather than chasing below-median home prices in other areas of the country, James leaned into his own market just outside New York City. Despite having very little money saved, he found a way to buy his first rental property with just $1,000 down! No matter your market, James will show you how to use debt to fast-track financial freedom and potentially leave your W2 job with only a few properties. You’ll also learn how to “live for free” through the power of house hacking, save a fortune with do-it-yourself (DIY) home renovations, and more! In This Episode We Cover How James makes $9,000 in monthly cash flow with just three properties Fast-tracking financial freedom by investing in high-cost-of-living areas Saving thousands of dollars with do-it-yourself (DIY) home renovations How to wipe out your living expenses with the house hacking strategy Several creative ways to put low money down on an investment property How to attract your “target tenant” and lower your vacancy rates And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-632 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How to handle banking and bookkeeping for your rentals What if you can't find a deal? Should I buy this deal? with income and expense breakdown Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-631 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Does real estate investing feel like more work than it’s worth? It doesn’t have to! Today’s guest would hustle from sunrise to sundown until she had an epiphany that transformed her approach to real estate. If you want a rental portfolio that gives you financial freedom, time flexibility, and a “job” that beats your nine-to-five, she’s going to show you how! Welcome back to the Real Estate Rookie podcast! Leka Devatha had what most rookie investors dream of having: multiple rental properties, a seven-figure real estate portfolio, and enough income to leave the W-2 life behind. But despite this, she found herself stretched thin and burned out. That’s when Leka made a crucial mindset shift. Rather than amassing properties, Leka started focusing on the quality of her real estate deals. Now, she has a real estate business that virtually runs itself, allowing her to travel the world and spend more time with family. If you, like Leka, want to go from burnout to balance, this is the episode for you. With her playbook in hand, you’ll be able to analyze rental properties (the right way), streamline the tasks that bog down your business, and get a bigger return on real estate—without the nonstop hustle! Get 10% Off Leka’s New Book, Return on Real Estate, with Code ASHLEY10 or TONY10! In This Episode We Cover The crucial mindset shift that helped Leka make $100,000 per real estate deal How to go from burnout to financial freedom in your real estate business When not to scale your rental portfolio (and slow down instead) What Leka got wrong when building a seven-figure real estate portfolio What to do when a house flip goes wrong (and you lose $65,000!) Game-changing systems and processes that maximize your returns And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-630 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you dream of financial freedom, but aren’t sure how to reach it? Ashlee Perry was in a similar boat, but in just one year of real estate investing, she has been able to turn her home into a money-making machine and buy a rental property with low money down—bringing her one step closer to her ultimate goal! Welcome back to the Real Estate Rookie podcast! Ashlee had always wanted to reach financial freedom, but it wasn’t until she discovered real estate that she saw a clear roadmap for achieving it. To test the waters, Ashlee listed her primary residence on Airbnb and stayed with her parents and friends while it was booked out—a move that made almost $25,000 in year one. She has since bought her first investment property—a duplex she currently house hacks—and converted her previous home into a long-term rental! In this episode, Ashlee shares the strategies she used to create a five-figure income stream using only her primary residence and how she’s building a real estate portfolio with low-money-down investment properties. She also offers several helpful tips for rookie landlords, like best practices when inheriting tenants! In This Episode We Cover Ashlee’s roadmap for achieving financial freedom with real estate investing How to turn your home into a part-time rental that pays your mortgage How to buy an investment property with low money down (less than 20%) Best practices for managing and communicating with inherited tenants Scaling your real estate portfolio fast with the house hacking strategy And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-629 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley Kehr and Tony J. Robinson answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How to make your offers more competitive When does long distance investing actually make sense? Partnership best practices for reducing friction and increasing cash flow! Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-628 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Planning to self-manage your rental properties? There’s much more to it than just collecting rent checks! Even as a do-it-yourself (DIY) landlord, you’ll need help, so we’ve assembled a list of 10 must-have tools that will not only improve your property’s performance but also save you a ton of time and money! Welcome back to the Real Estate Rookie podcast! In this episode, Ashley and Tony are sharing some of their favorite tips, tricks, and tools for rookie landlords. From the best property management software options to unit “cheat sheets” you’ve probably never heard of before, adding these resources to your toolkit will make your life much easier. We show you how to protect your properties with the right insurance and legal protections, as well as how to promptly communicate with tenants without taking those dreaded 2 AM calls. We even share two ways to conceal your personal information, like your home address and personal phone number. Whether you own a single rental property or a large real estate portfolio, add these to your arsenal! In This Episode We Cover 10 must-have tools for self-managing your rental properties Legal protections and insurance policies you can’t afford to go without The one-page “cheat sheet” that tells you everything you need to know about a rental unit Different types of software that will shave hours off your workweek Two ways to keep your personal information private from tenants The number one way DIY landlords burn out (and how to avoid it!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-627 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If real estate investing feels out of reach—like something people with money do—this episode might just change that. Today’s guest was sleeping in his car, had maxed out his credit cards, and barely spoke English, yet was able to build a real estate portfolio that brings in over $4,000 in monthly cash flow! Welcome back to the Real Estate Rookie podcast! Sebastian Rodriguez moved to the US without a job, money, or connections in hopes of building a better life. After hearing about the financial freedom normal people could achieve with rentals, he put his head down, surrounded himself with other investors and mentors, and soaked up as much information as possible. His hard work paid off, as in just six years, he has scaled to 13 rental units. Stay tuned to learn exactly how he did it and how you can do the same—no matter your starting point! Sebastian talks about his journey from sleeping at train stations to building wealth with real estate, but that’s not all. He also shares all kinds of practical tips for overcoming analysis paralysis, narrowing down your buy box, and building an investing network so that private money lenders and potential partners flock to you! In This Episode We Cover How Sebastian went from broke to making $4,000 in monthly cash flow from rentals The biggest mistakes rookies make when buying an investment property Analyzing a real estate market for your buy box, budget, and investing goals How to build out your real estate investing network from scratch The secrets to raising private money for your first (or next) real estate deal And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-626 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: House hacking with a friend, can you legally do this? How to handle one tenant wanting another tenant off the lease An airbnb host changed the listing after people already booked! Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-625 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Most rookies think you need a mountain of cash to buy a rental property, but the truth is that the financing strategy you choose matters much more than the size of your bank account. Today, we’re breaking down five of the best (and sometimes overlooked) ways to get your hands on the money you need to close—from low-money-down bank loans to options that let you bypass the bank altogether! Welcome back to the Real Estate Rookie podcast! In this episode, Ashley and Tony share some of their favorite ways to fund real estate deals in 2025. Whether you’ve got very little money saved or already have a sizable down payment, we’ve got options for every budget. You’ll learn how to put less money down with FHA and conventional loans, but we’ll also share several strategies that allow you to use other people’s money (OPM)—like real estate partnerships, private money, and seller financing! Already own your home? We’ll even show you how to tap into your existing home equity so that you always have funds on hand—money you can use to build a real estate portfolio much faster than you thought possible! In This Episode We Cover Five of our favorite ways to fund your first or next rental property How to put low money down on a rental (even with an FHA or conventional loan) Three creative financing strategies that allow you to bypass the bank How to pitch seller financing as a win-win scenario for both sides How to get fast funding by tapping into the home equity from your primary residence Four ways to find the right partner for your next real estate deal And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-624 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
There are dozens of ways to make money in real estate—including some tactics that are currently flying under the radar and quietly making smart investors a ton of money in 2025. The best part? Many of them are easier to implement than you probably think, and in this episode, we’ll show you exactly what’s working in today’s market! Welcome back to the Real Estate Rookie podcast! Today, Ashley and Tony are breaking down four of the top “niche” real estate investments that are paying big in today’s tough housing market. Adopting one of these investing strategies could give you a serious edge, so whether you’re trying to pin down your strategy or already own a couple of properties, we’ve got something for you! We’ll show you how to stabilize an underperforming property and create consistent monthly cash flow with Section 8 housing, as well as how to maximize your property’s rentable square footage (and appraised value) with bedroom and bathroom conversions. We’ll even show you how to buy a rental property for much less than the average home in your market! In This Episode We Cover Four “niche” real estate investments that can make you more money in 2025 How to create consistent monthly cash flow using the Section 8 “overhang” strategy The key to buying (or building) cash-flowing rentals for less than the average home How to buy land, improve it, and flip it for a massive profit (step by step) Creative ways to stabilize your underperforming rental properties And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-623 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashely Kehr and Tony J. Robinson answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: A more beginner-friendly BRRRR method for those without six figures Strategies to lower your premiums so your insurance bills stay reasonable The “lazy” method experts use to increase rents Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-622 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Brittany Arnason bought her first rental property in a small town while making $10/hour as a waitress. She was doing everything herself—working a job by day, renovating houses at night, managing tenants in between, sleeping in her van for a few hours, and repeating. The “freedom” that real estate investing was supposed to give her wasn’t there until she stepped back and decided to scale a different way. Now, a decade later, she’s a multimillionaire with a completely passive portfolio, making more in one year than most people do in 10. Today, she shares how you can do the same—no matter how busy life feels. You might know Brittany as @investorgirlbritt on Instagram. She’s amassed an almost unparalleled following by first showing off her high-ROI DIY renovations and now, her completely passive real estate deals. In this show, she’s giving you the steps she took to leave the DIY life and enter into her best version of financial freedom. From how to delegate and focus on high-value tasks to building your team so you don’t have to do everything, plus the two investments she’s doubling down on this year that make 10x what her single-family rentals do. See Brittany live at BPCON this year and use code “STORAGEWORKSHOP” to get on the list for her exclusive session! In This Episode We Cover How to go from DIY landlord to passive real estate investor (and make more money) Two high-ROI investments Brittany is buying this year that won’t be around forever Why you must start outsourcing low-value tasks, and the first steps to start The partnership move that made Brittany wealthier than ever before Tech and tools Brittany uses to manage millions in real estate while traveling the world And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-621 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you need to buy a dozen rental properties just to break free from your nine-to-five job? Today’s guest proves that you might only need a couple. In just two years, he’s built a two-property portfolio that brings in serious cash flow and has helped him ditch the corporate grind for good. And in this episode, he’ll show you how to do the same! Welcome back to the Real Estate Rookie podcast! Dylan Pettijohn was still hustling at his W-2 job, saving every dollar for his first rental property, when an off-market real estate deal fell right in his lap and changed everything. Then, with a triplex and renovation already under his belt, Dylan went even bigger—taking down a 12-unit multifamily property that has allowed him to focus on real estate full-time! The best part? Dylan didn’t build his portfolio with a ton of money or experience. In this episode, you’ll learn about the power of real estate partnerships when scaling, the perks of having several units under one roof, and how to stay ready for when that next big opportunity comes your way. In This Episode We Cover How Dylan built a 15-unit rental portfolio in just two years The strategy that helps you raise rent without losing great tenants The pros and cons of commercial loans (and how to get one!) How to properly plan your renovation project and keep it on budget Finding real estate deals before they hit the market (pocket listings explained) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-620 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Would you rather have one property paid off worth 500k or maybe 600k in 5 leveraged properties? Is House Hacking Still Viable Without Renting by the Room? Which Is Harder: Finding Deals or Getting Financing? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-619 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Ever wondered why some people make millions from real estate investing while others barely break even? There are seven things that successful investors do differently, and they could mean the difference between just scraping by and building real, life-changing wealth. What are they? Stay tuned to find out! Welcome back to the Real Estate Rookie podcast! In this episode, we’re unpacking the seven “golden rules” of real estate investing that all rookies must know. There are bumps in the road on every investing journey, but with a little knowledge, you could dodge the most common blunders and fast-track your success. If you follow these rules, your next deal will stay on budget, bring in more cash flow, and get you one step closer to your long-term investing goals! We get into things like budgeting for your full mortgage payment and expenses, planning a value-add rehab project, best practices for screening tenants, and so much more. Whether you’re looking to buy your first rental property or stabilize your real estate business, we’ve got the tips you need to invest smarter and build lasting wealth! In This Episode We Cover The seven “golden rules” of real estate investing every rookie should follow How to properly budget for your full mortgage payment and additional costs Essential systems and software for screening tenants fairly (and legally!) Key contract deadlines you can’t afford to miss when buying a rental property How to plan a successful renovation project (and avoid losing money) Local rules and regulations you must know (no matter your investing strategy) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-618 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Many rookies get into real estate investing to pursue financial independence, and going from single-family to multifamily investing can be a cheat code for reaching your financial goals even faster. Today’s guest had a goal of 50 rental units that she was able to achieve in just four years, and in this episode, she shares how she built her real estate portfolio so quickly! Welcome back to the Real Estate Rookie podcast! Today, Jessie Dillon returns to the show to update us on her recent investments. Last time we spoke, Jessie had just closed on her fifth unit, but she has made huge strides since then—buying 33 units in the last year alone. How did she do it? Stay tuned and you’ll learn the keys to her rapid success, from the big pivot that helped her amass units faster to the real estate partnerships that have helped her buy bigger rental properties. Jessie provides a clear roadmap that can take you from square one to achieving your long-term goals—maybe in as little as a few years. The best part? You can do it without a big bank account or any of the typical landlording headaches! In This Episode We Cover How Jessie scaled from zero to 50 rental units in just four years Building your portfolio faster with multifamily real estate investing How to find great real estate deals on the multiple listings service (MLS) in 2025 Must-have systems and processes for your real estate business How to boost your buying power with real estate partnerships And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-617 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley Kehr and Tony J. Robinson answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How to access your home’s real equity before you hit the one-year mark… What to do when your short-term rental flops and mid-term sounds promising… And how to structure a seller financing deal when you’re brand new and the agents want their full cut. Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-616 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
The One Big Beautiful Bill has passed, and it could put thousands of dollars back in your pocket. In this episode, we’re breaking down how this powerful piece of legislation could help lower your tax bill and supercharge your returns, whether you’re relatively new to real estate investing or actively scaling your portfolio! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Amanda Han and Matt MacFarland from Keystone CPA, who break down the latest tax bill, what it means for rookie investors, and a few of the best tax strategies to implement. We’ll cover things like 100% bonus depreciation, cost segregation studies, and the short-term rental loophole. You’ll even learn about the extended qualified business income (QBI) deduction that benefits many Americans—including real estate investors! But that’s not all. We’ll also provide realistic examples of how a rookie can double their write-offs, the “marriage loophole” that helps couples maximize their tax savings, and the biggest (and most expensive) rookie tax mistakes to avoid at all costs! In This Episode We Cover How the One Big Beautiful Bill could more than double your tax savings in 2025 Why 100% bonus depreciation is a game-changer for real estate investors The short-term rental loophole that could help offset your W-2 income by thousands How to use a cost segregation study to accelerate property deductions The “marriage loophole” high earners use to lower their taxable income Tweaking your investing strategy to maximize your tax breaks And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-615 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you need a big bank account or extensive investing knowledge to buy a rental property? Today’s guest got started with no money down, and this first real estate deal would open the door to multiple deals and six-figure profits. How did he pull it all off? You’re about to find out! Welcome back to the Real Estate Rookie podcast! Tony Borman hit it out of the park on his first two deals. After buying his first property with $0 down and selling it for a $50,000 profit only a couple of years later, he then found and fixed a property that gave him a $92,000 tax-free payday. But then he hit a snag in his investing journey—buying a rental that lost money once property taxes spiked and going through not one, not two, but seven different contractors on his very first house flip! Despite the recent hiccups, Tony is investing for the long haul, and in this episode, you’ll learn how keeping your W-2 job can help you absorb large losses as you’re learning the ropes. Tony also shares about the difficulty of finding (and keeping) great contractors, the biggest mistakes rookies make when analyzing rental properties, and the risks every investor needs to know about before tackling home renovations! In This Episode We Cover Creative ways to buy a rental property with as little as $0 down How to fix and flip properties (while living in them) for a massive tax-free payday The investing strategy that pays your mortgage (and helps you live for free!) The many benefits of keeping your W-2 job while investing in real estate House flipping risks every rookie needs to know about before getting started The costly mistake you can’t afford to make when analyzing a rental property And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-614 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Getting a HELOC on a Rental Property with a Mortgage What should you do once you win a property from a tax lien auction How Much Time Do You Actually Spend on Real Estate Investing, and What’s a Realistic First-Year Goal? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-613 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Does flipping houses still work in 2025? Yes! Despite high interest rates, inflated material costs, and the recent shift towards a buyer’s market, this is still one of the most profitable investing strategies. Today, we’ve brought on a pair of seasoned flippers to break down the current market and what rookies need to know ahead of their first or next flip! Welcome back to the Real Estate Rookie podcast! In this episode, we’re joined by expert house flippers Henry Washington and Dominique Gunderson. They share all about the current state of house flipping—what’s changed, what could change, and how rookies and experienced investors alike can adapt to a shifting housing market. Whether you’re looking to tackle your first or hundredth flip, our experts offer all kinds of insights and timely tips that will make your next flip a successful one. Stay tuned and we’ll show you the secrets to finding and funding profitable deals, how smart investors are making the numbers work, and the three things every rookie must do before investing in a new market! In This Episode We Cover How today’s top flippers stay profitable (despite high interest rates and inflated costs) How Dominique and Henry have adjusted their investing strategy for 2025 Why conservative deal analysis is crucial during uncertain times Henry’s best tips for finding and funding off-market deals in any market Dominique’s first three steps when breaking into a new real estate market Why cutting renovation costs could actually backfire on your next flip And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-612 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What happens when you leave your career to pursue real estate investing? Once dead set on becoming a country music star, today’s guest was forced to rethink her future when the world came to a screeching halt. Thankfully, real estate was the exact pivot her young family needed, allowing her to make a huge profit on her very first real estate deal! Welcome back to the Real Estate Rookie podcast! For three years, Tori Tyler had wanted to jump into real estate, but like many newbies, information overload and analysis paralysis kept her on the sidelines. But eventually, with the guidance of a mentor and by attending networking events, she gained the confidence to take down her first deal—a house flip that pocketed her $36,000 with just three months of work! Now, Tori is completing her second flip, and in the future, she plans to use short-term rentals to offset her family’s W-2 income and give them another place to vacation. If you want to know how to pivot from your current career and become a full-time investor, Tori’s story of bold pivots and bigger payoffs might just be the spark of inspiration you need! In This Episode We Cover How Tori pocketed $36,000 on her first house flip (in just three months!) Why this budding country artist gave up her childhood dream to invest in real estate How to break free from analysis paralysis and buy your first property Funding your first real estate deal using private money and hard money Fast-tracking your investing journey with the power of mentorship and networking And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-611 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: My Property Manager Pushes Back on Bids—How Should I Handle It? BRRRR in Detroit or STR in Tampa—Which Path Builds Faster? First Rental Listed—When Should I Lower Rent? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-610 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Is 2025 the perfect time to get into real estate investing? With falling mortgage rates, favorable tax laws, and shifting real estate markets across the US, there are all kinds of opportunities for rookie investors, and in this episode, we’ll show you how to make your first or next move! Welcome back to the Real Estate Rookie podcast! The housing market is shifting fast, and today, we’re providing you with an all-in-one investing update—chock-full of actionable advice to implement before the year ends. We’ll also get into how the recent market shifts have affected our own real estate portfolios. Ashley shares the progress on her current live-in flip and why she’s self-managing her short-term rentals, while Tony shares his latest revenue numbers on his 13-unit motel investment and why he’s branching off into a new southwestern market! Whether you’re a true beginner, a seasoned investor, or somewhere in between, we’ll provide the game plan you need to get started in 2025 and a handful of tips on adapting to the current climate! In This Episode We Cover Whether you should invest in real estate in 2025 (or hold off until 2026!) How the One Big Beautiful Bill Act will affect new real estate investors Major rental pivots Ashley and Tony are making to prepare for 2026 The strategies Tony is using to stabilize his underperforming rentals Why Ashley is choosing to self-manage her short-term rental properties And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-609 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you need a high-paying job or a large savings account to break into real estate investing? You don’t! Today’s guest was delivering groceries for Instacart and mounting TVs for Geek Squad shortly before landing multiple seven-figure real estate deals, and in this episode, he’ll show YOU how to do the same—no matter your starting point! Welcome back to the Real Estate Rookie podcast! Tired of working dead-end jobs and struggling to make ends meet, Jordan Scroggins knew he had to make some major life changes if he wanted to start and support a family. He discovered BiggerPockets, absorbed as much information as he could, and then finally got his foot in the door by landing a job in real estate. Since then, Jordan has been able to take down two seven-figure properties—not with a massive bank account, but through the power of creative financing. Despite his best efforts, Jordan’s journey has been anything but smooth. Stay tuned to hear about a property lien that caused him to pass on his first deal, what he learned from a $200,000 loss on a mixed-use building, and what all rookies should know before stepping into the world of commercial real estate! In This Episode We Cover How Jordan went from earning $17.50/hour to buying multiple properties Funding seven-figure deals through the power of creative financing Building your real estate portfolio fast with commercial properties What every rookie should know before forming a real estate partnership Jordan’s biggest lessons learned after losing money on TWO properties And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-608 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: My Agent Won’t Move Fast Enough—What Do I Do? Starting a Wholesaling Business in College—Is It Too Much? My $4M Portfolio Isn’t Cash Flowing Like It Should—Now What? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-607 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you wish you could quit your job—for good? With enough rental income, you could! The very first step is to calculate your financial freedom number, and in today’s episode, we’ll show you how to do just that. Then, we’ll give you a step-by-step roadmap for reaching it! Welcome back to the Real Estate Rookie podcast! Whether you’re eager to hand in your two-week notice or dream of retiring with real estate, Tony and Ashley provide a simple blueprint any beginner can follow. By the end of this episode, you’ll know how much money you need to comfortably leave your nine-to-five job behind, how many rental units you’ll need to achieve your cash flow goals, and proven tactics you can use to build and scale your real estate portfolio. But that’s not all. You’ll learn about the different ways to tap into your home equity and buy properties faster, choosing an investing strategy that supports your lifestyle and long-term goals, and the variable expenses you’ll want to account for during real estate investment analysis! In This Episode We Cover Seven simple steps to achieving financial freedom with rentals How to calculate your “freedom number” (and then reach it!) Determining how many rental units you need to quit your W2 job How to choose the right investing strategy for your long-term goals Variable rental expenses you can’t afford to miss when analyzing deals The three main levers you can pull to buy rental properties faster Four ways to tap into your equity and scale your rental portfolio And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-606 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Real estate investing isn’t always pretty. Today’s guests had to make some serious sacrifices to buy their first investment property—living out of an RV, with a newborn, in the middle of winter. This bold move not only made them $180,000 on their first deal but also helped them snowball to five properties! Welcome back to the Real Estate Rookie podcast! Nichole and AJ Frandanisa sold their house to start investing in real estate. But not only that—they bought a rundown property and lived in an RV while doing their first live-in flip. This gave them the confidence (and the money!) to buy more properties using this same investing strategy—putting low money down, adding value, and selling renovated homes for a huge profit. They’ve already completed five real estate deals and are now moving into multifamily properties to build wealth even faster! In this episode, you’ll learn how to get your spouse on board with your real estate investing dream, as well as how to use various negotiation tactics to get a better deal—especially in this market where buyers have more leverage. You’ll also learn the secrets to building your investing network, finding top-notch contractors, and keeping great tenants! In This Episode We Cover How selling their home (and living in an RV) helped this couple snowball to five properties The powerful mindset shift that got Nichole on board with real estate investing How solving one seller’s pain point helped Nichole and AJ buy their first house hack How to put low money down and force appreciation with the live-in flip strategy Building your network through the power of investor meetups and referrals Seller concessions, escrow holdbacks, and seller invoices explained And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-605 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where HOST and HOST answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How do you break free from analysis paralysis and finally start your real estate journey? Buy-and-hold vs. flipping: Which strategy is best for rookies looking for reliable wealth? Should you cash out half a million dollars from a property to scale faster, or is holding onto equity smarter? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-604 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Rentals can give you financial freedom, but what if there’s a better way? Today’s guest took a much different path, buying a business that gave him immediate cash flow. Now, he’s building serious wealth through both business and real estate, and his strategy might just be the shortcut you’ve been looking for! Welcome back to the Real Estate Rookie podcast! Rather than putting money down on a rental property, Tim Delaney bought a small wine and liquor store—a move that gave him huge cash flow on day one, allowed him to save faster, and helped him scale his real estate portfolio beyond what would have been possible otherwise. As you’re about to hear, it also unlocked a creative deal that allowed him to buy a $1 million plaza with zero money down! Whether you feel stuck, overwhelmed, or simply unready for rentals, this episode will open your eyes to the possibilities beyond real estate. Tune in as Tim shows you how to buy a cash-flowing business for the price of a single-family home, as well as how to build your investing network, find private money lenders, and negotiate seller financing deals! In This Episode We Cover Why you should buy a business before you buy rental properties How Tim bought his first investment property with no money down The 100%-financed businesses YOU can buy, learn, and grow today What you must know before forming a real estate investing partnership The blueprint for landing rare, seller-financed real estate deals The easiest ways to build and supercharge your investing network And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-603 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Would you trade your wedding for a rental property? What if it allowed you to retire years ahead of schedule? Today’s guest saw the bigger picture, and in this episode, he’ll share how small sacrifices can yield a massive return! Welcome back to the Real Estate Rookie podcast! Rather than having the large, traditional wedding that most couples dream of, Dean Pinhas and his wife turned their wedding fund into the down payment for a home, which they would soon convert into the first of six rental properties over the next five years. And this is just one of many sacrifices the couple has made to fast-track their financial goals. Dean is so focused on achieving financial freedom that he’s intentionally absorbing negative cash flow on his properties. The catch? In less than 15 years from now, he’ll have a completely paid-off real estate portfolio that brings in $20,000/month or more in net rental income! Tune in to learn more about Dean’s unique investing strategy, how a cross-country move boosted his income (and his purchasing power!), and what YOU should do today to retire early with rentals, too! In This Episode We Cover The real way to build wealth with real estate (not cash flow!) How Dean and his wife scaled to six properties in just five years Strategic moves that boost your income and fast-track your investments How to trade your dead-end nine-to-five job for a career in real estate Why Dean is intentionally losing money on his rental properties The critical mistake to avoid when renovating any rental property And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-602 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: What are the different ways you can structure an offer on a property? Should you use an attorney for an eviction or do the process yourself? Should I pick my W2 job to align with my real estate goals? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-601 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Feel like you’re working harder than ever but have little money to show for it? Maybe it’s time to stop over-relying on your nine-to-five and start building wealth with real estate. Today, we’re breaking down why this is arguably the best and fastest path to financial freedom—and you don’t need a six-figure income to start! Welcome back to the Real Estate Rookie podcast! If you’ve ever wondered how real estate really stacks up against investing in stocks or buying a business, this is the episode for you. We’re sharing 11 reasons why real estate beats every other investment. From buying rental properties and flipping houses to wholesaling and other investing strategies, there are several ways to make a killer return on your investment! Whether you’re starting from zero or have money ready to invest, real estate gives you cash flow, tax benefits, and control over tangible assets that grow in value. We get into low- and no-money-down options, building out multiple revenue streams, the power of tenants paying down your mortgage, and so much more! In This Episode We Cover The top 11 reasons why YOU should invest in real estate Why real estate beats stocks, businesses, and other investments Several ways to buy rental properties with little to no money down Powerful real estate tax strategies that can help offset your W2 income Using forced appreciation to instantly increase a property's value Creative financing methods that allow investors to bypass the banks And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-600 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
The Real Estate Rookie podcast is where beginner investors come to learn, grow, and take action. Hosted by Ashley Kehr and Tony J. Robinson, each episode breaks down the exact steps new investors can take to find, fund, and manage their first few deals with confidence. Whether you’re still dreaming or already investing, this show will: Demystify real estate investing from the ground up Offer coaching-style advice from experienced pros Share real stories from real rookies just like you Help you avoid costly mistakes and analysis paralysis It’s the show that turns confusion into clarity—and beginners into real estate rockstars. Subscribe now and take your next step toward financial freedom. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you’ve missed your shot at real estate investing? Whether 25 or 55, you’re about to learn that it’s never too late to start. Today’s guest got started as a single mom in her 40s, and she’s already bought five rental properties in just two years. She’s not reinventing the wheel either—everything she’s doing, YOU can do, too! Welcome back to the Real Estate Rookie podcast! Liz Connelly knew she wanted to invest in real estate, but her financial house wasn’t quite in order. While raising two children, Liz grinded away at three different jobs to rapidly increase her income, pay off debts, and save for a down payment. Now, five properties later, Liz is diversified across three different markets and has built teams in each one to make managing her real estate portfolio that much easier. And she’s not done yet! Liz is still trialing different investing strategies in search of the right niche for her. You don’t need to have everything figured out either. Tune in as Liz shares why taking action today, no matter your age or marital status, is the best thing you can do for your future self! In This Episode We Cover Why it’s never too late to start investing in real estate (whether you’re 25 or 55!) The investing strategy that gives you steady cash flow with minimal upkeep The two biggest “traps” rookies fall into when investing out of state Why you must get your financial house in order before investing (and how to do it!) The real estate tax strategies that helped Liz write off $84,000 in one year How to choose the right market(s) for medium-term rental investing And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-599 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J. Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How do you value extra bedrooms when comps just don't match? Is finding a mentor really essential? And should you get your real estate license, or is it just another distraction? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-598 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Tired of long-term rentals that barely break even or short-term rentals with constant turnover? There’s a sweet spot that you’re probably overlooking. These properties deliver more cash flow than your average 12-month lease and have lower maintenance and expenses than the average Airbnb. The best part? Unlike the saturated vacation rental industry, there’s still a gaping hole in the market for these properties—medium-term rentals! Welcome back to the Real Estate Rookie podcast! Today, Jeff Hurst, CEO of Furnished Finder, joins the show to discuss one of the most underrated investing strategies right now. As you’re about to hear, there’s a growing need for 30- to 90-day stays in hundreds of markets across the US—maybe even in your own backyard. Jeff breaks down the data and the many advantages of this strategy—less competition, fewer turnovers, and a much lower barrier to entry! Whether you have an extra room to rent out or a failed vacation rental you’re looking to convert, the beauty of the “monthly rental” is that it works with a wide range of residential real estate. Stay tuned to learn how YOU can start using this emerging strategy today—without buying property in an expensive, saturated market or pouring several thousand dollars into setup! In This Episode We Cover How to start using the “monthly rental” investing strategy in 2025 Why medium-term rentals often outperform both short-term and long-term rentals Two ways to analyze a rental property (or market) for 30-day stays The best types of properties to convert into “monthly rentals” The biggest opportunities (and critical mistakes) for rookies to watch out for How to pick the perfect market for your medium-term rental property And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-597 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Most people think money is the biggest barrier to buying rental properties—it’s not! Inaction is what keeps most rookies on the sidelines. Today’s guest was making $35,000 a year and had very little money saved, yet found a way to buy his first property. Since then, he has built an 11-property rental portfolio and walked away from his W2 job. If he can do it, you can, too! Welcome back to the Real Estate Rookie podcast! With just a $35,000 salary to support himself, his wife, and a baby on the way, Matt Krueger knew he needed to make changes to forge a better future for his young family. Thankfully, his in-laws had modeled the power of real estate investing, having retired with rentals many years earlier. So, Matt took action—hunting down his first property and negotiating until he was all in for just $2,500! Feel like money is getting in the way of your first deal? It doesn’t have to! In this episode, Matt shares the “hacks” he used to lower his down payment and closing costs. He also talks about how pivoting to short-term rentals fast-tracked his financial goals and the moment he realized he could ditch his nine-to-five! In This Episode We Cover How Matt went from making $35,000 a year to quitting his job (thanks to real estate!) Little-known “hacks” that can help lower your down payment and closing costs The primary residence “mistake” that could derail your next deal The power of reinvesting your cash flow back into your rental properties Tapping into your home equity to help fund your next investment Building equity fast with low-money-down, “fixer-upper” properties How to self-manage your rental property without it becoming another full-time job And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-596 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley Kehr and Tony J Robinson answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Could a Property Manager Be Paid Based on Appreciation Instead of Revenue? How can I buy another property with high DTI and no income? Should you rent by the room if you have a family? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-595 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Stuck with an underperforming property? You may be overlooking a crucial aspect of real estate investing that isn’t talked about nearly enough—design. Whether you’re flipping houses, BRRRR-ing (buy, rehab, rent, refinance, repeat), or running an Airbnb, design can make or break a deal. Want to potentially boost your revenue by thousands? Then you won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Brianna Amigo—owner of Brianna Michele Interiors and the creative mind behind many of Tony’s investment properties. In the last few years alone, Brianna has helped design over 200 properties in markets across the US. But not only that—she’s also an investor with experience in short-term rentals, long-term rentals, flips, and more. Today, she’s sharing her best interior design tips for rookies who may be leaving thousands of dollars on the table! In this episode, Brianna shares timely tips for every investing strategy—including how much of your budget to allocate to design and how to create the perfect “experience” for your ideal guest or buyer. Along the way, you’ll learn about not only the deal-killing mistakes beginners make but also the hottest design and amenity trends that can take your property to the next level! In This Episode We Cover Why real estate design can make or break your rental property’s returns High-ROI, low-cost design upgrades that actually increase revenue The latest interior design shifts and trends that will help boost your bottom line The biggest rookie design mistakes to avoid (that could cost you thousands) How to craft the ideal “experience” for your target guest or buyer Why do-it-yourself (DIY) design could be killing your profits (and when to hire a pro!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-594 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you need to be a hands-on landlord, do your own renovations, or sacrifice time with family to invest in real estate? Think again! Today’s guest is making “passive” income and building long-term wealth with just four rentals—without swinging a hammer or fixing a single toilet. In this episode, he’ll share the secrets to a profitable real estate portfolio that virtually runs on autopilot! Welcome back to the Real Estate Rookie podcast! When Mike Buska realized his home state of New Jersey was outside his budget, he turned his attention to a Midwest market hundreds of miles from home. But rather than trying to self-manage rental properties from afar, he poured his time and resources into smart deal analysis and assembling the right team. By committing most of his spare time working on the business rather than in it, he’s been able to scale quickly to four cash-flowing rentals! In this episode, Mike will walk you through the exact steps he took to build a full-fledged real estate business in another part of the country—from picking a market and working with local lenders to creating systems and hiring a property manager you can trust to take care of the day-to-day! In This Episode We Cover Why you DON’T need to quit your nine-to-five to build a profitable rental portfolio How to choose a market that delivers a mix of long-term appreciation and cash flow Building your investing team from scratch (even in a market you’ve never visited!) Why the stability of long-term rentals beats the cash flow upside of short-term rentals Must-have systems and processes to create for each rental property The tax blunder that cut Mike’s projected cash flow in half (and how to avoid it) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-593 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Should you house hack in a high-cost-of-living area, or invest remotely to start your real estate journey? What exit strategies make sense when your flip project starts to drain your resources? Are DSCR loans a good option for first-time investors or too risky? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-592 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Wish you could get more income out of your rental property? Then we’ve got the perfect investing strategy for you in today’s episode. It gives you another income stream, instantly increases your property’s value, and according to today’s expert, it’s even easier than making renovations. We’re talking about ADUs (accessory dwelling units) and their detached counterparts, DADUs! Welcome back to the Real Estate Rookie podcast! Leka Devatha, investor and author of Return on Real Estate, has created hundreds of thousands in added value just by building ADUs and DADUs on her existing properties, and YOU can do the same. You don’t need to bring more money to the closing table or know the ins and outs of new construction. This is a strategy any rookie can follow, as long as you surround yourself with the right people! In this episode, Leka will share everything you need to know to transform regular lots and single-family homes into income-producing goldmines. You’ll learn how to identify the right markets, lots, and properties for this strategy, and how to work with your local city or county to get your new build underway. But that’s not all. Leka will even show you the easiest type of ADU any rookie investor can build and some critical mistakes to avoid! Unlock the hidden potential in every property with Leka’s guide to maximizing your real estate portfolio, Return on Real Estate! n This Episode We Cover How to transform single-family homes into high-cash-flow properties with DADUs The easiest type of ADU conversion project any rookie investor can take on Lot types to target when planning your first DADU (and which ones to avoid) Creative financing strategies to fund your purchase and DADU construction The biggest mistakes that derail new investors (and how to avoid them!) Key team members you need to streamline permitting, design, and construction And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-591 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Tired of working inflexible jobs or living paycheck to paycheck? Elizabeth Esplin’s back was against the wall when she made an all-in bet on real estate investing. Once living off food stamps, Elizabeth and her husband have been able to leave their W2 jobs and are firmly on track to achieve financial freedom—all thanks to the power of real estate! Welcome back to the Real Estate Rookie podcast! Elizabeth was caring for a toddler and pregnant with her third child when her husband’s health started to deteriorate—quickly leaving her family with a financial crisis. With bills piling up, Elizabeth turned to real estate. Although her first deal didn’t go to plan, a $2,000 lesson set the stage for a wildly successful second deal—a house flip that not only pocketed her $200,000 (with just four months of work!) but also allowed both her and her husband to trade the W2 grind for full-time real estate! In this episode, she talks about using handwritten mailers to find off-market properties, winning “probate” deals, and surviving stressful renovations. Whether you need an escape rope from your nine-to-five job or creative ways to find your next real estate deal, Elizabeth shares all kinds of helpful nuggets you won’t want to miss! In This Episode We Cover How Elizabeth flipped her first house during a family crisis (while pregnant!) The $2,000 mistake that helped Elizabeth take down a $200,000 deal How to create financial freedom through the power of real estate investing Leaving your nine-to-five job to become a full-time real estate investor Creative ways to find (and buy) more off-market properties And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-590 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Should I Subdivide, Build Single-Family, or Hold Out for Multifamily? Should I Invest in STRs I Can Use or Stick to Long-Term Rentals? Should I Cash Out My 401(k) to Buy My First Property? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-589 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Looking to buy a rental property in the next 12 months or so? The housing market is shifting fast, and today’s guest has some major insights on what’s changing in the lending space. Whether you’re actively trying to find the right loan or holding out for lower mortgage rates, you won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by mortgage expert Jeff Welgan for a masterclass on what rookies should be doing when getting a mortgage for their investment property. Jeff’s optimistic about the lending opportunities that could be on the horizon for real estate investors, but he’s also seen plenty of deal-killing mistakes. Want to make sure you get the best real estate financing? Then stay tuned! Along the way, Jeff will share his biggest lending predictions for the next year, the best types of loans to consider in 2025, and crucial advice for new investors as they’re starting their investing journey. He’ll also tell you why buying mortgage points could be a bad idea and when to start working with a lender during the property-buying process. In This Episode We Cover How to choose the right type of financing for your investment property Why you shouldn’t wait for interest rates to drop before buying your next property The best loan products investors are using today (and where to find them!) How potential rate drops could impact buyer demand and home prices How to find the best mortgage lender for your next real estate deal And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-588 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
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You can still get rich buying “boring” rental properties. Today’s guest pockets $6,800 in pure cash flow every month and is building an enormous amount of equity in four small multifamily rentals, and he’s not doing anything YOU can’t do. You don’t need a ton of money or even the flashiest investing strategy—you just need to get started and play the long game! Welcome back to the Real Estate Rookie podcast! Ryan Allsop hated paying rent—so much so that he bought his first rental property without really knowing what he was doing. But with some rookie-level analysis and savvy networking, Ryan found that first duplex, which has been his “cash cow” ever since. Then, Ryan used home equity lines of credit (HELOCs) to scale a real estate portfolio that delivers nearly $7,000 in combined monthly cash flow! Want to copy Ryan’s success? In this episode, he’ll show you the steps he took to go from complete beginner to confident investor in no time. You’ll learn about the real power behind buy and hold investing, a lucrative Airbnb side hustle you can use to fund deals faster, and a surprisingly effective way to negotiate with sellers—without ever picking up the phone! In This Episode We Cover How Ryan makes $6,800 in monthly cash flow with just four rental properties Using the buy and hold strategy and “delayed gratification” to pay your future self Scaling your real estate portfolio through home equity lines of credit (HELOCs) Critical mistakes to avoid when hiring a contractor for your renovation projects The easiest (and cheapest!) way to find off-market properties for sale Living for free by having someone else pay down your mortgage for you And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-587 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How to approach house hacking when high listing prices and rents don't align? Should you delay refinancing a BRRRR due to high interest rates? What's the best strategy when your tenant wants to break their lease early during winter? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-586 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Buying a regular rental property can provide steady, predictable income, but if you're looking for something more lucrative, we’ve got the perfect strategy for you. Today’s guest used it to build a real estate business that brings in $800,000 in annual revenue. The best part? It requires less money than you might think. Tune in to hear how he did it—and how YOU can, too! Welcome back to the Real Estate Rookie podcast! Ahead of the release of his new book, The Glamping Investor, Garrett Brown joins the show to share how you can get started with unique stays in 2025. Garrett used to buy condos in Houston, Texas, but when the market shifted, so did his investing strategy. Pivoting unlocked massive profits, and today, he owns some of his market’s top-rated glamping destinations—with nightly rates comparable to five-star hotels! In this episode, he’ll cover everything from finding “hackable” land and picking a short-term rental market to funding your projects and avoiding permitting nightmares. You won’t want to miss gems like his 60/30/10 rule for choosing a location and the secret to putting very little money down on a piece of land with endless potential! In This Episode We Cover How Garrett built an $800,000 glamping business (without a ton of money upfront) Making luxury hotel-level income with domes, a-frames, and tiny homes Land hacking explained and how to use it to scale your real estate portfolio fast How to find the right piece of land for your glamping site using the 60/30/10 rule Common permitting roadblocks glamping investors face (and how to navigate them) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-585 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Could rental properties be your ticket to financial freedom? When today’s guest realized his “secure” corporate job wasn’t quite as secure as he thought, he plunged head-first into real estate investing and hasn’t looked back. In just three years, he’s built a real estate portfolio of several no-money-down rentals. Want to repeat his success? Then stay tuned! Welcome back to the Real Estate Rookie podcast! When Joe Pozzuoli’s high-performing coworkers started being laid off one by one, he knew it was time to take control of his financial future. After trialing a few different side hustles (and even a full-fledged e-commerce business), he eventually landed on real estate. His first deal was a home run—a triplex that cost him zero dollars out of pocket and cash flows over $900 a month to this day! Joe will show you how to find similar deals, perform multi-unit rehabs, and score discounted properties on real estate auctions. But that’s not all. Joe also shares how his investing goals have shifted over time. Once hell-bent on amassing 50 units, Joe’s now focusing on a smaller number of paid-off investments. What should YOU do—build a highly-leveraged real estate empire or a low-risk portfolio? Stick around till the end for the answer! In This Episode We Cover How Joe bought his first real estate deal (with a no money down loan!) Scaling your real estate portfolio versus paying off your current properties How to find (and buy) discounted rental properties at bank auctions Flipping houses to purchase more buy-and-hold investment properties Networking to get the best referrals and build out your investing team And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-584 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Who should provide and maintain appliances in your rental What steps should you take when purchasing a tenant occupied property How to build a team for your short term rental Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-583 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Why buy an old, worn-down rental property when you can build something that’s highly profitable, low-maintenance, and tailor-made for today’s tenants? If you’re tired of the constant upkeep and costly repairs that come with regular rentals, stay tuned for an investing strategy that could be your shortcut to financial freedom—build-to-rent! Welcome back to the Real Estate Rookie podcast! Chad Carson is perhaps best known for his “small and mighty portfolio” approach, but today, he’s pulling back the curtain on the strategy he’s using to create instant equity and huge cash flow. In this episode, you’ll learn how build-to-rent investing gives you all the benefits of regular rentals, but with less competition, less maintenance, and potentially even bigger margins! Chad shares his best secrets for rookie investors—like what to look for when buying land, the key to finding and keeping contractors in any market, and how to shorten the build-to-rent learning curve by teaming up with a partner. He’ll also show you several ways to finance these projects and how to analyze them as both new builds and long-term investments! In This Episode We Cover The pros and cons of using the build-to-rent investing strategy in 2025 The three biggest advantages new builds have over regular rentals How build-to-rent properties give you instant equity and huge cash flow Networking to find the best financing terms and contractor referrals How to identify the perfect piece of land for new development And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-582 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you need a dozen rental properties to create generational wealth or retire with real estate? Today’s guest is proof that less is often more, especially if you’re not in a rush to scale your portfolio and aren’t afraid to get your hands dirty. Want his personal playbook? Then don’t go anywhere! Welcome back to the Real Estate Rookie podcast! Matthew Morneault didn’t consider himself a real estate investor when he bought his first property, a former meth house plagued with all kinds of issues. But learning how to renovate on the fly, renting the property out, and eventually selling it for a profit gave him the knowledge and confidence to go out and find his next investment. Today, he has three profitable properties—including one that brings in over $90,000 in annual revenue! As you’re about to hear, Matthew has targeted value-add opportunities with bigger margins, refinanced his mortgage at the right time, and pivoted to other investing strategies when things haven’t worked out. In this episode, he’ll show you how to build a modest portfolio that catapults you toward your investing goals! In This Episode We Cover How Matthew brings in $90,000 in annual revenue from just ONE rental property Turning a “messy” first investment into three profitable properties How to identify the best value-add opportunities for any investment property Little-known VA loan hacks you can use to grow your real estate portfolio The hidden value of building relationships with local credit unions And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-581 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Is 61 too late to start investing, and what's the best strategy to build wealth fast? Can a rookie realistically fund a high-value first flip in Miami? Should a young, high-income couple cash out or invest out-of-state due to tough local market conditions? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-580 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Tired of rentals that give you little or no cash flow? Burned out from managing multiple properties across different markets? For the entrepreneur who wants to make bigger strides toward financial freedom, today’s guest will share an investing strategy with higher upside—a scalable real estate business that gives you many income streams under one roof: hotel investments! Welcome back to the Real Estate Rookie podcast! Like many investors, Sujay Mehta started out buying single-family homes. But when he discovered the enormous cash flow potential of hotel investing, he found a few partners and scrounged up the money to buy his first hotel. The myth that you need millions to buy a Marriott or Hilton? Sujay shatters it in today’s episode and provides a step-by-step blueprint that makes finding, funding, and operating hotels much easier than you thought possible! Stay tuned as Sujay discusses the different types of hotels you can buy and points you toward the perfect first investment for any rookie who’s looking to break into the space. Along the way, you’ll learn three ways to analyze a hotel deal, some common pitfalls to avoid, and the keys to a profitable hotel business! In This Episode We Cover Why you DON’T need millions of dollars to start investing in hotels Creative financing options for new hotel investors (even with low money!) Boutique versus branded hotels (and which one rookies should invest in) Fast-tracking financial freedom with a business-plus-real estate investment Three easy ways to analyze a hotel deal (as a complete beginner) Costly operational mistakes to avoid when building your hotel business And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-579 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you lost your job today, what’s your plan B? Just eight months ago, today’s guest was laid off from his W2—newly married and with a baby on the way! Thankfully, he was able to quickly pivot to real estate investing and turn a passion into a career. Whether you’re looking to escape the nine-to-five grind or create a better safety net, we’ve got the perfect game plan for you! Welcome back to the Real Estate Rookie podcast! For years, Jason Manion had dreamed of buying, fixing, and flipping his own properties, and fortunately, he got a taste of real estate early on rather than sitting on the sidelines. His first real estate deal, a live-in flip that he also house hacked, netted him over $200,000 in profit. That early win gave Jason the confidence to pick right up with real estate after being let go from his nine-to-five job. His very next deal pulled in another $100,000! Want to learn the secrets behind Jason’s six-figure margins? He hunted down discounted properties on the multiple listing service (MLS), took his time with real estate analysis, and even found ways to save money with DIY renovations. Tune in as he walks you through his entire method, step by step! In This Episode We Cover How Jason made over $300,000 in profit on his first two real estate deals The secret to finding discounted properties on the multiple listing service (MLS) How to save thousands with DIY renovations and savvy material hacks The many benefits of using the live-in flip investing strategy How to turn your primary residence into a profitable investment property And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-578 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Tony J Robinson and Ashley Kehr answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: How do you fund your first real estate deal? Do you need a real estate license to invest? What is cap rate and why does it matter? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-577 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Inventory is up. Home prices are slipping. The housing market is shifting fast. There’s a lot of noise out there—but what does it all mean for rookie investors? Whether you’re looking for your first, second, or fifth rental property, today’s conversation will help you make sense of the latest real estate data and gain a serious edge in 2025! Welcome back to the Real Estate Rookie podcast! With more homes being listed for sale and days on market creeping higher, it looks like we’re heading towards a buyer’s market. To help break it all down, we’re joined by Dave Meyer, head of real estate investing here at BiggerPockets. Investors could have the upper hand in the months ahead, and in this episode, we’ll show you how to negotiate lower prices and concessions—all while managing your investment risk in an uncertain market. You’ll also learn where to find crucial national and local data online (for free!) and how to use it to uncover promising markets and deals—without falling into the trap of analysis paralysis. We’ll even share some of our favorite beginner-friendly investing strategies in today’s housing market—ones that we’re trying ourselves! In This Episode We Cover Why today’s housing market offers a rare window of opportunity for investors Why buyers have more negotiating power due to higher supply and days on market Must-have tools and resources Dave uses for real estate market analysis The best, low-risk investing strategies for rookie investors to adopt in 2025 The secret to beating analysis paralysis and landing your FIRST real estate deal And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-576 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: What to do when your property taxes skyrocket and threaten your cash flow. How to handle guest refund requests and negative reviews in short-term rentals. Resolving title issues after paying back a co-owner. Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-574 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Struggling to tell a cash cow from a money pit? Is the thought of a critical misstep keeping you from deal analysis altogether? Not anymore! We’re going to show you exactly how to analyze a rental property from scratch. Whether you’re looking to buy your first rental property or sharpen your skills, you won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! Today, Ashley and Tony are breaking down the entire process of analyzing rentals, step by step. First, you’ll need to pin down your investing goals and buy box. Then, we’ll show you which real estate metrics actually matter when crunching the numbers and how to find each of them. We’ll also equip you with several tools and resources that will do the heavy lifting for you, allowing you to analyze deals faster and find that first deal MUCH sooner! Whatever your investing strategy—house hacking, flipping, or short-term rentals—this process will give you the confidence to make savvy investing decisions going forward. Stick around till the end for a challenge that will give you hands-on deal analysis experience and an exclusive giveaway that could fast-track your investing journey! In This Episode We Cover How to analyze a rental property, step by step (even as a complete beginner) The crucial first step you need to take before analyzing any real estate deals The hidden rental property expenses that could derail your investment Which deal analysis metrics matter most (and the fastest ways to find them) Dangerous pitfalls to avoid when estimating a property’s rental income And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-574 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
One messy, imperfect, low-cash-flow rental property could change your life forever, but maybe not in the way you’d think. No one retires off ONE property, but that first property can provide the education, mindset, and momentum to fuel your second, third, and fourth deals. Today, we’re breaking down our first real estate deals—the ups, the downs, and mistakes we made that YOU should avoid! Welcome back to the Real Estate Rookie podcast! In this episode, we’re winding back the clock and sharing how we got started in real estate. While Ashley invested in her own backyard and found a partner to help fund the deal, Tony invested out of state and managed renovations remotely. You’ll hear how we stabilized the properties, rented them out, and, eventually, sold them for a big payday! Whether you’re new to the world of real estate investing or struggling to take action, this episode has something for you. We’ll share why finding your first deal is more important than finding the “perfect” deal, how to use real estate partnerships to fast-track your investing journey, and what we’d do differently if we were starting over today! In This Episode We Cover How Ashley and Tony found and funded their first real estate deals The secret to managing a successful renovation project from afar Creative ways to buy your first rental property with little money out of pocket How to use the power of partnerships to scale your real estate portfolio Why we ended up selling our first properties (and how much we made!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-573 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
He had no money, no experience, and no idea how to renovate a house... but he still pulled off two real estate deals by 22. Welcome back to the Real Estate Rookie podcast! Today’s guest, Steele Evangelisti, shares how he went from a 16-year-old stock dabbler to a full-time W2 employee buying a duplex right out of college. With just a 5% down conventional loan, $3K in seller assist, and pure hustle, Steele pulled off a house hack/live-in flip hybrid that came with a leaky roof, an electrical nightmare, and a totaled car…all within the first month. But he didn’t stop there. Steele saved aggressively, moved back in with his parents, and six months later had enough to buy property #2 using the same creative financing tactics. Whether you’re looking to buy your first property or scale without big money, Steele’s blueprint is proof that you don’t need perfect timing or deep pockets to get started. In This Episode We Cover: Buying your first property with just 5% down and seller assist How to handle costly surprises like leaks, bad wiring, and tenant turnovers Using YouTube (and now AI!) to self-renovate without experience Saving $30K fast, even on a starter salary How to confidently push past fear and analysis paralysis And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to invest in real estate but fear you don’t have the time or energy? You DON’T need to quit your day job to build a cash-flowing real estate portfolio, and today’s guest is proof. In just two years, he scaled to six rentals (12 units) while holding down his nine-to-five—all thanks to a strategy that stretches your money further than you thought possible! Welcome back to the Real Estate Rookie podcast! After immigrating to the US, Hoai Nguyen took the traditional path of college, career, marriage, and children. But when he realized he’d be stuck in the rat race until normal retirement age, he went looking for a better way to build wealth—and found it in real estate. Starting with just $40,000, he used the BRRRR method (buy, rehab, rent, refinance, repeat) to buy six rental properties in only two years! Despite Hoai’s rapid success, the journey hasn’t been easy. In fact, his first few properties gave him his fair share of headaches, from leaks to lawsuits. But by taking action, learning through experience, and staying consistent, he gained the confidence to keep buying rental properties. Tune in and he’ll show you how to do the same! In This Episode We Cover How Hoai built a 12-unit portfolio in just two years (while working a full-time job) How to find overlooked real estate deals on the multiple listing service (MLS) The secret to getting your spouse on board with your investing goals Scaling fast with the BRRRR strategy (buy, rehab, rent, refinance, repeat) Common investing mistakes that will cost you time and money (and how to avoid them!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-572 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to another Rookie Reply, where Ashley Kehr and Tony J Robinson answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: What real estate investing strategy should an investor start with in today's market? How much money do you actually need for your first deal? What happens if your property is cash flow negative, and how to pivot? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-571 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Money—it’s the number one thing that keeps new investors from buying a rental property. Maybe you’ve got your market and buy box figured out, but the finances? Not so much. But not to worry—today, we’ve brought a personal finance expert on to help with these common challenges. Whether you’re starting from zero or already working hard to build a financial foundation, this episode is for you! Welcome back to the Real Estate Rookie podcast! Amberly Grant, fellow real estate investor and co-host of the BiggerPockets Money podcast, joins the show to share her own personal finance tips for someone who’s looking to break into real estate investing. Whether you’re deep in debt or struggling to save, Amberly has been in your shoes and provides a clear blueprint anyone can use to get from point A to buying a rental in record time. Along the way, we’ll point out some financial red flags that could be keeping you broke and show you how to break free. We’ll also share with you how to create an anti-budget that makes saving easy, the best place to stash your real estate funds, and creative ways to increase your income so you can throw even more money at that first down payment! In This Episode We Cover How to save for your first rental property—even if you’re starting from scratch Simple steps you can take today to get your financial house in order The financial red flags that could be keeping you broke (and how to break free) Creating an anti-budget that fast-tracks saving for a down payment How to diversify your investment portfolio (beyond real estate!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-570 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You DON’T need a huge network, online presence, or social media following to invest in real estate. This small-town investor got started the old-fashioned way—picking up the phone and pounding the pavement—which helped him scale his real estate portfolio to 25 rental units in just five years. Want his personal playbook? Then stay tuned! Welcome back to the Real Estate Rookie podcast! When the University of Minnesota Crookston dropped its football program, former offensive coordinator Jared Hottle didn’t know where to turn. After moving back to his home state of Iowa in search of his next career move, a friend introduced him to BiggerPockets. Jared caught the real estate bug, became a licensed agent, and started driving for dollars. It wasn’t long before he had closed on not one but two duplexes—in the same week! Since then, Jared has scaled to 25 rental units in just a few years. What’s more? He’s done it without a big personal brand, social media presence, or podcast, and prefers to hustle offline and host his own local meetups. In this episode, he’ll share why real estate investing is a “contact sport,” how to use partnerships to grow your portfolio faster, and when to pivot to another investing strategy! In This Episode We Cover How Jared built a real estate portfolio with 25 rental units in just FIVE years How to find off-market deals using the driving for dollars strategy Estoppel agreements explained (and why you NEED one when inheriting tenants) How to build your investing network without a strong online presence The secret to a successful real estate partnership (and how to structure one!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-569 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Should you use retirement funds to buy rentals, pay for renovations, or scale your real estate portfolio faster? Saving for a down payment can be tough, and dipping into a retirement account might seem like a tempting shortcut. But is it worth paying the hefty penalty? We’re breaking it all down on today’s episode! Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. First, what do you do when a tenant wants to end their lease before it even starts? There are several factors to consider, from your state’s landlord-tenant laws to additional turnover costs, but we’ll steer you in the right direction. Next, we’ll hear from an investor who’s considering withdrawing funds from their Roth IRA before retirement age to build their portfolio faster. Is it worth it? We’ll crunch the numbers and find out! Finally, where should you list your short-term rentals online, and how do you prevent your property from getting double-booked? As our resident short-term rental expert, Tony has the answer, and it’s much simpler than you might think! Looking to invest? Need answers? Ask your question here! In This Episode We Cover Whether you should use retirement accounts to buy more rentals The real cost of withdrawing from your Roth IRA before retirement age What to do when a tenant unexpectedly backs out before their lease begins Where to list your short-term rentals online (and how to avoid double-booking!) The best property management software for your Airbnb business And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-568 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Is 2025 a scary time to invest in real estate or your biggest opportunity yet? Whether you’re scaling back or doubling down, this episode is your survival guide for today’s shifting market. Ashley and Tony are sharing the pivots they’re making to shore up their rental portfolios and grow their wealth faster! Welcome back to the Real Estate Rookie podcast! When your portfolio no longer aligns with your investing goals, it’s time to make changes. That’s exactly what Ashley and Tony are doing in 2025—tweaking their investing strategies, offloading unprofitable properties, and trimming the fat from their businesses to create more cash flow. Stay tuned and we’ll show you how to do the same! This year, Tony is rolling out new, high-ROI amenities across all of his short-term rentals, while Ashley is BRRRR-ing (buy, rehab, rent, refinance, repeat) her primary residence and preparing the property she plans to one day turn into her dream home. Stick around till the end to hear about our new investments outside of real estate—from index funds to tech startups and more! In This Episode We Cover The biggest rental portfolio pivots Ashley and Tony are making this year Adapting your short-term rental strategy for an oversaturated Airbnb market Why reinvesting in your portfolio often beats buying more rental properties The high-ROI Airbnb amenities that will make your properties stand out How to instantly boost your cash flow by cutting unnecessary business expenses When to SELL an underperforming property (and where to invest the money!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-567 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you tethered to your W2 job as your main (or only) source of income? What if it disappeared tomorrow? After a huge wake-up call, today’s guest realized he needed to take control of his financial future as soon as possible. In just two years, he scaled to 10 rentals that bring in a whopping $6,000 in monthly cash flow…and he’s not done yet! Welcome back to the Real Estate Rookie podcast! Lorenzo Decaria thought his 18-year software engineering career was stable until his employer started making cuts. With his family’s finances in jeopardy and no backup plan, Lorenzo decided it was time to become self-sufficient. After a friend introduced him to real estate investing, Lorenzo committed all of his time and energy (and savings!) to buying rental properties, and in just two years, he has built a real estate portfolio that brings in $6,000 a month. The best part? His ultimate goal—achieving financial freedom—is within reach! In this episode, Lorenzo shares the secret to his rapid success—using the BRRRR method (buy, rehab, rent, refinance, repeat) and reinvesting his profits back into his portfolio! You’ll also hear about the pitfalls of hiring shady contractors, the pros and cons of Section 8 investing, and how to maximize your cash flow by stabilizing your properties! In This Episode We Cover How Lorenzo built a 10-property rental portfolio in just TWO years Scaling fast with the BRRRR method (buy, rehab, rent, refinance, repeat) How to use real estate to achieve financial freedom and leave your nine-to-five The keys to managing contractors, renovations, and evictions remotely The pros and cons of Section 8 investing (and why this strategy could change in 2025!) How to increase your cash flow by stabilizing your rental properties And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-566 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
The economic landscape is shifting fast. With tariffs driving up material costs, does the BRRRR (buy, rehab, rent, refinance, repeat) method still work? In this episode, we’ll share some creative tips and tricks that will help keep your renovation projects on budget and make the numbers work in any market! Welcome to another Rookie Reply! Today, Ashley and guest co-host Garrett Brown are answering more of your recent questions. First, we’ll hear from an investor who is looking to buy in their favorite short-term rental market. But is the area too expensive for their budget? Should they look elsewhere? We’ll show them how to find the right data, crunch the numbers, and pick the perfect market for them! Then, we’ll tackle tariffs, their impact on rehab projects, and what YOU can do to get material costs under control. Finally, what do you do when a seller tries to raise the purchase price days before closing—even after a signed purchase agreement? We’ll break down your legal options, negotiation tactics, and what to watch for so you don’t lose thousands at the closing table. Looking to invest? Need answers? Ask your question here! In This Episode We Cover Keeping your renovation projects on budget despite high material costs How to BRRRR (buy, rehab, rent, refinance, repeat) in 2025 How to pick the perfect short-term rental market to invest in What to do when a seller tries to raise your purchase price before closing Escalation clauses explained (and potential pitfalls to avoid) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-565 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Which rental renovations give you the biggest bang for your buck, turning a few thousand dollars of materials and labor into hundreds of more dollars of rent per month and tens of thousands more in home value? Today, we’re going through each tier of rental renovations: easy and cheap ($5,000 or under), moderately challenging and expensive ($25,000 – $50,000), and hard/pro-level ($50,000+). This will give you a roadmap of high-ROI rental renovations you can make right now to increase your property’s value and rent. Why are these rental renovations (AKA value-add) so important right now? Because with so many investors and homebuyers sitting out of the market, you can take your pick of homes with overlooked potential and turn them into high-value investment properties. This not only makes tenants happier due to new renovations and upgrades but also gets you higher rents and wealth-building equity to boot. We’ll start with some easy ones—painting, tiling, adding backsplashes, etc.—and work our way up to the pro-level renovations like adding square footage and turning a single-family home into a multifamily. Based on your experience, you can go either route, but both have enormous potential to turn your initial investment into a killer real estate deal. In This Episode We Cover: How to increase your property’s value (and rents) with high-ROI rental renovations The easiest (and cheapest) upgrades to make that take little time What to look for when buying a home for “value-add” and signs of money-making potential The one appliance you should NEVER include in your rental property The easy bathroom conversion that will massively boost your home’s equity Pro-level rental renovations that could make you six figures And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-564 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Many rookies assume they’re years away from buying rentals, but what if your first (or next) property is much closer (and easier) than you think? Today’s guest devised a detailed plan that took him from having no real estate experience to closing on his first rental property in just ONE year. Tune in to learn the tactics he used and how YOU can copy his success! Welcome back to the Real Estate Rookie podcast! Aaron Mann was tired of renting, hopping from apartment to apartment, and paying someone else’s mortgage. Once his wife convinced him that homeownership was not just a dream but very achievable, they curbed their spending and saved aggressively. But that’s not all. Aaron also launched a few creative side hustles that boosted their income, accelerated their down payment saving, and helped them buy their new home sooner than expected! The best part? Now they’re using the house hacking strategy to help cover their mortgage payment. Whether you’re actively saving for a home or need an inspirational nudge to get started, this episode has something for you. Aaron shares the “MOAT” method that helps him find side hustles worth scaling, how to negotiate with sellers, and more! In This Episode We Cover How to buy your FIRST rental property (much faster than you think!) Fast-tracking your property down payment with wildly creative side hustles Having others pay down your mortgage through house hacking Maximizing your monthly rents with the rent-by-the-room strategy How to discover scalable side hustles using Aaron’s “MOAT” method And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-563 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Home prices are seeing some serious cuts—but is this happening across all markets, and what does it mean for new investors? For many beginners, this could be the perfect time to buy a rental property, and in this episode, we’ll share what YOU can do to take advantage of a shifting housing market! Welcome to another Rookie Reply! Today, we’re back with more questions from the BiggerPockets Forums, and first, we’ll hear from an investor who has noticed sharp price cuts in major markets. Should all real estate investors jump at this window of opportunity, or is this a market-specific trend? Ashley and Tony will share their game plan for those looking to buy! Next, we’ll hear from an investor who owns two properties. The kicker? They can’t afford them! Should they sell or pivot to another investing strategy? We have a few creative ideas that could help them make money off their primary residence and get back in the green. Finally, what should you do with a bad property inspection report? Move forward with the deal or walk away? Stick around to find out! Looking to invest? Need answers? Ask your question here! In This Episode We Cover The markets where home prices are dropping (and what YOU should do) How rookie investors can find HUGE opportunity in a “buyer’s” market Three ways to make money off your primary residence (no rentals needed!) What to do when you can no longer afford your rental property Increasing your monthly cash flow with the rent-by-the-room strategy When to have the seller make repairs versus asking for concessions And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-562 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you really need an LLC for rentals? What about a trust? What kind of insurance should you get? With so many questions (and confusion) surrounding asset protection for real estate investors, we’ve brought on an expert to set the record straight so you can protect your assets—without going overboard or breaking the bank! Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with real estate attorney and fellow investor Bonnie Galam about the nuances of asset protection. The truth is that there are two sides to this coin, but most investors only focus on the defensive or “reactive” side. Bonnie will show you the keys to 360-degree protection—like setting up strong legal structures before problems arise and the essential documentation you should have from day one. You’ll also learn about the potential pitfalls of equity partnerships, how personal events can put your properties at risk, and why car insurance and prenups matter more for your portfolio than you might think. Asset protection doesn’t have to be complicated, but it does need to be strategic, and this episode will help you prioritize what’s important now, what can wait, and how to create a legal framework that evolves as your real estate portfolio grows! In This Episode We Cover Two sides of asset protection to focus on when starting a real estate business Three actionable steps new investors can take to protect their assets today Why you need to create an estate plan (even if you don’t have rentals yet!) How much you should expect to pay for different types of legal protection Debt versus equity partnerships (and why one is better for asset protection) Revocable and irrevocable trusts explained (and which one you need) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-561 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Could rentals help YOU achieve financial independence and even retire early? That’s the goal for today’s guest, who, despite growing up with very little, is now building wealth with real estate. In just three years, she has already scaled to 10 properties…and counting! Welcome back to the Real Estate Rookie podcast! After discovering the FIRE movement (financial independence, retire early), Lindsay Barrientos decided that real estate investing would be the lifeline from her high-stress W2 job. In just three years, this healthcare professional has already scaled her real estate portfolio to 10 rentals and is on track to leave her job in the coming years—all thanks to a combination of hard work, out-of-state investing, and creative financing. These “home run” deals include a $135,000 property that cash flows over $500 a month and a $79,000 property that recently appraised for over $150,000! In this episode, Lindsay will share the strategies that helped her find high-cash-flow, off-market deals beyond her backyard. Along the way, you’ll learn how to build your network, scale faster through the BRRRR method (buy, rehab, rent, refinance, repeat), and unlock seller finance deals that allow you to put low money down on investment properties! In This Episode We Cover: How Lindsay grew her portfolio to 10 rental properties in just three years Scaling fast with the BRRRR method (buy, rehab, rent, refinance, repeat) Creating MORE cash flow through the power of out-of-state investing How to lower your living expenses with the house hacking strategy The three keys to finding seller finance deals (even as a beginner!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram Lindsay’s Instagram Earn Passive Income by Investing in Shares of Rental Properties with Realbricks Grow Your Network at BPCON2025 in Las Vegas, Nevada Grab the Book, “Buy, Rehab, Rent, Refinance, Repeat” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area What Is the BRRRR Method & How to Use It to Invest in Real Estate Connect with Lindsay Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-560 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Need more money to buy your first (or next) rental property? The right real estate side hustle could help you learn the industry AND pocket some extra change to put toward your next investment. In this episode, we reveal a low-cost real estate business that nets $4,000 a month. Don’t believe us? Tony’s done it himself, and he’ll show you how to get started! Welcome to another Rookie Reply! Today, we’re answering questions from the BiggerPockets Forums and Real Estate Rookie Facebook group, and to kick things off, we’ll hear from an investor who’s tired of house hacking. What’s the best way to transition to another investing strategy without sacrificing the killer cash flow that renting by the room provides? We’ll share our favorite pivots! Next, we’ll discuss buying mortgage points, a strategy that could help you save money and create more monthly cash flow—IF you plan to keep the property for the long haul. And finally, launching a side hustle is a great way to break into real estate, learn the industry, and make more money to buy rentals. We’ll share an overlooked Airbnb business that has very low startup costs yet could net you $4,000 per month! Looking to invest? Need answers? Ask your question here! In This Episode We Cover How to make an extra $4,000 a month with an “overlooked” side hustle The pros and cons of the house hacking and rent-by-the-room strategies Telltale signs it’s time to pivot to a different investing strategy Mortgage points explained (and whether they’re worth the cost) Crucial systems and processes for managing short-term rentals And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-559 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you dream of ditching your nine-to-five and living off rentals full-time? Today’s guests did more than dream—they engineered their exit from corporate America and built a $10,000,000 rental portfolio in just FOUR years. And the best part? They did it without a ton of money and without swinging a single hammer! Welcome back to the Real Estate Rookie podcast! Niti Jamdar and Palak Shah spent 15 years climbing the corporate ladder before realizing they weren’t really building wealth. So, they set a clear goal—to leave their W2 jobs in just five years with real estate. They ended up crushing that goal, building a multimillion-dollar portfolio in just four years! If you want to scale your real estate portfolio fast, there’s arguably no better investing strategy than the BRRRR method (buy, rehab, rent, refinance, repeat), which allows you to continuously tap into your equity to buy more rental properties. In this episode, Niti and Palak will share their “SCALE” framework, step by step, which simplifies this strategy so that even the greenest investor can understand it! In This Episode We Cover: How Niti and Palak built a $10,000,000 portfolio in just four years Growing your real estate portfolio faster with the “SCALE” framework How to create time, location, and financial freedom with real estate investing Tips and tricks for managing a successful rehab project from start to finish Leveraging commercial financing to scale faster than you thought possible Boosting rents with high-ROI renovations and tenant-friendly finishes And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram Niti & Palak’s Instagram Grab Niti and Palak’s Book The Investor Accelerator Baselane: Automate your real estate finances with banking and AI-powered bookkeeping. Claim your $100 bonus! Catch Niti and Palak at BPCON2025 in Las Vegas Grab Niti and Palak’s Book, “Accelerate Your Real Estate” Sign Up for the Real Estate Rookie Newsletter Property Manager Finder What Is the BRRRR Method & How to Use It to Invest in Real Estate Connect with Niti Connect with Palak Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-558 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What would you do with $8,500 in monthly cash flow? Quit your W2 job? Travel the world? Reinvest it? The possibilities are endless, and by blending investing strategies and getting creative when hunting for deals, today’s guest was able to “snowball” to $8,500/month with 10 rental units in just a few years! Welcome back to the Real Estate Rookie podcast! In this episode, we’re chatting with Kelsey Porter, a real estate agent who caught the investing bug when a client introduced her to BiggerPockets. While most new investors focus on one strategy, Kelsey has tried a little bit of everything—house hacking, live-in flips, and short, medium, and long-term rentals. She has even rented out her primary residence for months at a time, a move that fully funded her wedding! With “smedium”-term rentals, unique experiences, and even a Taylor Swift-themed Airbnb—which features a full-blown scavenger hunt—Kelsey has built a highly diversified real estate portfolio. Stay tuned to learn about Kelsey’s strategy for finding off-market deals and the “all-in-one” mortgage she used to tap into her home equity and scale fast! In This Episode We Cover: How Kelsey makes $8,500 in monthly cash flow from just 10 rental units Blending investing strategies to maximize your rental cash flow Tapping into home equity with the “all-in-one” mortgage How to land more off-market real estate deals with strategic lead nurturing How to diversify (and lower your risk) within your real estate portfolio And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram Earn Passive Income by Investing in Shares of Rental Properties with Realbricks Grab the Book “Start with Strategy” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Which Real Estate Investing Strategy Is Best for Your Goals? Connect with Kelsey Kelsey’s Instagram Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-557 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Is money getting in the way of you and your first (or next) rental property? You’re not alone! This is perhaps the most common pain point for new investors. Fortunately, we have some game-changing tips to help you get financing for rental properties—even if you don’t have a high-paying job or perfect credit score! Welcome to another Rookie Reply! Today’s first question is from a student looking to purchase their first house hack. They’re not sure if they’ll be able to qualify for a mortgage based on their current income and job history, but we’ll provide some actionable steps to help them reach their end goal as soon as possible. Next, we’ll hear from an investor who’s looking to tap into their home equity and fund their next rental property. The catch? If they refinance, their new interest rate will jump up by 5%. Is the investment worth it? We’ll weigh the pros and cons. To wrap up, we’ll tackle some common landlording problems—high utility bills, tenant headaches, and more! In This Episode We Cover Common money problems new investors face (and how to overcome them) How to find the best financing terms for your rental properties Several ways to tap into your home equity (and fund your next property) The pros and cons of cash-out refinancing at a higher interest rate Keeping your utility costs under control and managing difficult tenants And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-556 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What if you could create multiple income streams and live for “free” with just ONE rental? Today, we’ll show you why a small multifamily property is still one of the best investments you can make and how buying one in 2025 could catapult you toward financial freedom! Welcome back to the Real Estate Rookie podcast! With less competition than both single-family homes and large multifamily properties, small multifamily is the “sweet spot” for investors looking to break into real estate and buy their first rental property. Ashley started her investing journey with a duplex and still believes this is the best investing strategy for rookies today. In this episode, she will show you how to find and buy your first small multifamily property, step by step! Along the way, you’ll learn everything from developing your buy box and analyzing rental properties to getting the best financing terms with the house hacking strategy. But that’s not all. Once you have your property under contract, you’ll need to know how to find and manage tenants, so we’ll share the biggest (and most common) multifamily management mistakes to avoid! In This Episode We Cover How Ashley would invest in small multifamily if she were starting in 2025 House hacking to get low-money-down financing and live for “free” The investing strategy that gives you cash flow, appreciation, and tax-free gains The two biggest multifamily management mistakes (and how to avoid them) Why it’s easier to scale with small multifamily rentals than single-family homes And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-555 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Growing to $8,000 in monthly cash flow and 35 rental units—all while working a W2 job?! Just two years ago, today’s guest knew nothing about real estate investing. But he found a deal and brought it to someone with money, and this single move launched his investing journey. Want to do the same, starting from zero? Then you don’t want to miss this one! Welcome back to the Real Estate Rookie podcast! Luke Tetreault was miserable at his W2 job. When he had finally reached his breaking point, he decided to take a swing at real estate—and at first, it wasn’t pretty. Without any investing knowledge or experience, Luke found his first property on Facebook Marketplace and didn’t even have the money to close it himself. So, he reached out to an old contact, who ended up funding the deal. Over time, he grew his network until he had contractors and private money lenders for all his deals! He started with a single-family home, but his most recent deal? An 18-unit mobile home park he bought with creative financing. Stick around as Luke teaches you how to find off-market deals no one’s looking for, use your everyday hobbies to build out your investing team, and scale your portfolio starting with little to no cash! In This Episode We Cover How Luke scaled to $8,000 in monthly cash flow and 35 units (in TWO years) Boosting your cash flow by pivoting to another investing strategy Buying an 18-unit mobile home park with zero money out of pocket Creative ways to find off-market real estate deals at a deep discount Two signs you’re ready to leave your W2 job for real estate investing Leveraging your own hobbies and passions to build your investing team And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-554 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Finding the right rental property isn’t easy. It needs to fit your budget and buy box, and if you’re house hacking, you’ll want to buy in a neighborhood you’re comfortable living in. These are just a few of many roadblocks rookies face, but we’re going to show you how to thread the needle in today’s episode! Welcome to another Rookie Reply! We’re back with more questions from the BiggerPockets Forums and the Real Estate Rookie YouTube channel, and first up, we’ll hear from an investor who is struggling to find a property that checks all the right boxes. Should they settle for what they can afford or save up for something better? Should they shop around for different types of financing? Stay tuned to find out! We’ll also hear from an investor who wants to use the home equity from their first rental property to help buy their next one. Should they get a HELOC (home equity line of credit), use a cash-out refinance, or sell their property? We’ll weigh the pros and cons and help them make the smartest move. Finally, if you own rentals for long enough, you’re bound to have friction with neighbors. We’ll show you how to defuse tension and build rapport! Looking to invest? Need answers? Ask your question here! In This Episode We Cover The biggest hurdles new investors face when buying their first rental property Settling for the property you can afford versus saving for something better Narrowing down the right neighborhood for your first house hack Three ways to tap into the equity you’ve built up in your property How to find the right financing for your first real estate deal The best ways to respond to neighbor complaints (that build rapport) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-553 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
A traditional rental property gives you one stream of income, but what if you could multiply that cash flow by two, three, four, or more times? You’re about to get a masterclass on the co-living strategy, and to help break it all down, we brought on someone who not only quit their job with this model but also wrote the book on it! Welcome back to the Real Estate Rookie podcast! Co-living is making waves in 2025, but it’s not just a fleeting trend or gimmick. This is an investing strategy with real staying power, and you’re about to find out why. Today, we’re joined by Miller McSwain, a nuclear rocket scientist turned real estate investor and author of the brand-new book, Co-Living Cash Flow. Miller’s six-property portfolio brings in a whopping $8,000 in monthly cash flow, which has allowed him to quit his nine-to-five and focus on real estate full-time! In this episode, Miller will tell you everything you need to know about co-living—including how to pick your market, analyze properties, and convert unused square footage into rentable space. He’ll also provide some potentially property-saving tips, like how to reduce turnover and keep renters living in harmony! In This Episode We Cover The secrets Miller used to scale to six properties and $8,000 in monthly cash flow Everything you need to know before using the co-living strategy in 2025 Three ways to determine whether a new strategy will work in your market How to make more income by converting unused space into extra rooms Why co-living has staying power and will likely avoid an Airbnb-like “crackdown” The keys to happy renters, longer leases, and minimal tenant turnover And So Much More! Links Mentioned in the Show BiggerPockets Agent Finder BiggerPockets Calculators Real Estate Rookie 486 - Quitting His Job with Real Estate After Cracking the Cash Flow Code w/Miller McSwain Miller’s Room Rent Calculator Miller’s Instagram Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-552 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to leave your nine-to-five for a “job” that gives you more time, flexibility, and potentially more money? Rentals could be your golden ticket to financial freedom. After tragedy turned her world upside down, today’s guest went all in on real estate investing. Just ONE year later, she makes $13,000 in monthly cash flow and has waved her W2 goodbye! Welcome back to the Real Estate Rookie podcast! Shortly after buying her first rental property, Allison Craft lost her brother in a tragic accident. With a new perspective on life, she decided to chase after what she valued most—more time with her young family. With just one short-term rental and a new co-hosting business, she now brings in more income than she ever did at her corporate finance job of 10 years! In this episode, Allison shares how she bought, renovated, and furnished her first rental property with limited cash and launched a real estate business that cash flows close to $10,000 a month. If you want to do the same—build a profitable business without owning rentals—stay tuned because Allison has the secrets to finding clients and scaling fast! In This Episode We Cover: How Allison scaled to $13,000 in monthly cash flow (in just ONE year) Building a profitable real estate business from scratch (step by step) How to make money in real estate without owning rental property When to quit your W2 job and go “all in” on real estate investing Fast-tracking your investing journey with networking and mentorship And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram BiggerPockets Agent Finder BiggerStays YouTube Channel Garrett’s Instagram Allison’s Website Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-551 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Great cash flow is hard to come by in this market, but fortunately, there’s a strategy that can help you maximize your property’s rentable space and profits. In this episode, we’ll show you how to convert your own rental property for co-living or renting-by-the-room! Welcome to another Rookie Reply! Tony and guest co-host Garrett Brown are diving back into the BiggerPockets Forums, and first up, we have a question about one of 2025’s up-and-coming strategies—co-living. This rookie investor wants to maximize the amount of cash flow their property can earn, so we’ll steer them in the right direction with the best arrangement and profitable value-add ideas! Then, we’ll hear from an investor who already has their investing strategy and financing lined up but can’t decide where to invest. We’ll share some crucial market analysis advice and some potentially property-saving tips for managing their rental from afar. Stick around till the end for a question we’ve never been “axed” before, which involves a dangerous short-term rental amenity and potential lawsuit! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Boosting your cash flow with the co-living and rent-by-the-room strategies Value-add renovations that create more rentable space on your property The three keys to a profitable out-of-state investing operation How to properly analyze a market for short-term rentals Must-avoid Airbnb amenities that could get you into legal trouble And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram BiggerPockets Agent Finder BiggerStays YouTube Channel AirDNA PriceLabs Breezeway Garrett’s Instagram Pre-Order the Book, “Co-Living Cash Flow” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Real Estate Rookie 447 - Making $300K+ Profit Per Rental and Scaling FAST with “DADUs” Connect with Garrett Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-550 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you bought and held 10 rental properties—each being paid down by tenants—imagine where you would be 10, 20, or 30 years from now. Financially free? Retired? Today’s guest isn’t worried about cash flow or making a quick buck. He’s using a proven, repeatable formula to build wealth with real estate, and in this episode, he’ll show YOU how to mirror his success! Welcome back to the Real Estate Rookie podcast! Zach Stanley went from selling printers to buying a pair of rentals without really knowing what he was getting into. Now, at just 28 years old, Zach already has 10 properties to his name and over $1 million in total equity. The cherry on top? He brings in $3,500 in monthly cash flow, even though he’s playing “the long game” with his investments. This allows him to reinvest his profits, save for down payments, and scale his real estate portfolio faster! In today’s episode, Zach will show you how to find great real estate deals with “conservative” analysis and share the number one mistake new investors make when looking for properties. You’ll also learn why appreciation beats cash flow, especially if you want to scale quickly and build long-term wealth! In This Episode We Cover: How Zach scaled to 10 rental properties and over $1 million in equity Reinvesting your cash flow to build your real estate portfolio faster The massive advantage you gain by teaming up with an investor-friendly agent The rookie’s biggest “blind spot” when analyzing real estate deals Why a sales job can help prime you for real estate investing success And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram Automate your real estate finances with banking and AI-powered bookkeeping. Claim your $100 bonus! Grab the Book, “Pillars of Wealth” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Real Estate Rookie 537 - BUILD, Don’t Buy: The Rookie-Friendly Investing Strategy with 6-Figure Upside Connect with Zach BiggerPockets Agent Finder BiggerPockets Calculators Zach’s Instagram Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-549 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Making $65,000 in yearly cash flow from three rental properties?! Today’s guests are on a mission to create generational wealth, and they’re doing it with an investing strategy YOU can use to scale your real estate portfolio fast, too—small multifamily properties! Welcome back to the Real Estate Rookie podcast! Daniel and Rebeca Hawthorne didn’t come from money, but they’re looking to reverse that trend and give their family a much better life. In just FIVE years, they have built a small multifamily portfolio of 32 rental units. How did they do it? In this episode, they’ll share how they leveraged home equity to buy their first, second, AND third rental property! Of course, it hasn’t all been smooth sailing. Daniel and Rebeca have had a few tenant horror stories, including one that involves a fraudulent caretaker and over $30,000 in property damage. But despite all the hurdles and growing pains, they’re building massive wealth by amassing units and slowly converting long-term rentals into medium-term rentals for higher cash flow. Stay tuned to hear their full story from childhood poverty to financial freedom! In This Episode We Cover How Daniel and Rebeca scaled to 32 rental units in just FIVE years The blueprint to create generational wealth with small multifamily real estate Leveraging your home equity to fund investment property down payments How to defer capital gain taxes on your property sale with a 1031 exchange Freeing up your time, energy, and ability to scale by hiring a property manager And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-548 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You’ve got some money. You’ve got your strategy. You’ve even analyzed a bunch of rentals. But you still can’t find real estate deals that cash flow. What gives? Today, we’re going to share three things YOU can do to turn more “okay” deals into great deals! Welcome to another Rookie Reply! We’re back with more questions from the BiggerPockets Forums, the best place to ask your questions and get top-notch advice from other investors. First, it can be disheartening to analyze rental properties and come up dry, but we’ve got a few simple adjustments that could change your fortune. We’ll also hear from an investor who’s worried about an appraisal that could break their deal and show them how to use it to their advantage instead! Finally, we’ll share the number one investing strategy all newbies should be paying attention to in 2025. This is a low-risk way for any beginner to break into real estate investing. The best part? It can be seriously profitable! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Three things you can do to find real estate deals that cash flow The number one thing new investors get wrong when analyzing properties Getting an even better deal by using an appraisal to negotiate with sellers The “hottest” investing strategy beginners need to pay attention to in 2025 How to “soup up” your cash flow with co-living and rent-by-the-room And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram BiggerPockets Agent Finder BiggerPockets Calculators Real Estate Rookie 195 - Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Ask Your Question for a Future Rookie Reply Grab the Book “Real Estate by the Numbers” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Real Estate Rookie 265 - Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-547 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Could rentals give YOU financial freedom? Today’s guest took a giant leap of faith to invest in real estate, and it allowed her to quit her low-paying W2 job in just five years. If you’ve yet to take the first step in your investing journey, this rags-to-riches story will inspire you to get off the sidelines and into the game! Welcome back to the Real Estate Rookie podcast! Earning just $28,000 a year as a lab tech and struggling to pay rent on a property she didn’t even own, Deandra McDonald was determined to buy a house and enjoy the long-term benefits of owning real estate. But when her lender told her she couldn’t qualify for a mortgage, Deandra did what so many aspiring investors are unwilling to do—she cut out ALL unnecessary spending to pay off her debts, rebuild her credit, and save for a down payment. In just 18 months, she was able to buy her first house—all while working the same low-paying job! And that’s just the beginning of Deandra’s story. After realizing that renting out a room in her new home could cover her mortgage payment, she caught the multifamily investing bug. Fast forward to today, and Deandra has built a multimillion-dollar real estate portfolio. Tune in to find out exactly how she did it and how you can copy her success! In This Episode We Cover The investing strategy that helped Deandra to quit her W2 job in just five years How Deandra bought her first property while making just $28,000 a year Fast-tracking your down payment by cutting unnecessary expenses Leveraging your current properties to grow your real estate portfolio The secrets to self-managing your properties (and keeping tenants happy!) How to seamlessly pivot from single-family homes to multifamily investments And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-546 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Seeing investors with hundreds of rental units can be intimidating, but you DON’T need a massive real estate portfolio to achieve your financial goals. As you’re about to hear, buying just one rental property could allow you to live rent-free and put you on the path toward financial independence! Welcome back to the Real Estate Rookie podcast! From a young age, Ronny Heredia knew he wanted to achieve financial independence, but there had to be a better way than grinding away at a W2 job for 40-plus years. Naturally, he started investing in stocks, but before long, his curiosity had led him to real estate investing. He consumed as much information as he could, saved up some money for a down payment, and purchased his first property—a “luxury” house hack that covers his entire mortgage payment each month! Now, Ronny has (good) problems on his hands. Should he pay off his mortgage or buy more rentals? We’ll explore all his options in today’s episode. But that’s not all. Ronny will also share some of the real estate investing hacks he’s picked up along the way—like the easiest way to raise rent (and keep your tenants happy) and how to use 100%-free AI tools to find the best real estate deals in your market! In This Episode We Cover: Fast-tracking financial independence with a “small and mighty” portfolio Paying off your first property versus scaling your real estate portfolio How to eliminate your mortgage payment with the house hacking strategy The easiest way to negotiate rent increases with your tenants How to use AI to find “hidden gem” properties that other investors overlook And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram Real Estate Rookie 429 - The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, & Deals Real Estate Rookie 47 - 0 to 7 Deals in a Year Using Other People’s Money with Andres Bernal Ronny’s Instagram Browse AI ChatGPT Manage Your Rental with RentRedi! Collect Mobile Rent Payments, Find Qualified Renters, and Manage Accounting and Maintenance from Anywhere! Buy the Book, “The Small and Mighty Real Estate Investor” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Real Estate Rookie 463 - The “Lazy” Landlord’s Guide to Finding (And Keeping) Tenants & Raising Rents Connect with Ronny Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-545 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you have around $25,000 saved? Good news—you can invest in real estate! There are several ways to get started, but which investing strategy reigns supreme? We’ll show you how to get the best bang for your buck so you can buy your next investment even faster! Welcome to another Rookie Reply! We went back into the BiggerPockets Forums and Real Estate Rookie Facebook group and found more investing questions from beginners just like you. Today’s first question comes from an investor who’s struggling to pick a market. Should they hone in on a single area, or will scouring multiple markets speed up their search for the perfect deal? You might be surprised to hear where Ashley and Tony land on this one! Then, we’ll hear from an investor who has saved $25,000 to put towards their first rental property. Like many rookies, they’re looking to scale their real estate portfolio fast, so we’ll share our favorite strategies for doing just that—including a few outside-the-box ideas. Finally, how do you vet a co-signer when screening tenants? We’ll show you how to cover all your bases! Looking to invest? Need answers? Ask your question here! In This Episode We Cover How to start investing in real estate with just $25,000 (or less) The best ways to put low (or no) money down on a rental property How to pick the right market to invest in (and when to pick multiple!) The key to finding more real estate deals with a “narrow” buy box How to properly vet a co-signer for your new tenant’s lease And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-544 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Have high interest rates and home prices affected your ability to buy cash-flowing real estate deals? If you’re struggling to find properties that pencil out, you don’t want to miss this episode. If there’s anyone who can teach you how to find great deals, even in this housing market, it’s today’s guest. He wrote the book on it! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by fellow investor, On the Market co-host, and author of Real Estate Deal Maker, Henry Washington. Given today’s difficult market conditions, is Henry pivoting to another investing strategy? Nope! He’s sticking to “boring,” single-family and multifamily properties that he either rents out to tenants or flips for a profit. But he is changing how he analyzes deals, and he’ll show YOU how to do the same in today’s episode! Stay tuned if you want to know how to buy your first or next rental property in 2025. Henry will show you the four-step approach he uses to find undervalued deals today and how to buy discounted properties from builders looking to move old inventory. But that’s not all. You’ll also learn how to fund these deals using small local banks, retirement accounts, and other people’s money (OPM)! In This Episode We Cover: The four-step “shotgun” approach to finding real estate deals in today’s market Why the way you analyze deals must evolve (even if your strategy doesn’t!) Creative ways to source “undervalued,” off-market real estate deals in any market How to fund your next property by leveraging your retirement accounts Buying discounted properties from builders looking to “offload” inventory How to get your spouse on board with your real estate investing goals And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Follow Real Estate Rookie on Instagram Henry’s Instagram Grab Henry’s Book, “Real Estate Deal Maker” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders 5 Ways to Find Off-Market Real Estate Deals Like a Pro (00:00) Intro (00:45) Breaking Into Real Estate (03:18) Funding His First Deal (08:48) Analyzing Deals in THIS Market (12:48) “Conservative” Underwriting 101 (22:18) How to Find Deals TODAY (29:57) Getting a Spouse on Board (37:34) Connect with Henry! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-543 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Making $6,000 in monthly cash flow from just four rentals?! Given the current housing market, it seems impossible, but today’s guest is about to show you the secrets to building a profitable real estate portfolio. There are opportunities out there—you just need to know where to look! While many beginners hope to one day earn enough rental income to quit their W2 jobs, Jamie Banks did the reverse—leaving her job to go all-in on real estate investing. This risky move paid off, as in just two years, she has already built a portfolio with enough income to replace her salary. She started out co-hosting, and while this strategy helped her learn the ropes of residential investing, it wasn’t going to help her build wealth. So, she turned her attention to buying rental properties instead—using her superpower, networking, to find private money lenders who could help fund her deals! Jamie’s journey hasn’t been all smooth sailing. She has heard “no” more times than she can count, tried several investing strategies, and bought a property that barely breaks even. But despite the setbacks, she has always found a way to learn and grow. And Jamie isn’t taking her foot off the gas any time soon. Stay tuned to hear how she plans to scale to $10,000 in monthly cash flow and break into commercial real estate! In This Episode We Cover How Jamie scaled to $6,000 in monthly cash flow in just TWO years The secret to finding “unlimited” money to fund your real estate deals Two strategies you can use to make money before you buy rental properties Using “inside information” to uncover the next up-and-coming markets How to pin down the perfect investing strategy for your long-term goals Getting a mix of stability and high cash flow with medium-term rentals And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-542 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Many “experts” say you need a real estate LLC once you buy a rental property, but are they right? They also say you need money and great credit to invest in real estate, but we know of other creative ways to get started. Stick around to learn how! Welcome back to another Rookie Reply! Ashley and Tony have pulled more of your recent questions from the BiggerPockets Forums, and today’s first question comes from an investor who just bought their first rental property. Do they need to set up a limited liability company (LLC) right off the bat, or can they hold off until they grow their real estate portfolio? We’ll show them the best ways to protect their personal assets! We’ll also hear from an investor who wants to get into house hacking. The only problem? They live in an expensive market, and the deal they’re looking at doesn’t pencil out. Could pivoting to another investing strategy make it profitable? Finally, a lack of money keeps many beginners from breaking into real estate, but it doesn’t have to. We’ll share some creative ways to kickstart your investing journey if you don’t have a ton of money or credit! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Whether you need a limited liability company (LLC) for your first rental property The differences between umbrella policies and LLCs (and which one YOU need) How to create more cash flow from a house hack (even in a pricey market!) How to start your real estate investing journey without much money or great credit Learning the industry and making extra money with real estate side hustles And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook The Millionaire Next Door The Psychology of Money Build Your Investing Network at BPCON2025 in Las Vegas, Nevada Ask Your Question for a Future Rookie Reply Grab “The Book on Investing in Real Estate with No (and Low) Money Down” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Real Estate Rookie 105 - Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself Real Estate Rookie 106 - Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert (00:00) Intro (00:31) Do You NEED an LLC? (06:32) House Hacking in a Pricy Market (13:50) Investing Without Money or Credit (23:56) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-541 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
So, you want to invest in real estate…but where should you start? What’s the best type of rental property for a beginner? It’s easy to become overwhelmed by all the options, but in this episode, we’ll provide the four-step framework you need to make the right choice! Welcome back to the Real Estate Rookie podcast! First, we’ll share four steps that will help you pin down the right investing strategy for your budget, lifestyle, and long-term goals. Then, we’ll introduce you to a few of the most beginner-friendly types of rental properties. Are you light on cash? House hacking could help you take down your first investment property with relatively little money out of pocket. Are you looking to scale your real estate portfolio as quickly as possible? The BRRRR method (buy, rehab, rent, refinance, repeat) is one of the fastest ways to build wealth in real estate. Would you prefer your real estate investments to be mostly hands-off? Perhaps a long-term rental is more your speed. Stick around till the end to learn about the three most common mistakes we see new investors make and what YOU must do to avoid them! In This Episode We Cover: The four BEST types of rental properties for new investors The four-step formula for choosing the right investing strategy Creative ways to get into real estate investing when you’re light on cash The secret to scaling your real estate portfolio quickly (without a ton of money) Three common rookie investing mistakes (and how to avoid them!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Monarch Money RealBricks Buy the Book, “Start with Strategy” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Which Real Estate Investing Strategy Is Best for Your Goals? (00:00) Intro (01:05) Step 1. Define Your Goals (03:44) Step 2. Determine Your Involvement (07:32) Step 3. Assess Your Finances (13:04) Step 4. Know Your Market (15:49) House Hacking (17:24) The BRRRR Strategy (22:12) Short-Term Rentals (25:20) Long-Term Rentals (29:51) Analysis Paralysis (32:25) Shiny Object Syndrome (35:22) Taking Bad Advice Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-540 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want the time-tested investing strategy that will make you rich 10, 20, or 30 years from now? Despite market uncertainty, buying rentals is still a savvy move if you’re playing the long game. That’s what today’s guest is doing—using a mix of steady cash flow and appreciation to reach financial freedom! Welcome back to the Real Estate Rookie podcast! After a bad experience with a financial advisor, Anthony Finger decided to take control of his investments. He started with everyone’s favorite “boring” investment, index funds, and before long, he had brought his slow and steady approach over to real estate—buying seven long-term rentals over seven years. Today, his real estate portfolio brings in $2,400 in monthly cash flow, and Anthony has already built up over $600,000 in total equity! The conservative approach might not be as “sexy” as Airbnb or as exciting as flipping houses, but it’s a surefire way to build wealth with real estate. Tune in as Anthony shares the perks of investing in your own backyard, the benefits of buying turnkey rentals, and the secret to buying new construction at a discount! In This Episode We Cover: How Anthony scaled “slowly” to seven properties in seven years “Safe” investments that will put you on the path to financial freedom Building a stable portfolio with low-maintenance, turnkey rental properties How to achieve a mix of equity and cash flow in THIS housing market The benefits of investing in your own backyard (and when to look elsewhere!) The crucial mindset shift you need to succeed in real estate And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook BiggerPockets Calculators Rent to Retirement Anthony's Instagram Get Your Tickets to BPCON2025 in Las Vegas, Nevada Grab “The Book on Rental Property Investing” Sign Up for the Real Estate Rookie Newsletter Property Manager Finder Real Estate Rookie 123 - “Building” Wealth as a 24-Year-Old with 12 New Construction Projects Connect with Anthony (00:00) Intro (00:51) Buying His First Rental (05:30) Crucial Mindset Shift (09:34) Anthony’s Portfolio (14:45) Tough Lessons Learned (21:44) Scaling “Slowly” (28:25) Cash Flow AND Equity (35:09) Connect with Anthony! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-539 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Anyone can analyze a rental property, but if you’re not careful, it’s easy to overlook significant costs that wipe out your cash flow and put you in the red. Thankfully, we’ve got some timely tips that will help you avoid these critical mistakes! Welcome to another Rookie Reply! Ashley and Tony are back with more questions from the BiggerPockets Forums and BiggerPockets Facebook groups. Worried that your “good” real estate deal might not be a good deal after all? We’ll show you some of the things you must account for before you buy! Next, we’ll discuss the ins and outs of real estate partnerships. Whose name should go on the mortgage? How do you ensure that both parties own the property? We have the answers! Finally, how do you make an offer on a property you haven’t seen? What if you receive a low appraisal? We’ll show you how to find “boots on the ground” in any market, renegotiate with the seller, and close on your property for a great price! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Costs you must account for when analyzing a rental property The biggest pros and cons of turnkey real estate investing How to properly budget for capital expenditures, maintenance, and repairs Why you need a five-year exit plan when structuring a partnership How to find “boots on the ground” when investing out of state Renegotiating with the seller after receiving a low appraisal And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook BiggerPockets Calculators Grab Our Book, “Real Estate Partnerships” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders Real Estate Rookie 326 - The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals (00:00) Intro (00:18) Good or Bad Deal? (07:31) Structuring Partnerships (17:32) Making Offers (Out of State!) (28:25) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-538 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
A single-family home could give you some extra cash flow, but what if there was a way to make six-figure returns from “rentals” that breathe new life into your town? Today, we’ll share a rookie-friendly investing strategy that allows you to do just that, all while using very little (if any) of your own money! Welcome back to the Real Estate Rookie podcast! Katie Neason is a big believer in “investing where you’re invested” and has built a real estate business that allows her to make huge returns while revitalizing her hometown of Bryan, Texas. Unlike normal real estate development, which involves new construction on raw land, redevelopment is the process of taking an area that was previously built on and giving it a new purpose. The best part about redevelopment? Your city might actually want you to do it—meaning you could get all kinds of grants and tax breaks to bring your vision to life! In this episode, Katie will give you a detailed walkthrough of her most recent deal, show you the perfect “gateway” redevelopment project for a new investor (step by step), and teach you how to get started with this strategy using other people’s money (OPM)! In This Episode We Cover: Redevelopment explained (and why it’s even better than new development) Making huge returns and revitalizing neighborhoods with the new BRRRR strategy The perfect “gateway” project into redevelopment for new investors How to fund a redevelopment project with little to no money A step-by-step walkthrough of Katie’s most recent redevelopment deal How to determine whether your town or city is “developer-friendly” And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Build-to-Sell Calculator Katie’s Instagram Start Earning Passive Income from Rental Properties with Realbricks Grab the Book, “Raising Private Capital” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders Urban Redevelopment & How to Capitalize on a Profitable Trend Katie's BiggerPockets Profile (00:00) Intro (00:59) What Is “Redevelopment”? (04:57) The “Gateway” Into Redevelopment (07:06) Next Steps for Rookies (16:13) How to Fund Your Project (21:41) Katie’s Most Recent Deal (30:55) 4 Tips for New Investors (34:32) Connect with Katie! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-537 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Think you can’t create cash flow in this housing market? Think again! Today’s guest will introduce you to a strategy that can take a regular rental property and maximize its profits. It’s allowed him to net $5,000 each month and quit his W2 job in just 18 months! Welcome back to the Real Estate Rookie podcast! Just two years ago, Andres Martinez was waiting tables and saving every penny possible for a house. But when he was told he still couldn’t qualify for a mortgage, he turned his attention to wholesaling in order to learn more about real estate investing and make some extra money. Little did he know that he would soon stumble upon a strategy that would change his life and give him financial freedom—co-living! After buying a couple of properties, Andres quit his job to go all-in on this strategy. This move paid off, as he’s been able to scale his real estate portfolio to five properties (soon to be six!) and over $5,000 in monthly cash flow. The best part? He’s been able to buy all of his properties using other people’s money (OPM), seller financing, and subject to deals. Stick around as Andres tells you all about his buy box, how he analyzes rental properties, and why co-living might just be the next big thing in 2025! In This Episode We Cover: Making $5,000 in monthly cash flow from five rental properties How Andres was able to quit his W2 job in 18 months with real estate The investing strategy that maximizes your rental property’s profits Why co-living presents a huge opportunity for investors in 2025 and beyond The best real estate side hustles to fast-track your investing journey And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook PadSplit Andres’ Instagram Buy the Book, “Wealth Without Cash” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders Co-Living Units Are Helping Investors Generate Higher Returns—Here’s What You Need to Know Connect with Andres (00:00) Intro (00:33) Hustling for a House (07:33) Co-Living 101 (11:40) “Testing” His Strategy (17:51) Andres’ Current Portfolio (24:29) How to Find Properties (27:32) Quitting His W2 Job (31:25) $5,000 Monthly Cash Flow! (32:12) Connect with Andres! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-536 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Is it time to SELL your rental property? Not so fast! Bad cash flow isn’t the end of the world if you’re banking on appreciation, and there are several ways to increase your cash flow. But certain problems aren’t worth the headaches, and in this episode, we’ll share some telltale signs that you should sell! Welcome back to another Rookie Reply! Today’s first question comes from a new investor who’s looking to go from buying beginner-friendly, turnkey properties to scaling with the BRRRR method (buy, rehab, rent, refinance, repeat). Is this a doable next step or should they stick with what’s been working? We’ll show you why this investing strategy isn’t as intimidating as it might seem! Next, we’ll discuss what you should do if your property is bleeding money. At what point should you move on? Maybe you’ve already decided to cash out but are struggling to sell your investment property. We’ll show you how to move that stubborn listing! Looking to invest? Need answers? Ask your question here! In This Episode We Cover Signs you should SELL your rental property (and when to hold instead) Properly analyzing rental properties so you DON’T get stuck with a bad investment How to use the BRRRR method to scale your real estate portfolio Earning semi-passive income with turnkey rentals How to choose the right real estate investing strategy for YOU Creative strategies for moving an old listing that has been sitting on the market And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-535 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Tired of spending your money on rent or stashing it in a traditional savings account? You could make your money work harder for you and get on the path to financial freedom with real estate investing. Today, we’re going to show you exactly how to buy your first rental property in 2025, step by step! Despite rising home prices and high interest rates, now is an ideal time for new investors to buy real estate, as they face less competition and have even more leverage. So, in this episode, Ashley and Tony are going to show you seven steps that will get you off the sidelines and into the game! First, we’ll help you lay a foundation for investing. You’ll not only need to get your financial house in order but also set clear investing goals, determine your purchasing power, and choose your investing strategy. You’ll also learn how to do things like find a lender, choose your market, and assemble your investing team. Then, we’ll start looking at deals! We’ll share how to build your buy box, analyze properties, and negotiate with sellers. Most importantly, we’ll teach you the right way to build your business so that you succeed today AND as you scale your real estate portfolio! In This Episode We Cover: How to buy your first rental property in 2025 (step by step) Why NOW is the perfect time for new investors to get into real estate The three things you must do before buying an investment property How to create your “buy box” and start analyzing rental properties The value of building relationships with small, local banks and credit unions Must-have systems and processes for your real estate business And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook The Rookie’s Cheat Sheet for Market Research (Find Where to Invest in 2024) Real Estate Investing Resources Property Buy Box Worksheet How to Financially Prepare to Buy Your First Rental Property (7 Steps) Follow Real Estate Rookie on Instagram Pick Up Ashley’s Book “Real Estate Rookie” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Real Estate Rookie 523 - The “Secret Sauce” for Buying Rental Properties BELOW Market Value (00:00) Intro (00:36) Why Real Estate? (04:49) Step 1. Lay the Foundation (09:25) Step 2. Talk to a Lender (11:27) Step 3. Choose Your Market (14:59) Step 4. Build Out Your Team (18:49) Step 5. Create Your Buy Box (25:03) Step 6. Make an Offer (31:53) Step 7. Prepare for Closing (33:56) Find Your NEXT Deal! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-534 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you stuck with a problematic property? What if you could create thousands of dollars in monthly cash flow just by pivoting to the right investing strategy for your property and market? That’s exactly what today’s guest did, and if you stick around, she’ll show you how to repeat her success! Welcome back to the Real Estate Rookie podcast! Aleea Stanton’s grandparents gave up their home to put her through college, so after graduating from law school, she saved up and bought them a house. Little did she know that this would ignite a passion for real estate investing and home renovation projects. Before long, Aleea had gone on to fix and flip eight houses—averaging $40,000 in profit per home—and even pocketed a whopping $200,000 on her most recent flip! Despite the huge profit margins she earned with this lucrative strategy, Aleea decided to diversify her real estate portfolio with buy-and-hold investing. Now, she brings in an additional $3,000 in consistent monthly cash flow, all thanks to a combination of long-term and medium-term rentals. Tune in as Aleea shares her biggest successes and several critical mistakes to avoid! In This Episode We Cover: Making thousands in monthly cash flow by pivoting to another investing strategy Why diversification is one of the most powerful tools in a difficult housing market The number one thing that will make or break your renovation projects Why you should always order your own home inspection (even if you waive one) Creative ways to find off-market real estate deals in a competitive market And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Buy the Book “Start with Strategy” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Which Real Estate Investing Strategy Is Best for Your Goals? (00:00) Intro (00:35) Buying Her First House (05:35) Flipping 8 Houses! (08:12) Pivoting to Long-Term Rentals (16:58) Finding Great MLS Deals (28:20) Mid-Term Rentals & Off-Market Deals (31:49) Connect with Aleea! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-533 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Should you STOP buying rentals? How do you structure a seller financing deal? Can you invest out of state without a property manager? Whether you’re looking to improve your cash flow or buy a property without the bank, there’s something for you in today’s Rookie Reply! Our first question comes from an investor who is looking at a potential seller financing opportunity. Should they make multiple offers? How should they structure terms? Tune in to hear the tips Ashley and Tony have used to get low-money-down seller financing in the past! Next, we’ll hear from an investor whose real estate portfolio is barely breaking even. We’ll discuss whether they should stop buying rentals, but we’ll also dive into their assets and see if there’s an even easier (and more passive) way to build wealth with real estate! Finally, is there a cost-effective way to manage your properties from afar while still having boots on the ground to handle things like showings and move-in inspections? Ashley has some outside-the-box ideas you could try! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: How to reach your real estate investing goals without buying more rentals How to pitch seller financing (and negotiate terms) when buying property Whether you should make multiple offers on the same property (and how to do it) Building wealth through passive real estate investing opportunities How to leverage your retirement accounts to invest in real estate How to manage rental properties when investing out of state And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook PropStream Buy the Book “Start with Strategy” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Which Real Estate Investing Strategy Is Best for Your Goals? (00:00) Intro (00:32) Seller Financing 101 (11:14) STOP Buying Rentals? (21:50) Managing Rentals from Afar (24:20) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-532 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you want to know how to invest in real estate in 2025, even if you earn an average salary, you’re in the right place. In this episode, we’re going to break down the exact steps YOU can take to buy your first or next rental property—yes, even in today’s tough housing market! Welcome back to the Real Estate Rookie podcast! Today, Ashley, Tony, and investor Luke Carl are going to share how they would invest in real estate in 2025 if they were starting from scratch. We’ll look at today’s housing market from the perspective of someone who earns an average salary of $75,000 or less and share our favorite strategies, property types, and loans for a beginner. Stay tuned to learn why Ashley recommends forming a partnership for your first real estate deal, why Tony loves the NACA mortgage, and why Luke likes to target properties that need a little love. We’ll also share our top tips for new investors—from getting a mentor and building rapport with lenders to avoiding “shiny object syndrome” and fast-tracking your savings for a bigger down payment! In This Episode We Cover: How to invest in today’s market with an average salary ($75,000 or less) Creative ways to put low (or no) money down on an investment property The best real estate investing strategies for a new investor Whether you should pay off debt before investing in real estate Managing your own rentals versus hiring a property management company And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook NACA Luke’s Website Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Grab the Book “Smarter Short-Term Rentals” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders Real Estate Investing for Beginners: How to Get Started Connect with Luke (00:00) Intro (00:57) First Steps for Rookies (07:44) Building a Financial Foundation (11:40) Getting Preapproved (16:35) Best Property Types (23:04) Finding the Deal (29:38) Paying Off Debt vs. Investing (33:29) Advice for New Investors (36:16) Connect with Luke! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-531 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
These two college teammates built a sizable real estate portfolio in just three years by using what they call the “delayed BRRRR strategy.” They’ve used this specific real estate investing tactic (and the regular BRRRR strategy) to turn one duplex into more than a dozen rental properties for their portfolio. They didn’t start with a ton of money and only got into investing together in 2021 when housing competition was high, and rates were soon to rise sharply. So, how does their strategy work, and how can YOU use it to buy more rental properties? In this episode, these innovative investors, Joe Escamilla and Sam Farman, talk about why it’s CRUCIAL to have great real estate investing partners and how choosing the right one can be the rocket fuel you need to build a financial freedom-enabling rental property portfolio. They share the new “BRRRR” strategy (buy, rehab, rent, refinance, repeat) they’re using to get steady real estate cash flow AND boost their equity at the same time. We’ll also talk about raising private capital and creating your own real estate syndication so you can buy more real estate using other people’s money and pass along the returns to your investors. Joe and Sam have built a real estate portfolio most investors can only dream of achieving, and they did it all in only three years, during high rates, and while working full-time jobs. Stick around to hear how you can do it, too! In This Episode We Cover: The new-and-improved “BRRRR” strategy that lets you “recycle” your money Signs of a perfect real estate partner and why getting this right is CRUCIAL for growth Cash-out refinancing to reinvest in real estate and grow your portfolio faster Why you DON’T want to sit on the sidelines while rates are high and competition is low Syndications and how to raise money for your next real estate deal And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Rich Dad Poor Dad Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations Grab the Book on the “BRRRR” Strategy Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders The Beginner’s Guide to “Infinite Investing” with the BRRRR Method Connect with Joe Connect with Sam Connect with Dave (00:00) Intro (01:01) The Perfect Partnership? (03:35) First Duplex in 2021 (11:09) This Works WITH High Rates (15:56) Using Other People’s Money (29:59) The New 2025 “BRRRR” Strategy (27:51) Who Does What? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-530 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Where should YOU invest in 2025? Stay tuned because we’re going to share our top seven real estate markets for buying rental properties this year. We’ll tell you why we like them, why they’re growing, and whether it’s worth moving there to invest! Welcome back to another Rookie Reply! Today, Ashley and guest cohost Garrett Brown are answering recent questions from new investors just like you. Do you feel behind in your real estate investing journey compared to other investors? You can’t believe everything you see on social media, BUT if you have big plans to grow your real estate portfolio, we’ll show you some of the secrets to scaling! Next, we’ll dive into our favorite markets in 2025. Whether you’re investing in long-term rentals or short-term rentals, we have beginner-friendly options for all strategies. Finally, we’ll break down a real estate deal an investor is working on and steer them in the right direction! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: The top seven real estate markets we’re investing in this year The secret to scaling your real estate portfolio (without a ton of money!) How to buy an investment property without a 25% down payment Discovering profitable short-term rentals using the 20% revenue rule Why stabilizing your properties is more important than buying more Why you should always choose your investing strategy before buying property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook BiggerPockets Rental Property Calculator BiggerPockets Market Analysis Template BiggerPockets Top Investment Housing Markets for 2025 BiggerPockets Buy Box Checklist BiggerPockets How to Pick a Short-Term Rental Market Guide BiggerStays YouTube Channel AirDNA Navigate The 2025 Tax Season with an Investor-Friendly Tax Expert Ask Your Question for a Future Rookie Reply Grab the Book “Smarter Short-Term Rentals” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders Real Estate Rookie 473 - Moving 1,500 Miles Away to Buy His First Rental with Just $25,000 Connect with Garrett (00:00) Intro (00:38) The Secret to Scaling (12:12) 7 Best Real Estate Markets (23:37) Property Analysis 101 (32:59) Connect with Garrett! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-529 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
There are all kinds of “hidden” real estate deals floating around, and if you take action in this housing market, you could beat everyone else to them—even if you’re new to real estate investing. Today’s guest used this tactic to buy 250 rental units in just FIVE years, and she’s about to share it with you! Welcome back to the Real Estate Rookie podcast! Off the back of her new book, Smarter Short-Term Rentals, Avery Carl joins the show to teach YOU how to find “hidden” deals that turn into profitable vacation rentals. If you look closely, real estate listings are riddled with errors that could help you buy a rental property well below market value. A few of these properties could give you financial freedom, and in this episode, Avery will show you exactly which “clues” to look for! You’ll also learn how to choose an Airbnb market and why investing in a saturated area is a better bet than trailblazing in an unproven market. But that’s not all. Avery will shed light on “over-amenitization” and show you how to make your short-term rental pop with smart furniture and décor choices instead! In This Episode We Cover: Why the 2025 housing market is the perfect playground for new investors The biggest opportunities and challenges new investors face in 2025 Listing “clues” that could tip you off to an undervalued property Creative ways to make your short-term rental stand out in any market The number one mistake investors make when analyzing a rental property Telltale signs that it’s time to sell your investment property The BEST Airbnb markets to invest in right now (and which ones to avoid!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook AirDNA PriceLabs Rabbu Buy Avery’s New Book “Smarter Short-Term Rentals" Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Real Estate Rookie 429 - The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, & Deals Connect with Avery (00:00) Intro (00:43) Making “Low” Offers (04:18) Common Listing “Clues” (08:28) Picking Airbnb Markets (17:19) How to Stand Out (22:38) When to Exit a Property (28:47) Markets to Avoid (32:34) BEST Markets in 2025 (34:43) Connect with Avery! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-528 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you want to get into real estate but fear you’re too late to the party? This middle-aged, middle-class couple thought so, too. Instead, they discovered a strategy that helped them fast-track their financial goals, bringing them to six rental properties and over $75,000 in annual cash flow! Welcome back to the Real Estate Rookie podcast! Brianne and Doug Hamilton didn’t want to rely on their W2 jobs for their financial security, so like many, they turned to real estate investing. In just a few years, they have scaled to six properties and built two real estate businesses. They’re on the path to financial independence, even though they started in their late 30s. If they can do it, YOU can, too! As you’re about to hear, Brianne and Doug have done it all. They’ve launched vacation rentals. They’ve bought properties with other people’s money (OPM). They’ve even cohosted and managed properties for other investors. But their secret to snowballing one rental property into six? The BRRRR method (buy, rehab, rent, refinance, repeat). Stick around to learn more about this strategy and copy the Hamiltons’ success, no matter what stage of life you’re in! In This Episode We Cover: Snowballing to six properties and over $75,000 in annual cash flow Scaling with the BRRRR method (buy, rehab, rent, refinance, repeat) The power of networking when you’re just starting your investing journey Choosing an investing strategy that aligns with your goals, skills, and passions How to buy a rental property using other people’s money (OPM) Tips and tricks for increasing your short-term rental bookings And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook Brianne & Doug’s Instagram Buy the Book “Buy, Rehab, Rent, Refinance, Repeat” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders What Is the BRRRR Method & How to Use It to Invest in Real Estate Connect with Brianne (00:00) Intro (00:45) Why Real Estate Investing? (03:36) Buying the First Property (08:52) “Diversifying” with Vacation Rentals (16:31) Using Other People’s Money (22:08) How to Increase Bookings (31:10) Brianne & Doug’s Portfolio (34:35) Connect with Brianne & Doug! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-527 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Should you invest in real estate or stocks in 2025? What if you DON’T have to choose? Today, we’ll share how you can have the best of both worlds with strategies you’ve probably never heard about! Welcome back to another Rookie Reply! Today, Ashley and guest cohost Mindy Jensen are answering more of your recent questions. First, what’s the best way to build credit so you can qualify for a mortgage? We’ll debate the legitimacy of credit repair companies and provide some crucial tips for raising your credit score. Next, we’ll not only settle the real estate versus stocks debate but also show you some of the best ways to invest in both! Finally, sometimes deals go south, but this is why you need to have multiple investing strategies up your sleeve. We’ll get creative and help an investor get out of a sticky situation! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Whether you should invest in real estate or the stock market in 2025 Leveraging your brokerage and retirement accounts to buy a rental property The five factors that make up your credit score (and steps to improve them!) The BEST financing options for those with less-than-perfect credit Why you must have multiple exit strategies for your investment property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Get Your Financial House in Order with an Investor-Friendly Financial Planner Ask Your Question for a Future Rookie Reply Buy the Book “Recession-Proof Real Estate Investing” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Real Estate vs. Stocks: What 145 Years of Returns Tells Us Connect with Mindy (00:00) Intro (00:37) Building Credit 101 (08:42) Real Estate vs. Stocks (23:16) Changing Your Strategy (30:38) Connect with Mindy! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-526 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to learn the secret to snagging rentals below market value? Every successful investor has this one crucial skill, and it’s often the difference between getting the door shut in your face and coming away with a discounted property. Even rookies can learn this skill, and today, we’re bringing on a pro to show you how! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by J Scott, who delivers a masterclass on real estate negotiations with sellers, agents, contractors, vendors, and anyone else you encounter in your real estate investing journey. In this episode, J will show you the best way to sharpen your negotiation skills, the questions that will help you determine a seller’s motivation, and how to stand out to sellers in a competitive housing market. But that’s not all. If you’ve ever wondered where you should set your starting offer and how to get over your fear of insulting the seller with a “lowball” bid, J’s got the answers. Better yet, he’ll show you how to do this without creating any kind of animosity between you and the seller. In fact, he’ll share how you can do the exact opposite by building rapport and creating a win-win for both sides! In This Episode We Cover: Using the power of negotiation to buy rentals below market value The number one way to sharpen your real estate negotiation skills Crucial questions that will help you determine a seller’s motivation How to make your offer stand out (even in a competitive market) The two tactics you must master to become a successful negotiator How to avoid an adversarial relationship when entering negotiations Two telltale signs that it’s time to end negotiations with a seller And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada Grab “The Book on Negotiating Real Estate” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Building Rapport and Negotiating with Sellers for a Great Deal Connect with J PropStream (00:00) Intro (00:37) Negotiations 101 (04:24) Why Negotiation Matters (08:00) BEST Negotiating Tactics (15:45) How to Sharpen Your Skills (21:34) Making “Lowball” Offers (28:00) Questions to Ask Sellers (35:36) How to Stand Out in 2025 (38:24) When to End Negotiations (40:44) Connect with J! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-525 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Buying sixteen rental units in one market?! Today’s guest has discovered the perfect investing strategy for newbies. You don’t need a ton of money or resources, and you can use it over and over to buy your first, second, third, or twentieth rental property. Tune in to find out what this secret strategy is and how to use it! Welcome back to the Real Estate Rookie podcast! After Seamus Nally’s brother showed him the off-campus housing model, they formed a four-way real estate investing partnership with other family members. Pooling their money helped them fast-track their first deal—a duplex they renovated and rented by the room. Before long, they had BRRRR’d (buy, rehab, rent, refinance, repeat) their way to sixteen units within the same neighborhood, which revitalized the entire community and forced HUGE appreciation across their real estate portfolio! In this episode, Seamus will show you how to combine the BRRRR strategy and partnerships to not only kickstart your investing journey but also scale your portfolio faster than you ever thought possible. Along the way, you’ll learn how to use home equity to fund more deals, find the best subcontractors for your home renovations, and more! In This Episode We Cover: The strategy Seamus used to scale to sixteen rental units in one market How to use the BRRRR method (buy, rehab, rent, refinance, repeat) Growing your real estate portfolio through the power of investing partnerships Crucial dos and don’ts when real estate investing with family members Buying rental properties faster by tapping into your home equity The value of building relationships with small banks and local credit unions Keeping high-quality tenants happy by focusing on customer service How to find (and keep!) the best subcontractors in any market And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram TurboTenant Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Grab Your Early Bird Tickets to BPCON2025 in Las Vegas, Nevada Grab Our Book “Real Estate Partnerships” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders Real Estate Rookie 486 - Quitting His Job with Real Estate After Cracking the Cash Flow Code Connect with Seamus (00:00) Intro (00:34) Seamus’ First Deal (06:34) The Power of Partnerships (10:20) Revitalizing a Neighborhood (18:03) How to Fund Multiple Deals (23:50) Scaling with the BRRRR Method (29:01) Sweat Equity & Finding Contractors (34:41) Self-Management Tips (36:52) Connect with Seamus! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-524 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Cash flow is hard to come by in this market. Just a few years ago, it was easy to find rental properties that met the one-percent rule, but today, you need to get creative if cash flow is your main goal. Is buying more rentals the most obvious fix, or is there another strategy that people aren’t talking about? Stay tuned to find out! Welcome back to another Rookie Reply! Today, we’re returning to the BiggerPockets Forums to answer more of your recent questions, and first up, an investor needs some help managing their rental property from afar. Who handles showings? Move-out inspections? We’ll show them how to turn their out-of-state investing operation into a well-oiled machine. Next, we’ll hear from an investor who wants more cash flow. They already have one rental property, so should they pay it off or start looking for their next rental? We’ve got several strategies that they (and YOU) can use! Finally, what happens when a property you’re looking to buy needs repairs? We’ll share some crucial dos and don’ts when negotiating with sellers! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: The BEST strategies to increase your portfolio’s total cash flow Tips and tricks for self-managing your rental property (out-of-state!) Must-have property management and maintenance software for your portfolio Four ways to tap into your rental property’s equity and redeploy it What to do (and what NOT to do) when negotiating repairs with sellers And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Get RentRedi for FREE with BiggerPockets Pro Membership Follow Real Estate Rookie on Instagram “Like” Real Estate Rookie on Facebook TurboTenant Avail Innago Latchel Lula Ask Your Question for a Future Rookie Reply Grab “The Book on Rental Property Investing” Find an Investor-Friendly Agent in Your Area Maximizing Your Portfolio: How to Get the Most Out of Your Real Estate Investments Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-523 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
It’s true—we regret scaling our real estate portfolios. We’ve learned (the hard way) that less is often more, especially in today’s market, where great deals aren’t as easy to find. Want to make sure your quest for more rentals doesn’t derail your investing journey? We’ll share where we went wrong so that YOU don’t make the same costly mistakes! Welcome back to the Real Estate Rookie podcast! Social media would have you believe that a large portfolio is the key to reaching financial freedom, replacing your W2 salary, and retiring early. And while you may need more than one or two rental properties to achieve your biggest investing goals, scaling too quickly can have the opposite effect—killing your cash flow and leaving you with more headaches than you bargained for! In this episode, you’ll hear how putting all his eggs in one basket caused Tony to lose over $200,000 on ONE deal and how growing too fast caused Ashley to miss out on one of the BEST years to invest in real estate. Stay tuned to learn what we would have done differently if we could wind back the clock! In This Episode We Cover Why Ashley and Tony regret buying so many rental properties so quickly The pitfalls of scaling your real estate portfolio (and how to avoid them!) Why “less is more” when it comes to building a rental portfolio What WE would do differently if we started investing today Why stabilizing your properties is more important than acquiring more Creating necessary procedures, processes, and systems in your real estate business And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-522 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Most people invest in real estate for cash flow or appreciation, but there are enormous tax benefits as well. In this episode, we’re going to share the number one tax strategy you need to know about—the short-term rental tax loophole—which could save you thousands! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Sean Graham, who is not only a certified public accountant (CPA) but also a fellow real estate investor. He’s going to show YOU how to avoid paying Uncle Sam (legally) with just a few savvy tax strategies. The best part? You don’t need to be a big-time investor with a large real estate portfolio to take advantage of these benefits. Even if you have just ONE rental, these strategies are for you! First, Sean will share the ins and outs of the cost segregation study, which allows you to frontload depreciation rather than spreading it out over the next few decades. He’ll also get into bonus depreciation and the different line items that qualify, as well as the tax “loophole” that allows you to use tax deductions to offset active income—yes, including your W2 wages! In This Episode We Cover: Offsetting active income (and saving thousands) with the short-term rental loophole How to avoid paying taxes (legally!) on your rental property Cost segregation studies explained (and when you should get one) How to retroactively claim depreciation through a “look-back” study Why you can have as little as ZERO taxable income and still be lendable And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Cost Segregation 101 Get Early Access to Real Estate’s Biggest Event of the Year, BPCON2025 Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Download the Cost Segregation 101 Resource Buy “The Book on Tax Strategies for the Savvy Real Estate Investor” Find Investor-Friendly Lenders Connect with Sean (00:00) Intro (00:36) What Is Cost Segregation? (06:33) Short-Term Rental Loophole (13:10) Other Strategies & Pitfalls (20:21) Bonus Depreciation 101 (25:24) How to Do a Cost Seg Study (28:05) Cost Segregation Study (33:28) Connect with Sean! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-521 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Does your rental property have negative cash flow? This doesn’t necessarily mean you bought a bad deal, though losing money probably isn’t what you signed up for. But not to worry—in today’s episode, we’ll share a few changes that could get you back in positive territory in no time! Welcome back to another Rookie Reply! Today, we’re answering more questions from the BiggerPockets Forums. First up, we’ll get into house hacking—the easiest way for a new investor to build a real estate portfolio—and show you how to use this strategy to keep buying properties with low money down. Next, should you invest in Columbus, Ohio in 2025? This investing hotspot is drawing plenty of attention, but we’ll show you how to find other markets just like it! Finally, is your Airbnb giving you little or no cash flow? Tune in to learn how to plug the holes in your business, when to hold for appreciation, and when it might be wise to sell! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: The number one thing you must do before looking at Airbnb markets The most crucial data for Airbnb market analysis (and where to find it!) The BEST short-term rental markets to invest in this year Must-have Airbnb amenities to add to your rental property Why we’re choosing secondary markets over primary markets in 2025 And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Top Investment Housing Markets for 2025 Market Analysis Spreadsheet BrightInvestor NeighborhoodScout Breezeway Sign Up for BiggerPockets Momentum 2025 to Fast-Track Your Investing Journey Get Early Access to BPCON2025 and Learn Real Estate from Industry Experts Ask Your Question for a Future Rookie Reply Grab the Book “Smarter Short-Term Rentals” Find an Investor-Friendly Agent in Your Area Improve Your Real Estate Returns by Optimizing Your Existing Properties When Deals Are Hard to Find (00:00) Intro (00:40) House Hacking 101 (10:58) How to Pick a Market (21:14) Airbnb Listings & Cleaning Fees (31:36) “Fixing” Revenue & Exit Strategies (39:49) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-520 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to get into short-term rentals in 2025? Your first step is to find the right Airbnb market for you. But we know that wading through 20,000 US towns and cities can be overwhelming, which is why we’re turning to our resident short-term rental expert for everything you might need to know! Welcome back to the Real Estate Rookie podcast! Vacation rentals are Tony’s specialty, and in this episode, he’s going to share his best tips and tricks for choosing a market in 2025. First, he’ll help you pin down your investing goals before covering some of the most crucial factors to consider when analyzing a short-term rental market—including home price, supply and demand, competition, and others. You’ll also learn how to perform your own market research from scratch so that you’re armed with the most accurate data when making your decision! But that’s not all. Once you’ve chosen your market, you’ll need to determine which types of amenities to include. We’ll show you what’s needed, what’s not needed, and which additions could give you a competitive edge in your market. Finally, we’ll share a list of the best places to invest in 2025, which may even feature a certain Louisiana market Tony notoriously invested in years ago! In This Episode We Cover: The number one thing you must do before looking at Airbnb markets The most crucial data for Airbnb market analysis (and where to find it!) The BEST short-term rental markets to invest in this year Must-have Airbnb amenities to add to your rental property Why we’re choosing secondary markets over primary markets in 2025 And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram AirDNA “Best Places to Invest in Short-Term Rentals in 2025” Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations Sign Up for BiggerPockets Momentum 2025 to Supercharge Your Investing This Year Buy the Book “Smarter Short-Term Rentals” Find an Investor-Friendly Agent in Your Area The 5 Best Housing Markets for Short-Term Rentals in 2025 (00:00) Intro (00:43) What’s Your Motivation? (02:12) Crucial Data Points (10:22) Choosing Your Market (18:46) Must-Have Amenities (21:40) Supply, Demand, & Competition (27:03) Ongoing Market Research (28:59) BEST Markets in 2025 (34:46) Do Your Own Research! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-519 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
“Tiny” investments with BIG upsides? Today’s guest turned a $12,000 down payment (all the money he had) into four rental properties and a unique real estate investing business. After an injury from his time in the Army left Manny Reyna with altered life plans, he had to decide what to do next. He didn’t have much money but wanted to provide for his wife and young son. The best option: use his VA loan to buy a house. With every dollar he had, he bought a home, knowing it could one day be a rental, but little did he know that it would kickstart a very different real estate investing journey. Fast forward a few years later, and Manny has a glamping/tiny house business that he started with just $20,000. This tiny home brings in some respectable cash flow but wasn’t without its struggles. In this episode, we’re going through the big ups (and big downs) of Manny’s journey, from having to literally move a house to bad guests ruining his first short-term rental, installing utilities on completely raw land, and managing his properties from very far away (he’s in Japan right now!). In This Episode We Cover: Why every veteran or active duty military member should use THIS loan to buy a house How to start investing without much money by buying “tiny” investment properties Whether you should hire property management or self-manage your first property Why lowering your rent price is worth it to avoid prolonged vacancies (don’t make Manny’s mistake!) How much it cost Manny to install utilities (electrical, septic, etc.) on a raw land for his glamping properties And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Get Casita on Instagram Sign Up for BiggerPockets Momentum 2025 to Supercharge Your Investing This Year Grab the Book, “Short-Term Rental, Long-Term Wealth” Property Manager Finder $11,000/Month with One VERY Unique Rental Property w/Garrett Brown Connect with Manny (00:00) Intro (02:10) First House for $12K Down! (06:00) Hiring Property Management (09:34) I Can't Get Tenants! (10:37) $50K Tiny Homes and Land Investing (16:15) Setting Up Utilities on New Land (21:21) Tiny House Amenities (24:11) Cash Flow and Current Rent (26:37) Tenants Trashed My Property! (29:58) Buying MORE Tiny Homes (33:44) Managing Properties from Abroad (35:09) Connect with Manny! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-518 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you need more money to buy your first rental property? Fortunately, there are all kinds of real estate side hustles you can use to supercharge your savings, all while learning the ropes of real estate investing. And in this episode, we’re going to share some of our favorites that YOU can start today! Welcome back to another Rookie Reply! Today, we’re tackling more of your recent questions from the BiggerPockets Forums and BiggerPockets Facebook groups. First, a new investor has a lofty investing goal they want to achieve in just five years, and we’ll share our best advice and side hustle ideas to help them reach it. Next, we’ll hear from an investor who wants to buy their dream home. Can they leverage their current real estate portfolio to help fund it? Should they sell their rentals? Stay tuned to find out! Finally, what’s the best way to structure a real estate investing partnership? Should you go into business with a family member? We’ll share some crucial dos and don’ts! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: The BEST side hustles for making extra money and learning real estate Whether it’s ever too late to start your investing journey How many rental properties you need to achieve your cash flow goals Our biggest fears, headaches, and lessons learned when WE started investing How to leverage your current real estate portfolio to buy your next property What you must know before forming partnerships (and how to structure one!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram “Like” Real Estate Rookie on Facebook Ask Your Question for a Future Rookie Reply Grab Tony & Ashley’s Book “Real Estate Partnerships” Find Investor-Friendly Lenders 6 Real Estate Side Hustles to Make Extra Money & Gain Experience (00:00) Intro (00:35) Cash Flow Goals (07:24) Biggest Fears & Headaches (11:36) BEST Side Hustles (18:42) Buying Your Dream Home (24:24) Partnerships 101 (32:02) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-517 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Managing rental properties doesn’t have to be hard. You can do it without the midnight tenant phone calls, “lost” rent checks, and other common landlord headaches. Looking to buy your first or next rental property? Today, we’re giving a masterclass on how to manage a rental property, even if you’re a real estate rookie with zero experience in investing. Ready to start? Here’s what we’re breaking down in this episode: What to do before you buy, getting your lease agreement together, handling maintenance requests and repairs, move-ins and move-outs, security deposits, and more! What software do we use to streamline all the tenant communication so we don’t deal with a dozen phone calls a day? How do we handle tenant complaints and damages to the property without having our hair fall out (Tony optionally shaves his head!)? We’re giving you complete lists of every app and software we use so you can manage with ease, too! Also, why did Ashley publicly weep in a courthouse early in her real estate career? She shares one key tip to save you time, money, and tears! In This Episode We Cover: What you should do BEFORE you buy your first/next rental to make your life much easier Lease agreements 101 and the crucial additions that most landlords miss How Ashley handles all her tenant maintenance requests without picking up a single phone call What you MUST have a tenant fill out when moving into your property (this will save you a TON of money) Every rental property software Ashley uses to manage her long-term rentals What you should NEVER do during an eviction filing (Ashley’s BIG mistake) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube BiggerPockets Resource Hub Lease Agreements by State Rookie Resource Hub RentRedi Stessa Sign Up for BiggerPockets Momentum 2025 to Supercharge Your Investing This Year Grab the Book “The Self-Managing Landlord” Property Manager Finder 9 Incredible Resources To Help You Self-Manage Your Rental Properties (00:00) Intro (00:28) BEFORE You Buy (07:40) Lease Agreements 101 (15:11) Maintenance, Repairs, Tenant Requests (20:17) Move Ins and Move Outs (26:39) Security Deposits (28:05) Best Rental Property Software Best Rental Property Software (33:49) Landlord-Tenant Laws (40:23) You’re Ready for Your First Rental! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-516 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Small multifamily investing might seem scary to a new investor, but what if we told you these properties are less risky than single-family homes and even easier to buy in many cases? In this episode, we’ll bust the most common multifamily myths that keep rookies on the sidelines so that YOU can take down your first multifamily property in 2025! Welcome back to the Real Estate Rookie podcast! Today, Amelia McGee and Grace Gudenkauf return to the show to deliver a masterclass on small multifamily investing. They’ll show you how to find off-market real estate deals at a deep discount, why cash flow is king when analyzing multifamily properties, and which neighborhoods to target for long-term appreciation. We’ll also get into zoning and permitting issues to be wary of—pitfalls that could wipe out your cash flow if you’re not careful! But that’s not all. Of course, the BIG question on every rookie’s mind is, “How do I get financing for these deals?” and we’ve got the answer! Amelia and Grace will show you how to buy larger properties with low money down and provide you with the perfect pitch for seller financing! In This Episode We Cover: Why small multifamily properties are even less risky than single-family homes Boosting your cash flow by using multiple investing strategies for the same property Taking advantage of HUGE appreciation by targeting developing areas Buying multifamily properties with LOW money down by house hacking The BEST way to pitch seller financing for off-market multifamily deals Multifamily investing “myths” new investors are taught (and why they’re wrong!) Common zoning and permitting issues that can kill your cash flow The keys to managing multiple tenants (and how to keep them happy!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Real Estate Rookie 111 - 26 Doors in 1 Year? Here’s How You Can Do It Too! Get RentRedi for FREE with BiggerPockets Pro Membership Maximize Your Real Estate Investing with a Self-Directed IRA Buy Amelia & Grace’s Book “The Self-Managing Landlord” Find an Investor-Friendly Agent in Your Area Real Estate Rookie 401 - Boost Your Cash Flow in 2024 with These “Self-Management” Tips Connect with Amelia Connect with Grace (00:00) Intro (02:27) Small Multifamily 101 (08:32) Finding Deals & Choosing Markets (16:55) Due Diligence & Tenant Management (25:13) Creative Finance Strategies (29:20) Key Systems & Processes (32:11) Connect with Amelia & Grace! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-515 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Is it possible to scale your real estate portfolio in this market? What if you only have one income? Getting past one rental property is a huge hurdle in every investor’s real estate journey, but increasing your rental income and lowering your mortgage costs can help you maximize your cash flow and get over the hump. And in this episode, we’ll show you how! Welcome back to another Rookie Reply! Today, we’re diving back into the BiggerPockets Forums and answering your questions. First, we’ll hear from an investor who wants to scale their portfolio but feels stuck with one rental. We’ll show them how to squeeze more money out of their property and fund their next purchase. Our next question is from an investor who wants to refinance a “unique” property that doesn’t have comparables. What type of loan do they need? Should they sell the property? Stay tuned to find out. Finally, we’ll help a few landlords with some “unusual” rental maintenance headaches! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Whether you can build and scale a real estate portfolio on ONE income House hacking, renting by the room, and MORE ways to grow your rental income Homeowners insurance, property taxes, and MORE mortgage costs you can reduce How to turn your accessory dwelling unit (ADU) into a short-term rental Creative ways to get refinancing for a “non-traditional” rental property How to handle unusual (or unreasonable) maintenance requests from tenants What you MUST keep in mind when working with Section 8 tenants And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube AirDNA Ownwell Land More Off-Market Deals with Crucial Property Owner Contact Information from DealMachine Ask Your Question for a Future Rookie Reply Grab the Book “The Self-Managing Landlord” Find Investor-Friendly Lenders Real Estate Rookie 443 - How to Use “Asset Management” to Build Wealth (Even with a Small Portfolio) (00:00) Intro (01:01) Scaling with 1 Income (11:14) Refinancing “Unique” Properties (17:08) “Unreasonable” Maintenance (26:05) Section 8 Tenants (31:37) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-514 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What do you need to know about the 2025 real estate market before you buy your first (or next) investment property? Dave Meyer, host of the BiggerPockets Real Estate Podcast and one of the industry’s most respected analysts, will tell you everything a rookie real estate investor needs to know when buying in 2025. We’re talking about the best markets, predictions, and one type of property that could be a phenomenal buy this year. Dave believes now is a great time to invest and is backing it up by increasing his investments in 2025. But, he says you need to find the “upside” in your market or your strategy to make more money this year. What does he mean? Dave spells out a few key ways to find often overlooked “upside” potential so you can build wealth even with high home prices and interest rates. Which markets does Dave believe have the most growth potential this year? He’s laying out his top investing areas and the property types that could see the most demand. Plus, why is it cheaper (and arguably better) to buy a new home in 2025 instead of waiting for homeowners to sell? If you’re ready to invest in real estate, use Dave’s roadmap to invest better than the rest this year. In This Episode We Cover: The 2025 state of real estate investing and why Dave sees plenty of “upside” to come Why Dave is NOT focusing on “cash flow” when buying his real estate deals Top real estate markets of 2025 and the cities/areas with the most demand A “big shift” that is pushing more and more renters to certain parts of the city Free data you can use right now to see which markets will grow or slow in 2025 Why buying a new build could be a much better investment than buying existing homes And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube BiggerPockets Market Finder BiggerPockets Real Estate Podcast On the Market Podcast Real Estate Rookie YouTube Channel Real Estate Podcast 1065 - It’s About to Get Good! (2025 Housing Market Predictions) Real Estate Rookie 123 - ‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects w/Donovan Adesoro Real Estate Rookie 473 - Moving 1,500 Miles Away to Buy His First Rental with Just $25,000 w/Austin Wolff Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-513 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Laura Sides had zero real estate investing experience not too long ago. But, within just six weeks, she made $100,000 on her first real estate deal. How is that even possible? That type of profit is usually reserved for expert real estate investors, not middle-school science teachers! Today, Laura is uncovering the fast-flipping formula that helps her do quick, profitable real estate deals even in her competitive market. During a beach vacation to Florida, Laura read the personal finance and investing classic Rich Dad Poor Dad, and, seemingly overnight, her brain rewired as she became dead set on multiplying her money instead of working for every dollar. So, she took out a HELOC (home equity line of credit) to buy her first real estate deal, but where would it come from? A chance encounter with a neighbor would set her on a path that would change her life forever. Now, she’s cracked the house flipping formula, has two killer rental properties she uses as her own vacation homes, and makes significantly more than her teacher’s salary working on her schedule, building wealth her way. Want to be like Laura? We ALL do, and today, she’s sharing how you can do it, too! In This Episode We Cover: How Laura made a six-figure profit in just six weeks on her FIRST real estate deal The house flipping formula Laura uses to buy low-stress, quick flips that make great profits Why you should ALWAYS be friendly with your neighbors (they might sell you their house) Using a HELOC (home equity line of credit) to buy your first investment property What Laura looks for on property listings as telltale signs they’ll be good deals And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Rich Dad Poor Dad Laura’s Instagram Land More Off-Market Deals with Crucial Property Owner Contact Information from DealMachine Buy the Book, “The House Flipping Framework” Find an Investor-Friendly Agent in Your Area How to Start Flipping Houses for Huge Profits in 2025 (Step-by-Step!) Connect with Laura (00:00) Intro (01:02) ZERO Investing Experience (04:49) I’ll Buy Your House! (08:56) $100K Profit on FIRST Deal!? (12:41) From 1st Flip to Beach House (19:55) Laura’s Portfolio (22:32) The Fast Flipping Formula (26:41) Finding Deals (34:18) Connect with Laura! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-512 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Thinking about buying a duplex, triplex, or even a quadplex? Small multifamily properties are often some of the BEST investments for cash flow, especially if you plan to live in one of the units! But how does this type of property differ from a single-family home? What do you need to know before buying? Listen in to find out! Welcome back to another Rookie Reply! Today, we’re scouring the BiggerPockets Forums and answering more of your questions. After covering the ins and outs of small multifamily investing, we’ll get into financing your first property. What’s the best loan for first-time home buyers—FHA, conventional, or another option entirely? We’ll put them head-to-head and point you in the right direction! Finally, we’ll discuss several ways to use your home equity to grow your real estate portfolio. From 1031 exchanges to lines of credit, there are all kinds of options! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: What you NEED to know before buying a small multifamily property The pros and cons of FHA and conventional home loans Putting twenty percent down versus paying private mortgage insurance (PMI) with less money down How to defer capital gains tax through a 1031 exchange The BEST ways to leverage the home equity in your rental property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube FreddieMac PMI Calculator Ask Your Question for a Future Rookie Reply Buy the Book “The Multifamily Millionaire, Volume 1” Find Investor-Friendly Lenders Real Estate Rookie 261 – How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-511 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Home renovations can substantially increase your equity and cash flow on a rental property, but when doing one, there are two key things you need to pay attention to: budgets and timelines. Today, rookie real estate investor Rene Hosman is back to teach you how to do both after just finishing a three-month, $36,000 rental renovation where she turned an outdated apartment into a cash-flowing condo! Rene was able to rehab the entire unit (two bedrooms, one bathroom) with a budget of around $30,000, and although she may have gone slightly over, her returns look nothing less than phenomenal. How did she do everything—new floors, electrical, bathroom, AND furnishings—with such a reasonable budget? If you’re ready to renovate your home or rental property, take her tips. Rene goes through every aspect of the project: the good (renting it out right after finishing) and the bad (a BIG flood in the master bedroom), plus everything in between. She’ll share what she chose to DIY, what was smarter to hire out, and how she paid for it all. We also get the final numbers of the renovation—what the property appraised for AND how much it’s renting for now! In This Episode We Cover: How to stay on budget and on timeline when doing your next home renovation Unexpected costs that led to thousands of more dollars in renovation expenses Whether you should buy the materials or let your workers buy them instead (cost-saving tip!) Furnishing your rental property for cheap and where Rene finds low-cost, quality furniture How to negotiate with your bank so you can get a LOWER interest rate when you refinance How much cash flow Rene will make off of this small (but mighty) medium-term rental And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube BiggerPockets Forums $1,000,000/Year with 22 Rentals by Focusing on This Ultra-Profitable Niche w/Jesse Vasquez Maximize Your Real Estate Investing with a Self-Directed IRA Join BiggerPockets Momentum 2025 to Supercharge Your Investing This Year Grab Your Copy of “The Book on Estimating Rehab Costs” Find Investor-Friendly Lenders How to Do Your FIRST House Flip in 2024: Budgets, Renovations, and Loans w/Rene Hosman Connect with Rene (00:00) Intro (01:07) Property Renovation Progress (03:35) How to Hit Your Renovation Timeline (06:56) Staying On-Budget (11:38) Unexpected Costs... (19:29) Building Your Renovation Budget (21:18) Paying for Materials and Rehab Expenses (30:42) Furnishing the Property (32:18) Refinancing and Rent Numbers (40:12) Connect with Rene! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-510 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to start investing in real estate but don’t know where (or how) to begin? Even as a brand-new beginner, you can buy your first investment property in 2025, regardless of how high home prices and interest rates get. Today, we’ll break down how to find your first investment property, finance it, build a team (so you’re not doing all the work), and manage it to start building real estate wealth. Feeling scared to start? Thousands of rookies were in your shoes at the start of 2024 and are now experienced investors. It’s common to feel fear before buying an investment property, which is why, in this episode, we’re going over the common worries and pitfalls that stop investors from starting and how you can get around them! We’ll even share the exact markets we’re looking to buy in this year, what types of properties we think have the most potential, and get into interest rate predictions for 2025! Don’t sit on the sidelines; this is your chance to get into the game! Join BiggerPockets Momentum 2025 to supercharge your investing this year! In This Episode We Cover: How to start investing in real estate in 2025, even if you have zero experience Beginner steps to start and the two things you MUST do now before you buy The real estate markets we’re looking to buy in during 2025 (copy our strategy!) What to do if you’re too scared to start and stuck in analysis paralysis Building your investing team so you don’t have to do all the work And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube BiggerPockets Calculators BPCon2025 BiggerPockets Forums Real Estate Market Analysis for Beginners | Rookie Resources Landlord-Tenant Laws of the US Join BiggerPockets Momentum 2025 to Supercharge Your Investing This Year Grab the Book “Long-Distance Real Estate Investing” Find an Investor-Friendly Agent in Your Area BiggerNews: This Area Has the BEST Cash Flow Potential in the Country (Lake Effect Cash Flow) Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-509 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Are great real estate deals gone for good? Not so fast! High interest rates, inflated home prices, and low inventory have made things difficult for investors, but by looking beyond the multiple listing service (MLS), you could uncover off-market properties that fly under the radar. In today’s episode, we’ll show you how! Welcome back to another Rookie Reply! If you’re struggling to make the numbers work in today’s housing market, you’re not alone! Tune in to learn how we find “rare” rental properties that are either undervalued or overlooked. Not sure where to start your investing journey? We’ll share three key factors that will help you narrow down your options and pinpoint the best real estate market for you. Stick around till the end as we discuss lease renewals, tenant turnover, and how to deal with a renter whose financial situation has changed! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Creative ways to find more off-market real estate deals in 2025 Three key factors to consider when choosing a market to invest in Why proper deal analysis is even more crucial when buying off-market How to determine whether you should offer tenants lease renewals Keeping your BEST tenants and avoiding costly tenant turnover And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube PropStream Privy NeighborhoodScout BrightInvestor Ask Your Question for a Future Rookie Reply Buy the Book “Finding and Funding Great Deals” Find an Investor-Friendly Agent in Your Area 5 Ways to Find Off-Market Real Estate Deals Like a Pro Real Estate Market Analysis for Beginners | Rookie Resources Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-508 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Fixing up a distressed property might be the BEST way to add value, whether you’re looking to flip houses, BRRRR (buy, rehab, rent, refinance, repeat), or charge higher rents. But to avoid losing money, you’ve got to know what you’re doing! Today’s guest is an expert in home renovations, and in this episode, she’ll walk you through the entire process! Welcome back to the Real Estate Rookie podcast! Investor Serena Norris has done over 200 deals (including more than 130 flips) in just TEN years, so she knows a thing or two about home improvements! Today, she will show you how to complete a rehab project, step-by-step. You’ll learn about everything from forming partnerships and analyzing rentals to creating a pricing sheet in a new market, building a scope of work, and effectively managing your contractors. Whether it’s your first time managing construction or you’re looking for systems and processes that will help your jobs run smoothly, you don’t want to miss this renovation masterclass. Serena offers plenty of nuggets that will help you finish your projects on time AND on budget! In This Episode We Cover: Serena’s BEST renovation tips, tricks, and hacks (learned from 130+ flips!) How to manage a home renovation project from start to finish How to divvy up responsibilities in a real estate investing partnership Building your pricing sheet when diving into a new market How to estimate rehab costs and create your own scope of work The two most common mistakes new investors make on rehab projects And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Grab “The Book on Estimating Rehab Costs” Find an Investor-Friendly Agent in Your Area Real Estate Rookie 488 – How I’m Flipping 12 Houses (at Once!) All While Traveling Serena’s Instagram (00:00) Intro (00:50) Serena’s Portfolio & Partnerships (07:23) Building Your Pricing Sheet (15:55) Creating a Scope of Work (25:24) Working with Contractors (34:08) How to Manage Rehab Projects (43:47) Connect with Serena! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-507 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to build a thriving real estate business in 2025? There’s a major mindset shift you need to make if you want to be successful in today’s market. Whether you want a couple of cash-flowing rental properties or dream of building a multimillion-dollar company, like Steve Rozenberg did, you won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! When Steve was furloughed from his job as an airline pilot, he knew he needed another way to make money. He dabbled in several real estate strategies—flipping houses, wholesaling, and buy and hold investing—and experienced his fair share of failure along the way. But what he discovered was that the cost of inaction was much higher than the cost of action. By educating himself, learning from his mistakes, and laying the proper foundation for his business, he was able to scale a multimillion-dollar property management company! In today’s episode, Steve will give YOU the blueprint for starting your own real estate business this year. You’ll learn about the two biggest mistakes new investors make, the systems and processes that will allow you to scale, and how to identify the perfect investing strategy for you! In This Episode We Cover: The blueprint Steve used to build a multimillion-dollar company The crucial mindset shift you need to succeed in today’s market The two biggest mistakes new investors make when starting out How to lay the proper foundation for your real estate business (in five steps!) Creating systems and processes that allow you to scale your real estate portfolio The number of standard operating procedures (SOPs) you actually need How to choose the perfect investing strategy for you in 2025 And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube The Checklist Manifesto Buy the Book “Scaling Smart” Find an Investor-Friendly Agent in Your Area How to Build Effective Systems in Your Real Estate Business Connect with Steve (00:00) Intro (01:22) Starting from Zero (05:07) Mindset Shift & Critical Mistakes (10:41) HUGE Lessons Learned (18:35) The Secret to Scaling (25:43) Building Systems & Processes (33:31) The “One-Page” SOP (40:23) Connect with Steve! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-506 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What’s the “right” way to build your real estate portfolio? Once you’ve taken down your first rental property, should you focus on paying it off? Or should you buy more properties, even if it means taking on even more debt? You’ll want to hear where we stand in today’s episode! Welcome back to another Rookie Reply! Today, Tony and Ashley are digging through more of your recent real estate-related questions. First, we’ll discuss paying off your mortgage versus using that money to buy more rental properties. After that, we’ll compare the pros and cons of FHA loans and show you an easy way to estimate closing costs. We’ll also cover some other low-money-down loans that you may have never heard of! Finally, are you struggling to fill vacant units? Tired of apartment tour no-shows? Stay tuned because we’ve got a strategy that makes “serious” applicants stick! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Whether you should focus on paying off your mortgage or buying MORE rentals The pros and cons of getting an FHA loan for your rental property The “hidden” closing costs you CAN’T afford to miss (and how to calculate them!) The best ways to put low money down on your next property Finding “serious” applicants for your rentals (and lower vacancy rates!) How to save time by streamlining your rental application process And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Sample Closing Disclosure NACA USDA Eligibility Map Ask Your Question for a Future Rookie Reply Grab “The Book on Rental Property Investing” Find Investor-Friendly Lenders Real Estate Rookie 261 – How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-505 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you lean into data when analyzing real estate deals? In a competitive market, ANY kind of advantage goes a long way towards helping you land better deals. And guess what? Harnessing the power of data is much easier than you think. Today’s guest delivers a handful of helpful tips, tricks, and tools that all rookie investors can use! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Ariel Herrera—data scientist by day and real estate investor by night. Five years ago, Ariel decided that real estate was going to be her path to financial freedom. Like any eager investor, she devoured as many articles, podcasts, videos, and books as she could get her hands on at the time. Once she realized that she could combine her love for data science with real estate, there was no looking back! In this episode, Ariel shares about the competitive edge you can gain by being a data-driven real estate investor. She recommends several tools and systems, all of which are easy to implement and require ZERO coding. Additionally, you’ll learn how to choose your market, invest out-of-state, and save a ton of time with a few deal analysis shortcuts! In This Episode We Cover: How to find better real estate deals through the power of data science Tools and systems you can use to analyze deals (WITHOUT any coding!) Leveraging the equity in your portfolio to purchase MORE properties Creating consistent cash flow with the house hacking strategy How to find and purchase properties in other states (and countries!) And So Much More! Links from the Show Apify Browse AI ChatGPT Google Bard Redfin Zapier Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-504 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
It’s the season for housing market predictions, and we know who to call! Altos Research and HousingWire’s Mike Simonsen joins the show to share where his team thinks mortgage rates, home prices, housing inventory, and buyer demand will be in 2025. Every year, the HousingWire team puts together a phenomenal housing market forecast, touching on the topics investors, agents, lenders, and housing nerds care about while recapping the wildest surprises of the year prior. Will mortgage rates finally fall below six percent in 2025? Will home prices dip with housing inventory up a substantial percentage year-over-year? And could agents and lenders finally get some relief with home sales, or will we still see sluggish purchasing and buyer activity? Not to spoil it, but Mike is optimistic about the 2025 housing market and what will come over the next twelve months. Mike breaks down each prediction and what could affect YOU the most, whether you’re buying or selling homes. Plus, he shares the one metric his team is watching carefully to see which direction the 2025 housing market is headed. In This Episode We Cover: HousingWire’s 2025 housing market forecast and 2024 housing market recap The mortgage rate range you can expect over the next twelve months Home price growth and exactly how much the HousingWire team expects in 2025 Why housing inventory is starting to climb again (and whether it will continue in 2025) One metric Mike and his team are paying very close attention to in 2025 The market’s reaction to the 2024 election and President-Elect Trump’s win And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube On the Market Altos Research HousingWire’s 2025 Housing Market Forecast Check Out "On the Market" Get Ready to Invest in 2025 with Dave’s Book, “Start with Strategy” Find Investor-Friendly Lenders 2025 Housing Market Predictions (+ How’d We Do Last Time?) Connect with Dave Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-503 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
This might be the fastest path to FIRE we’ve ever seen. In just two years, Emily and James were able to retire early and travel the world full-time. They didn’t have a trust fund, some huge inheritance, or a winning lottery ticket. But they did make some serious sacrifices, cutting almost everything unnecessary out of their lives to retire early and quit the jobs they were itching to get out of. How’d they do it? After realizing they were throwing away every cent they made, James stumbled upon a popular personal finance blog. He devoured it that day at work and came home a changed man. The AC temperature was going up, the restaurant expenses were going down, and he was deadset on achieving financial freedom. His wife, Emily, needed some convincing. But, with time, they both became locked in on FIRE. They moved to a cheaper house, rode bikes to work, and rarely ate out anymore. Just two years after discovering FIRE, they achieved it, and they did it without millions of dollars in the bank. And here’s the thing: you might be able to do it, too, IF you’re willing to put in the work. How much money are they living on? How did they cut their expenses so significantly? And how do you convince your partner or spouse to follow you on the path to financial independence? Emily and James are showing you how in today’s episode! In This Episode We Cover: How NOT to convince your partner/spouse to chase FIRE (do THIS instead) Cutting your expenses significantly and how to save money every single month The big lifestyle changes you must be willing to make to retire early Rental property investing and how to have income property cash flow fuel your FIRE Why you DON’T need to be a millionaire to retire early And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube The BiggerPockets Money Podcast Rethink The Rat Race Check Out "BiggerPockets Money" Reach FIRE Faster with the Personal Finance Classic “Set for Life” Find Investor-Friendly Lenders The Ultimate Beginner’s Guide to Saving Money Connect with Scott Connect with Mindy (00:00) Intro (01:51) Poverty to Overspending (06:42) Convincing Your Spouse on FI (09:39) 0% to 85% Savings Rate (17:00) Buying $50K Rentals (23:59) Retiring on $31K/Year (30:10) The Secret to FIRE (33:13) Are They Still Retired? (35:06) Advice for Finding FIRE (36:54) Connect with James and Emily! (37:49) Use These FIRE Tips Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-502 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Mike Baum owns just one rental property, but this one property alone has changed his life. It’s allowed him to become such an investing expert that he’s constantly being asked for his opinion on the BiggerPockets forums, and he provides some of the most well-thought-out investing advice on the internet. So why does he have just one rental property, and why doesn’t he grow using his expertise? The answer isn’t that obvious. You wouldn’t know it, but Mike is permanently disabled. After overworking so hard that he ended up losing his vision, he was placed on disability for the rest of his working career. This high achiever was forced to slow down and find something else that could replace his day job. Shortly after his diagnosis, he found BiggerPockets and turned a family vacation home into a short-term rental. Now, he’s got systems and processes that help him self-manage with very few headaches, and he will probably keep this property as his one and only rental for life. Why didn’t he “FOMO” in when everyone was gobbling up real estate in 2020? Why didn’t he grow his portfolio to become the next tycoon? Mike has some clear answers for why he did what he did, and after listening to him, you might change what you want, too. In This Episode We Cover Why you DON’T need a large real estate portfolio to find financial success when investing Why Mike tells beginner investors that they should NOT buy a short-term rental property The systems and processes Mike made to automate his vacation rental self-management (so he works less!) One thing you should do NOW before you start investing in real estate (it’s free!) The real result of “FOMO” investing and how to stop shiny object syndrome from blowing you off course And So Much More! Links Short-Term Rental & Airbnb Investing Forum The BiggerPockets Real Estate Podcast (00:00) Intro (03:03) Losing Sight After Overworking (05:53) Empty Lake House? (09:21) Managing a Vacation Rental (12:49) Know This BEFORE You Buy (18:00) Just ONE Property (21:25) No-FOMO Investing (26:49) A “Very Interesting” 2025 Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-501 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Covering your entire mortgage payment in ONE day?! Today’s guest is proof that you don’t need a full-blown real estate portfolio to start making money. She has only ever owned one property, her primary residence, but it brings in up to $16,000 a month being rented out part-time! Welcome back to the Real Estate Rookie podcast! When searching for her first home, Nicole Lulinski Weill wanted a property that could bring in some extra income. She started looking at duplexes and homes with accessory dwelling units (ADUs) before stumbling on her dream house—a vintage home that had been used for film productions—and deciding to tap into its money-making potential as well. Despite not owning any “rentals,” she can pay her mortgage with a single project. The best part? This unconventional strategy is scalable! Now that Nicole has proof of concept, she plans to buy more of these niche investments in emerging markets and rent them out in the same way! If you want to make money without house hacking or becoming a landlord, you don’t want to miss this episode! Nicole will show you where to find a money-making primary residence, how to rent out your home to film production companies, and steps to protect your home from damage along the way! In This Episode We Cover: How this rookie investor covers her entire mortgage payment in ONE day Why you DON’T need to own rental property to make money in real estate How to turn your own primary residence into a money-making machine Renting your home out to film production companies for a huge payday Crucial steps to protect your house from damage while renting it out And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Nicole’s Instagram Buy the Book “First-Time Home Buyer” Find an Investor-Friendly Agent in Your Area Real Estate Rookie 497 - $1,000,000/Year with 22 Rentals by Focusing on This Ultra-Profitable Niche (00:00) Intro (00:59) Buying (and Renting!) Her Home (10:51) Permitting & Logistics (14:42) Paying Her Mortgage in a Day?! (17:53) Protecting the Property (22:450 Extra Fees & Rental Rates (26:27) The Booking Process (37:08) Connect with Nicole! (33:39) Scaling & Revenue Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-500 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What’s the right investing strategy for YOU? In this episode, we’re going to hear from an investor who has scaled their real estate portfolio to twenty rentals in just TWO years! Despite their rapid success, they feel “stuck” and aren’t sure which strategy to use moving forward. Stay tuned as we show you how to choose the right strategy while helping them get unstuck! Welcome back to another Rookie Reply! Today, Ashley and Tony are diving into the BiggerPockets Forums and Real Estate Rookie Facebook group to answer more of your recent questions. After showing you how to nail down an investing strategy, we’ll get into landlord anonymity and provide you with several creative ways to protect your personal information from tenants. But that’s not all. We’ll also discuss short-term rental rates and share the dynamic pricing tools we use to find the “sweet spot” for ANY property or market! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: How to nail down the perfect real estate investing strategy for YOU Creative ways to hide your personal information from tenants How to return security deposits to tenants (while staying anonymous!) Determining the ideal nightly rate to charge (for your short-term rental and market!) Maximizing your Airbnb revenue with the BEST dynamic pricing tools And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube OpenPhone Google Voice PriceLabs Beyond Pricing Wheelhouse Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-499 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Don’t have a ton of money to invest in rental properties? No problem! You don’t need hundreds of thousands of dollars to start building wealth. Chris Young, a (not-so) rookie investor from Southern California, started with just five percent down. He bought a $500,000 home in pricey Los Angeles for just $25,000 out-of-pocket. Now, Chris has four rental properties, one of which he uses as a vacation home, and hundreds of thousands in equity! Plus, he did it all while working a W2! Chris knew he wanted to invest in real estate early on. So, when he started his full-time job, he also got his real estate agent license, allowing him to have a backup source of income in case his career didn’t work out. But, thankfully, his real estate has been doing more than alright! He performed a “live-in BRRRR” (buy, rehab, rent, refinance, repeat) on his first property, making him hundreds of thousands in equity, then bought another one! But, after attending BPCon, Chris knew he needed a true investment property. What gets you monthly cash flow and a vacation home to use whenever you want? A short-term rental! But not everything went as planned—one unlucky event put his entire house out of commission for months! However, Chris is still thrilled that he has bought this property. He shares why he picked its specific market, how he dodged local competition, and did it all with just ten percent down! In This Episode We Cover: How to start building your real estate portfolio with just five percent down! The “live-in BRRRR” strategy that made Chris hundreds of thousands of dollars Picking your vacation rental market and why you DON’T want to go where everyone else is Using a ten percent down second home loan to buy your first short-term rental The one very unlucky event that cost Chris $40,000 (you CAN’T avoid it!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Grab the Book, “Short-Term Rental, Long-Term Wealth” Find Investor-Friendly Lenders Real Estate Rookie 486 - Quitting His Job with Real Estate After Cracking the Cash Flow Code w/Miller McSwain Connect with Chris (00:00) Intro (02:24) 5% Down First Property (06:57) Property 2 (Rent-by-Room) (11:04) Finding 1st Short-Term Rental (19:36) 10% Down Sequoia Vacation Rental (29:26) Losing $40K! (30:01) Setting Yourself Apart (39:44) Connect with Chris! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-498 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You can make money in real estate—with or without owning rentals! How? There’s a growing segment of the industry that rookies NEED to know about. It’s more lucrative than long-term rentals, more consistent than short-term rentals, and today’s guest is bringing in $1 million a YEAR with it! Welcome back to the Real Estate Rookie podcast! Jesse Vasquez has mastered the medium-term rental strategy, bringing in over $1 million in revenue each year from twenty-two rentals. But here’s the thing. You don’t need a huge real estate portfolio to use this investing strategy and repeat his success. In fact, you don’t need to own ANY rentals to get started, making it the perfect option for new investors. But make no mistake—you’ll need to roll up your sleeves and get your hands dirty to build this type of real estate business! In today’s episode, Jesse will show you how to tap into this emerging segment of the market. You’ll learn how to build your network, land your first contract, and become a trusted “broker” for human resource and recruiting companies throughout your market. You’ll also learn the ins and outs of setting up medium-term rentals and how to convert an existing rental property into a thirty-day stay! In This Episode We Cover: The corner of the real estate industry that investors are still overlooking How to set up your own medium-term rental property in 2025 How to build your network, land your first contract, and earn money from referrals The clients that make the BEST guests (and how to find them!) Must-have amenities to include with your medium-term rental property How Jesse makes over $1 million in annual revenue from twenty-two rentals And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Buy the Medium-Term Rental Guide “30-Day Stay” Find an Investor-Friendly Agent in Your Area How to Invest in Medium-Term Rentals Connect with Jesse Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-497 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you looking to grow your real estate portfolio and build wealth faster? There’s a tax “loophole” that allows you to sell your property and roll your equity (and profits) into a bigger and better rental property—all while deferring thousands of dollars in taxes. Stay tuned to learn how to use a 1031 exchange to your advantage! Welcome back to another Rookie Reply! Today, Ashley and Tony are answering some of your recent questions from the BiggerPockets Forums. After discussing 1031 exchanges and “like-kind” properties, we’ll help an investor determine if they should sell or rent a property that, despite the potential to bring in decent monthly cash flow, has some costly capital expenditures looming. Next, is it better to stabilize a rental property by making home improvements that help you raise rent or use the same funds to buy another property? We’ll dive into the numbers and show you which option gives you the highest return! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: The tax “loophole” that allows you to defer thousands of dollars in capital gains tax Building wealth and growing your portfolio with a 1031 exchange Whether you should rent or sell a property that needs major repairs When to stabilize your current portfolio versus buying another property Prioritizing renovations that increase home value and allow you to raise rents And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Ask Your Question on the BiggerPockets Forums Put Your Vacation Rental on Autopilot with Hospitable Ask Your Question for a Future Rookie Reply Buy “The Book on Tax Strategies for the Savvy Real Estate Investor” Find Investor-Friendly Lenders What Is a 1031 Exchange in Real Estate? How to Guide & Examples (00:00) Intro (00:46) 1031 Exchanges (11:50) Should I Rent or Sell? (18:43) Making Home Improvements (23:59) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-496 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Burned out at your W2 job? Tired of climbing the corporate ladder? Starting a real estate business could give you financial freedom, but is it worth giving up the security of a biweekly paycheck? This entrepreneur thinks so, and today, she’ll give you the blueprint for forging your own path in real estate! Welcome back to the Real Estate Rookie podcast! Melissa Shelton is not only an investor, but also the founder of Dear Valentine, a business that blends luxury, hospitality, development, and management. Quitting her nine-to-five job to become a full-time entrepreneur wasn’t an easy decision since she had worked tirelessly for many years to reach the top of her field. But, in the end, her “why” won out, and she mustered up the courage to go all-in on her dream! In this episode, Melissa will show you how to launch a “small and nimble” real estate business. You’ll learn how to set goals, grow your clientele from scratch, and build a business plan that keeps you afloat. But that’s not all. Melissa also has tips for limiting overhead costs, finding deals that give the highest returns, and hiring people who propel your business forward! In This Episode We Cover: How to start a real estate business that gives you financial freedom How to get your “foot in the door” and land your first client Creating multiple income streams that insulate your new business venture Crafting the perfect “pitch” that gets new investors and partners on board How to overcome the fear of failure when pursuing entrepreneurship And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Ask Your Question on the BiggerPockets Forums Melissa’s Instagram Canva Buy the Book “The Quitter’s Manifesto” Find Investor-Friendly Lenders Stay-at-Home Mom to “Accidental” Investor with a $600K/Year Business Connect with Melissa (00:00) Intro (01:40) Catching the Real Estate “Bug” (04:59) Leaving Her W2 Job (09:42) Preparing for Entrepreneurship (21:51) A Day in the Life (23:37) Melissa’s Business Model (27:04) How to Find Clients (35:56) Staying “Small and Nimble” (39:36) Connect with Melissa! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-495 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
$50,000 cash flow from ONE rental!? Not many properties will give you this kind of return in today’s housing market, but this investor beat his competition to an innovative investing strategy, and it’s paying huge dividends. Want to find out what it is and how he did it? You don’t want to miss this one! Welcome back to the Real Estate Rookie podcast! Garrett Brown envisioned himself running restaurants or operating hotels before real estate investing took him down a different path. He got his real estate agent license, flipped a few houses, and then, in a full circle moment, put his background in hospitality to good use—buying three condos at a discount and converting them into short-term rentals. But when Houston, Texas, like many Airbnb markets, became oversaturated in 2021, Garrett landed on a new strategy that would allow him to stand out. It gives vacationers a taste of the great outdoors without sacrificing the luxuries and comfort of a cozy home! If you want to know how to earn five-figure cash flow from a single rental and keep your vacation rentals booked year-round, stay tuned. We’ll also get into why you should document your investing journey online (even if you’re just starting) and the trick to finding discounted properties! In This Episode We Cover: How this investor makes $50,000 in annual cash flow from one rental “unit” The innovative rental property that blends luxury and the outdoors How to stand out in any market by offering “unique stays” Where most short-term rental bookings are coming from in 2025 Why every rookie should document their investing journey on social media Scoring a deep discount on property by knowing a seller’s motivation And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Ask Your Question on the BiggerPockets Forums Pre-Order the Book “Smarter Short-Term Rentals” Find Investor-Friendly Lenders Real Estate Rookie 91 – 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @liliinvests Connect with Garrett (00:00) Intro (00:53) Agent to Investor (04:00) Garrett’s FIRST Deal (09:59) The Motivation to Sell (14:21) Creating “Unique Stays” (21:54) Land Hacking 101 (28:04) Permitting Challenges (32:28) Funding the Dome (35:42) Cash Flow & Bookings (44:31) Connect with Garrett! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-494 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Many people invest for appreciation. Others invest for tax benefits. But some investors want enough monthly cash flow to replace their W2 income and help them quit their nine-to-five jobs. When can you go full-time with real estate investing? How many rentals do you need? Stay tuned! Today, Tony and co-host Garrett Brown are diving into the BiggerPockets Forums, and our first question comes from someone who has launched six vacation rentals in just five years. Should they diversify their portfolio? Are they ready to become full-time investors? We’ll share our thoughts! We’ll also hear from someone who’s thinking about selling an equity-rich property to pivot to short-term rentals in the Midwest. Listen in as we show them how to choose a market and set up their Airbnb business. But that’s not all. One investor has bought a rental property that is already booked months in advance. Can they cancel those bookings? Raise their nightly rates? Stick around to find out! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: When to leave your W2 job to focus on real estate investing full-time How to diversify your real estate portfolio without changing your strategy When to sell your rental property and tap into your home equity The top factors to consider when analyzing a short-term rental market How to manage your vacation rental portfolio in five hours per week (or less!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Ask Your Question on the BiggerPockets Forums Pre-Order the Book “Smarter Short-Term Rentals” Find an Investor-Friendly Agent in Your Area Real Estate Rookie 297 – Traveling the World Thanks to One $6,500/Month Rental Property Connect with Garrett (00:00) Intro (00:36) Diversification & Leaving Your W2 (08:40) Choosing a Vacation Rental Market (17:52) Managing Short-Term Rentals (24:58) Airbnb Fees & Using Home Equity (27:58) Occupancy Rates & Pricing (33:32) Connect with Garrett! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-493 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you want to buy a rental property in 2025 but fear money could get in the way? Putting 15%-20% down is a huge hurdle for new investors, but there are several strategies you can use to limit your expenses, grow your income, and even put LESS money down. If you want to know how to save for a down payment as quickly as possible, you need these money-saving tips! Welcome back to the Real Estate Rookie podcast! Before you can invest in real estate, you need to lay a solid financial foundation, and today, personal finance expert, master live-in flipper, and co-host of the BiggerPockets Money podcast, Mindy Jensen, joins the show to weigh in on this crucial topic. Do you have your spending in check? Are you finding ways to grow your income? How’s your credit score looking? Whether you’re starting from scratch or looking to level up your finances, we’ll share some actionable steps you can take toward buying property in 2025. We’ll also talk about ways to leverage your retirement accounts to buy real estate, whether you should pay down debt before investing, and other investments (that aren’t real estate) that could help you build wealth! In This Episode We Cover: ow to go from ZERO dollars saved to a full down payment for a rental property Whether you should pay off your debt before investing in real estate Creative ways to grow your income so that you can save money faster How to avoid a 20% down payment when buying your first property Leveraging your retirement accounts to buy passive real estate investments How to build wealth with other investment vehicles (beyond real estate) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube BiggerPockets Money 97 – Intentionally Choosing the Path to Financial Independence with Financial Mechanic BiggerPockets Money 35 – Hacking Your Life to Live for (Almost) Free with Craig Curelop Qube Money Buy the Book “Real Estate Rookie” Find Investor-Friendly Lenders BiggerPockets Money 110 – Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life Connect with Mindy (00:00) Intro (01:13) Laying a Financial Foundation (06:10) Saving for a Down Payment (12:58) How to Grow Your Income (22:59) Other Investment Avenues (28:24) Leveraging Retirement Accounts (31:58) Paying Off Debt vs. Investing (41:07) Connect with Mindy! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-492 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
When interest rates rose, many investors stopped buying. But not Ryan Irwin. This rookie doubled down on real estate, choosing whichever investing strategy made the numbers work. Even in a tough housing market, Ryan’s big bet on real estate paid off, as he’s now up to seven deals and earns a solid chunk of cash flow each month! Welcome back to the Real Estate Rookie podcast! It can take a new investor months, sometimes years, to find their first deal. But when Ryan was just starting out, he did the two things every rookie should do: he told everyone he was investing in real estate, and he started attending networking events. Building these relationships has allowed him to buy multiple rental properties, flip houses, and invest in syndications—all in just five years! But Ryan doesn’t aspire to build his own real estate “empire.” He just wants a small real estate portfolio that gives him financial freedom. Now that he has several deals under his belt, he plans to stabilize his portfolio and squeeze even more cash flow out of his rental properties by refinancing and paying off his mortgages one by one! In This Episode We Cover: Why Ryan is doubling down on real estate (even in a tough housing market!) The number one thing you can do today to fast-track your investing journey Why a virtual assistant should be your first hire as you scale (and where to find one!) Two things you can do to increase your rental property cash flow Chasing financial freedom with a “small and mighty” real estate portfolio How to scale faster by automating and delegating low-level tasks And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Set for Life The House Flipping Framework Shop the BiggerPockets Black Friday Sale and Get Up to 60% Off Your Next Book Purchase Buy the Book “The Small and Mighty Real Estate Investor” Find Investor-Friendly Lenders Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio Connect with Ryan (00:00) Intro (01:31)Discovering Real Estate (07:07) Ryan’s “Lightbulb Moment” (12:49) Current Portfolio & Funding (19:03) Key Systems & Processes (28:56) Cash Flow Numbers (35:27) Advice for New Investors (36:23) Connect with Ryan! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-491 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you leaving cash flow on the table? Even if you own a single rental property, there are all kinds of strategies you can use to generate more rental income, whether it’s house hacking, renting by the room, or converting your long-term rentals to short-term rentals. And we’re just scratching the surface! Welcome back to another Rookie Reply! Today, we’re diving back into the BiggerPockets Forums to answer some more of your recent questions. First, we’ll hear from someone who’s at a crossroads with their property. This house has paying tenants and consistent monthly cash flow, but the investor would need to sell the property this year to claim it as their primary residence and dodge capital gains taxes. Stay tuned to find out if they should sell or hold! Then, after a few cash-flow-boosting strategies, we’ll discuss using a HELOC (home equity lines of credit) for a down payment and the potential pitfalls you could run into! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to determine if you should hold or sell your rental property How to reach your cash flow goals with the fewest properties possible Creative ways to maximize your rental income on a single property How to set realistic cash-on-cash return goals for 2024 and beyond Potential pitfalls to avoid when getting a home equity line of credit (HELOC) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Real Estate Rookie 447 – Making $300K+ Profit Per Rental and Scaling FAST with “DADUs” Real Estate Rookie 375 – Making $160K/Year From ONE “Rare” Property Thanks to Seller Financing Protect Your Properties with an LLC Through Corporate Direct Ask Your Question on the BiggerPockets Forums Buy “The Book on Rental Property Investing” Find an Investor-Friendly Agent in Your Area Real Estate Rookie 195 – Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties (00:00) Intro (01:01) Should I Hold or Sell? (10:13) Maximizing Rental Income (20:43) What’s a “Good” Cash-on-Cash Return? (23:40) Should I Get a HELOC? (32:36) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-490 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Today, we’re talking about the real estate deals we did in 2024. What went right, what went wrong, and what mistakes did we make that you must avoid in 2025? This year was wild for the real estate market—you probably felt it, too. Whether you were buying rentals, flipping houses, or just getting started, this year felt hot, cold, and lukewarm all at the same time. So, how did we end the year? Did we hit our 2024 goals, or was this wild housing market just too much for us? We’re sharing exactly what our 2024 goals were, whether we hit them, and what we’re planning for in 2025. We decided to give up one real estate investing strategy that wasn’t worth it anymore; we made some BIG mistakes by choosing the wrong agent, hiring the wrong people, and forgetting to systematize some properties. But we also made some solid moves that saved us when some of our deals began to fall apart. Don’t repeat the same mistakes we made—learn from them instead! Tune in, write these lessons down, and build a better real estate portfolio in 2025! In This Episode We Cover: Our 2024 real estate deals in review and the one strategy we’ve decided to ditch How choosing the wrong real estate agent can completely throw off your closing Mistakes we made by hiring the wrong people to take care of our properties (we did this three times THIS year alone) Why the right contractor is worth the extra cost (and can save your flip) Tony’s newest house flip and how he’s trying to make up for a BIG loss Our 2025 goals and why we’re deciding to scale SLOWER this coming year And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Grab the “Real Estate Rookie” Book Find an Investor-Friendly Agent in Your Area How to Start Flipping Houses for Huge Profits in 2025 (Step-by-Step!) (00:00) Our 2024 Goal Progress (10:04) We’re Giving Up On This (14:53) DON’T Choose the WRONG Agent (19:26) Hiring the Wrong People (22:30) The Right Team Pays Off (29:37) Tony’s New House Flip (33:52) Our 2025 Goals Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-489 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
At the age of twenty-seven, this “rookie” has already completed over 100 real estate deals. The key to her success? She’s been in real estate since she was just seventeen years old. Seriously! By starting early and taking action, she has been able to make mistakes, sharpen her skills, and set herself up for success! Welcome back to the Real Estate Rookie podcast! While her peers headed off to college, Dominique Gunderson got her real estate license and started learning the ropes. Before long, she was wholesaling—using direct mail, flyers, cold calling, and other strategies to complete more than forty deals in just eighteen months. But that’s not all. She then used these profits to buy her first rental property in cash when she wasn’t yet lendable. Once she was priced out of her hometown of Los Angeles, she turned to New Orleans, where she started flipping houses remotely! Today, Dominique manages several projects simultaneously, and in this episode, she will walk you through her process for doing a long-distance flip—from building an out-of-state team to estimating rehab costs and managing contractors from afar. You’ll even learn about her exit strategy for the properties that don’t sell: the BRRRR method! In This Episode We Cover How to find off-market real estate deals and flip them for a profit in 2025 The key adjustments house flippers need to make in today’s housing market How to build your team for long-distance real estate investing The number one red flag to watch out for when hiring a general contractor Crucial tips for managing an out-of-state renovation project Estimating rehab costs and building a scope of work from hundreds of miles away How to fund your fix and flips (without the banks) through private money lending And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-488 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to estimate your NOI (net operating income) BEFORE you buy a rental property? Calculating NOI in real estate isn’t hard, and after doing this dozens and dozens of times, we’re sharing how to estimate things like taxes, insurance, and maintenance costs so you know you’re buying a killer deal. Speaking of first deals, how much do you need to get started investing? $20K? $50K? $100K? A fellow rookie has $70K ready to invest but doesn’t know the next best move. We’re sharing exactly how they should start, and you can copy these steps no matter how much money you have. It wouldn’t be a Rookie Reply if we didn’t discuss tricky tenant situations. One investor has a tenant who is FED UP with a broken outlet. Sounds pretty reasonable, right? Well, the tenant is giving the landlord an unreasonable ultimatum. What should the investor do? Let the tenant take care of things on their own (and potentially damage the property) or put their foot down and follow the lease agreement? Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to estimate your taxes, insurance, and maintenance costs before you buy a rental property The expenses that short-term rental investors always forget when running numbers How to respond to a tenant when they’re sending you unreasonable maintenance requests The first step you should take when deciding to invest in real estate How to get your first rental with just $70K (or less) and mistakes beginners make And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube BiggerPockets Agent Finder BiggerPockets Market Finder BiggerPockets Real Estate Investment Calculators Real Estate Market Analysis for Beginners | Rookie Resources Hug Your Haters NeighborhoodScout BrightInvestor Protect Your Properties with an LLC through Corporate Direct Analyze Rental Properties Faster with “Real Estate by the Numbers” Property Manager Finder How to Invest in Real Estate with $50K in 2024 (00:00) Intro (01:04) Calculating NOI (08:36) Estimating Maintenance Costs & Other Fees (11:48) Unreasonable Tenant Requests? (23:49) Start Investing with $70K Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-487 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to quit your job with real estate investing? Rookie investor Miller McSwain has a strategy anyone can copy to make serious cash flow. This investing strategy is rookie-friendly and allows you to learn the real estate investing ropes while making serious money. Miller now has six properties with forty-one units in total, and today, he’s sharing this easily repeatable strategy for quickly building wealth. Miller will be the first to tell you that his “coliving” strategy is not rocket science. He should know—he’s a former rocket scientist. After house hacking and renting out the rooms in his home, he realized how much cash flow the rent-by-the-room strategy makes. But instead of buying houses with as many rooms as possible, he began focusing on community living and homes with inviting common spaces, allowing for higher rents. So, how do you start with this strategy? Miller explains, in detail, precisely what makes a great coliving investment property, how to market your rooms to get the most tenants possible, and what to do when conflict arises between roommates. After six properties, he’s still hunting for more, and if you’re looking for higher cash flow rentals, this is a strategy you should definitely try. In This Episode We Cover: How to quit your job and become a full-time real estate investor with “coliving” Coliving explained and why it is NOT the same as renting by the room Miller’s exact “buy box” and what makes a property perfect for coliving Marketing your rooms online and how to quickly screen tenants without taking a hundred phone calls Handling tenant conflict and what to do when roommates aren’t getting along The easiest (and arguably cheapest) way to invest in your first coliving property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Miller’s Instagram Supply Mate Start Your Real Estate Portfolio with “The House Hacking Strategy” Find an Investor-Friendly Agent in Your Area What is Co-Living and How Can It Help Your Multifamily Property? Connect with Miller (00:00) Intro (03:09) Quitting His Job! (07:01) Current Portfolio + Coliving 101 (16:56) How to Handle Coliving (24:16) Marketing Your Rooms (26:11) Screening Roommates (34:26) Full-Time Investor Life! (36:13) Tips to Start Coliving (37:32) Connect with Miller! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-486 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
This rookie has grown his real estate portfolio to seven properties, $5,000 in monthly cash flow, and over $1 million in total equity in just SIX years. His strategy isn’t flashy or sexy, but it’s highly repeatable. Even the greenest investor can use it to snowball one rental property into the next! Jefferson Calloway was plunged into the world of real estate after meeting the world’s best tenant—an investor and mentor who not only sold Jefferson his first property but also moved in and knowingly rented it from him for a profit! Through this experience, Jefferson quickly learned the incredible scalability of buying properties owner-occupied, converting them into rentals, and repeating the formula. Now, through the power of delegation and automation, he earns active income from near-passive investments that require just one hour of his time each week. This allows him to focus on his home remodeling business, where he earns even more income to pour into real estate! As you’re about to learn, you can find great investment properties in virtually any market, but you’re going to need the right people in place when investing out of state. In today’s episode, Jefferson provides the blueprint for finding more on-market and off-market real estate deals in competitive markets, building out teams, and mitigating risk within your portfolio! In This Episode We Cover: The formula Jefferson used to scale to seven properties in just six years Cash flow versus appreciation (and why you DON’T have to choose one!) The best ways to find better on-market and off-market real estate deals Why you should always analyze your short-term rentals as long-term rentals The investing strategy that can help you mitigate risk within your portfolio The key to turning your rental properties into near-passive investments And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Buy the Book “Scaling Smart” Property Manager Finder Traveling the World Thanks to One $6,500/Month Rental Property Connect with Jefferson (0:00) Intro (00:39) Buying His First Property (05:54) Jefferson’s Portfolio (10:10) Sourcing Deals in Hot Markets (15:37) Jefferson’s Buy Box (21:11) Cash Flow vs. Appreciation (30:18) How to Find a Property Manager (34:09) Equity and Cash Flow Numbers (39:33) Connect with Jefferson! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-485 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
How much should your down payment for investment property be? Should you increase your down payment to maximize cash flow, or does putting all your financial eggs in one basket limit your ability to build and scale your real estate portfolio? Or should you instead pay off that high-interest-rate mortgage early to keep all the cash flow at the end of the month? We’re answering these questions in today’s Rookie Reply! With high mortgage rates, one rookie asks whether it’s better to pay off their home with a seven percent rate INSTEAD of investing in more rentals. Paying off that loan gets you an automatic return, but there’s a strong argument as to why it isn’t the best move. Are you doing your first house flip? Another rookie wonders whether they can negotiate when taking on a hard money loan and if the juice is worth the squeeze for a $50,000 profit on their first flip. Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: Investment property down payments and how much you should put down to prioritize cash flow Whether to keep investing or start paying off your high-interest-rate mortgages Why you can’t just look at the cash flow when analyzing a potential investment Financing a house flip and negotiating with a hard money lender (should you negotiate?) What you should ALWAYS do before you take on a house flip to ensure your numbers are right And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Protect Your Properties with an LLC through Corporate Direct Ask Your Question on the BiggerPockets Forums Grab the New Book, “The House Flipping Framework” Find Investor-Friendly Lenders Stop! Before Making a Large Down Payment, Read This (00:00) Intro (01:00) How Much to Put Down? (11:42) Pay Off High Rate Mortgage? (17:49) Financing a House Flip (24:47) Is This Deal Worth It? (29:24) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-484 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Can you still make huge profits from real estate in today’s market? While high interest rates and inflated home prices can make it difficult to find a cash-flowing rental property, there’s another strategy that delivers big returns—if you can stomach the extra risk: house flipping! Welcome back to the Real Estate Rookie podcast! James Dainard is a master house flipper, co-host of the On the Market podcast, and, most recently, author of The House Flipping Framework. With over eighteen years of real estate investing experience and more than 3,500 projects under his belt, James knows more than a thing or two about this lucrative investing strategy. Today, he joins the show to share a few tips from his new book—like how to find the right deal, choose high-quality contractors, and keep your project on budget! Whether you’re new to flipping houses or you need help with home renovations, this episode is loaded with advice to help you start and stand out. You’ll learn everything from choosing a market and analyzing distressed properties to building your team, estimating rehab costs, and more! In This Episode We Cover: How to start flipping houses and stand out in a tough housing market The “biggest lie” in real estate that will stop you from making a profit Why finding a flip-friendly real estate broker is crucial to your success How to calculate your annualized return (and why it matters for house flips) How to choose the right market and build your team for out-of-state projects The step-by-step process for building out an accurate scope of work Staying on budget (and on schedule) with cost-effective home renovation tips And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Put Your Vacation Rental on Autopilot with Hospitable Buy James’ New Book “The House Flipping Framework” Find an Investor-Friendly Agent in Your Area Flipping Houses: How to Get Started and Everything You Should Know Connect with James (00:00) Intro (01:11) Planning Your Project (05:48) House Flipping Returns (14:39) How to Choose a Market (19:11) Building Your Team (26:06) Estimating Rehab Costs (36:09) 3 Tips for Selling Flips (39:49) Connect with James! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-483 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Can you still find great deals in today’s cutthroat housing market? Of course! But you may need to go off the beaten path. Rookie investor Karl Denton looks beyond the MLS (multiple listings service), focuses on undervalued and distressed properties, and even does his own home renovations to create value. If he can do it, YOU can, too! Welcome back to the Real Estate Rookie podcast! Karl has a superpower—finding hidden gems that other investors overlook. And he’s not doing anything that you can’t. Even as a full-time firefighter, he still finds time to attend meetups, go to foreclosure auctions, build his own lists, and contact homeowners about their properties. So far, this strategy has allowed him to find, buy, and fix three properties in three years! Want to replicate his success? Tune in as Karl walks you through each step of the BRRRR method (buy, rehab, rent, refinance, repeat). Along the way, you’ll learn where to find undervalued properties, how to manage out-of-state renovations, and when to do a cash-out refinance. You’ll also hear about Karl’s big pivot from long-term rentals to short-term rentals and the huge cash flow boost that came with it! In This Episode We Cover: How to find, fund, and fix distressed or undervalued homes in 2024 Why the BRRRR method still works in today’s challenging market Three ways to buy properties with tax liens (and why they make GREAT investments) Crucial tips for managing an out-of-state home renovation project When to pivot from one investing strategy to another based on your market Why you should focus on stabilizing your real estate portfolio before scaling it And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Buy the Book “Buy, Rehab, Rent, Refinance, Repeat” Find an Investor-Friendly Agent in Your Area Making $300K+ Profit Per Rental and Scaling FAST with “DADUs” Connect with Karl (00:00) Intro (00:46) Buying His First Property (03:55) The BRRRR Strategy (11:37) Karl’s Portfolio & Auctions 101 (20:40) DIY & Out-of-State Renovations (29:54) When Should You Refinance? (33:55) Switching to Short-Term Rentals (41:35) Revenue & Tips for Rookies (47:47) Connect with Karl! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-482 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You’re planning to move soon and are asking yourself, “Should I sell or rent my house?” What if you’ve got little-to-no cash flow potential? Is future appreciation worth betting on? Maybe you need to renovate before you sell or rent; now, the question becomes, “How to finance home renovations?” Don’t stress; we’ve got you covered on all fronts in this episode as we walk through how to decide whether to sell or rent, the best ways to fund home renovations, and answer the mother of all rookie questions, “Is house hacking dead?” With mortgage rates rising yet again and home prices still unaffordable in many areas of the country, does house hacking (renting out other rooms/units to pay your mortgage) still make sense? What if you can’t live for free anymore? Should you abandon the house hacking strategy entirely? We have some interesting thoughts on why we would or wouldn’t house hack in this housing market. Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: Whether you should sell or rent your primary residence once you move out The math behind house hacking and whether high interest rates ruined this strategy How to finance home renovations on your next rehab project Taking out a line of credit on your investment properties to fund future investments Whether to convert your property into a short-term rental (more work) or keep it as a long-term rental (less work) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Protect Your Properties with an LLC through Corporate Direct Ask Your Question on the BiggerPockets Forums Grab “The House Hacking Strategy” Book Find Investor-Friendly Lenders Should You Sell Your House or Rent It Out? (00:00) Intro (00:49) Sell or Rent Out Your House? (07:12) Short-Term vs. Long-Term Rentals (08:47) Bet on Appreciation? (12:41) How to Finance Home Renovations (18:48) Is House Hacking Dead? (26:41) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-481 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Real estate investing could help you achieve your financial goals, whether it’s to make enough cash flow to replace your W2 income or build wealth for an early retirement. Like many, today’s guest is chasing financial freedom, and thanks to a unique property that brings in $5,000 in monthly cash flow, he’s well on his way! Welcome back to the Real Estate Rookie podcast! Rocky Gibson knew he wanted to invest in real estate since his college days, so after landing his first “real” job out of school, he wasted no time buying his first property. Since then, it’s been full speed ahead for Rocky, and in just five years, he has built and scaled his real estate portfolio from zero to fifteen units and two flips. His main investment property, an eleven-unit RV park, nets $5,000 per month alone! In this episode, Rocky talks about the power of renting by the room, leveraging your personal network, and using home equity to grow your portfolio and get access to private deals. You’ll even hear about the $100,000 mistake that Rocky almost made and how altering his strategy allowed him to not only salvage the deal but also make a profit! In This Episode We Cover: How Rocky built his real estate portfolio up to fifteen units (and two flips) in just five years The unique property that can give you $5,000 in monthly cash flow Why house hacking is the BEST investing strategy when you’re just starting out How to achieve financial freedom through real estate investing Creative ways to fund more rental properties without traditional bank financing How altering his strategy on the fly helped Rocky avoid a $100,000 mistake And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Put Your Vacation Rental on Autopilot with Hospitable Buy the Book “Real Estate Campgrounds” Find an Investor-Friendly Agent in Your Area How to Start Making Millions from These Overlooked RV Park Investments Connect with Rocky (00:00) Intro (00:31) Why Real Estate? (04:23) House Hacking 101 (12:01) Building the RV Park (19:47) Tapping Into His Network (27:28) Funding the Campers (30:17) Cash Flow & Investing Goals (34:57) Cash Flow & Investing Portfolio (35:49) Connect with Rocky! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-480 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Can you start investing in real estate WITHOUT a stable W2 job? How will you get a loan? What happens if you have a fluctuating income? Are you completely out of luck? Not at all! Today’s guest, David Sladewski, proves that you can STILL invest in real estate no matter your age, experience, or whether you have a “stable” job. At just twenty years old, he already has three rental units and a live in flip; plus, he did it all while self-employed. At the age of seventeen, David learned about real estate from his brother. Poised to become his own boss and make money without an earning “ceiling,” he decided that getting his real estate license and becoming an agent was the best bet. Within half a year, he went from having no money to building a solid real estate agent business and was ready to invest. The problem? Lenders WON’T give you a loan without multiple years of income history. But that didn’t stop David. He was able to buy a great first rental property, a duplex, thanks to one brilliant move. David then found other lender “loopholes” that helped him close on his dream rental property and a flip he’s working on as we speak. How did he get around the seemingly impossible task of finding funding WITHOUT a W2 job? Stick around to find out! In This Episode We Cover: Why you DON’T need a W2 job to start investing in real estate Doing your first real estate deal with ZERO experience and why you MUST “bet on yourself” Real estate partnerships for beginners and how to invest without having a ton of money The lender “loophole” David found after going through FOUR different mortgage lenders (try this, too!) Why you should live in your rental property BEFORE you rent it out Doing a “live in flip” and home renovation mistakes that David learned the hard way And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Easily Identify Great Investing Markets with BiggerPockets Market Finder Grab Ashley and Tony’s Book, “Real Estate Partnerships” Find Investor-Friendly Lenders BiggerNews: This Area Has the BEST Cash Flow Potential in the Country Connect with David (00:00) Intro (01:08) Starting at Just 17 (06:04) First Deal WITHOUT Stable W2 (13:15) Structuring a Partnership (14:43) Finding a Lender Loophole (20:53) Home Run Rental in THIS Neighborhood (24:52) Trying to Flip a House (33:48) Future Goals and Advice Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-479 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to build your rental portfolio FAST? Today, we’re teaching you how to buy multiple rental properties per year, the best tips to raise rents while keeping tenant turnover low, and what to know before you start buying houses at auction. Each of these topics will help you not only build a real estate portfolio but also keep it profitable so you can reach financial freedom and realize your goals faster! Since it’s a Rookie Reply, you know that these are all real questions coming directly from real estate rookies, just like you. First, an investor wants to know how to buy multiple houses per year, especially when you’re locked into an owner-occupied mortgage. While you may not be allowed to move for at least a year, we’ve got some strategies to help you buy rentals on the side. Next, what happens when you’ve inherited tenants paying under-market rent? How do you raise rents without increasing vacancy? Finally, buying homes at auction may be a killer strategy to find deeply discounted real estate deals, but there are some red flags you MUST know about before you bid... Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to buy multiple houses a year using primary and investment property loans Our best tips to make (or keep) more money so you can invest even faster Inheriting tenants and how to raise rents without causing tenant turnover Buying properties at auction and the non-refundable deposit that you must be aware of Why you always (always!) should budget more for home renovations on auction-bought houses And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Rookie 463 - The “Lazy” Landlord’s Guide to Finding (And Keeping) Tenants & Raising Rents Real Estate Rookie YouTube Protect Your Properties with an LLC through Corporate Direct Grab the Book “Real Estate Partnerships” Find Investor-Friendly Lenders Rookie 127 - Buying Property While Stationed Overseas (and a $40k Rookie Mistake!) w/Angel Garcia (00:00) Intro (00:57) Buy Multiple Rental Properties a Year? (06:39) How to Raise Rents (14:13) Buying a House at Auction Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-478 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to know how to flip a house in 2024? We brought on a rookie with a real-life deal to walk through every beginner step of flipping houses so you can go out and make money, too! We know Rene Hosman as our community manager here at BiggerPockets, but she’s also a brand new house flipper! She just got her first house flip under contract, so we’ll be bringing her on the show to share her progress and teach YOU how to do it today. In part one, Rene describes how she found this deal in the pricey and competitive Denver, Colorado, area. Next, when she wanted to make an offer on the property, she realized it HAD to be made in cash, but she didn’t have the funds. What did she do? She found a lender who lent her the money in just around twenty-four hours! Don’t think it’s possible? Rene shares exactly how she found this lender, how much they charge, and why she went with them. Next, how do you estimate rehab costs for a home renovation? Rene brings her ACTUAL house flipping budget to show off in today’s episode, plus where she’s finding materials and how much of a financial “buffer” she’s giving herself (in case something goes wrong). In This Episode We Cover: How to flip your first house in 2024 by following Rene’s basic steps Flipping a condo and how already owning in the building can be a HUGE advantage Private money lenders and how to fund your first flip in just twenty-four hours! How to estimate rehab costs and why you MUST give yourself a “buffer” The exact costs Rene will pay to fund this $190,000 flip And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Start with Strategy House Flipping Investing Calculator Rehab Cost Estimate Calculator Follow Rene’s ACTUAL House Flipping Budget Learn How to Flip Houses with “The House Flipping Framework” Find Investor-Friendly Lenders Flipping Houses: How to Get Started and Everything You Should Know Connect with Rene (00:00) Intro (02:49) Buy the Whole Building? (07:14) Making a QUICK Offer (10:37) Finding $190K in 24 Hours (17:20) Private Money Lending Numbers (21:03) Renovation Budgeting (25:49) Renovation Timeline and Plans Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-477 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Today’s guest bought his first rental property within just ninety days of learning about real estate investing. So, if you’re wondering how to buy a rental property or get started with out-of-state real estate investing ASAP, Jeff Costa is the person to listen to. Instead of sitting in analysis paralysis, Jeff knew it was CRUCIAL to pull the trigger on an investment property once he had heard the podcasts, read the books, and felt educated enough. Within just two years, Jeff has bought two small multifamily rental properties, with a combined four units total, bringing in $1,300/month in cash flow! He was EVEN able to do this recently with higher mortgage rates, and shares EXACTLY what he was looking for, how much money the properties cost, where he chose to invest in real estate, and every FREE tool he uses to do market research BEFORE buying from a distance. If you’re tired of waiting to get in the game but still feel nervous to invest in your first rental, you NEED to listen to this episode. Jeff describes, in detail, each step he took that allowed him to build his rental portfolio fast and a few tips that’ll stop you from choosing the WRONG property manager on your first or next rental property purchase. In This Episode We Cover: How to start buying out-of-state rental properties in the next ninety days The free tools that Jeff uses to scope out a market before he invests in it Why Jeff went “turnkey” on his first investment property (and why you should, too) How to pick a property manager and red flags to look for when interviewing for one Why you must (MUST!) have emergency reserves before you buy your first rental And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Try BiggerPockets Property Manager Finder Grab the Book on “Long-Distance Real Estate Investing” Property Manager Finder 78 Questions To Ask A Property Manager Before Hiring Them Connect with Jeff (00:00) Intro (01:06) Ditching Stocks for Rentals (03:57) Buying a Rental in 90 Days! (08:49) First Rental ($500/Month Cash Flow!) (13:47) Market Research (16:02) Second Rental ($800+/Month Cash Flow!) (21:24) How to Pick a Property Manager (28:58) Next Steps and Rookie Advice Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-476 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to know how to find off-market properties WITHOUT cold calling and talking to sellers all day? Where is the best place to find furniture for your short-term rental or Airbnb? Is real estate wholesaling nearing its end as buyers and sellers get frustrated with these middlemen? It’s another Rookie Reply, so we’re taking these questions (and a few others) and answering them on this episode! First, if you have a long-term and short-term rental on the same lot, how do you keep the tenants and the guests from creating conflict? Plus, how do you furnish a short-term rental so you aren’t replacing couches every few months? To get a great deal like this in the first place, you might need to find off-market properties with undervalued prices. Do you go through a wholesaler or find off-market real estate deals yourself? We’ll share our advice for both! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: The MANY ways to find off-market real estate deals that don’t include cold calling Why investors and sellers are starting to get frustrated with real estate “wholesalers” Ashley and Tony’s favorite stores to find durable furnishings for your short-term rental Tony’s quick tip to avoid bed bugs in your rental property (it’s easy and cheap!) The first thing you should say when approaching a potential seller And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie 468 - How to Start, Manage, and Scale an Airbnb Business in 2024 Real Estate Rookie 326 - The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals Ask Your Question on the BiggerPockets Forums Ready to Find Deals? Grab the Book “Real Estate Deal Maker” Find an Investor-Friendly Agent in Your Area A New South Carolina Law Would Severely Crack Down on Wholesaling (00:00) Intro (01:14) STR and LTR on the Same Lot? (05:50) Best Furniture for Short-Term Rentals (09:30) How to Avoid Bed Bugs! (10:47) Is It WRONG to Wholesale Real Estate? (21:28) Advice for Wholesaling (23:35) How to Find Off-Market Deals (29:43) How to Approach Sellers (32:37) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-475 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
This rookie investor decided that instead of purchasing her own home, she’d buy rental properties in other areas, helping offset her high cost of living. Within just around a year, Mary Ho has bought a run-down property, performed a six-figure renovation project, got her first renters, refinanced the property, and then bought ANOTHER rental right after! Now, she’s sitting on two properties with three units in total, managing her rentals remotely and building wealth without the traditional boundaries. Mary and her family live in Manhattan, an infamously expensive real estate market. She and her husband wanted to invest, but there was no way they could do it locally. So, she decided to start investing with “training wheels”—investing in a market she was familiar with that was within driving distance of her. She went WAY over budget on this first property, but it worked out in a way that would help her with deal number two! From there, she went much farther, buying a multifamily property over a thousand miles away from home. How did she handle renovating, furnishing, and finding tenants, all while she was so far from her new property? How does she juggle it all with her job and kids to take care of? What’s the secret to her productivity? She’s sharing it all in this episode! In This Episode We Cover: Where mortgage rates are right now for refinances and HELOCs The HELOC hack that greatly minimizes your interest in your next equity line Caeli’s interest rate forecast and where she thinks rates could be in the near future When waiting to refinance could cost you, and whether rates may go UP again The metrics that influence where mortgage rates will go next (what to pay attention to) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Find Trusted Property Managers with BiggerPockets Property Manager Finder Get the Book on BRRRR “Buy, Rehab, Rent, Refinance, Repeat” Find an Investor-Friendly Agent in Your Area Should You Invest Locally or Long Distance? Connect with Mary Mary’s Instagram (00:00) Intro (01:52) Interest Rate Update (06:34) Why Rates Went UP (11:59) Should You Refinance? (18:17) Current Refi Rates (19:37) Best HELOC Hack (29:01) Interest Rate Forecast Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-474 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Your first rental property is out there; it just may not be where you live. Austin Wolff came to this conclusion quickly. After paying his “cheap” rent of $1,600 per month for a small place in Los Angeles, he knew he needed to start saving up the money to buy his first investment property if he was ever going to afford to live in Southern California full-time. So, he began compiling a list of America’s most affordable, growing real estate markets. He found what he believed to be the best bet, packed up his bags, and moved 1,500 miles away to get the deal done. He left behind his friends, girlfriend (don’t worry, they’re just doing long-distance now), and filmmaking passion temporarily to do what he felt was best to build wealth. What was the real estate market so good he couldn’t let it pass him by? How did he get into his first property with just five percent down and only $25,000 in cash? And why does he believe NOW is the time to buy? Stick around to hear why this real estate-focused data scientist made such a radical move in the name of financial freedom and exactly how he analyzes markets and rental properties to see whether they’re worth the effort. In This Episode We Cover: Moving 1,500 miles away to “house hack” in a much cheaper market Ranking the top affordable, growing real estate markets in the country How to get into your first investment property for just five percent down! Conventional vs. FHA loans and what Austin thinks is the better option for rookies Austin’s deal analysis formula that will get you more accurate cash flow estimates Serious advice for rookies and why waiting on the sidelines could cost you And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group BiggerPockets Deal Finder BiggerPockets Lender Finder Find Your Perfect Market with “BiggerPockets Market Finder” Grab “The House Hacking Strategy” Book Find an Investor-Friendly Agent in Your Area The 10 Best Markets for Your First House Hack Connect with Austin (00:00) Intro (01:01) Film Director to Data Scientist (03:56) Ranking the BEST Markets (09:41) Saving Money EVEN in LA (12:32) Moving 1,500 Miles for First Deal (20:59) Financing, Rent, and Management (25:32) Future Goals and Next Steps (28:35) Advice for Rookies Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-473 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Let’s say you’ve got $40,000 to invest. You could split the money into two down payments and buy more properties or partner with someone with money and build a bigger real estate portfolio. But even though you CAN do this, it might be a better idea to stay a small investor. Why? We’re talking about it in this episode, along with some of the regrets we have from scaling far too fast. Welcome back to another Rookie Reply! Today, we’re showing you how to run real estate “comps” to find the right rent and asking prices for properties, plus whether or not your new rental will have enough demand to stay occupied. We’ll also discuss when a house is TOO big to house hack and how to find tenants for a rent-by-the-room investing strategy. Finally, can you buy more than one rental a year? Yes! But be careful, doing this could put you in a dangerous spot (we’ll explain why). Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to run “comps” in real estate and estimate rent prices accurately Whether or not a neighborhood is worth investing in with many units for rent already Why you may NOT need to buy a huge house for house hacking Finding tenants when using the rent-by-the-room investing strategy How to build a real estate portfolio with $30,000 - $40,000 And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Try the BiggerPockets Rent Estimator Ask Your Question on the BiggerPockets Forums Learn the Real Estate Formulas with “Real Estate by the Numbers” Find Investor-Friendly Lenders Real Estate Rookie 287 - From 70 Hour/Week Burnout to Getting Paid to Buy Properties w/Danielle Daly (00:00) Intro (00:44) Comping Rent/Home Prices (08:21) Too Big House to Hack? (16:25) Starting with $40K and Scaling SMALL (26:23) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-472 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Has the Airbnb market become TOO saturated? It might not matter if you can rise above the competition and make your property stand out like Katie Cline did. Thanks to luxury amenities, personalized touches, and an unforgettable guest experience, her two rental properties bring in a whopping $30,000 in annual cash flow! Welcome back to the Real Estate Rookie podcast! When Katie saw a golden opportunity to combine her extensive background in hospitality with real estate investing, she bought two short-term rentals and focused all of her energy on creating places where she would want to vacation. In just eighteen months, this move has already paid off, as this pair of New York properties generates constant five-star reviews and a huge amount of profit that helps build her real estate portfolio! In this episode, Katie offers some game-changing advice that will elevate your property, increase your bookings, and boost your cash flow. Tune in to learn about the “little” details that will raise your bottom line, using social media as a powerful marketing tool for your business, and the two things Katie believes will set new investors up for success! In This Episode We Cover: How Katie makes $30,000 in annual cash flow from just TWO rentals Making your vacation rental stand out in a saturated market The keys to crafting an unforgettable guest experience for your Airbnb The luxury amenities and personalized details that will explode bookings How to use the power of social media to grow your Airbnb business Two types of short-term rental portfolios (and which one you should build!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Try Baselane, the One Platform for All Your Property Banking & Finances Buy the Book “Short-Term Rental, Long-Term Wealth” Property Manager Finder The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit Connect with Katie Katie’s Instagram (00:00) Intro (01:35) Hospitality in Real Estate (03:02) The Lake George Property (06:54) Making Your Rental Stand Out (13:23) Airbnb Strategy & Using Social Media (19:52) The Saratoga Property (23:53) Katie’s Investing Goals (28:45) HUGE Cash Flow Numbers (32:13) Connect with Katie! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-471 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you want to buy your first rental property but can’t find affordable real estate in your area? You’re not alone! As a science teacher living in New York City, Lauren Mattina was priced out of her own market. But a simple move helped her find a cash-flowing property and brought her one step closer to financial freedom, and YOU could do the same! Welcome back to the Real Estate Rookie podcast! Lauren never had a high-paying job, but she knew that real estate investing could give her the option of early retirement. So, she continued living below her means and saved for her first property. With NYC out of the question, she turned her attention to Oklahoma City, where she found, bought, rehabbed, and rented out her first single-family home! Are you being priced out of your own backyard? In this episode, Lauren will show you the steps she took to choose an out-of-state market, analyze her first deal, and build an out-of-state investing team. You’ll learn the secret to overcoming analysis paralysis, how to properly vet a property manager, and how to get your offers accepted in a hot market! In This Episode We Cover: How Lauren bought her first rental property (on a teacher’s salary) Analyzing rental properties (and markets) as a complete beginner How to find up-and-coming, out-of-state markets to invest in The number one thing that will help you overcome analysis paralysis The “rule of three” to follow when building your real estate investing team How to make your offers more enticing in a competitive market And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Ask Your Question on the BiggerPockets Forums BiggerPockets Team Builder Buy the Book “Long-Distance Real Estate Investing” Find an Investor-Friendly Agent in Your Area How to Choose an Out-of-State Market for Investment (in 3 Easy Steps!) Connect with Lauren (00:00) Intro (01:13) Why Real Estate? (06:55) Lauren’s First Deal (13:25) Out-of-State Investing 101 (20:34) How to Build Your Team (25:12) Buying the Next Property (28:35) Advice for New Investors (29:20) Connect with Lauren! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-470 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Investing for cash flow or equity is an age-old debate, but what’s the best approach for a new investor? Should you focus on making a monthly profit right off the bat or play the long game with equity growth and appreciation? You might be surprised to hear where Ashley and guest co-host Noah Bacon land on this topic! Welcome back to another Rookie Reply! How much money do you actually need to buy your first rental property? Should you put down as little as possible and use debt to get your foot in the door, or is it best to save enough cash for a large down payment, closing costs, and reserves? We’ll break down your best options. Finally, house hacking can help you get started in real estate, but eventually, you may want to move out and put your unit up for rent. We’ll discuss whether you should get a property manager or self-manage from afar when that time comes! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: Cash flow versus equity (and which one new investors should focus on!) Which property types deliver the highest cash flow (or appreciation) Leveraging the power of partnerships to help fund your first deal How much money you need to save before buying your first property How to transition out of a house hack (and whether you need a property manager) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Ask Your Question on the BiggerPockets Forums Buy Ashley’s Book “Real Estate Rookie” Find Investor-Friendly Lenders Should You Invest for Equity or Cash Flow? Connect with Noah (00:00) Intro (01:31) Cash Flow vs. Equity (11:26) Replacing Your W2 Income (14:43) Saving Cash & Using Debt (24:59) How Much Money Do I Need? (28:32) Exiting a House Hack (36:03) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-469 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you want to break into the short-term rental space? It’s not as simple as picking a popular market, buying a rental property, and listing it online. To have a successful Airbnb business, there are three crucial steps you need to take, and we’re going to break them down in this episode! Welcome back to the Real Estate Rookie podcast! In just four years, Tony and Sara Robinson have built a very successful vacation rental portfolio that is on track to make over two million dollars in revenue in 2024. Today, they’re going to discuss the most important components of their business, what they wish they had known before they started, some of the biggest mistakes they’ve made along the way, and what has allowed them to scale so quickly. We’ll start at square one, helping you devise a game plan and analyzing markets to invest in. Then, we’ll show you how to make your property stand out with several helpful (and affordable) furnishing and design tips. Finally, we’ll show you how to craft systems and processes that will allow you to streamline management and scale your portfolio to multiple properties across several states! In This Episode We Cover: Three steps to build and scale a successful Airbnb business The most crucial data points to consider when analyzing rental markets When to buy the “cheaper” property and budget for design and amenities instead Affordable furnishing and design hacks that will elevate your property The best tips, tools, and tech for streamlining short-term rental management Investing in an out-of-state market (and why it’s easier than you think!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Breezeway Stessa Easily Identify Your Next Market to Invest in With the BiggerPockets Market Finder Buy the Book “Short-Term Rental, Long-Term Wealth” Property Manager Finder Investing in Short-Term Rental Properties: A Beginner’s Guide & How to Get Started (00:00) Intro (01:08) Keys to a Successful Airbnb (06:00) Step 1. Analyze Your Market (09:48) Step 2. Make Your Airbnb Stand Out (16:17) Step 3. Scale Your Business (24:44) Tips for New Investors (27:24) Check Out the Forums! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-468 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Three years ago, Luke Otto knew next to nothing about rental properties. His interest was instantly piqued when he got into a conversation about real estate investing with an old friend. He went home and immediately started reading The Book on Rental Property Investing, and from there, he knew what his next move was. Shortly after, he was at the closing table, feeling the “fear” of putting a five-figure down payment on a rental property. Did it work out for Luke? It did, indeed! Fast forward to today, Luke has an eight-unit rental property portfolio and has become the investing “expert” in his group. He’s done what most rookies wouldn’t even think of, taking on renovations of old, outdated homes and turning them into performing rental properties for his portfolio. He’s done seller financing, got five percent interest rates (yes, even in TODAY’s market), and did most of it while self-managing his portfolio remotely and working a full-time nine-to-five. Luke has taken the right risks, leveled up his skills to scale the right way, and made massive progress in a short amount of time. Today, he shares how he pushed through fear to build wealth, when to hire a property manager, and how having the right agent can help you explode your real estate portfolio. In This Episode We Cover The “fear” of investing in your first rental property (and why it’s OKAY to be scared) Real estate partnerships and how to invest even when you’re low on cash Why you DO NOT need to quit your job to build a sizable real estate portfolio The gold of old and why outdated homes may make great renovation projects HELOCs, seller financing, and other creative ways to buy more real estate How to get deals sent straight to you by having an investor-friendly agent And So Much More! (00:00) Intro (01:14) Finding Real Estate 3 Years Ago (05:36) First Deal FEAR (08:11) First Deal Numbers (13:37) Scaling to 8 Properties! (18:52) Get Properties Sent to YOU! (22:10) Restoring Old Homes (24:42) Seller Financing Deals (28:56) Creating a 5% Interest Rate (32:33) Balancing a W2 and Real Estate (35:02) Advice for Rookies Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-467 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Floods, evictions, and bad property managers on ONE rental property?! These are the kinds of things that spook rookies out of real estate investing altogether. Fortunately, many of these issues are avoidable, and today, we’ll equip you with some property-saving advice that could help you prevent a major blunder! Welcome back to another Rookie Reply! While scouring the BiggerPockets Forums this week, we stumbled on a full-blown horror story that involves several problems with the same property. Tony and guest co-host Noah Bacon have encountered similar issues throughout their investing journeys, and in this episode, they’re going to break them down and show you how to handle them. You’ll learn why you should think twice before passing up on a sewer scope, how to adjust your tenant screening process and avoid evictions, and how to effectively manage your property managers! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: Why home inspection packages aren’t just another sales scam to ignore Why doing your due diligence upfront could stop you from buying a “problem” property How to save thousands in eviction costs with a “cash for keys” offer Why you need to create strict tenant screening requirements (and stick to them!) The number one attribute to look for in a property management company How much money a new investor should be keeping in reserves And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Get Free Property Management Software for Landlords with Hemlane Buy “The Book on Managing Rental Properties” Property Manager Finder See Tony and Noah at BPCON2024 in Cancun! Skipping That Home Inspection? These Horror Stories Will Make You Think Again Connect with Noah (00:00) Intro (01:00) $30K Sewage Repairs! (07:34) HUGE Eviction Costs (20:14) Property Management Woes (27:53) Advice for New Investors (30:53) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-466 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
How hard is it to buy a rental property in 2024? With all the buzz around high interest rates and soaring home prices, you’d think that investing in today’s market is a lost cause. But if a nineteen-year-old can take down his first real estate deal with very little education or experience, there’s no reason why you can’t invest, too! Welcome back to the Real Estate Rookie podcast! After learning about FIRE (financial independence, retire early), Elijah Berg realized that wealthy people had something in common. They weren’t just investing in stocks; they also owned real estate! Determined to follow in their footsteps, Elijah started saving for a down payment and built his buy box. Next, he found an investor-friendly agent and lender to help him find and fund his property. Eventually, he found a diamond in the rough—a duplex in an A-class neighborhood. Tune in as Elijah walks you through his first deal and shares some personal finance tips that helped him prepare for his first investment. In this episode, you’re going to learn why time in the market is still more important than timing the market, and why new investors shouldn’t allow fear of the unknown to stop them from investing in 2024! In This Episode We Cover: How Bryan snowballed $20,000 into eleven properties (in under four years) Building your real estate portfolio faster by moving to a low-cost-of-living area How to get your spouse on board with your real estate investing dream Using a HELOC (home equity line of credit) to fund more real estate deals How to pivot to another investing strategy when things don’t go to plan Why you always need an exit strategy whenever you buy a new property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Buy the Book “Long-Distance Real Estate Investing” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode #452: The Rookie’s Cheat Sheet for Market Research (Find Where to Invest in 2024) Connect with Bryan Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-465 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Snowballing a $20,000 investment into eleven rental properties…in under four years?! Most investors are happy to add ONE property to their real estate portfolio every year or so, but this rookie wants to get a head start on his ultimate goal—creating enough cash flow to retire him and his wife! Welcome back to the Real Estate Rookie podcast! After years of job hopping, Bryan Field wondered whether settling into a traditional nine-to-five job would ever be in the cards for him. As fate would have it, Bryan stumbled on BiggerPockets at a crossroads in his life, and real estate investing quickly became his new obsession. The only problem? His hometown of San Diego, California was well outside his price range. So, he and his wife took a leap of faith and moved to Arizona, which is where he found his first rental property! In just a few short years, Bryan has had the FULL investing experience—changing investing strategies mid-deal and investing in markets all over the country. Along the way, he has moved to low-cost-of-living areas to save money, rolled home equity into more deals, and found rare off-market properties (seller-financed)! In This Episode We Cover: How Bryan snowballed $20,000 into eleven properties (in under four years) Building your real estate portfolio faster by moving to a low-cost-of-living area How to get your spouse on board with your real estate investing dream Using a HELOC (home equity line of credit) to fund more real estate deals How to pivot to another investing strategy when things don’t go to plan Why you always need an exit strategy whenever you buy a new property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Buy the Book “Long-Distance Real Estate Investing” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode #452: The Rookie’s Cheat Sheet for Market Research (Find Where to Invest in 2024) Connect with Bryan Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-464 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Finding, screening, and placing new tenants for your rental property is not only difficult—it’s expensive! Want to attract the best tenants in town and ensure that they stick around for the long haul? You won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! As the self-proclaimed “lazy investor,” Dion McNeeley wants to have long-term tenants and as little turnover as possible. Today, he’s going to share the tips, tricks, and tactics he uses to keep tenants around for not just months or years but decades. The best part? He’s not doing anything the average investor can’t do. By implementing these same strategies, you can find high-quality residents and reduce turnover! Of course, not every investor can devote twenty hours to their real estate business each week. Fortunately, Dion offers some portfolio-saving advice that will allow you to become a more hands-off investor. You’ll hear about a strategy that will have tenants asking YOU to raise rent, as well as a crucial document that could protect your investment when inheriting tenants. Finally, you’ll learn why retention isn’t always the best option and when to let a tenant go. In This Episode We Cover: How to ensure that your best tenants stay at your rental property long-term How to get tenants to ask for a rent increase with the “binder strategy” The agreement you MUST have in place when inheriting tenants How to properly vet tenants before offering them a lease renewal Retention versus turnover (and when it’s time to let a tenant go) What you should know before raising rents on Section 8 tenants And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group BiggerPockets Lease Agreements by State BiggerPockets Glossary Canva Get Free Property Management Software for Landlords with Hemlane Buy the Book “The Self-Managing Landlord” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 369: Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley Connect with Dion Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-463 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
This assistant principal slowly and steadily used home equity to invest, helping him acquire seven properties in just over ten years. These properties have now seen sizable appreciation, and he has hundreds of thousands of dollars in equity, all thanks to taking it slow and making the right moves on the right rental properties. This might be one of the most repeatable paths to wealth out there, and you can copy it to a tee to build wealth, too! James Likis got his start where many rookie investors do—house hacking. Except it started WAY before he was an adult. James remembers his family house hacking as a kid, which prompted him to buy, not rent, as soon as he started looking for his own place to live. After house hacking for years, he saw his equity grow and later used this one property to buy his dream home, which would help him build even MORE equity. James has used this equity-recycling strategy to buy over a million dollars worth of real estate, and it all started from ONE house hack. You can do it, too, and like James, you may begin searching for even more affordable housing markets where your dollar can stretch further. Today, he’s sharing how he used his home equity to grow his real estate portfolio, why he decided to invest out of state, and a specific home renovation loan he used to turn his second property into a fully-renovated, high-appreciating family home! In This Episode We Cover: Why you DON’T need to rush to build a successful rental property portfolio Using home equity to invest and cash-out refinances vs. HELOCs The easiest way to start investing in real estate that rookies should try Home renovation loans and what you MUST know before using an FHA 203(k) loan Why focusing on investing for appreciation (not JUST cash flow) will make you wealthy Long-distance real estate investing and buying in more affordable housing markets And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Invest Out-of-State with “Long-Distance Real Estate Investing” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Home Equity: What It Is, How To Calculate, & How To Use It Connect with James Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-462 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to work less, make more, and do it all by spending as little as five dollars per hour? Great! You’ll need to know how to hire a virtual assistant for real estate investing. Doing so can free up hours (or even days) of your time per week, letting someone else, who might have even more experience than you, help grow your business/real estate portfolio while YOU focus on the things YOU do best. Not only that, virtual assistants are often cheaper, faster, and better at tasks you've considered only for full-time employees. We use virtual assistants daily in our real estate businesses and wouldn’t accomplish half as much as we do without them. These crucial team members are so integral to growing your real estate portfolio that we decided we needed an entire episode dedicated to them. So, we brought a former virtual assistant, now leader of HireTrainVA.com, Valentina Brega, to the show to share her advice on vetting, hiring, and training a top-tier (but surprisingly affordable) virtual assistant. Valentina stresses (and we agree) that EVERY rookie real estate investor NEEDS a virtual assistant to scale faster. She'll teach you when the right time to hire one is, exactly how much they cost, what type of work you should delegate out to a virtual assistant, where to find a virtual assistant, and the virtual assistant-vetting checklist you can use to find one who will help take your business to new heights! In This Episode We Cover: How to get the highest return on investment (ROI) from renovations and amenities Converting your short-term rental into a medium-term or long-term rental How to choose the best investing strategy for your market (and when to pivot!) The best exit strategies for a BRRRR (buy, rehab, rent, refinance, repeat) When to use a home equity line of credit (HELOC) versus a cash-out refinance And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Do More as a Rookie with “The Self-Managing Landlord” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Hire a Virtual Assistant for These 21 Tasks (& Supercharge Your Productivity!) Connect with Valentina Be a Real Estate Rookie Guest! Work with Valentina’s Team! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-461 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you want extra cash flow? Higher appreciation? More bookings? A few high-ROI renovations or new amenities could pay off in a HUGE way. But which projects will give you the best bang for your buck? Stay tuned because we’re sharing some of our favorite additions in this episode! Welcome back to another Rookie Reply! Are you using the wrong investing strategy? Maybe short-term rental regulations are cutting into your revenue, or your long-term rental isn’t cash-flowing. We’ll discuss how to choose the best strategy for your market, when to pivot, and how to flex between multiple strategies for the highest return. Finally, we’ll dive into the BRRRR method (buy, rehab, rent, refinance, repeat) and compare several exit strategies for tapping into your home equity—from cash-out refinancing to DSCR (debt service coverage ratio) loans! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to get the highest return on investment (ROI) from renovations and amenities Converting your short-term rental into a medium-term or long-term rental How to choose the best investing strategy for your market (and when to pivot!) The best exit strategies for a BRRRR (buy, rehab, rent, refinance, repeat) When to use a home equity line of credit (HELOC) versus a cash-out refinance And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Buy “The Book on Estimating Rehab Costs” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! 11 Ways to Increase the Value of Your Home or Investment Property in 2024 (00:00) Intro (00:46) High-ROI Renovations (11:19) Converting Short-Term Rentals (18:18) BRRRR Exit Strategies (27:56) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-460 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Visit PassivePockets, your resource for passive investing with syndications. Do you want to get into real estate without managing rentals and dealing with tenants? Passive real estate investing could be the answer. In this episode, we’ll explore an investing strategy that allows you to enjoy all of the profits, appreciation, and tax benefits of real estate investing without the headaches of ownership! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Jim Pfeifer, host of the new PassivePockets podcast. Like many investors, Jim used to self-manage his rentals, collect rent, and handle typical landlord duties—only to find that he wasn’t very good at it. Even after hiring a property manager, his problems didn’t go away. So, after he’d had enough, he gave up active investing altogether and poured all of his capital into real estate syndications instead. Now, he doesn’t have to worry about clogged toilets or evictions. He just sits back and collects a check! In this episode, you’re going to learn everything you need to know about syndication investing and why it’s the perfect way to diversify your real estate portfolio. Jim will show you how to find and vet a syndicator, leverage your retirement accounts, respond to “capital calls,” and more! In This Episode We Cover: The pros and cons of passive investing versus active investing Why it’s MUCH easier to diversify your portfolio with passive investments Capital calls explained (and what to do when an operator requests funds) How passive investing returns compare to active investing returns Why the tax benefits are often better with passive real estate investments The number one thing you must do when vetting a syndicator How to find more syndication opportunities for non-accredited investors And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Buy the Book “The Hands-Off Investor” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! What Is Passive Real Estate Investing and Is It Right for You? Connect with Jim (00:00) Intro (02:18) Passive Investing 101 (06:40) Pros and Cons of Passive Investing (09:32) What Are Capital Calls? (18:00) Passive Investing Returns (21:48) How to Get Started (28:10) Raising Capital to Invest (32:42) Find Your Community! (34:14) Connect with Jim! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-459 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
One rental property could give you a little cash flow, but if you want to reach financial freedom, quit your nine-to-five, and even retire early, you’ll need to scale your real estate portfolio. This might seem like a daunting task, but in today’s episode, we’ll show you how to go from a novice investor to a wealth-building entrepreneur! Welcome back to the Real Estate Rookie podcast! Off the back of their latest book, Scaling Smart, Kathy and Rich Fettke join the show to share their best secrets for building a sustainable real estate business. Successful investors manage their portfolios like full-fledged businesses, so whether you’re still searching for your first deal or struggling to scale up, we’ll show you all of the systems, processes, teams, and tools you should implement now to prepare for the future. In this episode, you’ll learn the crucial difference between growing and scaling your portfolio, as well as the number one mistake rookies make when attempting to scale. You’ll also hear about some creative ways to fund more deals, and, finally, the keys to a recession-proof investing strategy! In This Episode We Cover: Building a real estate portfolio that supports your long-term investing goals The number one mistake rookies make when scaling (and how to avoid it!) The difference between growing and scaling your real estate business Key systems, processes, and teams to implement in your business today How to set up your business to survive an economic downturn When to make the FIRST hire for your business (and who it should be!) Creative strategies to help you fund more real estate deals And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE On the Market Emergency Preparedness Plan Buy the Book “Good to Great” Buy Kathy & Rich’s New Book “Scaling Smart” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! How to Build a Real Estate Portfolio & Quickly Scale Your Investments Connect with Kathy Connect with Rich (00:00) Intro (01:15) Growing vs. Scaling (03:35) First Steps to Scaling Up (11:18) Common Financing Challenges (17:27) Building Systems & Teams (27:01) Hiring the Right People (30:26) How to Survive a Downturn (37:36) Connect with the Fettkes! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-458 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Analyzing Airbnbs is tough, especially for a new investor. Which properties make the best vacation rentals? Which amenities should you prioritize? Do you need an exit strategy if things go south? Stay tuned as we show you how to get the best possible return on your short-term rentals! Welcome back to another Rookie Reply! Leveraging home equity is one of the easiest ways to build and scale a real estate portfolio, and in this episode, we’ll share some creative strategies you can use to tap into this money—without selling your property. Next, we’ll dive into one of the biggest hurdles standing between a rookie and their first rental property—money. If you need outside-of-the-box solutions to help finance your first deal, we’ll show you how to use other people’s money through partnerships, borrow against your 401(k) or brokerage account, or work your business into the deal! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: The BEST property type and amenities for a short-term rental How to get the highest return on investment from your Airbnb How to pull equity out of a paid-off rental property (without selling it) How to fund your next real estate deal using other people’s money (OPM) Using your 401(k), brokerage account, or business to help finance properties And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Buy the Book “Real Estate Partnerships” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 408: Fundamentals of Funding: How to Find the Right Lender for Your Next Rental (00:00) Intro (00:54) How to Analyze Airbnbs (08:42) Using Home Equity 101 (16:36) Funding Your First Deal (26:49) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-457 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
What’s stopping you from investing in real estate? Money? What if there was a profitable rental you could buy with just $500 down? Well, today’s guest has found the perfect investment for rookies—a low-money, low-maintenance, low-risk rental that can cash flow as much as many single-family homes! Welcome back to the Real Estate Rookie podcast! JJ Williams only had to pay a $500 deposit to secure an asset that cash flows over $2,000 some months. And this home-run investment was just the start of his real estate journey. As you’re about to find out, JJ has gone on to purchase ten doors across three properties in just two years, focusing on providing short-term rental “experiences” that command the highest Airbnb rates. The best part? His portfolio brings in well over $6,000 in monthly cash flow! How has JJ been able to build his real estate portfolio so quickly? In this episode, he shares his two-pronged approach which consists of reinvesting his cash flow and using creative financing to keep buying properties with low money down. Stay tuned to learn how seller financing can help you land deals that are otherwise out of reach, why you should underwrite all deals as long-term rentals, and why your cleaner is your most important short-term rental hire! In This Episode We Cover: How to get huge cash flow with low-money-down RV investing Maximizing your short-term rental rates by providing unique stays How to negotiate lower interest rates and down payments with seller financing Boosting your cash flow and reinvesting it in your real estate portfolio Why you should make sure a property works as a long-term rental before buying it How to make money without owning rentals through Airbnb arbitrage Why a cleaner is your most important hire for a short-term rental And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE AirDNA PriceLabs Put Your Vacation Rental on Autopilot with Hospitable Buy the Book “Real Estate Campgrounds” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! BiggerPockets Real Estate - Episode 650: Glamping, Campsites, and the Insane RV Park Revenue No One Is Talking About Connect with JJ (00:00) Intro (00:47) RV Investing 101 (07:40) Maintaining an RV (10:06) Buying the Historic Home (14:51) Current Portfolio & Buy Box (22:48) Boosting His Cash Flow (26:07) Advice for New Investors (28:10) Connect with JJ! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-456 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Can real estate investing still propel you to financial independence in 2024? Despite starting with very little money or know-how, this investor found creative ways to build a real estate portfolio of five rental properties and reach his financial goals! Kadeem Leslie was just fifteen years old when he learned about FIRE (financial independence retire early) and set a lofty goal of retiring by thirty. He knew that real estate would need to be part of his journey, but like many new investors, he had very little money to start. So, he used the Airbnb arbitrage strategy, sleeping on his couch while guests rented his bedroom. In the first month, he covered his rent, and by the third month, he had already doubled his rental income. With proof of concept, Kadeem started renting out virtually any space he could find—from podcast studios to parking spaces—giving him money to buy his own rentals! Today, Kadeem is financially free, but he has used several strategies and side hustles to get there. In this episode, you’ll learn how to combine real estate investing and other revenue streams to fast-track your portfolio. You’ll also learn why the one-percent rule is still possible in today’s housing market and why finding a top real estate agent is the key to uncovering a great deal! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How Kadeem was able to achieve financial freedom with real estate investing FIRE (financial independence retire early) explained and how to achieve it How to use rental arbitrage as a stepping stone toward property ownership Creating additional revenue streams to help build your real estate portfolio Why working with a top real estate agent is crucial for finding deals in today’s market How to achieve the one-percent rule with the house hacking strategy And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Get 10% Off Any BiggerPockets Book with Code “Ashley” or “Tony” Buy “The Book on Rental Property Investing” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Airbnb Arbitrage: How to Make Money Without Owning Property Kadeem’s Instagram Airbnb PadSplit Peerspace Neighbor (00:00) intro (00:57) The Journey to FIRE (03:53) Rental Arbitrage 101 (12:41) Building Income Streams (20:47) Current Portfolio & Partnerships (24:54) Kadeem’s Most Recent Deal (30:34) Advice for New Investors (34:46) Connect with Kadeem! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-455 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You’re trying to buy your first rental property, but you keep losing out to buyers making cash offers and waiving inspections. Are you doing something wrong? In this episode, we’ll show you how to find more deals, improve your offers, and even be the first one to the party! Welcome back to another Rookie Reply! One of the biggest perks of real estate investing is the home equity you build through loan paydown—money you can use to grow your real estate portfolio. But between cash-out refinancing, a home equity line of credit (HELOC), and selling your property, what’s the best way to pull your money out? Ashley and Tony are here to break down your options. Next, we’ll discuss the best properties to buy with appreciation as your main goal. Should you buy the cheaper home that needs renovations or the move-in-ready rental? Stick around as we compare these properties head-to-head! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to calculate your purchasing power and build your buy box How to find deals on the MLS (multiple listings service) that match your criteria Creative strategies to help you source more off-market properties Software, tools, and tips to help you manage and follow up on leads Using the skip tracing method to find off-market property owners And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Join BiggerPockets for FREE Buy the Book “Real Estate Rookie: 90 Days to Your First Investment” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 447: Making $300K+ Profit Per Rental and Scaling FAST with “DADUs” (00:00) Intro (00:41) apping Into Home Equity (08:33) Investing for Appreciation (14:24) How to Land Your First Property (22:20) Where to Find Deals (27:32) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-454 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Struggling to land your next rental property? Even in today’s housing market, there’s a great deal out there with your name on it—you just need to know where to look. In today’s episode, Ashley and Tony will share their favorite strategies, software, and tools for finding real estate deals so that you can start getting a little reward for your effort! Welcome back to the Real Estate Rookie podcast! Sourcing deals is hard work, but maybe you’re making things harder for yourself. Today, we’re starting at square one by showing you how to determine your purchasing power and build your buy box. From there, we’ll introduce you to several strategies that will help you find on-market deals that fit your criteria and off-market deals that typically fly under the radar. How many of these deal-sourcing strategies should you use when starting out? Stay tuned to find out! Along the way, we’ll show you different software and tools you can use to get organized, track your leads, and find off-market property owners. Regardless of your investing strategy—house hacking, BRRRR, or flipping houses—our approach will help you lock up your next deal in no time! In This Episode We Cover: How to calculate your purchasing power and build your buy box How to find deals on the MLS (multiple listings service) that match your criteria Creative strategies to help you source more off-market properties Software, tools, and tips to help you manage and follow up on leads Using the skip tracing method to find off-market property owners And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums BiggerPockets Deal Finder BiggerPockets Calculators Become a BiggerPockets Pro Member for Free Invelo Software PropStream ??Xome Auction.com Hubzu HudhomesUSA.org U.S. Department of the Treasury onX Hunt LandGlide Ballpoint Marketing Investorlift Privy Mojo Dialer Carrot Monday.com RESimpli REI Reply Asana Loom Buy the Book “Real Estate Deal Maker” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 416: How to Find & Fund MORE Real Estate Deals in 2024 (Tips from a PRO!) (00:00) Intro (00:51) What's Your Purchasing Power? (02:17) Building Your Buy Box (07:55) How to Find On-Market Deals (12:22) How to Find Off-Market Deals (19:30) Tracking Your Leads (24:10) Choose Your Strategy! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-453 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Choosing where to invest can be overwhelming. With thousands of real estate markets and endless data to wade through, it’s no wonder that so many rookies trip up on this step before they ever get started. Well, we’ve got a brand-new tool that’s about to make your job a whole lot easier! Welcome back to the Real Estate Rookie podcast! Dave Meyer, Head of Real Estate Investing at BiggerPockets, has developed a market research tool to help more investors find their market. And today, we’re putting it to the test! Join Ashley, Tony, and Dave as they walk you through the process of choosing an investing strategy, building a buy box, and picking a market that aligns with your long-term investing goals. As they dive into the data, you’ll find out where each of them might invest if they were starting over today! But that’s not all. In this episode, you’ll also learn how using ChatGPT can accelerate real estate market analysis and why it’s so important to niche down to zip codes. Finally, you’ll learn to avoid overanalyzing a market by sticking to a few data points that fit your investing needs! In This Episode We Cover: How to use data to find your real estate market (and which data points matter!) Where Ashley, Tony, and Dave might invest if they were starting over today The new (and free) BiggerPockets tool that offers a different look at the housing market Why you should choose a market that supports your strategy (and not the opposite!) How to use ChatGPT as your secret weapon for faster market research Why you must niche down to neighborhood when deciding where to invest And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! Download Our Free “Where to Start” Market Research Tool BiggerPockets Market Finder BiggerPockets Glossary Niche Down to Neighborhoods with NeighborhoodScout Analyze Your Market with BrightInvestor Buy Dave’s Newest Book “Start with Strategy” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 429: The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, and Deals Connect with Dave (00:00) Intro (05:35) Why Is Market Research Important? (08:36) Where Tony Would Invest (13:38) Niching Down to Neighborhoods (18:18) Where Ashley Would Invest (24:39) Choosing Data Points (26:57) Where Dave Would Invest (30:21) Go Find Your Next Market! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-452 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Find real estate deals faster with a BiggerPockets Pro Membership. Use code “PDEAL24” for 20% off plus thousands of dollars in bonuses and access to investment calculators, BiggerPockets deal finder, BiggerPockets market finder, and more! Feel like you’re struggling to find real estate deals in 2024? Well, we’ve got just the thing for you. Today, BiggerPockets’ Head of Real Estate, Dave Meyer, is showing YOU how to find real estate deals and analyze them easily to get your next real estate investment faster. Whether you’re looking for long-term rentals, short-term rentals, fix and flips, or something else, Dave is about to showcase the deal-finding strategies only experts know about. There are five simple steps to finding real estate deals, and if you can follow all of them (or even most of them), you’ll have your pick of the best investments on the market. We’ll show you how to find off-market real estate deals, build your “buy box” to know exactly which deals you want, and get other people to send the deals straight to you! Plus, we’ll show you how to analyze a rental property in just minutes using the BiggerPockets calculators! Take your real estate investing to the next level with BiggerPockets Pro! Use code “PDEAL24” for a HUGE discount! In This Episode We Cover: How to find real estate deals in 2024 (even if you’re just starting!) Building your “buy box” and how to know an investment property is right for you Getting deals sent TO YOU by networking with investors, agents, and more Using the BiggerPockets “Deal Finder” to find hidden gems in any market Rental property analysis 101 and how to do it in minutes with the BiggerPockets investment calculators And So Much More! Links from the Show Hear Dave on the BiggerPockets Real Estate Podcast Hear Dave on the On the Market Podcast Deal Finder Market Finder BiggerPockets Forums Real Estate Investment Calculator Rent Estimator BiggerPockets Bootcamps BiggerPockets Webinars RentRedi Property Management (00:00) Intro (02:00) Why Invest in Real Estate? (09:53) Your Investing Strategy (13:35) 1. Build Your "Buy Box" (16:21) 2. Find Off-Market Deals (17:49) 3. Find Deals Through Networking (19:08) 4. Use the "Deal Finder" (24:34) 5. Analyze the Rental (25:30) Would You Buy This? (33:33) HUGE BiggerPockets Discount! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-webinar Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You know real estate investing is a great way to build wealth, but maybe you fear you don’t have the resources to start. Well, there’s a way to create cash flow without money OR rentals—rental arbitrage! This low-risk, rookie-friendly strategy could be your gateway into the world of real estate. In today’s episode, we’ll cover the pros and cons of this strategy and whether it still works in 2024! Welcome back to another Rookie Reply! If you’re a homeowner looking to buy your first rental property, tapping into your home equity gives you an enormous advantage. We’ll show you how to quickly build and scale a real estate portfolio through the BRRRR method (buy, rehab, rent, refinance, repeat), and you’ll also learn when to use a cash-out refinance or get a home equity line of credit (HELOC) instead. Finally, inheriting tenants puts you in a difficult spot. How should you introduce yourself to tenants? What’s the best way to raise rents on long-term tenants? Stick around to find out! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to cash flow WITHOUT money or rentals (and whether this strategy works in 2024) The pros and cons of Airbnb arbitrage (and costly mistakes to avoid!) The BEST ways to leverage your home equity as a new investor Using the BRRRR method (buy, rehab, rent, refinance, repeat) to build your portfolio When to use a cash-out refinance versus a home equity line of credit (HELOC) Crucial steps to take when inheriting tenants with your rental property How to get tenants to agree to rent increases using the “binder method” And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Buy the Book “Short-Term Rental, Long-Term Wealth” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! BiggerPockets Real Estate - Episode 520: $47K/Month in Rent, 0 Doors Owned | Rookie Takeover w/ Rafael Loza Get FREE Landlord Forms by Becoming a BiggerPockets Pro Member Find Landlord-Tenant Laws in Your State (00:00) Intro (00:57) What Is Rental Arbitrage? (10:53) HUGE Arbitrage Mistakes to Avoid (14:50) How to Invest Your Home Equity (21:38) Inheriting Tenants & Raising Rents (31:58) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-451 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Deal analysis is an essential tool in the investor’s toolkit and maybe the most crucial skill for breaking into real estate investing. Have you ever wondered how other investors can find a rental property, run the numbers, and buy with confidence? Well, you’re in luck because we’re dedicating an entire episode to this vital skill! Welcome back to the Real Estate Rookie podcast! Today, Ashley and Tony are going to show you how to analyze real estate deals like a pro investor. First, you’ll need to determine your “why” for investing and choose your investing strategy. But after that, we’ll dive right into the most important factors to consider when breaking down a deal. Interest rates are a sticking point for many investors, and today’s high rates keep many of them on the sidelines. But we’ll share why this is a HUGE mistake and why your rate shouldn’t stop you from snatching up a great deal. We’ll also discuss two types of properties that cash flow and how to find them, as well as how you can gain a competitive edge in your market by adjusting your buy box to include the properties other buyers are overlooking. Don’t go anywhere because we’ll even address some of the biggest mistakes we see rookies making—pitfalls that could hold you back from landing a home-run deal! In This Episode We Cover: The two things to pin down before you start analyzing properties Two types of properties to buy if you’re investing for cash flow Why you shouldn’t stop buying deals just because interest rates are higher The most important factors to weigh for real estate investment analysis The cash-flow-killing costs investors neglect when running the numbers How to gain a competitive edge in your market by tweaking your buy box Why you must niche down to neighborhoods when choosing where to invest And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Buy the Book “Real Estate by the Numbers” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Introduction to Real Estate Investment Analysis (00:00) Intro (00:46) Deals Gone Wrong! (06:02) Finding Your “Why” & Strategy (09:12) Investing for Cash Flow (15:56) Do Interest Rates Matter? (21:29) Interest Rate Strategies (28:29) Other KEY Factors (32:35) Biggest Analysis Mistakes Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-450 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
From bankruptcy to financial freedom in just ten years?! Today’s guest is living proof that past money mistakes don’t disqualify you from building wealth with real estate. Whether you’re neck-deep in debt or struggling to save, you’re only ever a few steps away from taking control of your financial future! Welcome back to the Real Estate Rookie podcast! By 2014, Diem Martin had filed for bankruptcy. Ten years later, she has achieved financial freedom with eight doors across four properties and has a $1.2 million net worth. How did she do it? She used the same investing strategy that so many newbies use to break into real estate—house hacking. Each new property allowed her to save for her next down payment, and in just eight years, she had built her entire real estate portfolio. If she can do it, you can too! Stay tuned if you want to learn how to get pre-approved for a loan after a major financial incident, as well as how to invest in an expensive market without a ton of money. You’ll also learn why you should always make sure a property will cash flow as a long-term rental before buying it. We even dive into financial independence retire early (FIRE), determining your FI number, and how to reach your goal as soon as possible through real estate! In This Episode We Cover: How Diem went from bankrupt to financially free in just ten years How to buy a rental property in an expensive market without a lot of money Why you must make sure an Airbnb works as a long-term rental before buying it Boosting your house hacking cash flow by creating units on existing properties How to get pre-approved for a mortgage after a dent in your credit Financial independence retire early (FIRE) explained (and how to get there!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Diem’s Instagram Buy the Book “The House Hacking Strategy” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Can I Get a Loan After Filing for Bankruptcy? (00:00) Intro (00:59) Bankruptcy to Buying a House (06:24) Choosing Bankruptcy & FHA Loans (12:46) First Deal & Current Portfolio (18:04) Changing Strategies & Managing Rentals (24:34) Chasing Financial Freedom (32:06) Never Stop Learning! (34:27) Connect with Diem! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-449 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
House hacking might be the easiest way to get into real estate. This beginner-friendly investing strategy involves little risk, works with several types of properties, and can cover your entire mortgage. But don’t just take our word for it—today’s guest host was able to build and scale his real estate portfolio using this strategy! Welcome back to another Rookie Reply! In today’s episode, Ashley and Noah Bacon are zeroing in on house hacking questions from the BiggerPockets Forums. First, can you create $1,000, $2,000, $3,000, or more in monthly cash flow just by house hacking? How long would this take and how many doors would you need? The answer might surprise you! We also discuss LLCs, whether you need one, and what you should know before transferring a property from your personal name. Finally, you’ll learn which properties make the BEST house hacks and what to do when you can’t find the right deal! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: The BEST properties for house hacking (and what to do when you can’t find one!) Creative ways to maximize your cash flow on any house hack How to scale your real estate portfolio FAST with serial house hacking Umbrella policies versus LLCs (and which one you need for your property) What you MUST know before transferring a property from your name to an LLC How to find tenants when renting by the room (and how to protect your privacy) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Check Out Noah’s “How I Started” Series Buy the Book “The House Hacking Strategy” Find Investor-Friendly Lenders See Ashley and Noah at BPCON2024 in Cancun! Real Estate Rookie - Episode 447: Making $300K+ Profit Per Rental and Scaling FAST with “DADUs” w/ Christian & Shannon Nossum Connect with Noah Connect with Ashley (00:00) Intro (02:54) Scaling with House Hacks (10:06) Do You NEED an LLC? (18:49) Transferring Property to an LLC (22:23) BEST Properties for House Hacking (30:30) Connect with Noah! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-448 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Making a $300,000 profit from ONE rental?! Imagine how quickly you could reach financial freedom by raking in this amount of profit and reinvesting it into your real estate portfolio. There’s an investing strategy that allows you to take home six figures from a single sale, and today’s guests are going to share it with you! Welcome back to the Real Estate Rookie podcast! Christian and Shannon Nossum have been house hacking since college. Once they realized that renting rooms to their friends was a surefire way to maximize their cash flow and live for FREE, they worked hard to buy more homes and convert them into student housing. But how do they fund these large investment properties and renovation projects? They build detached accessory dwelling units (DADUs) and pocket an enormous profit whenever they flip one of these units. The best part? They don’t even need to sell their entire property! As more and more states allow DADU construction, it’s time for investors to take advantage of this huge opportunity in 2024. Tune in to learn the ins and outs of this lucrative strategy and the best ways to redeploy your profits. Along the way, you’ll learn how to pin down your niche, find more real estate deals, and multiply your cash flow by renting by the room! In This Episode We Cover: Making a HUGE profit by flipping detached accessory dwelling units (DADUs) Why student housing presents a huge opportunity for investors in 2024 How to boost your cash flow with the rent-by-the-room strategy Maximizing home value with the BRRRR method (buy, rehab, rent, refinance, repeat) How to find MORE real estate deals (even in a competitive market!) How to fast-track the permitting process for your home renovations And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Buy the Book “The House Hacking Strategy” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Build a Six-Figure Student Housing Portfolio with These Simple Steps (00:00) Intro (00:49) Living for FREE in College (05:24) Student Housing 101 (12:13) Building the DADU (19:09) Making a $300K Profit?! (27:11) Adding Value & Finding Deals (30:38) How to Find Your Niche (35:20) Connect with the Nossums! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-447 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Can rookies find rental properties that cash flow in today’s housing market? Yes! But you may need to get creative. This investor made the numbers work by discovering extra income streams in his own backyard, making a cross-country move, and using artificial intelligence (AI) to find better deals! Welcome back to the Real Estate Rookie podcast! Joe Schmitt has built a modest real estate portfolio of four properties in four years, but the journey hasn’t been easy. His very first deal saw him tackling home renovations and building a second rental unit on his property, an effort that allowed him to force appreciation and create more cash flow. The only problem? Joe was quickly being priced out of his Los Angeles market. So, he took his operation to the East Coast instead! There are many levers you can pull to make a deal work for you, and in today’s episode, you’re going to hear about all the different investing strategies Joe used to his advantage—from building accessory dwelling units (ADUs) and investing out-of-state to using Chat GPT to negotiate a $40,000 discount on one deal! In This Episode We Cover: How Joe built his portfolio of four rental properties in four years Boosting your home equity and cash flow with accessory dwelling units (ADUs) The benefits of visiting a new real estate market before investing in it Using ChatGPT to research property data, analyze deals, and negotiate with sellers When to refinance your home (and when to keep your current rate instead!) What you must know before getting a home equity line of credit (HELOC) Private mortgage insurance (PMI) explained and how to avoid (or eliminate!) it And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Buy “The Book on Negotiating Real Estate” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Investing in Real Estate Out of State: What You Need to Know Connect with Joe (00:00) Intro (00:44) Joe’s FIRST Deal (07:01) Building the ADU (16:17) Moving to Nashville! (26:47) Saving $40K by Using AI?! (32:48) 3 Tips for New Investors (35:33) Connect with Joe! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-446 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
As a new investor, a strong real estate team is crucial to your success—especially when you’re looking to land your first deal, complete your first rehab project, or invest out-of-state. In today’s episode, we’ll show you how to find investor-friendly agents, lenders, contractors, and other key players! Welcome back to another Rookie Reply! What should you do when a tenant wants to break their lease? We’ll provide you with a plan of action, as well as some necessary terms to include in your lease agreements so that you’re protected in the future. Next, could we be headed for another housing market crash? No one knows for certain, but Ashley and Tony will show you how to prepare for the worst and adjust your investing strategy during a downturn. Finally, you always need an exit strategy when working with partners or private money lenders. Stay tuned for some creative ideas that will keep you from getting in hot water! In This Episode We Cover: How to build your own real estate investing team from scratch What to do when a tenant wants to terminate their lease Why fear of an economic downturn shouldn’t stop you from investing Whether we’re headed for another housing market crash (and how to prepare) Why you always need an exit strategy for partnerships and financing And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Build Your Investor-Friendly Team Buy “The Book on Rental Property Investing” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Build Your Team for Real Estate Investing (00:00) Intro (00:54) How to Build Your Team (08:02) Terminating a Lease (14:17) Is a Housing Crash Incoming? (22:15) Exit Strategies 101 (29:12) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-445 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Anyone can get into real estate investing. Seriously, anyone! With today’s high interest rates, it may be more difficult to find a rental property that cash flows, but even if you’re in a white-hot real estate market or don’t have much money, there are still many creative ways to get started! Welcome back to the Real Estate Rookie podcast! From the moment his $22,000 military bonus hit his bank account, soldier Jean Augustin knew exactly how he’d be using the cash. After a few months of education and research, the perfect first property fell in his lap—a duplex that hadn’t even reached the multiple listing services (MLS). This 2020 deal was a home run by today’s standards, but as market competition increased and interest rates rose, Jean found that great deals were becoming scarce. Rather than switching markets or giving up on real estate, he pivoted to another investing strategy! In this episode, you’re going to learn that you don’t need to find the perfect market—you just need to find the right strategy. Tune in as Jean shares his journey from long-term rentals to short-term rentals to medium-term rentals. Along the way, you’ll learn all about VA loans and their benefits, mistakes to avoid when analyzing an Airbnb, and how to make money without owning rentals! In This Episode We Cover: How to find the perfect investing strategy for your real estate market Snatching up a GREAT deal before it reaches the multiple listing service (MLS) How to create your own income stream from someone else’s property The VA loan and its benefits (and a similar loan for non-veterans!) Critical mistakes to avoid when analyzing a rental property How to make more money from your Airbnb during slow months And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Buy the Book “Start with Strategy” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 261: How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame Jean’s LinkedIn (00:00) Intro (00:55) Investing His Work Bonus! (07:04) Landing His First Deal (12:58) Numbers on the Duplex (16:28) VA Loan Pros & Cons (21:31) Airbnb Arbitrage 101 (26:32) Critical Airbnb Mistakes! (31:25) Pivoting to Medium-Term Rentals (37:38) Connect with Jean! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-444 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You DON’T need to scale your real estate portfolio to start building wealth. Whether you own a single rental property or one hundred doors, the size of your portfolio isn’t as crucial as your ability to manage it. Today’s guest is bringing you a masterclass on a fundamental skill that new investors often overlook—one that will help you get the most out of your portfolio and maximize your profits! Welcome back to the Real Estate Rookie podcast! Ashley “BadAsh” Wilson is a big-time investor and long-time friend of the show who has perfected the art of asset management, having managed over 1,500 units to date! In this episode, she’s going to show you why this skill matters, how it differs from property management, and how to use it to gain a competitive advantage in your investing journey—even if you don’t have a large portfolio or have only just landed your first deal! New investors must wear many hats, but Ashley shares three things ALL rookies can do to better manage their portfolios without outsourcing. She also walks you through the process of evaluating a multifamily property and even shows you how to execute a value-add strategy that brings bigger and faster returns! In This Episode We Cover: Asset management explained and why it’s the differentiator for building wealth Skills you MUST cultivate to effectively manage your real estate portfolio Three things ALL rookies can do to become better asset managers How to evaluate a multifamily investment property (step by step) Key differences between asset management and property management How to create and execute a value-add strategy for any property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Become a BiggerPockets PRO Member and Get RentRedi for $1 Join BiggerPockets for FREE Buy the Book “The Multifamily Millionaire, Volume 1" Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! BiggerPockets Real Estate - Episode 412: Start Investing in Large Multifamily? How to Do It, and Why (or Why Not) with Ashley Wilson Connect with Ashley Wilson (00:00) Intro (00:53) Asset Management 101 (09:58) Essential Skills for Asset Managers (16:27) 3 Keys to Asset Management (20:53) How to Evaluate Multifamily (29:08) Executing a Value-Add Strategy (35:50) Don’t Get Comfortable! (38:25) Connect with Ashley! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-443 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Screening tenants is a necessary but expensive part of real estate investing. In some cases, property managers charge as much as one month’s rent to place a tenant. What if there was a way to build a pool of high-quality tenants for free? In this episode, you’ll learn how to screen your own tenants (fairly and legally) and keep more of your cash flow! Welcome back to another Rookie Reply! After showing you how to create your own backlog of potential tenants, we dive into house hacking—the rookie-friendly investing strategy that helps pay for your mortgage—and a creative way to squeeze even more monthly income from your property. Cash-out refinancing is a popular way to access your home equity and reinvest it. But is this a good idea with today’s high interest rates? Ashley and Tony will crunch the numbers and help you make the right decision. Finally, we discuss the ins and outs of eviction day and what you need to know before the sheriff arrives at your property. Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to build a pool of high-quality tenants for your rental property (for free!) Mastering the tenant screening process without a property manager Creative ways to maximize your cash flow with the house hacking strategy When to do a cash-out refinance and roll your home equity into a new deal What you NEED to know before evicting a tenant from your property And So Much More! Links from the Show Become a BiggerPockets PRO Member and Get RentRedi for $1 Join BiggerPockets for FREE Buy “The Book on Managing Rental Properties” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 6: The Ultimate Beginner’s Guide to Tenant Screening with Lucas Hall (00:00) Intro (00:54) Building Your Tenant Pool (13:36) House Hacking from Your Garage?! (20:13) Should I Do a Cash-Out Refi? (25:58) Evicting a Tenant (35:14) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-442 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You don’t need a huge inheritance or nest egg to start investing in real estate. Just ask Cody Caswell, who landed his first deal at sixteen years old with only $5,000. This property gave him instant cash flow, but more importantly, it gave him a launchpad to develop his skills, find better deals, and scale from mobile homes to multifamily! Welcome back to the Real Estate Rookie podcast! Cody started small, but today, he flips fifteen houses per year, owns a fifty-six-unit apartment complex, and even runs an interior design business—all before the age of thirty. The secret to his seven-figure success? He spent most of his twenties dabbling in virtually every investing strategy until he found the one that aligned with his strengths and interests. The best part? His approach is relatively low-risk and highly repeatable! In this episode, Cody will share the best entry points for buy and hold investing, the BRRRR method, and flipping houses. Whether you’re brand-new to the world of real estate or you’re ready to pull the trigger on your first property, tune in to hear about his real estate journey, some critical mistakes to avoid, and what makes a “good” deal! In This Episode We Cover: How Cody turned a $5,000 investment into a portfolio of over fifty units How to build and scale your real estate business from little or no money The perfect starter investment properties (and how to find them!) The fastest way to double your cash and get MORE money to scale Why time in the market is more important than timing the market And So Much More! Links from the Show Ashley's BiggerPockets Profile Noah's BiggerPockets Profile Buy “The Book on Flipping Houses” Find an Investor-Friendly Agent in Your Area See Ashley and Noah at BPCON2024 in Cancun! Investing in Mobile Homes: What Investors Need to Know (00:00) Intro (01:29) Investing at 16?! (06:47) BRRRRing & Scaling at 18 (10:23) Flipping Houses & Cody’s Strategy (15:41) Advice for New Investors (19:19) Connect with Cody! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-441 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
For the past 999 episodes of the BiggerPockets Real Estate Podcast, we’ve heard stories from investors who have achieved financial freedom through rental property investing. However, when we started this podcast in 2013, it was a different time. The housing market had crashed just years earlier, prices were still recovering, and cash flow was abundant in many markets. But things have changed, and now we’re changing, too. Welcome to our 1,000th episode and your first look at the new BiggerPockets Real Estate Podcast. We’re getting back to the basics, sharing investor strategies that work in today’s market and showcasing the data investors need to know now so they can reach financial freedom faster. Our first guest on this new wealth-building journey is Scott Trench, CEO of BiggerPockets and rental property investor. Today, we ask Scott, “Is financial freedom still possible through real estate, and if so, how do investors achieve it in this housing market?” Scott shares what both beginner and experienced investors must do now to reach financial freedom, who should even be investing in the first place, and the best beginner investment EVERYONE listening to this should be taking full advantage of. Ready to start building your path to financial freedom today? The BiggerPockets Real Estate Podcast is the best place to be! We also want to thank David Greene and Rob Abasolo for their massive contributions—David Greene for nearly 7 years as a host and co-host of the podcast, and Rob Abasolo for many of the past 250 episodes. They did a fantastic job building on the foundations poured by our Founder, Josh Dorkin, and Brandon Turner and continued the work of changing millions of lives. While we had hoped that Rob and David would continue to stay on as hosts in this rotational capacity, we completely understand their desire to move on to their next adventures, and wish them success in those endeavors, knowing that they will continue to change many lives with their thought leadership. We wish them the best of luck in their next endeavors. In This Episode We Cover The new BiggerPockets Real Estate Podcast and what we’re changing starting today Whether you can still achieve financial freedom through real estate in 2024 The best beginner strategy to start building wealth, EVEN with little money Who should begin investing in real estate and whether you have what it takes The problem with “passive income” and why hands-on rentals beat it Investing in affordable markets and who should start with out-of-state investing How you can become a millionaire without having a huge rental portfolio And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-1000th-episode-of-bpre Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Real estate investing offers a roadmap to financial freedom, but it’s far from easy. If you’re feeling the stress of ownership, whether it’s due to a difficult tenant or unforeseen expenses, you may be ready to throw in the towel. But before you sell your investment property out of frustration, you’ll want to hear what Ashley and Tony have to say! Welcome back to another Rookie Reply! Are you looking to increase rents? Choosing the right renovations is key, and in today’s episode, we’ll help you determine which projects to prioritize. We also talk about the one-percent rule—a popular benchmark investors use to determine whether a deal is good or bad. Should you buy a rental property that falls short of this golden number? Our answer might surprise you! Finally, we dive into turnkey properties, their pros and cons, and what you should know about them before you buy! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover What to do when you feel like quitting real estate investing altogether When to sell a rental property (and where to redeploy your home equity!) The BEST home renovation projects for raising rents Whether you should buy a property that doesn’t meet the one-percent rule The pros and cons of investing in turnkey rental properties And So Much More! (00:00) Intro (00:55) Rent-Raising Renovations (08:30) Should I QUIT Real Estate? (18:14) When to Sell a Property (29:46) Breaking the 1% Rule! (37:13) Buying Turnkey Rentals (44:39) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-440 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Real estate bookkeeping is one of the tedious but necessary tasks that comes with owning a rental property. Unsurprisingly, it’s one of the things that can make or break your real estate business. Can you do your own accounting? Should you hire a bookkeeper? It’s easy to become overwhelmed by your financials, which is why we’ve brought in a specialist to deliver a crash course on this crucial topic! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by certified public account (CPA) Sarah Bratcher, who is going to share five things every investor should know about bookkeeping. Along the way, you’ll learn the differences between CPAs, bookkeepers, and financial planners so that you can make the right hire for your real estate business. Sarah also shares some of the biggest red flags to watch out for when hiring a CPA, as well as some telltale signs that it’s time to let your current CPA go! But that’s not all! Commingling personal and business income is an issue that gets investors in hot water with the IRS, but fortunately, Sarah has a simple solution that will help you avoid legal pitfalls altogether. You’ll also learn how to set up software, systems, and accounts that make your life easier! In This Episode We Cover Five things every rookie investor should know about bookkeeping How to choose an accounting software that best aligns with your investing goals Red flags to look for when hiring (or firing!) a certified public accountant (CPA) Why you NEED an investor-friendly tax preparer (and how to find one!) Preventing liability issues by separating your personal and business income The differences between CPAs, bookkeepers, and financial planners (and which one to hire!) And So Much More! Links from the Show Ask Your Question on the BiggerPockets Forums Join BiggerPockets for FREE Find Investor-Friendly Tax and Financial Experts Buy “The Book on Tax Strategies for the Savvy Real Estate Investor” Find Investor-Friendly Lenders See Ashley at BPCON2024 in Cancun! Real Estate Accounting for Newbies (00:00) Intro (00:58) Advice for New Investors (07:44) Software & Business Accounts (17:15) Systems & Chart of Accounts (24:48) Hiring (and Firing!) CPAs (30:04) HUGE Bookkeeper Red Flags (33:06) Connect with Sarah! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-439 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Every real estate deal is hard work, whether your investing strategy is house flipping, buy and hold, or even wholesaling. If your goal is to not only get a great deal under contract but also make money after closing, you won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! When we last spoke with husband-and-wife investing duo Sean and Ann Wayne, they had completed twelve deals—an impressive feat for any new investor. But over the last three years, they have discovered all kinds of tips, tricks, and strategies that have helped them triple their output in that time. How did they do it? In today’s episode, they’re going to update you on their investing journey and share their findings with you! Tune in as Sean and Ann teach you about flipping houses and home renovations. Along the way, you’ll learn about the importance of design proposals—your secret weapon for organizing rehab projects, managing your timeline, and keeping your budget in check. You’ll also learn how to save money on materials, the biggest dos and don’ts when working with contractors, and some of the biggest rookie mistakes to avoid on any project! In This Episode We Cover What you must know before starting your own house flipping business Why crafting a design proposal is crucial before kicking off a rehab project The number one mistake rookies make between contract and closing Why it’s so important to define roles within your real estate business How to find and keep a good contractor (and the dos and don’ts of managing them) Why you can’t afford NOT to have a survey done before a house flip And So Much More! Links from the Show Real Estate Rookie Facebook Group Ask Your Question on the BiggerPockets Forums Join BiggerPockets for FREE Buy “The Book on Flipping Houses” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie – Episode 63: Diverging From Corporate Life to Flip Houses Full-Time with Sean and Ann Wayne (00:00) Intro (00:44) Current Portfolio & Strategy (05:55) How to Find Deals (09:30) Working with the City (15:24) Design Proposals 101 (17:52) Saving Money on Materials (26:11) Getting Creative with Design (30:41) KEY Advice for Rookies Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-438 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Not quite ready to invest in real estate? Maybe you’re still getting your finances in check or saving for a bigger down payment. In any case, don’t sit on your hands! While you wait, there are plenty of things you can do to become a more knowledgeable investor and prepare for your first deal! Welcome back to another Rookie Reply! Today’s episode is jam-packed with essential tips for those who are just starting out. First, what market should you invest in? Ashley and Tony will show you how to identify up-and-coming neighborhoods before they explode! Most investors will also need to furnish a short-term rental or renovate a distressed property at some point in their journey. We’ll show you a hack that could help you save thousands of dollars when buying materials, furniture, and décor. At what point should you hire a bookkeeper? Can you manage your own books? Tune in for a few real estate accounting tips! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover What EVERY rookie must learn before investing in real estate How to save thousands of dollars when furnishing (or renovating) your rentals When to hire a bookkeeper for your real estate business (and how to do it yourself!) How to analyze a market and niche down on up-and-coming neighborhoods Required reading for new investors (and the best skills to learn!) And So Much More! Links from the Show Real Estate Rookie Facebook Group Ask Your Question on the BiggerPockets Forums Join BiggerPockets for FREE Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie – Episode 429: The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, & Deals w/ Ariel Herrera Check Out the BiggerPockets Market Finder Tool (00:00) Intro (00:49) Do I Need a Bookkeeper? (06:43) Finding Up-and-Coming Neighborhoods (12:48) The BEST Way to Fund Your Projects (20:48) What to Know BEFORE You Invest (30:18) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-437 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Owning rentals could help you become financially free, afford you more time with family, and allow you to travel the world. Whether you’re stuck in a career you dislike or you need a more flexible job, you’re about to learn that real estate investing could be your golden ticket! Welcome back to the Real Estate Rookie podcast! Despite earning six-figure salaries as engineers, Emily Love and her husband were stressed, exhausted, and dissatisfied at their nine-to-five jobs. So, with the goal of one day trading their W2s for financial freedom, they set out to buy their first rental property. Little did they know that ONE deal would quickly snowball into a real estate portfolio with twelve doors—allowing them to leave their engineering careers behind and replace their income with a concoction of cash flow from rentals, co-hosting, and consulting! Do you dream of leaving your job and becoming a full-time real estate investor? You won’t want to miss this episode! Emily shares how she reverse-engineered her cost-of-living number to set clear investing goals, used the profits from her first property to build her portfolio, and created multiple streams of income in her real estate business! In This Episode We Cover How Emily and her husband replaced TWO six-figure salaries with real estate Why your FIRST real estate deal is so important for achieving your investing goals How to scale a portfolio that allows you to leave your nine-to-five job Reverse-engineering your cost-of-living figure to find your investing strategy How to start (and scale!) your own co-hosting business from scratch The BEST ways to find high-quality contractors for your renovation projects How to extract multiple income streams from your real estate business And So Much More! Links from the Show Real Estate Rookie Facebook Group Try Hospitable, The Highest-Rated Vacation Rental Software Join BiggerPockets for FREE Buy the Book “Start with Strategy” Find an Investor-Friendly Agent in Your Area See Ashley at BPCON2024 in Cancun! Real Estate Rookie – Episode 347: How to Quit Your W2 Job and Become a Full-Time Real Estate Investor (00:00) Intro (00:48) Life Before Real Estate (07:31) Current Portfolio & First Deal (15:16) “Snowballing” with Rentals (21:28) Leaving Her W2 Job (26:58) Creating Other Income Streams (34:59) How to Start Today! (36:54) Connect with Emily! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-436 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you’re holding out for the “perfect” deal, you’ll always be on the sidelines. Today’s guests weren’t afraid to take on a challenge with their first rental property, and it paid HUGE dividends. Not even an expensive market or extensive rehab could stop them from making money and reaching their investing goals! Welcome back to the Real Estate Rookie podcast! Noreen and Derek Eddy are a real estate investing power couple who took a big risk with their first deal—a distressed, multifamily property that had recently been foreclosed on. To make matters worse, they were forced to turn their renovation project into a live-in flip once their contractor didn’t hold up his end of the bargain. Rather than straining their relationship, this DIY project brought them closer together, and today, the property’s revenue covers most of their mortgage! In this episode, you’ll learn all about the low-money-down loan you can use to finance your property and renovation costs, as well as a lesser-known strategy you can use to find rare deals in a competitive market. Finally, Noreen and Derek will offer advice on dealing with tenants and how to get along while living under the same roof! In This Episode We Cover Whether you should buy a multifamily property as your FIRST investment 203(k) loans explained, their pros and cons, and when to get one How to cover your mortgage using the house hacking strategy Finding rare deals outside of the multiple listings service (MLS) How to become a landlord and what to include in your lease agreements Why tenant placement is the KEY to a successful house hack And So Much More! (00:00) Intro (00:53) Finding a RARE First Deal (13:07) 203(k) Loans Explained (18:28) Investing with Your Spouse (20:46) Numbers on the Property (25:29) House Hacking with Tenants (32:38) 2AM Police Visits!? (39:11) What’s Next for the Eddys? (42:43) Connect with Noreen & Derek! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-435 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Home renovation projects aren’t cheap, and it’s easy to let your budget spiral out of control if you’re not careful. Fortunately, we have several tips, tricks, and hacks that will help you save a fortune on your rehabs—from finding deals on materials to an investor hack that gives you money back every time you place an order! Welcome back to another Rookie Reply! Are you investing out-of-state? We’ll show you how to find, vet, and manage contractors from miles away in today’s episode. Not sure if you’re ready to buy your next rental property? In this episode, we’ll break down a listener’s financials and help them (and you!) make the right choice. But that’s not all. Perhaps you’ve thought about renting by the room to help cover your mortgage but don’t know whether house hacking is for you. Make sure you listen to Ashley and Tony’s advice before diving in! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover The BEST places to find materials for your home renovation projects How to save money on material orders with THIS investor hack When to buy your NEXT property (and why you always need an exit strategy!) How to find, vet, and manage contractors when investing out-of-state What you MUST know before using the rent-by-the-room investing strategy And So Much More! (00:00) Intro (01:01) Rent-By-The-Room Strategy (08:30) BEST Places to Buy Materials (16:35) Should I Buy Another Property? (21:39) Managing Contractors Remotely (34:32) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-434 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Starting a real estate business is one of the best ways to achieve financial freedom, replace your W2 income, and leave your nine-to-five. Why? Because you don’t need a ton of money OR a rental property to get started. Today’s guest built a million-dollar business with just $150, and in this episode, she provides the blueprint for you to do the same! Brittany Hailey and her husband were living in an expensive market and working low-paying jobs when they were introduced to short-term rentals. They eagerly bought a house and turned their mother-in-law suite into an Airbnb, and right off the bat, this tiny rental skyrocketed to the top of the listings and covered 100% of their monthly mortgage payment. With proof of concept, Brittany decided to launch her own management side hustle with just $150. Little did she know that this fledgling business would soon allow her to quit her W2 job and bring in over $1,000,000 in annual revenue! Ready to launch your own profitable real estate business from scratch, just like Brittany did? Tune in as she shows you how to start a vacation rental management company with little to no money and scale it into a wealth-building machine. Along the way, you’ll learn which services to offer, how to compete with national brands, and how to keep homeowners and guests happy! In This Episode We Cover How Brittany started a real estate business with $150 (and grew it to over $1,000,000!) Covering your entire mortgage payment by converting extra space into rentals How to create multiple streams of income within your real estate business The FIRST hire you should make when building your real estate team The advantages small businesses have over national vacation rental brands How to keep homeowners and guests happy when managing a short-term rental And So Much More! Links from the Show Join BiggerPockets for FREE Join the Real Estate Rookie Facebook Group Find Investor-Friendly Lenders Property Manager Finder See Tony and Ashley at BPCON2024 in Cancun! Grab Your Copy of “Short-Term Rental, Long-Term Wealth” Real Estate Rookie - Episode 373: Wiping Out $130K of Debt in ONE Year With THIS “Steady” Real Estate Business with Nicole Rutherford (00:00) Intro (00:48) Launching Her Airbnb (05:22) Leaving Her Nine-to-Five (12:41) Vacation Rental Management 101 (18:44) What Services Should You Offer? (23:30) Competing with National Brands (26:19) Creating Multiple Income Streams (35:12) How to Build Your Team (40:52) Over $1 Million in Revenue?! (44:12) Connect with Brittany! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-433 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Anyone can buy rentals, whether you have some money to deploy or very little to your name. With seemingly everything working against her, today’s guest managed to buy not one, not two, but THREE properties to support her and her daughter on their journey to financial freedom! Welcome back to the Real Estate Rookie podcast! Bella and River are a mother-daughter investing duo who, just a few years ago, were facing dire circumstances. In a short amount of time, Bella lost her eyesight, foreclosed on her home, and went through a divorce—leaving her with low income and no immediate way to increase it. But when a family member introduced her to real estate investing and brought her a deal, she jumped at the opportunity. Today, this duo has a small portfolio of three rental properties and five doors! In this episode, you’ll hear about the unique strategies Bella and River are using to choose their markets, vet contractors, screen tenants, complete home renovations, and manage their portfolio. Stick around until the end to hear how they plan to take down their next property, a short-term rental in Indiana, and achieve financial freedom within the next five years! In This Episode We Cover How THIS investing duo built a small real estate portfolio from scratch Putting no money down on an investment property with seller financing Creative strategies for vetting contractors and screening tenants What to do when a rental property isn’t projected to cash flow How to assemble and manage a team when investing out-of-state How Bella and River are on track to reach financial freedom in FIVE years And So Much More! Links from the Show Join BiggerPockets for FREE Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Property Manager Finder See Tony and Ashley at BPCON2024 in Cancun! Real Estate Rookie – Episode 415: $9K/Month Cash Flow, Scaling FAST, & Saving Thousands in Taxes by Doing THIS w/Riley McFarland Buy the Book on Medium-Term Rentals, “30-Day Stay” 00:00 Intro 00:41 Losing Her Health, Home, & Marriage 04:15 Discovering Real Estate 10:43 Current Portfolio & FIRST Deal 17:32 Building Teams (Out-of-State!) 22:54 Finding New Markets 29:04 How to Vet a Contractor 33:54 How to Vet a Contractor 35:21 Connect with Bella & River! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-432 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Buying a house is a HUGE decision, whether you’re an experienced investor or a first-time homebuyer. The last thing you want is to get in over your head with a property you can’t afford. In this Rookie Reply, Ashley and Tony are going help one of our listeners crunch the numbers and point them in the right direction! Dealing with tenants can be difficult, especially as a new landlord. What should you do when your tenant wants to make repairs or changes to their unit? How should you react when a tenant wrongly accuses you of something? The truth is that landlord-tenant relationships are tricky to navigate, but in today’s episode, we’ll lay out a game plan for managing conflict. Finally, we’ll discuss an issue you might encounter with your short-term rentals. When should you cancel an Airbnb reservation and issue a refund to your guest? Stick around to find out! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover Whether you should buy a house before paying off debt How to determine whether you can actually afford a property before you buy How to negotiate rental property repairs with your tenants When you should cancel an Airbnb stay (and refund your guest!) The BEST strategies for managing conflict with your tenants And So Much More! (00:00) Intro (00:56) Negotiating Repairs with Tenants (06:49) I’m Being Accused of Theft!? (13:10) Can I Afford This House? (20:10) Canceling an Airbnb Stay (32:11) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-431 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You get a call one day from the fire department, telling you, “You’ve had a house fire that’s destroyed your rental property.” What do you do first? Check on the tenants, call the insurance company, or start thinking of ways to financially recover? Your tenant has lost all their belongings; you’ve lost an investment you worked hard to acquire. If everyone is safe, what’s the next step you should take? Or, a more important question: what would you have wished you knew BEFORE this happened? If you think the elite investors at BiggerPockets are immune to these tragedies, you’re wrong. BiggerPockets CFO Aaron Sallade was in this exact position earlier this year when he got a phone call no one wants to receive. His property was destroyed, but thankfully, his tenant walked away unscathed. He now needed to go through the next steps: submitting insurance claims, getting restoration quotes, and, if he chose to do so, selling the property. Aaron shares the entire timeline from the rental burning down to reaching out to insurance, getting restoration quotes, and eventually deciding what to do with the property. He even dives into what he wishes he had known BEFORE this tragic event, and not hearing his advice could cost you! In This Episode We Cover What to do when a tenant accidentally burns down your rental property Why you MUST require renters insurance on every property in your portfolio Filing rental property insurance claims and how long it’ll take to get paid for the damages Rebuilding vs. selling and whether it’s worth the time to renovate a burnt-down home The rarely discussed “1033 exchange” that can help you during a tragic event like a house fire The two things you NEED before you can get reimbursed from your insurance company And So Much More! (00:00) Intro (01:05) First Rental Property Numbers (03:55) "Your House Was Destroyed" (06:49) Getting the Tenant Settled (09:10) Working with Insurance (13:15) Restoration Timeline and Insurance Payout (14:47) What to Know BEFORE This Happens (18:53) Rebuild or Sell? (22:52) Other Options to Sell (26:46) Final Numbers On the Rental (28:32) Insurance Rate Changes (30:50) Worst Case Scenario Resolved! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-430 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Harnessing the power of data gives you an enormous advantage in your real estate investing journey, allowing you to discover up-and-coming markets or find deals that are flying under the radar. While crunching the numbers might seem like hard work, there are all kinds of software, tools, and templates to lighten the load! Welcome back to the Real Estate Rookie podcast! Today, data scientist Ariel Herrera returns to the show to offer more advice for investors who want to find the next BIG market (before it takes off!) and source better real estate deals. Whether you’re just getting started or already have a few rental properties under your belt, this episode is brimming with helpful tips—from niching down to specific neighborhoods to using artificial intelligence (AI) tools for EASY market research! Tune in to learn which data points are most important when choosing a market and how to use “census tracts” to make an informed decision. You’ll also learn about the three biggest competitive edges you can gain in real estate (even as a complete rookie!). But that’s not all. Ariel will even show you how to craft a “map” of up-and-coming areas that best align with your investing strategy, long-term goals, and personal preferences! In This Episode We Cover The MOST important data points to consider when choosing your market Why census tracts are your “secret weapon” for neighborhood analysis Harnessing the power of artificial intelligence (AI) to streamline market research How to create a “map” that helps you identify up-and-coming areas to invest How to leverage data science and automation to find better real estate deals And So Much More! (00:00) Intro (01:26) 3 Ways to Gain a Competitive Edge (10:15) Which Data Points Are Important? (17:31) Strategy-Dependent Data (20:14) Other Crucial Data Points (26:15) Building Your Investing “Map” (31:41) Using Market Data to Find Deals (35:09) Connect with Ariel! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-429 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Most investors buy rental properties for cash flow, and the fear of losing money keeps many rookies on the sidelines. How can you be certain that you’re going to make a profit before you buy? Today, Ashley and Tony will show you how to do your due diligence so you don’t get stuck with a problematic property! Welcome to another Rookie Reply! Property expenses are a necessary evil of real estate investing, but in this episode, we’ll show you how to stop these costs from ruining your cash flow. But that’s not all. We also offer tips for managing rehab projects and staying on budget, from building a detailed scope of work to implementing tools and software that will help you stay organized throughout your project. Should you list your rental property online? We discuss the benefits of creating a Google Business profile, and finally, we settle the great debate between paying cash for a property and taking out a mortgage! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). Support Today's Show Sponsor, Hospitable! In This Episode We Cover How to ensure a deal will cash flow before buying the property Building a scope of work (step-by-step) and tools to keep your rehab project on track The pros and cons of paying cash for a property versus getting a mortgage How to get your rental property to show up on Google Maps Why you NEED to create a Google Business profile for your Airbnb How to prevent capital expenditure (CapEx) from eating into your cash flow And So Much More! (00:00) Intro (01:25) Will My Deal Cash Flow? (08:17) How to Manage a Rehab Project (17:14) Listing Your Property on Google (26:04) Paying Cash vs. Getting a Mortgage (37:12) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-428 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you have a cash flow problem? Maybe property management fees are setting you back, or you’re spending too much on repairs and maintenance. Today, we’re bringing you a powerful solution that will not only solve your cash flow problems but also help you scale your portfolio faster than you ever thought possible! Welcome back to the Real Estate Rookie podcast! Jenn and Joe Delle Fave were content with buying one rental per year, an impressive feat for any rookie investor. But then they discovered an investing strategy that gave them even more buying power and the ability to take down several deals each year. Since pivoting to this business model, they spend less time managing their properties, enjoy three different types of cash flow, and help renters become homeowners in the process! In this episode, Jenn and Joe will tell you everything you need to know about the rent-to-own strategy and how to get started without buying any new rentals. Along the way, you’ll learn about building your buy-box, finding and screening high-quality tenant-buyers, and creating option and lease agreements. They will even walk you through one of their deals and share some potential rent-to-own pitfalls to avoid! In This Episode We Cover The most “passive” way to get MORE cash flow from your rentals The three types of cash flow that come with rent-to-own homes Why the rent-to-own strategy is the easiest way to scale your portfolio How to build your rent-to-own buy box and find high-quality tenant-buyers The two agreements you NEED when placing a new tenant-buyer And So Much More! (00:00) Intro (01:05) What Is Rent-to-Own? (08:34) THREE Types of Cash Flow?! (16:58) Lease & Option Agreements (26:00) The Renter's Path to Homeownership (33:34) Getting Started & Common Pitfalls (38:58) Where to Find Tenant-Buyers (44:32) Connect with Jenn & Joe! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-427 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you dream of becoming a full-time real estate investor? Having the financial stability to leave your W2 job might seem like an eternity away, but if you start investing now, it doesn’t have to take as long as you think. Just ask today’s guest, who was able to achieve financial freedom in just THREE years! Welcome back to the Real Estate Rookie podcast! Jayson Ewert spent six years in the U.S. Army before realizing he didn’t want to be a military man forever. While renting a house with a few friends, he was amazed by how well his landlord was doing and wondered whether real estate investing might be an option for him. Before long, Jayson had read Rich Dad Poor Dad cover to cover and was determined to start buying small multifamily properties. Six deals later, Jayson has completely replaced his W2 income, allowing him to commit his time and energy to managing his portfolio and finding more deals! In this episode, Jayson dives into house hacking, an investing strategy he uses to help cover his living expenses. He also shares some of his biggest lessons learned, including what he wishes he had known before dealing with vacancies, evictions, and other unforeseen expenses. If you have an Airbnb, you won’t want to miss the pro tip that will ensure you stay competitive! In This Episode We Cover How to become a full-time real estate investor (and finally leave your W2 job!) Covering your mortgage payment and living expenses by house hacking What you must do each month to make sure your Airbnb stands out How to squeeze MORE cash flow from your portfolio with short-term rentals What you can do today to prepare for vacancies, evictions, and major repairs Why choosing the “right market” isn’t as important as you probably think And So Much More! (00:00) Intro (00:50) Life Before Real Estate (07:29) Jayson’s Portfolio & FIRST Deal (12:36) Becoming a Full-Time Investor (16:49) Costly Vacancies & Evictions (25:00) Managing His Portfolio (27:52) House Hacking 101 (34:38) $20K/Year from ONE Rental! (39:34) Connect with Jayson! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-426 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You’re working hard to build generational wealth. But have you thought about a succession plan for your growing real estate portfolio? Today, we’re going to show you several ways to create a better life for your children while reinforcing the values of hard work, sacrifice, and entrepreneurship! Welcome back to another Rookie Reply! Want to get more Airbnb bookings? In today’s episode, we’ll show you how to choose short-term rental amenities that will improve your bottom line. We also dive into seller financing and how to make your lender whole if you need to sell the property. We even discuss a unique type of real estate business that allows you to make a huge profit without owning any property. Finally, should you ever buy rental property if it won’t cash flow on day one? Stay tuned to find out! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover How to create generational wealth through real estate and pass it down to your children A “unique” real estate business that lets you make money without owning rentals How to choose amenities that will help you get MORE Airbnb bookings Whether you should ever buy a rental property that won’t cash flow right away Seller financing explained and how to make your lender whole if you sell a property And So Much More! (00:00) Intro (00:44) Passing Down Generational Wealth (10:05) Choosing Airbnb Amenities (15:28) Seller Financing 101 (19:33) Making Money Without Rentals (26:49) Does It NEED to Cash Flow? (32:42) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-425 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you want higher rents, more cash flow, and fewer hiccups, you DON’T need to buy more rental properties. You need better systems and processes. By implementing tactics, strategies, and procedures he learned from the military, today’s guest has achieved enormous success in his real estate business and is going to show YOU how to do the same! Welcome back to the Real Estate Rookie podcast! Angel Garcia has a modest real estate portfolio of five properties and is in no hurry to buy more. Meanwhile, he has managed to optimize each one of his units for the highest possible rent, cash flow, and appreciation. His secret? Taking the knowledge he has learned as a lieutenant colonel in the U.S. Army and applying it to real estate investing. With standards and protocols for every scenario and a team that is always dialed in, Angel’s business runs on autopilot! Whether you’re still trying to pin down your investing strategy or looking to stabilize your portfolio with better systems, you don’t want to miss out on this episode! Angel equips you with all of the know-how, tools, and resources you might need to get the most out of your portfolio, regardless of how many rentals you own. Apply Angel’s five “tactical” tips and watch your business take off! In This Episode We Cover How to improve your real estate portfolio for higher rents and better cash flow The one thing you MUST do before buying more rental properties “Battle drills,” “battle rhythms,” and other “tactical” tips for running your business Must-have systems and processes for out-of-state investing How to create effective standard operating procedures (SOPs) for your business And So Much More! (00:00) Intro (00:57) Stabilizing His Portfolio (08:19) Must-Have Systems & Processes (18:00) “Battle Drills” & PACE Plans (27:50) “Battle Rhythms” & SOPs (42:26) Executing the Mission! (46:20) Connect with Angel! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-424 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You DON’T need a ton of money to find and fund real estate deals. Despite earning just $15,000 per year, today’s guest found the perfect property for him and scrounged the money to close. If you’re willing to learn, network, and put yourself out there, you can do the same! Todd Fullerlove Jr. had recently graduated college, gotten married, and welcomed his first child when the reality of starting a family hit him like a ton of bricks. Living paycheck to paycheck, his little family was forced to move in with his mom. Todd knew something had to change and decided to give real estate investing a try. The only problem? He had no money! Fortunately, Todd had learned that you don’t need to be sitting on a pile of cash to get started. So, Todd did what every smart investor does—he found the deal first! From there, he built relationships and raised capital. Just by taking action, Todd has completed five deals in five years! In this episode, Todd will show you how to find and fund off-market deals through the power of private money. You’ll also get a full breakdown of the short sale process, from working with banks to navigating home appraisals and broker price opinions (BPOs). Stick around until the end to hear about the loan Todd used to buy his first rental property with low money down! In This Episode We Cover How Todd went from making $15,000 per year to landing five real estate deals How to get 100% funding for your deals through the power of private money Short sales explained and why banks are motivated to work with you What you NEED to know before tackling DIY home renovation projects The BIG difference between a home appraisal and a broker price opinion (BPO) Buying rental properties with low money down using USDA loans And So Much More! (00:00) Intro (01:02) Making $15K/Year?! (07:36) Finding His First Deal (13:30) How to Find Private Money (22:10) Structuring a Private Money Deal (26:40) DIY Home Renovations (32:49) Buying Rentals & Todd’s Portfolio (39:45) Connect with Todd! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-423 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
You have home renovations in the pipeline…but who’s going to manage them? Do you need the expertise of a general contractor, or can you manage tradespeople yourself? With so much at stake, including your budget and timeline, we’re here to help you make the right choice! Welcome back to another Rookie Reply! In today’s episode, we’re bringing you expert tips to help with your renovations, from hiring general contractors to structuring agreements and more. We also talk about what to do when you’ve got around $100,000. Between house hacking, flipping houses, the BRRRR method, and other tactics, the sheer number of options can seem overwhelming. But not to worry—we’ll point you in the right direction! Feel like it’s too late to invest? We’ve got some expert investing strategies to share, even for a late starter. Finally, we discuss some creative ways to buy rental properties, including seller financing, DSCR loans, and more! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover Hiring a general contractor versus self-managing your home renovations How to choose your investing strategy (for new investors and late starters!) Three types of general contractors (and which one to hire for YOUR project) How to structure a general contractor agreement (and what to include) Creative ways to buy rental properties with a high debt-to-income (DTI) ratio The advantages of seller financing and DSCR loans over conventional loans And So Much More! (00:00) Intro (00:41) How to Invest $100K (07:14) Hiring General Contractors vs. Self-Managing (16:34) General Contracting Agreements (22:39) Is It Ever TOO Late to Invest? (29:06) Investing with a High DTI Ratio (36:45) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-422 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
A rental property that doesn’t cash flow can be a nightmare for new investors. But when the numbers no longer work, remember that not all is lost. Pivoting to another investing strategy can help save your property and get you right back in the green! Welcome back to the Real Estate Rookie podcast! Investor Kayley George had already built a small portfolio when she stumbled across an old, colonial-style home on the multiple listings service (MLS). With big plans to convert it into a fourplex, Kayley bought the property at a huge discount and got right to work—teeing up a hard money lender and kicking off renovations—only to uncover several MAJOR issues with the house. Fortunately, tuning into a previous Rookie episode helped her find another strategy and SAVE the “misfit” property. Today, this unique house brings in over $7,000 each month! Not sure what to do with your rental? In this episode, you’ll learn about a business model that allows you to not only make a huge difference in your community but also boost your monthly cash flow—sober living. Along the way, Kayley will show you how to get bank financing for a sober living house, partner with nonprofits, find a property manager, screen tenants, and more! In This Episode We Cover Boosting your cash flow and helping others with THIS business model The power of partnering with nonprofits for property management How to properly source and screen tenants for a sober living home Setting expectations for tenants (and what to include in your lease agreements) Common mistakes and financing challenges you’ll face with sober living And So Much More! (00:00) Intro (01:03) Doubling Her Cash Flow?! (09:19) Sober Living 101 (17:30) Partnering with Nonprofits (23:57) How to Screen Tenants (30:20) Expectations & Lessons Learned (35:21) TOUGH Financing Challenges Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-421 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Most real estate investors wait to save significant down payments on every property to grow their portfolios. But twenty-four-year-old Greyden Piechnick didn’t have time to wait. He knew creative financing was the only way. Troubled by his father’s serious health woes while still a high school senior, Greyden became extremely motivated to find financial freedom to spend quality time with his loved ones, and multifamily investing was the fastest way to reach this goal. Greyden delivered pizzas, worked twelve-hour factory shifts, and lived at home to save $20,000, his first down payment on a duplex in 2021. Using the BiggerPockets podcasts and Facebook groups to level up his investing knowledge, he later closed on a nine-unit building using negotiating finesse and seller financing. Despite some BIG issues, Greyden’s efforts have yielded serious results with sizable cash flow at both properties! Greyden’s real estate journey illustrates the power of creative financing and how anyone, starting from ANY point, can invest! Through hard work, he’s crafted a lifestyle that fits his vision of what’s truly important. If you don’t want to wait another second to get on track to financial freedom, follow in Greyden’s footsteps! In This Episode We Cover How to start investing in real estate at a young age, even with NO experience and little money The power of creative financing and using it to buy bigger, better properties One expensive lesson Greyden had to learn that YOU should avoid at all costs How to negotiate seller financing terms that are a win-win for you AND the seller Funding your down payments with private money (and how to find private money lenders!) And So Much More! (00:00) Intro (01:03) A Huge Wake-Up Call (02:29) Delivering Pizzas and Factory Shifts (05:51) Buying the First Rental Property (08:30) 9-Unit Seller Finance Deal! (15:30) Negotiating the Price and Down (22:59) Finding Private Money (24:19) Real Estate Negotiation Tips (27:14) ash Flow Numbers! (28:13) Expensive Lessons Learned (31:02) Self-Managing vs. Property Management (33:57) What's Next for Greyden? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-420 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Real estate is a people business. You could buy several rental properties, but without the right people in the right roles, you’re going to be swimming upstream. Today’s guest has dedicated many years of study to this problem and is here to help you make better people decisions! Welcome back to the Real Estate Rookie podcast! The success of your real estate business largely depends on the people around you, from partners to property managers. Ahead of the release of his new book, Good Judgment, industrial-organizational psychologist Richard Davis, Ph.D joins the show to share his perspective on the crucial decisions that could make or break your real estate journey. Whether you’re looking to form investing partnerships, find good contractors, or hire property managers, this is an episode you won’t want to miss! Tune in as Richard talks about the five main personality traits and how they predict behavior. Along the way, he busts some of the myths surrounding emotional intelligence (EQ) and shares the most important questions you should ask someone to determine if they are the right fit for your team. You’ll even learn about the power of perceptivity and why it’s SO important for you to keep this “cognitive muscle” strong! In This Episode We Cover Why behavioral psychology plays a HUGE role in real estate investing How to make better people decisions in your real estate business KEY questions to ask potential partners, contractors, property managers, and employees The five main personality traits explained (and Richard’s take on them) Why emotional intelligence (EQ) is not a good predictor of behavior And So Much More! (00:00) Intro (01:17) What Is Behavioral Psychology? (08:26) The Emotional Intelligence “Myth” (14:22) Perceptivity & Good Judgments (23:44) “Power” Questions to Ask (34:13) Forming GREAT Partnerships (39:14) Richard’s New Book! (40:38) Find the Right Fit! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-419 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you get your property management wrong, you could lose tens of thousands of dollars. A sketchy property manager could take all your rent and run, leaving you with the bills and no hope of recovering your long-lost rent checks. That’s precisely what happened to today’s guest, a seasoned real estate investor who’s even looked up to as an expert in the industry. Even he made a sizable property management mistake, and in this episode, we’re trying to help you avoid the same fate. The BiggerPockets Podcast Network is bringing you a crossover episode with the Real Estate Rookie podcast’s Ashley Kehr and the BiggerPockets Money podcast’s Scott Trench. Scott is not only the host of BiggerPockets Money but also the CEO of BiggerPockets. And today, he’s sharing every painful detail about how he lost over $40,000 by hiring a bad property manager. This IS an avoidable mistake, but some easily overlooked red flags could put you in the same position as Scott unless you’re very careful. Scott shares the entire story and gives the top red flags to look out for. He’ll explain why he DOESN’T give his whole portfolio to one property manager, why you MUST set communication standards from the start, the questions EVERY investor should ask before hiring a property manager, and the fees you should refuse to pay the next time you outsource your property management. Need a property manager? We’ll share the best tool ANYONE can use to find a property manager TODAY! In This Episode We Cover Deadly property management red flags and signs you should run from a property manager Why you never, EVER give your entire portfolio to a single property manager/property management company Simple questions to ask that immediately show if a property manager is legit Negotiating fees and why Scott is okay with paying a higher monthly rate Communication expectations and what a property manager should be sending you EVERY month The easiest way to find a great property manager wherever you invest And So Much More! (00:00) Intro (01:31) Hiring the Property Manager (03:48) Things Start Going Wrong (06:23) Losing $40K! (09:43) Property Manager Red Flags (15:50) Questions You MUST Ask (23:45) Negotiating Fees (30:16) Asset Type Matters! (35:05) Communication Expectations (37:40) Vetting for Legitimacy (43:27) Find a GREAT Property Manager Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-418 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you want an asset that offers a TON of cash flow? Multiple income streams? How about forced appreciation? Today, we’ll introduce you to an often-overlooked investing strategy that has something for everyone! In 2018, Dylan Kidd was diligently climbing the corporate ladder. But a grueling schedule meant his family was getting his “leftovers,” and something had to give. Fortunately, he discovered real estate investing at the perfect time. Within only a few months, he had become passionate about small multifamily and bought several properties. But eventually, he saw that these smaller deals could only take him so far, which is when he pivoted to commercial real estate—a move that unlocked all types of investing opportunities and helped him amass over 200 “units”! In this episode, you’ll hear about an “underrated” asset class that offers enormous cash flow and various revenue streams. The best part? This niche has low competition, making it easy for rookie investors to claim a piece of this profitable pie! Now an experienced broker, Dylan will not only show you how to find, analyze, and finance these deals but also teach you the art of sourcing and nurturing leads! In This Episode We Cover The “underrated” asset class that offers huge cash flow and MANY income streams The investing strategy Dylan used to scale to over 200 units in just SIX years How to find, analyze, and buy your first campground (step by step) How to build and scale your portfolio FAST with commercial real estate The art of sourcing commercial real estate leads (expert tips from a real broker!) Taking down larger deals through the power of partnerships and seller financing And So Much More! (00:00) Intro (00:50) 209 Units in 6 Years! (06:34) Scaling with Campgrounds (14:58) Finding & Analyzing Deals (25:44) Dylan’s FIRST Commercial Deal (35:02) How to Buy a Campground (40:34) Sourcing Leads & Cold Calling (43:09) Connect with Dylan! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-417 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Finding and funding real estate deals are the two biggest obstacles new investors face today. Are these skills preventing you from building your portfolio? You’re in luck. Today’s expert will show you how to find, analyze, and finance deals like the smartest investors do! Welcome back to the Real Estate Rookie podcast! Henry Washington is not only a big-time investor with well over 100 doors but also a fellow podcast host and new author here at BiggerPockets. In anticipation of his upcoming book, Real Estate Deal Maker, he joins the show to discuss the common challenges of finding and funding deals. Henry is bringing you expert tips for all situations, whether you’re trying to pin down your sourcing strategy or find creative ways to buy rental properties. In this episode, Henry will not only explain why finding a rental property is FAR more important than funding it but also share his most effective strategy for sourcing GREAT deals. He also walks you through an initial call with a seller, where you’ll learn how to build trust and present seller financing as a win-win for both sides! In This Episode We Cover The two biggest obstacles new investors face (and how to solve them!) Why finding a deal is FAR more important than funding a deal How to choose the right strategy for sourcing deals Seller financing explained and how to build trust with sellers What you MUST find out about a property during an initial call How to use seller motivation to help you land a GREAT deal And So Much More! (00:00) Intro (00:59) How to FIND Deals (08:51) Henry’s Go-To Sourcing Strategy (13:49) What Makes a “Great” Deal? (20:17) The Motivation to Sell (24:20) Building Trust with Sellers (27:48) How to FUND Deals (34:26) Seller Financing 101 (38:16) Connect with Henry! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-416 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Real estate investing and contracting go hand in hand, but not many investors are bold enough to tackle their own home renovations. Today’s guest is, however, and he’s about to show you the business model he uses to create a ton of cash flow, scale his portfolio, and save a fortune on taxes! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Riley McFarland, who happens to be one of Ashley’s general contractors, as well as an investor closing in on twenty doors. Having grown up around real estate, Riley knew that owning rental properties was one of the best ways to build wealth. But after taking a few contracting jobs, he discovered a knack for home renovations as well. By combining the two, Riley has a thriving business that brings in $9,000 in monthly cash flow and more in tax benefits! In this episode, Riley talks about how he runs his investing-contracting business like a developer and buys MORE rentals in the process. He also shares the best value-adds for boosting equity and why he prefers to buy the “ugliest” rentals he can find. He even gets into the process of estimating rehab costs during an initial walkthrough and leaves you with several crucial questions to ask before hiring a general contractor! In This Episode We Cover The benefits of being a general contractor who also invests in real estate How to turn a HUGE profit by buying, fixing, and flipping “ugly” rentals Tax advantages of having your own investing/contracting business How to save a fortune on your rehab projects with DIY home renovations Key questions to ask when vetting an investor-friendly contractor The BEST and most affordable value-adds for growing equity And So Much More! (00:00) Intro (00:48) Growing Up with Real Estate (07:06) Why Investing AND Contracting? (13:40) Walking Properties & Finding Contractors (20:30) Project Management 101 (25:54) The BEST Rental Value-Adds (28:38) Vetting Contractors & DIY (32:03) Investing Tips for Contractors (35:42) Connect with Riley! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-415 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you dream of building a real estate empire and reaching financial independence but stop short due to the “tenants and toilets” problem? The irony wasn't lost on twenty-nine-year-old Dillon Leonard when a renter accidentally burned the roof off one of his properties. This incident, along with several others, prompted him to explore self-storage investing as a way to escape residential rentals while still allowing him exposure to real estate. Knowing little to nothing about this often-forgotten segment of the market, Dillon sought expert advice by taking local self-storage owners out for coffee. He soon took action on a 12,000 sq. ft. property for around $300,000 and tripled his investment in a year’s time. Encouraged, he scaled his portfolio over the next three years and now receives approximately $70,000 in gross monthly revenue from 800 units! Dillon’s self-storage success story has allowed him to build a team and implement systems to run day-to-day operations. Not yet thirty, he now enjoys options that many twice his age wish they had, including potentially retiring from the fire department, spending more time with family, and leaving a property package as a legacy. Tune into this episode to explore the nuts and bolts of the self-storage industry as well as the inspiring mindset realizations that Dillon has experienced in his journey! In This Episode We Cover Finding financial freedom by investing in often-overlooked assets (like self-storage!) The exact method Dillon used to find the most lucrative self-storage properties How to scale in self-storage using a variety of financing methods The due diligence practices you MUST utilize to be successful How to know when hiring a team becomes essential – and how to pull it off Why an entrepreneurial mindset frees you from financial fear no matter what happens Why it’s never too soon to start crafting your exit strategy And So Much More! (00:00) Intro (01:14) Residential Rental Woes (05:09) Escaping Tenants & Toilets (07:38) 1st Self-Storage Deal (10:34) Financing Self-Storage (12:53) Self-Storage vs. Rentals (19:13) Growing His Self-Storage Business (22:47) Time Management Tips & Tricks (26:04) Scaling through Creative Financing (27:50) Hitting Financial Freedom! (31:09) Acquisitions and Due Diligence (34:55) Systems and Processes (37:23) Quitting His Job Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-414 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
If real estate investing was easy, everyone would be doing it! The truth is that, despite the financial freedom and flexibility it offers, investing is hard work. And it’s even more difficult if you’re working a full-time job or raising a family. But with good time management and a little sacrifice, you can do it! Welcome back to another Rookie Reply! In today’s episode, we talk about the challenges of juggling a nine-to-five job and investing. We also discuss some of the most important documents you need when creating lease agreements or inheriting tenants. Are BAD neighbors causing headaches and scaring away your best tenants? We have several solutions to this problem—including one that will help you avoid the issue before you commit to buying a rental property: ordering a property survey and setting boundaries! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover How YOU can make time for real estate investing while working nine-to-five Three documents you need to be in place when inheriting tenants How to deal with troublesome neighbors (while buying more rentals!) Why you MUST include lien prohibition notices in your lease agreements Why every investor should order a property survey before buying a rental property And So Much More! (00:00) Intro (00:46) Making Time for Real Estate (07:49) Inheriting Tenants 101 (12:51) Lien Prohibition Notices (17:21) Dealing with BAD Neighbors (26:15) Do You Need a Survey? (31:58) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-413 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to invest but fear you don’t have enough money to get started? Building a profitable real estate business could be the answer. This strategy allowed today’s guest to not only scale her portfolio but also develop skills to level up her own rental properties AND bring in $600,000/year! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by the “accidental investor,” Terri-Leigh Huleis. Married with three children, Terri and her husband didn’t have enough money to buy a house…or so they thought. After moving from California to a more affordable market, Terri was able to make her dream of homeownership a reality. Little did she know that this was just the beginning of her real estate journey. It wasn’t long before Terri had turned her passion for interior design into a $600,000/year business—one that has allowed her and her husband to scale in very little time! After being diagnosed with a brain tumor in 2016, Terri lives every day as if it’s her last. This self-starter’s story is filled with all kinds of helpful nuggets you can use on your own journey—from finding creative ways to fund home renovation projects to setting up an Airbnb in four weeks or less. Stick around until the end to hear about the top amenities you’ll want to add to your short-term rental in 2024! In This Episode We Cover How Terri grew an interior design business that pulls in $600,000 per year Using credit card rewards to fund an ENTIRE home renovation project How to start a business that allows you to buy even MORE real estate Landing your first interior design clients (even if you don’t have a portfolio!) How to design an Airbnb, step by step, in just four weeks or less The hottest amenities to add to your short-term rental in 2024 And So Much More! (00:00) Intro (00:42) Buying Their First House (09:52) Starting an Interior Design Business (18:18) Making $600K/Year?! (26:43) Short-Term Rental Design 101 (35:24) Money-Making Airbnb Tips (38:12) Connect with Terri! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-412 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
If you’re willing to get your hands dirty, new builds and home renovations can deliver a HUGE return on investment (ROI). Just ask today’s guest! After passing up on a deal that became a cash cow for another investor, he decided to put an end to his analysis paralysis, earn his general contracting license, and get right to work! Today, we’re joined by a former The Bachelorette contestant, NCAA Division I quarterback, and new investor. Despite many years in the spotlight, Tyler Cameron doesn’t plan to escape the public eye just yet—trading a rose for a hammer in his latest show, Going Home with Tyler Cameron. In today’s episode, he discusses his journey into real estate, which began shortly after inheriting his childhood home. Wanting to honor his late mother, Tyler completed several renovations—making his fair share of mistakes along the way. Even with some tough lessons learned, the property rents for a pretty penny, giving him and his brothers another reliable stream of income. Tune in to learn why Tyler got started in real estate (and why he almost didn’t), what drew him to new construction, and how he has built a three-million-dollar portfolio in only THREE years. He also offers his best short-term rental tips and shares why so many investors are flocking to his hometown of Jupiter, Florida—a growing market where high appreciation is the norm! In This Episode We Cover How Tyler built a three-million-dollar portfolio in just THREE years Why market uncertainty shouldn’t stop you from investing in real estate The keys to a successful home renovation project or new build Why new construction might offer you the BEST return on investment (ROI) Short-term rental tips for new investors (and why the customer is “always right”) Why MORE investors are buying rental properties in Jupiter, Florida And So Much More! (00:00) Intro (01:02) Renovating His Childhood Home (04:47) $3M in 3 Years?! (09:29) Life in the Spotlight (13:42) KEY Lessons Learned (21:57) Short-Term Rental Tips (25:38) Investing in Jupiter, Florida (30:28) New Builds vs. Renovations (32:38) “Going Home with Tyler Cameron” (36:08) Connect with Tyler! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-411 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Private money is a “secret weapon” for real estate investing, allowing you to dodge the major banks and fund real estate deals on your terms. But just how easy is it to get this type of funding? The answer might surprise you. You don’t want to miss this masterclass on direct lending! Welcome back to the Real Estate Rookie podcast! Concluding our three-part miniseries on the fundamentals of funding, we’re diving into direct lending with investor and fellow BiggerPockets host Henry Washington. In this episode, he covers the different types of direct lending options that are available to new investors—including private money and hard money—and discusses the many reasons why he uses them to build his own real estate portfolio! Unfortunately, too many investors adopt a scarcity mindset and throw themselves at the mercy of any big bank that might finance their deals. Henry’s about to prove why lenders need YOU more than you might think and teach you how to craft the perfect private lending pitch from that position! He also shows you how to properly vet a lender and shares what you can do today to build relationships with the smaller lenders in your community! In This Episode We Cover How to obtain private money and get funding on your terms Why lenders need YOU just as much (if not more) than you need them Hard money versus private money (and which type of loan is right for you!) How to properly vet a lender before giving them your business How to craft the perfect pitch to a private money lender The BEST ways to build relationships with smaller, local lenders And So Much More! (00:00) Intro (01:17) What Is Direct Lending? (05:53) Building Relationships (11:55) How to Vet a Lender (20:17) Working with Private Money (28:14) The Perfect Private Money “Pitch” (33:59) What If You Can’t Pay? (40:00) Connect with Henry! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-410 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Knowing how to get a mortgage is a crucial step in your journey to buy a rental property. Of course, the money side of things can be intimidating. How do you find a lender? What type of mortgage do you need? When should you get a preapproval? You likely have all sorts of questions…and we have answers! Welcome back to the Real Estate Rookie podcast! In part two of our fundamentals of funding miniseries, certified mortgage advisor Jeff Welgan joins the show to share his lending expertise and equip rookies with some golden financing tips. In this episode, he debunks some of the most common misconceptions about real estate lending and shares some of the biggest red flags to watch out for in a lender. But that’s not all. Jeff will show you an EASY way to build an entire portfolio with very little money—a lesser-known strategy that allows you to use down payment assistance programs and first-time home buyer loans to your advantage. Jeff also talks about the biggest differences between conventional and non-conventional loans, what to expect during the underwriting process, and where he expects mortgage rates to be in the not-so-distant future! In This Episode We Cover: The EASY way to build your rental portfolio with low money The mortgage approval timeline and what to expect during the underwriting process How to get 100% financing (or more!) with down payment assistance programs The biggest red flags to watch for in a lender (and key questions to ask!) How to get a first-time home buyer loan (even if it’s NOT your first property!) The most common misconceptions surrounding real estate lending Conventional loans versus non-conventional loans (and which one YOU need) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Join the Real Estate Rookie Bootcamp Grab the BiggerPockets Investing Books Property Manager Finder Real Estate Rookie 408 – Fundamentals of Funding: How to Find the Right Lender for Your Next Rental w/Joe Coleman BiggerPockets Real Estate 939 – BiggerNews: 100% Financing for First-Time Home Buyers is HERE BiggerPockets Real Estate 943 – BiggerNews: Can’t Qualify for Another Mortgage? Try THESE Investor Loans w/Jeff Welgan Connect with Jeff: Jeff's BiggerPockets Profile (00:00) Intro (01:09) Funding Challenges & Lender Red Flags (07:00)) Common Financing Misconceptions (12:10) Kicking Off the Lending Process (17:26) Getting a Loan with an LLC (22:50) The Lending Timeline & Credit Pulls (28:48) Mortgage Underwriting 101 (35:23) Conventional vs. Non-Conventional Loans (41:30) Where Are Mortgage Rates Headed? (46:54) Connect with Jeff! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-409 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Financing rental properties is a common roadblock that prevents many rookies from investing in real estate, but finding a great lender doesn’t have to be difficult! We’ve got some timely tips, tricks, and tools that will make funding ALL of your real estate deals easier than ever! Welcome back to the Real Estate Rookie podcast! Today, we’re bringing you part one of a three-part miniseries on the fundamentals of funding. We’re joined by investor concierge at BiggerPockets, Joe Coleman, who shares some of his best advice for financing your first (or next!) rental property. In this episode, he peels back the curtain to reveal some of the nuances of financing—including when to start engaging lenders while analyzing rental properties and how to find an investor-friendly lender. Wish you could compare several loans at once? Joe shares a powerful tool that will help you do just that. He also talks about the differences between consumer-purpose and business-purpose loans and why you should be familiar with the different types of lenders and loan products that are available. Finally, stick around until the end to learn about the ONE question your lender doesn’t want you to ask—one that could help you save thousands of dollars on your investment property! In This Episode We Cover How to find funding for your first (or next!) real estate deal The ONE question you must ask your lender (that will save you a TON of money) The different types of lenders and loans you NEED to know about The easiest way to compare multiple lenders at the same time Why you should know a lender’s source of capital before borrowing from them Consumer-purpose versus business-purpose loans (and which one YOU need) And So Much More! (00:00) Intro (03:53) WHEN Do You Need a Lender? (07:26) Common Financing Misconceptions (11:50) Different Types of Lenders & Loans (20:08) Loan Requirements & Speaking with Lenders (28:26) The EASY Way to Compare Lenders (39:01) Lock In Your Interest Rate! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-408 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you tired of paying someone else’s mortgage? Then you’re in the right place. In today’s show, we’re sharing how to buy a home in 2024, even as a complete beginner, as we walk through a rookie’s step-by-step journey to purchasing his first primary residence, which could also become a rental! If you feel like you’re in the same position and want to be the receiver, not the sender, of monthly rent checks, tune in as we walk through how today’s rookie is gearing up to become a first-time homebuyer! Aaron Mann was tired of renting. After being around real estate investors at his day job, he started to feel like he was missing out. Meanwhile, his wife was reading a slew of BiggerPockets books and told Aaron it was time to look into buying—he agreed! This couple is now beginning their house-hunting journey and has already zeroed in on their strategy, investing area, and what they want to buy. With the help of our own Ashley Kehr in the BiggerPockets Real Estate Rookie Bootcamp, Aaron is set to close on his first home in the near future. Want to get YOUR first rental property or primary residence this year? Tune in and start taking these beginner steps! Sign up for a BiggerPockets Bootcamp today to get on the path to buying your FIRST or next rental property! In This Episode We Cover How to buy your first home or rental property within the next year! The “house hacking” strategy that allows you to significantly save on your mortgage payment How to save for a down payment and the basics of budgeting for first-time homebuyers The one program that helps you to find discounted properties in your area Getting a mortgage and the steps to take to see how much you can afford The one zero-percent-down loan that most homebuyers have no idea about And So Much More! (00:00) Intro (01:26) Deciding to Invest (07:09) Best Beginner Investing Strategy (12:23) Finding Properties (13:41) Saving for a Down Payment (26:56) Picking a Market (29:29) Getting a Mortgage (35:04) Join the Rookie Bootcamp! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-407 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
What goes into a commercial real estate deal? You’re about to find out! Fortunately, buying one of these properties isn’t quite the jump from residential real estate as you might expect it to be. Whether you’re a new investor or own several rentals, YOU, too, can buy a commercial property! Welcome back to the Real Estate Rookie podcast! A few months back, we chatted with Tony about his new thirteen-unit hotel in Utah. Since then, the hotel has officially launched, and today, we’re joined by not only Tony but also his wife, Sara, to discuss the ins and outs of this enormous project. With months of planning, rehabbing, and problem-solving in the rearview, they break down the deal from start to finish—sharing some of their biggest successes, as well as some important lessons learned. If you’re interested in commercial real estate investing, you don’t want to miss this episode! You’ll learn how to create a budget for a large renovation project, choose a model for paying contractors, get better reviews for your short-term rental, and form a seamless partnership with your spouse! In This Episode We Cover How the Robinsons planned, rehabbed, and launched a thirteen-unit hotel Implementing self-check-in convenience on a commercial property How to create a watertight budget for a large renovation project Effective strategies for managing and paying your contractors How to divvy up responsibilities when investing with your spouse How to get MORE bookings (and keep your property occupied year-round!) And So Much More! (00:00) Intro (02:43) Managing & Paying Contractors (09:43) Numbers on the Hotel (15:37) HUGE Lessons Learned (18:49) Self-Check-In Challenges (25:11) Building a Team & Getting Reviews (28:41) Working with Your Spouse (35:17) Connect with the Robinsons! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-406 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
MANY people invest in real estate for financial freedom. Unfortunately, not all investors get there. The truth is that a little cash flow won’t allow you to quit your W2 job or support an early retirement. You need a LOT of cash flow, or you need a bigger portfolio! Welcome back to the Real Estate Rookie podcast! With two college degrees and a successful career, Dan Marklin had what many people envy in life. But one day, after realizing that the top rung of the corporate ladder wasn’t as glamorous as it seemed, he began to dream of something more—a job that would afford him total financial freedom and allow him to spend more time with loved ones. It wasn’t long before Dan had dived headfirst into the world of real estate investing, buying his very first rental property. In this episode, Dan will show you the method he used to scale his portfolio from zero units to over ninety doors in just THREE years! Along the way, you’ll learn the differences between cash flow, cash-on-cash return, and an even MORE important data point to consider when analyzing rental properties. But that’s not all. Dan spares no detail when recalling one of his real estate horror stories and shares how YOU can overcome the challenges of multifamily property investing! In This Episode We Cover: How to achieve financial freedom by investing in real estate Why YOU should start investing in small multifamily in 2024 Cash flow, cash-on-cash return, and internal rate of return explained The MOST important data point to consider when analyzing properties How to scale your portfolio WITHOUT sacrificing time or cash flow And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Analyze Your Rental Property with the BiggerPockets Calculator Real Estate Rookie 346 – The Multifamily Investing Masterclass: How to Get Started in 2024 BiggerPockets Real Estate 496 – Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner Books Mentioned in This Episode: Buy, Rehab, Rent, Refinance, Repeat by David Greene The Book on Managing Rental Properties by Brandon & Heather Turner Connect with Dan: Dan's BiggerPockets Profile Dan's Instagram Profile Dan's Facebook Profile (00:00) Intro (01:05) The Journey to Financial Freedom (07:55) EASY First Steps (13:02) How to Analyze Rentals (19:52) Buying the First Property (23:45) Dan’s “Horror” Deal (33:14) Finishing the Rehab & Scaling (39:38) Connect with Dan! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-405 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
How do you know if a rental property will make enough cash flow before you buy? Budgeting is KEY. When breaking down a deal, it’s critical that you account for the costs of all capital expenditures (CapEx), maintenance, and repairs. Overlooking an important line item could easily put you in the red! Welcome back to another Rookie Reply! In today’s episode, we’re going to show you how to budget for the everyday operating costs that come with owning rental properties, as well as how to set minimum cash flow requirements when analyzing a rental. Should you find a partner for your next house hack? We get into the potential advantages and disadvantages of joining forces with other investors. We also talk about the many tax benefits in real estate and whether you need a limited liability company (LLC) to maximize them! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover How to budget for everyday rental expenses, maintenance, and repairs How to set minimum cash flow requirements when analyzing deals The pros and cons of forming a real estate investing partnership for a house hack How to distinguish capital expenditures from repairs and maintenance Whether you NEED an LLC to reap all of the tax benefits of real estate investing And So Much More! (00:00) Intro (00:31) Claiming Tax Write-Offs (04:02) Budgeting for Property Expenses (15:45) Partnering on a House Hack? (23:42) CapEx vs. Repairs & Maintenance (26:37) How Much Cash Flow Do You Need? (32:37) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-404 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Buying small multifamily properties is an easy way to build a portfolio, and with a little creativity, you don’t even need a ton of money! Despite a rocky start to his real estate journey, today’s guest was able to take advantage of a HUGE investing opportunity and buy several properties in very little time. Welcome back to the Real Estate Rookie podcast! Like many new investors, Sean Reischel started out using the house hacking strategy. Unfortunately, things didn’t go to plan, as an incident involving spaghetti and his garbage disposal ultimately drove a tenant out of his property. However, Sean was able to turn this bad situation into a golden opportunity by renovating the unit, raising rents, and placing a new tenant quickly. Fast forward only a few years, and Sean and his wife own five small multifamily properties worth a combined $2.7 million! Whether you need help with financing or partnerships, this episode is loaded with practical tips that even the greenest investor can use. Sean shares how he teams up with other investors to buy properties faster, as well as how rehabbing and refinancing properties has increased his buying power. He even dives into his main markets—Salt Lake City, Utah and Louisville, Kentucky—and the investing strategies he deploys in these areas! In This Episode We Cover How Sean turned a house hacking “hiccup” into $2.7 million in small multifamily How to analyze real estate deals using the one-percent rule What to look for when choosing a new market to invest in Using the power of refinancing to buy MORE rental properties How to scale your real estate portfolio faster with partnerships And So Much More! (00:00) Intro (01:11) Sean’s FIRST House Hack (06:55) The “Spaghetti” Fiasco (12:49) Renovating the Damaged Unit (21:33) The Louisville, KY Market (27:22) Finding & Funding Deals (33:26) Changing Roles & the Investor “Pitch” (38:16) Connect with Sean! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-403 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
The hardest part of real estate investing is, of course, getting started. Once you have your first rental property, it’s much easier to scale your real estate portfolio than you might think—even if you don’t have much money to your name! Earning modest salaries from their nine-to-five teaching jobs, Rob Schou and his wife couldn’t afford a large down payment on an expensive property. But by starting multiple side hustles and sharpening their DIY home renovation skills, they were able to purchase a cheaper property and add value to it. The best part? This created a “domino effect,” giving them more capital and momentum for future deals. Even when they didn’t have everything figured out, taking action and having multiple exit strategies meant they always turned a profit—even when a project didn’t go to plan! In this episode of the Real Estate Rookie podcast, you’ll hear about some creative side hustle ideas you can use to fund your next down payment. You’ll also learn how to choose a niche that aligns with your long-term goals, as well as how to build your “buy box” and find the right market. But that’s not all. Rob even dives into new construction, showing you how to buy land, vet builders, and more! In This Episode We Cover The “domino effect” and how ONE deal can help you land your next deal How to find the perfect investing strategy for your long-term goals How to build your “buy box” and choose a market to invest in Lucrative side hustles that can help fund your next down payment Why you MUST have multiple exit strategies for every new deal How to properly vet a builder for new construction projects And So Much More! (00:00) Intro (00:58) Buying the Vacation Home (10:51) Side Hustling for Down Payments (16:39) Analysis Paralysis & Finding Your Niche (24:16) New Construction 101 (28:26) How to Vet a Builder (36:17) Choosing Your “Buy Box” & Market (42:37) Connect with Rob! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-402 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want more cash flow with less stress while running your rental property portfolio? Then you need self-management! Amelia McGee and Grace Gudenkauf, seasoned investors and the minds behind BiggerPockets’ newest book, The Self-Managing Landlord, show you exactly how to do it. This episode peels back the curtain on the misconceptions that scare most investors away from self-managing their properties (like those feared 2 AM toilet emergencies!). Amelia and Grace expose how these scenarios are less frequent than most people think and offer smart strategies to handle them effortlessly. The duo dives into the financial perks of taking the reins on property management, from dramatically cutting costs to boosting tenant retention and cash flow. They lay out a spectrum of management models—from DIY to hiring a dedicated team—and share their personal triumphs (and trials) within each approach. This is THE practical playbook for making property management a cornerstone of your real estate success. You’ll learn how to establish effective systems for tenant onboarding, routine maintenance, and urgent repairs, ensuring your property management is both stress-free and profitable. Whether you’re just dipping your toes into real estate investing with your first property or looking to refine your existing portfolio, this episode is packed with actionable tips that promise to make your portfolio more passive! In This Episode We Cover: How to lower your costs and boost your cash flow significantly with self-management What being a landlord is actually like, and why it’s not all 2 AM toilet calls Building your real estate team so you can handle less of the day-to-day and focus on the big picture Practical advice for setting up systems that streamline tenant onboarding and property maintenance Grace’s $8,500 bookkeeping mistake that you CAN NOT afford to make Tips for handling urgent property issues with WAY less stress And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Get RentRedi Property Management for FREE with a BiggerPockets Pro Membership: BiggerPockets Pro RentRedi Real Estate Rookie 111 - 26 Doors in 1 Year? Here’s How You Can Do It Too! w/Amelia McGee Real Estate Rookie 161 - Using Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace Gudenkauf BiggerPockets Real Estate 938 - Scaling from 0 to 20+ Doors Using These “Self-Management” Tools & Tips w/Amelia McGee and Grace Gudenkauf Tools Mentioned in Today’s Show: Loom Monday.com Connect with Amelia: Amelia's BiggerPockets Profile Amelia's Instagram WIRE (Women Invest In Real Estate) Connect with Grace: Grace's BiggerPockets Profile Grace's Instagram (00:00) Intro (01:10) The Right Way to Manage Rentals (04:42) What Being a Landlord is Like (08:20) Why You MUST Self-Manage (14:42) Onboarding Tenants 101 (20:41) Lease Agreements (26:56) The $8,500 Mistake (30:08) Do This RIGHT Now! (35:09) Building Your Team (41:40) Grab the Book! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-401 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
This episode could make you $40,000. Seriously, one property management mistake cost our own expert investor, Dave Meyer, anywhere from $30,000 to $40,000, BUT it’s easier to avoid than you think. If you’re a rookie real estate investor, this single mistake could sink your portfolio and put you back years on your journey to financial freedom. So, what’s the mistake you must avoid, and how do you circumvent it to make more money while having less stress? It’s Real Estate Rookie episode 400, so let’s save you $40,000! Dave has been investing for over a decade, and he’s made his fair share of mistakes, but this one takes the cake. One simple property management judgment error sent his short-term rental trajectory off a cliff, with a filthy house, no bookings during the peak season, safety problems that left his property in jeopardy, and guests leaving less-than-flattering reviews. But this is a mistake anyone can make, so how do you avoid it? In today’s episode, we’ll get into the nitty-gritty of what cost Dave $30,000 - $40,000, the exact way he’d prevent this from ever happening again, what you should look for in a property manager BEFORE you hire them, and the contract clause that could kill your cash flow! In This Episode We Cover The one property management mistake that could cost you up to $40,000 Property management fees and how to tell a company is a little too cheap Signs you need to fire your property manager before it’s too late The one short-term rental contract clause that could ruin your entire year How Dave’s house almost froze thanks to overlooking one BIG utility And So Much More! (00:00) Intro (03:12) Buying a Property ASAP! (06:57) Great Property, But… (12:23) One Big Mistake (16:05) Things Go Really Wrong (20:07) Losing A TON of Rent (22:48) Costly Lessons Learned (28:43) Get a REAL Property Manager Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-400 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
What’s YOUR reason for investing in real estate? For today’s guest, it was to achieve financial freedom and have a flexible schedule. By focusing on education, forming partnerships, and, most importantly, taking action, she was able to quit her job and acquire seven properties in just THREE years! Welcome back to the Real Estate Rookie podcast! Sarah Msuya was firmly entrenched in her successful banking career when life threw her a series of curveballs. After her son was born prematurely and complications caused her to miss nine months of work, Sarah knew that a traditional nine-to-five was no longer an option for her and her family. She spent the next three years learning as much as she could about real estate and building a portfolio that provides $80,000 in cash flow per year! Like many new investors, Sarah has dabbled in several investing strategies on her journey to financial freedom—from house hacking to flipping houses and everything in between. Eventually, she was able to pin down her niche—the BRRRR method. In this episode, you’ll learn how to find the best strategy for YOU and scale your portfolio through partnerships and creative financing! In This Episode We Cover: How Sarah brings in $80,000 cash flow each year from seven properties Why you DON’T need to look ten years ahead before investing in real estate How to cover your mortgage payment with the house hacking strategy Three property management strategies you can use for your rental property How to scale your portfolio FAST with partnerships, creative financing, and more FHA loan limits explained (and how to avoid a surprise at closing!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Grab Your Copy of “Real Estate Partnerships Real Estate Rookie 207 - Working Towards Time Freedom “In the Trees” with 3 Treehouse Rentals: Real Estate Rookie 742 - How to Achieve Financial Freedom Through Real Estate in 4 Steps: Connect with Sarah: Eileen's BiggerPockets Profile Sarah's Bigger Pockets Profile Sarah's Facebook Sarah's Instagram Sarah's LinkedIn Jump to topic: (00:00) Intro (00:50) HUGE Life Changes (06:42) $80K/Year Cash Flow! (13:31) Sarah’s First House Hack (20:52) How to Scale FAST (27:51) Property Management 101 (31:57) Connect with Sarah! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-399 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Small multifamily real estate investing can lead you to financial freedom faster than you think. Compared to traditional single-family rental properties, small multifamily properties often offer more cash flow, the ability to scale quicker, and less competition than the properties every first-time home buyer is looking for. Small multifamily investing is so good that it remains seasoned investor Dave Meyer’s favorite way to invest after over a decade of investing in rental properties. So, how do you get started? In this episode, we’ll walk through the three beginner steps anyone can take to start investing in small multifamily real estate. We’ll show you how ANYONE can get into this asset class, even with ZERO experience, why small multifamily is the perfect “sweet spot” for rental property investing, and how to overcome the biggest challenges to getting your first deal. But that’s not all. We found a small multifamily rental property for sale and go step-by-step through it, analyzing it within minutes so YOU can do the same for your first or next property. Small multifamily is the perfect place to start your real estate investing journey, and after you watch this episode, you’ll have EVERYTHING you need to start investing! Ready to become a BiggerPockets Pro? Click here to sign up and use code “MULTIPOD24” for a special discount! In This Episode We Cover: Why small multifamily real estate is the perfect “sweet spot” for rookie investors How to get to financial independence faster than you think with duplexes, triplexes, and quadplexes The easiest way to find deals in your target market (for FREE!) How to analyze a real estate deal from start to finish in just minutes The #1 challenge to real estate investing and a simple solution to overcome it Our favorite real estate investing tool that’ll help you do your first or next deal even faster And So Much More! Links from the Show Find an Agent Find a Lender Dave's BiggerPockets Profile Dave's Instagram Real Estate Rookie Facebook Group Get 20% Off a BiggerPockets Pro Membership with Code “YTMULTI24” Analyze Deals in 5 Minutes or Less with Our Rental Property Calculator Determine Monthly Rent with Our Rent Estimator Tool Join a BiggerPockets Bootcamp “On the Market” Podcast Book Mentioned in the Show Real Estate by the Numbers by Dave Meyer and J Scott Jump to topic: (00:00) Intro (05:43) Want Financial Freedom? (10:11) ANYONE Can Do It (11:47) The Investing "Sweet Spot" (12:57) Why Small Multifamily? (16:16) 1. Where to Find Properties (20:09) 2. How to Analyze Multifamily (31:23) 3. How to Get Financing (36:08) Scared to Invest? (38:44) The One Tool You NEED Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-398 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
If you own a rental property, it’s YOUR responsibility to provide a safe environment for tenants. This starts with things like tenant screening, security upgrades, and most importantly, acting swiftly when a resident is in danger! Welcome back to the Real Estate Rookie podcast! Eileen Daugherty is not only the property management business consultant here at BiggerPockets but also a fellow real estate investor, and today, she joins the show to talk about property management, new construction homes, and the importance of tenant safety. Eileen even shares her own real estate horror story, which occurred shortly after buying her first rental property and renting it out. You’ll hear how a neighbor’s seemingly innocent “crush” quickly escalated into a situation where her new tenant was being stalked, hacked, and harassed! In this episode, Eileen shares the biggest learning lessons from this unfortunate experience and the MAJOR changes she made to improve tenant safety at her properties—from installing security cameras to providing virtual private networks (VPNs) and much more. But that’s not all! Stick around until the end to learn what it’s like to invest in the fast-growing market of Asheville, North Carolina! In This Episode We Cover: How to keep your tenants safe with landlord best practices Why it’s worth building relationships with your neighbors and tenants How to find an investor-friendly property manager for your rental properties The three most important factors for choosing an investing strategy How to scale your portfolio FAST with new construction homes The pros and cons of investing in the Asheville, North Carolina market And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Real Estate Rookie 203 – The Ultimate Property Management Masterclass Real Estate Rookie 389 – Rookie Reply: How to Find a Property Manager & Set Up Rentals Out of State 3 Ways to Enhance Rental Property Security Connect with Eileen: Eileen's BiggerPockets Profile (00:00) Intro (50:00) Eileen’s Investing Portfolio (05:17) The Asheville Horror Story (08:23) Stalked, Hacked, & Harassed! (17:12) Relisting the Property (20:27) The BEST Security Additions (27:21) Building a Team & New Construction (32:02) Investing in Asheville, NC (35:26) Connect with Eileen! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-397 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
You want to invest in real estate, but you don’t have the money. Are you out of luck? Good news—money is NOT a dealbreaker. There are several levers you can pull to get the capital you need, and today’s guest is going to share them with you! Welcome back to the Real Estate Rookie podcast! Shortly after being cut, former professional football player Darnell Leslie was determined to try his hand at real estate investing. There was only one problem: he needed money. But, after convincing some family members to partner with him, Darnell quickly realized that he could use other people’s money to fund ALL of his real estate deals. He started building his network and found private money and hard money lenders, using a polished private capital “pitch” to bring them on board. Over the last few years, he has completed five deals using very little of his own money! Is money the ONE thing stopping you from buying real estate? In this episode, you’ll learn everything you need to know to start using other people’s money instead. From structuring private money and hard money agreements to buying materials for your renovation projects, Darnell walks you through each step! In This Episode We Cover: How Darnell uses other people’s money to fund his real estate deals How to start raising private money today (tips for new investors!) Why you MUST have multiple exit strategies when buying property The private capital “pitch” to help you raise funds for your next investment How to structure your private money and hard money agreements The interest-free way to buy materials for your rehab projects And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Rookie Podcast 275 - From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) BiggerPockets Podcast 334 - Using Other People’s Money to Fund Flips, Multifamily, & Self-Storage Deals With Ben Lapidus Book Mentioned in the Show Rich Dad Poor Dad by Robert Kiyosaki Raising Private Capital by Matt Faircloth Connect with Darnell: Darnell's BiggerPockets Profile Darnell's Facebook Darnell's Instagram Darnell's LinkedIn (00:00) Intro (01:23) Football Player to Investor (09:26) The Private Capital “Pitch” (17:39) Structuring an Agreement (23:44) Using OPM & Choosing a Strategy (31:59) How to Find & Analyze Deals (40:46) Funding Rehab Projects (50:04) Connect with Darnell! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-396 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
House hacking and renting by the room are two of the easiest ways for rookies to dive into the world of real estate investing. Both investing strategies are affordable, low-risk, and easy to implement. The best part? They can help cover your mortgage payment each month and give you MORE money to invest! Welcome back to another Rookie Reply! Want to earn some extra cash flow by adding an accessory dwelling unit (ADU) to your rental property? In this episode, we’ll show you how to present your plan to the city and get your new unit approved. If you need money for a down payment, you’ll want to hear about the creative method one of our recent guests used to come up with funds. We even talk about buying abandoned houses—how to locate the “missing” owner and swoop in with your irresistible offer! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover House hacking explained (collecting rents, renovations, and tax benefits!) How to add an accessory dwelling unit (ADU) to an existing property Creative ways to fund the down payment for your next rental property How to find the owner of an abandoned house and make an offer Why you MUST have a lease agreement in place when renting by the room How to remove squatters from your property (with a 100% success rate!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-395 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Added home renovation costs can ruin your plans to own the perfect rental property. When this happens, how do you come up with the extra funds? More importantly, how do you prevent this from happening altogether? We’ve got plenty of answers for you in today’s episode! Welcome back to the Real Estate Rookie podcast! Jessica Bryant Walton owns several doors in Anchorage, Alaska. As you’re about to find out, investing where winters are long, water damage is common, and frozen pipes are everyday occurrences isn’t for the faint of heart. Jessica and her husband had just bought a duplex, only to find out that the previous owner had disguised a MAJOR leak and extensive damage with a second roof. What they anticipated would be a $40,000 rehab ended up costing over $130,000! Fortunately, Jessica and her husband came up with creative ways to fund their renovations, increase rents, and lower their overhead by self-managing the property. But there are valuable lessons to take away from their experience. You’ll learn why you should consider getting your real estate license, how to find the best contractors for your rehab projects, and the importance of always keeping a paper trail! In This Episode We Cover: How Jessica’s $40K renovation turned into a $130K+ “nightmare” rehab Self-management tips for long-term and short-term rentals The BEST way to source contractors for your renovation projects Why you shouldn’t speak with your tenants over the phone What you need to know before investing in an Alaska rental market Why you should get your real estate license (even if you don’t plan to use it!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Rookie Podcast 277 - Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property Rookie Podcast 313 - The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong The Difficult Path to Wealth: Losing Money on Your First Real Estate Deal w/ JL Collins Connect with Jessica: Jessica's BiggerPockets Profile Jessica's Instagram Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-394 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
If you want your rental property to succeed, you’ve got to give people a reason to keep coming back. That’s exactly what today’s guest is doing—creating a one-of-one experience that people can’t get anywhere else. It’s what keeps his property booked year-round! Welcome back to the Real Estate Rookie podcast! Just three years ago, Chase Charifa bought his first rental property—a black, mid-century cabin tucked away in Big Bear, California. By engaging each of the guest’s five senses and adding intrigue with a “secret” amenity, Chase and his wife, April, have created an unforgettable guest experience that allows them to stand out in their market. As a result, this short-term rental brings in about $120,000 per year! But that’s not all. Since launching his Airbnb, Chase has taken on another four rentals, three new construction projects, and a parcel of land. How has Chase been able to scale his portfolio in only a few years? In this episode, he shares how he was able to fund several deals using creative financing and smart tax strategies. He also talks about the huge opportunity that exists with real estate development. You’ll learn how to find land, get approved for a construction loan, and build your own development team! In This Episode We Cover: How Chase brings in $120,000 per year from ONE rental property The best way to get FREE real estate marketing for your short-term rental How to create an unforgettable experience for your Airbnb guests Scaling your portfolio with creative financing and tax strategies How to incorporate a creative skill set into your real estate business Getting started in real estate development and building your team How to get approved for a construction loan (in three steps!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Protecting Your Future in Short-Term Rentals: It Starts By Providing a Powerful Guest Experience The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit How to Start an Airbnb Business in a Brand New Market $11,000/Month with One VERY Unique Rental Property Connect with Chase Chase's BiggerPockets Profile Chase's Facebook Chase's Instagrams: @lightfootcabin @janchasecharifa Chase's LinkedIn Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-393 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Can’t afford to buy a rental property due to your area’s high cost of living? At what point should you quit your W2 job and move elsewhere to realize your real estate investing dream? There are several factors at play here, but we tackle this exact scenario and much more in today’s Rookie Reply! We also talk about partnerships and how to determine who should be responsible for capital, holding costs, and other expenses when flipping houses. Are you inhering tenants? There’s an important agreement you must have in place when taking over the property. Could one of your residents be subleasing your unit without your permission? You’ll learn how to navigate this situation when it comes to light, as well as what to do when a tenant violates your lease agreement. Want to avoid troublesome tenants altogether? Stick around until the end to hear how Ashley finds the best tenants in town! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: When you should consider moving (and quitting your job!) for real estate How to evict a subtenant who is illegally occupying your unit The agreement you MUST have in place when inheriting tenants How to determine who provides the capital in an investing partnership What you should do when a tenant violates your lease agreement How to attract the BEST tenants for your rental properties And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Enroll in the Real Estate Rookie Bootcamp Today Become a BiggerPockets Pro Member for Lease Agreements in Your State Rookie Reply: How to Structure a Real Estate Partnership How to Find Your Perfect First Rental Property (Even in an Expensive Area) Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-392 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
A thriving real estate business without rental properties?! It might sound like an easy way to “invest,” but make no mistake—you’re going to need to sharpen your management, interior design, and problem-solving skills for it to work. Fortunately, today’s guest can bring you up to speed on this low-cost strategy! Welcome back to the Real Estate Rookie podcast! In this episode, Veronica Garreton returns to the show to offer more nuggets of wisdom for new investors. In our most recent episode with Veronica, she shared how she pocketed $150,000 in profit from just ONE luxury rental property. But today, she is going to take a deep dive into the investing strategy that allows her to grow her real estate business without buying more properties—co-hosting! Of course, co-hosting, like any other strategy, is susceptible to the occasional horror story. Tune in as Veronica shares how ONE troublesome guest caused $11,000 in rental damage and how her decisiveness helped her save the day. What is co-hosting and how does it differ from property management? Why are medium-term rentals taking over short-term rentals in certain markets? How do you prevent bad reviews on Airbnb? Stick around for all of the answers! In This Episode We Cover: How Veronica grows her real estate business without buying more properties The co-hosting strategy and how it differs from property management How to earn five-star Airbnb reviews by working at the “speed of luxury” Why investors are moving from short-term rentals to medium-term rentals Why you NEED an exit strategy when investing in a major metro market The “emergency” clause you MUST include in your co-hosting agreements How to furnish your short-term rental (tips from a professional interior designer!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton Wiping Out $130K of Debt in ONE Year With THIS “Steady” Real Estate Business The Overlooked Aspect of Short-Term Rentals: Furnishing—Here’s What You Should Do Medium-Term Rentals: How to Get BIG Cash Flow Out of Small Properties Connect with Veronica: Veronica's BiggerPockets Profile Veronica's Instagram Veronica's Portfolio Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-391 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
With the right rental properties, you could not only bring in thousands of dollars in cash flow each month but also build long-term wealth. Just ask today’s guest! Despite her fulfilling career, she came to the realization that she wasn’t on the path to financial independence and decided to take things into her own hands! Welcome back to the Real Estate Rookie podcast! Yiting Yang is a traveling pediatric neurologist whose multifamily investing portfolio brings in well over $10,000 in monthly cash flow. But that wasn’t always the case. During the early stages of her investing journey, Yiting dealt with difficult lenders, dishonest property managers, delayed renovation projects, and the everyday challenges of out-of-state investing. In this episode, she gets into the mental side of investing and how practicing mindfulness can help you navigate the ebbs and flows of real estate. A conscious investor, Yiting talks about the importance of choosing an investing strategy that aligns with your core values and long-term goals. She even delves into her struggles with financing and why a low interest rate isn’t the be-all and end-all when vetting a lender! In This Episode We Cover: How this traveling neurologist took control of her financial future with real estate Choosing a strategy that aligns with your real estate investing goals When you shouldn’t choose the lender with the lowest mortgage rates The common challenges of managing small multifamily properties Fast-tracking your investing journey through the power of partnerships Why you NEED a top property manager for out-of-state investing How to navigate the mental side of investing in real estate And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Making $7K/Month in PURE Cash Flow with Only 3 Rental Properties w/Bailey Kramer Your Step-by-Step Guide to Buying Out-of-State Investment Properties The Multifamily Invest Masterclass: How to Get Started in 2024 Connect with Yiting: Yiting's BiggerPockets Profile Yiting's Facebook Yiting's Instagram Yiting's LinkedIn Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-390 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Property management is a key component of real estate investing that can make or break your cash flow. Of course, every rookie investor could benefit from having a great property manager on board, but in a competitive market, how do you convince a reputable company to manage YOUR rental property? Welcome back to another Rookie Reply! In today’s episode, we cover not only property management but also out-of-state investing and whether it’s ever a wise decision to change investing strategies from afar. Buying a new property but don’t have an eye for interior design? We’ll show you how to lean into your team and make your rental stand out. We even talk about “haunted” houses! Should you buy one and embrace its eerie history, or run far, far away? Tune in to find out! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to land a GREAT property manager in a competitive market Standing out from the competition with your rental property design How to set up a rental property while investing out of state Why banking and lending relationships are crucial for new investors How to change investing strategies with out-of-state properties Whether buying a “haunted” house is ever a smart investment And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! ‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects The Step-by-Step Guide to Flipping Houses and High-ROI Home Renovationsw/ James Dainard 6 Expert Tips for Out-of-State Real Estate Investing Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-389 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
How many things can possibly go wrong with ONE rental property? Well, you’re about to find out! Today’s guest had to flex her problem-solving skills on multiple occasions to get her “unique” rental up and running, and in this episode, she’s going to show you how she pulled it off! Welcome back to the Real Estate Rookie podcast! Investor Ashley Robinson bought a triplex in the little town of Salida, Colorado, with plans to live in one unit and rent out the other two. Despite her thoroughness during the due diligence phase, however, she ran into several problems along the way—from rental caps and building code issues to financing troubles and poor home appraisals. But Ashley persisted, creatively working through each hurdle until she was finally able to launch her cash-flowing rental property! If you’ve ever hit a roadblock in your investing journey, this episode is for you! Ashley shares how she chose her investing market, changed her property’s use to sidestep rental caps, and got her building fully up to code. She also talks about the ins and outs of commercial loans—getting approved, coming up with large down payments, and refinancing when your property’s appraisal comes back low! In This Episode We Cover: How to convert a residential property to a commercial property Zoning versus land use (and how they work together) The biggest advantages of investing in a smaller market Short-term rental caps explained (and how to work around them!) How to get approved for your first commercial loan Funding a LARGE down payment for a commercial property And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Rookie Reply: What to Do When an Appraisal Comes Back Low? Do You Know the Fundamentals of Zoning Rules? Here’s What You Need to Know Wait: Don’t Get Started On Your Development Project Unless You Have Zoning in Place Connect with Ashley Ashley's BiggerPockets Profile Ashley's Instagram Ashley's Website Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-388 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to begin flipping houses in 2024? With this popular investing strategy, you could build a lucrative and flexible real estate business. All any rookie needs to get started is a few skills and a little know-how, and there’s no better person to get you up to speed than today’s special guest! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by James Dainard, investor, master house flipper, and co-host of the On the Market podcast. James has flipped over 3,000 homes to date, and in this episode, he’s going to show you how to flip your first house, step by step, from start to finish. From creating an accurate budget (and sticking to it!) to choosing home renovation projects that deliver the highest return on investment (ROI), this masterclass has everything you need to make your first flip a successful one. You’ll learn how to find the best contractors for your rehab, strategies to keep your project on track, and why you should involve your real estate agent throughout the entire project—not just when it comes time to list your property for sale. James even shares his own flipping horror story that cost him hundreds of thousands of dollars and the biggest lessons learned from that experience! In This Episode We Cover: How to ensure that your BRRRR property will cash flow before AND after refinancing Creative financing solutions to use when hard money becomes due What you NEED to know before getting into commercial real estate investing How to fully furnish your short-term rentals on a tight budget Addressing rent increases and maintenance issues with difficult tenants And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast A Step-by-Step Guide to Estimating Rehab Costs w/ Master Flipper & Investor James Dainard (Part 1) Finding Contractors, Renovation Red Flags, and Estimating Rehab Costs (Part 2) w/ James Dainard Rookie Reply: Estimating Rehab Costs, Finding “Hard Money,” & Tax Planning Watch James on the “On The Market” YouTube Channel Hear James on the “On The Market” Podcast Wherever You Listen to Podcasts Connect with James James' BiggerPockets Profile James' Instagram James' Website James' YouTube Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-387 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
To land a great investment property, a true diamond in the rough, you’re going to need to master the art of analyzing deals. Whether you plan to use the BRRRR method or buy commercial real estate, we’ve got several tips, tricks, and tools to help you find the perfect property! Welcome back to another Rookie Reply! Not sure whether a property will cash flow? In today’s episode, we’ll help you distinguish a great deal from a not-so-great deal. Do you need to pay back a hard money lender? You’ll want to hear about the creative solutions you can use to get out of short-term debt when refinancing isn’t an option. We also talk about short-term rentals and the best ways to furnish your Airbnb on a budget. Finally, we’ll show you how to manage difficult tenants when they push back against rent increases and damage your rental! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to ensure that your BRRRR property will cash flow before AND after refinancing Creative financing solutions to use when hard money becomes due What you NEED to know before getting into commercial real estate investing How to fully furnish your short-term rentals on a tight budget Addressing rent increases and maintenance issues with difficult tenants And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Analyze Your BRRRR Deals with the BiggerPockets Calculators How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal Making $160K/Year From ONE “Rare” Property Thanks to Seller Financing Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio Analyze Commercial Real Estate Deals Rental Management Tools Mentioned in This Episode: AppFolio Breezeway Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-386 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Could your rental property be occupied by bad tenants masquerading as good residents? After an incident that led to thousands in property damage, a complex insurance claim, and an eviction, today’s guest learned the importance of a watertight tenant screening process. And YOU can, too—without all the drama! Welcome back to the Real Estate Rookie podcast! Chelsea Borden owns four duplexes in Buffalo, New York—an investing market with a low barrier to entry, where new investors can achieve the one-percent rule with relative ease. What Chelsea learned, however, is that it only takes one bad tenant to disrupt an otherwise-smooth long-term rental operation. In this episode, she shares how a family friend caused $11,000 in damage. By acting swiftly, Chelsea was ultimately able to evict the tenant, rehab the property, and place a new tenant. Tune in as Chelsea shares her biggest lessons learned from this costly experience. You’ll learn the ins and outs of filing insurance claims, why you should require your tenants to carry renters insurance, and how to get the ball rolling when evicting a tenant. Chelsea also shares her best tips on home renovation projects, screening tenants, and homeowners insurance policies! In This Episode We Cover: How ONE bad tenant caused $11,000 in rental property damage Why you MUST make renters insurance a requirement for tenants How to start the process of evicting a tenant (and prevent delays!) The many benefits of investing in the Buffalo, New York market How to get high-quality tenants for your long-term rentals The most important factor in any successful home renovation project The insurance “pro tip” that could save you thousands of dollars And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast The REAL Cost of Bad Tenants and “Cheap” Contractors (Mistakes to Avoid!) The $150K “Stolen” Rental Property and How to Avoid a Real Estate Scam Making $115K From a Nightmare First Deal (Cops, Evictions, and Break-Ins!) How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-385 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Making six figures from one rental property is every investor’s dream, but to achieve this, you need to choose the right investing market, buy the right property, and create luxurious “moments” that other rentals don’t offer. Today’s guest is going to show you the ropes of luxury real estate investing! Welcome back to the Real Estate Rookie podcast! When Veronica Garreton decided to try her hand at short-term rentals, she went straight for the big fish—a $750,000 rental property in Joshua Tree, California. At the time, it was the area’s most expensive property listed for sale, and in year one, the rental barely broke even. Using her background in architecture, however, Veronica identified creative value-adds that would attract more guests and allow her to charge her ideal nightly rate. The very next year, she pocketed a whopping $150,000 in pure profit! Whether you own a basic rental or a “luxury” property, there is plenty of wisdom to glean from today’s episode. Veronica talks about analyzing deals, using the power of influencer marketing to get more bookings, and the small touches ANY property owner can make to enhance the guest experience! In This Episode We Cover: How Veronica pocketed $150,000 in profit from a single rental (in one year!) Enhancing your guest experience with simple but effective property additions How to transform your rental property into a “luxury” stay Raising your bottom line and standing out with luxury rentals How to get MORE bookings for your rental with influencer marketing The “rule of three” Veronica uses to analyze luxury short-term rentals And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast How to Start an Airbnb Business in a Brand New Market Should You Convert Your Rental Property Into An Airbnb? 6 Factors to Consider Protecting Your Future in Short-Term Rentals: It Starts By Providing a Powerful Guest Experience Connect with Veronica Veronica's BiggerPockets Profile Veronica's Instagram Portfolio Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-384 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
A property manager can alleviate the burden of screening tenants, collecting rents, and maintaining your property. But if you’re not careful, exorbitant fees and unexpected charges can quickly eat away at your cash flow. Today, you’re going to learn how to navigate this relationship and ensure that you’re getting these services at fair value! In this Rookie Reply, Mindy Jensen from the BiggerPockets Money podcast and Tiamo Wright, Director of Product and Marketplaces at BiggerPockets, are joining us to help field your recent questions. First, we discuss medium-term rentals and how they differ from both long-term and short-term rentals, as well as whether you should invest in real estate while you’re in debt. We also get into real estate development and some of the different ways to fund larger projects. Looking to buy your first short-term rental property but don’t know where to start? Our experts will point you in the right direction! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to “manage” your property manager (and approach conflict!) Whether you can invest in real estate while carrying student loan debt Creative ways to get financing for a new construction project How to buy and launch a short-term rental property The very FIRST step you should take when buying a rental property Mindy’s and Tiamo’s best real estate investing tips for rookies And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Tune in to the “BiggerPockets Money” Podcast Hacking Your Life to Live for (Almost) Free with Craig Curelop How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame ‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects Build Your Investor-Friendly Team The SMARTER Way to Invest in Real Estate Find Out if You’re Eligible for a NACA Loan Connect with Mindy & Tiamo Mindy's BiggerPockets Profile Tiamo's BiggerPockets Profile Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-383 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want a successful, cash-flowing rental property? Make sure you don’t overlook the tenant screening process or hire the “cheap” contractor. Otherwise, you could be dealing with floods, evictions, project delays, and other issues. Fortunately, today’s guest has already dealt with these headaches so that YOU don’t have to! Welcome back to the Real Estate Rookie podcast! Investor Dan Stowell has endured not one but TWO horror stories during his real estate journey. As you’re going to learn today, the consequences of placing a bad tenant or hiring the wrong contractor can be severe. After a tenant caused $47,000 in water damage (and didn’t have renters insurance!) and a renovation on his primary residence turned into a 1,000-day rehab, Dan had every reason to give up on real estate investing. Instead, he tackled each challenge and used these expensive lessons to make him an even better investor! In this episode, Dan offers several tips that will prepare you for anything that could be thrown your way. You’ll learn how to screen a tenant, how to avoid bad contractors, and, most importantly, how to react when things go south. Stay tuned until the very end to find out what became of Dan’s problematic properties! In This Episode We Cover: How Dan survived $47K in water damage and a 1,000-day rehab (on two different projects!) The REAL cost of placing a bad tenant in your rental property How to improve your tenant screening process (and red flags to watch out for!) The BEST way to build out a scope of work for your next rehab project Why you shouldn’t hire the “cheap” contractor for your home renovation project Why documentation is key when dealing with tenant and contractor issues And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability Connect with Dan Dan's BiggerPockets Profile Dan's Instagram Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-382 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Many people buy rental properties for the cash flow, but today’s guest took it to another level—dropping out of college to go all-in on real estate investing. Find out how he brings in several thousand dollars of profit each month and how YOU can replicate his investing strategy! Welcome back to the Real Estate Rookie podcast! Like many new investors, Bailey Kramer started out small—converting long-term rentals into Airbnbs and co-hosting these properties for someone else. After seeing how much money this investor was raking in, Bailey decided that he wanted his own piece of the short-term rental pie. Within eighteen months, he had built his own small portfolio with a focus on cash flow. Today, his three properties bring in a total of $7,000 each month in addition to all of his co-hosting profits! Tune in as Bailey delivers the blueprint he uses to maximize his cash flow. The best part? This strategy is EASY to implement, whether you’re investing in your own backyard or another market entirely. We also get into DSCR (debt service coverage ratio) loans, how to build an out-of-state investing team, and the method Bailey uses to find the perfect neighborhoods to invest in! In This Episode We Cover: The strategy YOU can use to maximize cash flow across your portfolio How to get approved for a mortgage without paystubs or tax returns The low-cost, low-risk way to get into real estate—co-hosting! Why you NEED to build your team before investing out of state Finding the right neighborhood to invest in with the “reverse review” method And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Making $8K/Month from 2 Doors and How to Get HUGE Cash Flow with Fewer Units Seeing Greene: How to Make Even MORE Cash Flow Off Your Rental Properties Cash Flow for Rental Properties: What Is Average or Good? Find a DSCR Loan with OfferMarket Connect with Bailey Bailey's BiggerPockets Profile Bailey's Facebook Bailey's Instagram Bailey's YouTube Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-381 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
You want to start real estate investing, but where should you start? Should you buy a course, join a mastermind, or do your own research? There’s no one-size-fits-all approach to investing, but we can point you in the direction that aligns with your investing goals! Welcome back to another Rookie Reply! In this episode, we’re going to start at square one of your real estate journey. We also get into investing partnerships and how to work “sweat equity” into your partnership agreements. Have you ever come across a property with red flags? Learn when to walk away from a deal and when to double down instead. Finally, stick around until the end as we bring repeat guest Nicole Rutherford on to talk about starting a co-hosting business, vetting co-hosts, and finding a short-term rental market! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How and where to begin your real estate investing journey When to walk away from a deal (and when to double down!) How to structure a real estate partnership (and account for “sweat equity”) Finding the right co-host to help manage your rental property Expert tips for finding a new short-term rental market And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-380 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to know how to buy your first rental property? You’ve come to the right place! It’s no secret that investing in real estate is one of the best ways to achieve financial freedom, yet only a few ever take action. Today, we’re going to provide everything needed to land your next rental property faster than you thought possible! Welcome back to the Real Estate Rookie podcast! In this special episode, Dave Meyer, Vice President of Market Intelligence at BiggerPockets, is teaching you how to buy your first (or next) rental property in just ninety days. This all-in-one beginner course covers everything from analyzing rental properties to financing deals and much more. Whether you’re brand new to the world of real estate investing or looking for an easy way to add another rental to your budding portfolio, this episode is loaded with actionable steps you can take. We’ll even point you to calculators, software, and other tools that will make your job that much easier. So, what are you waiting for? Your ninety-day challenge starts NOW! Ready to become a BiggerPockets Pro? Click here to sign up and use code “ROOKIECHALLENGE” for a special discount! In This Episode We Cover: How to buy your first (or next) rental property in ninety days or less The three core steps to buying long-term rental properties How to analyze deals (in five minutes or less!) like an investing PRO Tools and resources to help you fast-track the buying process The best and most creative ways to find GREAT real estate deals How to unlock financial independence through the power of real estate The most common roadblocks rookies face on their real estate journey And So Much More! Links from the Show Find an Agent Find a Lender Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Get 20% Off BiggerPockets Pro Membership with Code “GOALS24” Analyze Deals in 5 Minutes or Less with Our Rental Property Calculator Determine Monthly Rent with Our Rent Estimator Tool Hear More From Dave On the “On the Market” Podcast Connect with Dave: Dave's BiggerPockets Profile Dave's Instagram Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-379 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Could rental properties help you switch careers, replace your W2 income, or get out of debt? According to today’s guest, yes! Once Dave learned of the flexibility that real estate investing could offer, he left his established career behind and never turned back! Welcome back to the Real Estate Rookie podcast! Dave Williams and his wife were working as traveling physical therapists when they determined that their careers wouldn’t support the lifestyle they wanted. So, they turned to real estate and adopted an amazing strategy—one that allows them to buy a house every few years with low money down before eventually moving out and converting it into a long-term rental. By repeating this strategy, they have been able to build a small, local portfolio with cash-flowing, appreciating properties! In this episode, Dave talks about the value of 2-1 buydowns and the one question you must ask before starting any home renovation project. Looking for a market to invest in? He even shares a list of the BEST neighborhoods in the greater Denver area. But like any investor, Dave has had a few horror stories as well. Stick around to hear how one of his rentals flooded not once, not twice, but THREE times! In This Episode We Cover: How Dave paid off $100K in debt with only THREE rental properties Buying new properties with low money down and converting them into rentals The one question you NEED to ask before making any home renovation How to find properties that deliver cash flow AND appreciation The BEST markets to invest in around Denver, Colorado 2-1 buydowns explained (and when you should use them!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-378 Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Wiping Out $130K of Debt in ONE Year With THIS “Steady” Real Estate Business From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) Paying Off $118K of Debt in 2 Years and Buying Real Estate (16 Units!) Connect with Dave: Dave's BiggerPockets Profile Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Should you invest for cash flow or appreciation? Whether you need another income stream today or have one eye set on retirement, you have your own reason for investing in real estate. It’s important to choose an investing strategy that aligns with your ultimate goal, and today, we’ll show you how! In this Rookie Reply, we discuss the age-old debate of cash flow versus appreciation and whether you can have BOTH. We also get into landlord insurance, limited liability companies (LLCs), and other ways to protect your assets, as well as what to do when a tenant or guest damages your rental property. Could you use a home equity line of credit (HELOC) for your next investment? Stay tuned to learn how it could impact your credit score. But first, you’ll hear from a rookie investor whose investing partner stole $40,000 and get Ashley and Tony’s best tips on structuring a real estate investing partnership! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: Cash flow versus appreciation (and how to invest for both!) How to structure your FIRST real estate investing partnership The best ways to protect your personal and business assets The difference between a home equity line of credit (HELOC) and cash-out refinance How a HELOC impacts your debt-to-income (DTI) ratio and credit score What to do when a tenant or guest damages your rental And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Real Estate Partnerships” and Use Discount Code “PARTNER377” Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies Require Damage Protection Insurance for Your Vacation Rental with Superhog Connect with Jerryian: Jerryian's BiggerPockets Profile Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-377 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Having your rental property stolen?! How is that possible? This would be a worst-case scenario for any investor, and it was nearly reality for today’s guest. Buckle up as we share one of the wildest real estate horror stories you’re likely to hear! Welcome back to the Real Estate Rookie podcast! In this episode, which could be mistaken for the latest entry in your favorite crime drama, investor Matt Drouin tells the bizarre story of how he nearly LOST his $150,000 rental property to a professional scam artist. He shares some of his biggest lessons learned from this incident—including how to screen tenants properly, when to get an attorney involved in the eviction process, and how to avoid scams when looking for your own off-market properties. But that’s not all. You’ll also learn about the many benefits of investing in your hometown, as well as when to branch out and choose a market beyond your backyard. What’s more, you’ll hear about the often-overlooked mixed-use buildings that can be a gateway into commercial real estate investing, and how to take down these deals with creative financing! In This Episode We Cover: How Matt nearly lost his property to a scammer (and how he got it back!) How to avoid scams when searching for off-market real estate deals The competitive advantage you gain by investing in your backyard Buying the “mixed-use building” deals that most investors ignore Using ZERO of your own money on a commercial deal with creative financing How to finetune and automate your tenant screening process And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Ponzi Schemes, Property Fraud, and How to NOT Fall for a Real Estate Scam Trespassers Took Over My Rental Property! (How to Get Rid of Squatters ASAP) Tools to Help You Find Your Market: Become a BiggerPockets Pro Member “On the Market” Podcast Crexi Federal Reserve of St. Louis Marcus & Millichap Improve Tenant Screening and Property Management with AppFolio Connect with Matt: Matt's BiggerPockets Profile Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-376 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Every investor wants a rental property that brings in six figures, but not every investor is willing to scour old listings, bring in a partner, or exhaust all of their creative financing options. If you want the perfect deal, don’t let money get in the way! Today, we’re chatting with former Division II football coach Adam Howard. In just three years, Adam has bought several properties that provide enough cash flow to replace his W2 income. This includes the “crown jewel” of his portfolio and first commercial property, a 13-unit hotel tucked away in a beautiful New York lake town. Adam found this rare deal by digging up an old Zillow listing that was incorrectly described as a single-family home. He was able to get seller financing for the deal, and today, it brings in $160,000 per year! Of course, this success story had its fair share of hiccups. Adam shares how he had to bring in a partner to take down the deal and identify creative ways to add value to the property before charging his ideal nightly rate. He also talks about the challenges of out-of-state investing and why building a strong investing team has been the key to his success! In This Episode We Cover: How to land your FIRST commercial real estate deal without bank financing The “small” commercial properties that are IDEAL for seller financing How to find the perfect investing partner for your next deal Leveraging your retirement accounts to buy MORE properties Raising your nightly rate with the best value-adds for short-term rentals How to find the hidden value in properties with incorrect listings And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Real Estate Partnerships” How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal Commercial Real Estate Fundamentals for Successful Investors Scaling From Single Family to Commercial Real Estate Connect with Adam: Adam's BiggerPockets Profile Adam's Website Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-375 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Every landlord wants the best possible tenants in their rental property, but of course, this doesn’t happen by chance. Today, we’re delivering several tips to help you improve the screening process, work seamlessly with inherited tenants, and raise rents without pushback! Welcome to another Rookie Reply! In this episode, we not only talk about dealing with tenants but also get into the different types of hard money loans and how to use them. Is an accessory dwelling unit (ADU) attached to the property you’re looking to buy? We discuss how showing its potential income can help you qualify for a loan. Finally, real estate investing is no walk in the park, despite what social media might have you believe. Stick around as we touch on some of the hard truths that new investors should know! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to screen tenants for your rental (and the three types of checks you need to run!) Why you NEED estoppel agreements when inheriting tenants Different types of hard money loans (and what they cover) How to bolster your loan approval odds with accessory dwelling unit (ADU) income The hard truths people DON’T tell you about investing in real estate And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Real Estate Partnerships” Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley Tenant Screening Tools for Landlords: BiggerPockets Pro Avail RentRedi AppFolio Buildium TenantReports.com Set Up Your Own Virtual Mailbox with PostScan Mail Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-374 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Building a real estate business is one of the best ways to unlock financial freedom, but that’s not to say that every strategy is the right fit for you. Today’s guest had to strike out multiple times before arriving at the perfect real estate investing strategy! Like many new investors, Nicole Rutherford got her start in the rental arbitrage space, where she would bring in at least $1,500 per unit each month. But once landlords decided to raise rents and more competition arrived, her profits evaporated, and her Airbnb bookings took a nosedive. Suddenly, she was hemorrhaging money. With $130,000 in debt, Nicole was forced to cut her losses and start over. Rather than giving up on real estate investing, however, she simply pivoted to another strategy. Just one year later, Nicole is debt-free and runs a thriving Airbnb co-hosting business with fourteen units! Whether you’re new to the world of real estate or looking to pin down your strategy, there’s plenty of helpful information to glean from this episode. Tune in as Tony and Nicole discuss the differences between arbitrage and co-hosting, the different services that co-hosts provide, and what to include in your co-hosting agreements. You’ll also learn how to leverage your network to find your first clients and how to build trust with property owners! In This Episode We Cover: Building a profitable real estate business (and common mistakes to avoid!) How Nicole climbed out of $130,000 in debt with Airbnb co-hosting Finding your first clients through your own real estate network The importance of maintaining transparency with guests and property owners Key terms and conditions you MUST include in your co-hosting agreement How to pivot to a new investing strategy when one isn’t working Why you DON’T need to hit a home run on your first real estate deal And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Making $140K/Year & Retiring His Wife in 18 Months with “Rental Arbitrage” w/Keron Bryce How to Start an Airbnb Business in a Brand New Market Rookie Reply: How to Choose Your Real Estate Investment Strategy Connect with Nicole: Nicole's BiggerPockets Profile Nicole's Instagram: @_nicolerutherford_ Nicole's LinkedIn Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-373 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
For some people, real estate investing is “too risky.” But what if a small, cash-flowing portfolio could provide financial stability when you lose your job? If you asked today’s guests, they might say it’s too risky NOT to buy rental properties! Welcome back to the Real Estate Rookie podcast! Kevin and Julia Windheuser got into real estate at the perfect time. Shortly after building a small portfolio with six total doors, Kevin was let go from his “safe” engineering job. With no W2 income, the couple leaned on the steady income from their rentals. This $4,000 monthly cash flow bought them the time to not only work on their real estate business but also find Kevin a new job. In this episode, you’ll learn about the power of a “small and mighty” rental portfolio and how it can insulate your finances when times are tough. Kevin and Julia also talk about why they chose a market just outside their backyard, as well as how they estimate rehab costs. Tired of bad tenants? Julia shares the unique screening process she uses to guarantee the best tenants in town! In This Episode We Cover: How to build a small portfolio of cash-flowing rental properties How multiple streams of income can save you financially in life Choosing a market when your backyard is too expensive to invest Home renovation projects YOU can tackle (and which ones to outsource) Simple ways to estimate rehab costs as a new investor How to improve your screening process and get better tenants in your rentals And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio Making $10K/Month with a “Small and Mighty” Rental Portfolio How to Screen Tenants for Rental Property Rental Management Tools for Landlords: RentRedi Stessa Connect with Kevin & Julia: Kevin and Julia's Instagram: @luxlivingri Check the full show notes here: https://www.biggerpockets.com/blog/rookie-372 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Need to estimate rehab costs or calculate ARV (after-repair value) on a property? For new investors, these tricky tasks can often make or break a deal. But, as always, our hosts are here to deliver some helpful tips! Welcome back to another Rookie Reply! After diving into rehab costs, discussing hard money, and weighing the pros and cons of FHA loans, real estate tax strategist Natalie Kolodij returns to the show to deliver some extra tax advice. She talks about passive losses and why you need to carefully track them from year to year, as well as how tax benefits are allocated in real estate investing partnerships. Stick around until the end to learn the ONE mistake you can’t undo on your tax return! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to estimate rehab costs and calculate after-repair value (ARV) The pros and cons of FHA loans (and when to get a conventional loan instead!) How to find the right hard money lender for your next deal Why you NEED to track your passive losses (even if you can’t use them this year) The ONE tax benefit you can never get back if your taxes are filed incorrectly Using losses to offset earned income with the short-term rental “loophole” How tax benefits are allocated in a real estate partnership And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Find a Hard Money Lender Grab Your Copy of “The Book on Estimating Rehab Costs” Hear Our Last Episode with Natalie How to Use “Hard Money” to Flip Houses, BRRRR, or Buy More Deals FHA vs. Conventional Loan: What’s the Difference? Should You Start Investing With an FHA Loan? Here’s Why... Or Why Not Connect with Natalie Natalie’s BiggerPockets Profile Natalie’s Facebook Natalie’s LinkedIn Natalie’s Instagram Natalie’s Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-371 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Airbnb arbitrage is a real estate investing strategy that provides a low-cost, low-risk entry point for new investors. While you don’t get the appreciation or tax benefits of property ownership, arbitrage can deliver cash flow in spades! Welcome back to the Real Estate Rookie podcast! Like many investors, Keron Bryce started house hacking to help cover his mortgage. Once he discovered the potential of short-term rentals, however, he converted his unit into an Airbnb and doubled his cash flow right off the bat. But Keron still aspired to grow his business. So, without a ton of money for down payments, he decided to try his hand at arbitrage—a strategy that helped him rake in $140,000 of pure profit last year and allowed his wife to leave her nine-to-five! Need an easy alternative to owning rentals? Arbitrage is not only a great way to test the waters before buying properties, but it’s also a profitable strategy in its own right! In this episode, you’ll learn about the pros and cons of arbitrage, the systems and processes you’ll need to automate your business, and the best way to find new units! In This Episode We Cover: How to get cash flow from real estate without owning rental properties The strategy Keron uses to get a 100% cash-on-cash return The pros and cons of the rental arbitrage model System and processes you NEED to scale your business How to convince a landlord to allow rental arbitrage Leveraging your network to acquire MORE units And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Airbnb Rental Arbitrage: How to Make Money Without Owning Property Building a 150-Unit “Lease Arbitrage” Empire and the STR Furnishing Playbook Tools to Analyze Short-Term Rentals: BiggerPockets Airbnb & Short-Term Rental Calculator AirDNA Rabbu Connect with Keron: Keron's BiggerPockets Profile Keron's Facebook Keron's Instagram: @keronbrycerei Keron's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-370 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Reaching financial freedom in ten years or less with a small real estate portfolio!? While it might seem like a lofty goal, it’s very doable when you maximize your cash flow and play the long game. If “the lazy investor” can do it, so can YOU! Welcome back to the Real Estate Rookie podcast! When Dion McNeeley reached early retirement in 2022, he was raking in $200,000 per year from just sixteen units. Now, he’s using his newfound financial independence, knowledge, and resources to take a few more risks with his real estate investments. For his latest deal, he used the buy, rehab, rent, refinance, repeat (BRRRR) method on a house hack that generates enough cash flow to fund his travels! It all sounds very impressive, but how on earth did he get there? In this episode, Dion shares some of the secrets and strategies that allowed him to go from $89,000 in debt to financially free within a decade. He talks about building a buy box that features a blend of market data and home attributes, as well as finding deals on the multiple listing service (MLS) that other buyers overlook. He even discusses an ingenious strategy that will have your tenants ASKING you to raise rents! In This Episode We Cover: How to reach financial freedom in ten years or less with real estate Finding deals on the multiple listing service (MLS) that other investors miss Why you should stick with ONE investing strategy for the long haul The MOST important metric to include in your buy box How to get tenants to ASK you to raise rents with the “binder strategy” Why house hacking is the easiest way to start real estate investing And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion McNeeley How to Use Public Data to Find Real Estate Deals That 99% of Investors Miss Try the "Binder Strategy" Yourself Grab Your Copy of “One Rental at a Time” Connect with Dion: Dion's BiggerPockets Profile Dion's Facebook Dion's Instagram Dion's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-369 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to pay less money to the IRS in 2024? We’ve got the real estate tax strategies to help you do just that. And get this—you don’t need a large real estate portfolio to benefit from these money-saving tax tips! Welcome back to the Real Estate Rookie podcast! Today, real estate tax strategist Natalie Kolodij lends her expertise on the many tax benefits of real estate investing. Natalie is not only a certified public accountant (CPA) but also a fellow investor, and in this episode, she shares the unique real estate investing strategy she used to get started—flipping mobile homes! She also dives into the different types of partnerships and their tax advantages, as well as common house hacking misconceptions that cause new investors to miss out on important deductions. Need to sell a property? You’ll want to know about the exclusion that allows you to avoid capital gains tax. Natalie even gets into the short-term rental “loophole” that investors can use to reduce their taxable income each year. Of course, you don’t need to master the tax code before buying your first property—you just need to find a tax professional who specializes in real estate. So, Natalie offers three questions you MUST ask before hiring one! In This Episode We Cover: Must-know 2024 tax strategies for the small rookie investor Crucial real estate questions to ask a tax professional before hiring them How to plan and file taxes for different types of partnerships Common house hacking misconceptions that cost investors thousands of dollars The short-term rental “loophole” that allows you to reduce your taxable income How to dodge capital gains tax when selling your investment property The most common tax mistakes that new investors make (and how to avoid them!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Hear Natalie on the “BiggerPockets Money” Podcast What You Need to Do NOW to Pay Fewer Taxes in 2024 How to (Legally) Avoid Taxes by Investing in Real Estate Seeing Greene: CPAs Answer YOUR Top Investing and Tax Questions The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of Connect with Natalie: Natalie's BiggerPockets Profile Natalie's Facebook Natalie's LinkedIn Natalie's Instagram Natalie's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-368 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Commercial real estate investing might seem intimidating, but in many cases, this kind of rental property is even easier to buy than a single-family home. After two failed attempts, our own Tony Robinson unlocked the blueprint for buying commercial properties as a beginner! Welcome back to the Real Estate Rookie podcast! Recently, Tony took down his very first commercial deal—a thirteen-unit property he plans to transform into a hotel with self-check-in convenience. But this huge triumph didn’t come without a few costly mistakes. Before landing his “golden goose,” Tony missed out on two properties and lost thousands of dollars in the process. By his third attempt, however, he had cracked the code! If you want to scale your real estate portfolio and become a full-time investor, buying a commercial property might be your best bet. In this episode, Tony dives into the numbers and projections for his new hotel, as well as the biggest takeaways from his experience. He also shares how to find a market for a niche property, how to raise private capital for a large deal, and why it’s easier to approach an owner about seller financing on a commercial deal! In This Episode We Cover: How to buy commercial real estate as a novice investor Finding the right market for your niche property How to raise capital to take down even bigger real estate deals The five factors that determine if you can compete in a market Why you NEED to develop your network before buying commercial real estate When to hire your first employee for your real estate business And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Real Estate Partnerships” Why Self-Storage Beats Rental Properties Commercial Real Estate Fundamentals for Successful Investors Scaling from Single Family to Commercial Real Estate Find Your Next Commercial Property: Crexi LoopNet BizBuySell Check the full show notes here: https://www.biggerpockets.com/blog/rookie-367 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Choosing to wholesale real estate might be the EASIEST way to kick-start your real estate investing journey. You don’t need a ton of money and you don’t need to take on debt. And with a couple of deals under your belt, you’ll have the money to buy your own investment properties! Welcome back to the Real Estate Rookie podcast! Today, Amina Stevens is an investor, wholesaler, and the host of First-Time Buyer's Club on the Oprah Winfrey Network. But only a few years ago, Amina was a high-school educator who was teaching kids to “follow their dreams” without following any of her own. So, she left her “safe” career, got her license, and found a real estate mentor who showed her the ropes of wholesaling land. Want to invest in real estate but feel you don’t have the money or connections to start? Wholesaling could be the perfect strategy to get your foot in the door! In this episode, Amina shares how she chose her market, found sellers and buyers, and built a six-figure real estate business from the ground up—everything you could need to get started today! In This Episode We Cover: The “easiest” way to get into real estate with NO money How Amina built a six-figure business in only a few months Why you NEED a mentor to help fast-track your investing journey How to get money to buy investment properties by wholesaling land The systems and processes YOU need for a successful real estate business How to find the perfect market for your real estate investing strategy And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast A 60-Day Action Guide to Wholesaling Your First Property Real Estate Wholesaling: Profit Parasites or Property Investors’ Best Friend? PropStream LandGlide LandVision Connect with Amina “First-Time Buyer’s Club” Amina's Instagram: @homesbyamina Amina's Twitter: @homesbyamina Check the full show notes here: https://www.biggerpockets.com/blog/rookie-366 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
You could spend HOURS breaking down deals for cash flow, cash-on-cash return, return on investment, price-to-rent ratio, and countless other metrics. What do these terms mean, and which one is most important when analyzing rental properties? Today, we’ll show you how to streamline this process so you can check out MORE deals! In this Rookie Reply, you’ll learn how to analyze deals the right way, find off-market properties without spending a dime, and make offers on properties you haven’t seen. We also get into house hacking and why covering your mortgage payment isn’t necessary for a great deal. Finally, stick around until the end for the inside scoop on our hosts’ most recent ventures. Tony spills the beans on his first commercial property, while Ashley shares about the “pocket listing” she landed in the city! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: The most important metrics to look at when analyzing a deal How to find off-market real estate deals for FREE How to make an offer on a property you haven’t seen Why you should house hack (even if it doesn’t cover your mortgage!) Tony’s UNIQUE commercial real estate investing experience and Ashley’s “pocket listing” gem And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Brush Up on Your Real Estate Terms The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties Ep #362: Rookie Reply: HELOCs Explained and How to Invest with BAD Credit Tools to Help You Analyze Deals: PropStream Invelo Privy LandGlide onX Hunt Book Mentioned in the Show The House Hacking Strategy by Craig Curelop Real Estate by the Numbers by J Scott & Dave Meyer Check the full show notes here: https://www.biggerpockets.com/blog/rookie-365 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Is the fear of “what if?” stopping you from investing in real estate? You could learn a thing or two from today’s guest. Despite a “nightmare” first deal involving every worst-case scenario imaginable, he still managed to come away with an enormous profit! Mitch Krotz had always wanted to buy a rental property, so when a great deal fell in his lap, it was a no-brainer! But then, seemingly everything that could go wrong did go wrong. Shortly after closing, Mitch was already evicting tenants and wading through trash in his heavily damaged unit. But that’s not all. Police showed up and discovered a grow house in the basement right before Mitch’s ex-tenants broke into the property. To cap things off, Mitch was hospitalized for meningitis during his DIY home renovations. While he had every reason to give up on real estate investing, his persistence paid off to the tune of $115,000 in profit. If Mitch can do it, you can too! Stay tuned as he shares some of the most valuable lessons learned during his painful first deal. For one, if you’re going to take real estate seriously, you need to manage it like a real business. Invest in systems, organization, bookkeeping, and other tools that will set you up for success! In This Episode We Cover: Mitch’s biggest lessons learned from a painful first real estate deal How to build an all-star team to help run your real estate business When to DIY home improvement projects (and when to outsource them instead!) Dealing with troublesome tenants and navigating the eviction process Why you NEED to allow room for error in your margins The “secret” up-and-coming market Mitch has identified for short-term rentals And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals How I’m HELOCing My Way to Wealth Should I Fix My Credit Before Attempting to Invest in Real Estate? Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls 3 Steps to Start Investing in Real Estate + 2024 Mortgage Rate Predictions Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property Books Mentioned in the Show The Small and Mighty Real Estate Investor by Chad Carson Connect with Mitch Mitch's BiggerPockets Profile Mitch's Instagram: @krotzrocket11 Check the full show notes here: https://www.biggerpockets.com/blog/rookie-364 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to know how to start an Airbnb business? If you find the right deal and build an all-star team, you could squeeze a TON of cash flow from just one rental. And we’ve got the perfect guest to show you the ropes! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by former ninety-day mentee Melanie Wilmesher. Since we last spoke with Melanie, she has added a short-term rental property to her portfolio—this time, in an entirely different market! In this episode, she shares her biggest struggles and lessons learned from investing out-of-state. While one destructive house party left her with $4,000 in damages and nearly derailed her Airbnb investing strategy, Melanie credits her trusted team for getting the property back up and running in no time. While short-term rentals can be wildly profitable, running them is not always a breeze. Melanie shares the highs and lows of her journey so that you can know what to expect in any situation! You’ll learn how to deal with bad reviews, find a great property manager for your rental, create the best possible guest experience, and more! In This Episode We Cover: How to start an Airbnb business that gives you more cash flow in 2024 Melanie’s biggest lessons learned from owning short-term rentals How to deal with bad reviews you receive on Airbnb Creating the ideal guest experience that gets you MORE bookings Critical steps to take before buying a property “sight unseen” Building your dream short-term rental team through networking and referrals Why you NEED a top-notch property manager for out-of-state investing And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals How I’m HELOCing My Way to Wealth Should I Fix My Credit Before Attempting to Invest in Real Estate? Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls 3 Steps to Start Investing in Real Estate + 2024 Mortgage Rate Predictions Books Mentioned in the Show Real Estate Partnerships by Ashley Kehr & Tony Robinson The Intention Journal by Brandon Turner Short-Term Rental, Long-Term Wealth by Avery Carl Long-Distance Real Estate Investing by David Greene Start with Strategy by Dave Meyer Connect with Melanie Melanie's BiggerPockets Profile Melanie's Instagram Melanie's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-363 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Getting a home equity line of credit (HELOC) is one of the easiest ways to leverage your home equity and buy your first rental property. But what is the best way to use one? Are there any drawbacks? After today’s deep dive into HELOCs, you’ll have all the answers! Welcome back to another Rookie Reply! In this episode, we’re not only looking at HELOCs but also comparing them to “evergreen loans” so that you can choose the right financing tool for you. Is bad credit preventing you from investing in real estate? You might have to get creative! Ashley and Tony offer several ways to invest while you’re fixing that credit score. Stick around until the end for the best value-adding home renovation projects that will help you raise rents! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to use a home equity line of credit to buy your first rental property How to buy an investment property before fixing your credit The BEST ways to invest in real estate with a small amount of cash HELOCs vs. evergreen loans (and which one is right for YOU!) Value-adding home renovation projects for your rental properties And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals How I’m HELOCing My Way to Wealth Should I Fix My Credit Before Attempting to Invest in Real Estate? Check the full show notes here: https://www.biggerpockets.com/blog/rookie-362 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to know how to buy your first rental property without money getting in the way? For years, Mike wanted to invest in real estate, but banks wouldn’t give him a loan. If you’re having the same issue, we’re here to help! Welcome back to the Real Estate Rookie podcast! After multiple deals fell through during the financing stage, Mike Previtera realized he needed to work on his finances. So, he and his wife trimmed the fat from their budget and aggressively paid off bad debts. Mike even made changes to his lawnmowing business—raising rates and working extra hours to increase his income. Within one year, all of the hard work had paid off, as Mike was able to get financing for not only his first deal but also the deals that followed! If your financial situation is holding you back from buying real estate, this episode is for you! Mike recalls the exact steps he took to get his finances in order. He also shares how he grew his network, which allowed him to find more deals and financing opportunities. Finally, he talks about some of his biggest investing mistakes—mistakes that YOU can avoid! In This Episode We Cover: How to buy your first rental property when you can’t get a loan Finding deals, connections, and mentors through the power of networking Why hustling for a season could help kickstart your real estate journey How to lay your financial foundation before investing in real estate The BEST strategies for finding deals as a new investor The most common real estate investing pitfalls (and how to AVOID them!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast ‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects Rookie Reply: How to Get 100% Financing for ALL of Your Real Estate Deals Rookie Reply: Networking Tips That’ll Increase Your Net Worth Connect with Mike: Mike's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-361 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
If there’s anyone who knows how to get rid of squatters, it’s Leka Devatha. Right before MCing the biggest real estate event of the year, BPCon 2023, Leka got a phone call from her property manager with the words no investor EVER wants to hear, “there are trespassers in the property.” What followed was months of legal back and forth, media attention, and some secret agent work from Leka to get these so-called “tenants” OUT of her property. In the end, Leka lost tens of thousands of dollars, but today, she’s going to share how to avoid the same fate. Squatters know their rights and how long it takes landlords to kick them out of a property, so they come prepared. With everything from fake leases to moving over utilities, claiming the legitimate owners are liars, and doing ANYTHING they can to prove they belong in the house, modern-day squatters could live in your home for years unless you follow the same steps as Leka. In today’s episode, Leka shares how she got two trespassers out of her house without going through the long, costly, and often unsuccessful eviction process, how she beat the squatters at their own game, and what YOU should do to stop ANY squatter from even THINKING about stealing from you. In This Episode We Cover: How to get squatters out of your house ASAP without waiting on the eviction process The one type of rental property owner squatters LOVE to target Hiring attorneys and why your legal team MUST be ready to make moves quickly Canceling utilities and how to get this done as soon as a squatter takes over your property “Squatters' rights” and how to beat squatters at their own game Leka’s BIGGEST pieces of advice to avoid squatters and trespassers in the future And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount Sign Up for the Real Estate Investing Virtual Summit Creative Ways to Get Rid of Squatters: What’s Legal & What’s Not What Landlords Need to Know About Squatter’s Rights Watch Leka’s News Story Minut Noise Monitoring Connect with Leka: Leka's BiggerPockets Profile Leka's Instagram Leka's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-360 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Could ONE multifamily rental property change your life? Just five years ago, Jaryn Pierson was sleeping on his grandma’s couch, working a minimum-wage job, and getting sober. But when the right deal came along, it altered his financial future! Welcome back to the Real Estate Rookie podcast! Jaryn discovered real estate during the lowest point of his life. When friends and family warned him not to invest, he bought a duplex in his hometown. Today, that property nets $30,000 in cash flow each year! Since then, he has only added to his portfolio—buying an eight-unit apartment building through a RARE seller financing opportunity and launching his own property management company. His old minimum-wage job? He’s still got it, only he has been promoted to general manager of multiple locations! In this episode, Jaryn shares some of the biggest lessons he has learned during his real estate journey—from becoming a better Airbnb host to raising rents on long-term tenants. You’ll also learn how to find properties to manage, as well as why you should focus on stabilizing your portfolio rather than scaling it! In This Episode We Cover: Jaryn’s multifamily rental property that brings in $30,000 per pear How to raise rents on existing tenants (and keep them happy!) Avoiding the banks to get a GREAT deal with seller financing Jaryn’s biggest lessons learned as an Airbnb host How to find clients for your property management company When to focus on stabilizing your portfolio instead of scaling your business And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount Sign Up for the Real Estate Investing Virtual Summit Rookie Reply: Seller Financing & How to Buy MORE Real Estate on YOUR Terms Raising Rent: How Much Should I Increase Rent Each Year? Books Mentioned in This Episode The Multifamily Millionaire, Volume 1 by Brandon Turner & Bryan Murray The Multifamily Millionaire, Volume 2 by Brandon Turner & Bryan Murray Buy Back Your Time by Dan Martell Connect with Jaryn: Jaryn's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-359 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Out-of-state investing is a great option if you’re looking to venture beyond your backyard, but finding the perfect market can be a challenge. Not to worry—our hosts have been in your shoes before and are here to help you navigate this big decision! Welcome back to another Rookie Reply! In this episode, Tony and Ashley offer their best tips, tricks, and tools for choosing a real estate market. They also get into the nitty-gritty of the mortgage pre-approval process. What is a pre-approval, when should you get one, and does it affect your credit score? Stay tuned to find out! Next, they discuss holding costs, including some of the different ways to fund these expenses. Finally, they talk about security cameras, and Tony even shares two instances when they helped save the day on his properties! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: Finding the perfect market for investing out-of-state When to start the pre-approval process for a new home loan How to pay for holding costs (and which lenders will fund them!) How to land the IDEAL loan for your real estate niche When to install security cameras across your rental properties And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount Sign Up for the Real Estate Investing Virtual Summit Your Step-by-Step Guide to Buying Out-of-State Investment Properties Looking to Invest Out-of-State? Here’s How to Pick and Analyze a City Tools to Help You Find Your Market: NeighborhoodScout BrightInvestor Check the full show notes here: https://www.biggerpockets.com/blog/rookie-358 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
There are ebbs and flows in every real estate investing journey, but not every home renovation project results in a six-figure loss! Fortunately, today’s guests learned one very expensive lesson so that YOU (hopefully) don’t have to! Welcome back to the Real Estate Rookie podcast! Justin Noe and Nate Cherubini are real estate investing partners with top-notch problem-solving skills. But not even that could stop them from making a MAJOR blunder on one of their real estate deals—a mistake that cost them a whopping $120,000. After dealing with termites, zoning issues, and bad contractors, this dynamic duo had every reason to give up on real estate—but didn’t! In this episode, Justin and Nate stress the importance of keeping your contractors in check and fostering healthy relationships in real estate. They also talk about why you should build your buy box early on in your investing journey and how to get your family on board with your real estate investing goals! In This Episode We Cover: How this duo bounced back after a $120K failed home renovation project Choosing your buy box early on (and avoiding “shiny object syndrome”) Why you NEED a good “ground game” when investing out-of-state The BEST way to use private money or hard money on a house flip Finding a complementary real estate investing partner How to get your family on board with real estate investing And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount Sign Up for the Real Estate Investing Virtual Summit How Tony Lost $100K on ONE Real Estate Deal (AVOID These Critical Mistakes) Making $71K on ONE Deal After 5 Failed House Flips and Six-Figure Debt Books Mentioned in the Show Real Estate Partnerships by Ashley Kehr & Tony Robinson Vivid Vision by Cameron Herold Connect with Justin: Justin's BiggerPockets Profile Justin's Facebook Justin's Instagram Justin's LinkedIn Connect with Nate: Nate's BiggerPockets Profile Nate's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-357 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
If you want to know how to start investing in real estate, you’re in the right place. Today, we’re going to detail the three often-overlooked beginner steps that’ll allow you to build a real estate portfolio, reach financial freedom, and have more time and money than ever before. And no, these steps are NOT the usual “look up properties online, talk to an agent, get pre-approved” advice. Instead, we’re giving you the time-tested expert guidance that leads you to REAL wealth, not just a handful of headache properties. So, who has the foolproof plan for real estate success? Dave Meyer, BiggerPockets VP of Data and Analytics, host of the On the Market podcast, and author of Start with Strategy. In today’s episode, Dave outlines exactly how he built a life he loves, living abroad with free time to travel, making more than enough to support his adventurous lifestyle, all while spending less than an hour a day on his real estate portfolio. If you’re ready to buy your first or next rental, experience lasting financial freedom, and hear Dave’s 2024 mortgage rate predictions, stick around! Ready to start investing in 2024? Pick up Start with Strategy and use code “STRATEGY356” at checkout to get 10% off! In This Episode We Cover: The three beginner steps to start investing in real estate in 2024 Creating your “vision” of what you want financial freedom to look like for you Why you should NOT quit your job (yet) to go full-time in real estate The fastest way to boost your income or get a substantial raise at work Dave’s 2024 mortgage rate predictions and how low rates could go this year And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount Sign Up for the Real Estate Investing Virtual Summit Book Mentioned in the Show Real Estate Partnerships by Ashley Kehr & Tony Robinson Connect with Dave: Dave's BiggerPockets Profile Dave's Instagram Catch Dave on the “On the Market” Check the full show notes here: https://www.biggerpockets.com/blog/rookie-356 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Can’t fund your next rental property? Never let a little money get in the way of a great deal! When today’s guest didn’t have the cash to buy the property of her dreams, she negotiated a MASSIVE discount and used creative financing to get it across the finish line. Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Multifamily Bootcamp graduate Dayna Hicks, a foster parent and investor with a HUGE heart for the less fortunate. After reading Rich Dad Poor Dad and discovering BiggerPockets, Dayna realized that investing in real estate would give her something to pass along to her (many) children. It took her very little time to get started, buying three multifamily properties as a rookie! In this episode, Dayna shares how she secured her latest deal—a thirteen-unit transitional house designed to help young adults get back on their feet. Dayna was able to negotiate the purchase price down by a whopping $180,000 simply by using her newfound real estate knowledge to her advantage. Now, the property brings in $25,000 per MONTH! In This Episode We Cover: How Dayna negotiated $180K off a seller’s asking price Using creative finance to fund a unique rental property The MANY advantages of investing in multifamily real estate Leveraging your primary residence to fund MORE deals Creative ways to raise rent on a good tenant (and keep them happy!) Life-saving tips for managing a home renovation project And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Making $90K/Year with Just ONE Rental by Combining Compassion with Cash Flow How to Negotiate House Prices Books Mentioned in the Show Rich Dad Poor Dad by Robert Kiyosaki One Rental at a Time by Michael Zuber Connect with Dayna: Dayna's Email hicks.dayna@gmail.com itsyourturnnow2024@gmail.com Check the full show notes here: https://www.biggerpockets.com/blog/rookie-355 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Off-market real estate deals allow you to avoid the multiple listings service (MLS) and find RARE properties often at a sizable discount, but many rookie investors are hesitant to send mail or pick up the phone. If that sounds like YOU, we have the tips, tools, and templates to make your life easier! Welcome back to the Real Estate Rookie podcast! Today’s special guest is Brett Long, a rookie investor who managed to build a valuable portfolio in just three years. At a time when all of his friends and family members told him to avoid real estate investing, Brett went all-in—flipping houses for a HUGE profit. Little did he know that the money he would bring in from this strategy would help him fund buy and hold properties as well. In this episode, Brett talks about his experience driving for dollars, as well as the “personalized pitch” he included in his direct mail campaigns to generate a TON of interest from sellers. Of course, once the calls started coming in, he still had some convincing to do. Brett provides the template for these productive phone conversations and shares how he was able to turn hesitant homeowners into willing sellers! In This Episode We Cover: Finding a TON of off-market properties by driving for dollars Building the PERFECT buy box for your investing needs How to beat the competition by investing in “the path of progress” Using the profits from house flips to fund buy and hold rental properties How to craft a high-converting mailer to send to sellers Essential tips and tricks for talking to sellers over the phone Why NOW is the best time to start flipping houses And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy Finance Friday: Self-Employed Income and Short-Term Rental Investing Find Property Information Easily with PropStream The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals Find the Real Estate You Hate (So You Can Buy the Real Estate You Love) How to Get a Better Price on That Off-Market Property Cashing In On Overlooked Off-Market Deals & Overcoming Analysis Paralysis Connect with Brett: Brett's BiggerPockets Podcast Brett's Instagram Brett's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-354 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Making $71,000 per year from ONE rental property is a huge feat for any real estate investor, but it’s even more impressive when you’ve had to work your way from the very bottom. Although today’s guest had to overcome several challenges on his investing journey, his resiliency paid off in a BIG way! Only a few years ago, Matt McDermott’s life was unraveling. After hitting rock bottom and going to rehab, Matt realized that he needed to make some serious life changes. Step one was getting sober. Step two was financial freedom through real estate. After an argument in the kitchen one evening, Matt and his wife reached the conclusion that they should buy their first rental property. Since then, they have built a multimillion-dollar painting business and a cash-flowing real estate portfolio! In this rags-to-riches episode, Matt shares how he worked around several roadblocks to make his real estate dream a reality. He also offers crucial tips for getting your spouse on board with real estate, as well as how to get your family involved in DIY home renovation projects. Finally, if you’re self-employed, Matt talks about creative ways to get financing for your deals—such as using bonus depreciation to boost your buying power! In This Episode We Cover: Making $71,000/year from ONE property with the short-term rental strategy How to get your spouse on board with your real estate dream How to get financing for your deal when the banks tell you “no” Increasing your buying power and reducing your tax burden with bonus depreciation Turning DIY home renovation projects into more quality time with family Leveraging equity in your portfolio to buy MORE real estate And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy Finance Friday: Self-Employed Income and Short-Term Rental Investing Find Property Information Easily with PropStream Connect with Matt: Matt's Instagram Matt's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-353 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
We got to talk a WHOLE lot of real estate in 2023. With topics ranging from partnerships to home renovation hacks, we covered a ton of ground this year and hope the information helped YOU on your real estate investing journey! Today, we’re taking a trip down memory lane—reflecting on all of the amazing guests and conversations we had on the show over the last twelve months. For this very special episode, we’ve handpicked a few of our favorite moments to share with you. Whether you’re looking to find your first deal or already own several rental properties, we hope this compilation gives you the inspiration and motivation you need to start the new year off strong! Tune in to learn everything from getting your spouse on board with real estate to replacing your W2 income with rentals. You’ll find out why house hacking is perhaps the best entry point to real estate investing and why rental arbitrage is a cheat code for easy cash flow. You’ll even learn about the “open house” hack that one rookie investor uses to estimate rehab costs, as well as some clever ways to get more money out of your current portfolio! Here is the link to the Spotify playlist for the full episodes clipped for this show! In This Episode We Cover: The best ways to pitch seller financing (and get your offer accepted!) Pitfalls to avoid when taking on more real estate debt Scaling your real estate business faster with UNIQUE loan products How to negotiate pricing with contractors for your home renovations Why you MUST build your own scope of work when getting contractor bids And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Why Self-Storage Beats Rental Properties How to Use Public Data to Find Real Estate Deals That 99% of Investors Miss w/Ariel Herrera From Prison to Real Estate Investor Making $71K/Year from ONE Rental w/Matt McDermott How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame How to Buy a Rental Property with NO Money OR Credit The Rookie’s Step-by-Step Guide to Home Renovation Projects The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals Books Mentioned in the Show The Book on Estimating Rehab Costs by J Scott The Book on Flipping Houses by J Scott Check the full show notes here: https://www.biggerpockets.com/blog/rookie-352 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
We got to talk a WHOLE lot of real estate in 2023. With topics ranging from partnerships to home renovation hacks, we covered a ton of ground this year and hope the information helped YOU on your real estate investing journey! Today, we’re taking a trip down memory lane—reflecting on all of the amazing guests and conversations we had on the show over the last twelve months. For this very special episode, we’ve handpicked a few of our favorite moments to share with you. Whether you’re looking to find your first deal or already own several rental properties, we hope this compilation gives you the inspiration and motivation you need to start the new year off strong! Tune in to learn everything from getting your spouse on board with real estate to replacing your W2 income with rentals. You’ll find out why house hacking is perhaps the best entry point to real estate investing and why rental arbitrage is a cheat code for easy cash flow. You’ll even learn about the “open house” hack that one rookie investor uses to estimate rehab costs, as well as some clever ways to get more money out of your current portfolio! Here is the link to the Spotify playlist for the full episodes clipped for this show! In This Episode We Cover: The BEST real estate tips, tricks, hacks, and advice from 2023 How to get your spouse on board with real estate investing Building your dream lifestyle through the power of house hacking How to replace your W2 income with rental properties The “open house” hack for estimating rehab costs Squeezing more money from your current portfolio How to attract the right investing partner (hint: find the deal first!) How to get EASY cash flow through rental arbitrage Scoring fully-funded vacations by using business credit cards How to complete home renovation projects remotely And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast How to “Layer” Legal Protection So Lawsuits Won’t Touch Your Wealth Rookie Reply: Do You NEED an LLC for Rental Property? 6 Rental Properties in Just 15 Months (While Working 3 Jobs!) Rookie to Real Estate Investor in 90 Days: Meet the Mentees The Perfect First Rental Property That Makes $2,500 Per Month! From $40K Debt to 4 Rental Units (Using ZERO of His Own Money!) $6,500/Month from ONE Rental (While Traveling the World!) When Cash Flow ISN’T Crucial and 3 Creative Financing Tips to Try $11,000/Month with a VERY Unique Rental Property Cash-Flowing While in a Coma!? All Thanks to Self-Storage Escaping the “Grind” with Van Life and 3 Rental Properties 7 Real Estate Deals in 2 Years (4 Rentals with MEGA Cash Flow!) Making $100K in 18 Months w/ “Misfit” Medium-Term Rental Properties Real Estate “Travel Hacks” We Use to Score FREE Vacations The Rookie Blueprint for Money-Making Home Renovation Projects Check the full show notes here: https://www.biggerpockets.com/blog/rookie-351 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to know how to start an LLC for real estate? Whether you’re looking to form investing partnerships or avoid being sued, creating an LLC is one way to protect your personal name and assets. With that said, there are several factors to consider before setting one up! Welcome back to another Rookie Reply! Each week, our inbox is flooded with questions about LLCs, so we’re dedicating an entire episode to the topic! Tune in as Ashley and Tony share their own experiences with LLCs, their benefits, and issues you might encounter. You’ll learn about the requirements for LLCs, when to put multiple properties under one LLC, how to apply for bank financing, and how to take advantage of business credit cards! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to start an LLC for your real estate business Requirements you MUST meet to keep your LLC in “good standing” How to apply for bank financing as an LLC (and prevent a deal from falling through!) The hidden mortgage clause you NEED to know about Alternative asset protection strategies to consider for your real estate business The biggest differences between an LLC and umbrella insurance And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast How to “Layer” Legal Protection So Lawsuits Won’t Touch Your Wealth Rookie Reply: Do You NEED an LLC for Rental Property? Get Tips on Maximizing Business Credit Card Points: The Points Guy Aunt Kara Book Mentioned in the Show: Real Estate Partnerships by Ashley Kehr & Tony Robinson Check the full show notes here: https://www.biggerpockets.com/blog/rookie-350 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you lean into data when analyzing real estate deals? In a competitive market, ANY kind of advantage goes a long way towards helping you land better deals. And guess what? Harnessing the power of data is much easier than you think. Today’s guest delivers a handful of helpful tips, tricks, and tools that all rookie investors can use! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Ariel Herrera—data scientist by day and real estate investor by night. Five years ago, Ariel decided that real estate was going to be her path to financial freedom. Like any eager investor, she devoured as many articles, podcasts, videos, and books as she could get her hands on at the time. Once she realized that she could combine her love for data science with real estate, there was no looking back! In this episode, Ariel shares about the competitive edge you can gain by being a data-driven real estate investor. She recommends several tools and systems, all of which are easy to implement and require ZERO coding. Additionally, you’ll learn how to choose your market, invest out-of-state, and save a ton of time with a few deal analysis shortcuts! In This Episode We Cover: How to find better real estate deals through the power of data science Tools and systems you can use to analyze deals (WITHOUT any coding!) Leveraging the equity in your portfolio to purchase MORE properties Creating consistent cash flow with the house hacking strategy How to find and purchase properties in other states (and countries!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties Tools Mentioned in This Episode: ChatGPT Apify Google Bard Browse AI Zapier Redfin Books Mentioned in the Show: Long-Distance Real Estate Investing by David Greene Connect with Ariel: Ariel's BiggerPockets Profile Ariel's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-349 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Ready to grow your real estate business in 2024? With another year in the rearview, it’s time to start dreaming of what your business could become in the next twelve months. Whatever success looks like to you, it starts with careful planning! Welcome back to the Real Estate Rookie podcast! Today, Ashley and Tony are taking some time to reflect on the past year. As you’d imagine, there have been all kinds of challenges faced, mistakes made, and lessons learned. But there have been plenty of HUGE wins, too! Tony talks about how he spent much of 2023 ending a partnership and restructuring his entire business. Meanwhile, Ashley shares how she launched her own property management company and implemented new systems to make her life easier! Whether you’re planning to buy your first rental property in 2024 or setting new goals for your business, this episode is loaded with tips to help you take the next step in your real estate journey. You’ll learn how to create an organizational chart, hire your first employee, finetune your business’s standard operating procedures (SOPs), and more! In This Episode We Cover: Setting goals and how to take your real estate business to the next level in 2024 How Tony ended a long-term partnership and rebuilt his entire business How Ashley launched her very own property management company Why you NEED an organizational chart for your real estate business How to find, hire, and onboard a virtual assistant for your business Systems, processes, and tools to help you manage your entire team And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast How to Work LESS and Earn MORE by Putting “Profit First” in Real Estate How to Build Effective Systems in Your Real Estate Business Books Mentioned in the Show: Real Estate Partnerships by Ashley Kehr & Tony Robinson The E-Myth Revisited by Michael Gerber Clockwork by Mike Michalowicz Traction by Gino Wickman Buy Back Your Time by Dan Martell Check the full show notes here: https://www.biggerpockets.com/blog/rookie-348 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Is it your dream to quit your W2 job and pursue real estate investing full-time? Unfortunately, the transition from working for someone else to becoming your own boss doesn’t happen overnight. As you’re about to learn from today’s guest, there are several factors you MUST consider before handing in your two-week notice! Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with Matt Marcelissen, an HR consultant by day and investor by night. In only a few years, Matt has built a real estate portfolio of four properties and eleven doors. Now, he finds himself at a crossroads. Should he quit his corporate job to focus on real estate? On one hand, Matt’s six-figure salary provides a sense of financial security and allows him to save money for more real estate. On the other hand, Matt commits most of his time and energy to his W2 job during the day—leaving him too mentally and physically exhausted to work on his real estate business. In this episode, Ashley and Tony offer some invaluable advice to not only Matt but also any rookie investor who might be considering a full-time career in real estate. Whether it’s sticking with your W2 job, dialing back to part-time, or creating multiple streams of income, there are all kinds of ways to make real estate work for you. Stay tuned to find the BEST option for you! In This Episode We Cover When to quit your W2 job to focus on your real estate business Reducing your monthly expenses to free up more money for real estate How to avoid lifestyle creep with a high-income W2 job Why you NEED to hire a virtual assistant for your real estate business Costly mistakes to avoid on home renovation projects Landing MORE deals by submitting backup offers on properties And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-347 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Multifamily real estate investing can be scary to a new investor. After all, buying more units requires more money, more resources, and a larger team. But today’s guest is here to show you that multifamily investing is not nearly as intimidating as it may seem and why NOW is the perfect time to get started! Welcome back to the Real Estate Rookie podcast! In this episode, Andrew Cushman delivers a masterclass in multifamily real estate. Andrew got his start flipping houses for profit, only to find that he was missing out on the consistent cash flow and long-term appreciation of buy and hold properties. So, he dived headfirst into the world of multifamily investing. Today, he shares how he landed his first multifamily deal—the good, the bad, and the ugly. If you’ve ever considered buying multifamily properties, Andrew explains why you should start now. He also offers some essential tips for investing in today’s market and provides a wealth of resources to help you define your perfect buy box. Finally, you’re going to need the right people around you to tackle multifamily real estate. Andrew shows you how to build your team and how to pitch a long-term buy and hold property to potential investors! In This Episode We Cover: Why NOW is the perfect time to start investing in multifamily real estate Three ways to fund your first multifamily deal (with other people’s money!) Multifamily deal analysis and tips for buying in today’s market The two CRITICAL deal analysis mistakes that investors make How to assemble a high-performing team for your multifamily business And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of David Greene’s Book, “Long-Distance Real Estate Investing” Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Deal w/ Andrew Cushman The 8 Steps That Will Stop You From Getting Burnt on Multifamily Deals w/ Andrew Cushman Why Self-Storage Beats Rental Properties w/ AJ Osborne Resources to Help You Build Your Buy Box: JCHS ESRI FEMA BLS Rich Blocks Poor Blocks Bright Investor Neighborhood Scout Connect with Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Vantage Point Acquisitions Check the full show notes here: https://www.biggerpockets.com/blog/rookie-346 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Taking down a $6.5 million real estate deal might seem like an unlikely feat for a rookie investor, but it’s not if you use other people’s money. When today’s guest had a large portfolio of multifamily properties fall into his lap, he exhausted all of his resources to bring it home—dodging multiple curveballs along the way! In this episode of the Real Estate Rookie podcast, we’re diving into the world of syndication with investor Andrew Freed. Real estate syndications can be a great way to build a real estate portfolio without using much of your own money, but this investing strategy also requires careful planning and coordination. The biggest challenge for most investors? Raising capital. And that was certainly the case for Andrew, who only managed to scrounge up the funds he needed during the eleventh hour. While you may not plan on tackling a multimillion-dollar syndication deal any time soon, there are several important lessons that every rookie investor can take away from Andrew’s latest deal. In this episode, you’ll learn how to find the BEST deals through local real estate meetups, how to raise a TON of capital by leveraging your own network, and how to bring a deal to potential investors! In This Episode We Cover: How to build a large real estate portfolio using other people’s money Finding RARE deals by attending your local real estate meetups Leveraging your network to raise capital for syndications The best ways to present a syndication deal to potential investors How to negotiate financing terms on a large commercial loan And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Real Estate Partnerships” 24 Units in 2 Years by Making Your Rentals Match the Market w/ Andrew Freed Use the BiggerPockets Glossary to Learn Key Real Estate Terms Learn More About Tony’s Latest Syndication Deal Get Your Syndication Questions Answered by SEC Attorney Bethany LaFlam Connect with Andrew: Andrew's BiggerPockets Profile Andrew's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-345 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
If you’re looking to build wealth through real estate or start your own business, there’s one crucial skill you may be overlooking—learning! The faster you can learn, the faster you can earn. So, how do you optimize your most powerful tool—the brain? Today, we’ve got one of the world’s most well-known brain experts on deck to help! Welcome back to the Real Estate Rookie podcast! In this episode, we’re picking the brain of Jim Kwik—a New York Times best-selling author and coach who has worked with the likes of Nike, Google, and other global brands over the last 30 years. After being dubbed “the boy with the broken brain” due to traumatic head injuries he sustained in early childhood, Jim developed strategies that allowed him to overcome these limiting beliefs and rise to the top of his class. Today, he teaches these same strategies to people who want to learn faster and improve their memory. This episode is brimming with transformative tips that anyone can apply. Jim offers a three-step formula you can use to STOP procrastinating and discusses the power of a positive peer group. He also talks about managing risk when stepping into the world of real estate investing and equips rookies with ways to combat high stress levels. Finally, he shares the “superpower” you need to fast-track your personal development! In This Episode We Cover: Optimizing your brain to build wealth through real estate faster The simple, three-step formula you need to STOP procrastinating The power of a positive peer group (and how to build your circle of influence) The “superpower” you need to accelerate your personal development How to manage risk and handle stress as a new real estate investor The “lies” that STOP you from succeeding in real estate (and how to combat them!) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast How Can You Achieve a Mindset for Investing Success? 7 Mindsets to Help You Grow Your Real Estate Business Discover Your “Brain Animal” Book Mentioned in the Show Limitless Expanded by Jim Kwik Connect with Jim: Jim's Instagram Jim's Podcast Jim's TikTok Jim's X/Twitter Check the full show notes here: https://www.biggerpockets.com/blog/rookie-344 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Need flexible funding for your deals? Private money could be the answer. Whether you’re looking to dodge the bank or want greater control over the terms of your deal, that’s exactly what this creative finance option can provide. Our hosts can vouch for it! Welcome back to the Real Estate Rookie podcast! Today, we’re taking a deep dive into private money—the creative finance solution that allows you to fund more deals without huge down payments or stellar credit. Tony and Ashley share how they discovered private money and why it’s their go-to financing option today. If you’re looking to borrow funds, our hosts will show you how to find private money lenders, how to structure your private loans to benefit both parties, and why this financing solution is the PERFECT stepping stone for a future investing partnership. In this episode, you’ll also learn about the three essential documents for all private money loans, as well as how to approach your lender about structuring a deal. But that’s not all—this masterclass is for the private money lenders, too! Tony and Ashley discuss ways to protect yourself in a deal and how to ensure that you get your money back. Finally, you’ll learn when not to lend private money! In This Episode We Cover: How to get 100% financing for your deals using private money The differences between traditional bank financing, hard money, and private money How to find a private money lender for your next real estate deal The three documents you NEED for any private money partnership The best ways to protect yourself when lending money Crucial tax advice for those using private money for their deals And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Private Capital Explained: The 4-Second Pitch to Unlock Unlimited Funds (Part 1) w/ Amy Mahjoory Private Money Explained: 5 Simple Ways to Find Private Money (Part 2) w/ Amy Mahjoory Private Money Explained Part 3: The “Credibility Pieces” Lenders Love to See w/ Amy Mahjoory & Josiah Hein Private Money Explained Part 4: Rates, Returns, and Protecting Investors w/ Amy Mahjoory How to Buy a Rental Property with NO Money OR Credit w/ Pace Morby Making $71K on ONE DEAL After 5 Failed House Flips and Six-Figure Debt w/ JP Desmet Generate Your Own Loan Amortization Schedule: Bankrate EZ Financial Calculators App Books Mentioned in the Show Real Estate Partnerships by Ashley Kehr & Tony Robinson Check the full show notes here: https://www.biggerpockets.com/blog/rookie-342 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Saving for your first rental property can take a while, but adding side hustle income could help you stockpile enough cash to buy much sooner. Today’s guest discovered the PERFECT side hustle to pair with his W2 income—allowing him to fast-track his savings and close on his first two investment properties in no time! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Dan McDonald, an investor who house hacks to help cover his mortgage in an expensive market. Dan’s goal? To reach financial freedom by the age of forty. And, with two newly renovated duplexes that should not only cash flow but also appreciate in value, he’s well on his way to achieving that lofty goal! If you don’t quite have enough cash to invest in real estate, don't worry—Dan, Ashley, and Tony are here to offer some timely advice on how to increase your income with side hustles. You’ll also learn how to get started with house hacking (and how to convince your spouse that it’s the right move). Stay tuned until the very end to hear Dan’s top house hacking tips that ALL rookies must know! In This Episode We Cover: The fast-cash side hustle that can help you buy your first rental How to get your spouse on board with real estate (and house hacking!) The “easiest” real estate investing strategy that ALL rookies should know Essential tips and tricks for first-time house hackers Appreciation versus cash flow (and which one YOU should target!) When to offer MORE than the asking price on a property And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties w/ Craig Curelop No Money for Real Estate? 2 Side Hustles You Can Use to Fund Your First Deal Making $8K/Month from 2 Doors and How to Get HUGE Cash Flow with Fewer Units Books Mentioned in the Show Real Estate Partnerships by Ashley Kehr & Tony Robinson The House Hacking Strategy by Craig Curelop Connect with Dan: Dan's BiggerPockets Profile Dan's Instagram Dan's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-341 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Self-storage investing saved AJ Osborne’s life. After sudden paralysis and being left in a coma, AJ was fired from his job. He couldn’t work, walk, breathe, or do anything without assistance. Strapped to a hospital bed, with only the ability to blink “yes” or “no” to the doctors, AJ didn’t have to worry about bills getting paid or whether his kids would have a happy Christmas—self-storage took care of his finances while he miraculously recovered. For this reason and many others, self-storage may be the best real estate investment on the planet. But you’ve probably never considered it or looked into buying a facility. For less money, self-storage facilities produce more cash flow, less headache, and significantly lower risk than rentals. Even better? There are no clogged toilets or broken refrigerators. Just four walls and a metal door—that’s the entire investment. In today’s show, you’ll be brought to the light side, seeing how self-storage, a traditionally unsexy asset class, beats rental properties in almost every way imaginable, plus how this asset was able to save AJ’s life and financial future. AJ even explains why now may be the BEST time to get into self-storage. In This Episode We Cover: AJ’s unbelievable story from paralysis to comatose to walking and making millions How to make progress in your life or business during times of severe physical or mental pain The “greatest thing” that ever happened to AJ that made him a success Why self-storage facilities beat rental properties in almost every way imaginable AJ’s self-storage playbook and how he finds the best facilities to buy Investing in 2023/2024 and why now may be the PERFECT time to buy a facility Why self-storage makes the perfect “recession-resistant” asset And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast 18 Deals in 2 Years AND a Full Time Job with Kevin Christianson How to Buy a Foreclosed Home: Guide for Finding Deals BEFORE You Buy: How to Know Your Market (and Property) Will Make It in 2023 Check Property Liens with PropStream BrightInvestor NeighborhoodScout Check the full show notes here: https://www.biggerpockets.com/blog/rookie-340 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to build your rental portfolio faster? Then the BRRRR method is about to become your best friend. BRRRR (buy, rehab, rent, refinance, repeat) allows you to take one investment property and turn it into MANY, all while using the same stack of cash you started with on the first property. This means you can “infinitely invest” with the same money over and over and over again! But how do you pull off a BRRRR in today’s tough housing market? We’ve got Sir BRRRR himself, David Greene, on the show to teach you what BRRRR is, how to find BRRRR deals, how to analyze your first BRRRR, and how to recycle your investment so you reach financial freedom in years, NOT decades. Whether you’re searching for your first BRRRR deal or rehabbing your fifth, you’ll want to hear David’s latest tips and tricks for all BRRRR investors. Don’t miss out! Unlock UNLIMITED usage of the BRRRR calculator, get lawyer-approved lease agreements for your state, and find financial freedom FASTER with BiggerPockets Pro! Click here to sign up and use code “REPEAT20” to get 20% off your annual membership AND a $2,000 value in bonuses! The BRRRR method explained and how to use it to infinitely invest How to get PAID to buy cash-flowing rental properties (seriously!) Using BRRRR in 2024 and whether or not it works in today’s market How to analyze a BRRRR deal from start to finish Whether BRRRR is the right strategy for you The pitfalls of BRRRR you MUST look out for when doing your first deal And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-339 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Finding an investment property in preforeclosure can feel like uncovering a diamond in the rough, as the seller may be more motivated to get a deal done faster and for less. However, there’s one crucial thing you should be aware of BEFORE you take action on your end. Hint: you could pay a few extra costs to score a RARE deal! Welcome back to another Rookie Reply! In this episode, Ashley and Tony talk about buying properties in preforeclosure—including when it makes sense to buy a property “subject to.” They also go over the most important data points to analyze when choosing your market, as well as how to avoid jumping the gun when listing a new property for rent. Finally, home renovation projects can be tricky when you’re an out-of-state investor. Our hosts share how they purchase materials, as well as their go-to investing hack that will save you a fortune! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: What you MUST know before buying a property in preforeclosure When it makes sense to buy a property subject to (and pay the extra costs!) Critical data points you MUST include in your market analysis How to buy materials for home renovation projects when investing out-of-state How to list your investment property for rent (and pitfalls to avoid!) The investing hack that will save you a TON of money on materials And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast 18 Deals in 2 Years AND a Full Time Job with Kevin Christianson How to Buy a Foreclosed Home: Guide for Finding Deals BEFORE You Buy: How to Know Your Market (and Property) Will Make It in 2023 Check Property Liens with PropStream BrightInvestor NeighborhoodScout Check the full show notes here: https://www.biggerpockets.com/blog/rookie-338 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Raking in twelve thousand dollars each month from only four rentals might seem like pie in the sky, but that’s the power of investing (and reinvesting!) in short-term rentals. Find the right market and property, and you can charge a premium for an unforgettable guest experience! Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with Zoey Berghoff, an investor who earns a significant amount of income from a small real estate portfolio. While other investors might use their profits to buy more properties, Zoey bucks conventional wisdom by reinvesting those profits back into her rentals—a move that has not only boosted her booking numbers but also allowed her to charge more for her unique stays. But that’s not all Zoey is doing to maximize her profits. By “land hacking,” she creates multiple income streams on one property while keeping her rental property expenses down. What does it take to succeed in the short-term rental space? Stick around and find out! In addition to maximizing Airbnb profits, Zoey talks about how to approach new builds—from assembling the right team for the job to getting your county on board. Finally, she highlights the importance of setting reasonable expectations for your Airbnb guests—even if it means narrowing your pool of potential guests! In This Episode We Cover: The power of reinvesting your profits back into your real estate portfolio Lowering your overhead costs through land hacking How to assemble the ideal team for your short-term rental build Getting your county to sign off on your new build or home renovation project How to analyze a unique rental property (when there are no comps!) Creating a unique guest experience that makes your rental stand out Things you MUST include in your short-term rental description And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast 10 Income Streams on 1 Property by “Land Hacking” w/ Andrew Kai Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/ Chad Carson $11,000/Month with One VERY Unique Rental Property w/ Garrett Brown Connect with Zoey: Zoey's Instagram Zoey's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-337 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
What is ARV in real estate? You’ve heard the term before but might not know what it means. ARV stands for after repair value, the value of a property AFTER you rehab, renovate, or upgrade it. While this metric may seem like something that only house flippers should care about, ARV is something that ANY rental property investor should pay close attention to because if you get it wrong, you could lose tens of thousands of dollars. In this Rookie Reply, we’ll show you how to estimate ARV and what common mistakes rookies make when calculating this crucial number. Then we answer how to write off repairs vs. CapEx (capital expenditures) on your taxes, and Ashley’s easy answer when you don’t know the difference between the two! Plus, why you should ALWAYS check your breakers when something goes wrong. If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: ARV (after repair value) explained and why it’s so useful when buying rental property How to estimate ARV and pull comps from nearby sold properties Rookie mistake you might make when estimating ARV and how to know your calculations are correct When ARV is (and isn’t) important, plus, why purchase price isn’t everything CapEx (capital expenditures) vs. repairs and how to write these common expenses off Why Ashley can’t ever just relax on the weekends And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Hear Our Recent Episode with Pace Morby EZ Calculator Invelo LandGlide onX Hunt Privy PropStream Zillow Follow Grant Warrington, the Apartment Investor Expert, on Instagram Books Mentioned in the Show: Real Estate Rookie by Ashley Kehr & Tony Robinson Check the full show notes here: https://www.biggerpockets.com/blog/rookie-336 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Buying eight rental units in under one year—how is that even possible? By the time you’re done with this episode, you’ll know how to fund any rental property purchase, no matter how much money or experience you have. And if Tim Yu can build a rental property portfolio AND do multiple house flips in less than twelve months when he had close to nothing in his bank account this time last year, you can, too. Tim is a true Real Estate Rookie. He spent over a year listening to every episode of the show on his way to and from work. After getting fed up with analysis paralysis, Tim threw in a lowball offer on a potential BRRRR (buy, rehab, rent, refinance, repeat) property. His offer was accepted! The problem? He had NO money to buy it. Fast forward a year; Tim has done ten deals, owns eight rental units, and is getting closer to leaving his W2 job. In this episode, Tim reviews EVERY (and we mean EVERY) type of rental property financing. From hard money loans to credit cards, selling off retirement accounts, and partnerships. Whether you’ve got the funds or not, Tim will walk through EXACTLY how to get your first (or next) rental property! In This Episode We Cover: Rental property financing 101 and how to invest in real estate with no money Creative financing, subject to, and doing deals WITHOUT using banks How to instantly boost the cash flow on your long-term rental property Investing with partners and where to meet the most legit ones Crooked contractors and how to avoid getting scammed on your first rehab And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Real Estate Rookie Podcast 329 on VA Loans Real Estate Rookie Podcast 330 with Serena Norris Invelo REIPro Privy RentRedi Books Mentioned in the Show: Real Estate Partnerships by Ashley Kher & Tony Robinson Rich Dad Poor Dad by Robert Kiyosaki Who Not How by Dan Sullivan Connect with Tim: Tim's BiggerPockets Profile Tim's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-335 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
If a potential tenant approaches you about Airbnb rental arbitrage, you may wonder if there’s a catch. Are you responsible for damages? What if you encounter a noisy guest? As a landlord, there are all kinds of pros and cons you need to consider before letting someone else lease out your home. But, not to worry—our hosts are here to spell them out! Welcome back to the Real Estate Rookie podcast! In this episode, Ashley and Tony deliver some critical advice to landlords. In addition to rental arbitrage, they discuss non-renewal notices—when and how to deliver them! For first-time investors, they also provide a step-by-step process for creating an offer letter. What’s more, they break down the biggest differences between hard money loans and construction loans and which one is the better option for a BRRRR (buy, rehab, rent, refinance, repeat). Finally, they touch on structuring partnerships and all of the details you MUST flesh out before making one official! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: The pros and cons of allowing Airbnb rental arbitrage in your units How to deliver a non-renewal notice to a tenant (properly and legally!) How to make an offer on an investment property (step by step!) Key differences between hard money loans and construction loans The BEST ways to structure a real estate investing partnership And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Grab Your Copy of “Real Estate Partnerships” Today Rookie Reply: How to Structure a Real Estate Partnership Rookie Reply: Airbnb Arbitrage, Turnkey Rentals, and When to Use a HELOC Rookie Reply: How to Make an Offer on a House (Even If It’s Off-Market) How to Find Your Perfect First Rental Property (Even in an Expensive Area) w/Lyrva Sanchez How to Use Construction Loans to Get 100% Financing on Your Next Deal Check the full show notes here: https://www.biggerpockets.com/blog/rookie-334 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Your real estate business has come across a little money. Maybe you’ve just sold an investment property for a large profit or increased your W2 income. In any case, how should you go about investing your small fortune? Like any investor, you want your money to help you scale your real estate business faster. Today’s guest is here to lend a hand! Welcome back to the Real Estate Rookie podcast! Usually, Ashley and Tony are the ones asking the questions, but in this very special episode, THEY are being interviewed by rookie investor Kevin Cullen. On the brink of selling one of his three investment properties, Kevin has a handful of burning questions for our hosts. How should he spend his newfound capital? Should he get a partner for his next deal? What are the best ways to structure his first partnership? In this episode, Kevin hits on several important topics that rookies often wonder about. Stick around for the biggest “red flags” to look out for in a potential investing partner, key terms to include in a partnership agreement, and when to get an attorney involved as you’re forming your partnership. You’ll even learn how to reinvest your money into real estate and three ways to find off-market properties! In This Episode We Cover: How to reinvest your money and scale your real estate portfolio faster The best ways to structure your first real estate investing partnership Roles and responsibilities you MUST include in your partnership agreement How to restructure an existing partnership agreement The biggest “red flags” to look out for when vetting a potential partner Finding the best off-market deals with three clever sourcing strategies And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Grab Your Copy of “Real Estate Partnerships” Today Double Your Cash Flow Overnight (In ANY Market) with Medium-Term Rentals Using OnlyFans to Fund Ownership in Her First BRRRR w/ Brin Amberlee Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/ Chad Carson A Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals w/ Nate Robbins Connect with Kevin: Kevin's BiggerPockets Profile Kevin's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-333 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
First rental property? Security deposits, credit checks, and home renovations can seem DAUNTING when it’s your first real estate rodeo. How much do you charge, which tenant do you select, and will refreshing the grout allow you to double your passive income? These are just some of the questions you’ll have before you collect your first rent check. But don’t worry about answering them yourselves; we have the experts to help! Welcome to this week’s Rookie Reply! If you’re just starting your real estate investing journey, this is the place to be! Ashley and Tony go through some VERY common questions, such as what to do if your tenant terminates their lease early, how much to charge for security deposits, and how to run your first credit/background check. For those who are a bit more experienced in the investing game, we also chat about HELOCs, rental renovations (and if they’re worth the cost), and moving properties into an LLC. If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: What to do when your tenant leaves in the middle of their lease Using a HELOC to buy a new home and what happens when you move Security and pet deposits, plus how much you can charge for each Best tenant screening and background check software for rookie landlords Moving properties into an LLC and whether you REALLY need an attorney to do so Rental renovations and when your upgrade ISN’T worth the cost And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Hear About Tyler Madden’s HELOC Investing The Landlord’s Guide to Rental Property Security Deposits AppFolio Avail.co Buildium RentRedi.com TenantReports.com Check the full show notes here: https://www.biggerpockets.com/blog/rookie-332 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Your first rental property is the hardest; trust us on that. You go through SO many strategies, different markets, and emotions throughout the process. Most wannabe investors get fed up and quit before they can build any real wealth, but those with a strong reason behind their dreams of rental property ownership make it and seldom regret it. Lyrva Sanchez’s “why” was taking care of her two boys while being present as a single mom. Shortly after her separation, Lyrva knew she didn’t want to sacrifice any quality of her children’s lives. She still wanted them to go to the best schools in the safest areas, but in Southern California, even the most basic property was pricey. She tried several strategies to get her first rental property and create extra income, but none cemented. One day, a light bulb went off, and she came up with the PERFECT first rental property strategy. If you’re struggling with analysis paralysis and don’t know which way to turn in your investing journey, hear Lyrva out. She flew across the country just to realize what she wanted was in her own backyard. Now, she makes life-changing side income and doesn’t have to sacrifice time with her kids to get it! In This Episode We Cover: The perfect first rental property strategy that Lyrva calls “the best of both” way to invest Out-of-state investing and when purchasing properties from afar is NOT the right move to make Investing during tough times in your life and using your “why” to keep hunting for property #1 ADU (accessory dwelling unit) investments and how to turn extra space into a serious stream of income How to find underpriced, off-market real estate deals as a COMPLETE beginner And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question The 6-Step Guide to Buying Your FIRST Rental Property Book Mentioned in the Show Real Estate Partnerships by Ashley Kehr and Tony Robinson Connect with Lyrva: Lyrva's Facebook Lyrva's Instagram Lyrva's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-331 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
When done well, home renovations can help you make a SERIOUS profit on your properties. Whether it’s a simple fix or a complex rehab, having a few systems and processes in place will go a long way toward ensuring your success. The best part? Any rookie can implement them! Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with graphic designer turned full-time investor, Serena Norris. After a friend introduced her to the book Rich Dad Poor Dad, real estate quickly became Serena’s new obsession. She quit her job to spend the following months networking and attending meetups until, naturally, she found a mentor to show her the ins and outs of investing. At first, she was willing to take on all kinds of mundane tasks and soak up as much information as possible. In no time, Serena was running her own BRRRRs (buy, rehab, rent, refinance, repeat)! Whether you need help convincing a mentor to invest in you or managing your own home renovation projects, Serena’s got you covered! In this episode, she delivers a thorough breakdown of how to estimate rehab costs and find a good contractor for your home renovations—as well as some of the invaluable systems, tools, and templates you’ll need along the way! If you’re EVER going to do a home renovation (which you probably will), DO NOT skip out on this! In This Episode We Cover: How to manage a home renovation project from start to finish Finding a real estate mentor (and how to provide value to them!) Systems, processes, and templates that EVERY rookie investor needs Building the perfect scope of work for your home renovation job Hiring the right contractor for your project (and how to make sure you’re covered!) Everything you need to complete a home renovation project remotely And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals w/Nate Robbins How to Work LESS and Earn MORE by Putting “Profit First” in Real Estate w/Mike Michalowicz How to Renovate a House — Step by Step Book Mentioned in the Show The Book on Estimating Rehab Costs by J Scott Rich Dad Poor Dad by Robert Kiyosaki Connect with Serena: Serena's Instagram Serena's Email Check the full show notes here: https://www.biggerpockets.com/blog/rookie-330 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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