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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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! (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 [email protected]. 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! (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 [email protected]. 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! (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 [email protected]. 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! 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 [email protected]. 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 [email protected]. 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 [email protected]. 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! 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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! 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 [email protected]. 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 [email protected]. 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! 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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 [email protected]. 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/real-estate-964 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. 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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected]  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! (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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected]  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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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! 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: [email protected] 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! 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: [email protected] 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! 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: [email protected] 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! 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: [email protected] 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: [email protected] 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! 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: [email protected] 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: [email protected] 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 plan a successful house flip from start to finish Keeping your project on track with a construction contract How to build an accurate budget before starting your rehab project Getting the highest return on investment from your home renovations How to source contractors and materials for your house flips Cost-effective design upgrades that add value to your property Why you MUST involve your realtor or broker throughout your rehab project And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-387 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-386 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-385 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-384 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-383 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-382 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-381 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-380 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-379 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 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 Dave's Facebook Dave's Instagram Dave's LinkedIn Dave's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-378 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-377 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-376 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-375 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-374 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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 the full show notes here: https://www.biggerpockets.com/blog/rookie-373 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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: [email protected] 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! 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: [email protected] 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: [email protected] 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! 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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! 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: [email protected] 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: [email protected] 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! 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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! 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: [email protected] 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! 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: [email protected] 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 [email protected] [email protected] 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: [email protected] 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: [email protected] 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 prison, 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! Learn more about your ad choices. Visit megaphone.fm/adchoices

Seller financing is a great way to fund real estate deals on YOUR terms. But why would a seller agree? In this episode, we’re taking a deep dive into the topic—showing you how to pitch seller financing like a pro and get your offer accepted!   Welcome back to another Rookie Reply! Beyond seller financing, Ashley and Tony discuss the ins and outs of scaling a real estate business and some of the most common mistakes that rookie investors make along the way. You’ll also learn why you should keep a mortgage in one person’s name, how to minimize your debt-to-income ratio so you can scale faster, and how to identify the perfect loan products for your portfolio. Finally, good contractors are hard to find, but our hosts deliver some expert advice on how to negotiate with them and protect yourself! 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 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! 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: [email protected] 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! 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: [email protected] 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! 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: [email protected] 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: [email protected] 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! 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to learn how to quit your job with real estate? Many people think you need to replace your entire salary with rentals, but that’s not the case. What if you could earn enough passive income from real estate and supplement it with “passionate” income from something you truly LOVE? Today’s guest will show you how!   Welcome back to the Real Estate Rookie podcast! In this episode, we’re sitting down with entrepreneur, podcaster, and real estate investor Brian Luebben. After grinding his way to the top of his sales job at a Fortune 500 company, Brian had seemingly reached the mountaintop. And that’s when he caught the real estate bug. Leaving his comfy six-figure salary behind, Brian bought two properties and house-hacked his way to dependable monthly cash flow. Most importantly, this allowed him the time to focus on something he was passionate about—podcasting!   If Brian’s story sounds like a walk in the park, make no mistake—his journey to financial freedom has been far from perfect. After multiple panic attacks, FOUR floods, and a seventeen thousand dollar rehab, Brian considered returning to the “safety” of his W2 job. But, thanks to the power of community, he was encouraged to keep going. Buckle up as Brian, Tony, and Ashley show you how to beat analysis paralysis, choose an investing strategy, buy your first property, and more! In This Episode We Cover How to quit your W2 job with real estate (and what to do with the extra time!) Netting thousands in monthly cash flow using the co-living strategy The three “levels” of passive income you can achieve through real estate Passive income and “passionate” income (and how to use one to fuel the other!) How to choose the IDEAL real estate investing strategy for you Why tenant screenings are SO important with your first rental property And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-343 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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-341 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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-340 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] 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! 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: [email protected] 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: [email protected] 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! 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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: [email protected] 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! 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: [email protected] 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! 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: [email protected] 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: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Buying a rental property for just eighty bucks? There’s no way that’s possible. How can you close on a rental for the same amount of money it takes to fill up a tank of gas? Surprisingly, one type of mortgage lets you come to the closing table with no money down, no PMI (private mortgage insurance), and, if you play your cards right, (almost) no closing costs. Clint Campbell even used it on his recent house hack. Thanks to serving in the military, Clint had his college paid for by Uncle Sam. When the opportunity to be deployed came up, Clint took it, knowing he’d make more while spending less. He was able to save up a nice chunk of change and used it to buy a rushed first rental property. But then, Clint realized he could pay almost NOTHING for a home he would live in, so he looked around for just that, and the eighty-dollar house hack came to be! In today’s episode, you’ll learn all about the VA loan Clint used to pay just eighty dollars for his first house hack, the limitations to this loan that service members MUST know about, and how to turn your girlfriend into a handyman and tenant combo who still loves you. In This Episode We Cover The VA loan explained and using it to buy a house for NO money down  Building your credit from scratch and quick tips to boost your credit score Why you MUST get pre-approved before buying a property (ALWAYS do this) Seller credits and using them to lower your closing costs  Partnering with a spouse or romantic partner on your next property  Passive real estate investing and how to make money in real estate WITHOUT doing the work  And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-329 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

If you dream of becoming a successful real estate investor, there are three “pillars” of wealth you must build in your own life. What are these keys to financial freedom? Well, fortunately, today’s guest has written an entire book about them! Welcome back to the Real Estate Rookie podcast! Today, we’re speaking with none other than David Greene—host of the BiggerPockets Real Estate podcast and author of SIX top real estate investing books—the latest of which is titled Pillars of Wealth. Far too often, rookie investors dive into the world of real estate without having mastered the three areas they need to succeed—making, saving, and investing their money. Then, they are gutted when real estate doesn’t work out for them. The truth is that the money habits you build today will follow you throughout life. Work hard, foster a healthy money mindset, and master one challenge before advancing to the next. This is the real path to financial freedom. In this episode, David shares his own experiences with money—including how he was able to steadily increase his income over time, save over $100K while in college, and find success as a real estate investor. You’ll learn about the true cost of financial freedom, how to play offense AND defense with your money, and why you MUST work the long game with real estate—prioritizing delayed gratification over immediate cash flow! In This Episode We Cover: Succeeding in real estate by building the three “pillars” of wealth How to increase your income so that you can invest in real estate Why you NEED to measure and track your net worth, cash flow, and quality of life Building wealth by playing offense AND defense with your money Achieving financial freedom by choosing delayed gratification over quick 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! Tune in to the “BiggerPockets Real Estate” Podcast Grab Another Wealth-Building Book from David Greene Calculate Your Net Worth, Assets, and Cash Flow with Stessa Book Mentioned in the Show Pillars of Wealth by David Greene Connect with David: David's BiggerPockets Profile David's Instagram David's Website Spartan League Check the full show notes here: https://www.biggerpockets.com/blog/rookie-328 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

In just a few years, you can go from no cash flow or investing experience to owning a sizable real estate portfolio, with passive income flowing in and free rent, EVEN if you’re in your early to mid twenties. Not possible? Today’s guest would beg to differ. Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with investor Noah Sprimont, who has had quite the real estate journey to date. Noah became obsessed with the idea of reaching financial freedom through real estate while he and his now-fiancée were living with his parents. To fast-track his development, he not only immersed himself in BiggerPockets content but also took up several W2 jobs that would help him hone the skills he needed to become a successful investor. Laser-focused on making it in real estate, Noah dabbled in several real estate strategies before discovering the cash flow potential of short-term rentals. If a bumpy start to your real estate journey has caused you to feel discouraged, you’ll want to hear how Noah was able to tackle his own feelings of self-doubt and fear of the unknown in this episode. You’ll also learn which skills can help you prepare for real estate investing, how to find flexible financing options for your deals, and what every rookie investor can bring to a partnership—regardless of the number in your bank account! In This Episode We Cover What you MUST do to maximize your short-term rental cash flow Developing invaluable skills that will help you transition into a career in real estate Quitting your W2 to pursue full-time real estate investing Flexible financing options you can get through a smaller bank or credit union How to cover even the most unexpected home renovation costs Three essential tips that will make your next home renovation project a HUGE success 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! 2 Long-Distance Rentals with $0 Down with Tony Robinson How to Invest in Short Term Rentals (STR) Books Mentioned in the Show Real Estate Partnerships by Ashley Kehr & Tony Robinson Connect with Noah: Noah's BiggerPockets Profile Noah's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-327 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Finding off-market real estate deals can be a great way to kick off your investing career, as it requires very little money to get started. The catch? You must be willing to get your hands dirty.  Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with real estate wholesaler Nate Robbins. After a long and successful career in banking, Nate was beginning to feel burnt out and frustrated with life. As fate would have it, he ran into Tarl Yarber—one of the most successful real estate investors in the Pacific Northwest. Under Tarl’s mentorship, Nate learned the ropes of real estate investing. With his strong people skills, natural ability to communicate, and infectious personality, he was able to carve out a niche in acquisitions—where he has been able to close off-market deals at a massive profit. If you need real estate to be your escape rope from the monotony of your nine-to-five, this episode is for you! Nate talks about shedding the W2 mentality and how to find the best investing strategy for you. He also shares his step-by-step process for finding highly profitable off-market deals. Whether you’re a bubbly extrovert or a cautious introvert, Nate will equip you with practical tips on how to engage a seller and get your foot in the door! In This Episode We Cover Finding the BEST off-market deals through the power of driving for dollars How to invest in real estate with little to no disposable income Choosing the “risk” of real estate over the “safety” of a nine-to-five job How to shed your W2 mentality when transitioning to a career in real estate The perfect cold-calling script to use when contacting an off-market seller Important steps to take when walking a distressed property And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-326 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

You can retire with rental properties faster than you think. That’s right, toss out the “wait until I’m sixty-five and HOPE I have enough” mentality. That might be okay for most Americans, but it’s NOT okay for YOU. You want passive income flowing in so you can spend time with your family and friends and live a life you love. If you’re going to get there, you better take advice from Sam Dolciné. A few years ago, Sam calculated his retirement savings and realized he wasn’t even CLOSE to what he would need in retirement. Even after the monthly contributions and employer match, Sam would run out of retirement savings in only ten years of retirement. So, he started looking up ways to boost his retirement income. Real estate investing popped up, and Sam began devouring all the investing content he could. Now, he’s managing a portfolio of out-of-state rental properties that bring in some serious cash flow. The best part about Sam’s portfolio? It’s “turnkey,” meaning Sam was able to buy the properties and immediately rent them out, giving him cash flow within WEEKS of closing on his first couple of deals. Now, Sam is on the hunt for even more passive income. Repeat his steps, and you could be counting cash flow, too! In This Episode We Cover: How to retire with rental properties and why “turnkey” rentals might be your best bet Out-of-state real estate investing and whether cheaper markets are worth buying in How to find the perfect real estate market for your cash flow goals Self-management vs. property management and why Sam chose to do it himself The tenant and property “red flags” you MUST look out for as a rookie Tools that Sam uses to run his real estate portfolio from multiple states away 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! Network with Other Investors On the BiggerPockets Forums Dave Meyer Blog Posts “On the Market” Podcast Apartments.com Monday.com Rentometer Traveling the World Thanks to One $6,500/Month Rental Property w/Olivia Tati Book Mentioned in the Show Real Estate by the Numbers by J Scott & Dave Meyer Connect with Sam: Sam's BiggerPockets Profile Sam's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-325 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Creative financing can be a powerful tool to help you get YOUR first property in the bag. In this episode, Ashley and Tony explain the biggest differences between hard money, private money, and traditional lending, as well as which options will make your offer irresistible to a seller! Welcome back to another Rookie Reply! If you need capital for a new deal, you might consider partnering with a parent. Of course, like any investing partnership, it’s critical that you structure it properly and include all important terms in your agreement. Our hosts will show you how! They also cover cash-out refinancing in detail, including how it works and how much money you can pull from a property. Finally, they talk about using wasted space in your investment property to make more cash flow! Do you need to pull permits? Will you get caught if you don’t? Stick around ‘till the end 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: Using creative financing to make an offer more attractive to a seller The biggest pros and cons of traditional lending, hard money, and private money (and when to use which) Partnering with your parents and key terms to include in your agreement When to order an inspection before submitting an offer on a property Adding a new room in your home (and when you NEED to pull permits) How cash-out refinancing works and how much money you can pull out 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! Grab Your Copy of “Real Estate Partnerships” and Use Code “ASHLEY” or “TONY” for a Discount What Is Creative Financing And How to Use It in Real Estate What Investors Should Know About the Home Inspection Process Follow Patrick and Danielle McGrath on Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-324 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Completing ten real estate deals in only eighteen months might seem ambitious for a rookie investor, but today’s guest had no choice after experiencing a MAJOR loss of income. In this episode of the Real Estate Rookie podcast, we’re chatting with fitness mentor, professional stuntman, and new investor Matt Ramirez. Between his thriving health business and steady television stunt work, Matt and his family were in a good place financially. Then 2020 hit. With stay-at-home orders and the film industry shutting down, Matt was suddenly making just twenty percent of his usual income. Providentially, he discovered BiggerPockets, caught the real estate bug, and was determined to make a career out of flipping houses. But, like many rookie investors, Matt still had some tough lessons to learn along the way! If financial hardship has thrown a wrench in your real estate journey, draw inspiration from Matt’s story. Despite struggling to get approved for financing early on and losing money on his third flip, Matt never gave up on his real estate dream. In this episode, he’ll show you how to find the best real estate deals, get financing with inconsistent income, and hire dependable contractors for your rehab projects! In This Episode We Cover: Scaling your real estate business FAST without a large income Finding great real estate deals by leveraging your network How to get a hard money loan as a first-time investor DIY home renovation projects you can tackle yourself The biggest red flags to look out for when hiring a contractor 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! DIY Real Estate Hacks That Will Save You a FORTUNE on Your Deals w/ Shaun Kelly Flipping Houses: How to Get Started and Everything You Should Know Get Information on Properties with PropStream Connect with Matt: Matt's BiggerPockets Profile Matt's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-323 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Your new Airbnb is set up and ready to go. You’re just finishing up the welcome gift and slipping in a bottle of wine as a pleasant surprise for your guest. Oops…you might have just put yourself in a BAD position. On this week’s Rookie Reply, Ashley and Tony are getting into the moral muddiness of including boozy gifts in your welcome package, how to account for your mortgage interest expense, and when you should (and shouldn’t) buy a property in an LLC. You’ve got the real estate questions; Ashley and Tony have the answers. But we’re not just debating whether your guests should crack a couple cold ones on your dime. We’ll also get into how to find past purchase prices for ANY home, a property tax breakdown with some tips to save you money, and the difference between appraised and assessed value. 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: Real estate LLCs: when they’re worth it, when they’re not, and who should use them Mortgage interest write-offs and whether you should count your biggest monthly payment as an expense Welcome gifts and whether or not adding alcohol could cause you trouble Where to find past purchase prices for ANY property in your area How property taxes are determined and why you want your appraisals HIGH and your assessed values LOW 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! Calculate Your Interest Write-Off with The BiggerPockets Rental Property Calculator Do Landlords Need an LLC for Rental Property? Mortgage Interest Deductions 101: What You Should Know Look Up Past Property Prices: Invelo, & PropStream Check Out Unforgettable Stays with Dell Collective   Check the full show notes here: https://www.biggerpockets.com/blog/rookie-322 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

If your end goal is financial freedom, investing in real estate is one of the best ways to get there. But, if you want to reach that goal sooner rather than later, you may need to leverage several strategies at once. Today’s guests were able to fast-track their journey to financial freedom by doing just that! In this episode of the Real Estate Rookie podcast, we’re chatting with husband-and-wife real estate duo Joe and Andrea DelGrosso. Their investing journey started back in 2016 when they bought a single-family rental without knowing very much about real estate. Although they initially invested for some extra financial stability, their focus shifted in 2019. As they started tuning into BiggerPockets and educating themselves about real estate, they realized that there were ways to expedite their path to financial freedom—tapping into equity to turn tens of thousands into MILLIONS. Today, the DelGrossos have a modest portfolio of ten properties. Stick around as they share how they were able to create multiple revenue streams from a single property, as well as why they made the transition from long-term rentals to short-term rentals. For rookies who are still deciding on which real estate strategy to use, they touch on everything from 1031 exchanges to BRRRRs and more! In This Episode We Cover: Reaching financial freedom faster by combining multiple investing strategies How to create multiple streams of income from ONE property How to get your spouse on board with real estate investing Leveraging the equity in your properties to grow your portfolio FAST How to avoid capital gains taxes using a 1031 exchange 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! Hear Our Recent Interview with Mike Michalowicz Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments w/ Avery Carl Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/ Chad Carson Follow Lauren Mattina on Instagram Connect with Joe and Andrea: Joe's BiggerPockets Profile Joe and Andrea's Instagram   Check the full show notes here: https://www.biggerpockets.com/blog/rookie-321 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

We know what you want: more profit while working less in your real estate business. As a rookie, investing in real estate can sometimes seem like more trouble than it’s worth. But, a few simple adjustments can take HOURS off your plate while making you more money than you can imagine, as today’s special guest will demonstrate! Welcome back to the Real Estate Rookie podcast! In this episode, we’re joined by Mike Michalowicz—serial entrepreneur, business coach, and multi-time best-selling author. Today, we’re dialing in on two of Mike’s books—Profit First and Clockwork—and discussing how they can help YOU in real estate. If you feel like you’re treading water with your real estate business, this is an episode you need to hear! By turning the traditional profit formula on its head, Mike shows you how to rewire your brain and the way you think about profit. You’ll learn the importance of paying yourself first and building a buffer for the inevitable expenses you incur as a real estate investor. You’ll also learn about the first hire ALL business owners should make and how to free up more of your valuable time through the power of delegation. In This Episode We Cover: The importance of paying yourself first (flip the profit formula!) How to start delegating tasks you don’t need to be doing Determining a realistic amount to pay yourself from your property business The first hire EVERY real estate business owner MUST make Tools you NEED to effectively onboard a new virtual assistant Improving your business and freeing up time with “captures” 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! Find Money, Partners, & Deals Using The “D.A.D System” w/ Mike Michalowicz How to Guarantee Profit From Day 1 w/ Mike Michalowicz Grab Your Copy of “Profit First” and “Clockwork” Join Relay for Profit First Banking Grab Your Copy of “Getting Things Done” Follow Andrea Cwik on Instagram Connect with Mike: The Entrepreneurship Elevated Podcast Mike’s Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-320 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Getting into real estate development with low money down!? Many rookies assume that you need more money to develop, but there are a variety of ways to fund these projects. It all depends on how creative you’re willing to get! Today’s guest learned quickly that you don’t need a huge pile of cash to start building your own properties. Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with Terry Harris—a former professional basketball player turned real estate developer. When we last spoke with Terry, he was wholesaling real estate for a decent profit. Since then, he has transitioned into the development side of real estate and grown his business dramatically. Simply by bringing great land deals to developers and providing a valuable service, Terry was able to learn the ropes and gain enough knowledge to develop his own properties. Whether you have huge dreams of building city skylines or an end goal of owning a rental property or two, you’ll want to hear Terry’s story. In this episode, he talks about how to find the best land deals, creative ways to fund projects, and how to assemble a top-tier development team. He also touches on our favorite topic as of late, partnerships, and how to bring real value to another investor when you don’t have the capital! In This Episode We Cover: How to become a real estate developer (without a ton of money!) Funding your deals with construction loans (and paying less out of pocket!) How to seamlessly pivot from one real estate strategy to another Scaling your real estate business through the power of partnerships Ways to bring value to a partnership deal beyond capital How to assemble your DREAM team as a real estate developer 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! 20 Deals in a Year as a Professional Basketball Player w/ Terry Harris Grab Your Copy of “Real Estate Partnerships” Get Information on Properties with PropStream Follow Lady Gina on Instagram Connect with Terry Terry's BiggerPockets Profile Terry's Instagram Terry's YouTube Check the full show notes here: https://www.biggerpockets.com/blog/rookie-319 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t have the capital OR credit to invest? Seller financing is a powerful tool that could allow you to score multiple real estate deals without ever going through a bank. The best part? You can create your own terms! You just need to put together an effective pitch that wins the seller over. Today, we’ll show you how! Welcome to another Rookie Reply! In addition to seller financing, Ashley and Tony cover several CRUCIAL real estate topics in this episode—from critical first steps to take before investing to closing costs—who pays for what? Does paying cash make a difference? Stick around to find out! Off the back of their new book, Real Estate Partnerships, they also tackle a couple of partnership-related questions—when it makes sense to get a partner and how to structure an agreement where both sides are compensated! 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 invest in real estate without capital OR credit How to effectively pitch seller financing (and KEY terms to include!) Three critical first steps to take before buying real estate Buyer and seller responsibilities when it comes to closing costs Accounting for sweat equity when setting up a partnership How to structure a partnership agreement where both sides are fairly compensated 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! Grab Your Copy of “Real Estate Partnerships” and use code “TONY or “ASHLEY” for a Discount The Definitive Guide to Using Seller Financing to Buy Real Estate How to Buy a Rental Property with NO Money OR Credit Follow Artina Marie on Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-318 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Growing a real estate business with multiple rentals and HUGE cash flow…in just two years!? How do you get so many deals done in such little time? Simply by putting one foot in front of the other, today’s guest was able to create a sizable portfolio in no time—allowing her husband to quit his job in the process! Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with Mackenzie Brogdon, a wife, mother, realtor, and investor who managed to lock up seven deals in just two years—with more in the works! With a general contractor for a father and a background in interior design, Mackenzie was bound for a career in real estate. But that didn’t make getting started any less intimidating. With concerns about house hacking as a new parent, she could have easily hit the “pause” button. Instead, she plunged headfirst into her first deal—one that, despite having its fair share of headaches, opened the door for many more deals to come. Whether you’re a “nervous Nellie” or an “eager beaver,” this episode will teach you the importance of taking wise, deliberate action on your real estate journey. Join Mackenzie, Ashley, and Tony as they cover a variety of investing strategies—from house hacking and flipping to arbitrage and subject to deals. They also talk about why every investor should document their journey and how to find the perfect investing partner to complement your strengths! In This Episode We Cover How to get MORE deals done through subject to and other creative finance options Finding investing partners by leveraging your own skills Why you MUST document your real estate journey How to build your own network of subcontractors for home renovation projects The benefits of long-term rental arbitrage as a landlord Maximizing your cash flow with the sober living rental strategy The perks of getting your real estate license as an investor And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-317 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Your tenant is breaking their landlord tenant lease agreement. What now? Do you go after the money or eat the loss? Depending on the amount, it may not even be worth the trouble. Either way, perhaps the more important question to ask is, “How can I prevent this from ever happening again?” Welcome back to another Rookie Reply! Broken leases are a pain to deal with, but in this episode, Ashley and Tony offer up the “magic words” that could save you the headache. They also talk about partnerships and make the case for getting pre-approved separately. Rookie investors often feel like fish out of water when it comes to networking. Fortunately, our hosts have several helpful tips on how to bring real value to the table. They also go over property management fees and how to vet a property manager before hiring them. Finally, they discuss tax strategy versus tax preparation and why waiting until tax season to hire a CPA is the wrong move! 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 if a tenant breaks a lease (and the clause you MUST put in your lease agreement) The best way to get pre-approved for a loan when you’re in a partnership Two questions you MUST ask before hiring a CPA (certified public accountant) Different types of fee structures to consider before hiring a property manager Minimizing your taxes as much as possible as an investor How to bring value as a rookie investor and build your network 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! Grab Your Copy of “Real Estate Partnerships” Today When It Comes to the Lease, Don’t Leave Any Wiggle Room Follow Gaby and Ciara on Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-316 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Going from house poor to earning HUGE cash flow and building a real estate empire? The journey to wealth through real estate was no walk in the park for today’s special guest. After figuring out that someone else would actually pay his mortgage for him, however, it became a whole lot easier! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by none other than Rob (Robuilt) Abasolo—investor, YouTuber, and co-host of the BiggerPockets Real Estate podcast. Born to first-generation immigrants who worked tirelessly to provide him with a better life, Rob grew up knowing how to live below his means. Little did he know that this mindset would prove critical when he and his wife were stuck with a mortgage payment they couldn’t afford. It was at this time that Rob discovered house hacking and put the strategy to the test—with enormous success! Ultimately, this proof of concept would give him the courage to build and scale his very own real estate business. If you need to be reminded that investing in real estate is a viable path to financial freedom, look no further than this ultimate rags-to-riches story. As Rob reflects on his days as a rookie investor, he shares why it’s so important to document your journey, different ways to subsidize your mortgage, and how to get your spouse on board with your real estate obsession! In This Episode We Cover: Why you NEED to start documenting your real estate journey today Supplementing your income with creative side hustle ideas How to get your spouse on board with your real estate ventures Subsidizing your mortgage payment through house hacking and rental arbitrage Using proof of concept to scale your real estate business Money-saving DIY home renovation projects (and when to hire a pro instead!) 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! Listen to the "BiggerPockets Real Estate" Podcast Meet Rob at BPCon 2023 in Orlando 10 Deals on a $20K Waitress Salary With Ashley Hamilton Connect with Rob: Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter/X Rob's YouTube Join Rob at HostCon on October 28–30 in Houston, TX Check the full show notes here: https://www.biggerpockets.com/blog/rookie-315 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Are mortgage points really worth it? In many cases, they can save you money on a loan. But be careful; that lower rate might not be worth the cash you put up! It’s important to run the numbers before doing a mortgage buydown, and our trusted hosts are here to show you how! Welcome to this week’s Rookie Reply! In this episode, Ashley and Tony talk about mortgage points and when they make sense for real estate investors. They also discuss cash-out refinancing in depth—how much you can pull from a property, why banks enforce a “seasoning period,” and how to potentially get around it! Looking to go digital with your rentals? Our experts list the pros and cons of installing keyless entry pads. Finally, they provide the FREE tools you can use to get updated property information! 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: Mortgage points and why you MUST do the math before a buydown Seasoning periods and how long you might need to wait before refinancing How much cash you’re able to pull in a cash-out refinance How to choose between short-term and long-term rental strategies Pros and cons of installing keyless entry pads for your rentals FREE tools you can use to get accurate information about 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 Submit Your Real Estate Rookie Question! Find Your Next Off-Market Deal, with Invelo Change Your Locks with Ease by Purchasing Core Inserts Follow Emma Kioko on Instagram Books Mentioned in This Episode Real Estate Partnerships by Ashley Kehr & Tony Robinson Check the full show notes here: https://www.biggerpockets.com/blog/rookie-314 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

No real estate investing journey is ever sunshine and rainbows, but some are certainly more difficult than others. Many rookie investors are either so fearful of making a mistake that they experience “analysis paralysis” or are so eager to own property that they rush into several costly mistakes. Today’s guest fell into the latter camp! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Tyrin Tyson, a travel nurse who made his fair share of mistakes on the way to his first deal. After working tirelessly to save up extra cash for real estate, Ty hastily bought two properties at an auction. Come to find out, they weren’t exactly as advertised. To make matters worse, some bad advice led to a nightmare rehab project that went $20,000 over budget and took nearly two years to complete. If you want a realistic picture of the average real estate journey, this is an episode you won’t want to miss! Hear how Ty earned the capital to invest (including a fun side hustle!), weathered the storms of his first deal, and found a real estate community that pushed him to keep going when giving up seemed like the best option. In This Episode We Cover: Why you MUST have a game plan before buying real estate The two challenges you are likely to face without a real estate community How to find a mentor who will point you in the right direction The pros and cons of long-distance investing vs. staying in your market How to spot a nightmare renovation project when estimating rehab costs Creative side hustle ideas you can use to fund your real estate 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 Submit Your Real Estate Rookie Question! Manage Your Rental Property with Stessa Books Mentioned in This Episode The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Hann & Matt MacFarland Real Estate Partnerships by Ashley Kehr & Tony Robinson The Cashflow Quadrant by Robert Kiyosaki Connect with Tyrin: Tyrin's YouTube Tyrin's Instagram Tyrin's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-313 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

You recently submitted an offer on a house, but you haven’t heard back from the seller. Now what? As an eager rookie investor, the waiting game can be painful. You may already have an eye on other properties but need the capital to invest. Should you withdraw your original offer? Fortunately, Ashley and Tony have a few helpful tips to make your decision a little easier. Welcome back to another Rookie Reply! In this episode, our hosts tackle several important topics—including when to pull an offer on a house and whether you should create an LLC when buying your first property. They also discuss the biggest differences between single-family and multifamily real estate and which type of property is best for rookie investors to target. Finally, they talk about how to become a private money lender and the two important documents that should be in place before you lend a penny! 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: Rescinding an offer on a house when you don’t hear from the seller Whether to buy a single-family or multifamily property for your first deal LLCs and whether you need one when buying your first property How to become a private money lender (and what you need to protect yourself!) The two documents that MUST be in place before lending money 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! Hear Our Full Episode on Real Estate Partnerships Grab Your Copy of “Real Estate Partnerships” Today How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability Follow Mindy Templeton on Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-312 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Some simple DIY investing hacks could save you thousands of dollars. But, as a rookie, the thought of tackling your own home renovation projects might be a little intimidating. Bringing sweat equity to a deal, however, can help you save a ton of money and even make you more valuable in a partnership. In this episode of the Real Estate Rookie podcast, we’re chatting with Shaun Kelly, whose road to real estate investing was anything but fast or easy. Shaun spent nine years in the analysis paralysis phase before he finally pulled the trigger on his first deal. Since then, he has built a portfolio of nine properties in four years and has refined his DIY skill set to the point where he can perform all types of rehab projects for a fraction of the typical cost. Whether you’re looking for creative ways to increase profits on your investment properties or bring value other than capital to a partnership, tune in to hear Shaun’s biggest money-saving DIY hacks and his journey, from making simple fixes to performing major home renovations. Ashley and Tony discuss their own experiences with DIY projects and list the jobs they prefer to outsource to a pro! In This Episode We Cover DIY hacks that will help you save a FORTUNE on home renovation projects How to stop overanalyzing and finally land your first real estate deal How to account for sweat equity when structuring a partnership The importance of documenting your journey as a new real estate investor Harnessing the power of YouTube to build your network and create another income stream 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! Analyze Your Deals with the BiggerPockets Investment Calculators Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio Follow Ashley Wilson on Instagram Book Mentioned in the Show: Real Estate Partnerships by Ashley Kehr and Tony Robinson The Gap and the Gain by Dan Sullivan Connect with Shaun: Shaun's BiggerPockets Profile Shaun's YouTube Check the full show notes here: https://www.biggerpockets.com/blog/rookie-311 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Do you really need a real estate partnership for your deals? What are the benefits, and do they outweigh the risks? Well, it depends. The truth is that, while great partnerships will deliver value to both sides, bad partnerships will turn belly-up in no time. Welcome a very special edition of the Real Estate Rookie podcast, where our hosts, Tony and Ashley, talk about their latest book, Real Estate Partnerships. There are several reasons why a rookie investor might benefit from having a partner. Maybe they lack the capital for a particular deal, or maybe there are knowledge gaps where the expertise of a more seasoned investor might prove helpful. If you’ve wondered whether forming a partnership is the right move for you, you’re in luck—this episode is all about partnerships! Tune in to learn where to look for a partner, how to structure a partnership, and the differences between equity partnerships and debt partnerships. Our hosts also share the single greatest sign of whether a partnership will succeed.  Remember to grab your copy of Real Estate Partnerships and use code “PARTNER310” at checkout for an exclusive discount! In This Episode We Cover Four signs that you NEED a partnership to succeed in real estate  The best places to look for a real estate partner Choosing a partner with a compatible personality and complementary skill set How to properly structure your real estate partnership (and splitting the deal!) Important points you MUST include in your partnership agreement The main differences between equity partnerships and debt partnerships 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! Hear David and Rob on the “BiggerPockets Real Estate” Podcast How to Use the DISC Profile to Communicate Effectively in Business David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Book Mentioned in the Show: Grab Your Copy of “Real Estate Partnerships” and Use Code “PARTNER310” at Checkout Check the full show notes here: https://www.biggerpockets.com/blog/rookie-310 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A small real estate portfolio that replaces your entire W2 income!? Many rookies assume that becoming a full-time investor is only possible after amassing a large portfolio with dozens of properties, but that’s not the case. Today’s guest was able to meet his family’s monthly income goals with only six rentals! In this episode of the Real Estate Rookie podcast, we’re speaking (in person!) with Travis Hall, an investor who knew very little about real estate just 18 months ago. After seeing the stress that his wife’s rigorous W2 job was creating, Travis discovered BiggerPockets and caught the real estate bug. The rest is history. Today, he has a small portfolio of six rentals—all thanks to the power of networking, partnerships, and, most importantly, taking action. If you’re ready to trade in the rigidity of your nine-to-five for the flexibility of real estate, tune in to hear Travis talk about his fast journey to full-time real estate investor. He spares no details when discussing his short-term rental strategy (including some VERY unique investments), as well as the monthly income goals he needed to meet to make full-time investing a reality. Grab Ashley and Tony’s latest book, Real Estate Partnerships. Don’t forget to use code “REALESTATE” to get 10% off at checkout! In This Episode We Cover Replacing your W2 income through a small real estate portfolio Combining the cash flow from multiple rentals to meet your income goals Why you NEED to review your market’s short-term rental regulations BEFORE closing a deal Airbnb arbitrage (and how to convince a landlord to let you do it!) Using Facebook groups to find partners for future real estate deals How to start managing other properties with ZERO capital And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-309 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

How important is cash flow when analyzing real estate deals? Many rookies zero in on this familiar figure when crunching the numbers, but there’s another metric that is FAR more important: cash-on-cash return. This simple but powerful equation can help you determine whether an investment property is worth buying! Welcome to another Rookie Reply! Many rookies struggle to analyze deals when starting out. Fortunately, Ashley and Tony are here to show you exactly how to calculate your cash-on-cash return on a property. They discuss when to use lines of credit to help fund deals, as well as how to pitch seller financing options that make sense for both sides. They also talk about the home appraisal process and, finally, whether an offer on a property can ever be TOO low! 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 Why you should use cash-on-cash return over cash flow when analyzing deals How low is TOO low when making an offer on a property When it makes sense to use a line of credit for a down payment The purpose of appraisals and when you might need to order one How to effectively pitch seller financing options so both sides walk away with a win 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! Use the BiggerPockets Investment Calculators to Analyze Your Deals Using Lines of Credit to Kickstart Your Investing Career Check the full show notes here: https://www.biggerpockets.com/blog/rookie-308 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Your rental property is at risk. Maybe not now, but in the near future, you could face property damage, the need to rebuild, or an angry tenant/guest filing a lawsuit against you. What do you do? Don’t get too sweaty; this is why you have landlord insurance! The problem? Most landlords have coverage that BARELY protects their properties when something goes wrong, leaving their entire portfolio vulnerable just to save a few dollars. This is a HUGE mistake and could cost you far more than you know. To help demystify the world of rental property insurance, we brought on Christian Bachelder from The One Brokerage and Darren Pettyjohn, co-founder of Proper Insurance. Together, these two policy powerhouses discuss the BEST ways to protect your properties, the unknown risks that so many rental property investors aren’t aware of, and the common mistakes rookies make when choosing a rental property insurance policy. But that’s not all. Christian and Darren will give you the exact questions to ask your insurance agent/broker, uncover why umbrella policies are a MUST in this business, and explain why big insurers are leaving high-risk states like California and Florida. This discussion could save you hundreds of thousands, if not MILLIONS when something goes wrong at your property! In This Episode We Cover The most common mistakes rookies make when getting landlord insurance  CRUCIAL questions to ask your agent BEFORE you buy a policy  Umbrella insurance vs. LLC protection and which is a better bet for investors  The three most important parts of your insurance quote and numbers to pay attention to Short-term rental property insurance and why AirCover just won’t cut it  Renters insurance and the unbelievably cheap protection it provides 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! Find Insurance For Your Rental Property The BiggerPockets Guide to Landlord Insurance Rookie Reply Episode 296 Richer v. Travelers Case Connect with Christian & Darren: Christian's BiggerPockets Profile Christian's Instagram Christian's Email Darren's BiggerPockets Profile Darren's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-307 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Financial freedom with only a handful of rental properties!? So many real estate investors are convinced that amassing units is the key to bigger profits, but the truth is that a strategy involving fewer doors can be just as—if not more—effective. Today’s guest is an advocate for the “small and mighty” real estate portfolio that allows you to create passive income, pursue your passions, and achieve financial independence on your terms! Welcome back to another episode of the Real Estate Rookie podcast! Today, we’re sitting down with Chad “Coach” Carson to discuss his latest book, The Small and Mighty Real Estate Investor. Enjoying the flexibility that many rookie investors dream of, Chad and his family live abroad while his property managers handle the day-to-day operations of his rentals stateside—allowing him to spend very little time on his business each week. If you want to achieve financial freedom without becoming enslaved to your real estate business, this is an episode you won’t want to miss! Chad speaks on creating passive income through real estate, how to enjoy a two-hour workweek, and why accumulating more units shouldn’t be your end goal. He also talks about the three phases in every real estate journey and why the final phase is the key to unlocking your financial independence! Remember to pick up Chad’s new book and use code “SMALL306” at checkout!  In This Episode We Cover How to build a small real estate portfolio that supports your financial goals The three important phases in every real estate journey Lean FI, fat FI, and why you should know both numbers before investing The people and systems you NEED to create passive income from your rentals Arriving at “enough” when scaling your real estate empire 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! Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner Books Mentioned in the Show Retire Early with Real Estate by Chad Carson Get Your Copy of “The Small and Mighty Real Estate Investor” and Use Code "SMALL306" for 10% Off Connect with Chad: Chad's BiggerPockets Profile Coach Carson Podcast Chad's Instagram Chad's YouTube  Check the full show notes here: https://www.biggerpockets.com/blog/rookie-306 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t know how to analyze a rental property? After this episode, you’ll be a rental property analysis pro, knowing exactly how much money you’ll make on your first, second, or next real estate investment. But don’t worry; you won’t need any complex formulas, dense spreadsheets, or complicated math to calculate how much cash flow you’ll collect from your real estate deal. Instead, you can use the EXACT methods we show to analyze investment properties in minutes, EVEN if you’re a real estate rookie! In this episode, Ashley and Tony will teach you EXACTLY how to analyze real estate deals in 2023. From long-term to short-term rentals, BRRRR properties, and choosing your real estate market, Ashley and Tony will go through everything you need to ensure your first or next real estate deal is a home run. Our hosts will go step-by-step through analyzing a real estate investing market, signs of one you should invest in, building your “buy box,” analyzing a long-term, short-term, and BRRRR investment property, and how the 2023 housing market has changed. If you’re still waiting to get a rental property under contract, this is the place to start In This Episode We Cover How to analyze a rental property, short-term rental, or BRRRR investment from scratch  2023 housing market updates and what you MUST know before buying  Using the BiggerPockets rental property calculators to analyze properties in minutes Where to find insurance prices, property taxes, and other KEY variables  The three things you MUST know before analyzing an Airbnb or vacation rental  Financing your real estate deal and rental property loans you can use to purchase an investment 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! BiggerPockets Calculators Used in This Episode: Rental Property BRRRR Rent Estimator Tune into The “Real Estate Rookie” Podcast: Podcast YouTube Grab Tony’s Short-Term Rental Calculator BrightInvestor NeighborhoodScout Policygenius PriceLabs Propstream Investor Shout-Outs: Amy Mahjoory Lattes and Leases Zosia Madden (Rookie Ep 301) Check the full show notes here: https://www.biggerpockets.com/blog/rookie-305 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to buy your first investment property? You DON’T need twenty percent down sitting in your bank account. We know; everyone has told you that you need a massive down payment before you buy a property. But did you know that expert investors like Ashley and Tony rarely come to the closing table with their own money? If you know where to find the right funding, you too could buy multiple income properties a year WITHOUT having to scrimp and save up tens, if not hundreds of thousands of dollars! We’re back with another funding and finance-first Rookie Reply episode. This time, Ashley and Tony will go over how to fund your first BRRRR or fix and flip, EVEN if you don’t have twenty percent down. On a closely related note, we’ll touch on what to show a private money lender when you’re looking for funding and the “private money packet” new investors should start creating TODAY. Then, Ashley and Tony will hit on how to make more offers so you can build wealth faster. Lastly, you’ll hear the differences between small and large multifamily and why experienced investors LOVE larger deals. 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 Reserves, down payments, and how to fund your first BRRRR or fix and flip if you’re low on cash Unlocking private money lending and exactly what a lender wants to see before they fund your deals  The easiest way to start making more offers and the simple technique that’ll make analyzing deals a breeze  What to know BEFORE you buy a large multifamily property (and laws to pay attention to) Cap rates, commercial real estate, and why bigger deals are often easier to increase equity  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! Listen to Episode 303 with Spencer Carpenter Check Out Our Mentee Episodes with Lawrence Briggs: Part 1 Part 2 Part 3 Part 4 Lattes and Leases Serena Norris Check the full show notes here: https://www.biggerpockets.com/blog/rookie-304 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

The easiest way to supercharge your real estate portfolio? Host your own real estate meetups to build your network! If that sounds intimidating, you’re not alone! Many rookies let their lack of experience or fear of no one showing up stop them from tapping into this gold mine of a networking strategy. Today’s guest found it to be the fastest and easiest way to find wholesalers, buyers, and lenders for his real estate deals! Welcome back to the Real Estate Rookie podcast! In this episode, Ashley and Tony are joined by Spencer Carpenter—an investor who got into real estate with the goal of supporting his family members in retirement. After his first deal went south, however, Spencer lost most of his capital and could have easily given up on real estate. Instead, he doubled down and networked his way to a pair of house flips that he was able to sell at a sizable profit. If you’ve ever wondered how investors grow their networks to find better deals, this is the episode you’ve been waiting for! Spencer provides his step-by-step formula for hosting real estate meetups at little to no cost, while Ashley and Tony offer their best tips for vetting contractors and property managers. They also discuss working with hard money lenders and what can go wrong if you DON'T maintain an open line of communication! In This Episode We Cover How to host your very own real estate meetups at no (or low) cost Harnessing the power of networking to find wholesalers, buyers, lenders, and more The best ways to find and vet contractors for your rehabs Weighing your financial risk when analyzing real estate deals Red flags to look out for when hiring a property management company Why you NEED to get on the same page with your hard money lender upfront And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-303 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

100% financing for ALL of your real estate deals? Without thousands of dollars saved up, many people assume there’s no way for them to invest in real estate. But that’s far from true. Today, you can fund your entire real estate deal—including purchase price, down payment, closing costs, and rehab costs—using other people’s money! Welcome back to another Rookie Reply! If you don’t have the funds to invest in real estate, hear Ashley and Tony share their best strategies for getting deals done with creative financing. They also discuss rehab costs and provide a three-step plan for estimating them. Hiring a property manager is a daunting task for any rookie, but our hosts share the biggest red flags to watch out for when vetting a property management company. Finally, they discuss the touchy subject of rental repairs—who’s responsible and how to keep the peace with tenants! 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 get financing for 100% of your deals (purchase price AND rehab costs!) Four EASY ways to find private money lenders for your real estate deals The three-step plan you NEED to accurately estimate rehab costs Red flags to look out for when hiring a property management company How to determine who is responsible for repairs (without upsetting your 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! Private Capital Explained: The 4-Second Pitch to Unlock Unlimited Funds (Part 1) Private Money Explained: 5 Simple Ways to Find Private Money Today (Part 2) Private Money Explained Part 3: The “Credibility Pieces” Lenders Love to See Private Money Explained Part 4: Rates, Returns, and Protecting Investors 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 Follow Amy Mahjoory on Instagram to Learn More About Raising Private Capital Book Mentioned in this Episode: Raising Private Capital by Matt Faircloth The Book on Estimating Rehab Costs by J Scott   Check the full show notes here: https://www.biggerpockets.com/blog/rookie-302 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Hiring a contractor doesn’t have to be a guessing game. Most real estate rookies choose the first (or cheapest) contractor that comes their way, but this rarely leads to a home renovation gone right. Instead, you could be looking at tens of thousands in extra costs, poor-quality workmanship, timelines that stretch out months past your projections, and a rental property that almost any tenant will walk away from. So, how do you find the BEST contractors in your area? And what are some signs that a contractor will make your life easier? We’ve got all the answers in this episode. Rachel Richards is back on the show to talk about her recent renovation done by Zosia Madden’s team over at Laurelless. While Rachel was thousands of miles away traveling, Zosia and her team turned Rachel’s newest property around, staying on budget, on time, and with as little stress as possible. After some tear-inducing past experiences with other, lower quality contractors, Rachel and Zosia go over EXACTLY what makes a contractor the right one, red flags to look out for, software to use, and lessons learned that EVERY investor should take to heart!  Check the full episode here: https://biggerpockets.com/playlist Learn more about your ad choices. Visit megaphone.fm/adchoices

Significant other not sharing your enthusiasm for real estate? Maybe you have dreams of buying your first property or going full-time with a real estate business, but your partner isn’t on board. You’re not alone! The truth is that investing in real estate is a huge decision, and couples aren’t always on the same page. Fortunately, there are ways to align your goals and build a profitable real estate business together. In this episode of the Real Estate Rookie podcast, we’re chatting with Zosia Madden. Today, Zosia and her husband Tyler operate two businesses—a successful construction company and a seven-figure real estate business with twelve rental properties. Despite their recent success, the couple faced many challenges before going all-in on real estate—including the question of whether Zosia should leave the stability of her W2 job. As you might expect, they didn’t arrive at this decision overnight. It took multiple conversations—filled with vision-casting, goal-setting, and strategizing—before Zosia was able to put in her two-week notice. If you and your significant other seem to be on two different wavelengths, you don’t want to miss this episode! Zosia, Ashley, and Tony cover some of the most important questions you’ll want to ask your partner on your journey toward financial freedom. They also discuss topics that many rookie investors struggle with—such as paying yourself, hiring fractional advisors, and the systems and processes that will help you scale your real estate business! In This Episode We Cover Questions all couples should ask to help align their long-term goals The three stages of spouse involvement in real estate investing How to transition from a stable W2 job to a full-time real estate investor Fractional advisors and how hiring them can change the trajectory of your business When to take a salary from your real estate business (and when to reinvest instead!) Systems and processes you NEED to scale 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 The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple Building and Scaling a Massive Real Estate Business Real Estate Rookie 300 with Rachel Richards Real Estate Rookie 55 with Tyler Madden Real Estate Rookie 173 with Tyler Madden Books Mentioned in this Episode: The ONE Thing by Gary Keller with Jay Papasan Connect with The Maddens: Zosia's BiggerPockets Profile Zosia’s Instagram Tyler’s Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-301 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Huge cash flow after selling most of your real estate portfolio!? Many rookies assume that having more doors equates to more profit, but that’s not always the case. The truth is, if you start identifying the best investing strategy for your property, you can make more cash flow while owning fewer units. Today’s guest has had small and large portfolios alike and has succeeded with both! In this 300th episode of the Real Estate Rookie podcast, we catch up with past BiggerPockets guest, full-time real estate investor, and two-time best-selling author Rachel “Money Honey” Richards. After 2022 threw her several curveballs, Rachel made the tough decision to sell her thirty-eight-door real estate portfolio and start over. A nomad at heart, Rachel turned her attention to house hacking—a strategy that gives her a place to live while allowing her the freedom to travel six months each year. Whether you have one door or one-hundred doors, you won’t want to miss out on the important lessons Rachel shares in this episode! She talks about beating analysis paralysis, using a solutions-oriented approach when looking for deals, and when it makes sense to use multiple rental strategies at once. But that’s not all, we’ll also get into creative financing, choosing a real estate niche, finding the best contractors for rehab projects, and more! In This Episode We Cover How to build (or rebuild!) your real estate portfolio from square one Beating analysis paralysis by finding your real estate niche How to apply a solutions-oriented approach to analyzing deals Using multiple rental strategies to maximize your cash flow Networking to find the best lenders and contractors for your properties Leveraging creative financing to help fund your real estate 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 Retiring in 2 Years Through “Aggressive” Rental Property Investing with Rachel Richards Early Retirement by 30 with $20K/Month in (Actually) Passive Income Divorce: The Biggest Marriage and Money Mistakes to Avoid Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials 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 How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame Books Mentioned in this Episode: The House Hacking Strategy by Craig Curelop Money Honey by Rachel Richards Passive Income, Aggressive Retirement by Rachel Richards Connect with Rachel: Rachel's BiggerPockets Profile Rachel's Instagram Grab Your Free Passive Income Starter Kit Check the full show notes here: https://www.biggerpockets.com/blog/rookie-300 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want financial freedom? We’re not talking about buying yachts, private planes, or million-dollar sports cars. We mean REAL financial freedom. The freedom that lets you work where you want, when you want, and spend time with the ones that matter most, without having to worry about paying the bills or having enough in the bank to make ends meet. That’s what it means to be financially free. And today, we’re here to help you get even closer to achieving that dream. While Tony and Ashley are living their financially free lives, Dave Meyer, VP of Data and Analytics at BiggerPockets and host of On the Market, stopped by to give you the step-by-step guide to achieving financial freedom. In this episode, Dave will show you how to set goals for a financially free life, calculate your “freedom number,” choose a real estate market to invest in, find the right property, and analyze a real estate deal from scratch. You DON’T need to be an investing expert to start your journey to financial freedom. Unlock the tools expert real estate investors use daily by becoming a BiggerPockets Pro member. Get 20% off your first year of Pro if you use code “FREEDOM” at checkout and gain access to investment property calculators, lease documents, rent estimators, and more!  In This Episode We Cover The four steps to financial freedom and how to achieve ultimate independence through real estate investing Setting SMART goals and calculating your “freedom number” How to pick the right real estate market and two questions you MUST ask before you do Four ways you can start finding real estate deals TODAY  Analyzing a real estate deal LIVE (step-by-step) using the BiggerPockets calculators  What expert investors know that most real estate rookies don’t  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 Try the BiggerPockets Rental Property Calculator on Your Next Property Estimate Rent for ANY Property Sign Up for a BiggerPockets Bootcamp Hear Dave on The “On The Market” Podcast Wherever You Listen to Podcasts: Spotify Apple Podcasts BiggerPockets Watch Dave on the “On The Market” YouTube Channel Connect with Dave: Dave's BiggerPockets Profile Dave's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-299 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Losing $100K on one real estate deal!? Is there any coming back from that kind of loss? Unfortunately, real estate investing is not always sunshine and rainbows. Every successful investor has had their fair share of failures. By learning from some of our mistakes, our hope is that new investors won’t have to make them! Welcome back to another episode of the Real Estate Rookie podcast. Today, Ashley interviews Tony about one of his most recent deals that went south. Ultimately, Tony ended up losing a whopping $100K on the deal. This kind of loss would cause many people to throw in the towel and quit their real estate journeys. Instead, Tony ate the loss, learned some important lessons, and got back up on his horse. If you’re afraid of losing money on a real estate deal, allow Tony’s mental fortitude to encourage and inspire you to keep going! In this episode, he shares a handful of invaluable lessons—including why it’s so important to manage the timeline of a deal, why you should always take a pre-approval with a grain of salt, and how diversifying investments across different markets can help lower your risk! In This Episode We Cover Finding your real estate niche and building a strong financial foundation Managing the closing timeline (and saving a fortune in holding costs!) The importance of purchase agreements and earnest money deposits The subjectivity of appraisals (and when you should challenge them) Why you should NEVER treat a pre-approval as gospel What you should know before becoming a private money lender 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 Making $71K on ONE Deal After 5 Failed House Flips and Six-Figure Debt The Difficult Path to Wealth: Losing Money on Your First Real Estate Deal w/ JL Collins 4 Important Steps to Bounce Back After Losing Money on a Deal Check the full show notes here: https://www.biggerpockets.com/blog/rookie-298 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A house hack that covers all living expenses and allows you to travel the world!? Many people dream of making passive income from real estate, but only some take action. After getting her real estate license and immersing herself in the world of investing, today’s guest was chomping at the bit to buy her first property. In this episode, we’re speaking with Olivia Tati—a former chemical engineer turned nomadic real estate investor! After discovering the freedom and flexibility of working from home, Olivia quickly determined that she no longer wanted to work her corporate W2 job. Fortunately, she had spent months cultivating several side hustles and multiple streams of passive income. With this financial safety net in place, Olivia quickly turned her attention to real estate. It wasn’t long before she landed her first deal—a duplex that rents for up to $6,500/month and allows her to live out her nomadic dream! Do you aspire to earn enough passive income to quit your nine-to-five, work from home, or travel the world? This is the episode for you! Tune in to hear Olivia, Ashley, and Tony discuss a unique strategy to get a property under contract, various ways to buy real estate with no money down, and creating the perfect guest experience at your short-term rental. They also cover the benefits of getting a real estate license—whether it’s getting your feet wet before investing, saving money on closing costs, or making passive income through referrals! In This Episode We Cover How to get a property under contract (without having the most competitive offer!) Three advantages of getting your real estate license before investing How to earn thousands of dollars each month through real estate referrals Multiple strategies you can use to buy real estate with no money down When to make a rental property short-term, medium-term, or long-term The keys to providing a world-class guest experience at your short-term 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 House Hacking 101: What It Is and How to Get Started Create Eye-Catching Graphics for Your Real Estate Business Find and Manage Cleaners for Your Short-Term Rentals: Turno Breezeway Connect with Olivia: Olivia's Instagram Olivia's YouTube Check the full show notes here: https://www.biggerpockets.com/blog/rookie-297 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Let’s face it—property management fees aren’t cheap. While you may need to hire a property manager if you’re investing out of state or are unable to self-manage your property, these costs can quickly eat into your profits if you’re not careful. How can you ensure that you’re getting high-quality services for a fair price and keep your overhead under control? Welcome back to another Rookie Reply! If you’re struggling to pull the trigger on hiring a property management company, we understand why you might be hesitant. Fortunately, Ashley and Tony are here to shed some light on the topic and share their own experiences with property management companies. They also talk about insuring properties during the rehab phase, as well as buying pre-foreclosed properties. Finally, they discuss balloon payments—what they are, how to use them to your advantage, and when it may be risky to get a loan that has 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 find the BEST property management company for your rental Property management fees and how to keep costs down Why you MUST insure your property during the rehab phase How to use balloon payments to your advantage (and avoid more risk!) What you need to know before buying a pre-foreclosed 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 0 Doors, 100% Creative Financing with Pace Morby Rookie Reply: Loan Amortization and Balloon Payments Explained 8 Tips for Hiring the Best Property Manager for Your Rentals Check the full show notes here: https://www.biggerpockets.com/blog/rookie-296 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A $100K "exotic plant" side hustle to over $2 million in real estate? The truth is that you can use virtually any side hustle to help kickstart your real estate journey—whether you need capital to invest or want the extra business experience before diving in. While today’s guest may have taken a more unconventional approach to investing in real estate, he now has a portfolio of eight units cash flowing $4,500 each month! Welcome back to another episode of the Real Estate Rookie podcast! In 2021, when millions of Americans lost their jobs, corporate underwriter Paul Lee came to the realization that relying on his W2 as his only source of income was a risky bet. At a time when mandates were requiring more people to work from home, Paul started flipping exotic house plants for a HUGE profit—netting well over $100,000 in two years! Despite his success, Paul recognized the volatility of the business he had built and turned his attention to a more historically stable side hustle—real estate. If you’re looking to use a side hustle as your gateway into real estate, you’ll want to hear Paul, Ashley, and Tony share about the importance of having multiple income streams. They also cover several important real estate topics—from house hacking and self-managing properties to exceptions that could make you ineligible for FHA loans. Finally, they discuss private mortgage insurance and how to remove it when it’s hurting your cash flow!  In This Episode We Cover How to find side hustles with the highest earning potential The skills you NEED to self-manage your investment properties Using leverage to spread equity across more properties The self-sufficiency test your house hack MUST pass to get an FHA loan How to get private mortgage insurance removed from a loan When to pull a HELOC (and how to use the money!) 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 No Money for Real Estate? 2 Side Hustles You Can Use to Fund Your First Deal Compare Market Rents with Rentometer Connect with Coach Chad Carson on Instagram Connect with Paul: Paul's BiggerPockets Profile Paul's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-295 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t have enough funds for real estate deals? Today, there’s no excuse. Beyond strategies that allow you to invest in real estate with no money down, you can always start a profitable side hustle and put the earnings towards your next deal. In this episode of the Real Estate Rookie podcast, we’re chatting with Ava Yuergens and Josh Janus—two young entrepreneurs who managed to launch their own profitable side hustles to help fund their first real estate deals. Shortly after Ava and her fiancé launched their very own couch-flipping side hustle, they were able to generate enough cash to invest in real estate. Josh was a student by day, so he needed a side hustle that he could work outside of school hours. After seeing the schedule flexibility that DoorDash provided, Josh started making food deliveries—often using multiple apps and two phones to maximize his earnings. If you’ve ever wanted to start your own side hustle, this is the episode for you! You’ll learn how to launch your own successful side hustle from square one, sharpen your entrepreneurial skills, and generate more than enough income for you to put towards your first real estate deal. Finally, Ashley and Tony tie the bow on this showdown-style episode by evaluating these side hustles for upfront capital, earning potential, time commitment, and risk! In This Episode We Cover Two side hustles you can start TODAY with little to no money Using a side hustle to raise capital for your real estate business Launching a flexible DoorDash side hustle that earns up to $50 an hour Starting a couch-flipping side hustle that generates $10,000 per month Side hustle skills that carry over into the real estate world 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 $900K in Real Estate at Age 17 by Doing What 99% of Teenagers Won’t From DoorDasher to $1.5 MILLION in Real Estate (All at 22 Years Old!) Connect with Ava & Josh: Ava's BiggerPockets Profile Ava's Instagram Ava's TikTok Josh's BiggerPockets Profile Josh's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-294 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Too busy to buy rental properties? After this episode, you won’t have any more excuses. Brandon and Dani Tilson started building their rental property portfolio just under a year and a half ago and have already acquired six properties while working schedules that would make most people faint. We’re not talking about one job or two; we’re talking about working three jobs while raising a family and self-managing a rental portfolio. So, if you’re working less than eighty hours a week, this is your sign to get started!  After growing up with a struggling single mother, Brandon vowed that his children should never have to worry like he did. After learning about real estate, Brandon was ready to invest, but his wife, Dani, was not. Cash in the bank was a luxury Dani wanted to hold on to, but after many long conversations, the couple agreed to try their hand at rental properties. Their first deal didn’t go as planned, but it helped them build momentum and turn a small sum into a cash-flowing rental portfolio. In this episode, you’ll hear exactly how Brandon and Dani scaled to six units in just a year and a half, the property management software they use to run their portfolio painlessly, and how to get your spouse on the real estate investing bandwagon. Brandon and Dani are set to retire in just five years, and if you tune in, you can too! In This Episode We Cover Building a rental property portfolio that will allow you to retire in five years (or less) Why you should NOT try to DIY your first rental property renovation  What to do when you want to invest but your spouse or partner isn’t interested  Cash-out refinances vs. HELOCs and which makes more sense with today’s high-interest rates  Property management software and how to run a rental portfolio without pulling your hair out “Alignment meetings” and how to conquer your craziest goals even with a hectic schedule  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 Analyze Your Own Deals Using the BiggerPockets Rental Property Calculator Manage Your Property with RentRedi Hear Our Interview with Husband and Wife Investing Duo Devana and Reid How to Easily Analyze Rental Properties Connect with Brandon & Dani: Brandon & Dani's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-293 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to pay ZERO taxes next year? If you own real estate or are building a portfolio, there’s a good chance that you can legally keep your profits away from Uncle Sam. But you’ll need one thing before you can do so. Our own Tony Robinson plans on using this exact strategy to pay $0 in taxes for this most recent tax year. So, why aren’t all real estate investors doing this? And where do you find the income-tax-free-genie who can help you make your tax burden magically disappear? It’s Saturday, so a new Rookie Reply is headed your way. This time, Ashley and Tony will touch on mitigating MASSIVE tax amounts using this particular service. Next, what can real estate partners expect when one party puts up the money, and the other puts up the work? For the debt-free disciples, you’ll hear about using a credit card for a down payment and when you know you have TOO much real estate debt. If you want to grow your passive income, pay fewer taxes, and ensure your mortgages ALWAYS get paid, stick around! 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 (legally) eliminate income tax when investing in real estate  Down payments and why you (probably) won’t want to use a credit card to fund yours  Real estate partnership responsibilities and what a money partner’s roles are  Listing your own property for sale by owner (FSBO) vs. using a real estate agent  Rental property debt and what to do when tenants refuse to pay rent  The one question you need to ask a realtor that could lead to a reduced commission fee  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! Rich Dad’s CPA Shares 5 Steps to Eliminate Income Taxes through Real Estate How to Buy Real Estate with Your Credit Card How Much Do You Need For A Down Payment On A House? Check the full show notes here: https://www.biggerpockets.com/blog/rookie-292 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Who knew living for free could be as simple as house hacking and renting rooms out to a few college friends? Today’s guest was able to generate enough monthly income from his first real estate deal to cover his mortgage payment each month—and then some! Welcome back to another episode of the Real Estate Rookie podcast! Ryan Hughes’ real estate investing journey started at the age of fourteen, when his father allowed him to go in on a real estate deal. Naturally, Ryan was ready and eager to start investing in his own rental properties by the time he graduated from college. Within months, he had bought his first investment property, one he conveniently spotted while jogging around his neighborhood. Shortly after closing, Ryan had seven people living in the house and paying rent to fully cover his mortgage payment, utilities, and more. If you’re interested in living for “free” and attaining financial freedom, you’ll want to hear what Ryan has to share about house hacking, building your real estate network, and how to keep the peace with other tenants. As always, Ashley and Tony have some invaluable insights to share as well—from leveraging debt the right way to finding the best home loan products! In This Episode We Cover How to live for FREE by house hacking and renting out rooms Managing tenants when they live with you (and share your stuff!) Identifying housing markets where cheap properties will appreciate Tapping into a real estate agent’s network and leveraging their connections Using an inspection report to your advantage before closing on a property How to find a home loan that benefits both the buyer and seller 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 Analyze Your Own Deals Using the BiggerPockets Rental Property Calculator Living for “Free” with 63 Self-Storage Units Follow Ana Karina on Instagram for Real Estate, Tax, and Bookkeeping Advice Connect with Ryan: Ryan's YouTube Ryan's TikTok  Check the full show notes here: https://www.biggerpockets.com/blog/rookie-291 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to know how to use your home equity to buy your next rental? You could be sitting on tens of thousands in potential funds that’ll make saving for the down payment MUCH easier. But first, you’ll need to know how much equity you have, the amount you can pull out, and whether or not a HELOC (home equity line of credit) is even worth it. So, if you’re itching to get your next deal faster, stick around! Ashley and Tony will give you the info you need to take your money and multiply it! Welcome back to this week’s Rookie Reply, where Tony wears a hat! Aside from covering up that beautiful bald head, Tony and Ashley have some solid tips for anyone looking to buy a property with tenants in place, debating the value of a whole house HVAC system (heating, ventilation, and air conditioning), or putting up the pros and cons of private lenders vs. bank loans. You’ll learn the many ways to cool your house, how to confirm rent payments before you buy a home with inherited tenants, and how to make passive income by private lending! 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 HELOCs (home equity lines of credit) and using one to buy your next property HVAC systems vs. window units and which demand higher rent prices  How to make completely passive income by becoming a private money lender Raising capital vs. taking a bank loan and why big investors ALWAYS raise money How to confirm rent payments BEFORE you buy a property with tenants in place 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 Sign Up for BiggerPockets Pro to Get Lawyer-Approved Lease Agreements: BP Pro Lease Agreements Connect with Other Investors on the BiggerPockets Forums Submit Your Real Estate Rookie Question! How to Buy a Rental Property with NO Money OR Credit w/Pace Morby Follow Rachel Richards (MoneyHoneyRachel) on Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-290 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A glamping site might sound like a fun real estate investment idea, but how feasible is it? Does it offer enough cash flow potential as a short-term rental property? How do you get a building permit for a unique structure like a geodesic dome!? Today’s guest managed to launch the very first glamping site in his area and make some killer cash flow, but not without jumping a few hurdles along the way. In this edition of the Real Estate Rookie podcast, we pick the brain of award-winning music producer Garrett Brown, who first decided to get into real estate because of the schedule flexibility it offered. After starting out as a realtor and spending time around investors, Garrett’s eyes were quickly opened to the huge earning potential of investing in real estate. Using the capital he generated from a house flip, Garrett was able to get into the short-term rental space—combining his newfound passion for real estate with his background in hospitality. Today, he talks about his most recent acquisition—a three-door glamping site sandwiched between two regional attractions outside Houston, Texas. If you’re looking to buy your first short-term rental property, you won’t want to miss out on all that Garrett, Ashley, and Tony unpack in this episode! They’ll discuss their favorite ways to estimate rehab costs, how to find the perfect market for your short-term rental, and the importance of delivering a first-class guest experience as an Airbnb host! In This Episode We Cover Garrett’s massive cash flow on a unique “dome” vacation rental  Several creative ways to estimate rehab costs for a house flip Finding the perfect market for a short-term rental property Important hospitality tips that will make you a top short-term rental host Glamping sites, geodesic domes, and other unique short-term rental ideas! How to underwrite unique properties (and get your county to give you a permit!) 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 Use the BiggerPockets Calculator to Estimate Your Earning Potential Try Lodgify for Your Short-Term Rental Management Needs Book Mentioned in the Show: The Book on Estimating Rehab Costs by J Scott Connect with Garrett: Garrett's BiggerPockets Garrett's TikTok Garrett's YouTube Garrett's Glamping Operation on Instagram Garrett's Glamping Operation on Tiktok Garret's Glamping Operation on YouTube Check the full show notes here: https://www.biggerpockets.com/blog/rookie-289 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want a better rental property loan? You’ve probably tried talking to banks, brokers, and residential lenders about growing your real estate portfolio, only for them to hit back with W2, income, and credit score requirements. Is there a loan that gets around these conditions for those that are hard to fund? What if you have a rock-solid real estate deal but no nine-to-five income to show to a bank? Well, there’s one type of funding you’ve probably never heard of, and real estate investors nationwide are starting to take advantage of it. We’re back with another Rookie Reply as Ashley and Tony embark on an emotional journey down eviction lane, discussing what to do when bad tenants stay in your property and how to ensure it never happens again. But that’s not all; Ashley and Tony bring their tenant red flags that ANY landlord should know about when interviewing potential renters. They’ll also touch on subject to, seller financing, and other creative ways to fund your real estate deal, plus why you should (or shouldn’t) buy a historic home. Finally, you’ll hear about the investor-only loan so many people are using to grow their portfolios even faster! If you want Ashley and Tony to answer a real estate question, you can 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 one rental property loan that big-time investors are using to multiply their portfolios  Evicting a tenant and how to recover rent payments that you’re owed Tenant screening tips and red flags you should look out for when interviewing tenants Creative financing and how seller financing and subject to deals create win-wins for buyers and sellers Buying in a historic district and the grants and tax advantages you may be entitled to for doing so 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 Real Estate Rookie Podcast 280 with Pace Morby Real Estate Rookie Podcast 538 with Katie Neason DSCR Loans: What Are They And How To Get The Best Terms The Ultimate Comprehensive List of Tenant Red Flags Book Mentioned in the Show: Wealth without Cash by Pace Morby Check the full show notes here: https://www.biggerpockets.com/blog/rookie-288 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A 36% return on your FIRST rental property? In today’s housing market? That sounds almost impossible. With more and more inventors struggling to find a cent of cash flow and home prices still so high, how does a real estate rookie walk away with a deal most investors could only dream of? The answer lies within Danielle Daly’s strategy, and it’s one that most people would be too picky to repeat. But, if you have the ingenuity to do what she did, you could live for free in an expensive market, collecting some killer cash flow every month. Before this cash cow of a deal, Danielle was a burnt-out hospitality worker who quit her seventy-hour work weeks to make $30,000 per year as a waitress. She wanted the pay of a nine-to-five, without the soul-crushing time commitment so many jobs expect. So, she left sunny Florida on a whim, and headed to snowy Denver, only to end up at…BiggerPockets. She couldn’t resist the real estate bug and got her sights locked on her first property. Danielle spent months looking for the right layout, at the right price, with the cash flow potential she needed. Half a year or so later, she looks back on her first purchase as one of her best financial decisions ever. In this episode, you’ll hear how Danielle turned $30,000 into a half-a-million-dollar property in a pricey market, how she gets paid to live in her own house, and the one thing that helped her achieve investing success faster than the rest. In This Episode We Cover How Danielle makes a 36% return on her first rental (with ZERO experience) The one strategy ANYONE can use to buy a cash-flowing rental property with low money down Ditching burnout and how to know it’s time to leave your job for something better Networking for newbies and how to find lenders, realtors, and tenants  Seller concessions and letting someone else “buy down” your mortgage rate  Screening tenants and the one software that systematizes your 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 Meet Other Investors At a BiggerPockets Meetup Get Easy Property Management with RentRedi How to House Hack By Renting-By-The-Room Connect with Danielle: Danielle's BiggerPockets Profile Danielle's Email Danielle's Instagram   Check the full show notes here: https://www.biggerpockets.com/blog/rookie-287 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Using your real estate business to fund your DREAM vacation—with all or most expenses paid!? As a real estate investor, handling large amounts of money for materials, rehabs, and other expenses has its benefits. Today, we’re excited to talk about a simple but clever debt strategy that real estate rookies often overlook. Welcome back to another Rookie Reply! If you’re looking to take advantage of the many benefits of real estate investing, tune in as Tony and Ashley share how they use credit cards to travel hack their way to luxurious, five-figure vacations each year! We also talk about when you should and shouldn’t use a HELOC to help fund an investment property. Ever wondered how you should use the money from cash-out refinancing? Our hosts cover some of the limitations you may encounter. Finally, Ashley and Tony discuss their top investing analysis strategies in 2023 and how to choose the best one for you! If you want Ashley and Tony to answer a real estate question, you can 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 leverage real estate debt the right way (and fund your DREAM vacation!) When you should and shouldn’t use a HELOC for an investment property New investing analysis strategies we’re using in 2023 Why you should say “no” more often than “yes” when choosing an investing strategy All about cash-out refinancing (and what you can use the money for!) How to find the best investor-friendly real estate agents in your area 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 How to Earn Free Vacations With Travel Rewards Credit Cards Find Top Rewards Credit Cards with The Points Guy Learn More About Travel Hacking with Aunt Kara on TikTok Book Mentioned in the Show: Real Estate by the Numbers by J Scot and Dave Meyer Check the full show notes here: https://www.biggerpockets.com/blog/rookie-286 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Buying your first long-term rental property sight unseen? What could go wrong? While alarms might be going off in your head right now, they weren’t for today’s guest. What seemed like the “perfect” rental property turned into a major headache once he arrived to check it out four months after closing. Welcome back to another episode of the Real Estate Rookie podcast! After completing multiple wholesale deals, Hudson Jump’s real estate investing journey was off to a blazing start. He figured it was time to try his hand at long-term rentals next, and it wasn’t long before he came across a potential cash cow! Unfortunately, when Hudson was finally able to check out the property he had bought, the door had been kicked in, there was trash up to the ceiling, the toilet and shower were missing, and there were squatters on the property! While this nightmare scenario would have been enough to make any real estate rookie throw in the towel, Hudson instead found a partner who was able to help him salvage the property and transform it into a rental that generates $1,400 monthly cash flow! If a bad deal has ever caused you to question your future in real estate, tune in to hear Hudson speak on the advantages of partnerships. As always, our hosts Ashley and Tony are here to help as well—offering invaluable advice on buying properties sight unseen, leveraging direct mail, and the value of building lists! In This Episode We Cover The risks of buying a property sight unseen with existing tenants How bringing an experienced partner on board can help salvage a bad deal Why wholesaling is GREAT first step for new real estate investors The differences between wholesaling and whole-tailing Building lists to weed out bad leads and keep track of potential properties Leveraging direct mail to find exclusive wholesale deals And So Much More! Links from the Show Find an Agent Find a Lender Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Propstream Making $71K on ONE Deal After 5 Failed House Flips and Six-Figure Debt BiggerPockets Forums Create Your Own Standard Operating Procedures (SOPs): Record Videos with Loom and Use Monday’s Free SOP Template Alex Camacho's Instagram Connect with Hudson: Hudson's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-285 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Still waiting to buy your first rental property? Everyone’s been there. It can be nerve-racking not knowing where to buy, what makes a “good deal,” and whether or not all your hard work will go to waste. Even investing experts like Ashley and Tony were nervous about taking their first step, which is exactly what they’ll walk through on today’s episode! If you’re a rookie sitting on the sidelines, waiting to get into real estate, this is the episode for you! Welcome back to another Rookie Reply! In this episode, we share exactly how to close an off-market deal when there’s no real estate agent involved. Ever wondered how our hosts went from real estate rookies to real estate pros? Today, they share their first deal diaries. Learn how Ashley ended up buying the first property she EVER looked at and how Tony bought his first two properties with ZERO money down. Finally, we touch on the struggles of analyzing deals when you’re just starting out, as well as choosing the right insurance policies for short-term rentals! If you want Ashley and Tony to answer a real estate question, you can 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 close an off-market deal with no real estate agent involved Key takeaways from our hosts’ very first real estate deals Landing your first real estate deal (with as little as NO money down!) How to analyze a property and know when you’re getting a GREAT deal! The differences between renters and homeowners insurance (and which one you need) The best ways to insure a short-term rental (STR) property And So Much More! Links from the Show Find an Agent Find a Lender Join the Real Estate Rookie Facebook Group Join BiggerPockets for FREE BiggerPockets Rental Calculator 2 Long-Distance Rentals with $0 Down with Tony Robinson Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert How to Buy a Rental Property with NO Money OR Credit Get Competitive Insurance Options for Your Short-Term Rental: BiggerPockets, Steadily and Proper Insurance Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-284 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Over $1 million in real estate with $0 down—at 19 years old!? After reading the book Rich Dad Poor Dad and catching the real estate “bug,” today’s guests went from broke college dropouts to real estate investors with three multifamily properties to their names in a matter of months. In this edition of the Real Estate Rookie podcast, we’re speaking with real estate duo Caleb Hommel and Chuck Sotelo. After his parents dealt him a six-month ultimatum to figure out real estate and move out, Caleb knew he needed to land a deal fast. The issue? These two friends had very little money, and at just 19 years of age, no credit history. Facing a seemingly impossible challenge, the pair went to work—calling roughly 1,000 different real estate brokers in pursuit of their big break. Finally, the right opportunity came knocking. Today, Caleb and Chuck own properties in three different Texas markets for 28 total units. If you have yet to land your first real estate deal, whether it’s because you don’t have money to invest or you haven’t found the right market, you don’t want to miss today’s episode. Tune in as we talk about how to buy real estate with no money down, how to build your buy box, and how to find the best property management companies to take care of your out-of-state assets! In This Episode We Cover How to invest in real estate with no money down (and no credit!) The benefits of forming a partnership (and why you need an operating agreement) Dodging the traditional underwriting process through seller financing How to find the right buy box for you and knowing what to invest in Finding, vetting, and overseeing property management companies Why you NEED a mentor (and how they can help you beat analysis paralysis) And So Much More! Links from the Show Find an Agent Find a Lender Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow How to Buy a Rental Property with NO Money OR Credit 81 Units in 3 Years: All On-Market with NO Bank Loans w/Cody Davis Book Mentioned in This Episode: Rich Dad Poor Dad by Robert T. Kiyosaki Connect with Caleb and Chuck: Caleb's BiggerPockets Profile Caleb's Instagram Chuck's Instagram Caleb and Chuck's Youtube Channel Check the full show notes here: https://www.biggerpockets.com/blog/rookie-283 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

How important is the real estate market you’re investing in? You could be searching for deals for months, not finding anything worth buying, and may want to call it quits. But are you following the same steps that expert investors practice, or are you hoping a new housing market will magically give you the deals you need? If you’re struggling to find property with a profit in your housing market, today’s episode will help you out! Welcome back to another Rookie Reply! In this episode, we tackle a handful of key topics—including when it makes sense to buy a property on your own and when to find a partner instead. Tony even shares about his own recent experience with partnerships and how he ended up pulling out of a deal that was headed towards a syndication! We also discuss the differences between real estate investing and REITs, as well as moving on from markets when you aren’t finding deals. Finally, we talk about inheriting tenants and when it’s better to buy a fully vacant property instead! If you want Ashley and Tony to answer a real estate question, you can 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 to go solo on a deal and when to form a partnership LLC operating agreements, joint venture agreements, and terms you MUST include Strategies behind buying vacant properties or inheriting tenants The difference between active real estate investing and REITs Leveraging relationships to find the best markets to invest in And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Find an Investor-Friendly Lender Join the Real Estate Rookie Facebook Group Join BiggerPockets for FREE Become a BiggerPockets Pro Member for Premium Market Analysis On The Market Podcast Sign Up for a BiggerPockets Bootcamp Rookie Reply: How to Structure a Real Estate Partnership Rookie Reply: How to Split Finances in a Partnership/Joint Venture Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-282 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

How do you bounce back after waiving inspections, finding out your $100K rehab costs are actually $360K, losing your earnest money deposit, and ultimately having to walk away from your very FIRST real estate deal? Today’s guest had a rocky start to his real estate investing journey (to say the least!), yet was able to find the silver lining, learn from his mistakes, and turn his bad fortunes around. In this episode of the Real Estate Rookie podcast, we’re speaking with Michael Yi, a “retired” pastor who turned to real estate after struggling to find work during the pandemic, dealing with minor health challenges, and reading the ever-popular Rich Dad Poor Dad. After his first deal fell through, however, his confidence took a hit. While any rookie would be tempted to give up, he got back on the horse and set out to find his next deal. Within a week, he received a call from a wholesaler that would thrust him right back into the world of real estate investing. This time, the deal was fruitful, allowing him to generate consistent cash flow on a three-unit rental property. If you’re struggling to take the first step in your real estate investing journey for fear of failing or losing money, this is an episode tailored to you! Michael shares about the $10K “education” he received and the reward for his resiliency. With help from our hosts Ashley and Tony, we break down a handful of important topics—including HELOCs, cash-out refinances, and building your real estate network! In This Episode We Cover Having a deal fall through and losing money (and how to bounce back!) How waiving inspections can get your offer accepted (and when it can hurt you!) When walking away from a deal is actually the SMART choice The pros and cons of HELOCs versus cash-out refinances in different markets The power of networking to find contractors, realtors, wholesalers, and other connections And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE BiggerPockets Bootcamp BiggerPockets Bookstore Privy BPCON2023 How to Buy a Rental Property with NO Money OR Credit Pace Morby's Instagram Book Mentioned in This Episode: Real Estate Rookie: 90 Days to Your First Investment by Ashley Kehr Rich Dad Poor Dad by Robert T. Kiyosaki Connect with Michael: Michael's BiggerPockets Profile Michael's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-281 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Everyone wants to know how to invest in real estate with no money. And surprisingly, it’s much more straightforward than people think. You don’t need to be a real estate investing expert or have dozens of units under your belt already to buy a rental without cash or credit. As Pace Morby puts it, all you need is the right tools in your tool belt. The rest will take care of itself! So stick around if you want to learn how Pace picks up properties with NO money down, NO credit checks, and NO cash at closing! Pace is known in the industry as the king of creative finance. No matter what real estate deal he’s doing, Pace has found a way to get it for no money down, at a low interest rate, and with lots of cash flow in between. His latest book, Wealth Without Cash, gives new investors a start-to-finish guide on getting deals done with subject to, seller financing, and other lucrative creative finance methods. This is THE resource you need if you’re starting your real estate journey without much cash. In this episode, Pace walks through the different methods you can use to invest without cash, the exact way to find motivated sellers and off-market deals, and how to start with NOTHING and get your first investment property under contract. He also shares how he does deals on the spot and why going the “conventional” route of finding an agent, getting a loan, and putting money down could be a HUGE mistake. In This Episode We Cover Creative finance explained and how to invest in real estate with NO money down On-market vs. off-market deals and how to lock in a rock-bottom mortgage rate The subject to and seller financing methods explained (and when to use them) Living income-tax-free and how Pace avoids income tax by investing in real estate Starting from ZERO and a step-by-step method to getting your first deal done The problem with most real estate agents and why creative finance is often unheard of And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE BiggerPockets Bootcamp Craigslist Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials PropStream Book Mentioned in This Episode: Wealth Without Cash by Pace Morby Connect with Pace: Pace's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-280 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Feel like you’ve already made a few blunders to kick off your real estate investing journey? Well, you’re in great company. Most real estate rookies make their fair share of investing mistakes right before they figure things out and go on to build successful investing careers. Today’s guests are living proof of this. After a series of failed house flips (including one that involved his family home!) put him behind the eight ball, JP Desmet’s real estate career was almost over before it had even begun. As with all great success stories, however, his next step was his most important one—he asked for help! After reaching out to seasoned real estate pro Aaron Bihl about a potential investing opportunity, JP was able to make a serious profit off his very next deal and ultimately turn around his real estate fortunes. JP’s story is one of pure grit and mental fortitude. Rather than throwing away his dreams of real estate investing, his willingness to not only fail but also learn from his mistakes allowed him to bounce back in no time. If you’re a fellow real estate rookie, you won’t want to miss JP and Aaron talk about their first house flip fails, how hiring a bad contractor can quickly derail a project, and how working with a mentor can turn your very next deal into a huge success! In This Episode We Cover How a mentor can help you avoid all types of investing headaches The biggest red flags to watch out for when hiring a contractor Where to find the best contractors for your home rehabs Getting in and out of deals quickly in today’s market Finding hard money and private money lenders Ways to mitigate the effects of debt you take on during the buying process And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Find a Hard Money Lender Steve Rozenberg Instagram Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1 How Drew Pulled 6 Deals From His First Direct Mail Campaign With Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 2 Craigslist Facebook Groups Connect with JP and Aaron: JP's BiggerPockets Profile JP's Instagram Aaron's BiggerPockets Profile Aaron's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-279 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A FSBO (For Sale By Owner) seller wants to move forward with your offer—that’s great news! But first, they have asked you to pull comps (comparable sales). Believe it or not, this is something you can use to your advantage. Of course, you’ll need to know where to find comps and how to estimate rehab costs so that you can defend your offer. Thankfully, Ashley and Tony are back with some of their best tips yet. Welcome back to another Rookie Reply! Negotiating a FSBO sale can be a little intimidating, but our hosts are here to help you navigate the entire process. In this episode, we also discuss and compare real estate financing options, from conventional mortgages to portfolio loans. We even weigh the pros and cons of personal debt versus commercial debt. Struggling to find a tenant for your rental? You’ll want to hear what we have to say about lowering rent prices, as well as other steps you can take to fill your vacancy and improve your cash flow immediately! If you want Ashley and Tony to answer a real estate question, you can 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 need to get approved for a commercial real estate loan How to structure your first real estate investing partnership The pros and cons of taking on personal mortgage debt instead of commercial debt The best ways to estimate rehab costs When you should consider lowering rent prices to fill a vacancy How to find sales comps for a FSBO property (or any property!) you’re buying And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Join BiggerPockets for FREE 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 Propstream Zillow BiggerPockets Bookstore MLS Realtor.com Real Estate Rookie Youtube Channel Book Mentioned in This Episode: The Book on Estimating Rehab Costs by J Scott Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-278 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

You don’t need to look very far to find a real estate success story, but it’s not every day that you hear from someone who is currently in the trenches of their very first real estate investment. The truth is that there are all types of hurdles to overcome during an investing journey, and today, you’re going to hear from someone who is still in the thick of it. For years, interior designer Sara Plaisted dreamed of investing in real estate. But like many real estate rookies, analysis paralysis prevented her from taking action. Having built up a network of people to lean on, however, Sara eventually drummed up the courage to dive in. It wasn’t long before she landed her very first property—a two-story cabin tucked away in four-seasons vacation spot Julian, California. Unfortunately, the story doesn’t end there. Rather than enjoying consistent cash flow and great tenants, Sara was dealt a steep learning curve that involved persistent water leaks, excessive rehab costs, and other issues. If you’re struggling at any point in your real estate journey, you’ll want to tune in to this episode and hear Sara’s story. She shares about her initial fears surrounding real estate, how she was able to land her first deal, and how she is currently dealing with all of the unexpected hurdles that her new property has thrown her way! In This Episode We Cover How to get past analysis paralysis and finally buy your first property The importance of building your own real estate investing network Finding the right contractor to walk your new property with you When you should ask the seller to make repairs rather than making them yourself Three types of software you MUST have to manage your property How using virtual assistants can help you scale your investing business much faster And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE BiggerPockets Forums BiggerPockets Bootcamps Property Management Software for Short-Term Rentals: Hospitable, Guesty, OwnerRez Dynamic Pricing Tools for Short-Term Rentals: PriceLabs, AirDNA, Wheelhouse Digital Guidebooks for Short-Term Rentals: Create on Canva, Hostfully, Breezeway, RemoteLock Software for Long-Term Rentals: RentRedi, Avail, Apartments.com, Zillow Software for Scaling Long-Term Rentals: AppFolio, Buildium, Propertyware Find Virtual Assistants at: Fiverr, Upwork Books Mentioned in This Episode: Real Estate Rookie: 90 Days to Your First Investment by Ashley Kehr Connect with Sara: Sara's BiggerPockets Profile Sara's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-277 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Learning how to get into commercial real estate investing seems like a challenging task. With so much industry-specific verbiage and vocabulary like cap rates, pro formas, NOI, triple net, and more, a rookie real estate investor can seem put off by the seemingly tricky world of commercial real estate. But what if we told you that finding, buying, and making money from commercial real estate was much easier than residential real estate? What if you could build wealth quicker, buy more valuable properties, and reach financial freedom faster with just a few deals instead of dozens of single-family homes? Today, we’ll show you how to get started! New investors often put commercial real estate on the back burner, but nothing stops you from buying a large property right now. To explain how to do it, we brought on Annie Larner, commercial real estate broker based in Northern Colorado. She’s seen everything from warehouse deals to self-storage, retail centers, and office spaces. She knows EXACTLY what a beginner can do to get in the game and why commercial may be a FAR better option than going down the residential route. In this episode, Annie will explain exactly what commercial real estate is, how it’s valued, and the different types of properties you can buy. She also goes in-depth on why it’s MUCH easier to purchase commercial real estate than residential and how using a broker can help unlock hidden deals that other investors aren’t aware of. So, if you’re still chasing small deals and want to level up to where the real money is made, stick around! In This Episode We Cover Commercial vs. residential real estate and why buying bigger properties is easier Using a commercial real estate broker to find deals that no one else knows about How to analyze a commercial real estate deal and pro formas explained Due diligence, inspections, and what to do once you have a property under contract Cap rates, NOI, and how to value a commercial real estate property  The BEST property type for beginners with the most gradual learning curve How to find commercial tenants, lease types, and zoning rules you MUST pay attention to And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram CatyList CoStar Crexi MLS Mojo Dialer Real Estate Rookie Facebook Group Loopnet Realtor.com Zillow Connect with Annie: Annie's Email Annie's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-276 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Owning multiple properties with no money? While it might sound ludicrous, there are several ways to do it. Money shouldn’t be the barrier preventing you from getting into the world of real estate investing. In fact, many people have been able to turn around their own fortunes by using other people’s money (OPM)—today’s special guest is one of them! In this episode, we chat with Mike Larson, who found himself in this type of situation only a few years ago. Trapped in over $40,000 of consumer debt and living paycheck to paycheck with zero savings, Mike decided that real estate was going to be his escape rope. Over the next year, he eliminated as many bills as possible, tracked all of his expenses, and worked tirelessly to supplement his W-2 income. Today, Mike owns four long-term properties, has amassed a multiple six-figure net worth, and lives the real estate rookie’s dream by the beach. Tune into this episode for a classic, feel-good, rags-to-riches story. Mike shares about his real estate investing journey and provides all kinds of helpful tips—including the steps you need to take to fast-track your real estate career, how to use other people’s money to secure your first investment property, and how to get private money lenders to come to you! In This Episode We Cover How to get your first investment property with ZERO capital How identifying as a real estate investor can yield all types of opportunities Wholesaling for a huge profit without spending any of your own money Bringing value to private money lenders so that they come to you Using the BRRRR strategy to generate cash flow from distressed properties Two steps you MUST take today to fast-track your real estate career And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb BiggerPockets MLS Mojo Dialer Real Estate Rookie Facebook Group The Real Estate Podcast $900K in Real Estate at Age 17 by Doing What 99% of Teenagers Won’t Real Estate Rookie Podcast Book Mentioned in This Episode: Investing in Real Estate with No (and Low) Money Down by Brandon Turner Connect with Mike: Mike's Instagram Valiant Acquisitions Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-275 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

You’re buying a rental property and, in the process, inheriting tenants. What now? Can you go ahead and start raising rent? Not so fast. Before making any rash decisions, you might want to implement tenant estoppel agreements. These legally binding documents will help you and your tenants get on the same page. And Ashley and Tony are here to break them down! In this edition of Rookie Reply, we talk about the best practices when inheriting tenants. We also touch on LLCs, umbrella insurance, high-limit liability policies, and other ways to protect yourself. For those who are looking to buy a new home, we discuss working with a realtor versus doing the legwork yourself. We also get into loans, how soon you should get pre-approved, and how to vet hard money lenders. Finally, we talk about property managers. What are their fees, what do they bring to the table, and when do you absolutely need one? If you want Ashley and Tony to answer a real estate question, you can 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 it’s time to hire a property management company versus doing the work yourself Inheriting tenants, raising rent, and why you MUST use estoppel agreements How to close on an investment property without a realtor Finding and vetting hard money lenders in your area Why you should get pre-approved for a loan sooner rather than later in your investing journey The costs and benefits of creating an LLC versus umbrella insurance And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Join BiggerPockets for FREE BiggerPockets Forums Find a Hard Money Lender in Your Area Reduce Your Risk, Use An Estoppel Agreement (Free Form Included) Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram  Check the full show notes here: https://www.biggerpockets.com/blog/rookie-274 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Over $100,000 from medium-term rentals…in just 18 months?! It’s a pipe dream to many, but it’s reality for today’s guest. After connecting with a few colleagues about real estate investing, David Rosenbeck left his established career as a nurse practitioner to dive headfirst into the investing world—carving out a niche that married his former job with his newfound passion: medium-term rentals for traveling nurses. David and his wife bought their first rental property, and within 24 hours of going live, it had booked nine months out. The rest is history. David has since replaced his six-figure income with this flexible job that allows him to work fewer hours, stress less, and build the dream lifestyle for him and his family. If you’re afraid that short-term rental properties are difficult to manage or that long-term properties don’t generate enough monthly income, this is the episode for you. David shares all of the secrets that helped him earn over $100,000 in only 18 months from medium-term rentals. He touches on pitching Airbnb arbitrage to landlords, moving every 12 months to build your real estate portfolio faster, and finding the “misfit” properties that make the PERFECT rentals! In This Episode We Cover The advantages of medium-term over short-term and long-term rentals How to find the best areas to invest in medium-term rental properties Profiting without owning a property and using Airbnb arbitrage when renting to traveling nurses Moving every 12 months to get a lower down payment on new properties Finding the “misfit” properties that make the BEST medium-term rentals The best places to find medium-term tenants for your rental properties And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA BiggerPockets BiggerPockets Calculators Facebook Group Furnished Finder MLS PriceLabs Real Estate Rookie Facebook Group Real Estate Rookie Podcast Real Estate Rookie Youtube Channel The Real Estate Podcast Vrbo Will Your Area Work for Medium-Term Rentals? Zillow Connect with David: David's BiggerPockets Profile David's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-273 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

While driving for dollars, you stumble across a property with back taxes on it. What do you do? Contact the owner about your interest? Check with the courthouse first? Of course, you don’t want to make a real estate faux pas and miss out on a great deal! Fortunately, Ashley and Tony are here to help you navigate the situation. Welcome back to another Rookie Reply! Today, we’re addressing properties with tax liens and how to potentially get them below market value. We also talk about buying property as a real estate agent and putting your commission towards a down payment. If home renovations are on your radar, you’ll want to tune in to our discussion on estimating rehab costs and pulling permits. Lastly, you’ll learn about tax strategies for flippers, and why hiring a tax planner is a must, even if you’ve yet to buy your first property! If you want Ashley and Tony to answer a real estate question, you can 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 Buying a property with back taxes on it and where to find tax lien properties How to get paid TWICE by wholesaling a property to yourself Estimating material and labor costs before you commit to a renovation The best tax strategies for flippers (and why you need a tax planner!) Whether you can work closing costs into an FHA loan and low/no down payment loan options Why pulling permits is a MUST if you plan on doing a rehab, renovation, or house flip And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Join BiggerPockets for FREE 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 BiggerPockets Forums How to Legally Avoid Taxes by Investing in Real Estate From Restaurant Waiter to 100+ Deals in Only 4 Years w/ Derrick Acuff Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow Propstream Zillow Book Mentioned in This Episode: The Book on Estimating Rehab Costs by J Scott Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-272 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

$900K in real estate at age 17!? That can’t be possible! If you’re feeling shocked, join the club because today’s episode is something that’ll leave you more fired up than ever before. We talk to Ava Yuergens, a high schooler who’s purchased more real estate than most full-grown adults. Without the ability to even get a credit card of her own, Ava has taken down almost a million dollars in real estate, all thanks to creative financing, hard work, and a determination to build wealth no matter what. Want to repeat her road to success? Stick around! Like most young entrepreneurs, Ava caught the cash flow bug after reading Robert Kiyosaki’s Rich Dad Poor Dad. This classic book opened her eyes to the world of income-producing assets, catapulting her toward the topic of real estate investing. She was up early before school, reading how to invest, where to find off-market deals, and how to finance a property when you have no full-time income. With some thoughtful planning and serious due diligence, Ava was able to close on not one but two rental properties before graduating high school. And whether you’re fifteen, twenty-five, or fifty, Ava’s advice is useful for ANY real estate investor in ANY stage of life. She walks through exactly how to find your first real estate deal, getting comfortable with an investing strategy, bringing in partners and funding (when you don’t have the cash), and turning your small side hustles into massive streams of income. With this type of mindset, we know we’ll be hearing back from Ava very soon. In This Episode We Cover How to invest in real estate at a young age with no job or credit  Ava’s step-by-step checklist for getting your first real estate deal  Serious side hustles and using part-time work to fund future real estate deals Real estate partnerships and how to split responsibilities when buying a property How to find off-market deals, cold-calling, direct mail, and getting properties at a discount Short-term rental investing and why most rookies choose self-management over third-party property management And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb BiggerPockets MLS Real Estate Rookie Facebook Group Alpha Geek Capital BiggerPockets Calculators Google Drive Guesty Robuilt Youtube Channel The Real Estate Podcast Vrbo Check Out Tony’s Messaging Guide for Short-Term Rentals 18 Deals in 2 Years AND a Full Time Job with Kevin Christensen Books Mentioned in This Episode: Rich Dad Poor Dad by Robert T. Kiyosaki Short-Term Rental, Long-Term Wealth by Avery Carl Traction by Gino Wickman Connect with Ava:: Ava's BiggerPockets Profile Ava's Instagram Ava's Tiktok Ava's Youtube Channel Check the full show notes here: https://www.biggerpockets.com/blog/rookie-271 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t have enough capital to own property? Enter Airbnb arbitrage, the popular investment strategy that allows you to rent out someone else’s property for a profit. Of course, there are a few challenges that come with this. Namely, you’ll need to convince your landlord that it’s a good idea! As always, Ashley and Tony are back with some important tips. In today’s episode of Rookie Reply, we’re breaking down Airbnb arbitrage, and weighing the pros and cons on both sides of the arrangement. We also touch on the best liability protection strategies, using a HELOC for a down payment, and when it might be advantageous to buy a turnkey property versus a distressed property. Finally, we tackle the subject of tax planning and how hiring a CPA could help you save a fortune come tax season! If you want Ashley and Tony to answer a real estate question, you can 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 get into real estate without owning property Why a landlord would agree to Airbnb arbitrage (and how to convince them) The MASSIVE tax savings of hiring a CPA for tax planning Using a HELOC for a down payment on a long-term rental property When it makes sense to purchase a turnkey property versus a distressed property LLCs, umbrella insurance policies, and the best strategies to protect yourself from liability And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast Airbnb BiggerPockets Rental Property Calculator How to (Legally) Avoid Taxes by Investing in Real Estate Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself Growing Your Portfolio with Turnkey Investing with Whitney Hutten and Lance Robinson It’s Not All About Cash Flow: 4 Ways Real Estate Makes You Rich Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert MLS The Real Estate Podcast TurboTax Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-270 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t know what to do AFTER closing on a house? You’ve found your market, done your due diligence, passed your inspections, and now you’re asking, “what’s next?” Two of our three mentees are about to close on their first (and next) rental properties, but they don’t have to go in blind, thanks to the expert guidance of experienced investors Ashley and Tony. But we’re not just talking about a post-closing checklist. Instead, we’ll get into the nitty-gritty of getting a new short-term rental, how to handle inherited tenants, when to switch your investing strategy, and what happens when you discover a BIG plumbing problem in a property. We’re back to conclude our final meeting with our ninety-day mentees. Brandon, Lawrence, and Melanie have made MASSIVE strides to become real estate investors. Brandon and Melanie come back with deals under contract and close to closing, while Lawrence is looking to switch up strategies and potentially re-enter the cash-flowing world of college rentals. All the mentees have taken significant steps to success in just three months, and you can do it too! Stick around if you’re trying to get your next rental property under contract, as Brandon, Lawrence, and Melanie discuss why having community, accountability, and pressure for success took their investing to the NEXT LEVEL. If you want to break through your biggest goals, sign up for BiggerPockets Pro today and join our next Real Estate Rookie Bootcamp! In This Episode We Cover Investing in short-term rentals and how to set your house rules for new guests  Out-of-state investing and closing on a rental property remotely Home inspections and why they’re almost ALWAYS worth the cost Inherited tenants, estoppel agreements, and what to do as soon as you buy a rental with tenants Delayed maintenance and what happens when you uncover pricey plumbing problems in a property Student rentals and using them to make more cash flow than a regular rental property Accountability, community, and why investing together can help you build wealth faster And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Apartments.com Avail BiggerPockets BiggerPockets Bootcam The BiggerPockets Money Podcast BiggerPockets Pro Hostfully MLS On the Market Podcast Real Estate Rookie Facebook Group Real Estate Rookie Podcast PriceLabs RentRedi Tony’s Short-Term Rental Shopping List Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers Rookie to Real Estate Investor: House Offer Accepted! Now What? Connect with Brandon, Lawrence and Melanie: Brandon's BiggerPockets Profile Brandon's Instagram Lawrence's BiggerPockets Profile Lawrence's Instagram Melanie's BiggerPockets Profile Melanie's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-269 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Does seller financing apply to down payments? What happens when you buy a rental with squatters who refuse to leave? And is getting your real estate license even worth it? The world of real estate investing isn’t always as cut and dried as it seems, but running a profitable portfolio doesn’t need to be a massive headache. In this Rookie Reply episode, we’ll go through the common pain points that rookie landlords are dealing with and shed light on some frequently asked questions only experienced investors (like Ashley and Tony) have the knowledge to answer. If you’ve ever wondered what a property survey is or if you should charge a cleaning fee to your tenants, stick around! This time, Ashley and Tony will answer when you do (and don’t) need a property survey on your latest rental property purchase. From there, they debate the pros and cons of getting your real estate license (becoming an agent) as a rookie investor. We also touch on the ever-fun topic of what to do when non-leased tenants won’t leave your property, how to seller finance a down payment, and whether or not charging a “cleaning fee” at move-in is a wise idea. If you want Ashley and Tony to answer a real estate question, you can 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 Is getting your real estate license worth it, and the ongoing cost of becoming an agent Property surveys explained and why knowing your rental’s boundaries can be crucial Inherited tenants, squatters, and how to evict tenants who don’t have a lease Seller financing a down payment and how to close on your property with $0 out of pocket Cleaning fees, inspection checklists, and everything your tenants need to keep your property in perfect shape And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast Airstream Real Estate Rookie Youtube Channel LandGlide OnX Hunt MLS Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-268 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Twenty-four rental units in two years! It’s possible, but only if you’re using the same principles that today’s guest has employed. With house hacking, HELOCs, the 80/20 rule, and a few more strategic investing moves, you too could fast-track your path to financial freedom. If you want to build your dream real estate portfolio without sacrificing decades in the process, these strategies will help you do it! For Andrew Freed, a full-time project manager, real estate agent, and investor, these strategies have been life-changing. And even if you’re still a real estate rookie, you can do exactly what Andrew did to reach the same results. Thankfully, Andrew’s investing methods, tips, and tricks are well-rounded, well-developed, and easy to follow. In this episode, Andrew walks us through how he managed to buy twenty-four units in two years, the moment the gears started turning in his mind, his personal development process, and the key principle that keeps him focused on his goals. Andrew also gives us his best advice for predicting and preventing problems in your rental properties, stabilizing, and raising the rent. From gaining the confidence to get started to finding investment partners, he offers valuable, step-by-step guidance we can all learn from. In This Episode We Cover The 80/20 principle and using it to cut out the unnecessary when investing How focusing on personal development first can make you a better investor Staying focused and getting to your goals faster How to manage your rentals while working a full-time job The key to gaining confidence and going after your dreams The fastest ways to grow and scale your investment portfolio Tips for predicting and preventing problems and stabilizing rental properties Employing the "binder method" to set rent with inherited tenants Using real estate meetups to find mentors and investment partners And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group Real Estate Rookie Podcast The Real Estate Podcast MLS BiggerPockets apartments.com BiggerPockets Forums Real Estate Rookie Youtube Channel Simple Steps to Start, Scale, and Grow a Real Estate Business in 2023 The Rookie’s Guide to 2023 Goal Setting: How to Achieve HUGE Goals This Year Books Mentioned in This Episode: Rich Dad Poor Dad by Robert T. Kiyosaki The Miracle Morning by Hal Elrod The Compound Effect by Darren Hardy Connect with Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Andrew's Instagram Andrew's Facebook Check the full show notes here: https://www.biggerpockets.com/blog/rookie-267 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

If you live in a high-cost-of-living area, a house hack could solve many of your money-related problems. Sharing your living space isn’t always easy, but with a few simple tricks, you can make it more than worth your while. From subsidizing your cost of living to generating cash flow while you’re still staying at the property, house hacking has some almost unbelievable benefits that ANY investor can capitalize on. And Ashley and Tony have some great tips to share! Welcome back to this week’s Rookie Reply! Whether you’re a homeowner, landlord, or both, you’ll want to hear our hosts’ tips for preventing frozen pipes and what to do when it happens anyway. We also explore unpermitted rental property renovations, the nuances of buying properties that are for sale by owner (FSBO properties), and when and why to use electronic keypad door locks. You’ll even learn how to find the lender on ANY property in the nation the next time you plan a creative real estate deal! If you want Ashley and Tony to answer a real estate question, you can 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 Living for free, generating cash flow, and the HUGE benefit of house hacking Why unpermitted renovations aren’t always deal breakers Winterizing your rental or primary residence (and keeping your pipes safe!)  How a for sale by owner (FSBO) purchase differs from a regular realtor deal The benefits and limitations of smart-home technology  How to find the lender of ANY property in your area And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow BiggerPockets instagram BiggerPockets BiggerPockets Bootcamps Airbnb RemoteLock PropStream Books Mentioned in this Show: Real Estate Rookie: 90 Days to Your First Investment by Ashley Kehr The House Hacking Strategy by Craig Curelop Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-266 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Investing in sober living facilities may not be the first thing that comes to mind when we talk about building a real estate portfolio. But if you knew how much they made, you might take a second look. We often focus on short-term rentals, long-term rentals, or fix-and-flip properties. But one of the best things about choosing real estate as an investment medium is its wide range and opportunities for creativity. People out there are house hacking, wholesaling, investing in mobile homes, and buying up parking lots. The options are truly endless. So, where do we start? Sometimes, the best real estate investments are the ones that mean something more to us than cash flow. Devana Came and Reid Stadelman saw a gap in their community, and they filled it. They turned their real estate investment into a sober living facility to help people in recovery, and gave them a safe, structured place to stay while earning (mostly) passive income and building their investment portfolio. In this episode, this husband and wife dynamic duo tells us all about their creative real estate investments that cash flow like nothing else. We talk about what a sober living facility is (hint: it’s not a rehab center), how and why they built theirs, how to find and screen tenants, and tips for reducing tenant turnover rates. These things don’t just apply to sober living facilities. Devana and Reid offer advice that applies to any real estate investment journey. In This Episode We Cover How to turn an investment property into a sober living facility Finding and screening tenants Easy ways to keep your turnover rate low Managing an investment property with a waiting list Choosing a property that fits your needs and investment goals Investing for cash flow and your community Resources for starting a sober living facility or domestic violence shelter And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA Real Estate Rookie Facebook Group Real Estate Rookie Podcast The Real Estate Podcast The National Alliance of Recovery Residences House of Ruth MLS Connect with Devana and Reid: Devana's Email: [email protected] or [email protected] Devana's Instagram: [email protected] or @beeorganicmama Check the full show notes here: https://www.biggerpockets.com/blog/rookie-265 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Weighing the costs and benefits of building versus buying rental properties? You’re not alone! When property prices go up, it makes sense that most of us start looking for loopholes. But the cost is only one thing to consider when it comes to real estate investing. Thankfully, Ashley and Tony have some tips for deciding which way to go. Welcome back to this week’s Rookie Reply! If you’ve ever considered building an investment property or buying a new construction, you’ll want to hear what our hosts have to say. We also touch on whether or not your attorney’s location matters when you’re investing out of state, and how to qualify for capital gains exemptions. Last but not least, we dig into the differences between W2 income and rental income when it comes to taxes, and why one is so much better than the other! If you want Ashley and Tony to answer a real estate question, you can 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 your attorney’s location might matter and investing from afar Protecting yourself with partnership agreements in joint venture investing The pros and cons of building an investment property instead of rehabbing one How new construction properties can affect the refi seasoning period Maximizing your taxes with passive income  Why moving every two years may be the smartest way to avoid taxes Using a 1031 exchange to defer paying capital gains taxes   And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast How to (Legally) Avoid Taxes by Investing in Real Estate 10 Income Streams on 1 Property by “Land Hacking” w/ Kai Andrew Rookie Reply: Can You Put Offers on Multiple Houses? How an “I Don’t Want to Invest” Couple Became Successful Long-Distance Landlords with Annie and Trey Johnson Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-264 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Offer accepted! Now what? As a rookie real estate investor, it can be anxiety-inducing to hear that a seller accepts your house offer. You’ve been working so hard to get up to this point, and now, you’re one step closer to closing on your first rental property. But what happens next? Are there steps that you should be following? And what should you be doing in the meantime as your closing date starts to creep closer and closer? If you’re in this situation (or are about to be), stick around! We’re back with our “Rookie to Real Estate Investor in 90 Days” series, as our mentees join us for some exciting news. Last time around, much of the advice from Ashley and Tony was “make more offers!” Well, the mentees have delivered, so much so that one of our rookies already has a house under contract just a month or so after starting this series! We first talk to Melanie, who began submitting short-term rental offers in Savannah, Georgia. She’s got some solid takeaways but is having trouble finding someone who will accept seller financing. Next, Brandon hops on as the first rookie to get a property under contract! With only a few offers sent out, Brandon has already agreed with a seller on terms but has questions about when to get a home inspection and whether title insurance is worth it. Finally, Lawrence joins us with a copy of Ashley’s newest book, Real Estate Rookie: 90 Days to Your First Investment. Lawrence has been making aggressive offers but couldn’t match a seller’s counteroffer with high-interest rate financing terms. All our rookies are inches away from getting their first (or next) rental property, and this could be the most pivotal point! In This Episode We Cover How to make an aggressive offer on a house and negotiating with a seller Short-term rental data and how to use tools like AirDNA to find occupancy rates What to do once you’re under contract for a new rental property Home inspections and when it’s worth waiving one (plus when you DEFINITELY should get one done) Title insurance vs. an attorney's opinion and which one is a better bet Seller financing and how to find the perfect terms a seller will accept How to target motivated sellers to find better real estate deals at lower prices And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA BiggerPockets Rental Property Calculator Data.rabbu PriceLabs Real Estate Rookie Facebook Group Real Estate Rookie Podcast Connect with Brandon, Lawrence and Melanie: Brandon's BiggerPockets Profile Brandon's Instagram Lawrence's BiggerPockets Profile Lawrence's Instagram Melanie's BiggerPockets Profile Melanie's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-263 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

You want to build a real estate portfolio, but you might not even own a single rental property yet! So how do you go from onlooker to investor and finally become financially free through real estate investing? Start with the end in mind! So many rookie real estate investors envision a dream life with cash-flowing rentals and little to no stress, only to realize the landlord life is a LOT different than social media makes it seem. To grow a passive real estate portfolio, you need to do something different. David Greene, host of the BiggerPockets Real Estate Podcast, knows exactly what that is. David went from cop to top-producing real estate agent, investor, broker, and host of the world’s most recognized real estate investing podcast. He knows what it feels like to have a big portfolio and all the pain points that come with it. For the rookie investors, David wants to make sure you don’t make the same mistakes he did. Scaling your portfolio incorrectly could force you into yet another job, NOT the financial independence you’re looking for. In his new book, SCALE: A Successful Agent’s Guide to Leveling Up Their Real Estate Business, David outlines EXACTLY what you must do to build a business, NOT a landlord nightmare. In this episode, he’ll give you everything you need to know about picking the right area and property, why appreciation often beats cash flow, knowing “the number” to offer, and how you can outsource your work to live the life you love! Pre-Order SCALE now, and use code “SCALE262” for 10% off at checkout! In This Episode We Cover How David Greene went from stressed-out cop to financially-free investor  How to build a business, NOT a job that will take time out of your day What to look for when researching an investing area and whether cash flow markets are worth it Knowing the “efficiency” of a deal and how it can make you MUCH wealthier The “long-term outlook” David uses when analyzing ANY real estate deal How to use “leverage” to work less, earn more, and build a better business Why buying the most real estate possible IS NOT a good option for investors And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Bankrate BiggerPockets BiggerPockets Bookstore Bluehost Dave Meyer's Instagram GoBundance GoDaddy Monday.com On the Market Podcast The Real Estate Rookie Podcast The 2023 State of Real Estate Investing Report Zillow Connect with David: David's BiggerPockets Profile David's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-262 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices