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
The BiggerPockets Money Podcast
On the Market Podcast
Real Estate Rookie Facebook Group
Real Estate Rookie Podcast
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
Lawrence's BiggerPockets Profile
Melanie's BiggerPockets Profile
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: firstname.lastname@example.org
Learn more about your ad choices. Visit megaphone.fm/adchoices
The purchase, sale, borrowing, or even leasing options for a piece of commercial property often hinge upon the commercial real estate valuation https://cesvaluations.com/value of the building. Assessing that value, however, is no simple matter. Commercial appraisals are generally more subjective than residential reviews, whether it’s an apartment building, an industrial complex, a retail shopping center, or an owner-occupied business structure.
it's hard to hear Tony.
Exactly 45% of this episode is advertisements. Content begins at 3:50
I absolutely love this podcast cast and this episode is so valuable. It answers the question I cannot get away from; I love Real Estate... and working with people!
it's a buyer rep agreement
Asana - I have to look up that project management tool
This dude just admitted to fraud
can you explain what counting meters does?
recession proof real estate investing
nvm he has a book lmao
anyone that knows when a recession starts and ends either trying to sell something or just delusional. Great to know that! should I get a econmic degree?
Another fantastic podcast. I'm still househacking as my first deal.
Great explanation of when balloon payments are useful. Thanks!
love the channel appreciate you guys so much. I have a question about flipping. when your planning out your renovations and additions how do you estimate or appraise how much equity you'll create or how much profit you'll achieve?
I am super excited for this show. Can't wait!