DiscoverReal Estate Rookie
Claim Ownership
Real Estate Rookie
Author: BiggerPockets
Subscribed: 5,493Played: 292,245Subscribe
Share
© Copyright © 2022 BiggerPockets. All Rights Reserved. Disclaimer: The information contained in this podcast is for general informational purposes only. In no event will BiggerPockets be liable for any loss or damage derived from the information provided.
Description
Ready to build your real estate empire… but not sure where to begin?
Think of us as your personal trainer.
From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.
Looking to 10X your real estate investing business this year? This show isn’t for you.
Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up.
Every Monday, Wednesday and Friday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.
390 Episodes
Reverse
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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Making six figures from one rental property is every investor’s dream, but to achieve this, you need to choose the right investing market, buy the right property, and create luxurious “moments” that other rentals don’t offer. Today’s guest is going to show you the ropes of luxury real estate investing!
Welcome back to the Real Estate Rookie podcast! When Veronica Garreton decided to try her hand at short-term rentals, she went straight for the big fish—a $750,000 rental property in Joshua Tree, California. At the time, it was the area’s most expensive property listed for sale, and in year one, the rental barely broke even. Using her background in architecture, however, Veronica identified creative value-adds that would attract more guests and allow her to charge her ideal nightly rate. The very next year, she pocketed a whopping $150,000 in pure profit!
Whether you own a basic rental or a “luxury” property, there is plenty of wisdom to glean from today’s episode. Veronica talks about analyzing deals, using the power of influencer marketing to get more bookings, and the small touches ANY property owner can make to enhance the guest experience!
In This Episode We Cover
How Veronica pocketed $150,000 in profit from a single rental (in one year!)
Enhancing your guest experience with simple but effective property additions
How to transform your rental property into a “luxury” stay
Raising your bottom line and standing out with luxury rentals
How to get MORE bookings for your rental with influencer marketing
The “rule of three” Veronica uses to analyze luxury short-term rentals
And So Much More!
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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
A property manager can alleviate the burden of screening tenants, collecting rents, and maintaining your property. But if you’re not careful, exorbitant fees and unexpected charges can quickly eat away at your cash flow. Today, you’re going to learn how to navigate this relationship and ensure that you’re getting these services at fair value!
In this Rookie Reply, Mindy Jensen from the BiggerPockets Money podcast and Tiamo Wright, Director of Product and Marketplaces at BiggerPockets, are joining us to help field your recent questions. First, we discuss medium-term rentals and how they differ from both long-term and short-term rentals, as well as whether you should invest in real estate while you’re in debt. We also get into real estate development and some of the different ways to fund larger projects. Looking to buy your first short-term rental property but don’t know where to start? Our experts will point you in the right direction!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
How to “manage” your property manager (and approach conflict!)
Whether you can invest in real estate while carrying student loan debt
Creative ways to get financing for a new construction project
How to buy and launch a short-term rental property
The very FIRST step you should take when buying a rental property
Mindy’s and Tiamo’s best real estate investing tips for rookies
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Tune in to the “BiggerPockets Money” Podcast
Hacking Your Life to Live for (Almost) Free with Craig Curelop
How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame
‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects
Build Your Investor-Friendly Team
The SMARTER Way to Invest in Real Estate
Find Out if You’re Eligible for a NACA Loan
Connect with Mindy & Tiamo
Mindy's BiggerPockets Profile
Tiamo's BiggerPockets Profile
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Want a successful, cash-flowing rental property? Make sure you don’t overlook the tenant screening process or hire the “cheap” contractor. Otherwise, you could be dealing with floods, evictions, project delays, and other issues. Fortunately, today’s guest has already dealt with these headaches so that YOU don’t have to!
Welcome back to the Real Estate Rookie podcast! Investor Dan Stowell has endured not one but TWO horror stories during his real estate journey. As you’re going to learn today, the consequences of placing a bad tenant or hiring the wrong contractor can be severe. After a tenant caused $47,000 in water damage (and didn’t have renters insurance!) and a renovation on his primary residence turned into a 1,000-day rehab, Dan had every reason to give up on real estate investing. Instead, he tackled each challenge and used these expensive lessons to make him an even better investor!
In this episode, Dan offers several tips that will prepare you for anything that could be thrown your way. You’ll learn how to screen a tenant, how to avoid bad contractors, and, most importantly, how to react when things go south. Stay tuned until the very end to find out what became of Dan’s problematic properties!
In This Episode We Cover:
How Dan survived $47K in water damage and a 1,000-day rehab (on two different projects!)
The REAL cost of placing a bad tenant in your rental property
How to improve your tenant screening process (and red flags to watch out for!)
The BEST way to build out a scope of work for your next rehab project
Why you shouldn’t hire the “cheap” contractor for your home renovation project
Why documentation is key when dealing with tenant and contractor issues
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong
Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property
How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability
Connect with Dan
Dan's BiggerPockets Profile
Dan's Instagram
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Many people buy rental properties for the cash flow, but today’s guest took it to another level—dropping out of college to go all-in on real estate investing. Find out how he brings in several thousand dollars of profit each month and how YOU can replicate his investing strategy!
Welcome back to the Real Estate Rookie podcast! Like many new investors, Bailey Kramer started out small—converting long-term rentals into Airbnbs and co-hosting these properties for someone else. After seeing how much money this investor was raking in, Bailey decided that he wanted his own piece of the short-term rental pie. Within eighteen months, he had built his own small portfolio with a focus on cash flow. Today, his three properties bring in a total of $7,000 each month in addition to all of his co-hosting profits!
Tune in as Bailey delivers the blueprint he uses to maximize his cash flow. The best part? This strategy is EASY to implement, whether you’re investing in your own backyard or another market entirely. We also get into DSCR (debt service coverage ratio) loans, how to build an out-of-state investing team, and the method Bailey uses to find the perfect neighborhoods to invest in!
In This Episode We Cover:
The strategy YOU can use to maximize cash flow across your portfolio
How to get approved for a mortgage without paystubs or tax returns
The low-cost, low-risk way to get into real estate—co-hosting!
Why you NEED to build your team before investing out of state
Finding the right neighborhood to invest in with the “reverse review” method
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Making $8K/Month from 2 Doors and How to Get HUGE Cash Flow with Fewer Units
Seeing Greene: How to Make Even MORE Cash Flow Off Your Rental Properties
Cash Flow for Rental Properties: What Is Average or Good?
Find a DSCR Loan with OfferMarket
Connect with Bailey
Bailey's BiggerPockets Profile
Bailey's Facebook
Bailey's Instagram
Bailey's YouTube
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
You want to start real estate investing, but where should you start? Should you buy a course, join a mastermind, or do your own research? There’s no one-size-fits-all approach to investing, but we can point you in the direction that aligns with your investing goals!
Welcome back to another Rookie Reply! In this episode, we’re going to start at square one of your real estate journey. We also get into investing partnerships and how to work “sweat equity” into your partnership agreements. Have you ever come across a property with red flags? Learn when to walk away from a deal and when to double down instead. Finally, stick around until the end as we bring repeat guest Nicole Rutherford on to talk about starting a co-hosting business, vetting co-hosts, and finding a short-term rental market!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
How and where to begin your real estate investing journey
When to walk away from a deal (and when to double down!)
How to structure a real estate partnership (and account for “sweat equity”)
Finding the right co-host to help manage your rental property
Expert tips for finding a new short-term rental market
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to know how to buy your first rental property? You’ve come to the right place! It’s no secret that investing in real estate is one of the best ways to achieve financial freedom, yet only a few ever take action. Today, we’re going to provide everything needed to land your next rental property faster than you thought possible!
Welcome back to the Real Estate Rookie podcast! In this special episode, Dave Meyer, Vice President of Market Intelligence at BiggerPockets, is teaching you how to buy your first (or next) rental property in just ninety days. This all-in-one beginner course covers everything from analyzing rental properties to financing deals and much more.
Whether you’re brand new to the world of real estate investing or looking for an easy way to add another rental to your budding portfolio, this episode is loaded with actionable steps you can take. We’ll even point you to calculators, software, and other tools that will make your job that much easier. So, what are you waiting for? Your ninety-day challenge starts NOW!
Ready to become a BiggerPockets Pro? Click here to sign up and use code “ROOKIECHALLENGE” for a special discount!
In This Episode We Cover:
How to buy your first (or next) rental property in ninety days or less
The three core steps to buying long-term rental properties
How to analyze deals (in five minutes or less!) like an investing PRO
Tools and resources to help you fast-track the buying process
The best and most creative ways to find GREAT real estate deals
How to unlock financial independence through the power of real estate
The most common roadblocks rookies face on their real estate journey
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Get 20% Off BiggerPockets Pro Membership with Code “GOALS24”
Analyze Deals in 5 Minutes or Less with Our Rental Property Calculator
Determine Monthly Rent with Our Rent Estimator Tool
Hear More From Dave On the “On the Market” Podcast
Connect with Dave:
Dave's BiggerPockets Profile
Dave's Instagram
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Could rental properties help you switch careers, replace your W2 income, or get out of debt? According to today’s guest, yes! Once Dave learned of the flexibility that real estate investing could offer, he left his established career behind and never turned back!
Welcome back to the Real Estate Rookie podcast! Dave Williams and his wife were working as traveling physical therapists when they determined that their careers wouldn’t support the lifestyle they wanted. So, they turned to real estate and adopted an amazing strategy—one that allows them to buy a house every few years with low money down before eventually moving out and converting it into a long-term rental. By repeating this strategy, they have been able to build a small, local portfolio with cash-flowing, appreciating properties!
In this episode, Dave talks about the value of 2-1 buydowns and the one question you must ask before starting any home renovation project. Looking for a market to invest in? He even shares a list of the BEST neighborhoods in the greater Denver area. But like any investor, Dave has had a few horror stories as well. Stick around to hear how one of his rentals flooded not once, not twice, but THREE times!
In This Episode We Cover:
How Dave paid off $100K in debt with only THREE rental properties
Buying new properties with low money down and converting them into rentals
The one question you NEED to ask before making any home renovation
How to find properties that deliver cash flow AND appreciation
The BEST markets to invest in around Denver, Colorado
2-1 buydowns explained (and when you should use them!)
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Should you invest for cash flow or appreciation? Whether you need another income stream today or have one eye set on retirement, you have your own reason for investing in real estate. It’s important to choose an investing strategy that aligns with your ultimate goal, and today, we’ll show you how!
In this Rookie Reply, we discuss the age-old debate of cash flow versus appreciation and whether you can have BOTH. We also get into landlord insurance, limited liability companies (LLCs), and other ways to protect your assets, as well as what to do when a tenant or guest damages your rental property. Could you use a home equity line of credit (HELOC) for your next investment? Stay tuned to learn how it could impact your credit score. But first, you’ll hear from a rookie investor whose investing partner stole $40,000 and get Ashley and Tony’s best tips on structuring a real estate investing partnership!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
Cash flow versus appreciation (and how to invest for both!)
How to structure your FIRST real estate investing partnership
The best ways to protect your personal and business assets
The difference between a home equity line of credit (HELOC) and cash-out refinance
How a HELOC impacts your debt-to-income (DTI) ratio and credit score
What to do when a tenant or guest damages your rental
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships” and Use Discount Code “PARTNER377”
Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself
Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies
Require Damage Protection Insurance for Your Vacation Rental with Superhog
Connect with Jerryian:
Jerryian's BiggerPockets Profile
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Having your rental property stolen?! How is that possible? This would be a worst-case scenario for any investor, and it was nearly reality for today’s guest. Buckle up as we share one of the wildest real estate horror stories you’re likely to hear!
Welcome back to the Real Estate Rookie podcast! In this episode, which could be mistaken for the latest entry in your favorite crime drama, investor Matt Drouin tells the bizarre story of how he nearly LOST his $150,000 rental property to a professional scam artist. He shares some of his biggest lessons learned from this incident—including how to screen tenants properly, when to get an attorney involved in the eviction process, and how to avoid scams when looking for your own off-market properties.
But that’s not all. You’ll also learn about the many benefits of investing in your hometown, as well as when to branch out and choose a market beyond your backyard. What’s more, you’ll hear about the often-overlooked mixed-use buildings that can be a gateway into commercial real estate investing, and how to take down these deals with creative financing!
In This Episode We Cover:
How Matt nearly lost his property to a scammer (and how he got it back!)
How to avoid scams when searching for off-market real estate deals
The competitive advantage you gain by investing in your backyard
Buying the “mixed-use building” deals that most investors ignore
Using ZERO of your own money on a commercial deal with creative financing
How to finetune and automate your tenant screening process
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Ponzi Schemes, Property Fraud, and How to NOT Fall for a Real Estate Scam
Trespassers Took Over My Rental Property! (How to Get Rid of Squatters ASAP)
Tools to Help You Find Your Market:
Become a BiggerPockets Pro Member
“On the Market” Podcast
Crexi
Federal Reserve of St. Louis
Marcus & Millichap
Improve Tenant Screening and Property Management with AppFolio
Connect with Matt:
Matt's BiggerPockets Profile
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Every investor wants a rental property that brings in six figures, but not every investor is willing to scour old listings, bring in a partner, or exhaust all of their creative financing options. If you want the perfect deal, don’t let money get in the way!
Today, we’re chatting with former Division II football coach Adam Howard. In just three years, Adam has bought several properties that provide enough cash flow to replace his W2 income. This includes the “crown jewel” of his portfolio and first commercial property, a 13-unit hotel tucked away in a beautiful New York lake town. Adam found this rare deal by digging up an old Zillow listing that was incorrectly described as a single-family home. He was able to get seller financing for the deal, and today, it brings in $160,000 per year!
Of course, this success story had its fair share of hiccups. Adam shares how he had to bring in a partner to take down the deal and identify creative ways to add value to the property before charging his ideal nightly rate. He also talks about the challenges of out-of-state investing and why building a strong investing team has been the key to his success!
In This Episode We Cover:
How to land your FIRST commercial real estate deal without bank financing
The “small” commercial properties that are IDEAL for seller financing
How to find the perfect investing partner for your next deal
Leveraging your retirement accounts to buy MORE properties
Raising your nightly rate with the best value-adds for short-term rentals
How to find the hidden value in properties with incorrect listings
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal
Commercial Real Estate Fundamentals for Successful Investors
Scaling From Single Family to Commercial Real Estate
Connect with Adam:
Adam's BiggerPockets Profile
Adam's Website
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Every landlord wants the best possible tenants in their rental property, but of course, this doesn’t happen by chance. Today, we’re delivering several tips to help you improve the screening process, work seamlessly with inherited tenants, and raise rents without pushback!
Welcome to another Rookie Reply! In this episode, we not only talk about dealing with tenants but also get into the different types of hard money loans and how to use them. Is an accessory dwelling unit (ADU) attached to the property you’re looking to buy? We discuss how showing its potential income can help you qualify for a loan. Finally, real estate investing is no walk in the park, despite what social media might have you believe. Stick around as we touch on some of the hard truths that new investors should know!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
How to screen tenants for your rental (and the three types of checks you need to run!)
Why you NEED estoppel agreements when inheriting tenants
Different types of hard money loans (and what they cover)
How to bolster your loan approval odds with accessory dwelling unit (ADU) income
The hard truths people DON’T tell you about investing in real estate
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley
Tenant Screening Tools for Landlords:
BiggerPockets Pro
Avail
RentRedi
AppFolio
Buildium
TenantReports.com
Set Up Your Own Virtual Mailbox with PostScan Mail
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Building a real estate business is one of the best ways to unlock financial freedom, but that’s not to say that every strategy is the right fit for you. Today’s guest had to strike out multiple times before arriving at the perfect real estate investing strategy!
Like many new investors, Nicole Rutherford got her start in the rental arbitrage space, where she would bring in at least $1,500 per unit each month. But once landlords decided to raise rents and more competition arrived, her profits evaporated, and her Airbnb bookings took a nosedive. Suddenly, she was hemorrhaging money. With $130,000 in debt, Nicole was forced to cut her losses and start over. Rather than giving up on real estate investing, however, she simply pivoted to another strategy. Just one year later, Nicole is debt-free and runs a thriving Airbnb co-hosting business with fourteen units!
Whether you’re new to the world of real estate or looking to pin down your strategy, there’s plenty of helpful information to glean from this episode. Tune in as Tony and Nicole discuss the differences between arbitrage and co-hosting, the different services that co-hosts provide, and what to include in your co-hosting agreements. You’ll also learn how to leverage your network to find your first clients and how to build trust with property owners!
In This Episode We Cover:
Building a profitable real estate business (and common mistakes to avoid!)
How Nicole climbed out of $130,000 in debt with Airbnb co-hosting
Finding your first clients through your own real estate network
The importance of maintaining transparency with guests and property owners
Key terms and conditions you MUST include in your co-hosting agreement
How to pivot to a new investing strategy when one isn’t working
Why you DON’T need to hit a home run on your first real estate deal
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Making $140K/Year & Retiring His Wife in 18 Months with “Rental Arbitrage” w/Keron Bryce
How to Start an Airbnb Business in a Brand New Market
Rookie Reply: How to Choose Your Real Estate Investment Strategy
Connect with Nicole:
Nicole's BiggerPockets Profile
Nicole's Instagram: @_nicolerutherford_
Nicole's LinkedIn
Check 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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
For some people, real estate investing is “too risky.” But what if a small, cash-flowing portfolio could provide financial stability when you lose your job? If you asked today’s guests, they might say it’s too risky NOT to buy rental properties!
Welcome back to the Real Estate Rookie podcast! Kevin and Julia Windheuser got into real estate at the perfect time. Shortly after building a small portfolio with six total doors, Kevin was let go from his “safe” engineering job. With no W2 income, the couple leaned on the steady income from their rentals. This $4,000 monthly cash flow bought them the time to not only work on their real estate business but also find Kevin a new job.
In this episode, you’ll learn about the power of a “small and mighty” rental portfolio and how it can insulate your finances when times are tough. Kevin and Julia also talk about why they chose a market just outside their backyard, as well as how they estimate rehab costs. Tired of bad tenants? Julia shares the unique screening process she uses to guarantee the best tenants in town!
In This Episode We Cover:
How to build a small portfolio of cash-flowing rental properties
How multiple streams of income can save you financially in life
Choosing a market when your backyard is too expensive to invest
Home renovation projects YOU can tackle (and which ones to outsource)
Simple ways to estimate rehab costs as a new investor
How to improve your screening process and get better tenants in your rentals
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio
Making $10K/Month with a “Small and Mighty” Rental Portfolio
How to Screen Tenants for Rental Property
Rental Management Tools for Landlords:
RentRedi
Stessa
Connect with Kevin & Julia:
Kevin and Julia's Instagram: @luxlivingri
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-372
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Need to estimate rehab costs or calculate ARV (after-repair value) on a property? For new investors, these tricky tasks can often make or break a deal. But, as always, our hosts are here to deliver some helpful tips!
Welcome back to another Rookie Reply! After diving into rehab costs, discussing hard money, and weighing the pros and cons of FHA loans, real estate tax strategist Natalie Kolodij returns to the show to deliver some extra tax advice. She talks about passive losses and why you need to carefully track them from year to year, as well as how tax benefits are allocated in real estate investing partnerships. Stick around until the end to learn the ONE mistake you can’t undo on your tax return!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
How to estimate rehab costs and calculate after-repair value (ARV)
The pros and cons of FHA loans (and when to get a conventional loan instead!)
How to find the right hard money lender for your next deal
Why you NEED to track your passive losses (even if you can’t use them this year)
The ONE tax benefit you can never get back if your taxes are filed incorrectly
Using losses to offset earned income with the short-term rental “loophole”
How tax benefits are allocated in a real estate partnership
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Find a Hard Money Lender
Grab Your Copy of “The Book on Estimating Rehab Costs”
Hear Our Last Episode with Natalie
How to Use “Hard Money” to Flip Houses, BRRRR, or Buy More Deals
FHA vs. Conventional Loan: What’s the Difference?
Should You Start Investing With an FHA Loan? Here’s Why... Or Why Not
Connect with Natalie
Natalie’s BiggerPockets Profile
Natalie’s Facebook
Natalie’s LinkedIn
Natalie’s Instagram
Natalie’s Website
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-371
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Airbnb arbitrage is a real estate investing strategy that provides a low-cost, low-risk entry point for new investors. While you don’t get the appreciation or tax benefits of property ownership, arbitrage can deliver cash flow in spades!
Welcome back to the Real Estate Rookie podcast! Like many investors, Keron Bryce started house hacking to help cover his mortgage. Once he discovered the potential of short-term rentals, however, he converted his unit into an Airbnb and doubled his cash flow right off the bat. But Keron still aspired to grow his business. So, without a ton of money for down payments, he decided to try his hand at arbitrage—a strategy that helped him rake in $140,000 of pure profit last year and allowed his wife to leave her nine-to-five!
Need an easy alternative to owning rentals? Arbitrage is not only a great way to test the waters before buying properties, but it’s also a profitable strategy in its own right! In this episode, you’ll learn about the pros and cons of arbitrage, the systems and processes you’ll need to automate your business, and the best way to find new units!
In This Episode We Cover:
How to get cash flow from real estate without owning rental properties
The strategy Keron uses to get a 100% cash-on-cash return
The pros and cons of the rental arbitrage model
System and processes you NEED to scale your business
How to convince a landlord to allow rental arbitrage
Leveraging your network to acquire MORE units
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Airbnb Rental Arbitrage: How to Make Money Without Owning Property
Building a 150-Unit “Lease Arbitrage” Empire and the STR Furnishing Playbook
Tools to Analyze Short-Term Rentals:
BiggerPockets Airbnb & Short-Term Rental Calculator
AirDNA
Rabbu
Connect with Keron:
Keron's BiggerPockets Profile
Keron's Facebook
Keron's Instagram: @keronbrycerei
Keron's Website
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-370
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Reaching financial freedom in ten years or less with a small real estate portfolio!? While it might seem like a lofty goal, it’s very doable when you maximize your cash flow and play the long game. If “the lazy investor” can do it, so can YOU!
Welcome back to the Real Estate Rookie podcast! When Dion McNeeley reached early retirement in 2022, he was raking in $200,000 per year from just sixteen units. Now, he’s using his newfound financial independence, knowledge, and resources to take a few more risks with his real estate investments. For his latest deal, he used the buy, rehab, rent, refinance, repeat (BRRRR) method on a house hack that generates enough cash flow to fund his travels!
It all sounds very impressive, but how on earth did he get there? In this episode, Dion shares some of the secrets and strategies that allowed him to go from $89,000 in debt to financially free within a decade. He talks about building a buy box that features a blend of market data and home attributes, as well as finding deals on the multiple listing service (MLS) that other buyers overlook. He even discusses an ingenious strategy that will have your tenants ASKING you to raise rents!
In This Episode We Cover:
How to reach financial freedom in ten years or less with real estate
Finding deals on the multiple listing service (MLS) that other investors miss
Why you should stick with ONE investing strategy for the long haul
The MOST important metric to include in your buy box
How to get tenants to ASK you to raise rents with the “binder strategy”
Why house hacking is the easiest way to start real estate investing
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion McNeeley
How to Use Public Data to Find Real Estate Deals That 99% of Investors Miss
Try the "Binder Strategy" Yourself
Grab Your Copy of “One Rental at a Time”
Connect with Dion:
Dion's BiggerPockets Profile
Dion's Facebook
Dion's Instagram
Dion's Website
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-369
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Want to pay less money to the IRS in 2024? We’ve got the real estate tax strategies to help you do just that. And get this—you don’t need a large real estate portfolio to benefit from these money-saving tax tips!
Welcome back to the Real Estate Rookie podcast! Today, real estate tax strategist Natalie Kolodij lends her expertise on the many tax benefits of real estate investing. Natalie is not only a certified public accountant (CPA) but also a fellow investor, and in this episode, she shares the unique real estate investing strategy she used to get started—flipping mobile homes! She also dives into the different types of partnerships and their tax advantages, as well as common house hacking misconceptions that cause new investors to miss out on important deductions.
Need to sell a property? You’ll want to know about the exclusion that allows you to avoid capital gains tax. Natalie even gets into the short-term rental “loophole” that investors can use to reduce their taxable income each year. Of course, you don’t need to master the tax code before buying your first property—you just need to find a tax professional who specializes in real estate. So, Natalie offers three questions you MUST ask before hiring one!
In This Episode We Cover:
Must-know 2024 tax strategies for the small rookie investor
Crucial real estate questions to ask a tax professional before hiring them
How to plan and file taxes for different types of partnerships
Common house hacking misconceptions that cost investors thousands of dollars
The short-term rental “loophole” that allows you to reduce your taxable income
How to dodge capital gains tax when selling your investment property
The most common tax mistakes that new investors make (and how to avoid them!)
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Hear Natalie on the “BiggerPockets Money” Podcast
What You Need to Do NOW to Pay Fewer Taxes in 2024
How to (Legally) Avoid Taxes by Investing in Real Estate
Seeing Greene: CPAs Answer YOUR Top Investing and Tax Questions
The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of
Connect with Natalie:
Natalie's BiggerPockets Profile
Natalie's Facebook
Natalie's LinkedIn
Natalie's Instagram
Natalie's Website
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-368
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Commercial real estate investing might seem intimidating, but in many cases, this kind of rental property is even easier to buy than a single-family home. After two failed attempts, our own Tony Robinson unlocked the blueprint for buying commercial properties as a beginner!
Welcome back to the Real Estate Rookie podcast! Recently, Tony took down his very first commercial deal—a thirteen-unit property he plans to transform into a hotel with self-check-in convenience. But this huge triumph didn’t come without a few costly mistakes. Before landing his “golden goose,” Tony missed out on two properties and lost thousands of dollars in the process. By his third attempt, however, he had cracked the code!
If you want to scale your real estate portfolio and become a full-time investor, buying a commercial property might be your best bet. In this episode, Tony dives into the numbers and projections for his new hotel, as well as the biggest takeaways from his experience. He also shares how to find a market for a niche property, how to raise private capital for a large deal, and why it’s easier to approach an owner about seller financing on a commercial deal!
In This Episode We Cover:
How to buy commercial real estate as a novice investor
Finding the right market for your niche property
How to raise capital to take down even bigger real estate deals
The five factors that determine if you can compete in a market
Why you NEED to develop your network before buying commercial real estate
When to hire your first employee for your real estate business
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
Why Self-Storage Beats Rental Properties
Commercial Real Estate Fundamentals for Successful Investors
Scaling from Single Family to Commercial Real Estate
Find Your Next Commercial Property:
Crexi
LoopNet
BizBuySell
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-367
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Choosing to wholesale real estate might be the EASIEST way to kick-start your real estate investing journey. You don’t need a ton of money and you don’t need to take on debt. And with a couple of deals under your belt, you’ll have the money to buy your own investment properties!
Welcome back to the Real Estate Rookie podcast! Today, Amina Stevens is an investor, wholesaler, and the host of First-Time Buyer's Club on the Oprah Winfrey Network. But only a few years ago, Amina was a high-school educator who was teaching kids to “follow their dreams” without following any of her own. So, she left her “safe” career, got her license, and found a real estate mentor who showed her the ropes of wholesaling land.
Want to invest in real estate but feel you don’t have the money or connections to start? Wholesaling could be the perfect strategy to get your foot in the door! In this episode, Amina shares how she chose her market, found sellers and buyers, and built a six-figure real estate business from the ground up—everything you could need to get started today!
In This Episode We Cover:
The “easiest” way to get into real estate with NO money
How Amina built a six-figure business in only a few months
Why you NEED a mentor to help fast-track your investing journey
How to get money to buy investment properties by wholesaling land
The systems and processes YOU need for a successful real estate business
How to find the perfect market for your real estate investing strategy
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
A 60-Day Action Guide to Wholesaling Your First Property
Real Estate Wholesaling: Profit Parasites or Property Investors’ Best Friend?
PropStream
LandGlide
LandVision
Connect with Amina
“First-Time Buyer’s Club”
Amina's Instagram: @homesbyamina
Amina's Twitter: @homesbyamina
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-366
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
💚WATCH>>ᗪOᗯᑎᒪOᗩᗪ>>LINK>👉https://co.fastmovies.org
First off, kudos to you for taking the plunge into the world of real estate. It's an exciting and potentially rewarding journey you've embarked upon. As someone who's been through the ups and downs of this industry, I can totally relate to where you're at right now. https://www.houzz.com/pro/waxpaperie Starting out in real estate can be a bit overwhelming, but remember, everyone has to start somewhere. The fact that you're seeking advice and connecting with others in the field shows that you're already on the right track. https://www.cakeresume.com/me/wax-paperie
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
Great Podcast
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!