DiscoverReal Estate Rookie
Real Estate Rookie
Claim Ownership

Real Estate Rookie

Author: BiggerPockets

Subscribed: 1,882Played: 32,404
Share

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 Felipe Mejia 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 Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.

30 Episodes
Reverse
Expensive market? Busy with a career and other priorities? There are a lot of compelling reasons to consider turnkey investing in a more affordable area – where a local "operator" sells you a tenanted property designed to pump out cashflow from day one.All you have to do is "turn the key," hand things off to a property manager and... voilà! You're rich. You can now kick back and sip margaritas on the beach. Right?Well, it's a little more complicated... as you'll learn today from seasoned turnkey investors Whitney Hutten and Lance Robinson. Both have bought rental properties from turnkey operators in several different markets, and they tell us all about the highs and lows, reveal what they wish they would have known, and offer candid advice for anyone considering this niche.When you're done with this show, you'll know the exact questions savvy investors ask prospective turnkey providers about neighborhoods, construction warranties, property management contracts, and how operators handle evictions and major repairs. You'll also know how to handle a home inspection to ensure you know exactly what you're getting into!Look – there are a lot of turnkey operators active on the BiggerPockets forums. A lot of them are great teachers, too. But this episode is told from the investor/customer's perspective... and it's well worth a listen – or two!In This Episode We Cover:What turnkey investing isDoing due diligence to find a trusted turnkey operator Why it's always worth flying out to walk the property before purchasingHiring your own home inspector!Whitney and Lance's turnkey winners and losersManaging your property managerHandling an evictionThe role of cash reserves when buying turnkey propertiesThe "BRRRR-key" business modelAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastQuickbooksBiggerPockets CalculatorsDavid GreeneTurnkey ReviewsBiggerPocketsBiggerPockets ForumsAppfolioBuildiumZillowApartments.comFEMADeal Check StessaQuickbooksCheck the full show notes here: http://biggerpockets.com/rookie29
We all have the same 24 hours per day... so be like Marsay Winder and make the most of them!He calls himself the "Property Pastor," and he owns 8 properties (24 units) in the Virginia Beach, VA area. Marsay juggles his business with his family life and a full-time career in manufacturing, so landlording systems are a must – and he breaks them down for us in this episode.You'll also hear about his MVP mentor, how he avoids time-wasting distractions, and the books and resources that helped him build a formidable portfolio in just 3 years.Enjoy this one... and if you're getting value out of the content here, please do us a favor and give us a rating and review on Apple Podcasts. It takes less than 30 seconds, and it really helps us climb the rankings and spread the gospel of financial independence through real estate investing!In This Episode We Cover:Working on his properties on nights and weekends while working full-timeGoing big on his first deal: a 4-unit building bought from a wholesalerBuying from tired landlordsHow to frame a rent increase with tenantsUsing Cozy and QuickBooks to manage his rentalsHiring a property management companyHow to successfully approach a real estate mentor Involving his kids in his real estate investing businessWhat happened when his tenant joined his church, then stopped paying rentAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastRobert KiyosakiCozyDeal MachineQuickbooksBiggerPockets CalculatorsRookie Podcast 12: What Works (and Doesn’t) in a Recession & the Untold Story of J Scott’s Messy First FlipGoogle FormsGoogle VoiceCashflow Board GameCheck the full show notes here: http://biggerpockets.com/rookie28
Aaron Chapman ran into major obstacles on his first 2 real estate deals... obstacles you might face as you launch your own investing career. Wouldn't you like to know how to react when you're turned down for a loan? Today, you'll learn how!From a duplex purchase that seemed doomed when he lost his job while in escrow... to a triplex purchase that a bank wouldn't touch, this Louisville, KY investor breaks down how he reached 5 doors by age 24 – and his exact roadmap to reach financial independence by age 30!Oh, and don't miss the story of how Aaron wound up on the show (hint: his fiance is the real MVP!). Before you go, here's a challenge for you: who in your market would make a great guest for this show? Send them over to biggerpockets.com/guest and we'll take a look at their application.In This Episode We Cover:His "work backwards" plan for achieving financial freedom ($10k/month) by age 30Aaron's process for "driving for dollars"Living for free through house hackingBuying a "1% rule" triplex using seller financingHow he achieved a 47% cash-on-cash returnHow he and his fiance adjusted when he lost his job while under contract on his first deal!Getting your spouse or partner interested in investingAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastBiggerPockets MoneyBiggerPockets BusinessBiggerPockets Podcast 329: Financial Freedom Before 30 Through Just 10 Deals With Felipe MejiaRobert KiyosakiCozyStessaDeal CheckDeal MachineZillowCheck the full show notes here: https://www.biggerpockets.com/rookie27
Derek Tellier didn’t start investing in real estate until he was over 40. Unhappy with what was going on in his life, a friend plugged him into healthy eating, exercising, and long-distance running. Once his health was back on track, he realized he didn’t like the trajectory his life was on, and made major changes.That same running friend introduced him to real estate investing. Derek got licensed, joined his friend’s real estate team, and bought his first real estate deal - a cabin that he rents out short-term in the Smoky Mountains.Derek has parlayed that into a career, helping people invest in short term rentals in the Smoky MountainsDerek’s Rookie Deal is a BRRRR property that needed a LOT of work. He financed it using private money and after his rehab he was able to pull out ALL of the money he had into the deal. It even cashflows $350 per month!Derek has had some growing pains along the way, like a true real estate investor. He shares tips for finding contractors, finding lenders, and finding deals in this episode, along with discussing numbers and the importance of having reserves.If you think you waited too late to start investing in real estate, this episode can help change your mindset and show you that it’s never too late to get started.In This Episode We Cover:How a midlife crisis made him start investing in his 40sBuying short-term rentals during COVIDHow he funds deals using private moneyHis BRRRR strategyHow his mentor helped him get 7 deals in 6 monthsHow he got the word out there by starting his own meetupAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastRookie Podcast 23: From Dave Ramsey Disciple to No-Money-Down Real Estate Investor with Sarah BrandenbergerRookie Podcast 19: Going Full-Time as a Rookie Right Out of College With Arvi Carkanji and Dave ArlaudRookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1Rookie Podcast 13: How Drew Pulled 6 Deals From His First Direct Mail Campaign With Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 2BiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery CarlThe Short Term ShopAirbnbUberVrboBiggerPockets Podcast 352: No Driver’s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 DoorsThe Daily Stoic PodcastRyan HolidayCheck the full show notes here: http://biggerpockets.com/rookie26
Here, by popular demand: the Appraisal Episode!Josiah Smelser – podcaster, two-time BiggerPockets Real Estate Podcast guest, and Certified General Appraiser – is here to answer your many questions, and he delivers the goods.We played some questions from the Rookie Request Line and touched on subjects like which data and documents you can provide an appraiser, how to challenge an appraisal, and how to keep your emotions in check when estimating After Repair Value.Whether you're a rookie who plans to flip, BRRRR, or invest in rental properties, understanding how properties are appraised – and the mindset of an appraiser – is key to coming out on top. So enjoy this episode, and tell Josiah what you think in the show notes at biggerpockets.com/rookie25.In This Episode We Cover:Getting inside the mind of an appraiserWhat information you can and should provide an appraiserThe top 3 variables that determine valueApproaching the appraisal process with "data and humility"How appraisals vary by marketThe Sales Comparison Approach vs. the Income ApproachKitchens, bathrooms, and added square footageHow doing unpermitted work can come back to bite youWhy you should never outright ask an appraiser to come back with a specific numberThe right way to challenge a low appraisalAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastBiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)BiggerPockets Podcast 382.5: Surviving When the BRRRR Hits the Fan with Josiah Smelser (Part 2, Post-Coronavirus)CBRERookie Podcast 11: Using Home Inspections to Spot “Deal Killers” and Negotiate Better Prices with Rose BuckleyUSPAPBiggerPockets GlossaryGrant CardoneRookie Podcast 23: From Dave Ramsey Disciple to No-Money-Down Real Estate Investor with Sarah BrandenbergerCraigslistZillowTruliaInstagramCheck the full show notes here: http://biggerpockets.com/rookie25
On today's show: how U.S. Army Staff Sgt. Naaman Taylor is combining house hacking, partnerships, and VA loans to build himself a comfy retirement... all while serving his country overseas!This episode has something for everyone – from structuring partnerships to stretch your dollar farther, to hiring property managers and identifying a trustworthy mentor.Be sure to let Naaman (he said we could call him "Taylor") what you thought of the show by visiting our show notes page at biggerpockets.com/rookie24 and leaving a comment... or sharing your thoughts in a post in the Real Estate Rookie Facebook Group.In This Episode We Cover:Planning for a financially secure retirement while working a steady military jobHow to use VA loans more than onceCommon mistakes when using a VA loanDuplexes vs. single family homesOvercoming an early bad experience with a tenantUsing Dave Ramsey's principles to save money for down paymentsThe advantages of a 50/50 partnershipGenerating "truly passive income" rather than creating a job for himselfHow to interview property management companiesTaking advantage of the "2 in 5" tax rule with your primary residencesHow to vet a potential real estate investing mentorAnd SO much more!Check the full show notes here: https://www.biggerpockets.com/rookie24
Interested in real estate investing... but wary of taking on debt?That's the situation Sarah Brandenberger found herself in, and today shares her journey from a staunchly anti-debt "penny pincher" to a creative financier raising private money!Sarah also gives us the goods on portfolio loans – including a ninja tip that allowed her to tap the equity in multiple properties and use those funds to take advantage of a smokin' deal. You'll learn what documents to bring when asking for a loan – whether you're meeting with a bank or a private individual. And Felipe throws in a Home Depot shopping hack for good measure.Give Sarah a follow on Instagram (@nerdsguidetoFI) and let her know what you thought of this episode... and share this episode with a friend or family member who would find it inspiring.In This Episode We Cover:How Sarah changed her mindset about "good debt"15-year vs. 30-year mortgagesThe data and documents she shares with potential lendersHouse hacking by turning her basement into a rentalUnlocking "the power of a cash offer" with private moneyTapping the equity on multiple properties at onceThe loan that's invisible to other banksUsing checklists to estimate rehab costs (even when you're brand new)Using Avail to manager her rentalsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastCozyZillowBuildiumDave RamseyMr. Money MustacheMadfientistPaula PantStealthy RichBiggerPockets ForumsRookie Podcast 01: From 4 Years of Analysis Paralysis to 4 Cash-Flowing Properties with Lauren and Kyle ClugstonThe Home DepotAvailRentals to WealthInvestor Girl BritReal Estate Old SchoolCheck the full show notes here: http://biggerpockets.com/rookie23
Curious how to manage a rental portfolio in your limited free time?Learn from today's guest Ruben Galindo, who had his hands full managing hundreds of law enforcement officers in Texas... but didn't let that stop him.Ruben is 48 years old, and in the past five years, he's acquired five rental properties that require about an hour of his time each week. In this episode, he'll teach you how he uses Cozy and Docusign to do everything virtually, how door knocking led to one of his best deals, and how he leverages his 401(k) in his real estate business.Ruben didn't jump in until his 40s, but he already has experience with buying a foreclosure, helping a seller avoid foreclosure, a short sale, and a straightforward live-in flip (where he currently lives). Not bad for a relative rookie!If you pick up any tips from Ruben or have questions for him, leave a comment in the show notes at biggerpockets.com/rookie22. And if you're feeling extra generous, leave us a rating and review in Apple Podcasts.In This Episode We Cover:How Ruben automates his rental property managementBuilding and maintaining a network of contractorsThe accounts where Ruben, Ashley, and Felipe hold their reserve funds (Rookie Request Line question! 1-888-5-ROOKIE)Buying a HUD foreclosureHelping a family avoid foreclosure by temporarily taking over paymentsHiring an attorney on a tricky pre-foreclosure dealHow door-knocking helped him beat his competitionHow to avoid over-leveraging yourself as a rookieAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastCozyZillowVenmoCash AppHUD Home StoreRookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse RasmussenAppFolioBuildiumBiggerPockets Podcast 352: No Driver’s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 DoorsBiggerPockets Events and MeetupsCheck the full show notes here: http://biggerpockets.com/rookie22
Rookie FAQ time!Today Ashley and Felipe run through the top 5 questions from the Real Estate Rookie Facebook Group and the Rookie Request Line (leave us a voicemail at 1-888-5-ROOKIE).From finding and financing deals to the infamous LLC question and beyond, our co-hosts offer their advice and discuss various approaches new investors can use to build momentum. Plus, former BiggerPockets Real Estate Podcast guest Whitney Hutten makes a cameo to offer her two cents on how to properly vet turnkey providers.What did we miss? Let us know, and make sure you're subscribed to the show so you won't miss an episode.In This Episode We Cover:Various approaches to financing a deal Methods for finding deals when you're new to the gameThe one question you should ask every turnkey company (you probably haven't thought of it)Owning property an in LLC How to decide whether to get your real estate licenseAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastBiggerPockets CalculatorsBiggerPockets ForumsFacebook MarketplaceCraigslistRookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1Rookie Podcast 13: How Drew Pulled 6 Deals From His First Direct Mail Campaign With Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 2Ryan Dossey's InstagramBiggerPockets Podcast 340: How a Mom with a Full-Time Job Bought 10 Houses Her First Year with Whitney Hutten Check the full show notes here: http://biggerpockets.com/rookie21
Today: how Lexington, KY investor Charlie Ashley uses lines of credit and construction loans to build his portfolio while working full-time.Charlie walks us through his year-long education phase, his first couple deals, and the expensive lessons he learned while renovating a property he lovingly calls "The Pit"!Sure... finding deals is important. But today you'll learn how understanding financing has helped Charlie gain a lot of momentum quickly – and how every new investor can do the same.Thanks for spending time with us every Wednesday. If you like what you hear, let us know with a rating and review in Apple Podcasts... or share this episode with a friend or family member!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastBiggerPockets Podcast 329: Financial Freedom Before 30 Through Just 10 Deals With Felipe MejiaBiggerPockets Podcast 384: Losing $60k on His First 2 Flips so You Won't Have To with Spencer CorneliaRookie Podcast 17: 3 Rentals in His First Year & the Power of a Real-Life ‘Rich Dad’ Mentor with Derrick Ziglar Jr.Google SheetsCheck the full show notes here: http://biggerpockets.com/rookie20
In today's episode, you'll meet a power couple who both immigrated to the U.S. seven years ago and soon decided real estate would be their path to financial freedom.Arvi Carkanji and Dave Arlaud are Nashville-based flipper-investors, who are dividing and conquering to run a successful business while building a stable of rental properties. Arvi handles acquisitions (listen for the Rookie Request Line about direct mail), while Dave is a licensed contractor who takes charge of construction.Together they walk us through their approach to renovating houses and working with subcontractors and dive into the deal that motivated Arvi to quit her first (and quite possibly last) "real job."If you're thinking about taking on "value-add" projects—and you probably should be—listen close to hear these two rookies walk us through their process!In This Episode We Cover:How Arvi and Dave wound up as real estate investors just a year out of collegeHow they work with contractors, step by stepDave's "25-25-50" payment plan for contractorsThe different stages involved in renovating a houseRed flags to look for when inspecting workDue diligence and permitsTransforming a single-family home into a duplexRaising private money as a newbieRenting staging furniture from companies like Rent-A-CenterAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastRookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1Rookie Podcast 13: How Drew Pulled 6 Deals From His First Direct Mail Campaign With Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 2BiggerPockets ForumsRent-A-CenterRookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse RasmussenRookie Podcast 17: 3 Rentals in His First Year & the Power of a Real-Life 'Rich Dad' Mentor with Derrick Ziglar Jr.Check the full show notes here: https://www.biggerpockets.com/rookie19
She read Rich Dad Poor Dad, got angry at herself for not having built multiple income streams... and decided to do something about it! Tricia Baxter is a real estate rookie who got in the game in her mid-40s. In this episode, she shares how she built a healthy portfolio of small multifamily properties on the Jersey Shore.Tricia's a busy professional with her own law practice, but she still decided to self-manage when she got started—namely, to learn the ropes and create standard operating procedures, which came in handy when she eventually hired a property manager (spoiler: that's her MVP!).This episode is full of great tips for anyone who aspires to treat their real estate investing like the business it is!In This Episode We Cover:Self-managing your first property as a learning exerciseWhy Tricia chose to buy long-term rentals in a touristy areaHow she finds great vendors using private Facebook groupsHow to handle raising below-market rentsHer tips for financing deals creativelyJuggling real estate with a demanding careerThe importance of multiple income streamsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastTony RobbinsRobert KiyosakiBiggerPockets InsightsBiggerPockets Wealth MagazineBiggerPockets CalculatorsCheck the full show notes here: http://biggerpockets.com/rookie18
From humble beginnings... to Division 1 football, military service, and now three rental properties in his 20s!Derrick Ziglar Jr. is a man on a mission, and today he shares how he converted a wrong turn into a $30K duplex purchase that kick-started his journey toward generational wealth.If you're interested in securing your financial future, then don't miss Derrick's tips on how he finds deals, how he uses a personal line of credit, and the lessons he's learned about managing contractors.Plus, we go in-depth on how he built a life-changing relationship with a mentor/father figure and the importance of casting a long-term vision for your real estate business—no matter your goals.Derrick is an impressive rookie investor, and he doesn't hold back in this one... so hit play now. And if you enjoy this episode, please leave us a rating and review in Apple Podcasts!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastZillowRedfinAudibleThe Biggerpockets MagazineRookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse RasmussenRobert KiyosakiGrant CardoneCheck the full show notes here: http://biggerpockets.com/rookie17
What better way to learn a concept than a real-life, real-time case study?Today, we listen in on rookie investor Jamie Gallagher as he compares and contrasts two markets. Meanwhile, BiggerPockets' data wiz David Meyer is there to walk him (and us) through the numbers.You'll learn how to use population growth, rent-to-price ratio, rent-to-income ratio, and historical performance to weigh the pros and cons of various markets so you can compare apples to apples.These aren't the only factors to consider, but this episode will give you a solid grasp of the basics and put you way ahead of most investors in your search for a market that makes sense for you and your goals.Be sure to check out BPInsights, the new Pro member benefit bringing you fresh, local real estate data, at biggerpockets.com/insights (use the promo code "ROOKIES" for a discount if you're upgrading to Pro!). And you can find more of David's work in BiggerPockets Wealth magazine at biggerpockets.com/magazine.In This Episode We Cover:The most important data points to consider when choosing a marketWhat rent-to-price ratio isWhat rent-to-income ratio isHow to look at a market's performance throughout economic cyclesHow job and population growth affects appreciationWhat types of employers to look forQuality of life factorsAnalysis of Cleveland vs. Columbus, OhioAdvice for a future house hackerAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastRookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse RasmussenBiggerPockets Wealth MagazineBiggerPockets ProCase-Shiller IndexBiggerPockets InsightsZillowBiggerPockets CalculatorsBiggerPockets Podcast 379: What the Numbers Reveal About Today’s Rents, Prices, and Top Cashflow Markets with Data Scientist Dave Meyer Check the full show notes here: http://biggerpockets.com/rookie16
In 2017, she had done zero deals. Today, she's got 20 units and is nearing her goal of financial freedom by age 45.In this episode, Elyse Rasmussen shares five tips for rookies interested in long-distance investing... although each can easily be applied to investing in your own backyard, too.Check out her Instagram page @investingforfinancialfreedom for some #landlordmemes, and be sure to join the Real Estate Rookie Facebook group to tell us what you think of this episode!In This Episode We Cover:Elyse and her husband's plan to reach financial freedom by age 45What to look for when choosing a market out of state (climate, natural hazards, tax policies, etc.)Joining a network of long-distance investors to find referralsFinding and vetting a dual property manager/real estate agentHer approach to insurance policies for 19 propertiesBuying properties at online auction, step by stepAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastHow to Buy Real Estate & Build Your Portfolio Fast! ("The Stack!")Marshall ReddickBiggerPockets GlossaryBiggerPockets GuestNational REIAMeetup AppBiggerPockets Events and HappeningsBrandon Turner's BiggerPockets ProfileAuction.comXomeCashflow QuadrantCheck the full show notes here: http://biggerpockets.com/rookie15
Between his career and a podcasting side hustle, Robert Leonard's a busy guy. So how does he—and how can you—build a small but mighty rental portfolio in your spare time?For Robert, it comes down to 4 major elements:1. Use a series of house hacks to lower expenses and build equity.2. Find an MVP real estate agent.3. Align with a partner.4. Invest out-of-state.In this episode, Robert goes into detail on each of the above and explains how they helped him break through "analysis paralysis" in his early 20s. If you pick just one of these strategies and do it well, you'll be way ahead of the game. When you combine several, you're on your way to financial freedom.Be sure to check out Robert's two podcasts, Millennial Investing and Real Estate Investing over on The Investor's Podcast Network, and subscribe to Real Estate Rookie so you won't miss our next show.Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramRookie Podcast 11: Using Home Inspections to Spot “Deal Killers” and Negotiate Better Prices with Rose BuckleyBiggerPocketsREI013: Getting Started in Rentals and Flips With J ScottCity DataAxiom BankBiggerPockets BookstoreBiggerPockets PodcastCozyStessaBiggerPockets Podcast 383: Finding Your Perfect Partner and the Top 6 Factors When Choosing a Market with Ben Leybovich & Sam GroomsZillowCheck the full show notes here: http://biggerpockets.com/rookie14
Everything you've ever wanted to know about direct-to-homeowner marketing... but may have been afraid to ask!From exactly what Drew writes in a letter, to how he builds rapport when running an appointment, to making offers and getting to the closing table, it's all here in plain English.This episode follows up on show #9, where mentor/mentee duo Ryan Dossey and Drew Wiard broke down how Drew built a brand and zeroed in on his target market. Today, they walk us through everything that happens after a lead comes in, including how Drew was able to close three deals and get three more under contract in the past three months—despite the pandemic.If you're tired of seeing all the good deals go to other investors, take matters into your own hands and put some of their tips into action! And be sure to subscribe to Real Estate Rookie in your favorite podcast app so you won't miss the next one.In This Episode We Cover:Drew's results from his first direct mail campaignMarketing to an "absentee owners with equity" listKeeping your marketing message simpleWhy Drew's letters don't acknowledge the homeowner's hardshipWhy response rate is the wrong metric to focus onUsing "75% of ARV minus repairs" to formulate offersOvercoming objections when you're negotiating a pricePutting an inspection period in your contractFinding real estate agents who work with cash buyersDrew and Ryan's personal real estate investing MVPs And SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramRookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1Rookie Podcast 12: What Works (and Doesn’t) in a Recession & the Untold Story of J Scott’s Messy First FlipRookie Podcast 11: Using Home Inspections to Spot “Deal Killers” and Negotiate Better Prices with Rose BuckleyBuild The BEST Cash Buyers List In 2020 (Ryan's Video)PropStreamREsimpli Check the full show notes here: http://biggerpockets.com/rookie13
BiggerPockets legend J Scott was once a rookie, and he's got the stories (and scars) to prove it!Today J stops by to give us a primer on economic cycles and how they impact real estate investors. You'll learn what to expect when housing prices soften and which strategies work best in each economic phase. Plus, J shares the tale of his first (years-long) flip, tells us what he's learned along the way, and delivers a surprising top tip for today's rookie real estate investor.For more on this topic, pick up a copy of J's newly updated book Recession-Proof Real Estate Investing here.In This Episode We Cover:Economic cycles throughout historyWhich strategies tend to work well at each point in the cycleJ's first flip as a complete newbieThe systems he developed over the yearsHow he's shoring up his cash positionOpening credit linesAdjusting to a new lending environmentAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets Business PodcastBiggerPockets Real Estate PodcastBiggerPockets BookstoreBiggerPockets ForumsBiggerPockets BlogsBiggerPockets Podcast 381: 5 Rules for Investing in a Down Market with Tucker MerrihewRookie Podcast 07: 6 Things New Investors Should Be Doing Right NowBrandon's BiggerPockets ProfileFelipe's InstagramAshley's InstagramCheck the full show notes here: http://biggerpockets.com/rookie12
OK, you've got a property under contract. Now the real work begins!In today's episode, you'll learn all about about a crucial step in the home-buying process: home inspections.Find out how they work, how much they cost, and how they could wind up saving you a boatload of cash—or help you negotiate a sweet deal!Rose Buckley is a certified home inspector who has walked 1,000-plus homes. And with her background in teaching and translating, she enjoys breaking down this part of the business for up-and-coming investors.Rose shares her tips for finding a great local inspector and reveals which defects are no biggie, which are challenging, and which ones can be "deal killers."And yes. We, too, noticed Rose is a female in a male-dominated profession. That led to a great discussion about how she approaches that challenge, how sometimes it's actually an opportunity, and why training as a home inspector—regardless of your gender—may get you closer to your investing goals.Subscribe to Real Estate Rookie in your favorite podcast app, and if you enjoyed this episode, please pass it on to just ONE friend or family member who might, too.In This Episode We Cover:What makes a great home inspectorUsing an inspection report in price negotiationsThe most common issues Rose runs intoWhy water is the real estate investor's No. 1 enemyThe time she spent 8 hours inspecting a single houseHow to spot sloppy work in a house that's been flippedTermite and pest infestationsGFCI outlets in bathrooms and kitchensRose's experience as a female in a male-dominated industryHow becoming a licensed inspector could make you a savvier investorAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastHTTV - TVFelipe's InstagramAshley's InstagramSummer Maintenance ChecklistFall Maintenance ChecklistWinter Maintenance ChecklistSpring Maintenance ChecklistRose in T-Rex Costume (Video)Rose's Inspector Story Time (Video)Check the full show notes here: http://biggerpockets.com/rookie11
Tony Robinson had every excuse NOT to invest.Expensive local market? Demanding full-time job? Family responsibilities?Check, check, and check.So, how did he pull off his first two deals in a cash flow-friendly market 1,500 miles away?Today, Tony spills the beans: how he got a bank to loan him 100% of purchase AND rehab cost, how he managed contractors from afar, two crucial lessons he learned on his first deal, and much more.Tony shares tip after tip for investors like you—especially if you live in a pricey area (he lives in Southern California and invests in Shreveport, Louisiana).Plus, he dives into the mindset shifts that helped him break through—and how becoming a father at a young age led to a goal of achieving financial independence.We guarantee you'll get value out of this episode. If you agree, subscribe to the show and give us a rating and review in Apple Podcasts. See you next Wednesday!In This Episode We Cover:How Tony got past a failed first dealZeroing in on one zip code when looking for dealsWhy he chose to invest in Shreveport, LAHow he pulled his money out by refinancingWhy real estate is "80% mental"Finding a real estate agent and property manager out-of-stateManaging renovations remotely using FaceTimeHow a local bank funded 100% of his projectsHow a construction loan works and what "draws" areAnalyzing local rentsWhy he locked in his tenants on a 2-year leaseAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastRookie Podcast 08: Why Pay Someone Else’s Mortgage? Ditching $20K/Year Rent with Mallori and LucasBrandon Turner's InstagramZillowBiggerPockets ForumsCashflow GameBiggerPockets ConferenceCheck the full show notes here: http://biggerpockets.com/rookie10
loading
Comments (8)

PregnantNuns

recession proof real estate investing

Aug 27th
Reply

PregnantNuns

nvm he has a book lmao

Aug 27th
Reply

PregnantNuns

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?

Aug 27th
Reply

David D Carroll

Another fantastic podcast. I'm still househacking as my first deal.

Jun 4th
Reply

David D Carroll

Great explanation of when balloon payments are useful. Thanks!

Apr 16th
Reply

John Rice

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?

Apr 4th
Reply (1)

Rick Doctor

I am super excited for this show. Can't wait!

Mar 4th
Reply
Download from Google Play
Download from App Store