DiscoverReal Estate Rookie
Real Estate Rookie
Claim Ownership

Real Estate Rookie

Author: BiggerPockets

Subscribed: 1,167Played: 11,924
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.

13 Episodes
Reverse
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
Can't find deals on the MLS? Dreaming about off-market deals, but not sure how to go after them?Today's show lays out a step-by-step, repeatable strategy for those of you who have what it takes to approach homeowners directly. It's not easy. It takes patience. And It costs money (or time). But for those precise reasons, it's where the real money is.Today we bring in Drew Wiard, a Fort Wayne, IN investor with a family and a full-time job. He's joined by his mentor, Ryan Dossey, a former BiggerPockets Podcast guest who built his 100+ unit portfolio by creating a pipeline of off-market deals.The guys walk us through how to build a brand that stands out from the competition, how to establish authority online, and how to pull lists full of juicy leads. This is not vague advice... they reveal the exact systems and resources they're using to find and contact sellers (not all of whom fit the "desperate/distressed" stereotype, by the way)!Plus, we have a great conversation about mentoring in general – how to find and vet teachers, how to deliver value, and how to hold one another accountable along the way.This is actually Part 1 in a series; we're going to invite Drew and Ryan back next month to tackle the second piece of this puzzle: handling leads, negotiating with sellers, and crafting your exit strategy.If you think you have what it takes to find off-market deals, this episode is a perfect starting point. Be sure to subscribe to the show in your favorite app, and we'll see you next Wednesday!In This Episode We Cover:Building a local community-oriented brand when marketing to sellersHow to differentiate yourself from other "We Buy Houses" competitorsSetting up a Carrot websiteCreating a web presence to build authorityHow to identify the hottest zip codes in your areaBuilding "niche" marketing lists using online public recordsHow to generate off-market leads without quitting your day jobEye-catching direct mail piecesThe Customer Relationship Management (CRM) system Ryan and Drew useHow Ryan holds Drew accountable to his goalsHow to bring value to your mentorHow Drew makes time for investing despite having a demanding job and a familyAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastRyan's Member's BlogCarrotMondayListSourceDealMachineBiggerPockets Podcast 335: 70+ Units Per Year and How Exactly to Make a Lowball Offer with Ryan DosseyHow to Find Cash Buyers Tutorial (Max Maxwell)REsimpliCall PorterCheck the full show notes here: http://biggerpockets.com/rookie9
Banks tend to love a certain type of borrower... and Mallori and Lucas don't quite fit the mold.They're not 9-to-5ers. They rely on tips and seasonal work. And they live modestly but aren't swimming in cash. So, when they took the plunge into real estate investing—in pricey Tacoma, Washington—they had some work to do to become "bankable."Today you'll learn how despite a few roadblocks, they dumped their rent payment and pulled off their first-ever home purchase: a house hack in an up-and-coming area. From shopping around between banks, to securing a "rehire" letter to verify employment, to negotiating "early access" to the property and doing some repairs before closing, this episode is full of great tips for those just starting out.Also—it's a reminder that "sweat equity" doesn't always mean physical labor. Sometimes it's just as important to stay focused and organized when it comes to the huge amounts of paperwork involved in a real estate transaction!Let us know what you think of the show in our Facebook group (just search "Real Estate Rookie"), and subscribe so you won't miss out next week. See you Wednesday!In This Episode We Cover:What Mallori and Lucas learned from a first-time homebuyer classThe mindset shift that helped them overcome their fearsHow they avoided analysis paralysisGetting access to a property to do repairs before closingHow they ensured their property passed the appraisalHow they got free carpet for their rehabHow blue-collar workers can be real estate investors, tooHow seasonal workers can make themselves more bankableWhat a "rehire letter" isHow they analyzed several house hack dealsWhy listings with one Google Street View photo can be hidden gemsWebsites where they check rent compsWhy their real estate agent turned out to be their "MVP"And SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastBiggerPockets Youtube ChannelRedfinBiggerpockets CalculatorsBiggerPockets ProWashington State Housing Finance CommissionBiggerPockets Hard Money LendersZillowHotpadsPadmapperCheck the full show notes here: http://biggerpockets.com/rookie8
If you've been telling yourself, "I'll invest in real estate when prices come down," well... that time may be coming.So, what should rookie real estate investors be doing now to prepare?Today we outline six action items—from shoring up your financial position to making yourself an attractive partner. Also, we bring back the "Rookie Request Line" so you can hear Ashley and Felipe's answers to a few questions from the audience.If you feel stuck, fearful, or just restless while you're cooped up inside... then check out this episode and take action!If you're enjoying the show, please take 30 seconds to give us an honest review on Apple Podcasts.See you next Wednesday!In This Episode We Cover:How to secure long-term debt nowHow to make yourself bankableWhy now is the perfect time to practice analyzing dealsWhy you should take a fresh look at your tenants' leasesHow to make yourself an attractive real estate partnerWhat balloon payments are and how to plan for themEmergency preparedness proceduresGetting your mindset right before jumping into real estate investingAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupDave RamseyApartments.comRookie Podcast 03: Coronavirus Crash? Dos and Don’ts from Recession Veterans Joe Asamoah and Steve RozenbergRookie Podcast 06: The Ultimate Beginners Guide to Tenant Screening with Lucas HallCheck the full show notes here: http://biggerpockets.com/rookie7
Today we tackle the often-overlooked -- but perhaps most important -- element of real estate investing: actually placing a (great!) resident in your property.Our guest Lucas Hall built website Landlordology.com (which he later sold to Cozy, where he now works) and is an expert on best practices for landlords self-managing small portfolios (that's you!).Lucas walks us through his exact process from the moment he lists a property for rent, to the moment he signs a lease -- AND explains what's changed (and what hasn't) since the COVID-19 outbreak began.Want to avoid evictions and vacancy? Listen up...⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀Lucas has been a landlord for 10+ years, owns 4 properties across 3 states. Yet he still hasn't had to evict anybody. That's not an accident; it's the result of a firm but fair process he follows every time there's a vacancy.Plus, we add a fun twist toward the end of the episode when a rookie investor -- Andrés Bustamante -- jumps on the call to ask some GREAT questions about his own current search for a tenant.This is a timeless episode that will be just as relevant years in the future. Check it out now, and subscribe to Real Estate Rookie so you won't miss the next one.See you next Wednesday!In This Episode We Cover: - The importance of "pre-screening" over the phone- Online tools to run background and credit checks- Why you should always check an applicant's social media profiles- The income-to-rent ratio Lucas uses to qualify tenants - Why gathering social security numbers is overrated- Photo ID checks- Where to find classes on how to be a fair, ethical landlord- How to follow fair housing laws- What Lucas thinks of "cash for keys"- Whether to accept pre-payment of rent- Co-signing/guarantor arrangements when a tenant has no income- How to show properties during the COVID-19 quarantine- Handling late and non-payment of rentAnd much more!
Yes, newbies ARE still closing deals out there.This week, we talk to three up-and-coming investors who either recently closed or are currently under contract on investment properties. Despite entire parts of the economy being shut down, real estate continues to be classified as "essential" -- and Jeremy Goldizen (Avon, OH), Kristen Johnson (Columbia, SC), and Rafael Estrada (Denver, CO) are all taking advantage. This episode was streamed as a Facebook live, so our audience pitches in and puts some timely questions to our guests and hosts. How did Jeremy score a 55% discount on a house he plans to BRRRR?How did Kristen find the wholesaler who brought her the perfect rental property?And how did Rafael shift his strategy when coronavirus hit and flipping no longer looked like such a great idea?Hit play, and get answers to all those questions and more.Next week, we'll be talking about how to screen and work with tenants in the current environment. You won't want to miss that one... so subscribe to Real Estate Rookie in your favorite podcast app, and we'll see you next Wednesday!
In this episode, we hand the mic over to YOU.Yesterday (March 24) Ashley and Felipe took took live listener calls and real-time questions from Real Estate Rookie Facebook group members."Should I go through with my deal?" "How do I handle my short-term rental?" "How are more experienced investors shifting their big-picture strategy?"Those are just FEW of the questions we take on in this fast-paced episode.What do you think of this format? Let us know in the Real Estate Rookie Facebook group -- and tell us what topics you want us to tackle next week.This are disorienting times for investors of ALL skill levels... but by sharing information and resources, we put ourselves in the best possible position to build wealth throughout good markets AND bad.See you next Wednesday.
It's a new week... and, seemingly, a new world.So -- we've got a new (and very fresh) episode for you... with a twist on our usual format.On Tuesday, March 17, Ashley and Felipe sat down with Joe Asamoah and Steve Rozenberg to discuss the topic on everyone's mind: the COVID-19 outbreak and its inevitable impact on real estate investors.Think of it as a virtual coaching session with two seasoned, successful investors who have withstood several downturns and lived to tell about it.Joe and Steve have a combined 50 years of experience under their belts, so they offer a valuable perspective to younger or less experienced investors -- our fearless co-hosts included -- who haven't yet seen a full real estate cycle.This episode covers it all -- from the mindset successful investors use to accelerate wealth-building through downswings, to the shifting competition you're likely to face, to how to whip your finances into shape and secure lines of credit BEFORE you need them.Plus -- Joe breaks down how renting to Section 8 voucher holders can be a lifeline during a recession (assuming you do a few things exactly right), and Steve shares his tips for designing systems and checklists (he's a pilot after all!) so you can think clearly... even when you're steering into economic headwinds.This episode is GOLD for investors on the hunt for their first, second, or third deal in 2020... Stay safe, everyone -- and we'll see you next Wednesday.In This Episode We Cover:Why the first thing we should all do is "take a breath"The importance of a well-thought-out business planLearning from local investors who thrived during past crashesWhy you're likely to see more flippers leasing out housesWhy taking out a HELOC may make sense right nowTreating tenants like customers to reduce turnoverWhy Joe believes "your tenant is the true asset"What Steve learned from 9/11 and Hurricane HarveyLearning from your own (and others') failuresAnd SO much more!Links from the ShowRookie Request Line: 1-888-5-ROOKIE to leave a voicemailReal Estate Rookie Facebook GroupBiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe AsamoahBiggerPockets Podcast 343: Want to Work Less and Earn More? Think Like a Pilot! With Steve RozenbergNational Real Estate Investors AssociationBiggerPockets EventsGrant Cardone on Multifamily Investing and Why You Should Never Buy a House!BiggerPockets Business PodcastBiggerPockets Real Estate PodcastMynd.coCheck the full show notes here: http://biggerpockets.com/rookie3
Ever felt like you're close to breaking into real estate investing, but not quite getting anywhere?Today's guest, Tim Goutos, was right there with you. But after taking a trip abroad to clear his head, Tim narrowed his focus and went ALL-OUT in pursuit of his first deal.He talked to everybody about his goal. He went driving for dollars in his hometown of Lake George, NY. Then, after seeing a For Sale By Owner (FSBO) sign, he called the owner on the spot.What happened next? You'll hear the story in today's episode of the Real Estate Rookie Podcast.We'll cover how to manage fear when making a cold call, how to crunch the numbers using government tax records, and how to protect yourself against the worst-case scenario.Plus -- if you know anyone who got burned in 2007-08.. or worry you'll meet the same fate... you'll connect with Tim's story. He had a close relative who lost out in the last downturn, so he had every reason to stay far away. Instead, Tim learned all he could and put together a more conservative game plan."Captain Tim" is a relatable, down-to-earth guy... and you can learn a lot from his approach of looking to "get on base" rather than hit a home run right away.Tell us what you think of this episode in the Real Estate Rookie Facebook group, and subscribe to the podcast in your favorite podcast app so you won't miss the next show!
How will YOU transition from the "getting educated" phase to taking direct action toward your real estate goals?Start by taking cues from Lauren and Kyle!In this premiere episode, they share how they powered through their initial hesitation to build a "small but mighty" rental portfolio in less than 3 years' time... a portfolio that has them well on their way to a life of financial freedom (and maybe even a "boat house!").You'll love their tips for identifying the right market for you, minimizing risk by house hacking, and leveraging your local meetup group to get the scoop on real estate trends in your area.Plus, they guide us through their first "true" BRRRR deal—sharing lessons from their experience negotiating directly with a seller, firing a contractor, and finding time to DIY a lot of the renovation, all while juggling two full-time careers.Lauren and Kyle may seem like sophisticated investors now. But in 2017, they were right where a lot of you are today. By following their roadmap and adjusting it to your market, you too can build a mini-empire that funds the life you dream about.Make sure to subscribe to Real Estate Rookie in your favorite podcast app, and join our Facebook group (just search "Real Estate Rookie") to continue the conversation. See you next Wednesday!In This Episode We Cover:Lauren and Kyle's backstoryHow Lauren overcame 4-year analysis paralysisHow Lauren and Kyle balance full-time careers with real estate investingHow the BRRRR strategy worked for themWhy they let other investors (their “competition”) walk through their propertyWhy their MVP is their real estate meetup groupRookie Request Line: "What is your best advice for finding real estate agents who know what they're doing with investors?"And SO much more! Check the full show notes here: http://biggerpockets.com/rookie1
Trailer

Trailer

2020-02-1901:143

Coming March 5, from BiggerPockets. Subscribe wherever you listen to podcasts!
Comments (3)

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

Rick Doctor

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

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