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Real Estate Rookie

Author: BiggerPockets

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

59 Episodes
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Everybody knows someone who has attended some kind of course, workshop, or “guru” consulting. Maria Acosta attended one after watching HGTV, and ended up buying her first rental property from someone at the conference. What she thought she was getting was a turnkey duplex that had professional management and was rented out on both sides. What she actually got was a trashed duplex without tenants and a roach infestation. Bad luck right? Thankfully, Maria isn’t a quitter, and all that did was inspire her to be more diligent with her future deals. Now, that same property has healthy cash flow each month (and no roaches). Maria has gone on to do a few flips, a couple wholesale deals, and owns 8 units throughout the United States. She’s learned some impactful lessons along the way, like how to fire and hire a property manager, what to look for in a pre-foreclosure property, and how to get a subject to deal under contract.Maria has been through some tough scenarios that many experienced real estate investors would have never dreamed of. Ever had to track down the brother of a partner of a seller who has no address? Maria has done it. Ever had to get a father who is in a correctional facility in another state to sign a power of attorney for a property? Maria has done it. She’s hired multiple VAs, set them up on a system and schedule to find off-market deals, and created a small real estate empire that is growing day by day. This is what hustle and grit looks like in a rookie! 
This week’s question comes from Cory on the Real Estate Rookie Facebook Group. Cory is asking: Owner financing would buy me some time to get the property rented and cash flowing as well as build some equity before taking it to my bank for conventional financing. Any tips, suggestions, stories on doing this? Many real estate professionals have an opinion on owner financing (also called seller financing). Some love it, some hate it, and some just haven’t had any experience with it. Ashley has had some great experience not only owner financing a package of properties for sale, but also being the owner who has financed her property when selling it. Here are some of Ashley’s suggestions:Show the seller that you’re financially stable with some key documents Work with the seller to find terms, interest rates, and payment options that work for you bothAsk the seller what they need to make this deal work for themDraw up a letter of intent and attach an amortization schedule Get it structured and drawn up legally with your lawyer If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Talking to Tyler Madden for any more than a minute, you can tell that he’s a smart guy. But would you ever guess a general contractor and real estate investor has degrees in biology and chemistry? Probably not!Tyler went to school to be a doctor, but after leaving school he found himself in the restaurant industry. He was serving tables, which later turned into bartending, and later managing the restaurants himself. He enjoyed the growth he found in the restaurant industry but realized that there was a cap to the success. At the same time, Tyler was fixing up his primary residence every so often, learning new tricks of the trade from online. He got so good at fixing up his own house, other people started asking him to take care of projects on their houses. Tyler loved fixing up houses, and decided to get his general contractor license and start up his own business. Tyler was even inadvertently house hacking and doing a live in flip/rehab on his first primary home without even realizing it. He rented out a room in his house while he was fixing up the property, which helped him cover a lot of costs. When Tyler and his wife decided to move into another house, they kept it as a rental property, and held on to a LOT of equity that he is now using to pursue future deals.He’s had a fire in a home, a break-in, and at one point had 40 cop cars surrounding him with guns drawn (he shares in the episode). Tyler is an interesting guy, and has a lot of knowledge to share on rehabbing, contracting, cost estimating, and financing! In This Episode We Cover:How doing a great remodel can boost up the price of your house significantlyTaking out HELOCs (home equity lines of credit) and keeping them around for future financing optionsStarting an LLC so you can take advantage of financing later onUsing high-end finishes vs. using standard finishes for rentalsHow to get your spouse on board when they are worried about real estate riskMaking offers on and off market so you can get a deal in an expensive areaAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastAshley's InstagramTony's InstagramRedfinZillowRookie Podcast 48: 4 Ways Newbies Can Finance Deals with Richard KellyBiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl YarberBiggerPockets Podcast 438: The Ultimate Beginner’s Guide to Finding GREAT Deals in ANY Market with Anson YoungPropStreamCheck the full show notes here: http://biggerpockets.com/rookie55
This week’s topic comes from our hosts, Ashley and Tony. They’ve heard many rookies ask the same question: what are the BEST real estate apps to have? Well, Ashley and Tony have rounded up their favorite apps and created a list so you and your partners can invest more successfully and with less headache!Ashley and Tony break down some of the best apps that they use in their real estate investment careers. Here are some of their suggestions:Stessa: Manage the accounting and documents of a propertyPropstream: An easy way to get lists for off-market dealsWrike: Project management made easyDealcheck: Run your numbers quicker Google Voice: Keep your tenants and vendors off your personal cell phone with a FREE business numberEverlance: Mileage tracking for business travelingAnd More!If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE)Links from the ShowQuickBooksPropertywareAppfolioPodioZillowonX HuntLandGlidePersonal CapitalGoogle TasksGoogle CalendarGoogle DriveAsanaPriceLabsSmartbnbClick here to check the full show notes: https://www.biggerpockets.com/rookie54
Kristie LeSage didn’t mind her 9-5 much before she went on a hiking trip to Yosemite. When she turned her phone off for a few days, hung out with friends, and spent time in nature, she realized that she wanted more freedom in her life. After that hiking trip, she returned home to her husband and told him it was time for her to quit. The problem? She didn’t know how she was going to make money when she left her job.After doing some options trading and making money off of it, she made the decision to leave her job by the end of summer 2019. While she was trading, her husband was getting into the BiggerPockets community, and through some of her husband’s suggestions, Kristie found another way to make money. In August of 2019, they closed on a 4-plex in San Diego. A year and a half later, Kristie and her husband have an impressive 24 doors!Kristie walks through the benefits and struggles of owning multifamily properties both in and out of state. She also talks about the different types of funding she used in order to get them under contract, including conventional loans, HELOCs (home equity lines of credit), and commercial loans. Even without a W2 or 2 years of 1099 income, Kristie proves it’s possible to start your real estate journey regardless of where you’re at. In This Episode We Cover:The advantages of buying rentals in your state or out of stateWhy multifamily properties made the most sense for Kristie’s situationHow to leverage an array of financing options to get houses under contractHow to avoid mistakes when vetting tenants (plus what to look out for)Calculating your DTI (Debt-to-income) ratio before applying for financingSelf-managing multifamily properties even when they’re out of stateHow to show a house remotely (and safely)And SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastAshley's InstagramTony's InstagramBiggerPockets ForumsCashflow GameRookie Podcast 42: Bed and Breakfast House Hacking with Lauren Keen AumondRookie Podcast 49: Targeting New Builds to Get Around the W-2 Requirements for House Hacking with Andres BustamanteGuestHouse NetflixZelleVenmoCash AppQuickBooksStessaMint BudgetRentRediBuildiumAppfolioCheck the full show notes here: http://biggerpockets.com/rookie53
This week’s question comes from Meghan on the Real Estate Rookie Facebook Group. Meghan is asking: How do I keep up the momentum after closing on two deals, when my debt-to-income ratio is too high to get another loan? I’m too new to bring experience to the table, and without much cash or financing, what do I bring to the partnership?We’ve heard this A LOT from rookies, and this is one of the main reasons that rookie investors get stuck and stop investing consistently. Ashley and Tony both have some great advice on keeping the ball rolling so your investment portfolio keeps growing!Here are some suggestions:You always have some amount of experience that is valuable to a partnerFind strengths in yourself that partners may lackShare what you’re doing with other investors or in your social circlesBe confident on future deals: you’re bringing partners an opportunityLook into other types of lending like commercial lending If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).In This Episode We CoverDebt-to-income (DTI) ratios and how they affect loansGetting your personal finances together to show investors you’re responsibleWhat you should say to ANY investor who may be interested on partnering upFinding a strategy that fits into your lifestyleAnd More!Links from the ShowDavid Greene's BiggerPockets ProfileBiggerPockets MeetupsBrandon Turner's BiggerPockets ProfileCheck the full show notes here: http://biggerpockets.com/rookie52
Real estate investors are very busy people, and often, rookie investors become busier than ever as they’re learning the tricks of the trade. Kevin Christensen is no different, he works a full-time job, runs a retail store with 5 locations, and self-manages his long and short-term properties, all while doing some handyman work himself!As a United States Marine, Kevin was used to the “improvise, adapt, and overcome” mentality, which has served him well in his investing career. Kevin only started actively investing in real estate around 2 years ago, but has so far done 18 deals, won a lawsuit, and hired two full-time contractors for his properties. He runs a very tight ship, and doesn’t let much slip through the cracks.Kevin’s secret to success is centered around just being himself: work hard, be kind to others, and focus on customer service. As you’ll hear in the episode, Kevin was able to get a $350,000 house reduced to $190,000 simply by listening to the seller’s needs and being courteous throughout the transaction, something that the other wholesalers in his area failed to do.If you’re interested in subject-to properties, it will serve well to heed Kevin’s advice. He was sued in the middle of a subject-to deal while renting out a house as a short-term rental. Kevin walks through exactly why the sellers were suing, how he protected himself, and how he pulled in $14,000 of revenue in only around 2 months!You’ll probably hear Kevin on the BiggerPockets Real Estate podcast soon, because even though he’s a rookie in years, he’s a pro in experience!In This Episode We Cover:How to be a better wholesaler and listen to what sellers needGetting your spouse on board for real estate investingWhat a subject-to property is and how to facilitate a subject-to transactionThe best property management software (that’s also free!)The importance of having a W2 income if you’re going to BRRRR, flip, or buy long-term rentalsWhy short-term rentals can be serious cash-flowing investmentsWhen to BRRRR and when to flip (depending on your goals and finances)And SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastAshley's InstagramTony's InstagramRookie Podcast 32: Debt Free with 2 Rentals and Counting with 24-Year-Old ICU Nurse Prescott WilliamsCozySmartbnbPriceLabsCheck the full show notes here: https://www.biggerpockets.com/rookie51
Welcome to the first Rookie Reply episode of the Rookie podcast! We’ll be taking questions from Facebook, Instagram, the BiggerPockets forums, and maybe even the Rookie Request Line (Call us at 1-888-5-ROOKIE).This week’s question comes from Trevor on the Real Estate Rookie Facebook Group. Trevor is asking: What was the hardest part of getting started? What helped you overcome that obstacle, and how do you mitigate analysis paralysis? This is a question we often get, so it’s perfect for the first Rookie Reply show. Here are some suggestions:See the first deal as a learning opportunity Don’t let it become emotionalVerify your data and numbersHave another exit strategyGet an accountability partnerAnd more in the episode...If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group!In This Episode We CoverHow to overcome analysis paralysis Why you should know your “worst case scenario” and adjust accordingly to itHaving other exit strategies for your property Having reserves (or a partner with reserves)Taking the emotion out of the dealAnd More!Links from the ShowBP InsightsRookie Podcast 12: What Works (and Doesn’t) in a Recession & the Untold Story of J Scott’s Messy First FlipCheck the full show notes here: https://www.biggerpockets.com/rookie50
Not many college students get their real estate license while in college, let alone during freshman year. Andres Bustamante did just that, becoming a leasing agent so he could cover his housing and tuition costs. Andre didn’t know if he would go into real estate full-time after college, but when he found the BiggerPockets Podcast in the Summer of 2019, he decided to make the jump.Andres reached out to a guest on the show, who later became his mentor and asked Andres to join his team! In his first year of full-time real estate Andres managed to sell 15 houses, with 15 more under contract as we speak. He lives in a house hack, has another house hack under contract, and bought an AirBnB as a short-term rental.Since Andres had 1099 income he wasn’t able to take the traditional route to house hacking that W2 employees have available to them. Instead, Andres found new construction projects going up, put down earnest money for them, and locked in the deal. As Andres describes, he was able to get into these projects at “stage 1”, so as the builders were building, Andres was guaranteed a price for a house that was appreciating everyday in his growing market.As Andres has been house hacking he's come up with some great ways to verify that tenants will work for you and for your profit margins. He talks about what he provides, what he puts in his leases, how he decides on tenants, and more helpful tips for any aspiring house-hacker!In This Episode We Cover:How to get a property for house hacking when you don’t have a W2What you’ll need to get a new build under contractHow earnest money differs from a down paymentThe criteria you should have in place for househack tenantsHow to split utilities among tenants when house hackingHow to make equity profit from new buildsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets PodcastBiggerPockets Podcast 352: No Driver’s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 DoorsBiggerPockets Podcast 329: Financial Freedom Before 30 Through Just 10 Deals With Felipe MejiaDiego Corzo’s InstagramStessaAshley's InstagramTony's InstagramCheck the full show notes here: https://www.biggerpockets.com/rookie49
After Richard Kelly shadowed a veterinarian for the day, he realized that his passion wasn’t performing surgery on animals, it was actually money. This led him to become a banker and after he was given the book Rich Dad Poor Dad, his interest in real estate investing was sparked.After deciding he wanted to become a landlord, Richard found BiggerPockets and started listening to every episode of the podcast he could. After feeling confident enough in the real estate investing education space, he made his first jump into flipping, buying a short-sale home with some creative financing via hard money loans.After some very heavy hard money fees paired with long nights working to get his flip finished, he walked away with a solid profit, and knew that he wanted to park it in buy-and-hold investing. Currently, Richard has completed 2 flips and owns 2 rentals (a single family and a duplex), and knows exactly what (and what not) to look for when using hard money and creative financing. Now, he’s here to share the knowledge with all of us.Richard has done 4 deals, with 4 completely different ways of financing. From private money, to 401(k) loans, and using a fan favorite, the 203(k) construction loan. He also talks through how to find deals, who to partner up with, and why you need a great real estate agent especially when you’re just starting out.In This Episode We Cover:Why short sale properties may be a great buy for new investors The importance of having reserves when going through hard money lendingHow to get comfortable with making offers (before you see the place)Financing through hard money, 401(k) loans, and 203(k) loans Finding quality partners that make deals easierHow to find off-market deals, wherever you areRichard’s favorite tools for finding and managing propertiesAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupYes ManTruliaZillowRedfinRealtorBiggerPockets Hard Money LendersPropstreamBiggerPockets ForumsBiggerPockets Real Estate ShowBiggerPockets Money PodcastGenius ScanStessaAshley's InstagramTony's InstagramCheck the full show notes here: https://www.biggerpockets.com/rookie48
Andres Bernal came to America to play tennis with only $500 in his pocket. He thought that professional tennis is what his life would end up revolving around. After playing for 2 years and being burnt out from work, Andres decided to take some advice from his family members: start buying real estate.After buying his primary residence, he started looking into multi-family homes that could make him some cash flow each month. He later put down 3.5% with an FHA loan to purchase a triplex, and rented out the bottom 2 units while he lived in the upper 3rd unit. He sold his condo, had some cash, and was ready to start investing more.Andres had some pretty creative ways of getting funding for his real estate deals. He started calling every contact in his phone, asking if they were interested in real estate, and if they were, he packaged up a deal for them. The trade? He does the work and the analysis, they do the financing.These types of partnerships have worked well for Andres and they can work for other rookies as well. His advice is to test the partnership, build the trust, and use the BiggerPockets Rental Property Calculator! The rest will fall into place.In This Episode We Cover:Why FHA loans are a great first financing tool for rookie investorsCalculating out your “worst case scenarios” on housesHow to treat tenants so they want to stay (and will respect your home)Why investors need to solve a problem for tenants (especially those that cause you the most trouble)Finding local investors and investors within your existing circlesThe profitability of student housing as an investmentUsing social media to grow your existing networkHow to set expectations for contractorsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets BookstoreBiggerPockets ForumsBiggerPockets PodcastBiggerPockets MeetupsFind a Real Estate AgentBrandon TurnerCheck the full show notes here: http://biggerpockets.com/rookie47
Most rookie real estate investors want to hit a home run on their first deal, Annie and Trey Johnson did it completely on accident. Neither of them were interested in being landlords or real estate investors, but after they made six figures profits on their first home, they realized there was real money in the real estate game.Annie and Trey were looking for a home to raise their family in. They found the perfect plot of land which had a new manufactured home and a scenic view. After living in the home for a few years they decided to move elsewhere to be closer to family, and instead of selling it, they decided to rent it out for a year.Now they were landlords by accident, and as the money started to flow in every month they questioned “is this something people are normally doing to make money?”. Fast forward a year, they subdivided the land, sold the home, and walked away with profits exceeding $200,000. Not bad for a couple of rookies!Annie and Trey now invest out of state, building up their real estate portfolio by rehabbing inexpensive homes. They’re so into real estate, that Annie even hosted her own socially-distant meetup during 2020!This investor couple walks through their keys to success, the players on their team that make the biggest difference, and how they went from just homeowners to real estate investors!In This Episode We Cover:How to use your primary home to make more moneyThe ability to cash flow using ADUs and mother-in-law suitesHow to parcel out lots of land to sell them separately (and make more money!)Why writing a “love letter” may be a good move when submitting home offersHow a good or bad property manager can make or break your long-distance investingWhat to do when there are no meetups in your area (or COVID has limited them)The best advice for new rookies who are looking to find their first dealHow to find funding for your BRRRRAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets BookstoreBiggerPockets ForumsBiggerPockets PodcastBiggerPockets MeetupsRookie Podcast 43: Defeating 5 Years of Analysis Paralysis to Do 4 Deals in 2020 with Jacqueline SmithCheck the full show notes here: https://www.biggerpockets.com/rookie46
Not one, not two, but three real estate rookies join us on the first Real Estate Rookie episode of 2021! Beth Henson, Jackson Seedott, Jordan Crockett all started their real estate investing careers in 2020, but are in different stages of the game. They each have contrasting strategies, goals, and visions for 2021, making this interview even more interesting!Beth acquired 6 units in 2020! She’s also got 3 more units under contract and is ready to close in early 2021. Beth is also flipping houses as well and has a BIG revenue goal to hit in 2021 for her flipping business.Jackson is still looking to get his first deal under contract but made a very impressive personal finance transition in the 2020. He doubled down on his side business during COVID-19 and has seen revenue triple, which is going directly into his investing fund. He’s analyzing deals, calling agents, and ready to get his first deal in Q1 of 2021!After joining the “How to Get Your First Rental in 90 Days” webinar, Jordan made it his mission to get his first rental property under contract. Jordan bought a duplex within that 90 day timespan and house hacks one side of it. He’s looking to add more rentals and start wholesaling in 2021. These 3 investors talk about their visions for 2021, how they accomplished success in 2020, and what new investors can do to maximize their efforts for the coming year.In This Episode We Cover:The importance of having a profitable side businessWhy daily consistent action is the driving force behind goal accomplishmentThe reason real estate investors vet contractors, agents, and partners so thoroughlyWhy it’s okay to not know everything, especially if you’re just getting startedDefining your “worst case scenario” and making a plan to tackle itHow to follow up on your action items for your 2021 goalsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupDave RamseyBiggerPockets BookstoreZillowCraigslistBiggerPockets Money Podcast 151: From Single Dad w/ $61K in Student Loans to Financially Savvy Real Estate Investor with Tony J RobinsonBiggerPockets WebinarsRookie Podcast 24: 13 Units Despite Being Stationed 5,000 Miles Away with Naaman TaylorBiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl YarberBiggerPockets ForumsCozyQuickBooksStessaAppfolioCheck the full show notes here: http://biggerpockets.com/rookie45
You asked, we answered! This week we’re tackling the most common and most interesting questions asked on the rookie request line! If you’ve sent in a voicemail, you may be featured on this week’s episode!Questions such as:What is better, LLCs vs. Sole Proprietorships for buying properties?How to find a great real estate agentWhat do you do after you’ve bought your first rental?The best investment types that AREN’T real estateHow to start buying rentals after bankruptcyAnd many more great questions!These will all be answered by our two experienced co-hosts, plus a special cameo from our senior producer, Kevin!If you’ve been wondering about a certain aspect of real estate or just want to know what you can do to get started, this is the episode for you!In This Episode We Cover:How LLCs can limit or expand your financing for rental properties What factors make a great agent (and which one’s definitely don’t)The importance of shopping around for many different financing optionsWhat other asset classes real estate professionals invest inSubletting and AirBnB arbitragingHow lenders look at income when two different partners are in on a dealWhether you should pay off debt or add more investmentsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupBiggerPockets Find an AgentRookie Podcast 43: Defeating 5 Years of Analysis Paralysis to Do 4 Deals in 2020 with Jacqueline SmithDave RamseyDebt Free Community on InstagramBiggerPockets MoneyRookie Podcast 23: From Dave Ramsey Disciple to No-Money-Down Real Estate Investor with Sarah BrandenbergerBiggerPockets Keyword AlertsHow I Used Real Estate to Pay for My Newborn Daughter’s College Education (Brandon Turner's Blog Post)Cashflow Board GameBe a Guest on the Podcast!Check the full show notes here: http://biggerpockets.com/rookie44
Jacqueline Smith knew that she didn’t want to have a big loan on her first house. The way she solved the problem: buy a foreclosed home and do a live in flip! It worked out so well, that she later decided to do it again, on her second home. Her and her husband then had the idea to go at it full time.Even during COVID-19, Jacqueline and her husband have 4 flips in the making, and are looking to add more when deals pop up. She’s been through a lot in her short flipping career, from a tornado coming through a house she was working on, to builder tools being stolen while they were housed on site. This only made Jacqueline find better and more efficient ways to do her flipping.Many of the deals Jacqueline has worked on have come from realtors and investors she’s met through organizations like BiggerPockets and her local REIA. She strongly urges any new investor to join their local real estate groups, talk to investors, and present deals to other experienced professionals when they have the ability to.Jacqueline’s husband now is able to work on their flips as his primary business, plus get paid for the labor! Even in a crazy year like 2020, Jacqueline and her team have decided to go bigger, when many other investors were holding back.In This Episode We Cover:How to find foreclosed homes that are perfect for flipsThe importance of building equity in order to fund your future dealsHow to stop “analysis paralysis” from creeping inWhy you should attend meetups and networking eventsHow to introduce yourself to other real estate professionals, whether you’re at a meetup or just getting coffeeWhat to look for in a partner, especially if you’re new to flippingWhether or not to put in an “escalation clause” when submitting an offerWhy you should always have security cameras on siteAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupAshley's InstagramTony's InstagramHubzuMike Butler's WebsiteBiggerPockets ForumsBiggerPockets MeetupsDave RamseyDISC ProfileQuickbooksSecurity National Mortgage CompanyRookie Podcast 27: 5 Doors by Using Seller Financing for the First Time with Aaron ChapmanDelayed financing highlights from Jacqueline's Friend at SNBJacqueline's Excel SpreadsheetCheck the full show notes here: https://www.biggerpockets.com/rookie43
Lauren Keen Aumond was only 22 years old when she got her primary residence under contract, and 23 when she purchased it. She realized that the rents in her area were higher than the mortgage payment of buying a house, so she bought a home, leased out a room, and incidentally discovered house hacking. At 23 she was only paying $200 a month to own a home that would appreciate for many years to come.This is when Lauren decided that real estate would become a bigger part in her life than she had planned. She then spent the next decade buying a second home, selling it, and cashing it in for a duplex. Now she owns a cash-flowing duplex plus her latest purchase, a house hacking bed and breakfast!This home was situated on a decent sized lot, with a primary home, 2 cottages, and a mobile home! As a resourceful investor, Lauren decided the best way to make this a cash flowing property was to turn the two cottages into short-term rentals and buy a camper as a 4th unit on the property.Lauren now juggles school, a full time job, small businesses, and her rental portfolio all at once. She goes into some seriously messy situations she’s been in with tenants, from evictions, to break-ins, and even utility siphoning. With all that being said, she still feels confident as ever to be a landlord, and isn’t looking back!In This Episode We Cover:Why house hacking is great for young real estate investorsWhy you need to focus on the numbers, not emotions in a dealDifferent financing options for multi-family propertiesCreative ways to house hack a property with different units on one lotHow to get multiple appraisals (if the first doesn't cut it)Dealing with very troublesome tenants (especially during COVID)Why you shouldn’t give up even if a property’s numbers fall shortAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupAshley's InstagramTony's InstagramBiggerPockets Bookstore7 Metros With the Biggest Rent Growth Over the Last 5 YearsVrboAirbnbAirDNASmartbnbFelipe Mejia's InstagramCheck full show notes here: http://biggerpockets.com/rookie42
Kyle Mack was only a senior in college when he bought his first duplex, house hacked it, and caught the real estate bug. Since graduating he’s held a handful of jobs, from retail, to becoming a leasing agent, and even a commercial real estate broker. But that wasn’t what Kyle’s degree was in, he was actually planning on becoming a doctor.Kyle talks through how he gained the confidence to take on an 18 unit apartment building, not too long after closing on his first property. He also talks about the importance of financing, and how it can help you scale.Using financing like hard money, credit cards, and cash to close on properties, Kyle has had to think on his feet to get deals done. He walks us through the best way to approach hard money loans, how to have lenders lined up for deals, and what to do when you can’t refinance at the end of a BRRRR deal.Kyle brings up “imposter syndrome" and how it’s easy to psych yourself out of deals that you can handle. This is a great episode for any new investor who has never used hard money, creative financing, or wants to go from 1 unit, to many.In This Episode We Cover:How Kyle bought his first duplex before graduating collegeHow to pivot career paths, even if you’re just starting outWhy it’s important to do the “hard” parts of real estate, not just busy workWhat a land contract is, and how it differs from seller financingUsing 0% credit cards to finance materials for dealsHow to prepare your deals for hard money lendersHow to find great electricians, general contractors, and other professionalsWhy you need to ignore the “imposter syndrome” that can creep up during dealsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupAshley's InstagramTony's InstagramBuildiumBiggerPockets ForumsBiggerPocketsZillowMooBiggerPockets PodcastCheck the full show notes here: http://biggerpockets.com/rookie41
Investor couple Anam and Aamir have been hard at work during COVID, locking down deals and BRRRR-ing more and more houses. Through years of system-building and deal mistakes/lessons, they were able to create a system that allows them to save time searching for deals and know immediately whether a property is worth the investment or not.After pinpointing exactly what they wanted in a deal, Anam and Aamir took the time to develop systems and processes that would help them get properties rehabbed and rented faster.So how did they finance these deals? HELOCs, credit cards, cash, hard money, and other creative financing. This is what allowed them to build a portfolio of 21 units within a few years, all while working full time jobs that take up much of their waking hours.With their deal criteria system (A.R.E.A), they’ve been able to turn their dreams into reality. Now at only 28 and 30, Anam and Aamir are on track to close more and more deals, securing their financial independence all while building appreciating wealth.In This Episode We Cover:How you can grow your rental portfolio, even during a pandemicHow to get your processes and systems down so they work for you Using your partner’s strengths/weaknesses to inspire growth How to use different creative financing strategies to get deals fasterHow to find a hard money lender that works with your time-frame and ARVWhat the A.R.E.A system is, and how it can help you find high-quality dealsThe importance of running accurate comps in a desired areaUsing your mistakes to make yourself into an educated investorAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupAshley's InstagramTony's InstagramBuildiumBiggerPockets ForumsBiggerPocketsCheck the full show notes here: http://biggerpockets.com/rookie40
Thomas Tsitouridis is truly a jack of all trades. As a kid, he was used to helping on the project-management side of his parent’s 64-unit apartment building (taking out the trash, helping with tenants, and so on). He later realized that real estate investing would hold a special place in his future.Thomas later worked for a construction manager, then chose to start his own construction business, property management business, and long term buy-and-hold business. Using the experience and cash flow from his construction business, Thomas found that he could amplify his money by buying deals and using his own team to do the construction and rehab.Now Thomas (and his partner) are buying multifamily deals, fixing them up, and getting sustainable cash flow, so they can retire early. Within his first year as a real estate investor, he has already learnt a lot. Thomas shares some great tips on tenant management, system automations, construction, and even financing so you can get better ROI earlier on! In This Episode We Cover:What to look for when partnering up with other investorsThe importance of having a great broker on your teamWhy you need to take action and lock down your first deal How to facilitate a rent increase while having empathy for tenantsHow to split responsibility between you and your partnerWhy ARM loans are a great choice for the BRRRR strategyManaging tenants while controlling your own emotionsWhy you need to ask the stupid questions to be smarter later onHow to start automating everything in your real estate businessAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupAshley's InstagramTony's InstagramRealtor.comBiggerPockets CalculatorsBiggerPockets InsightsChaseBuildiumTidying Up with Marie KondoCheck the full show notes here: https://www.biggerpockets.com/rookie39
Feeling stretched for time in your investing career? Today we talk with Adam Whitney, an active duty military member, working full-time, with children, a wife, and an active investment portfolio!With so much going on at once, Adam makes it look easy, juggling his hectic military life while accomplishing his long term goals.Adam started learning about real estate over a decade ago, but didn’t dive in until 2017. Thanks to his “ruthless work ethic”, he’s been able to stack up his rental portfolio, make meaningful mentor connections, and join masterminds in only a few years!Adam talks about getting 0% down loans, locking down long-distance real estate deals, doing thorough inspections when buying sight-unseen, and how to start relationships with mentors and real estate professionals you look up to.With a healthy portfolio of rental properties spanning across the country, Adam is the perfect example of someone who found the time to accomplish his (and his family’s) dreams of financial independence!In This Episode We Cover:How to make time for investing with a career, family, and hectic scheduleThe importance of goal-setting for you (and your partner)Setting specific goals to silo your vision for a brighter futureGaining the experience to get your 2nd, 3rd, or 4th deal (and beyond!)Why you should start “aggressively networking” How to reach out to your real estate heroes (and get responses)Reading and making sense of a pro forma analysis Optimizing your home inspection process (for less!)How to tackle a joint venture (even if it’s your first)How your “why” drives your deals forwardAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupAshley's InstagramTony's InstagramBrandon Turner's BiggerPockets ProfileBiggerPockets PodcastBiggerpockets CalculatorsRookie Podcast 29: Growing Your Portfolio with Turnkey Investing with Whitney Hutten and Lance RobinsonCheck the full show notes here: http://biggerpockets.com/rookie38
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Comments (15)

Jordyn Moreno

it's a buyer rep agreement

Feb 4th
Reply (1)

Ryan Copeland

Asana - I have to look up that project management tool

Dec 17th
Reply

Joseph O'kray

This dude just admitted to fraud

Nov 4th
Reply

Krystyan

Great Podcast

Oct 25th
Reply

Braan Anderson

can you explain what counting meters does?

Oct 5th
Reply (1)

HotdogSmoothie

recession proof real estate investing

Aug 27th
Reply

HotdogSmoothie

nvm he has a book lmao

Aug 27th
Reply

HotdogSmoothie

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
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