Real Estate Rookie

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(00:00) Intro

(00:37) Building Credit 101

(08:42) Real Estate vs. Stocks

(23:16) Changing Your Strategy

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The “Secret Sauce” for Buying Rental Properties BELOW Market Value Feb 19, 2025

Show notes

Want to learn the secret to snagging rentals below market value? Every successful investor has this one crucial skill, and it’s often the difference between getting the door shut in your face and coming away with a discounted property. Even rookies can learn this skill, and today, we’re bringing on a pro to show you how!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by J Scott, who delivers a masterclass on real estate negotiations with sellers, agents, contractors, vendors, and anyone else you encounter in your real estate investing journey. In this episode, J will show you the best way to sharpen your negotiation skills, the questions that will help you determine a seller’s motivation, and how to stand out to sellers in a competitive housing market.

But that’s not all. If you’ve ever wondered where you should set your starting offer and how to get over your fear of insulting the seller with a “lowball” bid, J’s got the answers. Better yet, he’ll show you how to do this without creating any kind of animosity between you and the seller. In fact, he’ll share how you can do the exact opposite by building rapport and creating a win-win for both sides!

In This Episode We Cover:

Using the power of negotiation to buy rentals below market value

The number one way to sharpen your real estate negotiation skills

Crucial questions that will help you determine a seller’s motivation

How to make your offer stand out (even in a competitive market)

The two tactics you must master to become a successful negotiator

How to avoid an adversarial relationship when entering negotiations

Two telltale signs that it’s time to end negotiations with a seller

And So Much More!

Links from the Show

Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada

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Building Rapport and Negotiating with Sellers for a Great Deal

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(00:00) Intro

(00:37) Negotiations 101

(04:24) Why Negotiation Matters

(08:00) BEST Negotiating Tactics

(15:45) How to Sharpen Your Skills

(21:34) Making “Lowball” Offers

(28:00) Questions to Ask Sellers

(35:36) How to Stand Out in 2025

(38:24) When to End Negotiations

(40:44) Connect with J!

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BRRRR-ing to 16 Rental Units (WITHOUT a Ton of Money) Feb 17, 2025

Show notes

Buying sixteen rental units in one market?! Today’s guest has discovered the perfect investing strategy for newbies. You don’t need a ton of money or resources, and you can use it over and over to buy your first, second, third, or twentieth rental property. Tune in to find out what this secret strategy is and how to use it!

Welcome back to the Real Estate Rookie podcast! After Seamus Nally’s brother showed him the off-campus housing model, they formed a four-way real estate investing partnership with other family members. Pooling their money helped them fast-track their first deal—a duplex they renovated and rented by the room. Before long, they had BRRRR’d (buy, rehab, rent, refinance, repeat) their way to sixteen units within the same neighborhood, which revitalized the entire community and forced HUGE appreciation across their real estate portfolio!

In this episode, Seamus will show you how to combine the BRRRR strategy and partnerships to not only kickstart your investing journey but also scale your portfolio faster than you ever thought possible. Along the way, you’ll learn how to use home equity to fund more deals, find the best subcontractors for your home renovations, and more!

In This Episode We Cover:

The strategy Seamus used to scale to sixteen rental units in one market

How to use the BRRRR method (buy, rehab, rent, refinance, repeat)

Growing your real estate portfolio through the power of investing partnerships

Crucial dos and don’ts when real estate investing with family members

Buying rental properties faster by tapping into your home equity

The value of building relationships with small banks and local credit unions

Keeping high-quality tenants happy by focusing on customer service

How to find (and keep!) the best subcontractors in any market

And So Much More!

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TurboTenant

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Real Estate Rookie 486 - Quitting His Job with Real Estate After Cracking the Cash Flow Code

Connect with Seamus

(00:00) Intro

(00:34) Seamus’ First Deal

(06:34) The Power of Partnerships

(10:20) Revitalizing a Neighborhood

(18:03) How to Fund Multiple Deals

(23:50) Scaling with the BRRRR Method

(29:01) Sweat Equity & Finding Contractors

(34:41) Self-Management Tips

(36:52) Connect with Seamus!

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Is Cash Flow STILL King? How to Get More of It in This Market (Rookie Reply) Feb 14, 2025

Show notes

Cash flow is hard to come by in this market. Just a few years ago, it was easy to find rental properties that met the one-percent rule, but today, you need to get creative if cash flow is your main goal. Is buying more rentals the most obvious fix, or is there another strategy that people aren’t talking about? Stay tuned to find out!

Welcome back to another Rookie Reply! Today, we’re returning to the BiggerPockets Forums to answer more of your recent questions, and first up, an investor needs some help managing their rental property from afar. Who handles showings? Move-out inspections? We’ll show them how to turn their out-of-state investing operation into a well-oiled machine.

Next, we’ll hear from an investor who wants more cash flow. They already have one rental property, so should they pay it off or start looking for their next rental? We’ve got several strategies that they (and YOU) can use!

Finally, what happens when a property you’re looking to buy needs repairs? We’ll share some crucial dos and don’ts when negotiating with sellers!

Looking to invest? Need answers? Ask your question here!

In This Episode We Cover:

The BEST strategies to increase your portfolio’s total cash flow

Tips and tricks for self-managing your rental property (out-of-state!)

Must-have property management and maintenance software for your portfolio

Four ways to tap into your rental property’s equity and redeploy it

What to do (and what NOT to do) when negotiating repairs with sellers

And So Much More!

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Get RentRedi for FREE with BiggerPockets Pro Membership

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Grab “The Book on Rental Property Investing”

Maximizing Your Portfolio: How to Get the Most Out of Your Real Estate Investments

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Why We Regret Buying (So Many) Rental Properties Feb 12, 2025

Show notes

It’s true—we regret scaling our real estate portfolios. We’ve learned (the hard way) that less is often more, especially in today’s market, where great deals aren’t as easy to find. Want to make sure your quest for more rentals doesn’t derail your investing journey? We’ll share where we went wrong so that YOU don’t make the same costly mistakes!

Welcome back to the Real Estate Rookie podcast! Social media would have you believe that a large portfolio is the key to reaching financial freedom, replacing your W2 salary, and retiring early. And while you may need more than one or two rental properties to achieve your biggest investing goals, scaling too quickly can have the opposite effect—killing your cash flow and leaving you with more headaches than you bargained for!

In this episode, you’ll hear how putting all his eggs in one basket caused Tony to lose over $200,000 on ONE deal and how growing too fast caused Ashley to miss out on one of the BEST years to invest in real estate. Stay tuned to learn what we would have done differently if we could wind back the clock!

In This Episode We Cover

Why Ashley and Tony regret buying so many rental properties so quickly

The pitfalls of scaling your real estate portfolio (and how to avoid them!)

Why “less is more” when it comes to building a rental portfolio

What WE would do differently if we started investing today

Why stabilizing your properties is more important than acquiring more

Creating necessary procedures, processes, and systems in your real estate business

And So Much More!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-522

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Avoid Paying Taxes (Legally) with THIS Rental Tax Loophole Feb 10, 2025

Show notes

Most people invest in real estate for cash flow or appreciation, but there are enormous tax benefits as well. In this episode, we’re going to share the number one tax strategy you need to know about—the short-term rental tax loophole—which could save you thousands!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Sean Graham, who is not only a certified public accountant (CPA) but also a fellow real estate investor. He’s going to show YOU how to avoid paying Uncle Sam (legally) with just a few savvy tax strategies. The best part? You don’t need to be a big-time investor with a large real estate portfolio to take advantage of these benefits. Even if you have just ONE rental, these strategies are for you!

First, Sean will share the ins and outs of the cost segregation study, which allows you to frontload depreciation rather than spreading it out over the next few decades. He’ll also get into bonus depreciation and the different line items that qualify, as well as the tax “loophole” that allows you to use tax deductions to offset active income—yes, including your W2 wages!

In This Episode We Cover:

Offsetting active income (and saving thousands) with the short-term rental loophole

How to avoid paying taxes (legally!) on your rental property

Cost segregation studies explained (and when you should get one)

How to retroactively claim depreciation through a “look-back” study

Why you can have as little as ZERO taxable income and still be lendable

And So Much More!

Links from the Show

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Cost Segregation 101

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Find Investor-Friendly Lenders

Connect with Sean

(00:00) Intro

(00:36) What Is Cost Segregation?

(06:33) Short-Term Rental Loophole

(13:10) Other Strategies & Pitfalls

(20:21) Bonus Depreciation 101

(25:24) How to Do a Cost Seg Study

(28:05) Cost Segregation Study

(33:28) Connect with Sean!

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4+ Ways to Fix Negative Cash Flow (and When to Sell Instead) (Rookie Reply) Feb 07, 2025

Show notes

Does your rental property have negative cash flow? This doesn’t necessarily mean you bought a bad deal, though losing money probably isn’t what you signed up for. But not to worry—in today’s episode, we’ll share a few changes that could get you back in positive territory in no time!

Welcome back to another Rookie Reply! Today, we’re answering more questions from the BiggerPockets Forums. First up, we’ll get into house hacking—the easiest way for a new investor to build a real estate portfolio—and show you how to use this strategy to keep buying properties with low money down. Next, should you invest in Columbus, Ohio in 2025? This investing hotspot is drawing plenty of attention, but we’ll show you how to find other markets just like it! Finally, is your Airbnb giving you little or no cash flow? Tune in to learn how to plug the holes in your business, when to hold for appreciation, and when it might be wise to sell!

Looking to invest? Need answers? Ask your question here!

In This Episode We Cover:

The number one thing you must do before looking at Airbnb markets

The most crucial data for Airbnb market analysis (and where to find it!)

The BEST short-term rental markets to invest in this year

Must-have Airbnb amenities to add to your rental property

Why we’re choosing secondary markets over primary markets in 2025

And So Much More!

Links from the Show

Top Investment Housing Markets for 2025

Market Analysis Spreadsheet

BrightInvestor

NeighborhoodScout

Breezeway

Get Early Access to BPCON2025 and Learn Real Estate from Industry Experts

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Grab the Book “Smarter Short-Term Rentals”

Improve Your Real Estate Returns by Optimizing Your Existing Properties When Deals Are Hard to Find

(00:00) Intro

(00:40) House Hacking 101

(10:58) How to Pick a Market

(21:14) Airbnb Listings & Cleaning Fees

(31:36) “Fixing” Revenue & Exit Strategies

(39:49) Ask Your Question!

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The BEST Airbnb Markets in 2025 and How to Do Your Own Market Research Feb 05, 2025

Show notes

Want to get into short-term rentals in 2025? Your first step is to find the right Airbnb market for you. But we know that wading through 20,000 US towns and cities can be overwhelming, which is why we’re turning to our resident short-term rental expert for everything you might need to know!

Welcome back to the Real Estate Rookie podcast! Vacation rentals are Tony’s specialty, and in this episode, he’s going to share his best tips and tricks for choosing a market in 2025. First, he’ll help you pin down your investing goals before covering some of the most crucial factors to consider when analyzing a short-term rental market—including home price, supply and demand, competition, and others. You’ll also learn how to perform your own market research from scratch so that you’re armed with the most accurate data when making your decision!

But that’s not all. Once you’ve chosen your market, you’ll need to determine which types of amenities to include. We’ll show you what’s needed, what’s not needed, and which additions could give you a competitive edge in your market. Finally, we’ll share a list of the best places to invest in 2025, which may even feature a certain Louisiana market Tony notoriously invested in years ago!

In This Episode We Cover:

The number one thing you must do before looking at Airbnb markets

The most crucial data for Airbnb market analysis (and where to find it!)

The BEST short-term rental markets to invest in this year

Must-have Airbnb amenities to add to your rental property

Why we’re choosing secondary markets over primary markets in 2025

And So Much More!

Links from the Show

Tony's BiggerPokckets Profile

“Best Places to Invest in Short-Term Rentals in 2025”

AirDNA

Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations

Buy the Book “Smarter Short-Term Rentals”

The 5 Best Housing Markets for Short-Term Rentals in 2025

(00:00) Intro

(00:43) What’s Your Motivation?

(02:12) Crucial Data Points

(10:22) Choosing Your Market

(18:46) Must-Have Amenities

(21:40) Supply, Demand, & Competition

(27:03) Ongoing Market Research

(28:59) BEST Markets in 2025

(34:46) Do Your Own Research!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-519

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Tiny Investments, Killer Cash Flow, and Starting with Just $12K Feb 03, 2025

Show notes

“Tiny” investments with BIG upsides? Today’s guest turned a $12,000 down payment (all the money he had) into four rental properties and a unique real estate investing business. After an injury from his time in the Army left Manny Reyna with altered life plans, he had to decide what to do next. He didn’t have much money but wanted to provide for his wife and young son. The best option: use his VA loan to buy a house.

With every dollar he had, he bought a home, knowing it could one day be a rental, but little did he know that it would kickstart a very different real estate investing journey. Fast forward a few years later, and Manny has a glamping/tiny house business that he started with just $20,000. This tiny home brings in some respectable cash flow but wasn’t without its struggles.

In this episode, we’re going through the big ups (and big downs) of Manny’s journey, from having to literally move a house to bad guests ruining his first short-term rental, installing utilities on completely raw land, and managing his properties from very far away (he’s in Japan right now!).

In This Episode We Cover:

Why every veteran or active duty military member should use THIS loan to buy a house

How to start investing without much money by buying “tiny” investment properties

Whether you should hire property management or self-manage your first property

Why lowering your rent price is worth it to avoid prolonged vacancies (don’t make Manny’s mistake!)

How much it cost Manny to install utilities (electrical, septic, etc.) on a raw land for his glamping properties

And So Much More!

Links from the Show

Tony's BiggerPokckets Profile

Grab the Book, “Short-Term Rental, Long-Term Wealth”

Get Casita on Instagram

Property Manager Finder

$11,000/Month with One VERY Unique Rental Property w/Garrett Brown

Connect with Manny

(00:00) Intro

(02:10) First House for $12K Down!

(06:00) Hiring Property Management

(09:34) I Can't Get Tenants!

(10:37) $50K Tiny Homes and Land Investing

(16:15) Setting Up Utilities on New Land

(21:21) Tiny House Amenities

(24:11) Cash Flow and Current Rent

(26:37) Tenants Trashed My Property!

(29:58) Buying MORE Tiny Homes

(33:44) Managing Properties from Abroad

(35:09) Connect with Manny!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-518

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Fund Your FIRST Rental Property with These Side Hustle Ideas (Rookie Reply) Jan 31, 2025

Show notes

Do you need more money to buy your first rental property? Fortunately, there are all kinds of real estate side hustles you can use to supercharge your savings, all while learning the ropes of real estate investing. And in this episode, we’re going to share some of our favorites that YOU can start today!

Welcome back to another Rookie Reply! Today, we’re tackling more of your recent questions from the BiggerPockets Forums and BiggerPockets Facebook groups. First, a new investor has a lofty investing goal they want to achieve in just five years, and we’ll share our best advice and side hustle ideas to help them reach it. Next, we’ll hear from an investor who wants to buy their dream home. Can they leverage their current real estate portfolio to help fund it? Should they sell their rentals? Stay tuned to find out! Finally, what’s the best way to structure a real estate investing partnership? Should you go into business with a family member? We’ll share some crucial dos and don’ts!

Looking to invest? Need answers? Ask your question here!

In This Episode We Cover:

The BEST side hustles for making extra money and learning real estate

Whether it’s ever too late to start your investing journey

How many rental properties you need to achieve your cash flow goals

Our biggest fears, headaches, and lessons learned when WE started investing

How to leverage your current real estate portfolio to buy your next property

What you must know before forming partnerships (and how to structure one!)

And So Much More!

Links from the Show