Real Estate Rookie

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BiggerPockets Real Estate - Episode 650: Glamping, Campsites, and the Insane RV Park Revenue No One Is Talking About

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(00:00) Intro

(00:47) RV Investing 101

(07:40) Maintaining an RV

(10:06) Buying the Historic Home

(14:51) Current Portfolio & Buy Box

(22:48) Boosting His Cash Flow

(26:07) Advice for New Investors

(28:10) Connect with JJ!

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Reaching Financial Independence with 5 Properties & Multiple Income Streams w/Kadeem Leslie Sep 09, 2024

Show notes

Can real estate investing still propel you to financial independence in 2024? Despite starting with very little money or know-how, this investor found creative ways to build a real estate portfolio of five rental properties and reach his financial goals!

Kadeem Leslie was just fifteen years old when he learned about FIRE (financial independence retire early) and set a lofty goal of retiring by thirty. He knew that real estate would need to be part of his journey, but like many new investors, he had very little money to start. So, he used the Airbnb arbitrage strategy, sleeping on his couch while guests rented his bedroom. In the first month, he covered his rent, and by the third month, he had already doubled his rental income. With proof of concept, Kadeem started renting out virtually any space he could find—from podcast studios to parking spaces—giving him money to buy his own rentals!

Today, Kadeem is financially free, but he has used several strategies and side hustles to get there. In this episode, you’ll learn how to combine real estate investing and other revenue streams to fast-track your portfolio. You’ll also learn why the one-percent rule is still possible in today’s housing market and why finding a top real estate agent is the key to uncovering a great deal!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover:

How Kadeem was able to achieve financial freedom with real estate investing

FIRE (financial independence retire early) explained and how to achieve it

How to use rental arbitrage as a stepping stone toward property ownership

Creating additional revenue streams to help build your real estate portfolio

Why working with a top real estate agent is crucial for finding deals in today’s market

How to achieve the one-percent rule with the house hacking strategy

And So Much More!

Links from the Show

Get 10% Off Any BiggerPockets Book with Code “Ashley” or “Tony”

Buy “The Book on Rental Property Investing”

Airbnb Arbitrage: How to Make Money Without Owning Property

(00:00) intro

(00:57) The Journey to FIRE

(03:53) Rental Arbitrage 101

(12:41) Building Income Streams

(20:47) Current Portfolio & Partnerships

(24:54) Kadeem’s Most Recent Deal

(30:34) Advice for New Investors

(34:46) Connect with Kadeem!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-455

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Rookie Reply: Buying Your First Rental & the BEST Properties for Appreciation Sep 06, 2024

Show notes

You’re trying to buy your first rental property, but you keep losing out to buyers making cash offers and waiving inspections. Are you doing something wrong? In this episode, we’ll show you how to find more deals, improve your offers, and even be the first one to the party!

Welcome back to another Rookie Reply! One of the biggest perks of real estate investing is the home equity you build through loan paydown—money you can use to grow your real estate portfolio. But between cash-out refinancing, a home equity line of credit (HELOC), and selling your property, what’s the best way to pull your money out? Ashley and Tony are here to break down your options. Next, we’ll discuss the best properties to buy with appreciation as your main goal. Should you buy the cheaper home that needs renovations or the move-in-ready rental? Stick around as we compare these properties head-to-head!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover:

How to calculate your purchasing power and build your buy box

How to find deals on the MLS (multiple listings service) that match your criteria

Creative strategies to help you source more off-market properties

Software, tools, and tips to help you manage and follow up on leads

Using the skip tracing method to find off-market property owners

And So Much More!

Links from the Show

Buy the Book “Real Estate Rookie: 90 Days to Your First Investment”

Real Estate Rookie - Episode 447: Making $300K+ Profit Per Rental and Scaling FAST with “DADUs”

(00:00) Intro

(00:41) apping Into Home Equity

(08:33) Investing for Appreciation

(14:24) How to Land Your First Property

(22:20) Where to Find Deals

(27:32) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-454

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The Rental Property Toolkit: How to Build Your Buy Box and Source More Deals Sep 04, 2024

Show notes

Struggling to land your next rental property? Even in today’s housing market, there’s a great deal out there with your name on it—you just need to know where to look. In today’s episode, Ashley and Tony will share their favorite strategies, software, and tools for finding real estate deals so that you can start getting a little reward for your effort!

Welcome back to the Real Estate Rookie podcast! Sourcing deals is hard work, but maybe you’re making things harder for yourself. Today, we’re starting at square one by showing you how to determine your purchasing power and build your buy box. From there, we’ll introduce you to several strategies that will help you find on-market deals that fit your criteria and off-market deals that typically fly under the radar. How many of these deal-sourcing strategies should you use when starting out? Stay tuned to find out!

Along the way, we’ll show you different software and tools you can use to get organized, track your leads, and find off-market property owners. Regardless of your investing strategy—house hacking, BRRRR, or flipping houses—our approach will help you lock up your next deal in no time!

In This Episode We Cover:

How to calculate your purchasing power and build your buy box

How to find deals on the MLS (multiple listings service) that match your criteria

Creative strategies to help you source more off-market properties

Software, tools, and tips to help you manage and follow up on leads

Using the skip tracing method to find off-market property owners

And So Much More!

Links from the Show

BiggerPockets Deal Finder

BiggerPockets Calculators

Become a BiggerPockets Pro Member for Free Invelo Software

??Xome

U.S. Department of the Treasury

Buy the Book “Real Estate Deal Maker”

Real Estate Rookie - Episode 416: How to Find & Fund MORE Real Estate Deals in 2024 (Tips from a PRO!)

(00:00) Intro

(00:51) What's Your Purchasing Power?

(02:17) Building Your Buy Box

(07:55) How to Find On-Market Deals

(12:22) How to Find Off-Market Deals

(19:30) Tracking Your Leads

(24:10) Choose Your Strategy!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-453

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The Rookie’s Cheat Sheet for Market Research (Find Where to Invest in 2024) w/Dave Meyer Sep 02, 2024

Show notes

Choosing where to invest can be overwhelming. With thousands of real estate markets and endless data to wade through, it’s no wonder that so many rookies trip up on this step before they ever get started. Well, we’ve got a brand-new tool that’s about to make your job a whole lot easier!

Welcome back to the Real Estate Rookie podcast! Dave Meyer, Head of Real Estate Investing at BiggerPockets, has developed a market research tool to help more investors find their market. And today, we’re putting it to the test! Join Ashley, Tony, and Dave as they walk you through the process of choosing an investing strategy, building a buy box, and picking a market that aligns with your long-term investing goals. As they dive into the data, you’ll find out where each of them might invest if they were starting over today!

But that’s not all. In this episode, you’ll also learn how using ChatGPT can accelerate real estate market analysis and why it’s so important to niche down to zip codes. Finally, you’ll learn to avoid overanalyzing a market by sticking to a few data points that fit your investing needs!

In This Episode We Cover:

How to use data to find your real estate market (and which data points matter!)

Where Ashley, Tony, and Dave might invest if they were starting over today

The new (and free) BiggerPockets tool that offers a different look at the housing market

Why you should choose a market that supports your strategy (and not the opposite!)

How to use ChatGPT as your secret weapon for faster market research

Why you must niche down to neighborhood when deciding where to invest

And So Much More!

Links from the Show

Find Investor-Friendly Lenders

Download Our Free “Where to Start” Market Research Tool

BiggerPockets Market Finder

BiggerPockets Glossary

Niche Down to Neighborhoods with NeighborhoodScout

Analyze Your Market with BrightInvestor

Buy Dave’s Newest Book “Start with Strategy”

Real Estate Rookie - Episode 429: The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, and Deals

Connect with Dave

(00:00) Intro

(05:35) Why Is Market Research Important?

(08:36) Where Tony Would Invest

(13:38) Niching Down to Neighborhoods

(18:18) Where Ashley Would Invest

(24:39) Choosing Data Points

(26:57) Where Dave Would Invest

(30:21) Go Find Your Next Market!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-452

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How to Find Real Estate Deals (and Analyze Them) in 5 Easy Steps w/Dave Meyer Aug 31, 2024

Show notes

Find real estate deals faster with a BiggerPockets Pro Membership. Use code “PDEAL24” for 20% off plus thousands of dollars in bonuses and access to investment calculators, BiggerPockets deal finder, BiggerPockets market finder, and more!

Feel like you’re struggling to find real estate deals in 2024? Well, we’ve got just the thing for you. Today, BiggerPockets’ Head of Real Estate, Dave Meyer, is showing YOU how to find real estate deals and analyze them easily to get your next real estate investment faster. Whether you’re looking for long-term rentals, short-term rentals, fix and flips, or something else, Dave is about to showcase the deal-finding strategies only experts know about.

There are five simple steps to finding real estate deals, and if you can follow all of them (or even most of them), you’ll have your pick of the best investments on the market. We’ll show you how to find off-market real estate deals, build your “buy box” to know exactly which deals you want, and get other people to send the deals straight to you! Plus, we’ll show you how to analyze a rental property in just minutes using the BiggerPockets calculators!

Take your real estate investing to the next level with BiggerPockets Pro! Use code “PDEAL24” for a HUGE discount!

In This Episode We Cover:

How to find real estate deals in 2024 (even if you’re just starting!)

Building your “buy box” and how to know an investment property is right for you

Getting deals sent TO YOU by networking with investors, agents, and more

Using the BiggerPockets “Deal Finder” to find hidden gems in any market

Rental property analysis 101 and how to do it in minutes with the BiggerPockets investment calculators

And So Much More!

Links from the Show

Hear Dave on the BiggerPockets Real Estate Podcast

Hear Dave on the On the Market Podcast

Deal Finder

Market Finder

BiggerPockets Forums

Real Estate Investment Calculator

Rent Estimator

BiggerPockets Bootcamps

BiggerPockets Webinars

RentRedi Property Management

(00:00) Intro

(02:00) Why Invest in Real Estate?

(09:53) Your Investing Strategy

(13:35) 1. Build Your "Buy Box"

(16:21) 2. Find Off-Market Deals

(17:49) 3. Find Deals Through Networking

(19:08) 4. Use the "Deal Finder"

(24:34) 5. Analyze the Rental

(25:30) Would You Buy This?

(33:33) HUGE BiggerPockets Discount!

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

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Rookie Reply: Rental Arbitrage 101 and How to Invest Your Home Equity Aug 30, 2024

Show notes

You know real estate investing is a great way to build wealth, but maybe you fear you don’t have the resources to start. Well, there’s a way to create cash flow without money OR rentals—rental arbitrage! This low-risk, rookie-friendly strategy could be your gateway into the world of real estate. In today’s episode, we’ll cover the pros and cons of this strategy and whether it still works in 2024!

Welcome back to another Rookie Reply! If you’re a homeowner looking to buy your first rental property, tapping into your home equity gives you an enormous advantage. We’ll show you how to quickly build and scale a real estate portfolio through the BRRRR method (buy, rehab, rent, refinance, repeat), and you’ll also learn when to use a cash-out refinance or get a home equity line of credit (HELOC) instead. Finally, inheriting tenants puts you in a difficult spot. How should you introduce yourself to tenants? What’s the best way to raise rents on long-term tenants? Stick around to find out!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover:

How to cash flow WITHOUT money or rentals (and whether this strategy works in 2024)

The pros and cons of Airbnb arbitrage (and costly mistakes to avoid!)

The BEST ways to leverage your home equity as a new investor

Using the BRRRR method (buy, rehab, rent, refinance, repeat) to build your portfolio

When to use a cash-out refinance versus a home equity line of credit (HELOC)

Crucial steps to take when inheriting tenants with your rental property

How to get tenants to agree to rent increases using the “binder method”

And So Much More!

Links from the Show

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

Find Investor-Friendly Lenders

BiggerPockets Real Estate - Episode 520: $47K/Month in Rent, 0 Doors Owned | Rookie Takeover w/ Rafael Loza

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Find Landlord-Tenant Laws in Your State

(00:00) Intro

(00:57) What Is Rental Arbitrage?

(10:53) HUGE Arbitrage Mistakes to Avoid

(14:50) How to Invest Your Home Equity

(21:38) Inheriting Tenants & Raising Rents

(31:58) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-451

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Rental Property Analysis in 2024: Find Cash Flow Even w/High Interest Rates Aug 28, 2024

Show notes

Deal analysis is an essential tool in the investor’s toolkit and maybe the most crucial skill for breaking into real estate investing. Have you ever wondered how other investors can find a rental property, run the numbers, and buy with confidence? Well, you’re in luck because we’re dedicating an entire episode to this vital skill!

Welcome back to the Real Estate Rookie podcast! Today, Ashley and Tony are going to show you how to analyze real estate deals like a pro investor. First, you’ll need to determine your “why” for investing and choose your investing strategy. But after that, we’ll dive right into the most important factors to consider when breaking down a deal. Interest rates are a sticking point for many investors, and today’s high rates keep many of them on the sidelines. But we’ll share why this is a HUGE mistake and why your rate shouldn’t stop you from snatching up a great deal.

We’ll also discuss two types of properties that cash flow and how to find them, as well as how you can gain a competitive edge in your market by adjusting your buy box to include the properties other buyers are overlooking. Don’t go anywhere because we’ll even address some of the biggest mistakes we see rookies making—pitfalls that could hold you back from landing a home-run deal!

In This Episode We Cover:

The two things to pin down before you start analyzing properties

Two types of properties to buy if you’re investing for cash flow

Why you shouldn’t stop buying deals just because interest rates are higher

The most important factors to weigh for real estate investment analysis

The cash-flow-killing costs investors neglect when running the numbers

How to gain a competitive edge in your market by tweaking your buy box

Why you must niche down to neighborhoods when choosing where to invest

And So Much More!

Links from the Show

Buy the Book “Real Estate by the Numbers”

Introduction to Real Estate Investment Analysis

(00:00) Intro

(00:46) Deals Gone Wrong!

(06:02) Finding Your “Why” & Strategy

(09:12) Investing for Cash Flow

(15:56) Do Interest Rates Matter?

(21:29) Interest Rate Strategies

(28:29) Other KEY Factors

(32:35) Biggest Analysis Mistakes

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-450

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Bankruptcy to Financial Freedom in Under 10 Years with a $1M+ Net Worth w/Diem Martin Aug 26, 2024

Show notes

From bankruptcy to financial freedom in just ten years?! Today’s guest is living proof that past money mistakes don’t disqualify you from building wealth with real estate. Whether you’re neck-deep in debt or struggling to save, you’re only ever a few steps away from taking control of your financial future!

Welcome back to the Real Estate Rookie podcast! By 2014, Diem Martin had filed for bankruptcy. Ten years later, she has achieved financial freedom with eight doors across four properties and has a $1.2 million net worth. How did she do it? She used the same investing strategy that so many newbies use to break into real estate—house hacking. Each new property allowed her to save for her next down payment, and in just eight years, she had built her entire real estate portfolio. If she can do it, you can too!

Stay tuned if you want to learn how to get pre-approved for a loan after a major financial incident, as well as how to invest in an expensive market without a ton of money. You’ll also learn why you should always make sure a property will cash flow as a long-term rental before buying it. We even dive into financial independence retire early (FIRE), determining your FI number, and how to reach your goal as soon as possible through real estate!

In This Episode We Cover:

How Diem went from bankrupt to financially free in just ten years

How to buy a rental property in an expensive market without a lot of money

Why you must make sure an Airbnb works as a long-term rental before buying it

Boosting your house hacking cash flow by creating units on existing properties

How to get pre-approved for a mortgage after a dent in your credit

Financial independence retire early (FIRE) explained (and how to get there!)

And So Much More!

Links from the Show

Buy the Book “The House Hacking Strategy”

Diem’s Instagram

Can I Get a Loan After Filing for Bankruptcy?

(00:00) Intro

(00:59) Bankruptcy to Buying a House

(06:24) Choosing Bankruptcy & FHA Loans

(12:46) First Deal & Current Portfolio

(18:04) Changing Strategies & Managing Rentals

(24:34) Chasing Financial Freedom

(32:06) Never Stop Learning!

(34:27) Connect with Diem!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-449

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Rookie Reply: House Hacking 101! Which Property to Buy & How to Scale Fast Aug 23, 2024

Show notes

House hacking might be the easiest way to get into real estate. This beginner-friendly investing strategy involves little risk, works with several types of properties, and can cover your entire mortgage. But don’t just take our word for it—today’s guest host was able to build and scale his real estate portfolio using this strategy!

Welcome back to another Rookie Reply! In today’s episode, Ashley and Noah Bacon are zeroing in on house hacking questions from the BiggerPockets Forums. First, can you create $1,000, $2,000, $3,000, or more in monthly cash flow just by house hacking? How long would this take and how many doors would you need? The answer might surprise you! We also discuss LLCs, whether you need one, and what you should know before transferring a property from your personal name. Finally, you’ll learn which properties make the BEST house hacks and what to do when you can’t find the right deal!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover:

The BEST properties for house hacking (and what to do when you can’t find one!)

Creative ways to maximize your cash flow on any house hack

How to scale your real estate portfolio FAST with serial house hacking

Umbrella policies versus LLCs (and which one you need for your property)

What you MUST know before transferring a property from your name to an LLC

How to find tenants when renting by the room (and how to protect your privacy)

And So Much More!

Links from the Show