Real Estate Rookie

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What You Need to Do NOW to Pay Fewer Taxes in 2024

How to (Legally) Avoid Taxes by Investing in Real Estate

Seeing Greene: CPAs Answer YOUR Top Investing and Tax Questions

The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of

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Natalie's BiggerPockets Profile

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-368

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367: How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal Feb 14, 2024

Show notes

Commercial real estate investing might seem intimidating, but in many cases, this kind of rental property is even easier to buy than a single-family home. After two failed attempts, our own Tony Robinson unlocked the blueprint for buying commercial properties as a beginner!

Welcome back to the Real Estate Rookie podcast! Recently, Tony took down his very first commercial deal—a thirteen-unit property he plans to transform into a hotel with self-check-in convenience. But this huge triumph didn’t come without a few costly mistakes. Before landing his “golden goose,” Tony missed out on two properties and lost thousands of dollars in the process. By his third attempt, however, he had cracked the code!

If you want to scale your real estate portfolio and become a full-time investor, buying a commercial property might be your best bet. In this episode, Tony dives into the numbers and projections for his new hotel, as well as the biggest takeaways from his experience. He also shares how to find a market for a niche property, how to raise private capital for a large deal, and why it’s easier to approach an owner about seller financing on a commercial deal!

In This Episode We Cover:

How to buy commercial real estate as a novice investor

Finding the right market for your niche property

How to raise capital to take down even bigger real estate deals

The five factors that determine if you can compete in a market

Why you NEED to develop your network before buying commercial real estate

When to hire your first employee for your real estate business

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

Grab Your Copy of “Real Estate Partnerships”

Why Self-Storage Beats Rental Properties

Commercial Real Estate Fundamentals for Successful Investors

Scaling from Single Family to Commercial Real Estate

Find Your Next Commercial Property:

Crexi

LoopNet

BizBuySell

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-367

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366: The EASIEST Way to Get into Real Estate Investing With NO Money w/Amina Stevens Feb 12, 2024

Show notes

Choosing to wholesale real estate might be the EASIEST way to kick-start your real estate investing journey. You don’t need a ton of money and you don’t need to take on debt. And with a couple of deals under your belt, you’ll have the money to buy your own investment properties!

Welcome back to the Real Estate Rookie podcast! Today, Amina Stevens is an investor, wholesaler, and the host of First-Time Buyer's Club on the Oprah Winfrey Network. But only a few years ago, Amina was a high-school educator who was teaching kids to “follow their dreams” without following any of her own. So, she left her “safe” career, got her license, and found a real estate mentor who showed her the ropes of wholesaling land.

Want to invest in real estate but feel you don’t have the money or connections to start? Wholesaling could be the perfect strategy to get your foot in the door! In this episode, Amina shares how she chose her market, found sellers and buyers, and built a six-figure real estate business from the ground up—everything you could need to get started today!

In This Episode We Cover:

The “easiest” way to get into real estate with NO money

How Amina built a six-figure business in only a few months

Why you NEED a mentor to help fast-track your investing journey

How to get money to buy investment properties by wholesaling land

The systems and processes YOU need for a successful real estate business

How to find the perfect market for your real estate investing strategy

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

A 60-Day Action Guide to Wholesaling Your First Property

Real Estate Wholesaling: Profit Parasites or Property Investors’ Best Friend?

PropStream

LandGlide

LandVision

Connect with Amina

“First-Time Buyer’s Club”

Amina's Instagram: @homesbyamina

Amina's Twitter: @homesbyamina

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-366

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365: Rookie Reply: How to Analyze Deals Like a PRO (Use THESE Numbers & Tools) Feb 08, 2024

Show notes

You could spend HOURS breaking down deals for cash flow, cash-on-cash return, return on investment, price-to-rent ratio, and countless other metrics. What do these terms mean, and which one is most important when analyzing rental properties? Today, we’ll show you how to streamline this process so you can check out MORE deals!

In this Rookie Reply, you’ll learn how to analyze deals the right way, find off-market properties without spending a dime, and make offers on properties you haven’t seen. We also get into house hacking and why covering your mortgage payment isn’t necessary for a great deal. Finally, stick around until the end for the inside scoop on our hosts’ most recent ventures. Tony spills the beans on his first commercial property, while Ashley shares about the “pocket listing” she landed in the city!

If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).

In This Episode We Cover:

The most important metrics to look at when analyzing a deal

How to find off-market real estate deals for FREE

How to make an offer on a property you haven’t seen

Why you should house hack (even if it doesn’t cover your mortgage!)

Tony’s UNIQUE commercial real estate investing experience and Ashley’s “pocket listing” gem

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

Brush Up on Your Real Estate Terms

The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals

Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties

Ep #362: Rookie Reply: HELOCs Explained and How to Invest with BAD Credit

Tools to Help You Analyze Deals:

Book Mentioned in the Show

The House Hacking Strategy by Craig Curelop

Real Estate by the Numbers by J Scott & Dave Meyer

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-365

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

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364: Making $115K From a Nightmare First Deal (Cops, Evictions, and Break-Ins!) w/Mitch Krotz Feb 07, 2024

Show notes

Is the fear of “what if?” stopping you from investing in real estate? You could learn a thing or two from today’s guest. Despite a “nightmare” first deal involving every worst-case scenario imaginable, he still managed to come away with an enormous profit!

Mitch Krotz had always wanted to buy a rental property, so when a great deal fell in his lap, it was a no-brainer! But then, seemingly everything that could go wrong did go wrong. Shortly after closing, Mitch was already evicting tenants and wading through trash in his heavily damaged unit. But that’s not all. Police showed up and discovered a grow house in the basement right before Mitch’s ex-tenants broke into the property. To cap things off, Mitch was hospitalized for meningitis during his DIY home renovations. While he had every reason to give up on real estate investing, his persistence paid off to the tune of $115,000 in profit.

If Mitch can do it, you can too! Stay tuned as he shares some of the most valuable lessons learned during his painful first deal. For one, if you’re going to take real estate seriously, you need to manage it like a real business. Invest in systems, organization, bookkeeping, and other tools that will set you up for success!

In This Episode We Cover:

Mitch’s biggest lessons learned from a painful first real estate deal

How to build an all-star team to help run your real estate business

When to DIY home improvement projects (and when to outsource them instead!)

Dealing with troublesome tenants and navigating the eviction process

Why you NEED to allow room for error in your margins

The “secret” up-and-coming market Mitch has identified for short-term rentals

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals

How I’m HELOCing My Way to Wealth

Should I Fix My Credit Before Attempting to Invest in Real Estate?

Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls

3 Steps to Start Investing in Real Estate + 2024 Mortgage Rate Predictions

Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio

Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property

Books Mentioned in the Show

The Small and Mighty Real Estate Investor by Chad Carson

Connect with Mitch

Mitch's BiggerPockets Profile

Mitch's Instagram: @krotzrocket11

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-364

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363: How to Start an Airbnb Business in a Brand New Market w/Melanie Wilmesher Feb 06, 2024

Show notes

Want to know how to start an Airbnb business? If you find the right deal and build an all-star team, you could squeeze a TON of cash flow from just one rental. And we’ve got the perfect guest to show you the ropes!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by former ninety-day mentee Melanie Wilmesher. Since we last spoke with Melanie, she has added a short-term rental property to her portfolio—this time, in an entirely different market! In this episode, she shares her biggest struggles and lessons learned from investing out-of-state. While one destructive house party left her with $4,000 in damages and nearly derailed her Airbnb investing strategy, Melanie credits her trusted team for getting the property back up and running in no time.

While short-term rentals can be wildly profitable, running them is not always a breeze. Melanie shares the highs and lows of her journey so that you can know what to expect in any situation! You’ll learn how to deal with bad reviews, find a great property manager for your rental, create the best possible guest experience, and more!

In This Episode We Cover:

How to start an Airbnb business that gives you more cash flow in 2024

Melanie’s biggest lessons learned from owning short-term rentals

How to deal with bad reviews you receive on Airbnb

Creating the ideal guest experience that gets you MORE bookings

Critical steps to take before buying a property “sight unseen”

Building your dream short-term rental team through networking and referrals

Why you NEED a top-notch property manager for out-of-state investing

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals

How I’m HELOCing My Way to Wealth

Should I Fix My Credit Before Attempting to Invest in Real Estate?

Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls

3 Steps to Start Investing in Real Estate + 2024 Mortgage Rate Predictions

Books Mentioned in the Show

Real Estate Partnerships by Ashley Kehr & Tony Robinson

The Intention Journal by Brandon Turner

Short-Term Rental, Long-Term Wealth by Avery Carl

Long-Distance Real Estate Investing by David Greene

Start with Strategy by Dave Meyer

Connect with Melanie

Melanie's BiggerPockets Profile

Melanie's Instagram

Melanie's LinkedIn

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-363

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

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362: Rookie Reply: HELOCs Explained and How to Invest with BAD Credit Feb 01, 2024

Show notes

Getting a home equity line of credit (HELOC) is one of the easiest ways to leverage your home equity and buy your first rental property. But what is the best way to use one? Are there any drawbacks? After today’s deep dive into HELOCs, you’ll have all the answers!

Welcome back to another Rookie Reply! In this episode, we’re not only looking at HELOCs but also comparing them to “evergreen loans” so that you can choose the right financing tool for you. Is bad credit preventing you from investing in real estate? You might have to get creative! Ashley and Tony offer several ways to invest while you’re fixing that credit score. Stick around until the end for the best value-adding home renovation projects that will help you raise rents!

If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).

In This Episode We Cover:

How to use a home equity line of credit to buy your first rental property

How to buy an investment property before fixing your credit

The BEST ways to invest in real estate with a small amount of cash

HELOCs vs. evergreen loans (and which one is right for YOU!)

Value-adding home renovation projects for your rental properties

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals

How I’m HELOCing My Way to Wealth

Should I Fix My Credit Before Attempting to Invest in Real Estate?

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-362

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

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361: How to Buy Your First Rental Property When You CAN’T Get Approved for a Loan w/Mike Previtera Jan 30, 2024

Show notes

Want to know how to buy your first rental property without money getting in the way? For years, Mike wanted to invest in real estate, but banks wouldn’t give him a loan. If you’re having the same issue, we’re here to help!

Welcome back to the Real Estate Rookie podcast! After multiple deals fell through during the financing stage, Mike Previtera realized he needed to work on his finances. So, he and his wife trimmed the fat from their budget and aggressively paid off bad debts. Mike even made changes to his lawnmowing business—raising rates and working extra hours to increase his income. Within one year, all of the hard work had paid off, as Mike was able to get financing for not only his first deal but also the deals that followed!

If your financial situation is holding you back from buying real estate, this episode is for you! Mike recalls the exact steps he took to get his finances in order. He also shares how he grew his network, which allowed him to find more deals and financing opportunities. Finally, he talks about some of his biggest investing mistakes—mistakes that YOU can avoid!

In This Episode We Cover:

How to buy your first rental property when you can’t get a loan

Finding deals, connections, and mentors through the power of networking

Why hustling for a season could help kickstart your real estate journey

How to lay your financial foundation before investing in real estate

The BEST strategies for finding deals as a new investor

The most common real estate investing pitfalls (and how to AVOID them!)

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects

Rookie Reply: How to Get 100% Financing for ALL of Your Real Estate Deals

Rookie Reply: Networking Tips That’ll Increase Your Net Worth

Connect with Mike:

Mike's BiggerPockets Profile

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-361

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

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360: Trespassers Took Over My Property! (How to Get Rid of Squatters ASAP) w/Leka Devatha Jan 25, 2024

Show notes

If there’s anyone who knows how to get rid of squatters, it’s Leka Devatha. Right before MCing the biggest real estate event of the year, BPCon 2023, Leka got a phone call from her property manager with the words no investor EVER wants to hear, “there are trespassers in the property.” What followed was months of legal back and forth, media attention, and some secret agent work from Leka to get these so-called “tenants” OUT of her property. In the end, Leka lost tens of thousands of dollars, but today, she’s going to share how to avoid the same fate.

Squatters know their rights and how long it takes landlords to kick them out of a property, so they come prepared. With everything from fake leases to moving over utilities, claiming the legitimate owners are liars, and doing ANYTHING they can to prove they belong in the house, modern-day squatters could live in your home for years unless you follow the same steps as Leka.

In today’s episode, Leka shares how she got two trespassers out of her house without going through the long, costly, and often unsuccessful eviction process, how she beat the squatters at their own game, and what YOU should do to stop ANY squatter from even THINKING about stealing from you.

In This Episode We Cover:

How to get squatters out of your house ASAP without waiting on the eviction process

The one type of rental property owner squatters LOVE to target

Hiring attorneys and why your legal team MUST be ready to make moves quickly

Canceling utilities and how to get this done as soon as a squatter takes over your property

“Squatters' rights” and how to beat squatters at their own game

Leka’s BIGGEST pieces of advice to avoid squatters and trespassers in the future

And So Much More!

Links from the Show

Apply to Be a Guest on the “Real Estate Rookie” Podcast

Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount

Creative Ways to Get Rid of Squatters: What’s Legal & What’s Not

What Landlords Need to Know About Squatter’s Rights

Watch Leka’s News Story

Minut Noise Monitoring

Connect with Leka:

Leka's BiggerPockets Profile

Leka's Instagram

Leka's LinkedIn

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-360

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

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359: From His Grandma’s Couch Making $15/Hour to $30K/Year from ONE Property w/Jaryn Pierson Jan 23, 2024

Show notes

Could ONE multifamily rental property change your life? Just five years ago, Jaryn Pierson was sleeping on his grandma’s couch, working a minimum-wage job, and getting sober. But when the right deal came along, it altered his financial future!

Welcome back to the Real Estate Rookie podcast! Jaryn discovered real estate during the lowest point of his life. When friends and family warned him not to invest, he bought a duplex in his hometown. Today, that property nets $30,000 in cash flow each year! Since then, he has only added to his portfolio—buying an eight-unit apartment building through a RARE seller financing opportunity and launching his own property management company. His old minimum-wage job? He’s still got it, only he has been promoted to general manager of multiple locations!

In this episode, Jaryn shares some of the biggest lessons he has learned during his real estate journey—from becoming a better Airbnb host to raising rents on long-term tenants. You’ll also learn how to find properties to manage, as well as why you should focus on stabilizing your portfolio rather than scaling it!

In This Episode We Cover:

Jaryn’s multifamily rental property that brings in $30,000 per pear

How to raise rents on existing tenants (and keep them happy!)

Avoiding the banks to get a GREAT deal with seller financing

Jaryn’s biggest lessons learned as an Airbnb host

How to find clients for your property management company

When to focus on stabilizing your portfolio instead of scaling your business

And So Much More!

Links from the Show