Real Estate Rookie

2 Long-Distance Rentals with $0 Down with Tony Robinson

How to Invest in Short Term Rentals (STR)

Books Mentioned in the Show

Real Estate Partnerships by Ashley Kehr & Tony Robinson

Connect with Noah:

Noah's BiggerPockets Profile

Noah's Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-327

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326: The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals w/Nate Robbins Sep 30, 2023

Show notes

Finding off-market real estate deals can be a great way to kick off your investing career, as it requires very little money to get started. The catch? You must be willing to get your hands dirty.

Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with real estate wholesaler Nate Robbins. After a long and successful career in banking, Nate was beginning to feel burnt out and frustrated with life. As fate would have it, he ran into Tarl Yarber—one of the most successful real estate investors in the Pacific Northwest. Under Tarl’s mentorship, Nate learned the ropes of real estate investing. With his strong people skills, natural ability to communicate, and infectious personality, he was able to carve out a niche in acquisitions—where he has been able to close off-market deals at a massive profit.

If you need real estate to be your escape rope from the monotony of your nine-to-five, this episode is for you! Nate talks about shedding the W2 mentality and how to find the best investing strategy for you. He also shares his step-by-step process for finding highly profitable off-market deals. Whether you’re a bubbly extrovert or a cautious introvert, Nate will equip you with practical tips on how to engage a seller and get your foot in the door!

In This Episode We Cover:

Finding the BEST off-market deals through the power of driving for dollars

How to invest in real estate with little to no disposable income

Choosing the “risk” of real estate over the “safety” of a nine-to-five job

How to shed your W2 mentality when transitioning to a career in real estate

The perfect cold-calling script to use when contacting an off-market seller

Important steps to take when walking a distressed property

And So Much More!

Links from the Show

How to Wholesale Real Estate With No Money

How Invelo Can Help You Find Off-Market Deals (No Experience Required!)

Propstream

Invelo

Download The Driving for Dollars App to Find Off-Market Deals Today

Books Mentioned in the Show

Real Estate Partnerships by Ashley Kehr & Tony Robinson”:

The Good Life by Robert Waldinger M.D.

Connect with Nate:

Nate's BiggerPockets Profile

Nate's Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-326

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325: How to Retire with “Turnkey” Rental Properties (as a COMPLETE Beginner) w/Sam Dolciné Sep 27, 2023

Show notes

You can retire with rental properties faster than you think. That’s right, toss out the “wait until I’m sixty-five and HOPE I have enough” mentality. That might be okay for most Americans, but it’s NOT okay for YOU. You want passive income flowing in so you can spend time with your family and friends and live a life you love. If you’re going to get there, you better take advice from Sam Dolciné.

A few years ago, Sam calculated his retirement savings and realized he wasn’t even CLOSE to what he would need in retirement. Even after the monthly contributions and employer match, Sam would run out of retirement savings in only ten years of retirement. So, he started looking up ways to boost his retirement income. Real estate investing popped up, and Sam began devouring all the investing content he could.

Now, he’s managing a portfolio of out-of-state rental properties that bring in some serious cash flow. The best part about Sam’s portfolio? It’s “turnkey,” meaning Sam was able to buy the properties and immediately rent them out, giving him cash flow within WEEKS of closing on his first couple of deals. Now, Sam is on the hunt for even more passive income. Repeat his steps, and you could be counting cash flow, too!

In This Episode We Cover:

How to retire with rental properties and why “turnkey” rentals might be your best bet

Out-of-state real estate investing and whether cheaper markets are worth buying in

How to find the perfect real estate market for your cash flow goals

Self-management vs. property management and why Sam chose to do it himself

The tenant and property “red flags” you MUST look out for as a rookie

Tools that Sam uses to run his real estate portfolio from multiple states away

And So Much More!

Links from the Show

Network with Other Investors On the BiggerPockets Forums

Dave Meyer Blog Posts

“On the Market” Podcast

Apartments.com

Monday.com

Rentometer

Traveling the World Thanks to One $6,500/Month Rental Property w/Olivia Tati

Book Mentioned in the Show

Real Estate by the Numbers by J Scott & Dave Meyer

Connect with Sam:

Sam's BiggerPockets Profile

Sam's Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-325

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324: Rookie Reply: How to Make an IRRESISTIBLE Offer Through Creative Financing Sep 23, 2023

Show notes

Creative financing can be a powerful tool to help you get YOUR first property in the bag. In this episode, Ashley and Tony explain the biggest differences between hard money, private money, and traditional lending, as well as which options will make your offer irresistible to a seller!

Welcome back to another Rookie Reply! If you need capital for a new deal, you might consider partnering with a parent. Of course, like any investing partnership, it’s critical that you structure it properly and include all important terms in your agreement. Our hosts will show you how! They also cover cash-out refinancing in detail, including how it works and how much money you can pull from a property. Finally, they talk about using wasted space in your investment property to make more cash flow! Do you need to pull permits? Will you get caught if you don’t? Stick around ‘till the end to find out!

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:

Using creative financing to make an offer more attractive to a seller

The biggest pros and cons of traditional lending, hard money, and private money (and when to use which)

Partnering with your parents and key terms to include in your agreement

When to order an inspection before submitting an offer on a property

Adding a new room in your home (and when you NEED to pull permits)

How cash-out refinancing works and how much money you can pull out

And So Much More!

Links from the Show

Grab Your Copy of “Real Estate Partnerships” and Use Code “ASHLEY” or “TONY” for a Discount

What Is Creative Financing And How to Use It in Real Estate

What Investors Should Know About the Home Inspection Process

Follow Patrick and Danielle McGrath on Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-324

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323: 10 Real Estate Deals in 18 Months After Losing 80% of His Income w/Matt Ramirez Sep 20, 2023

Show notes

Completing ten real estate deals in only eighteen months might seem ambitious for a rookie investor, but today’s guest had no choice after experiencing a MAJOR loss of income.

In this episode of the Real Estate Rookie podcast, we’re chatting with fitness mentor, professional stuntman, and new investor Matt Ramirez. Between his thriving health business and steady television stunt work, Matt and his family were in a good place financially. Then 2020 hit. With stay-at-home orders and the film industry shutting down, Matt was suddenly making just twenty percent of his usual income. Providentially, he discovered BiggerPockets, caught the real estate bug, and was determined to make a career out of flipping houses. But, like many rookie investors, Matt still had some tough lessons to learn along the way!

If financial hardship has thrown a wrench in your real estate journey, draw inspiration from Matt’s story. Despite struggling to get approved for financing early on and losing money on his third flip, Matt never gave up on his real estate dream. In this episode, he’ll show you how to find the best real estate deals, get financing with inconsistent income, and hire dependable contractors for your rehab projects!

In This Episode We Cover:

Scaling your real estate business FAST without a large income

Finding great real estate deals by leveraging your network

How to get a hard money loan as a first-time investor

DIY home renovation projects you can tackle yourself

The biggest red flags to look out for when hiring a contractor

And So Much More!

Links from the Show

DIY Real Estate Hacks That Will Save You a FORTUNE on Your Deals w/ Shaun Kelly

Flipping Houses: How to Get Started and Everything You Should Know

Get Information on Properties with PropStream

Connect with Matt:

Matt's BiggerPockets Profile

Matt's Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-323

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322: Rookie Reply: Mortgage Write-Offs, Buying with an LLC, & Boozy Airbnb Gifts Sep 16, 2023

Show notes

Your new Airbnb is set up and ready to go. You’re just finishing up the welcome gift and slipping in a bottle of wine as a pleasant surprise for your guest. Oops…you might have just put yourself in a BAD position. On this week’s Rookie Reply, Ashley and Tony are getting into the moral muddiness of including boozy gifts in your welcome package, how to account for your mortgage interest expense, and when you should (and shouldn’t) buy a property in an LLC.

You’ve got the real estate questions; Ashley and Tony have the answers. But we’re not just debating whether your guests should crack a couple cold ones on your dime. We’ll also get into how to find past purchase prices for ANY home, a property tax breakdown with some tips to save you money, and the difference between appraised and assessed value.

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:

Real estate LLCs: when they’re worth it, when they’re not, and who should use them

Mortgage interest write-offs and whether you should count your biggest monthly payment as an expense

Welcome gifts and whether or not adding alcohol could cause you trouble

Where to find past purchase prices for ANY property in your area

How property taxes are determined and why you want your appraisals HIGH and your assessed values LOW

And So Much More!

Links from the Show

Calculate Your Interest Write-Off with The BiggerPockets Rental Property Calculator

Do Landlords Need an LLC for Rental Property?

Mortgage Interest Deductions 101: What You Should Know

Look Up Past Property Prices:Invelo, & PropStream

Check Out Unforgettable Stays with Dell Collective

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-322

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321: The Fast Track to Financial Freedom & Turning $29K into $1.5M by Doing THIS w/Joe and Andrea DelGrosso Sep 13, 2023

Show notes

If your end goal is financial freedom, investing in real estate is one of the best ways to get there. But, if you want to reach that goal sooner rather than later, you may need to leverage several strategies at once. Today’s guests were able to fast-track their journey to financial freedom by doing just that!

In this episode of the Real Estate Rookie podcast, we’re chatting with husband-and-wife real estate duo Joe and Andrea DelGrosso. Their investing journey started back in 2016 when they bought a single-family rental without knowing very much about real estate. Although they initially invested for some extra financial stability, their focus shifted in 2019. As they started tuning into BiggerPockets and educating themselves about real estate, they realized that there were ways to expedite their path to financial freedom—tapping into equity to turn tens of thousands into MILLIONS.

Today, the DelGrossos have a modest portfolio of ten properties. Stick around as they share how they were able to create multiple revenue streams from a single property, as well as why they made the transition from long-term rentals to short-term rentals. For rookies who are still deciding on which real estate strategy to use, they touch on everything from 1031 exchanges to BRRRRs and more!

In This Episode We Cover:

Reaching financial freedom faster by combining multiple investing strategies

How to create multiple streams of income from ONE property

How to get your spouse on board with real estate investing

Leveraging the equity in your properties to grow your portfolio FAST

How to avoid capital gains taxes using a 1031 exchange

And So Much More!

Links from the Show

Hear Our Recent Interview with Mike Michalowicz

Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments w/ Avery Carl

Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/ Chad Carson

Follow Lauren Mattina on Instagram

Connect with Joe and Andrea:

Joe's BiggerPockets Profile

Joe and Andrea's Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-321

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

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320: How to Work LESS and Earn MORE by Putting "Profit First" in Real Estate w/Mike Michalowicz Sep 09, 2023

Show notes

We know what you want: more profit while working less in your real estate business. As a rookie, investing in real estate can sometimes seem like more trouble than it’s worth. But, a few simple adjustments can take HOURS off your plate while making you more money than you can imagine, as today’s special guest will demonstrate!

Welcome back to the Real Estate Rookie podcast! In this episode, we’re joined by Mike Michalowicz—serial entrepreneur, business coach, and multi-time best-selling author. Today, we’re dialing in on two of Mike’s books—Profit First and Clockwork—and discussing how they can help YOU in real estate. If you feel like you’re treading water with your real estate business, this is an episode you need to hear!

By turning the traditional profit formula on its head, Mike shows you how to rewire your brain and the way you think about profit. You’ll learn the importance of paying yourself first and building a buffer for the inevitable expenses you incur as a real estate investor. You’ll also learn about the first hire ALL business owners should make and how to free up more of your valuable time through the power of delegation.

In This Episode We Cover:

The importance of paying yourself first (flip the profit formula!)

How to start delegating tasks you don’t need to be doing

Determining a realistic amount to pay yourself from your property business

The first hire EVERY real estate business owner MUST make

Tools you NEED to effectively onboard a new virtual assistant

Improving your business and freeing up time with “captures”

And So Much More!

Links from the Show

Find Money, Partners, & Deals Using The “D.A.D System” w/ Mike Michalowicz

How to Guarantee Profit From Day 1 w/ Mike Michalowicz

Grab Your Copy of “Profit First” and “Clockwork”

Join Relay for Profit First Banking

Grab Your Copy of “Getting Things Done”

Follow Andrea Cwik on Instagram

Connect with Mike:

The Entrepreneurship Elevated Podcast

Mike’s Website

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-320

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319: The Beginner’s Guide to Real Estate Development (with LOW Money Down!) w/Terry Harris Sep 06, 2023

Show notes

Getting into real estate development with low money down!? Many rookies assume that you need more money to develop, but there are a variety of ways to fund these projects. It all depends on how creative you’re willing to get! Today’s guest learned quickly that you don’t need a huge pile of cash to start building your own properties.

Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with Terry Harris—a former professional basketball player turned real estate developer. When we last spoke with Terry, he was wholesaling real estate for a decent profit. Since then, he has transitioned into the development side of real estate and grown his business dramatically. Simply by bringing great land deals to developers and providing a valuable service, Terry was able to learn the ropes and gain enough knowledge to develop his own properties.

Whether you have huge dreams of building city skylines or an end goal of owning a rental property or two, you’ll want to hear Terry’s story. In this episode, he talks abouthow to find the best land deals, creative ways to fund projects, and how to assemble a top-tier development team. He also touches on our favorite topic as of late, partnerships, and how to bring real value to another investor when you don’t have the capital!

In This Episode We Cover:

How to become a real estate developer (without a ton of money!)

Funding your deals with construction loans (and paying less out of pocket!)

How to seamlessly pivot from one real estate strategy to another

Scaling your real estate business through the power of partnerships

Ways to bring value to a partnership deal beyond capital

How to assemble your DREAM team as a real estate developer

And So Much More!

Links from the Show

20 Deals in a Year as a Professional Basketball Player w/ Terry Harris

Grab Your Copy of “Real Estate Partnerships”

Get Information on Properties with PropStream

Follow Lady Gina on Instagram

Connect with Terry

Terry's BiggerPockets Profile

Terry's Instagram

Terry's YouTube

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-319

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318: Rookie Reply: No Capital OR Credit? Get Deals Done with THIS Financing Tool Sep 02, 2023

Show notes

Don’t have the capital OR credit to invest? Seller financing is a powerful tool that could allow you to score multiple real estate deals without ever going through a bank. The best part? You can create your own terms! You just need to put together an effective pitch that wins the seller over. Today, we’ll show you how!

Welcome to another Rookie Reply! In addition to seller financing, Ashley and Tony cover several CRUCIAL real estate topics in this episode—from critical first steps to take before investing to closing costs—who pays for what? Does paying cash make a difference? Stick around to find out! Off the back of their new book, Real Estate Partnerships, they also tackle a couple of partnership-related questions—when it makes sense to get a partner and how to structure an agreement where both sides are compensated!

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 invest in real estate without capital OR credit

How to effectively pitch seller financing (and KEY terms to include!)

Three critical first steps to take before buying real estate

Buyer and seller responsibilities when it comes to closing costs

Accounting for sweat equity when setting up a partnership

How to structure a partnership agreement where both sides are fairly compensated

And So Much More!

Links from the Show