Real Estate Rookie

Grab Your Copy of “Real Estate Partnerships” Today

When It Comes to the Lease, Don’t Leave Any Wiggle Room

Follow Gaby and Ciara on Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-316

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315: House Poor to HUGE Cash Flow by Doing THIS: Robuilt’s Rags-to-Riches Story w/Rob Abasolo Aug 23, 2023

Show notes

Going from house poor to earning HUGE cash flow and building a real estate empire? The journey to wealth through real estate was no walk in the park for today’s special guest. After figuring out that someone else would actually pay his mortgage for him, however, it became a whole lot easier!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by none other than Rob (Robuilt) Abasolo—investor, YouTuber, and co-host of the BiggerPockets Real Estate podcast. Born to first-generation immigrants who worked tirelessly to provide him with a better life, Rob grew up knowing how to live below his means. Little did he know that this mindset would prove critical when he and his wife were stuck with a mortgage payment they couldn’t afford. It was at this time that Rob discovered house hacking and put the strategy to the test—with enormous success! Ultimately, this proof of concept would give him the courage to build and scale his very own real estate business.

If you need to be reminded that investing in real estate is a viable path to financial freedom, look no further than this ultimate rags-to-riches story. As Rob reflects on his days as a rookie investor, he shares why it’s so important to document your journey, different ways to subsidize your mortgage, and how to get your spouse on board with your real estate obsession!

In This Episode We Cover:

Why you NEED to start documenting your real estate journey today

Supplementing your income with creative side hustle ideas

How to get your spouse on board with your real estate ventures

Subsidizing your mortgage payment through house hacking and rental arbitrage

Using proof of concept to scale your real estate business

Money-saving DIY home renovation projects (and when to hire a pro instead!)

And So Much More!

Links from the Show

Listen to the "BiggerPockets Real Estate" Podcast

Meet Rob at BPCon 2023 in Orlando

10 Deals on a $20K Waitress Salary With Ashley Hamilton

Connect with Rob:

Rob's BiggerPockets Profile

Join Rob at HostCon on October 28–30 in Houston, TX

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-315

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

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314: Rookie Reply: Mortgage Points, Seasoning Periods, and Cash-Out Refinancing 101 Aug 19, 2023

Show notes

Are mortgage points really worth it? In many cases, they can save you money on a loan. But be careful; that lower rate might not be worth the cash you put up! It’s important to run the numbers before doing a mortgage buydown, and our trusted hosts are here to show you how!

Welcome to this week’s Rookie Reply! In this episode, Ashley and Tony talk about mortgage points and when they make sense for real estate investors. They also discuss cash-out refinancing in depth—how much you can pull from a property, why banks enforce a “seasoning period,” and how to potentially get around it! Looking to go digital with your rentals? Our experts list the pros and cons of installing keyless entry pads. Finally, they provide the FREE tools you can use to get updated property information!

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:

Mortgage points and why you MUST do the math before a buydown

Seasoning periods and how long you might need to wait before refinancing

How much cash you’re able to pull in a cash-out refinance

How to choose between short-term and long-term rental strategies

Pros and cons of installing keyless entry pads for your rentals

FREE tools you can use to get accurate information about a property

And So Much More!

Links from the Show

Find Your Next Off-Market Deal, with Invelo

Change Your Locks with Ease by Purchasing Core Inserts

Follow Emma Kioko on Instagram

Books Mentioned in This Episode

Real Estate Partnerships by Ashley Kehr & Tony Robinson

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-314

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313: The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong w/Tyrin Tyson Aug 16, 2023

Show notes

No real estate investing journey is ever sunshine and rainbows, but some are certainly more difficult than others. Many rookie investors are either so fearful of making a mistake that they experience “analysis paralysis” or are so eager to own property that they rush into several costly mistakes. Today’s guest fell into the latter camp!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Tyrin Tyson, a travel nurse who made his fair share of mistakes on the way to his first deal. After working tirelessly to save up extra cash for real estate, Ty hastily bought two properties at an auction. Come to find out, they weren’t exactly as advertised. To make matters worse, some bad advice led to a nightmare rehab project that went $20,000 over budget and took nearly two years to complete.

If you want a realistic picture of the average real estate journey, this is an episode you won’t want to miss! Hear how Ty earned the capital to invest (including a fun side hustle!), weathered the storms of his first deal, and found a real estate community that pushed him to keep going when giving up seemed like the best option.

In This Episode We Cover:

Why you MUST have a game plan before buying real estate

The two challenges you are likely to face without a real estate community

How to find a mentor who will point you in the right direction

The pros and cons of long-distance investing vs. staying in your market

How to spot a nightmare renovation project when estimating rehab costs

Creative side hustle ideas you can use to fund your real estate deals

And So Much More!

Links from the Show

Manage Your Rental Property with Stessa

Books Mentioned in This Episode

The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Hann & Matt MacFarland

Real Estate Partnerships by Ashley Kehr & Tony Robinson

The Cashflow Quadrant by Robert Kiyosaki

Connect with Tyrin:

Tyrin's YouTube

Tyrin's Instagram

Tyrin's LinkedIn

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-313

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312: Rookie Reply: The Seller Hasn't Responded...What Do I Do? Aug 12, 2023

Show notes

You recently submitted an offer on a house, but you haven’t heard back from the seller. Now what? As an eager rookie investor, the waiting game can be painful. You may already have an eye on other properties but need the capital to invest. Should you withdraw your original offer? Fortunately, Ashley and Tony have a few helpful tips to make your decision a little easier.

Welcome back to another Rookie Reply! In this episode, our hosts tackle several important topics—including when to pull an offer on a house and whether you should create an LLC when buying your first property. They also discuss the biggest differences between single-family and multifamily real estate and which type of property is best for rookie investors to target. Finally, they talk about how to become a private money lender and the two important documents that should be in place before you lend a penny!

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:

Rescinding an offer on a house when you don’t hear from the seller

Whether to buy a single-family or multifamily property for your first deal

LLCs and whether you need one when buying your first property

How to become a private money lender (and what you need to protect yourself!)

The two documents that MUST be in place before lending money

And So Much More!

Links from the Show

Hear Our Full Episode on Real Estate Partnerships

Grab Your Copy of “Real Estate Partnerships” Today

How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability

Follow Mindy Templeton on Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-312

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311: DIY Real Estate Hacks That Will Save You a FORTUNE on Your Deals w/Shaun Kelly Aug 09, 2023

Show notes

Some simple DIY investing hacks could save you thousands of dollars. But, as a rookie, the thought of tackling your own home renovation projects might be a little intimidating. Bringing sweat equity to a deal, however, can help you save a ton of money and even make you more valuable in a partnership.

In this episode of the Real Estate Rookie podcast, we’re chatting with Shaun Kelly, whose road to real estate investing was anything but fast or easy. Shaun spent nine years in the analysis paralysis phase before he finally pulled the trigger on his first deal. Since then, he has built a portfolio of nine properties in four years and has refined his DIY skill set to the point where he can perform all types of rehab projects for a fraction of the typical cost.

Whether you’re looking for creative ways to increase profits on your investment properties or bring value other than capital to a partnership, tune in to hear Shaun’s biggest money-saving DIY hacks and his journey, from making simple fixes to performing major home renovations. Ashley and Tony discuss their own experiences with DIY projects and list the jobs they prefer to outsource to a pro!

In This Episode We Cover

DIY hacks that will help you save a FORTUNE on home renovation projects

How to stop overanalyzing and finally land your first real estate deal

How to account for sweat equity when structuring a partnership

The importance of documenting your journey as a new real estate investor

Harnessing the power of YouTube to build your network and create another income stream

And So Much More!

Links from the Show

Analyze Your Deals with the BiggerPockets Investment Calculators

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

Follow Ashley Wilson on Instagram

Book Mentioned in the Show:

Real Estate Partnerships by Ashley Kehr and Tony Robinson

The Gap and the Gain by Dan Sullivan

Connect with Shaun:

Shaun's BiggerPockets Profile

Shaun's YouTube

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-311

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

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310: How to Grow Your Rental Portfolio EVEN Faster w/Real Estate Partnerships Aug 05, 2023

Show notes

Do you really need a real estate partnership for your deals? What are the benefits, and do they outweigh the risks? Well, it depends. The truth is that, while great partnerships will deliver value to both sides, bad partnerships will turn belly-up in no time.

Welcome a very special edition of the Real Estate Rookie podcast, where our hosts, Tony and Ashley, talk about their latest book, Real Estate Partnerships. There are several reasons why a rookie investor might benefit from having a partner. Maybe they lack the capital for a particular deal, or maybe there are knowledge gaps where the expertise of a more seasoned investor might prove helpful.

If you’ve wondered whether forming a partnership is the right move for you, you’re in luck—this episode is all about partnerships! Tune in to learn where to look for a partner, how to structure a partnership, and the differences between equity partnerships and debt partnerships. Our hosts also share the single greatest sign of whether a partnership will succeed.

Remember to grab your copy of Real Estate Partnerships and use code “PARTNER310” at checkout for an exclusive discount!

In This Episode We Cover

Four signs that you NEED a partnership to succeed in real estate

The best places to look for a real estate partner

Choosing a partner with a compatible personality and complementary skill set

How to properly structure your real estate partnership (and splitting the deal!)

Important points you MUST include in your partnership agreement

The main differences between equity partnerships and debt partnerships

And So Much More!

Links from the Show

Hear David and Rob on the “BiggerPockets Real Estate” Podcast

How to Use the DISC Profile to Communicate Effectively in Business

David's BiggerPockets Profile

David's Instagram

Rob's BiggerPockets Profile

Rob's Instagram

Book Mentioned in the Show:

Grab Your Copy of “Real Estate Partnerships” and Use Code “PARTNER310” at Checkout

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-310

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

309: How to Quit Your W2 Job and Replace Your Income with Just 6 Rentals w/Travis Hall Aug 02, 2023

Show notes

A small real estate portfolio that replaces your entire W2 income!? Many rookies assume that becoming a full-time investor is only possible after amassing a large portfolio with dozens of properties, but that’s not the case. Today’s guest was able to meet his family’s monthly income goals with only six rentals!

In this episode of the Real Estate Rookie podcast, we’re speaking (in person!) with Travis Hall, an investor who knew very little about real estate just 18 months ago. After seeing the stress that his wife’s rigorous W2 job was creating, Travis discovered BiggerPockets and caught the real estate bug. The rest is history. Today, he has a small portfolio of six rentals—all thanks to the power of networking, partnerships, and, most importantly, taking action.

If you’re ready to trade in the rigidity of your nine-to-five for the flexibility of real estate, tune in to hear Travis talk about his fast journey to full-time real estate investor. He spares no details when discussing his short-term rental strategy (including some VERY unique investments), as well as the monthly income goals he needed to meet to make full-time investing a reality.

Grab Ashley and Tony’s latest book, Real Estate Partnerships. Don’t forget to use code “REALESTATE” to get 10% off at checkout!

In This Episode We Cover

Replacing your W2 income through a small real estate portfolio

Combining the cash flow from multiple rentals to meet your income goals

Why you NEED to review your market’s short-term rental regulations BEFORE closing a deal

Airbnb arbitrage (and how to convince a landlord to let you do it!)

Using Facebook groups to find partners for future real estate deals

How to start managing other properties with ZERO capital

And So Much More!

Links from the Show

Hear Our Interview with Chad “Coach” Carson On the Small and Mighty Rental Portfolio

Follow David Greene on Instagram

Book Mentioned in the Show:

Pre-Order The New Book “Real Estate Partnerships” and Use Code “REALESTATE” to Get 10% Off

Connect with Travis:

Travis' Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-309

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

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308: Rookie Reply: Don’t Chase Cash Flow! Use THIS Metric to Analyze Your Deals Jul 29, 2023

Show notes

How important is cash flow when analyzing real estate deals? Many rookies zero in on this familiar figure when crunching the numbers, but there’s another metric that is FAR more important: cash-on-cash return. This simple but powerful equation can help you determine whether an investment property is worth buying!

Welcome to another Rookie Reply! Many rookies struggle to analyze deals when starting out. Fortunately, Ashley and Tony are here to show you exactly how to calculate your cash-on-cash return on a property. They discuss when to use lines of credit to help fund deals, as well as how to pitch seller financing options that make sense for both sides. They also talk about the home appraisal process and, finally, whether an offer on a property can ever be TOO low!

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

Why you should use cash-on-cash return over cash flow when analyzing deals

How low is TOO low when making an offer on a property

When it makes sense to use a line of credit for a down payment

The purpose of appraisals and when you might need to order one

How to effectively pitch seller financing options so both sides walk away with a win

And So Much More!

Links from the Show