Real Estate Rookie

Real Estate Rookie Youtube Channel

Airstream

LandGlide

OnX Hunt

MLS

Connect with Ashley and Tony:

Ashley's BiggerPockets Profile

Tony's BiggerPockets Profile

How to manage your rentals while working a full-time job

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-268

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267: 24 Units in 2 Years by Making Your Rentals Match the Market w/Andrew Freed Mar 08, 2023

Show notes

Twenty-four rental units in two years! It’s possible, but only if you’re using the same principles that today’s guest has employed. With house hacking, HELOCs, the 80/20 rule, and a few more strategic investing moves, you too could fast-track your path to financial freedom. If you want to build your dream real estate portfolio without sacrificing decades in the process, these strategies will help you do it!

For Andrew Freed, a full-time project manager, real estate agent, and investor, these strategies have been life-changing. And even if you’re still a real estate rookie, you can do exactly what Andrew did to reach the same results. Thankfully, Andrew’s investing methods, tips, and tricks are well-rounded, well-developed, and easy to follow.

In this episode, Andrew walks us through how he managed to buy twenty-four units in two years, the moment the gears started turning in his mind, his personal development process, and the key principle that keeps him focused on his goals. Andrew also gives us his best advice for predicting and preventing problems in your rental properties, stabilizing, and raising the rent. From gaining the confidence to get started to finding investment partners, he offers valuable, step-by-step guidance we can all learn from.

In This Episode We Cover

The 80/20 principle and using it to cut out the unnecessary when investing

How focusing on personal development first can make you a better investor

Staying focused and getting to your goals faster

The key to gaining confidence and going after your dreams

The fastest ways to grow and scale your investment portfolio

Tips for predicting and preventing problems and stabilizing rental properties

Employing the "binder method" to set rent with inherited tenants

Using real estate meetups to find mentors and investment partners

And So Much More!

Links from the Show

Airbnb

Real Estate Rookie Youtube Channel

Simple Steps to Start, Scale, and Grow a Real Estate Business in 2023

The Rookie’s Guide to 2023 Goal Setting: How to Achieve HUGE Goals This Year

Books Mentioned in This Episode:

Rich Dad Poor Dadby Robert T. Kiyosaki

The Miracle Morningby Hal Elrod

The Compound Effectby Darren Hardy

Connect with Andrew:

Andrew's BiggerPockets Profile

Andrew's LinkedIn

Andrew's Instagram

Andrew's Facebook

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-267

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266: Rookie Reply: Unpermitted Renovations, House Hack Profits, and Frozen Pipes Mar 04, 2023

Show notes

If you live in a high-cost-of-living area, a house hack could solve many of your money-related problems. Sharing your living space isn’t always easy, but with a few simple tricks, you can make it more than worth your while. From subsidizing your cost of living to generating cash flow while you’re still staying at the property, house hacking has some almost unbelievable benefits that ANY investor can capitalize on. And Ashley and Tony have some great tips to share!

Welcome back to this week’s Rookie Reply! Whether you’re a homeowner, landlord, or both, you’ll want to hear our hosts’ tips for preventing frozen pipes and what to do when it happens anyway. We also explore unpermitted rental property renovations, the nuances of buying properties that are for sale by owner (FSBO properties), and when and why to use electronic keypad door locks. You’ll even learn how to find the lender on ANY property in the nation the next time you plan a creative real estate deal!

If you want Ashley and Tony to answer a real estate question, you can 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

Living for free, generating cash flow, and the HUGE benefit of house hacking

Why unpermitted renovations aren’t always deal breakers

Winterizing your rental or primary residence (and keeping your pipes safe!)

How a for sale by owner (FSBO) purchase differs from a regular realtor deal

The benefits and limitations of smart-home technology

How to find the lender of ANY property in your area

And So Much More!

Links from the Show

Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow

BiggerPockets instagram

BiggerPockets

BiggerPockets Bootcamps

Airbnb

RemoteLock

PropStream

Books Mentioned in this Show:

Real Estate Rookie: 90 Days to Your First Investmentby Ashley Kehr

The House Hacking Strategy by Craig Curelop

Connect with Ashley and Tony:

Ashley's BiggerPockets Profile

Tony's BiggerPockets Profile

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-266

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265: Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow w/Devana Came & Reid Stadelman Mar 01, 2023

Show notes

Investing in sober living facilities may not be the first thing that comes to mind when we talk about building a real estate portfolio. But if you knew how much they made, you might take a second look. We often focus on short-term rentals, long-term rentals, or fix-and-flip properties. But one of the best things about choosing real estate as an investment medium is its wide range and opportunities for creativity. People out there are house hacking, wholesaling, investing in mobile homes, and buying up parking lots. The options are truly endless.

So, where do we start? Sometimes, the best real estate investments are the ones that mean something more to us than cash flow. Devana Came and Reid Stadelman saw a gap in their community, and they filled it. They turned their real estate investment into a sober living facility to help people in recovery, and gave them a safe, structured place to stay while earning (mostly) passive income and building their investment portfolio.

In this episode, this husband and wife dynamic duo tells us all about their creative real estate investments that cash flow like nothing else. We talk about what a sober living facility is (hint: it’s not a rehab center), how and why they built theirs, how to find and screen tenants, and tips for reducing tenant turnover rates. These things don’t just apply to sober living facilities. Devana and Reid offer advice that applies to any real estate investment journey.

In This Episode We Cover

How to turn an investment property into a sober living facility

Finding and screening tenants

Easy ways to keep your turnover rate low

Managing an investment property with a waiting list

Choosing a property that fits your needs and investment goals

Investing for cash flow and your community

Resources for starting a sober living facility or domestic violence shelter

And So Much More!

Links from the Show

The National Alliance of Recovery Residences

House of Ruth

MLS

Connect with Devana and Reid:

Devana's Email: devana@thehappyhost.net or devana@thehouseofcourage.com

Devana's Instagram: devana@thehouseofcourage.com or @beeorganicmama

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-265

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264: Rookie Reply: Building vs. Buying and Avoiding Capital Gains on a Sale Feb 25, 2023

Show notes

Weighing the costs and benefits of building versus buying rental properties? You’re not alone! When property prices go up, it makes sense that most of us start looking for loopholes. But the cost is only one thing to consider when it comes to real estate investing. Thankfully, Ashley and Tony have some tips for deciding which way to go.

Welcome back to this week’s Rookie Reply! If you’ve ever considered building an investment property or buying a new construction, you’ll want to hear what our hosts have to say. We also touch on whether or not your attorney’s location matters when you’re investing out of state, and how to qualify for capital gains exemptions. Last but not least, we dig into the differences between W2 income and rental income when it comes to taxes, and why one is so much better than the other!

If you want Ashley and Tony to answer a real estate question, you can 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

When your attorney’s location might matter and investing from afar

Protecting yourself with partnership agreements in joint venture investing

The pros and cons of building an investment property instead of rehabbing one

How new construction properties can affect the refi seasoning period

Maximizing your taxes with passive income

Why moving every two years may be the smartest way to avoid taxes

Using a 1031 exchange to defer paying capital gains taxes

And So Much More!

Links from the Show

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

10 Income Streams on 1 Property by “Land Hacking” w/ Kai Andrew

Rookie Reply: Can You Put Offers on Multiple Houses?

How an “I Don’t Want to Invest” Couple Became Successful Long-Distance Landlords with Annie and Trey Johnson

Connect with Ashley and Tony:

Ashley's BiggerPockets Profile

Tony's BiggerPockets Profile

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-264

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

263: Rookie to Real Estate Investor: House Offer Accepted! Now What? Feb 22, 2023

Show notes

Offer accepted! Now what? As a rookie real estate investor, it can be anxiety-inducing to hear that a seller accepts your house offer. You’ve been working so hard to get up to this point, and now, you’re one step closer to closing on your first rental property. But what happens next? Are there steps that you should be following? And what should you be doing in the meantime as your closing date starts to creep closer and closer? If you’re in this situation (or are about to be), stick around!

We’re back with our “Rookie to Real Estate Investor in 90 Days” series, as our mentees join us for some exciting news. Last time around, much of the advice from Ashley and Tony was “make more offers!” Well, the mentees have delivered, so much so that one of our rookies already has a house under contract just a month or so after starting this series! We first talk to Melanie, who began submitting short-term rental offers in Savannah, Georgia. She’s got some solid takeaways but is having trouble finding someone who will accept seller financing.

Next, Brandon hops on as the first rookie to get a property under contract! With only a few offers sent out, Brandon has already agreed with a seller on terms but has questions about when to get a home inspection and whether title insurance is worth it. Finally, Lawrence joins us with a copy of Ashley’s newest book, Real Estate Rookie: 90 Days to Your First Investment. Lawrence has been making aggressive offers but couldn’t match a seller’s counteroffer with high-interest rate financing terms. All our rookies are inches away from getting their first (or next) rental property, and this could be the most pivotal point!

In This Episode We Cover

How to make an aggressive offer on a house and negotiating with a seller

Short-term rental data and how to use tools like AirDNA to find occupancy rates

What to do once you’re under contract for a new rental property

Home inspections and when it’s worth waiving one (plus when you DEFINITELY should get one done)

Title insurance vs. an attorney's opinion and which one is a better bet

Seller financing and how to find the perfect terms a seller will accept

How to target motivated sellers to find better real estate deals at lower prices

And So Much More!

Links from the Show

BiggerPockets Rental Property Calculator

Data.rabbu

PriceLabs

Brandon's BiggerPockets Profile

Connect with Brandon, Lawrence and Melanie:

Brandon's Instagram

Lawrence's BiggerPockets Profile

Lawrence's Instagram

Melanie's BiggerPockets Profile

Melanie's LinkedIn

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-263

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

262: How to SCALE Your Real Estate Portfolio in 2023 Feb 18, 2023

Show notes

You want to build a real estate portfolio, but you might not even own a single rental property yet! So how do you go from onlooker to investor and finally become financially free through real estate investing? Start with the end in mind! So many rookie real estate investors envision a dream life with cash-flowing rentals and little to no stress, only to realize the landlord life is a LOT different than social media makes it seem. To grow a passive real estate portfolio, you need to do something different. David Greene, host of the BiggerPockets Real Estate Podcast, knows exactly what that is.

David went from cop to top-producing real estate agent, investor, broker, and host of the world’s most recognized real estate investing podcast. He knows what it feels like to have a big portfolio and all the pain points that come with it. For the rookie investors, David wants to make sure you don’t make the same mistakes he did. Scaling your portfolio incorrectly could force you into yet another job, NOT the financial independence you’re looking for.

In his new book, SCALE: A Successful Agent’s Guide to Leveling Up Their Real Estate Business, David outlines EXACTLY what you must do to build a business, NOT a landlord nightmare. In this episode, he’ll give you everything you need to know about picking the right area and property, why appreciation often beats cash flow, knowing “the number” to offer, and how you can outsource your work to live the life you love!

Pre-Order SCALE now, and use code “SCALE262” for 10% off at checkout!

In This Episode We Cover

How David Greene went from stressed-out cop to financially-free investor

How to build a business, NOT a job that will take time out of your day

What to look for when researching an investing area and whether cash flow markets are worth it

Knowing the “efficiency” of a deal and how it can make you MUCH wealthier

The “long-term outlook” David uses when analyzing ANY real estate deal

How to use “leverage” to work less, earn more, and build a better business

Why buying the most real estate possible IS NOT a good option for investors

And So Much More!

Links from the Show

The Real Estate Rookie Podcast

BiggerPockets Bookstore

Bluehost

Dave Meyer's Instagram

GoBundance

GoDaddy

Monday.com

On the Market Podcast

The 2023 State of Real Estate Investing Report

Zillow

Connect with David:

David's BiggerPockets Profile

David's Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-262

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261: How Nancy Rodriguez from 'Love is Blind' Hit Financial Freedom BEFORE Fame Feb 15, 2023

Show notes

Most people would assume ‘Love is Blind’ star Nancy Rodriguez built most of her wealth after appearing on the show. But most people would be wrong. For the past seven years, Nancy has been quietly building a cash-flowing rental property portfolio, allowing her to become debt-free, go full-time into real estate, and build generational wealth for her family. She started her journey with 0% down loans, worked her way up to short-term rentals, and is now buying properties in cash across the great state of Texas.

Nancy grew up with limited financial education. Money wasn’t a topic that was often discussed but witnessing her parents work hard to obtain it taught her that wealth was worth attaining. After graduating from college, she was strapped with six figures in student debt, prompting her to become a debt-free Dave Ramsey disciple. But, as she paid off her debt, the fear of leverage fell away, allowing her to pick up property number one with a 0% down payment.

From there, she piled her money into properties, buying as many “ugly” homes as possible and turning them into worthwhile stays. She’s dealt with burnt interiors, squatters, and bad contractors, but nothing has stopped her from achieving the financial freedom she sought. Now in the limelight, Nancy is trying to help others do the same. So if you want to repeat Nancy’s system without going on reality TV, tune into this episode!

In This Episode We Cover

Paying off six figures of student debt and buying your first property with 0% down

The first-time homeowner program that requires no cash, no credit, and offers the BEST interest rates around

How to deal with squatters and a win-win solution that every landlord should try

Building your financial education and using side hustles to fund your property purchases

Short-term rental investing and using it to get high cash flow in today’s tough market

Buying rentals in cash and when it makes sense to decline debt

Generational wealth and using a small rental property portfolio to boost your family’s opportunities

And So Much More!

Links from the Show

Finance Friday: How to Start Investing After Becoming Debt-Free

Furnished Finder

NACA

Pace Morby's Instagram

Vrbo

Connect with Nancy:

Nancy's Instagram

Nancy's Tiktok

Nancy's Youtube Channel

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-261

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

260: Rookie Reply: When Can You Refinance and How to AVOID Taxes on a Home Sale w/Amanda Han Feb 11, 2023

Show notes

When can you refinance your home? How do you avoid taxes when selling a property? And is there a legal limit on when you can raise rent? Unfortunately, for most new investors, many of these questions don’t come with a straight answer. And when talking about taxes, even experienced investors like Ashley and Tony can’t give advice. So, we brought back Amanda Han, CPA and real estate investor, to provide us with the facts about tax benefits, trusts, and how to pay less when you sell a property.

But before that, Ashley and Tony will share their experiences on raising rent, seasoning periods when refinancing, and why you should always talk to a lender before you buy. Many of these topics, such as taxes, refinances, and raising rents, come with pitfalls that a beginner property investor WON’T know about. So stick around because this episode could save you a TON of trouble on your next purchase, refinance, or sale!

If you want Ashley and Tony to answer a real estate question, you can 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

When you can refinance your home and “seasoning periods” explained

When you’re legally allowed to raise rents and how to make adjustments to your lease

Passing down rental properties and how to do so without triggering significant tax events

Rent-to-own vs. seller financing and using these strategies to avoid taxes on a sale

The “lazy” 1031 exchange and how to offset your capital gains tax with paper losses

And So Much More!

Links from the Show

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

Amanda's BiggerPockets Profile

Airbnb

Connect with Amanda:

Amanda's Instagram

Amanda's Website

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-260

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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

259: No Down Payment? No Problem! Three Creative Financing Options to Consider w/Pooja Jindal Feb 08, 2023

Show notes

When you’re ready to invest in real estate but don’t have the money readily available, that can feel like a full-stop roadblock. But there are ways around your down payment doubt. With thoughtful market research and a bit of creativity when it comes to your financing, you can gain confidence and get started.

These are two of the key components of Pooja Jindal’s investing method. After her primary residence became a long-term rental property, she caught the bug and bought another property, and then another, and several more after that. Over the years, Pooja developed a system that helps her choose, evaluate, and invest with confidence and clarity.

In this episode, Pooja covers everything you need to know to stop stalling and start investing. She highlights the importance of building a community, different ways to do the money math, managing rental properties from a distance, staying motivated and setting investing goals, and getting creative when traditional financing isn’t enough. Whether you’re searching for your primary residence, a second home, or an investment property for short or long-term rentals, Pooja’s advice will help kick-start your real estate journey.

In This Episode We Cover

How data analysis can help you gain confidence and get started

The importance of building a community and learning about the process

When you may want to consider expenses before cash flow

How to get creative and come up with a down payment

Why Pooja prioritizes long-term, generational wealth over current passive income

Using property management software for tenant screenings, applications, and more

An app that can help with short-term rental data analysis

And So Much More!

Links from the Show