Real Estate Rookie

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Latest Episodes:

40: Using the “AREA” System to Buy 21 Houses in Just a Few Years with Anam and Aamir Dec 02, 2020

Show notes

Investor couple Anam and Aamir have been hard at work during COVID, locking down deals and BRRRR-ing more and more houses. Through years of system-building and deal mistakes/lessons, they were able to create a system that allows them to save time searching for deals and know immediately whether a property is worth the investment or not.

After pinpointing exactly what they wanted in a deal, Anam and Aamir took the time to develop systems and processes that would help them get properties rehabbed and rented faster.

So how did they finance these deals? HELOCs, credit cards, cash, hard money, and other creative financing.

This is what allowed them to build a portfolio of 21 units within a few years, all while working full time jobs that take up much of their waking hours.

With their deal criteria system (A.R.E.A), they’ve been able to turn their dreams into reality. Now at only 28 and 30, Anam and Aamir are on track to close more and more deals, securing their financial independence all while building appreciating wealth.

In This Episode We Cover:

How you can grow your rental portfolio, even during a pandemic
How to get your processes and systems down so they work for you
Using your partner’s strengths/weaknesses to inspire growth
How to use different creative financing strategies to get deals faster
How to find a hard money lender that works with your time-frame and ARV
What the A.R.E.A system is, and how it can help you find high-quality deals
The importance of running accurate comps in a desired area
Using your mistakes to make yourself into an educated investor
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/rookie40

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39: $500 Per Door on Multifamily Properties (During COVID!) with Thomas Tsitouridis Nov 25, 2020

Show notes

Thomas Tsitouridis is truly a jack of all trades. As a kid, he was used to helping on the project-management side of his parent’s 64-unit apartment building (taking out the trash, helping with tenants, and so on). He later realized that real estate investing would hold a special place in his future.

Thomas later worked for a construction manager, then chose to start his own construction business, property management business, and long term buy-and-hold business.

Using the experience and cash flow from his construction business, Thomas found that he could amplify his money by buying deals and using his own team to do the construction and rehab.

Now Thomas (and his partner) are buying multifamily deals, fixing them up, and getting sustainable cash flow, so they can retire early. Within his first year as a real estate investor, he has already learnt a lot. Thomas shares some great tips on tenant management, system automations, construction, and even financing so you can get better ROI earlier on!

In This Episode We Cover:

What to look for when partnering up with other investors
The importance of having a great broker on your team
Why you need to take action and lock down your first deal
How to facilitate a rent increase while having empathy for tenants
How to split responsibility between you and your partner
Why ARM loans are a great choice for the BRRRR strategy
Managing tenants while controlling your own emotions
Why you need to ask the stupid questions to be smarter later on
How to start automating everything in your real estate business
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/rookie39

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

38: Balancing a Career, Family, and Lots of Deals with Active Duty Service Member Adam Whitney Nov 18, 2020

Show notes

Feeling stretched for time in your investing career? Today we talk with Adam Whitney, an active duty military member, working full-time, with children, a wife, and an active investment portfolio!

With so much going on at once, Adam makes it look easy, juggling his hectic military life while accomplishing his long term goals.

Adam started learning about real estate over a decade ago, but didn’t dive in until 2017. Thanks to his “ruthless work ethic”, he’s been able to stack up his rental portfolio, make meaningful mentor connections, and join masterminds in only a few years!

Adam talks about getting 0% down loans, locking down long-distance real estate deals, doing thorough inspections when buying sight-unseen, and how to start relationships with mentors and real estate professionals you look up to.

With a healthy portfolio of rental properties spanning across the country, Adam is the perfect example of someone who found the time to accomplish his (and his family’s) dreams of financial independence!

In This Episode We Cover:

How to make time for investing with a career, family, and hectic schedule
The importance of goal-setting for you (and your partner)
Setting specific goals to silo your vision for a brighter future
Gaining the experience to get your 2nd, 3rd, or 4th deal (and beyond!)
Why you should start “aggressively networking”
How to reach out to your real estate heroes (and get responses)
Reading and making sense of a pro forma analysis
Optimizing your home inspection process (for less!)
How to tackle a joint venture (even if it’s your first)
How your “why” drives your deals forward
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/rookie38

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

37: New Co-host Tony J Robinson: Scaling with Short-Term Rentals Nov 11, 2020

Show notes

Big news: previous guest Tony J Robinson is back... he's now your new co-host alongside Ashley.

Today, you'll get reacquainted with Tony and learn how he rapidly expanded his portfolio this year. In fact, he went from owner of 2 houses when he appeared on the show in March... to closing on his 7th property (!) next month.

...How tho? Tony spells it out today: from finding new financing options in Louisiana (he lives in Southern California), to breaking into the short-term rental game in the Great Smoky Mountains of Tennessee and Joshua Tree, CA.

Plus: a next-level tip we haven't heard before: using a line of credit against your stock portfolio (rather than a property) to free up short-term cash.

We're excited to have Tony on board; get to know him in this episode, and we'll see you next week!

In This Episode We Cover:

Investing in short-term rentals in 2 locations 2,000 miles apart
Using 10% down vacation home loans to buy Airbnb's
Self-managing Airbnb's using automation and pricing software
Why short-term rentals fit Tony's personality and skill set
Getting his fiancé involved in his real estate investing business
Borrowing money against a stock portfolio
Taking the leap to buy a property "sight unseen"
His plan to buy a short-term rental every 3 months
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/rookie37

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

36.5: Programming Note: Show News Nov 06, 2020

Show notes

BiggerPockets Senior Producer Kevin Leahy shares some news about a change in the Real Estate Rookie host lineup.

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36: Gym Employee on the Path to $2k/Month and "Living for Free" with Gary Janica Nov 04, 2020

Show notes

Today's guest is Gary Janica, a Jacksonville, FL investor who loves his "stress-free job"... but realized he needed side hustle income to better support his family. Enter real estate investing!

Gary's portfolio is on the smaller side – he owns 2 duplexes – but he's been able to drastically change his financial picture by house hacking and extracting hidden value with "garage apartments."

If you share similar goals, check out this episode to get inspired and learn something new – and connect with Gary by leaving a comment on the show notes page.

Links from the Show

Check the full show notes here: http://biggerpockets.com/rookie36

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

35: Doubling Cashflow by Renting out Rooms with Pharmacist Ryan Chaw Oct 28, 2020

Show notes

From $25,000 purchase prices last week to $300,000+ group houses this week!

We head to the Bay Area today to meet pharmacist Ryan Chaw, who ventured about an hour away from his hometown and began buying 1 house per year and renting them by the room to college students.

Ryan collects nearly $11,000/month from 18 tenants, and is creating the kind of generational wealth his grandfather used to put both him and a sibling through college.

Does renting to college kids sound like a disaster waiting to happen? Well... Ryan has found several ways around this, and in this episode he outlines the checklists, systems, and "personal touches" he uses to self-manage without the headaches.

Ryan opens up about an early failure, too. He wasn't getting all his rooms filled, and he realized he wasn't doing a good enough job advertising. So he developed step-by-step, "P.R.I.M.E." marketing method to attract a steady stream of qualified applicants... and you'll learn each step today.

If you're struggling how to figure out just how to create cashflow in a spendy market, follow Ryan's lead! Get creative, consider rent-by-the-room and other outside-the-box strategies, and reap the rewards of greater appreciation and stability that come with high-priced areas.

In This Episode We Cover:

How Ryan is succeeding in one of the most expensive markets in the country, the Bay Area
Using his job as a pharmacist to get conventional financing
Creating generational wealth through real estate
How he saved up to buy 1 property per year, 4 years in a row
Why he rents his houses to college students
The systems he uses to manage 18 tenants and avoiding roommate drama
Unlocking hidden value and boosting rental income by adding bedrooms
Lessons learned from a difficult tenant who smoked weed and played loud music
Why "buy then wait" beats "wait then buy"
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/rookie35

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34: School Teacher Making $72,000 a Year in Cashflow with Amy Barber Oct 21, 2020

Show notes

What do you get when you combine Dave Ramsey-style frugality with aggressive deal-finding tactics? You get teacher Amy Barber and her fiancé, Jay – and their $6,000 monthly cashflow in rural Iowa.

In this episode, Amy shares her strategies for buying foreclosed ranch houses in cash, cleaning them up, then refinancing so she can repeat the process again and again.

Think no one's doing deals during the pandemic? Well, she's bought 4 houses in the past 4 months, and plans to keep going until she's making enough to comfortably leave her W-2 job.

If you're looking for guidance on how to build the financial foundation so you can invest in real estate from a position of strength, Amy's story will fire you up and get you ready to take that most important next step toward "getting rich slowly" just like her.

By the way, Amy came to our attention through the Real Estate Rookie Facebook group. If you find other awesome investors who would make a great fit for the show, tag us or send them to biggerpockets.com/guest so they can apply.

In This Episode We Cover:

How Amy got started as an "accidental landlord" during the Great Recession
Buying 4 properties in the last 4 months
Finding deals through her fiancé's job in foreclosure preservation
How they bought a foreclosed house and created $50k in equity
Taking Dave Ramsey's course to get her finances under control
Delaying gratification and making sacrifices to create enough cashflow to quit her W-2 job
Working 2 jobs and doing real estate on the side
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/rookie34

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

33: A Marine (and his Mentor) Buy a BRRRR: Step-by-Step with Joe Roberts and Steve Rozenberg Oct 14, 2020

Show notes

Today we bring you another mentor/mentee conversation, where Joe Roberts shares his experience working alongside Steve Rozenberg to buy his first long-distance investment property.

Joe is a U.S. Marine helicopter pilot who regularly deploys to combat zones, so efficient systems are a must for him. Steve, a commercial airline pilot and experienced investor, loves designing standard operating procedures. Perfect fit!

The two got paired up when Joe won Mynd Property Management's $20,000 mentorship contest, and today they reveal how Joe found the perfect market, neighborhood, and property for his first BRRRR.

You'll love hearing how Joe and Steve developed their strategy based on Joe's goals for appreciation, equity, and cashflow; how he analyzed the numbers in several markets before settling on Atlanta; how he documented his process to he can repeat the process over and over again (even while deployed)... and why he'd rather hire property management than deal with tenants himself.

This show gives you a peek into a real-world mentorship and breaks down the mistakes and lessons learned along the way. Let us know what you think of this episode in the comments at biggerpockets.com/rookie33, and we'll see you next week!

In This Episode We Cover:

How Joe got started in real estate while serving as a Marine helicopter pilot
Why Steve chose Joe as the winner of the $20,000 Mynd mentorship contest
Why Steve and Joe chose to buy a long-distance deal in Atlanta, GA
How they crunched the numbers once they chose a market
Why they pulled out of two deals after bad inspections
Getting aligned with your spouse or partner regarding your real estate goals
Using BiggerPockets' market-specific sub-forums to find an agent
Time management strategies for busy people (you!)
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/rookie33

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

32: Debt Free with 2 Rentals and Counting with 24-Year-Old ICU Nurse Prescott Williams Oct 07, 2020

Show notes

Frontline healthcare worker... Air Force Reservist... real estate investor!

24-year-old Prescott Williams is a renaissance man committed to building real wealth through real estate while serving his community and his country. Today he walks us through his first 2 deals, and the 3 deals he's currently working on in the Hattiesburg, Mississippi area.

Prescott shares some great shortcuts for investors who work full-time – from creating a "rental requirement list" with your personalized criteria to publicly posting your real estate goals (you never know who will send you a lead!).

A lot of our guests choose their real estate agent as their MVP, but for Prescott it's his mortgage lender. You'll learn how he finances his rehabs and new construction deals by partnering with a small local bank – a strategy you can model (if you're willing to put in a little legwork!)

Give Prescott a follow on Instagram @prescott_williams -- and follow us by joining our Real Estate Rookie Facebook Group: just search "Real Estate Rookie" and answer the screening questions to join 15,000 other like-minded investors.

In This Episode We Cover:

Prescott's strategy for graduating college debt-free
Finding a flexible local "portfolio" lender
Persuading his parents to take out a HELOC to help him get started in real estate investing
Sleeping on an air mattress while renovating a house
His "rental requirement list" criteria
How he uses the "1% rule" (rent = 1% of purchase price) to guide his purchasing decisions
The stress-free way to handle maintenance calls
How he's gotten deals just be posting his goals on social media
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/rookie32

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

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