Real Estate Rookie

Over $100,000 from medium-term rentals…in just 18 months?! It’s a pipe dream to many, but it’s reality for today’s guest. After connecting with a few colleagues about real estate investing, David Rosenbeck left his established career as a nurse practitioner to dive headfirst into the investing world—carving out a niche that married his former job with his newfound passion: medium-term rentals for traveling nurses. David and his wife bought their first rental property, and within 24 hours of going live, it had booked nine months out. The rest is history. David has since replaced his six-figure income with this flexible job that allows him to work fewer hours, stress less, and build the dream lifestyle for him and his family. If you’re afraid that short-term rental properties are difficult to manage or that long-term properties don’t generate enough monthly income, this is the episode for you. David shares all of the secrets that helped him earn over $100,000 in only 18 months from medium-term rentals. He touches on pitching Airbnb arbitrage to landlords, moving every 12 months to build your real estate portfolio faster, and finding the “misfit” properties that make the PERFECT rentals! In This Episode We Cover The advantages of medium-term over short-term and long-term rentals How to find the best areas to invest in medium-term rental properties Profiting without owning a property and using Airbnb arbitrage when renting to traveling nurses Moving every 12 months to get a lower down payment on new properties Finding the “misfit” properties that make the BEST medium-term rentals The best places to find medium-term tenants for your rental properties And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA BiggerPockets BiggerPockets Calculators Facebook Group Furnished Finder MLS PriceLabs Real Estate Rookie Facebook Group Real Estate Rookie Podcast Real Estate Rookie Youtube Channel The Real Estate Podcast Vrbo Will Your Area Work for Medium-Term Rentals? Zillow Connect with David: David's BiggerPockets Profile David's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-273 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

While driving for dollars, you stumble across a property with back taxes on it. What do you do? Contact the owner about your interest? Check with the courthouse first? Of course, you don’t want to make a real estate faux pas and miss out on a great deal! Fortunately, Ashley and Tony are here to help you navigate the situation. Welcome back to another Rookie Reply! Today, we’re addressing properties with tax liens and how to potentially get them below market value. We also talk about buying property as a real estate agent and putting your commission towards a down payment. If home renovations are on your radar, you’ll want to tune in to our discussion on estimating rehab costs and pulling permits. Lastly, you’ll learn about tax strategies for flippers, and why hiring a tax planner is a must, even if you’ve yet to buy your first property! 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 Buying a property with back taxes on it and where to find tax lien properties How to get paid TWICE by wholesaling a property to yourself Estimating material and labor costs before you commit to a renovation The best tax strategies for flippers (and why you need a tax planner!) Whether you can work closing costs into an FHA loan and low/no down payment loan options Why pulling permits is a MUST if you plan on doing a rehab, renovation, or house flip And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Join BiggerPockets for FREE A Step-by-Step Guide to Estimating Rehab Costs w/ Master Flipper & Investor James Dainard (Part 1) Finding Contractors, Renovation Red Flags, and Estimating Rehab Costs (Part 2) w/ James Dainard BiggerPockets Forums How to Legally Avoid Taxes by Investing in Real Estate From Restaurant Waiter to 100+ Deals in Only 4 Years w/ Derrick Acuff Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow Propstream Zillow Book Mentioned in This Episode: The Book on Estimating Rehab Costs by J Scott Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-272 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

$900K in real estate at age 17!? That can’t be possible! If you’re feeling shocked, join the club because today’s episode is something that’ll leave you more fired up than ever before. We talk to Ava Yuergens, a high schooler who’s purchased more real estate than most full-grown adults. Without the ability to even get a credit card of her own, Ava has taken down almost a million dollars in real estate, all thanks to creative financing, hard work, and a determination to build wealth no matter what. Want to repeat her road to success? Stick around! Like most young entrepreneurs, Ava caught the cash flow bug after reading Robert Kiyosaki’s Rich Dad Poor Dad. This classic book opened her eyes to the world of income-producing assets, catapulting her toward the topic of real estate investing. She was up early before school, reading how to invest, where to find off-market deals, and how to finance a property when you have no full-time income. With some thoughtful planning and serious due diligence, Ava was able to close on not one but two rental properties before graduating high school. And whether you’re fifteen, twenty-five, or fifty, Ava’s advice is useful for ANY real estate investor in ANY stage of life. She walks through exactly how to find your first real estate deal, getting comfortable with an investing strategy, bringing in partners and funding (when you don’t have the cash), and turning your small side hustles into massive streams of income. With this type of mindset, we know we’ll be hearing back from Ava very soon. In This Episode We Cover How to invest in real estate at a young age with no job or credit Ava’s step-by-step checklist for getting your first real estate deal Serious side hustles and using part-time work to fund future real estate deals Real estate partnerships and how to split responsibilities when buying a property How to find off-market deals, cold-calling, direct mail, and getting properties at a discount Short-term rental investing and why most rookies choose self-management over third-party property management And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb BiggerPockets MLS Real Estate Rookie Facebook Group Alpha Geek Capital BiggerPockets Calculators Google Drive Guesty Robuilt Youtube Channel The Real Estate Podcast Vrbo Check Out Tony’s Messaging Guide for Short-Term Rentals 18 Deals in 2 Years AND a Full Time Job with Kevin Christensen Books Mentioned in This Episode: Rich Dad Poor Dad by Robert T. Kiyosaki Short-Term Rental, Long-Term Wealth by Avery Carl Traction by Gino Wickman Connect with Ava:: Ava's BiggerPockets Profile Ava's Instagram Ava's Tiktok Ava's Youtube Channel Check the full show notes here: https://www.biggerpockets.com/blog/rookie-271 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t have enough capital to own property? Enter Airbnb arbitrage, the popular investment strategy that allows you to rent out someone else’s property for a profit. Of course, there are a few challenges that come with this. Namely, you’ll need to convince your landlord that it’s a good idea! As always, Ashley and Tony are back with some important tips. In today’s episode of Rookie Reply, we’re breaking down Airbnb arbitrage, and weighing the pros and cons on both sides of the arrangement. We also touch on the best liability protection strategies, using a HELOC for a down payment, and when it might be advantageous to buy a turnkey property versus a distressed property. Finally, we tackle the subject of tax planning and how hiring a CPA could help you save a fortune come tax season! 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 How to get into real estate without owning property Why a landlord would agree to Airbnb arbitrage (and how to convince them) The MASSIVE tax savings of hiring a CPA for tax planning Using a HELOC for a down payment on a long-term rental property When it makes sense to purchase a turnkey property versus a distressed property LLCs, umbrella insurance policies, and the best strategies to protect yourself from liability And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast Airbnb BiggerPockets Rental Property Calculator How to (Legally) Avoid Taxes by Investing in Real Estate Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself Growing Your Portfolio with Turnkey Investing with Whitney Hutten and Lance Robinson It’s Not All About Cash Flow: 4 Ways Real Estate Makes You Rich Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert MLS The Real Estate Podcast TurboTax Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-270 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t know what to do AFTER closing on a house? You’ve found your market, done your due diligence, passed your inspections, and now you’re asking, “what’s next?” Two of our three mentees are about to close on their first (and next) rental properties, but they don’t have to go in blind, thanks to the expert guidance of experienced investors Ashley and Tony. But we’re not just talking about a post-closing checklist. Instead, we’ll get into the nitty-gritty of getting a new short-term rental, how to handle inherited tenants, when to switch your investing strategy, and what happens when you discover a BIG plumbing problem in a property. We’re back to conclude our final meeting with our ninety-day mentees. Brandon, Lawrence, and Melanie have made MASSIVE strides to become real estate investors. Brandon and Melanie come back with deals under contract and close to closing, while Lawrence is looking to switch up strategies and potentially re-enter the cash-flowing world of college rentals. All the mentees have taken significant steps to success in just three months, and you can do it too! Stick around if you’re trying to get your next rental property under contract, as Brandon, Lawrence, and Melanie discuss why having community, accountability, and pressure for success took their investing to the NEXT LEVEL. If you want to break through your biggest goals, sign up for BiggerPockets Pro today and join our next Real Estate Rookie Bootcamp! In This Episode We Cover Investing in short-term rentals and how to set your house rules for new guests Out-of-state investing and closing on a rental property remotely Home inspections and why they’re almost ALWAYS worth the cost Inherited tenants, estoppel agreements, and what to do as soon as you buy a rental with tenants Delayed maintenance and what happens when you uncover pricey plumbing problems in a property Student rentals and using them to make more cash flow than a regular rental property Accountability, community, and why investing together can help you build wealth faster And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Apartments.com Avail BiggerPockets BiggerPockets Bootcam The BiggerPockets Money Podcast BiggerPockets Pro Hostfully MLS On the Market Podcast Real Estate Rookie Facebook Group Real Estate Rookie Podcast PriceLabs RentRedi Tony’s Short-Term Rental Shopping List Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers Rookie to Real Estate Investor: House Offer Accepted! Now What? Connect with Brandon, Lawrence and Melanie: Brandon's BiggerPockets Profile 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-269 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Does seller financing apply to down payments? What happens when you buy a rental with squatters who refuse to leave? And is getting your real estate license even worth it? The world of real estate investing isn’t always as cut and dried as it seems, but running a profitable portfolio doesn’t need to be a massive headache. In this Rookie Reply episode, we’ll go through the common pain points that rookie landlords are dealing with and shed light on some frequently asked questions only experienced investors (like Ashley and Tony) have the knowledge to answer. If you’ve ever wondered what a property survey is or if you should charge a cleaning fee to your tenants, stick around! This time, Ashley and Tony will answer when you do (and don’t) need a property survey on your latest rental property purchase. From there, they debate the pros and cons of getting your real estate license (becoming an agent) as a rookie investor. We also touch on the ever-fun topic of what to do when non-leased tenants won’t leave your property, how to seller finance a down payment, and whether or not charging a “cleaning fee” at move-in is a wise idea. 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 Is getting your real estate license worth it, and the ongoing cost of becoming an agent Property surveys explained and why knowing your rental’s boundaries can be crucial Inherited tenants, squatters, and how to evict tenants who don’t have a lease Seller financing a down payment and how to close on your property with $0 out of pocket Cleaning fees, inspection checklists, and everything your tenants need to keep your property in perfect shape And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast Airstream Real Estate Rookie Youtube Channel LandGlide OnX Hunt MLS Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-268 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

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 How to manage your rentals while working a full-time job 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 Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group Real Estate Rookie Podcast The Real Estate Podcast MLS BiggerPockets apartments.com BiggerPockets Forums 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 Dad by Robert T. Kiyosaki The Miracle Morning by Hal Elrod The Compound Effect by 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 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

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 Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast 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 Investment by Ashley Kehr The House Hacking Strategy by Craig Curelop Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-266 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

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 Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA Real Estate Rookie Facebook Group Real Estate Rookie Podcast The Real Estate Podcast The National Alliance of Recovery Residences House of Ruth MLS Connect with Devana and Reid: Devana's Email: [email protected] or [email protected] Devana's Instagram: [email protected] or @beeorganicmama Check the full show notes here: https://www.biggerpockets.com/blog/rookie-265 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

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 Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast 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 Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram 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

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 Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA BiggerPockets Rental Property Calculator Data.rabbu PriceLabs Real Estate Rookie Facebook Group Real Estate Rookie Podcast Connect with Brandon, Lawrence and Melanie: Brandon's BiggerPockets Profile 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

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 Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Bankrate BiggerPockets BiggerPockets Bookstore Bluehost Dave Meyer's Instagram GoBundance GoDaddy Monday.com On the Market Podcast The Real Estate Rookie 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 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

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 Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb BiggerPockets Expensify Finance Friday: How to Start Investing After Becoming Debt-Free Furnished Finder NACA Pace Morby's Instagram Real Estate Rookie Facebook Group The Real Estate Podcast 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

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 Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group How to (Legally) Avoid Taxes by Investing in Real Estate The Real Estate Podcast Airbnb Connect with Amanda: Amanda's BiggerPockets Profile 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

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 Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram AirDNA Avail BiggerPockets MLS On The Market Podcast Real Estate Rookie Facebook Group Redfin Seeing Greene: How to Get Around High Down Payment Requirements The Real Estate Rookie Podcast The Real Estate Podcast Trulia Zillow Connect with Pooja: Pooja's BiggerPockets Profile Pooja's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-259 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

You stumble across the perfect rental property, but you don’t know who owns it. So what do you do? Walk up the door and present an offer? Ask the neighbors? Or, is there a better way to do some sneaky searching that could land you the perfect off-market real estate deal? The rookies want to know, and on this Rookie Reply, we’ll get into EXACTLY how to do this, even if you’re starting without much money! We’re back for one of our last live Rookie Reply episodes! This time, we’re touching on questions about finding off-market property information, what to include in your direct mail letters, and why a home wouldn’t qualify for a mortgage. We’ll also hit on commonly asked title questions and whether or not you can buy real estate while underwater on another mortgage. So, if you’re trying to get your next deal off-market, this is the perfect episode to listen to a few times through! 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 How to find property owner information for free and skip tracing services to try Why you should NEVER put your offer on a direct mail letter Why a home won’t qualify for a mortgage and what to do if you can’t get funding Title insurance and whether or not it’s really necessary when buying a rental property Why you ALWAYS need a property inspection when purchasing a new home Underwater mortgages and whether or not you can buy property if you have one And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets BiggerPockets Pro Real Estate Rookie Facebook Group BiggerPockets Forums BiggerPockets Events Invelo PropStream Whitepages Bret Daniels' Youtube Channel Max Maxwell's Youtube Channel Nate Robbins' Instagram Connect with Ashley and Tony: Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-258 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

The “Rookie to Real Estate Investor in 90 Days” series is back, and we’re checking in with three mentees as they go from newbies to high-net-worth through real estate! Our mentees have been busy over the past couple of weeks, so Ashley and Tony dropped in on them to see how their rental property progress was going. They touch on how to make a lowball offer, pushing past the fear of getting an offer accepted, where to find motivated sellers, short-term rental markets, and seller financing Q&As. First up, Brandon joins us as the newest real estate rookie on the show. He’s yet to get his first deal done and is still looking to buy a property, but he’s finding that the price isn’t matching his profits. Ashley and Tony walk Brandon through how to make a lowball offer and why you should always submit a price that works for your numbers. Next, Lawrence shares how he’s been on the hunt for a seller-financed deal and is looking into new ways to find motivated sellers more likely to sell at a discount or with flexible terms. Finally, we hear from Melanie, who had a bit of property panic as she searched for more short-term rental markets to add to her list. After some research, she’s settled on a solid one and is currently looking for properties to make offers on. Her only question is how and why she should go for seller financing. Ashley and Tony give her all the details you’d need before going into a direct deal with the seller. In This Episode We Cover How to make a lowball offer and why your price point should always reflect your profits What to do when two offers get accepted (and how to fund both deals) Seller financing 101 and why (and why not) it’s worth pursuing for an investor How to find motivated sellers in your market by looking through the MLS Why you should ALWAYS send in offers (even if they seem unrealistic) Short-term rental markets and how to measure lead time when looking for deals Promissory notes, how they work, and risks/benefits of signing one with a seller And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA BiggerPockets Calculator BiggerPockets Forums Google Drive LandWatch MLS PropStream PriceLabs Rabbu Real Estate Rookie Facebook Group Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls Zillow Connect with Brandon, Lawrence and Melanie: Brandon's BiggerPockets Profile 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-257 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

Escaping the rat race at 26 isn’t easy, but Isaac Lane, Arizona-based investor and rookie landlord, is doing it through out-of-state investing! Isaac started investing only a couple of years ago, but he’s been scaling quickly as he purchased five rentals in his first year of investing alone. Now, he balances his time between working his day job as an engineer for a commercial real estate firm and managing his properties that are multiple states away! Welcome back to another Rookie Reply, where Isaac is helping us answer some common property management questions. He gives advice on how to start investing out of state and where to begin building your real estate team. And for those who still haven’t done their first deal yet, Isaac talks about property management, maintenance requests, inherited tenants, smart devices, landlord insurance, and why you ALWAYS change your locks during a tenant turnover. 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 How to start escaping the rat race through real estate investing (even at a young age) Long-distance real estate investing and the team you need to succeed from afar How property managers handle maintenance and why you should ask for pictures on every repair What to do when you inherit tenants and whether or not they should re-apply for your rental Landlord vs. homeowners insurance and why tenants should always have a renter’s policy When to change locks on a unit and the big key-code mistake Tony made on his short-term rental And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets Pro Real Estate Rookie Facebook Group BiggerPockets Bootcamps BiggerPockets Forums RentRedi Builduim Appfolio LandlordLocks Connect with Isaac: Isaac's BiggerPockets Profile Isaac's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-256 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

Everyone wants to know how the rich avoid taxes. You hear about it on the news, “billionaire pays zero dollars in taxes this year,” or “this real estate tycoon made millions but gets a tax refund!” This can seem like blatant tax abuse for those not in the investing game. Why do some people get to pay no taxes while others are stuck with a sky-high return just for working their W2 job? The answer lies in the assets you invest in. Real estate investing is one of the most tax-advantaged assets around. As a real estate investor, you can almost automatically count on lower income taxes while making more money. Don’t believe us? We brought Amanda Han, CPA to top investors, on the show to explain how investors avoid taxes while still striking it rich in real estate. Amanda understands the ins and outs of the tax code, and as a real estate investor, she benefits from knowing real estate write-offs and deductions better than the rest! On today’s show, Amanda will walk through the top real estate tax deductions and how rookie real estate investors can start paying less in taxes. She’ll also explain real estate professional status (REPS) and using it to lower your taxable income and how to find the perfect tax advisor for you and your properties. If you want to start using the same strategies that the wealthy use to avoid taxes, this is the episode to tune into! In This Episode We Cover The biggest real estate tax deductions and some that many investors often miss Depreciation explained and how this paper loss can help you keep your passive income The best tax strategies for investors trying to minimize their taxable W2 income How to find the right tax advisor and what they MUST know about real estate Tracking expenses and making it easy on yourself during tax time LLCs for rental properties and whether you even need one in the first place And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets Pro Real Estate Rookie Facebook Group Stessa Quickbooks BiggerPockets Bookstore REPStracker Google Sheets MileIQ Zapier Connect with Amanda: Amanda's BiggerPockets Profile Amanda's Instagram Amanda's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-255 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

Need to know whether flipping vs. renting makes more sense for your market? Don’t know if you can put offers on multiple houses simultaneously? Itching to hear how your flipping profits will affect your financeability on your next property? We’ve got time-tested real estate experts here to help you out! As always, Ashley and Tony are here to host this week’s Rookie Reply, but we’re also joined by Jake Kain, Arizona investor and agent who left the W2 life to start building a rental property and live in flip empire! Jake lends a helping hand in answering this week’s questions but also shares his own story about following your fire, starting a community, and how to become the “quarterback” of any real estate meetup. He’s expanded his network at lightning speed, allowing him to grow his portfolio to five units, all while flipping his own primary residences along the way. Jake helps answer questions about making offers on multiple houses, flipping vs. renting, how your DTI (debt-to-income ratio) could be impacted when house flipping, and where to find general contractors who will show up on time! 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 Starting your own real estate meetup and how it makes you the most popular person in the room Leaving your nine-to-five to invest in real estate and becoming a real estate agent Debt-to-income ratios and whether or not selling a fixer-upper could help or hurt yours The art of making offers on multiple houses and what to do if they all accept Flipping vs. renting and why different real estate markets require different strategies How to find contractors for home renovations and why the quickest workers are rarely the best And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Facebook Group BiggerPockets Forums BiggerPockets Bootcamp Alpha Geek Capital Facebook Groups Connect with Jake: Jake's BiggerPockets Profile Jake's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-254 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

Personal finance is what most twenty-something-year-olds overlook. Why invest, save, or cut back spending when you finally have the money that a college degree or diploma promised you? For those who have just started working, spending all your hard-earned money on a bigger apartment, a nicer car, or a luxurious trip can be enticing. But, you could also be using your paychecks to multiply your wealth, set yourself up for financial freedom, and lock in early retirement while most are focused on barely paying their bills. This personal finance-first attitude is what Malia Gudenkauf adopted early on. After attending basic personal finance classes, she realized the disservice many young people did to themselves. So, Malia started developing financial literacy skills, from focusing on becoming debt-free to later investing in passive income streams like real estate. Thankfully, her sister, Grace (you can hear her episode here), was just starting as a landlord and needed a partner she later found in Malia. In this episode, Malia details everything you want to know to get your finances in order, how to avoid getting caught in analysis paralysis, reverse engineering your income goals when buying a rental property, and advice on how and who to form partnerships with. Whether in high school, college, the working world, or close to traditional retirement age, the advice Malia gives is crucial if you want to start your real estate investing journey. In This Episode We Cover Building a solid financial foundation and the basic personal finance steps anyone can follow How to “reverse engineer” your goals and buy the properties that fit them best Small multifamily investing and how to purchase multiple doors at once Real estate partnerships and tips for finding a partner who will help you grow without causing your headaches Real estate vs. stocks and why the passivity of rental properties is often overstated Defeating analysis paralysis and how leveraging partnerships gets you past rental property roadblocks And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets Calculator BiggerPockets Pro Real Estate Rookie Facebook Group Real Estate Rookie Podcast Real Estate Rookie Youtube Channel The BiggerPockets Money Podcast BiggerPockets Forums Using Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace Gudenkauf Semi-Retired at 30 Thanks to One Year’s Worth of Real Estate Investing Connect with Malia: Malia's BiggerPockets Profile Malia's Instagram Malia's Tiktok Malia's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-253 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

Buying your first rental property doesn’t need to be complicated. With some simple steps, you can go from onlooker to real estate investor, collecting passive cash flow every month! But you’ll never get going if you don’t know where to start. So to make 2023 your best year yet, David Greene, investor, agent, and host of the BiggerPockets Real Estate Podcast, sat down to walk through the eleven steps it takes to go from rookie to real estate investor. Real estate is NOT a “get rich quick” type of investment, but it can help you build wealth in a surprisingly short amount of time. Just ask David, who spent years working overtime as a cop, slowly building up a real estate portfolio that eventually led him to financial freedom before most people buy their first house! In this episode, David will walk step-by-step through everything a real estate rookie must do to get their first rental property, how to analyze real estate deals once you find them, and how to repeat the system so your passive income stack grows bigger every year! Ready to become a real estate investing expert in 2023? Sign up for BiggerPockets Pro, where you can access real estate tools and calculators, rookie bootcamps, lease agreement packages for all fifty states, unlimited webinar replays, and exclusive videos. Start 2023 off right, and use code “NEWYEAR” at checkout for a special discount! In This Episode We Cover How to buy your first rental property in 2023! How David went from almost giving up to financial freedom in only a few years How to analyze a real estate deal in minutes The eleven steps to success when starting in real estate investing How to find real estate deals in ANY market using the LAPS funnel Why so many people fall short of their new year’s resolutions and how you can succeed in 2023 Using BiggerPockets Pro to get your first real estate deal even faster! And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets BiggerPockets Forums BPCon 2023 BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Instagram BiggerPockets Rent Estimator BiggerPockets Rental Property Calculator BiggerPockets Podcast Shop BiggerPockets Pro BiggerPockets Pro-Exclusive Videos Real Estate Rookie Facebook Group Real Estate Rookie Youtube Channel Connect with David: David's BiggerPockets Profile David's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-bonus 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

Tenant not paying rent? Debating whether a year-long, six-month, or month-to-month lease is best? Don’t know how to estimate rent for a new unit? On this week’s Rookie Reply, we’re tackling some of the most troublesome yet common questions that rookie real estate investors have. We’ll be going deep into property management, tenant screening, and what to do when a tenant stops paying. So fret not when investing; there’s always a way to make a win-win! This time around, we’re joined by Alexandra Burnham, live for Phoenix! Alexandra is like many real estate investors, except for one big difference. Alexandra and her partner share over $750,000 of student debt! Talk about a hole in your pocket! But, instead of letting the naysayers convince her that she can’t invest with her debt, Alexandra has flipped the situation on its head, buying five rental properties and tackling her debt faster thanks to multiple income streams. Stick around for her full story and the phenomenal advice she gives to get your property locked up and leased! 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 Paying off massive student loans thanks to real estate investing What to do when a tenant stops paying rent (and the options you have) Whether or not to lower your rent price when a unit is sitting vacant Why even high-earners MUST have a side-income stream to stop constant burnout Six-month vs. month-to-month leases and why flexibility can be favorable for landlords What is a healthy ROI (return on investment) for a short-term rental property? And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Facebook Group The Real Estate Podcast BiggerPockets Forums BiggerPockets Rent Estimator BiggerPockets Lease Agreement Packages Connect with Alexandra: Alexandra's Instagram Alexandra's Facebook Check the full show notes here: https://www.biggerpockets.com/blog/rookie-252 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

Becoming a real estate investor isn’t complex. Find a property, buy the property, and rent it out. While this formula may be easy to write down, putting it into practice is much more complicated. This is why many wannabe investors never make the jump to buy their first investment property. But, with the right advice, mentorship, and mindset, anyone can become a passive-income generating real estate investor, with a path laid for financial freedom and early retirement. Today, Ashley and Tony combine their real estate knowledge to help three investors buy their first or next rental property. First, we talk to Brandon, a future house hacker who struggled to buy a home last year and is now looking for his first primary residence that can help subsidize his mortgage. Next, we speak with Lawrence, an investor who bought two rental properties within six months but wants to expand quicker with the help of creative financing. Finally, Melanie joins us to discuss her plans for a short-term rental property, but she still doesn’t know the best place to buy. If you’re finding the 2023 housing market a tough nut to crack but know that you want to invest in real estate, this is the episode for you. We’ll follow along with our three mentees over the next ninety days as Ashley and Tony give strategic advice on what they should do next to get a profitable rental property under contract. So follow along, and you too could get your next property in ninety days (or less!). In This Episode We Cover High interest rates and how more expensive mortgages have caused many investors to pause Building your “buy box” and how to come up with your exact rental property criteria Creative financing and how to buy a bigger rental property even if you don’t have the money for it Generational wealth and using real estate investing to put your family in a better position Short-term rental markets and how to analyze a vacation rental from afar What to do when inflated rental property data isn’t adding up to today’s rates Finding financial freedom and leaving your W2 desk job behind And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb AirDNA BiggerPockets Calculator BiggerPockets Forums BiggerPockets Pro Invelo MLS Real Estate Rookie Facebook Group Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials Creative Financing: 2022’s Antidote to High Interest Rates 300 Doors, 100% Creative Financing with Pace Morby Connect with Brandon, Lawrence and Melanie: Brandon's BiggerPockets Profile 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-251 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

The real estate market is changing, especially in high-appreciation cities like Phoenix, Arizona. This week, Ashley and Tony made the journey to the Valley of the Sun to visit real estate rookies for a live podcast recording. But it wasn’t just the rookies coming out; expert investors like Jamil Damji and Pace Morby also swung around to answer questions about creative financing, the 2023 housing market, multifamily investing, and more. They give some killer insight that only off-market masters know, and their input could help you score better deals over the next year. As always with a Rookie Reply, we also take questions from the Real Estate Rookie Facebook group, the Rookie Request Line, and Instagram to see what’s on investors’ minds. This time, we’ve got questions on how real estate wholesaling works, the best way to reject an agent or lender (without burning bridges), the true cost of owning a rental property, and the risks and rewards of using a dual real estate agent. This episode comes packed with rental property gold, so stick around! 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 Creative financing strategies in 2023 and how investors are starting to take advantage How to find a real estate investing partner that will grow your business faster The safest way to invest in multifamily real estate (without using your own money) The best place to find real estate and housing market data (check out On the Market) Costs that go into owning a rental property and what many rookies overlook The dangers and benefits of using a dual agent on your next real estate deal How real estate wholesaling works and the two ways to close a wholesale deal And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Facebook Group Airbnb Dave Meyer's Instagram BiggerPockets Rental Property Calculator On The Market Podcast 5 Tools To Unlock Your “Ideal Life” w/ “Traction” Author Gino Wickman LandWatch Privy Zillow Crexi Connect with Pace & Jamil: Jamil's BiggerPockets Profile Pace's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-250 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

You want to start a real estate business. The cash flow is calling, and whether you’re looking to build passive income, escape the nine-to-five grind, or set yourself up for early retirement, rental property investing is a smart move to make. But, most real estate investors get it all wrong when building their rental property portfolios. They focus on scaling as fast as possible without building the systems to support a thriving business, leaving them burnt out and tired of the real estate game within only a few years. Successful real estate investors like Ashley and Tony know that the key to building an unstoppable, profitable, and enjoyable real estate business is simple. To scale, you need to track, budget, outsource, and minimize the time it takes you to bring home the same amount of bacon every day. Of course, this is easier said than done, and many investors go through a lengthy process of trial and error to get there. But you don’t have to. On today’s show, Ashley will walk through the exact things you need to start, scale, and grow a real estate business. You’ll learn how to track time so you can spend less of your day working, the two most important financial statements you need, budgeting for a business, outsourcing tasks, taking advantage of software, and the apps Ashley and Tony use every day. Want to know more about building a passive-income-generating real estate portfolio? Check out Ashley’s new book Real Estate Rookie: 90 Days To Your First Investment! In This Episode We Cover The step-by-step process to start investing in real estate (even if you have NO experience) Why tracking your time is crucial if you want to grow and scale your real estate business The two most important financial statements every investor MUST know Budgeting for a rental property and how much to keep in emergency reserves for your properties Separating finances and why every investor needs different bank accounts, credit cards, and more Outsourcing repeatable tasks and the tradeoff when hiring virtual workers The best real estate software and apps you should try today And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Airbnb AppFolio Asana Avail BiggerPockets BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Calculator BiggerPockets Pro Buildium Google Voice Google Tasks Guesty Hospitable Hostfully Invelo Jamil Damji's Instagram Loom MileIq Monday.com OwnerRez On The Market Podcast Personal Capital Propstream Punch Lists App Quickbooks Real Estate Rookie Facebook Group RentRedi Stessa Time by Quickbooks Connect with Ashley and Tony: Ashley's Instagram Ashley's BiggerPockets Profile Tony's Instagram Tony's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-249 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

Do you need an LLC for rental property investing? Ask some investors, and they’ll hit back with a resounding “of course!” But ask another group of investors, and they’ll tell you “not at all!” This duality causes many rookie investors to become confused, not knowing when to protect their property with the limits that come with an LLC. So how are millionaire investors setting up their properties and partnerships? Or, more specifically, what are Ashley and Tony doing to protect themselves? Welcome back to this week’s Rookie Reply! We’ve got some great questions queued up for our cabin and campground co-hosts, Ashley and Tony, to answer! First, we take a question about what to ask a seller during a final walkthrough, and how talking to tenants may be worth the extra time. Then, we hint at when to ask a listing agent for financials on a commercial property, the great LLC vs. umbrella insurance debate, and finally how to buy an investment property when you’re strapped for cash! 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 What to do during a final property walkthrough and top questions to ask a seller before you close Estoppel agreements and using them to verify leases on tricky properties Rental property LLCs and when buying umbrella insurance makes more sense When to ask for financials on a commercial property and using them to vet a deal Stock portfolio loans and how to borrow against your assets to buy real estate Partnering up to purchase more property even when you have no cash And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Real Estate Rookie Facebook Group Real Estate Rookie YouTube channel Real Estate Rookie Podcast Connect with Ashley And Tony: Ashley's Instagram Ashley's BiggerPockets Profile Tony's Instagram Tony's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-248 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

Low mortgage rates, sneaky homebuying strategies, and getting into (and out of) debt, Lindsey Iskierka's story has it all. As the lead real estate agent on the SoCal David Greene team, Lindsey is in the thick of real estate day in and day out. But she’s not just helping others buy and sell homes, she also boasts a respectable rental property portfolio, with four units sprawled out across the states in three completely different markets. And even though Lindsey is in the real estate game now, it wasn’t always this way. Back in 2015, Lindsey wasn’t making much after getting her grad degree. With her husband interested in real estate, they decided to go to a seminar, which later turned into a $40K debt they had to climb their way out of. Lindsey decided to get her real estate license to not only help pay off this debt but save enough to buy their first home—a house hack in Long Beach. It didn’t take long for the home to appreciate, leaving Lindsey and her husband with a hard choice—sell or refi the property. We won’t spoil the story, but her choice allowed her to buy multiple other units across the country, which has now become a portfolio of short-term and medium-term rentals. Lindsey also gives some killer advice on how first-time homebuyers and investors can snag rock-bottom mortgage rates in 2023. We’re talking two percent lower than today’s rate! If you want to hear how you can lock in a rate below five percent, we suggest you stick around! In This Episode We Cover Are real estate courses ever worth it, and how much they actually cost The new 2-1 buydown mortgage that'll get you a much lower interest rate Getting past your “worst-case scenario” and how doing so can help you build much bigger The 1031 exchange explained and using it to multiply your rental property portfolio Long-distance real estate investing and why turnkey rentals may be a better choice The VASH program investors can use to help veterans who need housing Why buying at today’s rates and prices can “only get better” as you hold And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group BiggerPockets The Real Estate Podcast BiggerPockets Events BiggerPockets Instagram The Real Estate Rookie Podcast GoBundance Women PriceLabs Guesty Airbnb The One Brokerage David Greene's Website Connect with Lindsey: Lindsey's BiggerPockets Profile Lindsey's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-247 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

What makes a great real estate market? If you’re a new investor, you might think that high rents and cheap home prices are all that matter, but you couldn’t be more wrong. Experienced investors search for more than just surface-level pricing when looking into where is worth investing. This is doubly true when you’re investing in short-term rentals and medium-term rentals—both of which require a specific area to succeed. So what would Ashley and Tony look for when scouting a new real estate market? Happy Holidays and welcome back to another Rookie Reply! We hope you’ve got your presents wrapped and are ready for the greatest gift of all—Ashley Kehr’s singing voice…and some advice on real estate. This time around we’ve got a few technical questions that rookies may have trouble answering. These topics range from how to find the zoning on a rental property, whether to furnish your rental when renting by the room, when to hire an attorney for a real estate deal, and what makes the best real estate investing area! 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 Whether or not furnishing a room when house hacking is worth the cost Where to locate your property’s zoning and how to see what counts as “allowable use” How to find out what your town is planning on developing/building so you know where to buy The three signs of a fantastic rental property investing market When it makes sense to hire a buyer’s attorney, and which deals require it What it means when a home is owned by the Chamber of Commissioners And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie YouTube channel Kara Beckmann’s New Christmas Album Tony’s Short-Term Rental Shopping List Facebook Groups BiggerPockets Connect with Ashley And Tony: Ashley's Instagram Ashley's BiggerPockets Profile Tony's Instagram Tony's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-246 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

How far can you go? What are your “limits” in life? For most people, it’s easy to get discouraged by everyday barriers, but for today’s guest, not letting limits define him is what led to a brighter future. Tony Clark, today’s guest, identified and assessed his limits to determine his starting point. And now, he has three rental units, including a duplex in Nashville and a house in California. Tony’s real estate investing journey started when he realized how expensive life is. After college, he worked at a church making decent money, but after dating his now wife, he realized that wasn’t enough to support a family. He turned to real estate to escape the grind and ensure he wouldn’t have to work crazy hours to live the life of his dreams. Once he recognized that he needed to buy an asset someone would want, he bought a transit van to rent out. From this purchase alone, he started his journey to pursue passive income. From his experience with the transit van, he transitioned to real estate seamlessly. After identifying his limiting factors, he settled on Nashville—where he could enjoy living and where the numbers made sense. He’s also been able to build a team and even start a property management company. Tony is now much closer to his ultimate goal of buying better properties with great tenants, spending less time working and more time building his empire! In This Episode We Cover Why owning appreciating, cash-flowing assets is the true path to wealth How to cut your expenses, live for cheap, and invest the rest Utilizing the assets you own to save money, work less, and make money simultaneously Limiting factors and how understanding your limits can make you a better investor How to set your buying criteria, and how to find investments that fit your goals Self-managing and what you need to run your own property management business And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group BiggerPockets MLS RentRedi Zillow BiggerPockets Pro The Real Estate Podcast DoorDash Turo Outdoorsy Hemlane Showami Connect with Tony: Tony's Instagram Tony's BiggerPockets Profile Tony's Tiktok Check the full show notes here: https://www.biggerpockets.com/blog/rookie-245 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

Need to know how to estimate rehab costs, even if you’re investing out of state? For most investors, it seems almost impossible to do a full-scale renovation while living hundreds, or thousands, of miles away. But, many time-tested investors have done it (including Tony), and you can too, but you’ll need to know who to go to and what to ask before you start. Or, you could bite off way more than you can chew, and risk losing your rental as a result. Happy Saturday, rookies! We’re back with another Rookie Reply, where your snowed-in on her birthday host, Ashley Kehr, and Tony J. Robinson are here to answer questions directly from the Real Estate Rookie Facebook Group and the Rookie Request Line. In this episode, Ashley and Tony share their best tips on estimating rehab costs, how to structure a partnership when someone brings money and the other brings effort, separating your rental property finances, and how to find a rock-solid CPA before tax time! 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 The easiest way to estimate rehab costs even if you’re investing from out of state How to split expenses on a rental property and which different bank accounts to have Business credit cards and how to make bookkeeping much easier for yourself Why expert investors ALWAYS buffer in more money for unexpected rehab costs How to split roles, responsibilities, and profits in a real estate partnership What to look for in a real estate CPA and questions they MUST be able to answer And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group QuickBooks Stessa MLS Lowe's Home Improvement The Home Depot From Line Cook to Long-Term Investor with 32 Wholesale Deals BiggerPockets Bootcamps BiggerPockets Forums Real Estate Rookie YouTube channel Connect with Ashley And Tony: Ashley's Instagram Ashley's BiggerPockets Profile Tony's Instagram Tony's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-244 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

Building a short-term rental business is surprisingly simple. You buy a property, furnish it, then throw up some pictures of it onto booking sites like Airbnb and VRBO. After a few weeks, a booking comes in, and from there you’re in the game! This is all great until a poor review comes in, sending your listing to the bottom of the pile and your profit with it. Through no fault of your own, your income stream just got cut off, and now you have a mortgage to pay without a calendar full of bookings. For many hosts, this type of scenario seems like game over for investing. But for Mark Simpson, it’s the start of something even better. Mark grew up in hospitality, marketing his family’s bed and breakfast nestled in the British countryside. His family was frantically cleaning, cooking, and booking with spreadsheets and no system to streamline their business. This ongoing problem led Mark to build Boostly, the software allowing hosts to take their bookings into their own hands. Mark has helped numerous short-term rentals bring in millions in direct bookings, helping hosts and guests minimize the amount spent on fees while maximizing their experience. So how do vacation rental hosts start doing direct bookings? What benefits come from leaving the big booking sites behind? And how can hosts regain autonomy so their business is never forced to stop? Mark answers these questions and more in today’s episode! In This Episode We Cover Direct booking sites explained and why they’re starting to rival online travel agencies How bad reviews and unfair algorithm updates can destroy your listing overnight Converting guests from the big sites into direct bookings effortlessly Building a direct booking brand so your short-term rentals become more than just another vacation property Why online travel agencies may start charging hosts to get higher rankings Pricing tools, online accreditation, and other things direct booking hosts need to survive And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Boostly’s Property Management Software List Airbnb Vrbo Booking.com Expedia Group Tripadvisor Hospitable Hostaway Hostfully Guesty For Host Uplisting YourPorter OwnerRez Stripe I-PRAC AirCover Superhog AutoCamp Why Hosts Are Backing Away from Travel Sites and Building Direct Bookings Double Your Cash Flow Overnight (In ANY Market) with Medium-Term Rentals How Airbnb designs for trust | Joe Gebbia PriceLabs AirDNA Wheelhouse Pricing Beyond Pricing Stayfi MailChimp Korona POS Connect with Mark: Mark's Instagram Mark's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-243 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

Foreclosures have slowly been creeping up as real estate values get hit hard. With home prices dropping and a tough economic forecast ahead, could a wave of foreclosures be on the horizon? If so, who will this affect the most—residential real estate investors like Ashley and Tony or commercial real estate investors with their million-dollar multifamilies? We’ll get into what exactly could happen in this week’s Rookie Reply! Ashley and Tony have taken four very different questions this week, directly from real estate rookies like you! They touch on how an upcoming foreclosure crisis brings an opportunity to real estate investors, who covers closing costs and where to find a purchase and sale agreement, home appraisals explained, and how to get funding for your home renovation or rehab! These answers are crucial if you’re looking to invest in 2023, so make sure you tune in! 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 Could flipping be in danger as interest rates rise and foreclosures start to increase? Where to find a purchase and sale agreement when buying an off-market deal Who pays closing costs and how to negotiate for better terms with a seller Home appraisals explained and how to ensure the appraiser gives your home the highest value possible Funding renovations for BRRRRs and flips, and creative ways to finance your deals And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast BiggerPockets Forums On The Market Podcast Legaltemplates.net BiggerNews March: How a Surge of Foreclosures Will Impact the Housing Market w/Auction.com’s Daren Blomquist Connect with Ashley and Tony: Ashley's Instagram Ashley's BiggerPockets Profile Tony's Instagram Tony's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-242 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

Hard work comes with everything, and real estate is no exception. To achieve success, you must be willing to work hard and continue to work hard even when things get rough. That means viewing mistakes as lessons and being resilient enough to power through whatever life throws at you. Today’s guest, Sahleem Lee, started his real estate journey and almost gave it up, but after a three-year hiatus, he has come back even stronger. Now he has thirty-two wholesale deals under his belt. Sahleem's real estate journey started with flipping cars and fast food. Sahleem worked as a line cook, but he always planned on moving up. His eye was on the general manager position until he got into car auctions. He began flipping cars, and his coworker saw his real estate potential. After a lot of convincing, they became business partners and split a deal fifty-fifty. Unfortunately, the deal went south, and after such a terrible experience, Sahleem decided to step away from real estate. He got bit by the real estate bug again three years later after stumbling on a YouTube channel about wholesaling and reading Rich Dad Poor Dad. From there, he decided to use real estate to pursue freedom and started to become a student all over again. Now, along with his wholesale deals, he has three long-term rentals and two and a half acres, where he plans to build twenty-two units with his business partner and mutual mentor. In This Episode We Cover The importance of mindset and how to use it to overcome the roadblock of fear and analysis paralysis Mutual mentorship and how to add and extract value at the same time Learning how to rehab with no experience and how to self-educate Wholesaling and how to prepare for your first real estate wholesale deal Skip tracing and why it can be a helpful tool when trying to close on an off-market property Sahleem’s marketing tactics and how to use them to improve your lead generation And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Youtube Channel BiggerPockets On The Market OfferUp Craigslist Google Voice Connect with Sahleem: Sahleem’s Instagram Sahleem’s Facebook Sahleem's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-241 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

Off-market real estate deals can give investors like you HUGE discounts on what would be expensive investment properties. Either due to the property condition or the state of the seller, these real estate deals sell for sometimes hundreds of thousands less than their on-market equivalents. But finding them can be a challenge. As a result, most new investors rely on real estate wholesalers to bring them a deal. But what if the price point still doesn’t make sense? Welcome back to another Rookie Reply, where we’re joined by real estate wholesaling master, Jamil Damji, and newly self-employed investor, Ethan Wilson. Jamil and Ethan both have a taste for off-market, underpriced deals and are here to share their wisdom with you. In this episode, you’ll hear how to negotiate with a wholesaler who’s firm on price, how to find off-market deals WITHOUT cold-calling sellers, and Jamil’s killer deal-finding strategy that costs far less than the competition! 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 How to negotiate with a real estate wholesaler even if they have a set purchase price Investing in your early twenties and why partnering up can help you scale faster Cold calling tips and why most investors are too scared to talk to sellers The EASIEST, cheapest way to find off-market real estate deals Meth house and mold remediation and why you should ALWAYS google a potential property’s address And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast BiggerPockets Forums On The Market Podcast KeyGlee AstroFlipping BiggerPockets On The Market Youtube Channel Connect with Ethan and Jamil: Ethan's Instagram Ethan's BiggerPockets Profile Jamil's Instagram Jamil's BiggerPockets Profile Jamil's Youtube Channel Check the full show notes here: https://www.biggerpockets.com/blog/rookie-240 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

Before the most well-known real estate moguls were moguls, they were rookie investors with a dream. While it took vision to get them to where they are today, they wouldn’t be successful without goals and a plan to achieve their goals. Tony and Ashley, two investing tycoons in their rights, use today’s episode to reflect on their goals from 2022 and start thinking about goals for 2023. One of the most important parts of goal setting is the plan to get your goals accomplished. A goal without a plan is just an unattainable dream, but with a plan, your dreams can become your reality. So how do you intentionally set a goal? You turn your goal into a SMART goal. SMART goals are more achievable since you measure them, and when you start seeing results, it encourages you to keep going and accomplish them. Goals give you something to work towards, but sometimes you don’t meet them, and that’s okay. The beautiful thing is that they can roll over. Missed your goal this year? Try again next year! Tony and Ashely both fell short on a few of their goals for 2022, but that didn’t discourage them. Develop a growth mindset, and a missed goal can turn into an opportunity. So join Tony and Ashely, pull out a notepad, write down your goals and make 2023 the year that everything changes. Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast BiggerPockets Bookstore Airbnb Upwork PropStream Alpha Geek Capital Monday.com Find Money, Partners, & Deals Using The “D.A.D System” w/ Mike Michalowicz Real Estate Rookie Youtube Channel The Science Behind Setting and Achieving Big Goals Connect with Ashley and Tony: Ashley's Instagram Ashley's BiggerPockets Profile Tony's Instagram Tony's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-239 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

Section 8 investing isn’t as scary as it seems. Most landlords will opt to not rent to section 8 tenants, fearing non-payment or just getting stuck with a bad renter. But, this means that the tens of thousands of potential tenants, waiting with guaranteed rent, have nowhere to stay, while you struggle to fill an empty unit. Ashley Hamilton, Detroit-based investor, thinks that not renting to section 8 tenants could be a huge mistake. Welcome back to this week’s Rookie Reply! This time, we’ve got Cullen asking: Is it a bad idea to invest in properties out of state where the housing market is cheaper and more affordable for us? Or would it be better to save more money and invest in the market we are currently living in? Good news for Cullen, we’ve got a cash flow market expert here to help answer his question! 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 Cash flow vs. appreciation and when to start investing out-of-state Buying in affordable real estate markets and what to look for before you invest Section 8 investing and how “guaranteed rent” can help boost your property profits Action steps to take when identifying a rental market or potential investment property Tenant screening tips that’ll keep your portfolio at 100% occupancy The one thing you’ll need if you want to be financially free through real estate And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group BiggerPockets MLS The BiggerPockets Real Estate Podcast Real Estate Rookie Podcast 10 Deals on a $20K Waitress Salary With Ashley Hamilton Investor Update: The “10 Deals on $20K/Year” Investor’s Explosive Growth BiggerPockets Forums BiggerPockets Calculators Connect with Ashley: Ashley's Instagram Ashley's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-238 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

The beautiful thing about building wealth is there’s not just one way to reach your financial goals. This is where your creativity and ambition come into play. Today’s guest, Daniel Schiermeyer, built his residential portfolio and then leveraged that to buy businesses, with more ways to cash flow than we can count! Daniel started getting into real estate after college when he read The Automatic Millionaire. He prioritized living cheaper, and in Charlotte, it was cheaper to buy a house than to rent, so he bought his first house at twenty-nine. With a thirty-year mortgage on his first house, Daniel realized if he bought a house every year or two, by the time he was sixty, he could pay off all the houses and have a strong retirement plan. His real estate portfolio consists of two townhomes, a duplex, a self-storage facility, and businesses to boot! Sticking to residential real estate was the plan until Daniel drove by a car wash for sale with his brother. His brother encouraged him to pursue it, so they called the number on the “For Sale” sign. Once they talked to the broker, ran the numbers, and walked the property, they realized the numbers made sense. Now, he’s got a cash-flowing car wash and residential and commercial real estate all while chasing financial freedom! In This Episode We Cover Using real estate to build a retirement plan and why real estate is the ultimate payday Analyzing commercial real estate deals and how to determine potential growth Purchasing land vs. purchasing a business and why it’s beneficial to buy both How to run a business and why self-education is essential Self-storage investing 101 and how to create value in the self-storage space Building a real estate investing business plan and the key things you need to succeed And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group Monday.com BiggerPockets LoopNet BizBuySell MLS $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne AJ Osborne’s Instagram The BiggerPockets Real Estate Podcast Self Storage: The Misunderstood Money Maker Most Investors Overlook 4 Key Ways to Build Wealth in Real Estate Connect with Daniel: Daniel's Instagram Daniel's Facebook Profile Daniels BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-237 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

Pace Morby’s name is synonymous with creative financing. In fact, you could say that he’s brought back a revival of strategies like subject to and seller financing. He’s been so successful with these strategies that Pace has been able to buy over six hundred rental units this year without using a single bank loan! He believes that now, even with rising interest rates and high inflation, rookie investors have a chance to get better deals than ever before! Welcome to this week’s episode, where we’re live from BPCon2022! We’ve brought in Pace Morby, friend of BiggerPockets, to talk about everything related to creative finance. If you’re brand new to this topic, don’t be alarmed. While some of Pace’s methods may sound complicated, they aren’t actually so difficult in practice. And in just one episode with Pace, you could be convinced to try them out on your next deal! Pace shares how he’s finding deals, where he’s buying, the negotiation tactics he uses, and why now may be one of the best times to buy. He also discusses why sellers are so open to trying alternative financing options, how you can pick up real estate deals for zero dollars down, and why creative finance options offer far better returns than bank financing in 2022, 2023, and beyond! In This Episode We Cover Creative finance explained and why now is a great time to try it Seller financing vs. subject to, and when to go after pain vs. gain How creative financing builds a win-win scenario for buyers and sellers Whether or not rising interest rates and a shaky housing market affect these strategies Negotiating with a seller and how to sweeten your offers so you get deals on your terms Where to find the deals best-suited for seller financing and subject to And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Zillow MLS Airbnb Craigslist Kelly Blue Book OfferUp Facebook Marketplace Leasetrader Opendoor LandWatch ListSource PropStream Weststar Loan Servicing AirDNA 300 Doors, 100% Creative Financing with Pace Morby The Essential Elements of the Creative Financing Toolbox Connect with Pace: Pace's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-236 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

To have something you’ve never had, you have to be willing to do something you’ve never done before. Today’s guests, Amy Wright and Mitch Mathern are doing something most people haven’t seen before, a twist on the BRRRR method. They’ve closed on three properties in three years, and all their properties are over 100 years old! Amy and Mitch started their real estate journey right before COVID and went into contract on their first property in February 2020. They started investing when Amy was fresh out of college, and with no money to buy an investment property, they bought a primary residence instead. Since they purchased the home as a primary residence, they used an FHA loan and came to the closing table with only $7,000! Their first property marked the beginning of their strategy: purchase as a primary, rehab, and rent—the PRR. But buying older homes isn’t a drawback to this strategy, it’s a benefit! Amy and Mitch refer to themselves as restorers instead of flippers. While they rehab their homes, they do their best to keep the character and history alive. Their unique strategies have helped them differentiate themselves in their market and succeed. They hope to keep up their current pace of one property a year and eventually increase the number of properties per year as they continue to scale. In This Episode We Cover The benefits of a live in flip and how to pace yourself when doing the rehab FHA lending and how to take advantage of all its benefits when you first get into real estate How to spot renovation red flags when walking a potential property and how to DIY your rehab Investing in older homes and how to rehab an outdated property while keeping its history alive How to attract a top-tier tenant and screening tips that will save you a LOT of time How to structure your “buy box” and shift it as needed so you can grow your real estate portfolio faster And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Real Estate Rookie Podcast RentRedi Zillow BiggerPockets Pro MLS 6 Ways to Invest in Real Estate with Little Money or Experience Connect with Amy & Mitch: Amy & Mitch's Instagram Amy's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-235 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

Before you invest in real estate, everything can seem new and confusing. Bidding on houses, renovation budgets, finding tenants—these are all skill sets you must acquire to become a financially independent real estate investor. But that doesn’t mean you need to be a pro before buying your first property. Just ask Brittany Arnason, AKA InvestorGirlBritt, the Canadian real estate superstar who started BRRRR-ing her way to wealth at just eighteen. We brought Britt onto the show to help us dive deeper into a question we received on the Real Estate Rookie Facebook Group. This question came from JP, asking: How do you network and partner with more experienced investors when you feel you have nothing to add value? Most investors never feel like they know enough, and this is especially true if you’ve never done a deal before. But, Britt may serve as the perfect person to share her experience with JP, as she went from knowing nothing about real estate to becoming a multi-million dollar commercial investor all before the age of thirty! 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 Why ability often trumps experience and understanding that you don’t need to know everything all at once How food poisoning turned into a rental property portfolio for InvestorGirlBritt Outsourcing, delegating, and hiring the people that can help you grow Surrounding yourself with better investors that push you higher so you can build your own portfolio Imposter syndrome and why almost every investor does NOT feel like an expert Content creation, digital detoxes, and why you should always be building an online brand And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Real Estate Rookie Podcast The 7 Tips @investorgirlbritt Used to Go from Amateur to Pro Investor How to Become a Real Estate Millionaire (NO Experience Necessary) Connect with Brittany: Britanny's BiggerPockets Profile Britanny's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-234 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

The path to financial freedom is a marathon, not a sprint. It requires patience, discipline, sacrifice, and a long-term mindset. Today’s guest, Logan Kohn, is on his way to financial freedom with over one million dollars of real estate with three properties at only twenty-one years old! Logan planned to invest in real estate later in life, but COVID forced him to rethink his timeline. Since interest rates were at an all-time low during the pandemic and his income took a hit, Logan decided to expedite his investing journey. For his first investment property, he looked at his county, but it wasn’t affordable, so he looked at the next county over. It wasn’t the best area, but he saw the opportunity for growth, and now his first property has already appreciated over thirty percent! Logan bought his first property and his other two properties in the span of one year, which required extreme financial discipline and frugality. Logan has been interested in growing his money since he was a child. From the age of ten to the end of his teenage years, he started various side hustles to make money. He’s done magic on the street, dropshipping, affiliate marketing, and email marketing. At seventeen, he discovered stocks and started stacking his money and letting it grow. Now he invests his money while having few expenses to be as frugal as possible so he can multiply his wealth through real estate! In This Episode We Cover How to spot a growing market through real estate market analysis The importance of a long-term mindset and how to use it to find financial freedom Living frugally and how to cut back on your expenses (it’s easier than you think!) The process of self-managing your rental properties and building good rapport with your tenants Flood Insurance and insurance options for those affected by Hurricane Ian And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Real Estate Rookie Podcast Channel Biggerpockets Facebook Groups BiggerPockets Forums Designing a Frugal But Luxurious FI Life by Age 32 Should You Self-Manage Your Properties or Hire a Pro? Here’s How to Tell Connect with Logan: Logan's BiggerPockets Profile Logan's Instagram Logan's Youtube Channel Check the full show notes here: https://www.biggerpockets.com/blog/rookie-233 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

Medium-term rentals are not new to real estate investing, but most investors have hardly heard of them. For years, corporate travelers would rent a room, apartment, or small property for a year or less. These travelers would pay a premium to avoid long-term leases and stay close to their work. But, with the rise of traveling nurses and digital nomads, the medium-term rental strategy is in a revival when investors need it most. Joining us on today’s show are investors, coaches, and authors, Sarah Weaver and Zeona McIntyre. Their new book, 30-Day Stay, is a masterclass in the wonderful world of medium-term rentals, walking new investors through everything they need to double their cash flow almost overnight. This strategy sounds too good to be true, but even a short-term rental king like Tony Robinson says that he’s intrigued. So is there a catch to this no vacancy, high cash flow, and often headache-free type of housing? In this episode, you’ll learn the pros (and very limited cons) of investing in medium-term rentals. You’ll also hear which markets this strategy works best in, what type of software you’ll need to run one, and how medium-term rentals are starting to rival vacation rentals! If you’re looking for an investment with a high ROI, that doesn't need to be minutes from a beach, this strategy is for you! In This Episode We Cover The medium-term rental strategy explained and why it’s become so popular in 2023 Short-term rental regulations and whether or not they affect medium-term rentals How to analyze a medium-term rental and what to look for in an investing area Tenant screening tips and building your lease agreements for medium-term tenants Which real estate markets work best for medium-term rentals (and which to avoid) Running your medium-term rental hands-free and the best software picks to choose And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group Real Estate Rookie Podcast Semi-Retired at 30 Thanks to One Year’s Worth of Real Estate Investing Early Retirement Through Short-Term Rental Properties with Zeona McIntyre W2 Retired and Traveling the World with Just 15 Units w/Sarah Weaver PriceLabs AirDNA Furnished Finder Vrbo Hospitable Google voice Facebook Groups Monday.com Trello Asana Avail Connect with Sarah & Zeona: Sarah's Instagram Sarah's BiggerPockets Profile Zeona's Instagram Zeona's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-232 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

If early retirement seems out of reach right now, try semi-retirement. Once you get there, you’ll only be halfway to early retirement, just like today’s guest, Jessie Dillion. At only thirty years old, she is semi-retired and has scaled her real estate portfolio to almost two million dollars in nine months, with five properties total! When people think about high returns, they often think about a high unit count—but why have a lot when you can do the same with a few? Jessie is strategic about each property purchase she makes and has made a goal to make one smart investment each quarter. She currently has a single-family home and two duplexes. One of her duplexes is a house hack, and her portfolio sports a mix of long-term, short-term, and mid-term tenants. Jessie’s success is due to how responsible she is with her finances. To finance her first property, she built up her savings to ensure she had enough to cover any surprises. As Jessie continues to scale, she has gotten more creative with her financing. She has formed great relationships with her lenders because of her ability to ask questions and carefully choose where and how she gets her funding. Now she is semi-retired at thirty years old and pays a measly fifty dollars a month towards her mortgage! In This Episode We Cover The FIRE movement and how to start your early retirement journey today How to use transferable skills from other jobs to make investing easier Building trust with your spouse and getting them on board with your investing journey Getting the funding for your first rental property and how to use creative financing for the rest Brilliant savings tips and how to rapidly increase your savings The loan process and how to build a strong relationship with lenders And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group On the Market Podcast Jamil Damji's BiggerPockets Profile Pace Morby's Instagram Brittany Arnason's Instagram Ashley Hamilton's Biggerpockets Profile 10 Deals on a $20K Waitress Salary With Ashley Hamilton Rachel Richard's Instagram Henry Washington's Instagram Zillow Furnished Finder Craigslist Facebook Groups AirDNA PriceLabs Data.rabbu Monday.com Connect with Jessie: Jessie's BiggerPockets Profile Jessie's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-231 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

Is the 1% rule in real estate still relevant? Who shouldn’t be buying turnkey rentals? And why is an escrow account favorable for scaling real estate investors? All these questions and more are coming up in this Rookie Reply. We’re back at BPCon 2022, and joining us is fellow investor and turnkey operator, Zach Lemaster. You may have heard Zach’s episode on the BiggerPockets Real Estate Podcast or maybe you’ve used his turnkey company, Rent to Retirement, before! Zach helps us answer an array of questions, some from semi-passive turnkey investors and some from active investors. We touch on investor lines of credit and how to secure them, the 1% rule’s relevance in 2022, whether or not to get preapproved before finding a deal, buying off-market, and much more! Zach also poses three questions every investor should ask BEFORE investing in turnkey rentals. 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 Where to find investor lines of credit and which banks are your best bet Should you get an appraisal on an off-market property? The 1% rule explained and how it’s holding up in 2022 (and beyond) Escrow accounts and which types of investors should optionally enroll in them Who should (and shouldn’t) invest in turnkey rentals and the questions you should ask your turnkey provider And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Facebook Group Real Estate Rookie Podcast How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster The One Mistake That Almost Put My House in Foreclosure Rent to Retirement BiggerPockets Calculator Connect with Zach: Zach's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-230 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

Your network can be your most powerful tool inside and outside of real estate. Today’s guest, Ryan John, started his real estate investing journey after seeing his friends succeed in the investing space—including his childhood friend, Ashley Kehr. Ryan has been in the real estate game for a year and a half and has closed on two off-market deals—a house hack and a duplex. As all rookies know, trying to find and close on your first deal can be a mix of emotions. From excitement to fear to anxiousness and fulfillment, you go through various emotions when trying something you’ve never done before. While Ryan wanted to get started right away, he experienced a lot of nervousness regarding his first deal—waking up at three in the morning, scared he was missing something. But, unlike many other investors, he didn’t allow this to deter him from accomplishing his goals. Ryan prefers off-market deals because he doesn’t have to go through a realtor. An off-market deal requires more legwork but often comes with significantly better numbers. Becoming an investor has also given Ryan the freedom to make big life changes. Ryan went to his first real estate investor meetup and met investors with a wide range of experience. After attending, an incident at work prompted him to quit. Since he lives below his means and has cash-flowing rentals, he has the time and ability to breathe and explore his options before deciding his next steps. In This Episode We Cover How to overcome analysis paralysis and the fear of your first deal The pros and cons of off-market deals and how to find them in today’s market How to buy a small multi-family property and why they’re worth investing in House hacking 101 and how to make money using unused space on your property or in your home Time value vs. opportunity cost and how to know when it’s time to outsource The power of real estate meetups and being surrounded by motivated investors And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group The Real Estate Podcast Real Estate Rookie Podcast RentRedi Connect with Ryan: Ryan's BiggerPockets Profile Ryan's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-229 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

A cash offer almost always gets a seller's attention. Whether someone comes in low or high, the prospect of a smooth closing without any loan contingencies is often more than enough to get a deal done. But what if you don’t have stacks of cash lying around? Maybe you’re trying to get your first rental property or house hack with a conventional, FHA, or VA loan. How do you set yourself apart from the hotshot who roles in and offers all cash without any appraisal necessary? Worry not because Ashley and Tony have done it dozens of times before. Welcome back to this week’s Rookie Reply, where we take questions directly from Instagram, Facebook, the BiggerPockets Forums, and our Rookie Request Line. This week, we talk about how to beat cash offers, what to do when tenants in the same property start disputing, and appraisal tips to get your home valued higher. We also touch on how to network, make better connections, and build genuine relationships with other investors in your area! 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 What to do when an appraisal comes back lower than you expected Using comps (comparable properties) to boost your home’s value in an appraiser’s eye Handling tenant disputes, and whether or not you’re liable if the argument gets physical The three things that motivate a seller when listing a property (and how to use them to get better deals) Beating cash buyers and using speed and price to your advantage Networking tips for new investors (even if you’ve never been to a real estate meetup) And So Much More! Links from the Show Airbnb BiggerPockets Real Estate Rookie Facebook Group Real Estate Rookie Podcast On the Market Podcast Thanks for Visiting Podcast Vrbo MLS Connect with Ashley and Tony: Ashley's Instagram Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-228 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

Who says you can’t have it all? The career, the love, the wealth—it can all be yours if you want it and work for it. Today’s guest, Mackenzie Grate, works hard so she can have it all. Working full-time as an assistant middle school principal, Mackenzie spends her nights and weekends as a real estate investor and agent. She owns two single-family homes, a fourplex, a duplex, a short-term rental, and her primary residence. Mackenzie’s real estate investing journey started in 2017. While living in her apartment, she rented out her extra room and decided to buy a home once rent prices became a little too high to handle. From there, she started looking for her first deal by googling the three fastest-growing job markets in New York. She then chose the market she wanted to invest in, asked a friend to go upstate with her, and started driving for dollars. She put in an offer on the first house she saw and closed on the home. But was she doing it alone? There is a common misconception that when you invest with a significant other, they have to be involved to be on board. Mackenzie’s relationship with her husband proves that involvement doesn’t equate to support. He supports what she’s doing, but he isn’t an active part of her investing journey, and for them, that works. He shows support by doing other everyday tasks at home, giving Mackenzie more time to work and pursue real estate. This freed-up time is essential for Mackenzie as she juggles all her endeavors and earns her nickname, the "Mack of All Trades." In This Episode We Cover The pros and cons of getting your real estate license and how to determine whether becoming an agent is for you The benefits of owning a co-op and what it means to “own a share” of a building How to find and capitalize on emerging markets that have strong rental demand Investing with a spouse and how to find the right balance for your relationship Property management vs. self-management and how to weigh the pros and cons for both Managing a short-term rental and automating your processes to become the ultimate host And So Much More! Links from the Show Ashley's Instagram Tony's Instagram Airbnb BiggerPockets Real Estate Rookie Facebook Group The Real Estate Podcast BiggerPockets Forums Real Estate Rookie Podcast Zoom RentRedi Digital Nomad-ing and Answering All Your FIRE Healthcare Questions w/ Amy & Tim from GoWithLess Connect with Mackenzie: Mackenzie's Instagram Mackenzies BiggerPockets Profile Mackenzie's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-227 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

As a new investor, financing can come with a lot of questions. Financing your first property itself seems like a steep learning curve, but once you find a method that works for you, it makes investing a lot easier. Welcome back to this week’s Rookie Reply. But, instead of just answering one question, we’ll be going over multiple to get you on the fastest path to investing in real estate. Today, we’re touching on topics like how much money you'll need to invest in your first property, how to build a lease, recommendations for financing without a W2, and how rising interest rates affect investors. Before you invest, understanding the market you want to invest in is essential. You also have to understand the expenses that come with your property. Once you know these two things, you’ll have a more accurate estimate of your costs. A perk that comes with investing is that the money doesn’t have to be yours. Whether you decide to take out a conventional mortgage loan or partner with another investor, you can creatively finance your deal to have less money come out of your pocket! 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 How to understand the market you’re investing in, the average cost of a property, and the range of expenses you can expect Safety reserves and how much to have on hand before you buy a property Creative financing methods that will lessen the amount of capital you’ll need to close Financing without a traditional W2 and how small banks, mortgage brokers, and co-signers can be your best friends Easily building your perfect lease using the BiggerPockets lease agreements! And So Much More! Links from the Show Airbnb BiggerPockets BiggerPockets Calculator Real Estate Rookie Facebook Group Real Estate Rookie Podcast What Makes Rookies Into Millionaires? Quitting What You Hate! BiggerPockets Forums Policygenius BiggerPockets Pro RentRedi Biggerpockets Bootcamps Connect with Ashley and Tony: Ashley's Instagram Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-226 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

Life is unpredictable, and there's no way to get around that. Instead, you have to learn to pivot and accept where you are, so you can get to where you're going. Today’s guest, Josiah Hein, was hit with life’s unpredictability when he was in a car accident with a drunk driver, resulting in damage to his neck and back. Josiah could have easily used the accident as a reason to give up, but instead, he took it as an opportunity to pivot and build another business. Josiah has closed on three deals, including a tiny home that alone cash flows $6,000 a month! Josiah's first business required strenuous physical labor, so after his accident, he couldn't work as much. He used his newfound time to start learning about real estate. He had always considered real estate as a long-term retirement plan, but his plan suddenly got expedited. He started investing right before COVID by converting his old house into a rental property. His portfolio also includes an out-of-state property and a tiny home. He was inspired to invest out-of-state after reading David Greene’s Long-Distance Real Estate Investing. After five months of researching to find an out-of-state market, he settled on Tulsa, Oklahoma. He also has a lucrative tiny home bringing in some serious cash flow every month! In This Episode We Cover Using a setback as a setup and how to pivot when life gets unpredictable Finding “hot” markets and what criteria to look for Doing a profitable cash-out refinance and the BRRRR strategy Self-managing short-term rental properties and using listing sites like Airbnb to rent out your property Tiny homes 101 and the benefits that go beyond having a mini-mortgage Buying out-of-state investment properties and how to manage your rental remotely And So Much More! Links from the Show Ashley's Instagram Tony's Instagram Airbnb BiggerPockets BiggerPockets Calculator Real Estate Rookie Facebook Group The Real Estate Podcast BiggerPockets Forums Real Estate Rookie Podcast Play the Game or Get Played: Using Paternal Instincts to Close on 17 Units Zillow The Real Estate Robinsons Youtube Channel Vrbo CDS Rental Calculator Robuilt’s Tiny Houses That are Cashing in MASSIVE Profits Every Month Connect with Josiah: Josiah's Instagram Josiah's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-225 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