Real Estate Rookie

Ashley and Tony’s DMs are open for real estate Q&A business! Just like last week, this week’s question comes from Tony’s Instagram DMs. The question? How are you scaling your real estate portfolio so quickly? How do you finance your deals? For most rookie investors, real estate financing seems like a big hurdle to get over. With deals flying off the MLS so quickly nowadays, having your funding locked and loaded is as important as ever. Thankfully, even if you don’t qualify for bank financing (or you’ve maxed out your personal loan limit), you can still find some phenomenal financing options. Here are some suggestions: You don’t need the money, use a partner as a source of funding Using a cash-out refinance or HELOC from a current property to fund your deals Walk into your bank and ask what they can do for you (you may be surprised by your options) Ask the seller about owner financing to close on deals without the hassle of a bank And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Real Estate Robinsons Youtube Channel A General Contractor (Almost) Ruined Our Rehab Yelp James Dainard's Instagram Sara's Instagram Swaterzzz's Instagram Rookie Podcast 102: $10M Profit On Her First Deal?! It’s Possible with Campground Investing BiggerPockets Podcast Ryan Pineda's Instagram Check the full show notes here: https://www.biggerpockets.com/rookie152 Learn more about your ad choices. Visit megaphone.fm/adchoices

Most people assume they’ll achieve financial freedom after they make their dream salary, but what they don’t realize is you can’t out-earn your toxic money habits. Today’s guest, Daniel Shin, learned this quickly when he started making his full-time surgeon salary. As a child, Daniel was fortunate enough to live the ideal suburban lifestyle, but when his dad got laid off during a recession, things quickly changed for the worse. After seeing his parents struggle to put food on the table, young Daniel decided he would do everything he could to prevent himself from being in a similar situation financially. Once Daniel started making his surgeon salary he assumed he’d be financially stable, but he began to expand his lifestyle to his salary and started drowning financially. It was at this point he decided to turn to real estate investing. He started by listening to BiggerPockets and decided investing was for him once he realized he could reach financial freedom faster through real estate. The first couple properties he invested in were turnkey properties. With less risk, Daniel felt it was a comfortable start to his investing journey, but after a while he wanted more of the action. Over the last three years, he has acquired about twenty-eight units including four duplexes and two small apartment buildings. Daniel is now focused on building his “real estate empire” while becoming financially free. In This Episode We Cover How to balance your salary and spending habits (and live below your means) The benefits of investing in turnkey properties and how to find a turnkey operator How to deal with a “bad” property and how to prevent investing in any more future headache rentals How to show possible investors, mentors, or partners that you’re committed The importance of getting thorough inspections and the consequences of skipping them And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Rookie Podcast 55: Combining House Hacking and Live in Flips with Tyler Madden Tyler Madden's Instagram Sara's Instagram Brandon Turner's BiggerPockets Account BiggerPockets Podcast Dave Ramsey's Podcast Grant Cardone's Podcast BiggerPockets Money Podcast Scott Trench's BiggerPockets Account Mindy Jensen's BiggerPockets Account BiggerPockets BiggerPockets Forums Rookie Podcast 29: Growing Your Portfolio with Turnkey Investing with Whitney Hutten and Lance Robinson Tiktok The Real Estate Robinson's Tiktok Account Check the full show notes here: https://www.biggerpockets.com/rookie151 Learn more about your ad choices. Visit megaphone.fm/adchoices

Ashley and Tony’s Instagram DMs have been blowing up! This week’s question comes from Collette through Tony’s Instagram direct messages. Collette is asking: Do you make offers based on pro forma or actual rent numbers? If you’re a real estate rookie or a residential-only investor, this may be the first time you’ve heard the term “pro forma” before. A real estate pro forma is simply a spreadsheet or document that projects the estimated financials on a property once capital expenditures, rent increases, or other improvements have been put in. So, should you trust those numbers? Here are some suggestions: Remember to “trust, but verify” and always run your own numbers on projected income Use multiple different investor scenarios: pro forma, current numbers, worst case, etc. Take into account the holding cost of performing a large rehab on a commercial property Calculate your working capital and CapEx budget needed to acquire the property successfully And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Rookie Podcast 103: From Restaurant Waiter to 100+ Deals in Only 4 Years w/ Derrick Acuff Instagram BiggerPockets BiggerPockets Rent Estimator BiggerPockets Pro Membership Zillow Craigslist Facebook Marketplace BiggerPockets Calculator Reports Check the full show notes here: https://www.biggerpockets.com/rookie150 Learn more about your ad choices. Visit megaphone.fm/adchoices

While leaving your W-2 to pursue real estate can be intimidating at first, it’s important to realize the skills you learned at your W-2 don’t all go to waste. Most of what you learned is transferable when it comes to the wonderful world of real estate investing. Instead of looking at your W-2 as a means to an end, think of it as an experience-based asset. This is exactly what today’s guest, Emily Fackler, did. As a former salesperson, Emily was no stranger to the word “no”. In fact, she had heard it so many times she has created a thorough follow-up system to combat it. This follow-up system led her to her first flip, purchasing a home that multiple people told her “was already sold”. Her first flip took her 17 months and while she did two other flips besides that, she soon realized flipping wasn’t for her. This took her to her next real estate venture: mobile home investing. Emily partnered with her best friend and bought a 39 lot mobile home park for a mere $139,000. Compared to flipping homes, Emily loves it! Investing in mobile homes makes more sense for her financially and allows her to have a sense of relationship with all her tenants. She has been able to hire a property manager to handle all the logistics and hopes to bring more homes into the park. After finding her niche with mobile homes, Emily is ready to hit the ground running and eventually be known as the “Mobile Home Park Queen”. In This Episode We Cover The importance of follow up and how much of a difference it can make in your business How to finance your flips, rental properties, and mobile home parks Structuring family partnerships and the benefits of working with those you trust How to pitch investors on a potential deal so they feel confident in your value The “stair-stepping method” and how to increase rent in a gradual, less intrusive way And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group BiggerPockets Podcast Ed Mylett's Website The MFCEO Project Podcast BiggerPockets Conference BiggerPockets Clayton Homes Open Door Capital Instagram Facebook Rookie Podcast 91: 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @Liliinvests Propstream Tony Robinson’s Podcast Netflix Hulu Realtor Zillow BiggerPockets Forums BiggerPockets Bootcamp The 7 Income Streams of Millionaires Check the full show notes here: https://www.biggerpockets.com/rookie149 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Brandon through Ashley’s Instagram direct messages (follow her @wealthfromrentals). Brandon is asking: I live in a great neighborhood where my rent is less than a potential mortgage. I’m looking to invest in a different town experiencing great growth, but I would live there myself. Is it a bad idea to purchase a rental property before purchasing my primary residence? Both Ashley and Tony had to ask themselves this same question as they started their real estate investing careers. While they took different approaches, in the end, they both agree that this decision is far more subjective than many people think, and it will entirely depend on your family plans, cash flow, and net worth calculations. Here are some suggestions: Ask “will this home purchase contribute faster to my cash flow or net worth goals?” Decide on the importance of having a “home base” in your name Understand how your financing options may change after buying the property Calculate how long it will take you to invest/buy your primary after your purchase Make the decision through a five-year lens And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Check the full show notes here: https://www.biggerpockets.com/rookie148 Learn more about your ad choices. Visit megaphone.fm/adchoices

To be a successful entrepreneur and investor, you need to learn how to turn a no into a yes. Today’s guest, Anthony Michael, has earned his title as a successful entrepreneur from doing just that. Through determination, calculated risk, and finding ways to create value, Anthony has done thirteen flips while also becoming a trusted lender. Anthony’s real estate investing journey started when he realized he needed to gain control of his money. After his first flip, a live in flip on the house he and his wife had just bought, he knew flipping was something he could do for profit. From there he found his first partner, one of his co-workers, and began to flip even more houses. The second partner he found rejected him at first, even though his online profile (with no profile picture) was pretty much anonymous. Despite this, Anthony was drawn to this mystery partner and his alleged “400 flips” so he flew out to meet this so-called legend and was pleasantly surprised when he was exactly who he said he was. Anthony could have stopped there but he decided to tap into a new source of income; lending. It started with him asking his neighbor what he did for a living and now he’s the top-rated lender on BiggerPockets. The ability to create value and persist has allowed Anthony to become not only a great real estate investor but an amazing entrepreneur. In This Episode We Cover VA loans and why they’re powerful home buying tools How to navigate partnerships and find the right partnership structure for both parties Promissory notes and the importance of having legitimate legal documents in place How to establish a strong partnership foundation in the beginning How to bounce back from losing money and prevent it from happening again Hard money loans and why you shouldn’t automatically write them off And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group BiggerPockets Podcast Ashley Wilson's Instagram BiggerPockets Radio Podcast 001: Building a Successful House Flipping Business and Losing Millions with Marty Boardman David Greene's Instagram Lowes The Home Depot Grant Cardone's Website BiggerPockets Check the full show notes here: https://www.biggerpockets.com/rookie147 Learn more about your ad choices. Visit megaphone.fm/adchoices

Getting fired usually isn’t a good thing. But in retrospect, it was arguably one of the best things to ever happen to Tony Robinson. Before being the internet’s poster boy for short-term rental investing, Tony Robinson spent his days working for someone else while climbing up the corporate ladder. When he unexpectedly got fired (2 days before Christmas), he had to reimagine what his life would and could look like. Tony took a chance on himself and his real estate business, a chance that has paid off massive dividends to this day. He now lives life on the schedule he wants, spending time with his wife and son, without having to worry about a boss one day letting him go. Maybe getting fired (while owning real estate) isn’t such a bad thing! Thinking of leaving your job? If so, prepare like Tony did: Have a healthy safety reserve before you decide to leave Understand the job market for your specific position and whether or not you could be rehired Use your W2 income to invest in cash-flowing assets like real estate Understand the difference between “job security” and “wealth building security” And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BiggerPockets Real Estate Investing Bootcamp BiggerPockets Podcast Check the full show notes here: https://www.biggerpockets.com/rookie146 Learn more about your ad choices. Visit megaphone.fm/adchoices

Most people describe their start in real estate investing as a thought-through process. It usually includes a tedious plan with an incredible amount of time spent gaining background knowledge—but that’s not always the case. Today’s guest, Jan Trisler, stumbled into real estate investing by accident but hasn’t been able to look back after having four successful flips, while currently working on her fifth. Now, she has hopes of getting into rental properties in the upcoming year. Jan was already in a transition period in her life as she was moving from Nebraska to Arizona as a divorcee but she decided to take it one step further and trade her 9-5 for real estate. It started with purchasing her primary residence from an auction, then later rehabbing it to realize she could do this for a profit. From there, she made the transition from rehabbing to flipping and bought two more properties from an auction. Once Jan realized that flipping was not only a sustainable source of income but something she genuinely enjoyed, she formed an LLC with her daughter and made things official. While some are hesitant to work with family, Jan and her daughter have created a great system where work is allocated fairly, their wages are paid hourly and the financial investment works perfectly for them. By taking the investing “plunge”, Jan has been able to live and finance her ideal life while doing it with the people she cares about most. In This Episode We Cover House hacking and how to get your start in real estate investing Wholesaling and whole-tailing and what that means How to make sure the job you work at matches your ideal life How to set long-term and short-term goals and how to approach them Building processes and incorporating systems that help your business prosper Outsourcing and how to train employees (even if you’ve never been a boss) And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Auction.com MLS Hours Tracker App Time Clock App Quickbooks Quickbooks Time Tracking Rookie Podcast 109: From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy Sara's Instagram Zillow Realtor Check the full show notes here: https://www.biggerpockets.com/rookie145 Learn more about your ad choices. Visit megaphone.fm/adchoices

From time to time, Ashley and Tony both have questions they need answering. And thankfully, they both host a show with a real estate investor in complementary niches. This week, Ashley is prepping to scale her short-term rental empire, so she wants to know from Tony what his six top tips for vacation rentals would be. Although Tony has only been hosting for a few years now, he has a sizable portfolio that was built fast and efficiently. He’s able to charge top dollar on his vacation rentals due to his management, rehabs, and pricing strategies. If you want to max out your vacation rental income, Tony is the guy to listen to! Here are some suggestions for Ashley: Utilize comparable data to match region-standard checkout policies, nightly pricing, and minimum stays on bookings Find the niche that you can fill and will allow your rental to stand out Do whatever you can to ensure the guest leaves a positive review on your property Communicate with guests in a systematized, timely manner And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BiggerPockets Real Estate Investing Bootcamp Airbnb Vrbo Robuilt Youtube Channel Hospitable iGMS YourPorter Check the full show notes here: https://www.biggerpockets.com/rookie144 Learn more about your ad choices. Visit megaphone.fm/adchoices

When you think about your ideal life in 5,10 or even 15 years, what do you see? When you think about your finances, what is it that you want your money to do for you? As today’s guest, Aaron Latal, so elegantly put it, when setting goals it is best to start backwards. After graduation, Aaron landed a high-paying job as an engineer and genuinely enjoyed the work he was doing, yet he felt like something was missing. Besides his job, he had nothing to fill his free time, so he turned to real estate investing. He began to read, listen to BiggerPockets and do anything he could to educate himself. Once he felt like he had a good understanding, he started his real estate journey by rehabbing the property he lived in and eventually house hacking a duplex he purchased. Shortly after that, he realized this is what he was meant to be doing. He then quit his job despite enjoying it because he knew that engineering didn’t fit the life he envisioned for himself. From there on he poured everything into real estate and wholesaling. He soon noticed that he had more of an interest in the business and process side of things so that’s what he focused on. As business picked up, he was able to outsource certain aspects of his job and focus on his strengths and what he enjoys. By working backward and understanding what he wants his life to look like in the future, Aaron is not only building his ideal life but living it. In This Episode We Cover House hacking and how to get your start in real estate investing Wholesaling and whole-tailing and what that means How to make sure the job you work at matches your ideal life How to set long-term and short-term goals and how to approach them Building processes and incorporating systems that help your business prosper Outsourcing and how to train employees (even if you’ve never been a boss) And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Alpha Geek Capital The One Thing Podio Forefront BiggerPockets Podcast 494: The Five F-Words Every Real Estate Investor Needs to Master BiggerPockets Podcast BiggerPockets Podcast 480: Making $200k a Month After Being on the Verge of Bankruptcy Scott Trench Loom Readymode CallRail Check the full show notes here: https://www.biggerpockets.com/rookie143 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Mack through Ashley's Slack channel in the Real Estate Rookie Bootcamp. Mack is asking: How can I buy an investment property without putting 20% down? Mack has the question that many real estate investors do: how to buy with low or no money down? Thankfully, the world of real estate has a plethora of financing options from low down payment conventional and FHA loans to zero percent down loans from certain providers. Granted, you do need to check a few boxes before you can get these. Here are some suggestions: Understand the main differences between FHA loans and conventional loans Use house hacking as a way to qualify for owner-occupied financing Calculate out your PMI beforehand so you know the true cost of a sub-20% percent down loan Use a HELOC on your current properties as the down payment for new ones And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Real Estate Rookie Bootcamp BiggerPockets Forums NACA Check the full show notes here: https://www.biggerpockets.com/rookie142 Learn more about your ad choices. Visit megaphone.fm/adchoices

We usually get to hear from our amazing guest speakers, but as the year comes to an end, it’s time to hear directly from our dynamic show hosts. Besides hosting rookie podcasts, Tony and Ashley are living proof of how lucrative real estate can be when done right. In this end of the year special we explore Tony and Ashley’s business goals, challenges, and motivations. While it might be hard to imagine, Tony and Ashley started exactly where everyone else did, at the beginning. Before they each had their own successful businesses, they had to develop a plan, make connections, build a strong reputation, and find the confidence and motivation to keep going even through failure. In fact, despite their current success they still have to do all these things and more. Real estate investing isn’t stagnant and in order to get to or stay on top you have to be willing to evolve, change and take risks. Tony and Ashley break today’s episode into three categories: business development, partnerships and motivation/inspiration. In each category they talk about their current and past business ventures and their big takeaways. We usually get to hear small snippets about what they’re doing and how they’re doing it, but today it’s just them and it’s something you don’t want to miss! In This Episode We Cover The BRRRR strategy and how lucrative it can be for investors The importance of constantly challenging yourself and finding something you’re passionate about The benefits of finding your niche market and becoming “known” for something Why goal setting and vision planning is essential (even if you don’t know your end goal) Building your internal team and the difference between your internal and external partners The different types of partnerships and finding the right partnership structure for you And So Much More! Links from the Show Real Estate Rookie Youtube Channel Real Estate Rookie Facebook Group Brandon Turner's Instagram The Real Estate Robinsons Youtube Channel AJ Osborne's Self Storage Conference AJ Osborne's Instagram James Dainard's Instagram Check the full show notes here: https://www.biggerpockets.com/rookie141 Learn more about your ad choices. Visit megaphone.fm/adchoices

Once again, Ashley’s DMs are open for questions! This week, Brendan direct messaged Ashley asking: I’m looking at a 10-unit property at $1.9M. The current owner only has 4/10 units rented, but banks require 75% occupancy to finance. The seller would be interested in owner financing. Where do I start? It’s good to note that no two seller financing deals are the same. Different sellers want different things out of a sale and it’s up to you, as the buyer, to find the things they really need to get the deal done. If you’re able to do that, you could get a great property under contract with little-to-no money down! Here are some suggestions for owner financing: Use PropStream or county records to see whether or not the seller has a mortgage/lien on the property Calculate how much you’d be comfortable putting down and relay that in your offer Run the numbers with current/Pro forma occupancy to see what the property could cash flow Know that (almost) everything is negotiable, don’t be scared to ask for flexible options And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BPCON2021 Propstream Check the full show notes here: https://www.biggerpockets.com/rookie140 Learn more about your ad choices. Visit megaphone.fm/adchoices

What 2022 real estate tax strategies do you have prepared? Or maybe the better question is: have you even started to plan for taxes in 2022? If you’re a real estate rookie, you probably are just dipping your toe into the wonderful world of real estate tax deductions. But, without a good bookkeeper, accountant or CPA, you could be missing thousands (if not more) in tax savings. Joining us today for our end of year tax roundup is investor, lender, and CPA Ana Klein. Ana started her real estate journey working as a public accountant, then a private accountant, and finally starting her own business. She saw the massive tax advantages her clients benefited from simply by owning rental property, so she decided to do the same. Now, Ana has a growing portfolio, complete with cash flow and depreciation to offset her income. Ana spends some time today walking through how you, a rookie or experienced investor, can benefit when investing in real estate. She also lays out the ways you can set yourself up for success with a CPA and maximize your deductible income. In This Episode We Cover How to shift from a nine-to-five mindset to an entrepreneurial spirit Converting a duplex into a triplex for only a thousand bucks What should rookies do right now to take advantage of real estate tax benefits Is it ever tax-advantaged to buy a rental property that is losing money? The good (and bad) 2022 tax code changes for real estate investors When you should contact a CPA to help with tax filing And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Brandon Turner's Instagram Grant Cardone Seminars BiggerPockets MLS InvestorGirlBritt's Instagram Stessa Quickbooks Check the full show notes here: https://www.biggerpockets.com/rookie139 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Daniel, who reached out directly to Ashley through her Instagram (@wealthfromrentals). Aside from giving Ashley some more movie quotes to use, Daniel is also asking: How do I gather local rent numbers for my rental property? Landlords can struggle when trying to price a rental appropriately, that’s why rental comparable (comps) research can be so important when looking into a new area or when shopping for properties. Both Ashley and Tony use rental comps daily, so they can calculate the right rent price in their sleep! Here are some suggestions: Look at comparable homes in your area and see what they’re renting for on top rental sites Focus on a zip code and property type, as these will be two important factors when comparing rents Use the BiggerPockets Rent Estimator to automatically find a comparable rent price Call a local property manager and ask them what your property would rent for Start an excel spreadsheet where you can easily track days-on-market and price for rentals And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Zillow Redfin Craigslist Facebook Market Place BiggerPockets Rental Estimator Check the full show notes here: https://www.biggerpockets.com/rookie138 Learn more about your ad choices. Visit megaphone.fm/adchoices

Do you ever feel out of place as an employee? The W2 route isn’t for everyone and maybe you’ve started to feel the entrepreneurial itch. So what steps do you take when it’s time to transition into working for yourself all while building wealth through real estate? After years of being in and out of the prison system, Sterling Shrout needed a change. His whole life he considered himself a “bad employee” until he finally realized he wasn’t meant to be an employee, so he turned to real estate. He began by listening to The BiggerPockets Podcast and any other educational material he could find. From there, he became hooked on the idea of creating opportunity and building capital through self-employment. Besides owning his own home, something he never thought he would do, Sterling has now closed on ten doors in less than two years! We touch on topics like overcoming self-doubt, finding a business partner, going from an employee to an entrepreneur, triple net leases, and operating agreements. If you want to begin the journey to self-employment regardless of your past, this episode is perfect for you! In This Episode We Cover Overcoming self-doubt and not letting it keep you from pursuing your dreams The importance of having the right business partner (and how to find one) Transitioning from being an employee to an entrepreneur and why you should take the leap Triple net leases and the massive advantages that come with it as a landlord How to set up an operating agreement and why they’re essential for partnerships How to build, find and maintain business relationships (even if you don’t have any yet) And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Rookie Podcast 129: 5 Properties After Spending 8 Years in Prison (With ZERO Credit!) BiggerPockets Podcast Craigslist Brandon Turner's Instagram Dayton Real Estate Estate Investors Network Facebook Group Linkedin Check the full show notes here: https://www.biggerpockets.com/rookie137 Learn more about your ad choices. Visit megaphone.fm/adchoices

If you’re wondering how to buy your first rental property, there is arguably no better place on the internet to learn than BiggerPockets. Ashley Kehr should know, she tripled her portfolio after she found the BiggerPockets forums. But, in order for Ashley to triple her portfolio, she had to make the leap and buy her first deal. Today, she’ll teach you how to do the same, so you can reach financial freedom. Ashley wasn’t born into a real estate family. She worked a nine-to-five job as an accountant, only to realize she hated it and later quit. She began working for a local investor and started learning the real estate management game. Ashley then partnered with the son of her boss, who provided her the capital to begin investing. In less than a decade, Ashley was able to reach financial freedom, retire from any possibility of a regular workweek, and spend more time with her children. Now, it’s time for you to do the same! In This Episode We Cover The six-step process to go from real estate onlooker to real estate investor How real estate can help you build long-lasting, generational wealth Why doesn’t everyone invest in real estate if it’s so great? The five mistakes that almost every real estate investor makes Running through the numbers on a live real estate deal analysis Real estate strategies for every type of rookie investor And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group BiggerPockets Bootcamp BiggerPockets Forums BiggerPockets Webinars Joshua Dorkin's Website BiggerPockets BiggerPockets MarketPlace MLS BiggerPockets Calculator BiggerPockets Podcast 348: Full-Time Job, Full-Time Mom, and Full-Time Wealth From Rentals with Ashley Kehr BiggerPockets AlreadyPro BiggerPockets Newbie Worksheet BiggerPockets Newbie Slides BiggerPockets 7 Years Realtor Sold Listings BiggerPockets Conference Check the full show notes here: https://www.biggerpockets.com/rookie136 Learn more about your ad choices. Visit megaphone.fm/adchoices

Real estate is a relationship-based business. As you establish more relationships within the industry, your job continues to get easier and today’s guest, Jay Simpson, is a prime example of that. With the help of his mentor, he has successfully flipped two houses and already turned one into a rental property. The primary reason he got into real estate was because he wanted the time to be actively part of his daughter’s life — a freedom his W-2 didn’t allow. His ability to cultivate meaningful relationships is the reason he has been able to find so much success as a real estate agent and investor. Jay heavily emphasizes the role his mentor plays in his real estate career, especially given that when he was new to the industry, he needed someone to show him what the classroom couldn’t. His genuine nature got him his first sale, his first flip, and a continued relationship with his lenders. Real estate has allowed him to not only free up his time but enjoy the time he has freed up, which to a family man like himself, is the dream. Investing is about more than building wealth, it’s about learning the value of time, especially because you can never get it back. In This Episode We Cover Getting your real estate license and how it can be the first step to investing Working for a broker and what that means for your career as an agent House flipping and the signs that indicate a great potential flip How to estimate rehab costs as a first timer The importance of a detailed scope of work and its benefits The importance of being genuine and authentic with everyone you encounter And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Rookie Podcast 55: Combining House Hacking and Live in Flips with Tyler Madden BiggerPockets Podcast Zillow Lowe's 16Personalities Tony Robbins Website BiggerPockets Bookstore MLS Apartments.com Cozy Buildium rentredi appfolio BiggerPockets Forums BiggerPockets Conference Check the full show notes here: https://www.biggerpockets.com/rookie135 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Neil on the Real Estate Rookie Facebook Group. Neil is asking: I’m reading a book on financing strategies — if a loan is amortized over thirty years, how is there a balloon payment at fifteen years? What’s the difference between the two? Most real estate investors don’t run into things like balloon payments until they’ve started taking loans from private lenders or use seller financing. Balloon payments allow investors the chance to refinance earlier or pay off a loan in its entirety while also giving a seller or lender the cash they want. Considering a balloon loan? Here’s what to know: A loan is amortized over a set amount of years and interest is usually paid before principal Balloon payments force the lendee/investor to pay back the unpaid loan amount at a certain year mark Refinancing, paying off a property, or selling a property are ways to fund a balloon payment Balloon payments force investors to think further in the future for better exit strategies And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Check the full show notes here: https://www.biggerpockets.com/rookie134 Learn more about your ad choices. Visit megaphone.fm/adchoices

What if you knew you could be fresh out of college and already owning property? Why wait for a “stable career” to start building wealth when you can dive into real estate investing, whether that be in or out-of-state? Would you start looking into investing earlier if you knew it was without age limitation? Today’s guest Karina Mejia, a 24-year-old investor, goes over her house hacking journey that helped her go from a server to a landlord. From managing tenants to investing in out-of-state properties, Karina walks through the mindset of investing from a very early age, without the emotional support of those around her. We touch on topics like house hacking, the BRRRR strategy, investing with a romantic partner, out-of-state investing, and financing your first deal. If you’re a first-time investor or college student, this episode is perfect for you. In This Episode We Cover What to do with an unruly tenant while house hacking How to invest with a romantic partner to ensure asset protection for the both of you Investing fresh out of college even if you have no experience in real estate Successfully investing without the support of those around you How to build a lease for your house hacks so tenants have a positive experience Finding the best out-of-state market for your investing strategy How to passively invest and outsource work to maximize time value And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Rookie Podcast 125: Using OnlyFans to Fund Ownership in Her First BRRRR w/ Brin Amberlee BiggerPockets Podcast BiggerPockets Forums Experian Microsoft Excel MLS Check the full show notes here: https://www.biggerpockets.com/rookie133 Learn more about your ad choices. Visit megaphone.fm/adchoices

We often hear entrepreneurs talk about how they want to “be the best” in their field. It’s the same with many real estate investors. They want to be the best wholesaler, flipper, short-term rental host, or landlord. But, does “being the best” really matter much to your customer if they can’t tell the difference between you and your competition? Probably not. Mike Michalowicz, author of Profit First, is on the show today to discuss his new book, Get Different, and why so many entrepreneurs and real estate investors have marketing all wrong. If you’ve ever tried direct mail, cold calling, or door knocking, you know the sting of quick rejection from a potential seller. Why do they reject so quickly? Because you sound just like every other real estate marketer trying to get to them. If you’re looking to entice new partners, private lenders, tenants, employees, or sellers, you need to start marketing differently. This is possible through Mike’s “D.A.D Framework” that highlights the three most important factors of marketing successfully to a prospect. In This Episode We Cover Why real estate investors need marketing more than they think Finding your competitive advantage and using it to outsmart other investors Why having a high-referral rate doesn’t mean you're succeeding at marketing Who, what, and ‘win’ to target and market to partners, private lenders, and sellers The “D.A.D Framework” and how you can capitalize on it to score leads Asking customers “what am I doing right” and making it a crucial part of your brand And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Zillow Facebook Geek Squad Check the full show notes here: https://www.biggerpockets.com/rookie132 Learn more about your ad choices. Visit megaphone.fm/adchoices

The more “traditional path” encourages a lot of waiting: waiting to get into the right school, waiting to get the right degree, the right internship, and the right job, but what about the right now? As every current and aspiring entrepreneur knows, time is money so capitalizing on the right now is essential. How do you do that? Real estate investing! Today’s guest, Rachel Morrow, knew the importance of capitalizing on the right now. At merely 20 years old she was on her way to med school when she realized she wanted to start building wealth. During her warehouse shifts, she began listening to real estate podcasts and recognized real estate was not only something she wanted to do but something she could do. This led to a big transition period in her life from the path she had always known to the path less traveled, but once she made that mindset shift, that was it. The change didn’t happen instantaneously. She had to completely start anew and work towards her goals which at one point meant working 60 hours a week for a year to get pre-approved for a loan. Her drive and persistence allowed her to close on 4 units with hopes of closing on more single-family homes in the future. We touch on topics like creating value, breaking from the “traditional” path, self-managing a house hack, finding a mentor, and being a young investor. In This Episode We Cover Breaking from the “traditional” path and finding what best suits you Building wealth without prior experience in real estate How to successfully self-manage a house hack Using your youth as an advantage when investing in real estate Getting pre-approved for a loan without high income or long work experience How to find the right mentor (especially as a newbie) And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Steve Rozenberg Events The Real Estate Guys Real Estate Rookie Podcast Graham Stephan's Youtube Channel MLS Zillow Brandon Turner Rentredi Rookie Podcast 102: $10M Profit On Her First Deal?! It’s Possible with Campground Investing Apartments BiggerPockets Forums Check the full show notes here: https://www.biggerpockets.com/rookie131 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Rob on the Real Estate Rookie Facebook Group. Rob is asking: How do I make sure a wholesaler that is sending me deals is not a scam? With wholesaling, as with any other sector of real estate, you’re always going to have your good and bad actors. Many wholesalers are running professional businesses, but some are simply inexperienced, while others have malicious intent. Here are some suggestions on weeding out wholesalers: Have your attorney look over the assignment contract to ensure it’s legal If a wholesaler ever asks you to send funds directly to them, they’re probably not legit Know your numbers, so any suspiciously good (or bad) deals can be written off Contact wholesalers on your own so you can do due diligence upfront And more in the episode… 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). Check the full show notes here: http://www.biggerpockets.com/rookie130 Learn more about your ad choices. Visit megaphone.fm/adchoices

What if you treated the lowest point in your life as a beginning instead of an end? What if you were told real estate investing could be the second chance you’re looking for? Why give up when you could level up? Today’s guest, Jason Peterson, took back control of his life by doing exactly that. Instead of giving into adversity and strife, Jason found a way to turn his life around, through real estate investing. After eight years of incarceration, Jason went from a zero credit score to buying his first property a year and a half after his release. Now, he has acquired five properties and is on the path to becoming financially free. He did all this with the help of his mentor, support from his loved ones, and the education he received in a sandwich shop. So, what’s stopping you? We touch on topics like overcoming adversity, finding a mentor, seller credits, building credit, and how to invest with little capital. If you’re at a breaking point or need the motivation to keep going in the real estate investing game, this episode is perfect for you! In This Episode We Cover Overcoming adversity and not letting your past define your future Investing and buying properties with little capital or credit How the use of a mentor can help elevate your knowledge The risk involved in house hacking or investing and why it’s ultimately worth it The use of seller credits and how to get creative with your financing How to build the credit you need to invest (even if you’re starting from zero!) The time-tested buy and hold method and its advantages for rookie investors And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Rookie Podcast 109: From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy BiggerPockets Podcast Real Estate Rookie Podcast MLS Craigslist BiggerPockets Rentredi QuickBooks Check the full show notes here: https://www.biggerpockets.com/rookie129 Learn more about your ad choices. Visit megaphone.fm/adchoices

Ashley and Tony have been on a tear this year, buying up more homes than ever before. They’ve also been branching out into bigger commercial deals, like RV parks, campgrounds, hotels, motels, and more. While every real estate rookie knows the thrill of finding a new deal, many don’t understand the struggles that go with it. Today, Ashley and Tony walk through the biggest hurdles they’ve been facing when trying to chase bigger, better deals. One of the biggest struggles when getting into a larger real estate class is financing. You’ll hear how the hosts individually dealt with difficult financing challenges, from subject to financing to raising money and syndicating. 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Vrbo Airbnb BiggerPockets BiggerPockets Podcast 527: 300 Doors, 100% Creative Financing with Pace Morby Check the full show notes here: https://www.biggerpockets.com/rookie128 Learn more about your ad choices. Visit megaphone.fm/adchoices

Military members in the real estate community love to preach about how great the VA loans are for financing primary residences. They also love the fact that these primary residences can be turned into rentals, quite easily, when the military decides to station you elsewhere. This is exactly how Angel Garcia got his start; accidentally investing in real estate, all while stationed overseas. Angel bought his first house as a way to ensure financial security for his wife and daughter, but when he was re-stationed, he decided to give landlording a go. He bought another primary residence, but once again, was forced to move, leaving him with two rental properties. He started to notice the cash flow coming in, and with some help from David Green’s Book Long-Distance Real Estate Investing, he made the jump to invest out-of-state. He made an offer on the perfect property, a $55,000 duplex, but when his inspector wouldn’t even enter the house, he knew he may have made a mistake. This home had $40,000 in foundation damage that needed to be repaired, turning his small investment into a cash-heavy burden. Through perseverance and the ability to learn from past mistakes, Angel was able to make this rental cash flow a respectable amount and it allowed him to get even further along the path to financial freedom. In This Episode We Cover Opening yourself up to investing, even if you were raised without an investor’s mentality Using rental property investing as a way to secure generational wealth for your family Utilizing VA loans to get 0% down financing on your primary residence Why you need to be careful you don’t talk yourself out of a deal Why you should always “do something” even if you can’t buy a property yet Recovering from a $40,000 surprise when rehabbing a property How to help those around you even if they don’t seem interested in learning And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group BiggerPockets Podcast Brandon Turner Joshua Dorkin Youtube David Greene Zillow Realtor BiggerPockets Calculator BiggerPockets Forums Check the full show notes here: https://www.biggerpockets.com/rookie127 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week is less of a Rookie Reply, and more of a “Rookie Ramble” as Ashley likes to call it, as Tony and Ashley ask each other questions about their road to full-time investor status. They talk about first jobs, best degrees for real estate investing, the industries they chose to go into after college, and the skills they wish they had learned earlier. Both Tony and Ashley didn’t have the end goal of investing in real estate upon graduation, but they made smart choices in their W2 careers that allowed them to go full-time when the opportunity presented itself. If you’re young or even just starting out on this real estate journey, ask yourself, “what skills do I need to develop to succeed at this?” 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BiggerPockets Podcast Rookie Podcast 118: Stop Scrolling, Start Posting: Social Media for Real Estate Investors BiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash Coming Check the full show notes here: https://www.biggerpockets.com/rookie126 Learn more about your ad choices. Visit megaphone.fm/adchoices

You could say that Brin Amberlee isn’t a traditional real estate investor. She doesn’t have tons of experience with property management, construction, or investing, but she does have the will to succeed. After buying her primary residence in Las Vegas, Brin was prompted by friends to start listening to The BiggerPockets Podcast, where she learned about the mind-blowing BRRRR strategy. Brin's funding source for the deal? Her OnlyFans business! Hailing from Columbus, Ohio, she knew that investing in her hometown would be a perfect place to practice her first BRRRR, turning an old house into an instagramable short-term rental. With help from her father, she is personally taking the time to demo, rehab, and design this property, top to bottom. Brin touches on everything from finding an investor-friendly agent, to viewing properties, analyzing deals, getting financing, growing your personal brand, and more. She has some big plans to buy even more short-term rentals after this first BRRRR, and we doubt we won’t see her back on The Real Estate Rookie podcast very soon, with a lot more units to her name! In This Episode We Cover Resisting lifestyle creep so you can use extra money to invest Why your first BRRRR doesn’t need to be perfect Surrounding yourself with those who achieve greatness and distancing from those who don’t Vacation home mortgages vs. conventional mortgages on short-term rentals Building your brand on social media and beyond The importance of keeping healthy reserves in case a rehab goes over budget And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group MLS Airbnb BiggerPockets Rookie Podcast 123: ‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects OnlyFans Grant Cardone BiggerPockets Forums Zillow BiggerPockets Calculator Instagram Tiktok BiggerPockets Rent Estimator Investor Girl Britt Check the full show notes here: https://www.biggerpockets.com/rookie125 Learn more about your ad choices. Visit megaphone.fm/adchoices

We’d all like to imagine that Ashley Kehr and Tony Robinson are perfect investors. They do perfect deals, have a perfect team, and everything runs smoothly in their lives. While they are two phenomenal investors, they still face the challenges that most entrepreneurs and real estate investors also face off-camera. From shiny object syndrome to letting go of the entrepreneurial reigns, Tony and Ashley squeeze in a lot into this Rookie Reply. If you feel like you’ve been getting bored on your journey or simply are too anxious to take the next step, remember that Tony and Ashley have felt the same way. 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Airbnb Alpha Geek Capital BiggerPockets Rookie Bootcamp BiggerPockets Rookie Episode 125 Check the full show notes here: https://www.biggerpockets.com/rookie124 Learn more about your ad choices. Visit megaphone.fm/adchoices

New construction is an enigma to many real estate investors, and especially to rookies. When building a new house, you need to understand engineering, permitting, construction, and a more complicated funding structure. This didn’t stop Donovan Adesoro, house hacker turned home builder from keeping the investment train going. Although Donovan had a background in engineering, he didn’t have much experience with building homes. He started off buying a duplex property to house hack, which turned out so well that he wanted to buy another. The problem? Not enough cash to make the down payment. So he wondered, “what would it cost if I built one of these?” Donovan discovered that he was able to use raw land as a down payment for a new construction loan. So if he had enough to buy the land, he had enough to build the whole house! Now, at only twenty-four years old, Donovan has twelve lots either ready for a new build, partially through construction, or about to be sold. He’s taken advantage of the huge appreciation we’ve seen in the past two years and makes it clear that even if you don’t have money, you don’t have to give up on a deal. In This Episode We Cover The many costs that go into developing a new construction home Engineering, permitting, contracting, and other key parts of home building Using partners to cover costs when you aren’t able to come up with enough cash House hacking as a way to get your start in real estate investing Always having multiple different exit strategies so you come out profitable Renting your car for extra cash and passive income And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group BiggerPockets Podcast Roomies BiggerPockets Calculator Law Depot Turo Outdoorsy MLS Airbnb Zelle Cash App BiggerPockets Lease Agreements Check the full show notes here: https://www.biggerpockets.com/rookie123 Learn more about your ad choices. Visit megaphone.fm/adchoices

Five short years ago, Avery Carl didn’t own ninety-six rental units. She didn’t have her real estate license, she hadn’t founded The Short Term Shop or The Mortgage Shop, and she did not have a book written on short-term rental investing. But now, Avery has all those things, and she did all of them in only half a decade. Avery’s first venture into real estate started by her saving up every penny she could to buy a property in Nashville. After some success, she asked, “what’s the most bang for my buck in real estate?” The answer: short-term rentals. Seven of her units alone brought in over six figures in just July, proving her point that vacation rentals are a necessary part of any investor's asset collection. Now, she manages her own short-term rentals and long-term rentals, she also helps teach others how they too can start investing in short-term rentals and even goes as far as to help them to get financing. All of this was done in a very short time period, and all of it proves that hard work can fuel financial freedom through real estate investing. Click here to listen on Apple Podcasts. In This Episode We Cover What to look for in a short-term rental or vacation rental market Why short-term rentals are far more active investing than long-term rentals Staying up to date on your city’s short-term rental laws and regulations The software and systems Avery uses to analyze a deal 1031 exchanges and using them to massively grow your portfolio (tax-free!) Getting out of the fear of overpaying for a property through detailed analysis And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group BiggerPockets Podcast BiggerPockets Forums BiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery Carl The Short Term Shop The Mortgage Shop Airbnb VRBO Alpha Geek Capital Alpha Geek Capital Calculator Your Porter iGMS Smartbnb Airdna PriceLabs BiggerPockets Publishing Check the full show notes here: https://www.biggerpockets.com/rookie122 Learn more about your ad choices. Visit megaphone.fm/adchoices

Marching along Bourbon Street last week was a parade with some of the best real estate investors in the world, celebrating another successful BPCon, ready to take on the world. Throughout the past week, attendees of the conference heard from world-class business leaders, investors, and authors, learning about everything from running a business to short-term rental markets, to self-storage, and more. On this live episode, your hosts, Ashley Kehr and Tony Robinson, are joined by Brandon Turner and David Greene, hosts of the BiggerPockets Podcast, Scott Trench, host of the BiggerPockets Money Podcast, and Liz Faircloth and Andresa Guidelli, hosts of The Real Estate InvestHER Podcast, plus special guest Esther, who has a widely impressive portfolio herself. You’ll hear the hosts talk about topics like how to connect with fellow investors, future trends influencing the real estate market, what’s working today (and what isn’t), plus a live version of the Famous Four and Fire Round. If you weren’t able to make it to this year's BPCon, plug into this episode and get on the waiting list for next year! In This Episode We Cover What’s ‘firing up’ the hosts of the BiggerPockets Podcast Network? What investors can do in today’s market to ensure wealth tomorrow Future trends that allow investors to profitably pivot How BPCon helps connect investors, reshape ideas, and build wealth How to vet partners before you go in on a deal with them The top characteristics that contribute to your success as an investor Why you should definitely be at BPCon 2022 And So Much More! Links from the Show NPR (National Public Radio) Kevin Leahy's BiggerPockets Profile Mark Ferguson's InvestFourMore Wendy Papasan's LinkedIn Profile Noah Evans's LinkedIn Profile Rickey Rodriguez's BiggerPockets Profile Your First Real Estate Investment Podcast: How to Recover from the Great Recession and Leverage Creative Financing to Fund Your First Deal Joe Asamoah's BiggerPockets Author Profile AJ Osborne's Personal Website Steve Rozenberg's BiggerPockets Profile InvestHer's Partnership Question Guide Meetup Hal Elrod's Personal Website Dave Ramsey's Personal Website Cashflow The Board Game Matt Faircloth's BiggerPockets Author Profile BiggerPockets Calculators The Real Estate InvestHER Community Connect with the BiggerPockets Hosts: BiggerPockets Real Estate Podcast Listen to the BiggerPockets Podcast Brandon's BiggerPockets Profile David's BiggerPockets Profile BiggerPockets Money Podcast Listen to the BiggerPockets Money Podcast Scott's BiggerPockets Profile Mindy's BiggerPockets Profile Real Estate Rookie Podcast Listen to the Real Estate Rookie Podcast Tony's BiggerPockets Profile Ashley's BiggerPockets Profile InvestHER Podcast Listen to the Real Estate InvestHER Podcast Andresa's BiggerPockets profile Liz's BiggerPockets profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Tony Robinson has some great ideas, like creating a short-term rental empire in both Joshua Tree, California, and the Smoky Mountains over in Tennessee. Tony talked so highly of the latter investing region, that today’s guest, Cale Delaney decided to pack his whole family into the minivan and make the 10+ hour drive to check out the area. Shortly after, Cale was under contract for not one, not two, but three cabins! This wasn't Cale’s first experience with real estate investing. Back at the beginning of 2020, Cale had a mental shift where he realized that real estate could be the key to setting him financially free. He scoured homes all over his area of Florida until he came across a fourplex which rejected one offer from him but later accepted another. He made three of these units long-term rentals, and the other one a short-term rental. Cale went from zero to ten units in only a year and a half or so, without a ton of management experience of extravagant funding. If he can do it, you can too! In This Episode We Cover How to get your first property under contract, even if you keep getting rejected Managing locally before stepping into long-distance investing How a quick closing can lead to more deals in your pipeline Getting off-market properties under contract even in a competitive area Financing real estate investments using conventional loans, HELOCs, and more Scheduling time now to plan for freedom tomorrow And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Airbnb Google Maps Zillow MLS BiggerPockets Podcast Hospitable PriceLabs Stessa Quickbooks RUBS Host Financial Visio Lending LendSimpli Rookie Podcast 51: 18 Deals in 2 Years AND a Full Time Job with Kevin Christensen BiggerPockets Forums Facebook Marketplace Craigslist Check the full show notes here: https://www.biggerpockets.com/rookie121 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Vince on the Real Estate Rookie Facebook Group. Vince is asking: After a 1031 exchange, can I refi/cash-out most of the funds and use it to purchase other property? Will I still be liable for taxes? While neither Tony or Ashley are tax specialists, they have had some experience in the past with 1031 exchanges. Firstly, make sure you understand the rules of a 1031 exchange and use an intermediary to perform one, after that you may be in the clear to refinance! Here are some suggestions: Use the entirety of your 1031 profits to purchase (or subsidize) a new property to limit taxes Harness the power of appreciation to “swap til you drop” Use the same entity to 1031 exchange your property and hold it for at least two years Use a trusted intermediary to complete the exchange And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Check the full show notes here: https://www.biggerpockets.com/rookie120 Learn more about your ad choices. Visit megaphone.fm/adchoices

Susan Reehill has defied the odds time and time again. She was a teenage mother, having her first son at the young age of sixteen. For most young and single mothers, the chance of becoming a homeowner, let alone an investor is slim, to say the least. At forty-two years old, Susan decided to make two big jumps in her life and career: graduate from college and buy her first home. She succeeded at accomplishing both. As the years passed by, Susan wanted to be a closer distance to her local downtown area. So, she decided to look at buying a new home. When her old home was having a hard time selling, she decided to try and rent it out, which she did with very little property management knowledge or landlording skills. Her tenant brought in ten different individuals to live with her, half of which weren’t authorized on the lease. In only six months, her tenant did more damage to her house than Susan had done in the several years she lived there. But, this didn’t stop Susan’s will to create long-lasting wealth. She began listening to more real estate podcasts, one of which was the Real Estate Rookie podcast. She ended up joining Ashley’s first round of the Real Estate Rookie Bootcamp, where after 90 days Susan was able to score a phenomenal deal, over $100k+ under the asking price! In This Episode We Cover Breaking through the societal norms of who you’re supposed to be at a certain age Becoming an “accidental landlord” and what everyone should know before they rent their home Making it known that you’re an investor who is actively looking for good deals Why a deal is still a deal even if you have to pay PMI (private mortgage insurance) Finding contractors through meetups, fellow investors, and Facebook groups Why you don’t need to be rich to start investing in real estate And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Real Estate Rookie Bootcamp Rookie Podcast 109: From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy Investor Girl Britt's Instagram BiggerPockets Check the full show notes here: https://www.biggerpockets.com/rookie119 Learn more about your ad choices. Visit megaphone.fm/adchoices

Social media investors are becoming the new normal. Whether you’re on Instagram, Facebook, TikTok, Clubhouse, or Twitter you can find successful entrepreneurs giving tips on real estate, stock trading, or investing in general. So, as an aspiring real estate investor, it would only make sense for you to use these platforms to lock down more deals, find more partners, and maybe even entice some private investors. Katie Brinkley from Next Step Social Communications is a master of optimizing social media posts for her clients. As a real estate investor herself, she understands why it’s so crucial to not only post consistently, but with the highest possible quality content. She also encourages investors on social media to start engaging with their customers, allowing relationships to grow organically. Even if you’re just getting started in real estate investing or if you haven’t even got a deal under your belt, it can be a phenomenal future-proofing strategy to get your social media profile started now! In This Episode We Cover The benefit of using social media as an investor What platforms work best for real estate and which to avoid Planning out a content strategy for maximum engagement with your followers How to automate your posts, interactions, and more The rise of video-only platforms like TikTok and who should use them Sharing your struggles, wins, and client stories with the world And So Much More! Links from the show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Myspace Linkedin Facebook Twitter Clubhouse Instagram Loomly Tiktok Gary Vaynerchuk's Website InShOt Check the full show notes here: https://www.biggerpockets.com/rookie118 Learn more about your ad choices. Visit megaphone.fm/adchoices

Amanda Bolan, like many of us, had a “pressure cooker” moment where she realized that becoming a real estate tycoon was part of her future. At the time, she was working in the oil and gas industry without real estate investing experience. She took a leap of faith and decided to flip her first house in 2018, then flip another in 2019, then buy a 12-unit apartment in 2020, and another in 2021. Did we mention she was buying a 61-acre land development deal in between these time periods? While Amanda was searching for rentals she saw more and more expensive multifamily deals come up. At first, she had “sticker shock”, but ran the numbers and realized that a good deal in real estate is a good deal for her, no matter the price. She got to work underwriting, financing, and partnering to close on this seven-figure property. Even with some hiccups along the way (financing falling through, environmental flags going off), she was able to close on the deal and became a commercial real estate owner. Part of her fearlessness in taking on these big, and often unconventional deals is looking at what could go right, not just what could go wrong. Instead of being stuck in analysis paralysis, Amanda made moves to secure properties that would scare rookie investors and made them her own. In This Episode We Cover Buying a large multifamily property as your first rental What to do when financing falls through at the last moment Running the numbers before you run away from a potential deal Learning to self-manage at scale without any experience Buying farmland and holding land for future development Pushing past fear and making large deals work in your favor And So Much More! Links from the show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Rookie Facebook Group Buildium Check the full show notes here: https://www.biggerpockets.com/rookie117 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Mel on the Real Estate Rookie Facebook Group. Mel is asking: When working with agents, do your agents help in finding off-market deals, or do you mainly look for those as they send you on-market deals? While it isn’t uncommon for agents to have “pocket listings” (pre-market listings), most agents deal solely with on-market deals, working with buyers and sellers based on MLS listings. If you’re looking to find more off-market deals, you may have to incorporate some deal hunting strategies like driving for dollars, sending out direct mail, cold-calling, and door-knocking. Here are some suggestions: Look for investor-friendly agents who can bring “pocket listings” to you Even if you find your own deals, agents can help draft up purchasing documents Find agents who may have new construction contacts that can bring you pre-market offerings Ask buyers to split commission payments or offer to pay in full to sweeten the deal And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BPCON2021 MLS Check the full show notes here: https://www.biggerpockets.com/rookie116 Learn more about your ad choices. Visit megaphone.fm/adchoices

What if you could own rental properties without the responsibility of landlording? Not only that, what if you were paid a hefty, non-refundable deposit for your home, minimizing your risk? Would you start investing under these circumstances? If you like the sound of that, you’ll love the rent-to-own strategy, or as Today’s guest Jessica likes to call her framework, the BRRTOR (Buy, Rehab, Rent-to-Own, Repeat). Most landlords won’t offer rent-to-own to their tenants, not because they don’t want to, but because they don’t know it’s a possibility. This type of seller financing is what Jessica’s entire portfolio is built off of, and it has some major benefits for not only the landlord but the tenant. Jessica also gives some great advice in our mindset segment, specifically relaying that a big part of real estate is making mistakes. Jessica has had some great deals in her real estate investing career, but not every one of them has turned out to be a superstar. The big takeaway for investors should be to start, make mistakes, learn from them, and do better! In This Episode We Cover Combining the BRRRR strategy and the rent-to-own strategy How to vet tenants to find the best candidates for seller financing The importance of putting ownership in the hands of a tenant Finding homes that will profit in this highly competitive market What to look out for when interviewing hard money lenders Understanding that the first deal probably won’t be a home run And So Much More! Links from the Show Real Estate Rookie Podcast Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group BPCON2021 Facebook Craigslist MLS Zillow Check the full show notes here: https://www.biggerpockets.com/rookie115 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Roosevelt on the Real Estate Rookie Facebook Group. Roosevelt is asking: I’m currently preapproved with one lender but another lender has a loan option my current one isn't offering. Can you be preapproved with multiple lenders at once? And are there any issues I could run into with this? It’s commonplace in the real estate investing world to be preapproved by multiple lenders, that way, you’re never stuck without an option to finance a deal. Many investors also opt to use a mortgage broker that can help shop for loans on your behalf. If you’re worried about your credit score dropping because of preapprovals, try to apply for your loan applications within thirty days so credit bureaus count the multiple hard credit pulls as a singular instance. Here are some suggestions: Get preapproval from multiple banks (small, local, national, etc.) Apply within the same thirty day period to minimize effects on your credit Use a mortgage broker to save time when applying for loans Ask what the lender has to offer, they may have custom loans for investors And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Airbnb BiggerPockets Calculator Check the full show notes here: https://www.biggerpockets.com/rookie114 Learn more about your ad choices. Visit megaphone.fm/adchoices

When you get started in real estate investing, you often don’t know what you’re doing. Is this deal going to work out? Am I choosing the right materials for my flip or BRRRR? Will this appraise at what I need it to? All these types of questions can flow through a rookie investor’s mind in the first months or even years of investing. But, if you’re making the right progress and doing what needs to be done, you’re probably miles ahead of the competition. Today we talk to Brian Davila, a real estate investor and coach who helps his students answer the same questions like the ones above. Brian has identified the six key traits of a successful real estate investor. You may have been born with some of these, but almost every real estate investor needs to make a conscious effort to become a master of all six. If you’re able to capitalize on the advice from Brian, you’ll score more deals, connect with more investors, raise more money, and maybe make an extra few hundred thousand dollars a year! In This Episode We Cover Why every investor needs to take calculated risks frequently Becoming a problem solver so you can get deals others will pass up Using resources like BiggerPockets and Facebook Groups to find deals Choosing the activities that will set you closer to your goal Having faith even when you’re low on energy (or money) Building relationships and developing basic sales skills And So Much More! Links from the Show Real Estate Rookie Podcast Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group BPCON2021 BiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan Pineda BiggerPockets Google Yelp BiggerPockets Forums BiggerPockets Calculator Podio Rookie Podcast 91: 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @Liliinvests MLS Check the full show notes here: https://biggerpockets.com/rookie113 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Scott (@hotdads1) through Tony’s direct messages on Instagram! Scott is asking: How are expensive properties profitable? Is it a mindset shift to buy expensive properties, or should I look in cheaper areas? Should I purchase in a quickly appreciating market? This is a very 2021-type question. We’ve seen numerous markets around the United States (and the world) see massive appreciation over the past year and a half. Now, real estate investors wonder if it’s even worth pursuing deals on the market. Although prices may be higher than they were before, you still have numerous options when trying to purchase a profitable rental property. Here are some suggestions: Price becomes irrelevant when looking at cash on cash return and true cash flow Look at creative financing solutions (like FHA loans) to close on a home with low money down Calculate your numbers for the long term to get rid of any short-term price dropping fears Stop looking at past prices and ask: “Is it a good deal today?” And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel Scot Morris's Instagram Rookie Podcast 109: From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy Check the full show notes here: https://biggerpockets.com/rookie112 Learn more about your ad choices. Visit megaphone.fm/adchoices

Purchasing one rental property is an accomplishment in itself, but what about purchasing 26 units in your first year of real estate investing? Not many do it, but someone who has is Amelia McGee. Amelia didn’t have any formal training on real estate investing. She wasn’t a broker, an agent, or a contractor; none of her family invested in real estate either. You could say that Amelia had to take a ‘’leap of faith” to begin her real estate investing career, a leap that has paid off quickly. Amelia had exhausted much of her funds after investing in her first deals, but through leveraging her social media she was able to find partners who funded the down payment for an 11-unit apartment complex. She received equity for her hard work and her financers received equity for their risk, a true win-win! Now, Amelia is helping others purchase their first deals by TA-ing for Ashley during BiggerPockets Rookie Boot Camp. If you weren’t able to get in on the Bootcamp this time, fill out this form to be notified when sessions open up next! In This Episode We Cover How to acquire deal #1 without any background in real estate investing The best resources rookies can use to get a home-run deal on their first try Partnering with family to flip or a BRRRR a property Why local banks may be an underappreciated way to affordably finance your deals Using social media as a way to generate property leads, partnerships, and more The systems and software you need to scale FAST as a rookie And So Much More! Links from the Show Real Estate Rookie Podcast Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Rookie Bootcamp David Greene BiggerPockets Podcast BiggerPockets Podcast 476: Using Partners to Scale & Killing it With Airbnbs w/ Tony J Robinson Apartments.com Stessa Monday.com Instagram Iowa Courts biggerpockets.com/forums Check the full show notes here: https://biggerpockets.com/rookie111 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Rhett on the Real Estate Rookie Facebook Group. Rhett is asking: How do you inform an inherited tenant of changes in ownership after you close on a property? When you inherit a tenant, you often inherit a lease as well, so it’s important to know exactly what the tenant is paying for rent, their security deposit, and their lease terms during your due diligence period. If you want to notify your new tenants of an ownership change, make sure you do so professionally, so they reach out to you on your business phone, during the hours you’ve set availability at. Here are some suggestions from Ashley: Send an estoppel agreement to the tenants so you can verify the lease Give your new tenants a welcome package with all the needed information Check your local laws about rent increase timelines Prepare for the potential of vacancy in case a tenant disagrees with the rent change/ownership change And more in the episode… 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BPCON2021 Check the full show notes here: https://www.biggerpockets.com/rookie110 Learn more about your ad choices. Visit megaphone.fm/adchoices

Nick Cooley was driving through Texas as part of his medical device sales job. At the time, he didn’t have much money on him. He pulled over to fill up his company car with gas, scraped every nickel and dime from the seats and cup holders, and came up with just over one dollar in change. This was Nick’s meal budget for the night. He settled on an ice cream sandwich before getting ready to spend another night in his car. This was a position Nick never wanted to be in again. He knew what it was like to be broke and borderline starving due to financial scarcity. Nick then decided it was time to jump into real estate investing and make a change for the better. As Nick made more money, he saved up everything he could to start buying primary residences, only to rent them out a year later using his coined “nomad strategy”. He’s done this multiple times and has been lucky to buy all of them in the growing Denver market. That being said, this wasn’t a completely smooth transition. Nick had a property that put a $50,000 hole in his pocket right after closing. If you stick around for his story, you too will be able to avoid this type of mistake in the future! In This Episode We Cover Developing your “why” behind investing in real estate The “Nomad” strategy for buying a new primary residence every year Wholesaling a $2M, 8-unit property as his first wholesale deal How to get your partner on the real estate investing train Finding deals in expensive, competitive markets like Denver, Colorado Whether or not investors should become real estate agents Losing $50k on a bad deal, but creatively making a profit from it And So Much More! Links from the Show Real Estate Rookie Podcast Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram BPCON2021 Rookie Bootcamp BiggerPockets Podcast MLS Real Estate Rookie Facebook Group Rookie Podcast 81: David Greene on Where Rookies Go Wrong When Looking for an Agent Facebook Marketplace Airbnb Brandon Turner's Instagram BlackRock Check the full show notes here: https://biggerpockets.com/rookie109 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Steven on the Real Estate Rookie Facebook Group. Steven is asking: I’m about to try to make an offer on a house but the property is on market, so I’m talking with the agent. When I make the offer, is there any official document I need to submit, or do I just give them the price I want to offer? Many rookies have this question, especially when trying to purchase their first rental property. You have a few options when trying to make an offer, and they will differ based on whether the property is on market, off-market, commercial, or residential. Here are some suggestions: Call the listing agent and ask if they will represent you (this is called a dual agent) If a listing agent can’t represent you, ask if anyone on their team can You don’t need to submit any documents, just tell your agent your offer and they’ll take it from there If you’re working on an off-market deal, you may be able to negotiate directly with the seller and sign a purchase agreement For bigger properties and commercial properties, you can submit an LOI (letter of intent) 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). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BPCON2021 Rookie Podcast 98: Rookie Reply: Lessons Learned from Our First Real Estate Deals MLS Check the full show notes here: https://biggerpockets.com/rookie108 Learn more about your ad choices. Visit megaphone.fm/adchoices

We have lots of fun phrases in the real estate community, phrases like house hacking, live in flipping, and BRRRRing. Now, we may have one new phrase to add...land hacking. Kai Andrew describes land hacking as extracting as many income streams as possible from one piece of property. That means having the main house for long-term rentals, a small ADU for short-term rentals, a glamping tent in the back, and potentially some farmland being rented out as well. Only someone as creative as Kai could come up with this sort of strategy. In fact, Kai started out house hacking for his first real estate investment at the age of 21. He rented out to family members and friends before he saved up enough cash to start buying short-term rental properties around his local area of Portland, Oregon. As his short-term rental portfolio began to grow, Kai started investing in more “unique” opportunities, like shipping container homes, glamping, or A-frame builds. He also set up criteria that he terms “the golden triangle” for all his unique experiences. These unique homes have helped him grow his portfolio, his profits, and take home a sizable amount of equity between his 12 doors. In This Episode We Cover Why house hacking is still a relevant strategy in today’s market How to convince your partner/parents/friends to invest with an investor presentation Airbnb arbitrage (rental arbitrage) and building your business with no home purchase necessary Land hacking and using a single property for many income streams Creating a “golden triangle” for your unique short-term rentals Setting up safety nets so you never have to realize your “worst-case scenario” And So Much More! Links from the Show Real Estate Rookie Podcast Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram BPCON2021 Craigslist Zillow Airbnb Vrbo TONY ROBBINS Check the full show notes here: https://www.biggerpockets.com/rookie107 Learn more about your ad choices. Visit megaphone.fm/adchoices

Last episode, we had Brian T Bradley, Esq on to talk about all things related to wealth and asset protection. Now, he’s back to answer questions from the BiggerPockets Real Estate Rookie community. We’ll go over a handful of questions from different rookies in the community, questions like: Can I create an LLC and sell my property to it? Will converting a property from my personal name to an LLC trigger a taxable event? Can I put two properties in two different states in the same LLC? Will renting out a side of my duplex as an LLC protect me? How do I stop the commingling of funds when using many LLCs? Should short-term rentals be put under an LLC? How will financing change if my properties are in LLCs? And more in the episode… If you’re finding yourself at the $1M net worth mark and you’d like to protect your assets, check out Bradley Legal Corp or shoot Brian an email at [email protected]! In This Episode We Cover Which LLC structure makes the most sense for landlords How to protect your assets during your different stages of wealth How to set up limited partnerships when you have too many LLCs Protecting yourself when you are house hacking a property How your financing options may change when you buy properties in an LLC Where to hold short-term rentals so they stay protected And So Much More! Links from the Show Real Estate Rookie Youtube Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Rookie Podcast 73: Partnerships: What to Do Before You Jump in With Another Investor BiggerPockets Calculator BiggerPockets Conference Click here to check the full show notes: https://www.biggerpockets.com/rookie106 Learn more about your ad choices. Visit megaphone.fm/adchoices

As a rookie, you’re in the best position possible to start protecting your growing empire of rental properties, but what’s the best way to legally shield yourself from liability and litigation? We talk to awarded asset protection attorney, Brian T Bradley, Esq, who answers questions ranging from when to buy umbrella insurance, how to set up LLCs, and whether or not S-Corps are worth forming. If you’ve ever worried about protecting your personal assets from business-related liability, this is THE episode to watch! The most important point discussed throughout this episode is how you need to start planning for protection early. All too often, investors start building their rental property portfolios without the correct legal setup behind them, only to have one bad lawsuit wipe out decades worth of work. Even Ashley and Tony had some questions on whether or not they needed to shift their portfolio structures! We’ll also have Brian back this Saturday to answer Q&As from listeners, so stick around for that show to minimize your risk when getting into this profitable industry of real estate investing! In This Episode We Cover Why everyone needs a “base layer” of protection when owning real estate What asset protection is and how it benefits investors When and how to set up your LLCs for different properties How many properties should be housed under one LLC Disregarded entities, charging orders, and anonymity Designing a blueprint for your real estate portfolio How to find the best CPAs, attorneys, and legal professionals for your real estate business And So Much More! Links from the Show Real Estate Rookie Youtube Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group LLC or Umbrella Insurance: Which Is Better for Investors? BiggerPockets Calculator BiggerPockets Conference Check the full show notes here: https://www.biggerpockets.com/rookie105 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Dan on the Real Estate Rookie Facebook Group. Dan is asking: For those of you that have gone through the eviction process, did you go it alone in small claims court or did you hire a lawyer? While Tony (thankfully) doesn’t have experience evicting any tenants, Ashley has had to evict multiple out of her personal investment properties as well as from properties she managed when she was a full-time property manager. She describes the multiple ways you can evict a tenant, all of which will rely on the situation the tenant presents you with. Here are some suggestions: Hire an attorney if you are inexperienced with tenant evictions Use small claims court to get back rent or payment for damages Offer cash for keys if you are unable to legally evict at this time Understand that many tenants will pay or leave once they receive an eviction notice And Much More! 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). Links from the Show BiggerPockets Podcast Real Estate Rookie Rookie Facebook Group Check the full show notes here: https://www.biggerpockets.com/rookie104 Learn more about your ad choices. Visit megaphone.fm/adchoices