How to Run the Numbers on a Rental Property Management System?

If you’re unsure about real estate, run the numbers. It’s that simple. Once you run the numbers, you’ll have clarity on which decisions to make and tangible reassurance that you made the right ones. Today’s guest, actress Brec Bassinger, shares how focusing on the numbers has given her the confidence to become the successful investor she is today.

Brec’s name may sound familiar to some of you. She’s been the star of Bella and the Bulldogs and the new hit show, DC’s Stargirl. Brec’s interest in real estate began after a trip to Big Bear with her boyfriend when she realized the earning potential of short-term rentals. She decided to buy a condo and had her first short-term rental within six months. The speed at which she got her first deal may seem intimidating, but Brec’s confidence came from the numbers she calculated and the profits she knew she could make.

During her first season of Stargirl, Brec had to share a small apartment with her coworker because that’s all she could afford with her fluctuating income. Now she makes more money by living in an expensive high-rise apartment while renting out her old space. Real estate has allowed Brec to supplement her fluctuating income without a W-2 and the freedom to live the life she wants. And even though she plays a superhero, her story proves that you don’t have to be one to invest in real estate.

 In This Episode We Cover

How to confidently close on your first investment property and move past fear

Becoming more financially stable by supplementing your income with a passive income stream

The importance of running the numbers and how to use the simple rental calculations to make profitable decisions

Building a relationship with your property manager and eye-opening questions to ask them

How to qualify for loans without a “steady” income

And So Much More!

Links from the Show

Ashley's Instagram

Tony's Instagram

BiggerPockets

Real Estate Rookie Youtube Channel

Real Estate Rookie Podcast

Real Estate Rookie Facebook Group

Airbnb

BPCON2022

20 Deals in a Year as a Professional Basketball Player w/ Terry Harris

Terry Harris' Instagram

Zillow

AirDNA

BiggerPockets Calculator

MLS

From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy

Nick Cooley's Instagram

Connect with Brec:

Brec's Instagram

Check out the full show notes here: https://biggerpockets.com/blog/rookie-197

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