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