Buying eight rental units in under one year—how is that even possible? By the time you’re done with this episode, you’ll know how to fund any rental property purchase, no matter how much money or experience you have. And if Tim Yu can build a rental property portfolio AND do multiple house flips in less than twelve months when he had close to nothing in his bank account this time last year, you can, too.
Tim is a true Real Estate Rookie. He spent over a year listening to every episode of the show on his way to and from work. After getting fed up with analysis paralysis, Tim threw in a lowball offer on a potential BRRRR (buy, rehab, rent, refinance, repeat) property. His offer was accepted! The problem? He had NO money to buy it. Fast forward a year; Tim has done ten deals, owns eight rental units, and is getting closer to leaving his W2 job.
In this episode, Tim reviews EVERY (and we mean EVERY) type of rental property financing. From hard money loans to credit cards, selling off retirement accounts, and partnerships. Whether you’ve got the funds or not, Tim will walk through EXACTLY how to get your first (or next) rental property!
In This Episode We Cover:
Rental property financing 101 and how to invest in real estate with no money
Creative financing, subject to, and doing deals WITHOUT using banks
How to instantly boost the cash flow on your long-term rental property
Investing with partners and where to meet the most legit ones
Crooked contractors and how to avoid getting scammed on your first rehab
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
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Ask Us Your Investing Question
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Real Estate Rookie Podcast 329 on VA Loans
Real Estate Rookie Podcast 330 with Serena Norris
Invelo
REIPro
Privy
RentRedi
Books Mentioned in the Show:
Real Estate Partnerships by Ashley Kher & Tony Robinson
Rich Dad Poor Dad by Robert Kiyosaki
Who Not How by Dan Sullivan
Connect with Tim:
Tim's BiggerPockets Profile
Tim's Instagram
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-335
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Real Estate Rookie