Real Estate Rookie

200: Scott Trench’s 10-Step Checklist to Buy Your First Rental Property

Jul 16, 2022

01:14:02

Episode guests

Scott Trench

Highlights

AI Chapters

Episode notes

How to Compare Investment Opportunities

01:36

Credit Repair

01:12

How to Compare Investment Opportunities in Real Estate

04:25

Investing in Real Estate Black the Deals, Money or Experience?

03:55

Introduction

2min

The Ricky Podcast - Episode 200

2min

Set for Life by Scott Trench - A Great Graduation Gift

2min

Real Estate Investing Expert Secret

3min

Bigger Pockets Podcast - What's Your Story?

5min

Bigger Pockets - What Does an Investor Look Like When They Come Into This World?

2min

Investing in Real Estate

3min

The Wealth Creation Journey Starts With Less Expenses

3min

You've Got to Plan That Out in Real Life

2min

10.

Set for Life

5min

11.

How to Inflate Your Life Style Overtime

2min

12.

How to Build Your Own Real Estate Business

3min

13.

Is Real Estate a Good Investment?

4min

14.

How to Get Into Real Estate Without Bankruptcy

3min

15.

Shopify - The Best Place to Build Your Online Store

2min

16.

Investing in Real Estate Black the Deals, Money or Experience?

4min

17.

How to Fix Your Credit Score Before Getting Into Residential Real Estate

3min

18.

Credit Repair

2min

19.

How Much Cash Do You Need to Buy a by Real Estate?

6min

20.

The Value of Your Time in Real Estate

3min

21.

How to Compare Investment Opportunities in Real Estate

4min

22.

Are You Ready to Invest?

3min

23.

Are You Ready for the Rooky Exam?

4min

24.

Bigger Pockets Podcast - Episode 200

3min

You’re here to buy your first rental property. This is the Real Estate Rookie Podcast, and as a rookie, where should you start? Most new real estate investors think that the steps to buying a rental property are simple—find an agent, find a property, buy the property. And although that could buy you a rental property, the chances of you becoming successful are very low. Real estate investing requires much more than just purchasing a property if you’re trying to build generational wealth, financial freedom, and a life that operates on your schedule.

It shouldn’t be surprising that the CEO of a company like BiggerPockets is someone who took the slow, yet highly successful route. No raising money on his first deal, no buying multimillion-dollar apartment complexes, no giant yacht, and no private planes. Scott Trench is the epitome of the “grind until you shine” real estate investor. Starting with little-to-no savings, he was able to work his way up to his first rental, his second, and now his thirteenth.

To celebrate the release of the updated version of his wildly popular book, Set for Life, Scott has created a ten-step checklist that any new investor should use to get their first real estate investment. These steps were specifically designed for you to not just get one rental, but many more following your first purchase. These are the exact steps Scott took to reach financial freedom in under ten years, and if you follow them as well, you might be able to do it faster.

In This Episode We Cover

The ten steps to becoming a successful real estate investor (even if you have no experience)

Frugality and its impact on how you invest and grow your wealth over time

Calculating your dollar per hour cost and choosing whether or not to outsource work

The four levers of wealth creation and how to pull them all for fast-paced wealth building

How Scott went from entry-level worker to CEO of BiggerPockets in under ten years

Building your “investor ability” so you can make smarter decisions faster

And So Much More!

Links from the Show

Rookie Readiness Checklist

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