BiggerPockets Real Estate Podcast 564: Difficult Tenants, Taking on Investors, & Leaving a Safe Job for Real Estate | Q&A w/Rob Abasolo
Jan 30, 2022
Dealing with bad tenants and scaling hurdles can be daunting for real estate investors. Experts share strategies for transitioning from steady jobs to thriving in real estate. Learn how to ethically raise private capital and avoid common pitfalls in short-term rentals. They also discuss overcoming emotional fears in investing and managing multiple projects. Plus, a light-hearted take on the challenges of carving out a social media identity. This engaging Q&A offers practical insights and motivation for both rookie and seasoned investors.
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Focus on One Strategy
- Focus on one investment strategy initially, even if skilled in multiple areas.
- This builds investor confidence and simplifies decision-making.
Steak or Chicken
- Start with simple investment choices, like "steak or chicken," to avoid overwhelming potential investors.
- Expand options gradually as you gain experience and build trust.
LLC vs. Personal Name for STRs
- For short-term rentals (STRs), consider purchasing in your name and increasing homeowner's insurance.
- Transfer to an LLC later if necessary, especially when commercial loans become relevant.