Real Estate Rookie

Explore the debate between paying off your rental properties versus expanding your portfolio. Learn about the pros and cons of FHA loans and other low-money-down financing options. Discover hidden closing costs you can't overlook and practical strategies to attract serious rental applicants. The hosts also share insights on streamlining the rental application process, ensuring you fill vacancies faster. Get ready for valuable tips that can shape your real estate investment journey!

Ariel Herrera, a data scientist and real estate investor, shares her journey of merging data analysis with real estate to find profitable deals. She offers practical tools that don’t require coding, making data-driven insights accessible to novice investors. Listeners learn about utilizing equity for expanding portfolios, house hacking strategies, and identifying investment opportunities across state lines. Ariel emphasizes the importance of technology, including web scraping, for uncovering off-market deals and streamlining the property search process.

Mike Simonsen, an analyst from Altos Research and HousingWire, dives into predictions for the 2025 housing market. He discusses the potential for mortgage rates to dip below six percent and the rise in housing inventory. Mike examines the impact of economic uncertainties, migration trends, and job transitions on home sales. With optimistic projections, he highlights a key metric to watch for gauging market direction. If you're a buyer or seller, this insights-packed conversation is a goldmine for understanding upcoming changes!

This might be the fastest path to FIRE we’ve ever seen. In just two years, Emily and James were able to retire early and travel the world full-time. They didn’t have a trust fund, some huge inheritance, or a winning lottery ticket. But they did make some serious sacrifices, cutting almost everything unnecessary out of their lives to retire early and quit the jobs they were itching to get out of. How’d they do it? After realizing they were throwing away every cent they made, James stumbled upon a popular personal finance blog. He devoured it that day at work and came home a changed man. The AC temperature was going up, the restaurant expenses were going down, and he was deadset on achieving financial freedom. His wife, Emily, needed some convincing. But, with time, they both became locked in on FIRE. They moved to a cheaper house, rode bikes to work, and rarely ate out anymore. Just two years after discovering FIRE, they achieved it, and they did it without millions of dollars in the bank. And here’s the thing: you might be able to do it, too, IF you’re willing to put in the work. How much money are they living on? How did they cut their expenses so significantly? And how do you convince your partner or spouse to follow you on the path to financial independence? Emily and James are showing you how in today’s episode!  In This Episode We Cover:How NOT to convince your partner/spouse to chase FIRE (do THIS instead)Cutting your expenses significantly and how to save money every single monthThe big lifestyle changes you must be willing to make to retire early Rental property investing and how to have income property cash flow fuel your FIREWhy you DON’T need to be a millionaire to retire early And So Much More!Links from the ShowAshley's BiggerPockets ProfileTony's BiggerPokckets ProfileJoin BiggerPockets for FREEReal Estate Rookie Facebook GroupReal Estate Rookie YouTubeThe BiggerPockets Money PodcastRethink The Rat RaceCheck Out "BiggerPockets Money"Reach FIRE Faster with the Personal Finance Classic “Set for Life”Find Investor-Friendly LendersThe Ultimate Beginner’s Guide to Saving MoneyConnect with ScottConnect with Mindy(00:00) Intro(01:51) Poverty to Overspending(06:42) Convincing Your Spouse on FI(09:39) 0% to 85% Savings Rate (17:00) Buying $50K Rentals(23:59) Retiring on $31K/Year(30:10) The Secret to FIRE(33:13) Are They Still Retired? (35:06) Advice for Finding FIRE (36:54) Connect with James and Emily! (37:49) Use These FIRE TipsCheck out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-502Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Baum owns just one rental property, but this one property alone has changed his life. It’s allowed him to become such an investing expert that he’s constantly being asked for his opinion on the BiggerPockets forums, and he provides some of the most well-thought-out investing advice on the internet. So why does he have just one rental property, and why doesn’t he grow using his expertise? The answer isn’t that obvious. You wouldn’t know it, but Mike is permanently disabled. After overworking so hard that he ended up losing his vision, he was placed on disability for the rest of his working career. This high achiever was forced to slow down and find something else that could replace his day job. Shortly after his diagnosis, he found BiggerPockets and turned a family vacation home into a short-term rental.Now, he’s got systems and processes that help him self-manage with very few headaches, and he will probably keep this property as his one and only rental for life. Why didn’t he “FOMO” in when everyone was gobbling up real estate in 2020? Why didn’t he grow his portfolio to become the next tycoon? Mike has some clear answers for why he did what he did, and after listening to him, you might change what you want, too. In This Episode We CoverWhy you DON’T need a large real estate portfolio to find financial success when investingWhy Mike tells beginner investors that they should NOT buy a short-term rental propertyThe systems and processes Mike made to automate his vacation rental self-management (so he works less!)One thing you should do NOW before you start investing in real estate (it’s free!)The real result of “FOMO” investing and how to stop shiny object syndrome from blowing you off course And So Much More!LinksShort-Term Rental & Airbnb Investing ForumThe BiggerPockets Real Estate Podcast(00:00) Intro (03:03) Losing Sight After Overworking (05:53) Empty Lake House? (09:21) Managing a Vacation Rental (12:49) Know This BEFORE You Buy (18:00) Just ONE Property (21:25) No-FOMO Investing (26:49) A “Very Interesting” 2025 Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-501Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Covering your entire mortgage payment in ONE day?! Today’s guest is proof that you don’t need a full-blown real estate portfolio to start making money. She has only ever owned one property, her primary residence, but it brings in up to $16,000 a month being rented out part-time!Welcome back to the Real Estate Rookie podcast! When searching for her first home, Nicole Lulinski Weill wanted a property that could bring in some extra income. She started looking at duplexes and homes with accessory dwelling units (ADUs) before stumbling on her dream house—a vintage home that had been used for film productions—and deciding to tap into its money-making potential as well. Despite not owning any “rentals,” she can pay her mortgage with a single project. The best part? This unconventional strategy is scalable! Now that Nicole has proof of concept, she plans to buy more of these niche investments in emerging markets and rent them out in the same way!If you want to make money without house hacking or becoming a landlord, you don’t want to miss this episode! Nicole will show you where to find a money-making primary residence, how to rent out your home to film production companies, and steps to protect your home from damage along the way!In This Episode We Cover:How this rookie investor covers her entire mortgage payment in ONE dayWhy you DON’T need to own rental property to make money in real estateHow to turn your own primary residence into a money-making machineRenting your home out to film production companies for a huge paydayCrucial steps to protect your house from damage while renting it outAnd So Much More!Links from the ShowAshley's BiggerPockets ProfileTony's BiggerPokckets ProfileJoin BiggerPockets for FREEReal Estate Rookie Facebook GroupReal Estate Rookie YouTubeNicole’s InstagramBuy the Book “First-Time Home Buyer”Find an Investor-Friendly Agent in Your AreaReal Estate Rookie 497 - $1,000,000/Year with 22 Rentals by Focusing on This Ultra-Profitable Niche(00:00) Intro(00:59) Buying (and Renting!) Her Home(10:51) Permitting & Logistics(14:42) Paying Her Mortgage in a Day?!(17:53) Protecting the Property(22:450 Extra Fees & Rental Rates(26:27) The Booking Process(37:08) Connect with Nicole!(33:39) Scaling & RevenueCheck out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-500Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

An investor has climbed to twenty rentals in just two years but feels tangled in their strategy. The hosts provide tips on identifying the right investing approach, such as small multifamily properties and market research. They discuss maintaining landlord privacy through innovative tech solutions and address the challenges of managing numerous properties. Additionally, the conversation highlights optimizing short-term rental pricing using dynamic tools to enhance profitability. Perfect for anyone navigating the real estate landscape!

Chris Young, a savvy real estate investor from Southern California, reveals how he built a portfolio of four rental properties starting with just 5% down. He shares insights on his 'live-in BRRRR' strategy, transforming his first home into a lucrative investment. Delving into short-term rentals, Chris discusses his choice of markets, overcoming challenges, and how a single event nearly derailed his plans. His journey exemplifies how to achieve financial success in real estate without a hefty initial investment.

Jesse Vasquez, a real estate investor and expert in medium-term rentals, generates over $1 million annually from his 22 properties. He reveals how to tap into this lucrative market, emphasizing that you don’t need to own rentals to succeed. Jesse shares strategies for building a network, landing contracts, and attracting clients like travel nurses and construction crews. He also discusses optimizing rentals for guest comfort and the importance of diversifying lead generation to minimize risks. Dive into the promising world of medium-term rentals!

Discover how to build wealth faster with a cleverly utilized tax strategy known as the 1031 exchange. Learn how to sell and reinvest in larger rental properties while deferring hefty capital gains taxes. Delve into the debate of whether to sell or rent a condo needing repairs, weighing potential returns and personal goals. Explore the decision of investing in renovations versus expanding your property portfolio, and uncover the financial benefits of smart property improvements to boost rental income!