Real Estate Rookie

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!

Burned out at your W2 job? Tired of climbing the corporate ladder? Starting a real estate business could give you financial freedom, but is it worth giving up the security of a biweekly paycheck? This entrepreneur thinks so, and today, she’ll give you the blueprint for forging your own path in real estate!Welcome back to the Real Estate Rookie podcast! Melissa Shelton is not only an investor, but also the founder of Dear Valentine, a business that blends luxury, hospitality, development, and management. Quitting her nine-to-five job to become a full-time entrepreneur wasn’t an easy decision since she had worked tirelessly for many years to reach the top of her field. But, in the end, her “why” won out, and she mustered up the courage to go all-in on her dream!In this episode, Melissa will show you how to launch a “small and nimble” real estate business. You’ll learn how to set goals, grow your clientele from scratch, and build a business plan that keeps you afloat. But that’s not all. Melissa also has tips for limiting overhead costs, finding deals that give the highest returns, and hiring people who propel your business forward!In This Episode We Cover:How to start a real estate business that gives you financial freedomHow to get your “foot in the door” and land your first clientCreating multiple income streams that insulate your new business ventureCrafting the perfect “pitch” that gets new investors and partners on boardHow to overcome the fear of failure when pursuing entrepreneurshipAnd So Much More!Links from the ShowAshley's BiggerPockets ProfileTony's BiggerPokckets ProfileJoin BiggerPockets for FREEReal Estate Rookie Facebook GroupReal Estate Rookie YouTubeAsk Your Question on the BiggerPockets ForumsMelissa’s InstagramCanvaBuy the Book “The Quitter’s Manifesto”Find Investor-Friendly LendersStay-at-Home Mom to “Accidental” Investor with a $600K/Year BusinessConnect with Melissa(00:00) Intro(01:40) Catching the Real Estate “Bug”(04:59) Leaving Her W2 Job(09:42) Preparing for Entrepreneurship(21:51) A Day in the Life (23:37) Melissa’s Business Model(27:04) How to Find Clients(35:56) Staying “Small and Nimble”(39:36) Connect with Melissa!Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-495Interested 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

Garrett Brown, a seasoned real estate investor and BiggerPockets content creator, shares his inspiring journey from hospitality to innovative short-term rentals. He discusses how he generates a stunning $50,000 cash flow from a single rental by creating unique stays that blend luxury with a taste of the outdoors. Garrett reveals strategies for standing out in a saturated market and the importance of documenting your investing journey online. Plus, he offers tips on finding discounted properties and the art of effective negotiation.

Garrett Brown, a full-time content creator at BiggerPockets, shares his insights on transitioning to full-time real estate investing. He discusses how many rental properties are needed to replace a W2 income and emphasizes the importance of cash flow management. The conversation includes strategies for diversifying investment portfolios without losing focus, evaluating short-term rental markets, and managing properties efficiently. Listeners also get tips on leveraging home equity and navigating existing bookings when purchasing new rentals.

Mindy Jensen, a personal finance expert and live-in flipper who co-hosts the BiggerPockets Money podcast, shares invaluable insights on starting your real estate journey from scratch. Discover creative strategies to save for your first rental property, including leveraging retirement accounts and exploring side hustles. Mindy emphasizes the importance of budgeting and understanding associated costs while debunking the 20% down payment myth. Tune in for actionable tips to grow your income and build a strong financial foundation for investing in real estate!