Real Estate Rookie

Former football coach turned real estate investor, Adam Howard, shares how he snagged a 13-unit hotel for $160k per year with seller financing. He discusses the challenges and successes of the deal, including finding the perfect partner and adding value to the property. Howard also talks about out-of-state investing, building a strong team, and leveraging retirement accounts for more properties.

Every landlord wants the best possible tenants in their rental property, but of course, this doesn’t happen by chance. Today, we’re delivering several tips to help you improve the screening process, work seamlessly with inherited tenants, and raise rents without pushback!Welcome to another Rookie Reply! In this episode, we not only talk about dealing with tenants but also get into the different types of hard money loans and how to use them. Is an accessory dwelling unit (ADU) attached to the property you’re looking to buy? We discuss how showing its potential income can help you qualify for a loan. Finally, real estate investing is no walk in the park, despite what social media might have you believe. Stick around as we touch on some of the hard truths that new investors should know!If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).In This Episode We Cover:How to screen tenants for your rental (and the three types of checks you need to run!)Why you NEED estoppel agreements when inheriting tenantsDifferent types of hard money loans (and what they cover)How to bolster your loan approval odds with accessory dwelling unit (ADU) incomeThe hard truths people DON’T tell you about investing in real estateAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREESubmit Your Real Estate Rookie Question!Apply to Be a Guest on the “Real Estate Rookie” PodcastGrab Your Copy of “Real Estate Partnerships”Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeleyTenant Screening Tools for Landlords:BiggerPockets ProAvailRentRediAppFolioBuildiumTenantReports.comSet Up Your Own Virtual Mailbox with PostScan Mail Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-374Interested 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

Building a real estate business is one of the best ways to unlock financial freedom, but that’s not to say that every strategy is the right fit for you. Today’s guest had to strike out multiple times before arriving at the perfect real estate investing strategy!Like many new investors, Nicole Rutherford got her start in the rental arbitrage space, where she would bring in at least $1,500 per unit each month. But once landlords decided to raise rents and more competition arrived, her profits evaporated, and her Airbnb bookings took a nosedive. Suddenly, she was hemorrhaging money. With $130,000 in debt, Nicole was forced to cut her losses and start over. Rather than giving up on real estate investing, however, she simply pivoted to another strategy. Just one year later, Nicole is debt-free and runs a thriving Airbnb co-hosting business with fourteen units!Whether you’re new to the world of real estate or looking to pin down your strategy, there’s plenty of helpful information to glean from this episode. Tune in as Tony and Nicole discuss the differences between arbitrage and co-hosting, the different services that co-hosts provide, and what to include in your co-hosting agreements. You’ll also learn how to leverage your network to find your first clients and how to build trust with property owners!In This Episode We Cover:Building a profitable real estate business (and common mistakes to avoid!)How Nicole climbed out of $130,000 in debt with Airbnb co-hostingFinding your first clients through your own real estate networkThe importance of maintaining transparency with guests and property ownersKey terms and conditions you MUST include in your co-hosting agreementHow to pivot to a new investing strategy when one isn’t workingWhy you DON’T need to hit a home run on your first real estate dealAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREESubmit Your Real Estate Rookie Question!Apply to Be a Guest on the “Real Estate Rookie” PodcastMaking $140K/Year & Retiring His Wife in 18 Months with “Rental Arbitrage” w/Keron BryceHow to Start an Airbnb Business in a Brand New MarketRookie Reply: How to Choose Your Real Estate Investment StrategyConnect with Nicole:Nicole's BiggerPockets ProfileNicole's Instagram: @_nicolerutherford_Nicole's LinkedInCheck out more resources from this show on https://www.biggerpockets.com/blog/rookie-373Interested 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

For some people, real estate investing is “too risky.” But what if a small, cash-flowing portfolio could provide financial stability when you lose your job? If you asked today’s guests, they might say it’s too risky NOT to buy rental properties!Welcome back to the Real Estate Rookie podcast! Kevin and Julia Windheuser got into real estate at the perfect time. Shortly after building a small portfolio with six total doors, Kevin was let go from his “safe” engineering job. With no W2 income, the couple leaned on the steady income from their rentals. This $4,000 monthly cash flow bought them the time to not only work on their real estate business but also find Kevin a new job.In this episode, you’ll learn about the power of a “small and mighty” rental portfolio and how it can insulate your finances when times are tough. Kevin and Julia also talk about why they chose a market just outside their backyard, as well as how they estimate rehab costs. Tired of bad tenants? Julia shares the unique screening process she uses to guarantee the best tenants in town!In This Episode We Cover:How to build a small portfolio of cash-flowing rental propertiesHow multiple streams of income can save you financially in lifeChoosing a market when your backyard is too expensive to investHome renovation projects YOU can tackle (and which ones to outsource)Simple ways to estimate rehab costs as a new investorHow to improve your screening process and get better tenants in your rentalsAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREESubmit Your Real Estate Rookie Question!Apply to Be a Guest on the “Real Estate Rookie” PodcastAchieving FI with Fewer Doors: The Small and Mighty Real Estate PortfolioMaking $10K/Month with a “Small and Mighty” Rental PortfolioHow to Screen Tenants for Rental PropertyRental Management Tools for Landlords:RentRediStessaConnect with Kevin & Julia:Kevin and Julia's Instagram: @luxlivingriCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-372Interested 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

Tips on estimating rehab costs, finding hard money lenders, and discussing tax planning in real estate investing. Learn about tracking passive losses, tax benefits in partnerships, and the irreversible mistake to avoid on your tax return.

Airbnb arbitrage is a real estate investing strategy that provides a low-cost, low-risk entry point for new investors. While you don’t get the appreciation or tax benefits of property ownership, arbitrage can deliver cash flow in spades!Welcome back to the Real Estate Rookie podcast! Like many investors, Keron Bryce started house hacking to help cover his mortgage. Once he discovered the potential of short-term rentals, however, he converted his unit into an Airbnb and doubled his cash flow right off the bat. But Keron still aspired to grow his business. So, without a ton of money for down payments, he decided to try his hand at arbitrage—a strategy that helped him rake in $140,000 of pure profit last year and allowed his wife to leave her nine-to-five!Need an easy alternative to owning rentals? Arbitrage is not only a great way to test the waters before buying properties, but it’s also a profitable strategy in its own right! In this episode, you’ll learn about the pros and cons of arbitrage, the systems and processes you’ll need to automate your business, and the best way to find new units!In This Episode We Cover:How to get cash flow from real estate without owning rental propertiesThe strategy Keron uses to get a 100% cash-on-cash returnThe pros and cons of the rental arbitrage modelSystem and processes you NEED to scale your businessHow to convince a landlord to allow rental arbitrageLeveraging your network to acquire MORE unitsAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREESubmit Your Real Estate Rookie Question!Apply to Be a Guest on the “Real Estate Rookie” PodcastAirbnb Rental Arbitrage: How to Make Money Without Owning PropertyBuilding a 150-Unit “Lease Arbitrage” Empire and the STR Furnishing PlaybookTools to Analyze Short-Term Rentals:BiggerPockets Airbnb & Short-Term Rental CalculatorAirDNARabbuConnect with Keron:Keron's BiggerPockets ProfileKeron's FacebookKeron's Instagram: @keronbrycereiKeron's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-370Interested 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

Dion McNeeley shares how he achieved financial freedom in 10 years with just 16 units generating $200k cash flow. He highlights the importance of finding deals on MLS, sticking to one investing strategy, and using unique methods to increase rental income. Learn how to build a buy box, evolve investment strategies, and implement tips for rookie investors.

Want to pay less money to the IRS in 2024? We’ve got the real estate tax strategies to help you do just that. And get this—you don’t need a large real estate portfolio to benefit from these money-saving tax tips!Welcome back to the Real Estate Rookie podcast! Today, real estate tax strategist Natalie Kolodij lends her expertise on the many tax benefits of real estate investing. Natalie is not only a certified public accountant (CPA) but also a fellow investor, and in this episode, she shares the unique real estate investing strategy she used to get started—flipping mobile homes! She also dives into the different types of partnerships and their tax advantages, as well as common house hacking misconceptions that cause new investors to miss out on important deductions.Need to sell a property? You’ll want to know about the exclusion that allows you to avoid capital gains tax. Natalie even gets into the short-term rental “loophole” that investors can use to reduce their taxable income each year. Of course, you don’t need to master the tax code before buying your first property—you just need to find a tax professional who specializes in real estate. So, Natalie offers three questions you MUST ask before hiring one!In This Episode We Cover:Must-know 2024 tax strategies for the small rookie investorCrucial real estate questions to ask a tax professional before hiring themHow to plan and file taxes for different types of partnershipsCommon house hacking misconceptions that cost investors thousands of dollarsThe short-term rental “loophole” that allows you to reduce your taxable incomeHow to dodge capital gains tax when selling your investment propertyThe most common tax mistakes that new investors make (and how to avoid them!)And So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREESubmit Your Real Estate Rookie Question!Apply to Be a Guest on the “Real Estate Rookie” PodcastHear Natalie on the “BiggerPockets Money” PodcastWhat You Need to Do NOW to Pay Fewer Taxes in 2024How to (Legally) Avoid Taxes by Investing in Real EstateSeeing Greene: CPAs Answer YOUR Top Investing and Tax QuestionsThe Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard OfConnect with Natalie:Natalie's BiggerPockets ProfileNatalie's FacebookNatalie's LinkedInNatalie's InstagramNatalie's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-368Interested 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

Commercial real estate investing might seem intimidating, but in many cases, this kind of rental property is even easier to buy than a single-family home. After two failed attempts, our own Tony Robinson unlocked the blueprint for buying commercial properties as a beginner!Welcome back to the Real Estate Rookie podcast! Recently, Tony took down his very first commercial deal—a thirteen-unit property he plans to transform into a hotel with self-check-in convenience. But this huge triumph didn’t come without a few costly mistakes. Before landing his “golden goose,” Tony missed out on two properties and lost thousands of dollars in the process. By his third attempt, however, he had cracked the code!If you want to scale your real estate portfolio and become a full-time investor, buying a commercial property might be your best bet. In this episode, Tony dives into the numbers and projections for his new hotel, as well as the biggest takeaways from his experience. He also shares how to find a market for a niche property, how to raise private capital for a large deal, and why it’s easier to approach an owner about seller financing on a commercial deal!In This Episode We Cover:How to buy commercial real estate as a novice investorFinding the right market for your niche propertyHow to raise capital to take down even bigger real estate deals The five factors that determine if you can compete in a marketWhy you NEED to develop your network before buying commercial real estateWhen to hire your first employee for your real estate businessAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREESubmit Your Real Estate Rookie Question!Apply to Be a Guest on the “Real Estate Rookie” PodcastGrab Your Copy of “Real Estate Partnerships”Why Self-Storage Beats Rental PropertiesCommercial Real Estate Fundamentals for Successful InvestorsScaling from Single Family to Commercial Real EstateFind Your Next Commercial Property:CrexiLoopNetBizBuySellCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-367Interested 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

Choosing to wholesale real estate might be the EASIEST way to kick-start your real estate investing journey. You don’t need a ton of money and you don’t need to take on debt. And with a couple of deals under your belt, you’ll have the money to buy your own investment properties!Welcome back to the Real Estate Rookie podcast! Today, Amina Stevens is an investor, wholesaler, and the host of First-Time Buyer's Club on the Oprah Winfrey Network. But only a few years ago, Amina was a high-school educator who was teaching kids to “follow their dreams” without following any of her own. So, she left her “safe” career, got her license, and found a real estate mentor who showed her the ropes of wholesaling land.Want to invest in real estate but feel you don’t have the money or connections to start? Wholesaling could be the perfect strategy to get your foot in the door! In this episode, Amina shares how she chose her market, found sellers and buyers, and built a six-figure real estate business from the ground up—everything you could need to get started today!In This Episode We Cover:The “easiest” way to get into real estate with NO moneyHow Amina built a six-figure business in only a few monthsWhy you NEED a mentor to help fast-track your investing journeyHow to get money to buy investment properties by wholesaling landThe systems and processes YOU need for a successful real estate businessHow to find the perfect market for your real estate investing strategyAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREESubmit Your Real Estate Rookie Question!Apply to Be a Guest on the “Real Estate Rookie” PodcastA 60-Day Action Guide to Wholesaling Your First PropertyReal Estate Wholesaling: Profit Parasites or Property Investors’ Best Friend?PropStreamLandGlideLandVisionConnect with Amina“First-Time Buyer’s Club”Amina's Instagram: @homesbyaminaAmina's Twitter: @homesbyaminaCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-366Interested 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