Real Estate Rookie

Learn the three often-overlooked beginner steps to start investing in real estate in 2024 and hear Dave Meyer's 2024 mortgage rate predictions. Discover the importance of having a clear strategy, aligning investments with long-term goals, and creating a value statement and mission statement. Explore the concept of running a small business and managing payroll in real estate investing. Find out how to view real estate deals as puzzles and the benefits of stable and predictable mortgage rates for investors.

Dayna Hicks, a Multifamily Bootcamp graduate and foster parent, shares her journey of securing a thirteen-unit transitional house at a $180K discount using creative financing. She discusses the advantages of investing in multifamily real estate, leveraging primary residence for funding, raising rent on good tenants, and managing home renovation projects.

Off-market real estate deals allow you to avoid the multiple listings service (MLS) and find RARE properties often at a sizable discount, but many rookie investors are hesitant to send mail or pick up the phone. If that sounds like YOU, we have the tips, tools, and templates to make your life easier!Welcome back to the Real Estate Rookie podcast! Today’s special guest is Brett Long, a rookie investor who managed to build a valuable portfolio in just three years. At a time when all of his friends and family members told him to avoid real estate investing, Brett went all-in—flipping houses for a HUGE profit. Little did he know that the money he would bring in from this strategy would help him fund buy and hold properties as well.In this episode, Brett talks about his experience driving for dollars, as well as the “personalized pitch” he included in his direct mail campaigns to generate a TON of interest from sellers. Of course, once the calls started coming in, he still had some convincing to do. Brett provides the template for these productive phone conversations and shares how he was able to turn hesitant homeowners into willing sellers!In This Episode We Cover:Finding a TON of off-market properties by driving for dollarsBuilding the PERFECT buy box for your investing needsHow to beat the competition by investing in “the path of progress”Using the profits from house flips to fund buy and hold rental propertiesHow to craft a high-converting mailer to send to sellersEssential tips and tricks for talking to sellers over the phoneWhy NOW is the best time to start flipping housesAnd 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 FREEAsk Us Your Investing QuestionApply to Be a Guest on the “Real Estate Rookie” PodcastFrom Sleeping in His Car to Multi-Unit Landlord & The “Nomad” StrategyFinance Friday: Self-Employed Income and Short-Term Rental InvestingFind Property Information Easily with PropStreamThe Step-by-Step Guide to Finding the BEST Off-Market Real Estate DealsFind the Real Estate You Hate (So You Can Buy the Real Estate You Love)How to Get a Better Price on That Off-Market PropertyCashing In On Overlooked Off-Market Deals & Overcoming Analysis ParalysisConnect with Brett:Brett's BiggerPockets PodcastBrett's InstagramBrett's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-354Interested 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

Making $71,000 per year from ONE rental property is a huge feat for any real estate investor, but it’s even more impressive when you’ve had to work your way from the very bottom. Although today’s guest had to overcome several challenges on his investing journey, his resiliency paid off in a BIG way!Only a few years ago, Matt McDermott’s life was unraveling. After hitting rock bottom and going to rehab, Matt realized that he needed to make some serious life changes. Step one was getting sober. Step two was financial freedom through real estate. After an argument in the kitchen one evening, Matt and his wife reached the conclusion that they should buy their first rental property. Since then, they have built a multimillion-dollar painting business and a cash-flowing real estate portfolio!In this rags-to-riches episode, Matt shares how he worked around several roadblocks to make his real estate dream a reality. He also offers crucial tips for getting your spouse on board with real estate, as well as how to get your family involved in DIY home renovation projects. Finally, if you’re self-employed, Matt talks about creative ways to get financing for your deals—such as using bonus depreciation to boost your buying power!In This Episode We Cover:Making $71,000/year from ONE property with the short-term rental strategyHow to get your spouse on board with your real estate dreamHow to get financing for your deal when the banks tell you “no”Increasing your buying power and reducing your tax burden with bonus depreciationTurning DIY home renovation projects into more quality time with familyLeveraging equity in your portfolio to buy MORE 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 FREEAsk Us Your Investing QuestionApply to Be a Guest on the “Real Estate Rookie” PodcastFrom Sleeping in His Car to Multi-Unit Landlord & The “Nomad” StrategyFinance Friday: Self-Employed Income and Short-Term Rental InvestingFind Property Information Easily with PropStreamConnect with Matt:Matt's InstagramMatt's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-353Interested 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

Learn how to pitch seller financing like a pro and get your offer accepted. Discover the pitfalls to avoid when taking on more real estate debt and how to scale your business faster. Get expert advice on negotiating pricing with contractors and protecting yourself. Plus, explore the flexibility of seller financing and strategies for optimizing debt-to-income ratio. Find out how to increase borrowing power for real estate investments and find reliable contractors. Don't forget the importance of creating a scope of work for rehab projects.

The podcast episode covers a range of real estate topics including partnerships, home renovation hacks, house hacking, replacing W2 income with rentals, rental arbitrage, estimating rehab costs, and maximizing money from current portfolio.

Learn how to start an LLC for real estate investing and protect your personal name and assets. Find out the requirements for LLCs, when to put multiple properties under one LLC, and how to apply for bank financing. Discover alternative asset protection strategies and the differences between an LLC and umbrella insurance. Explore the process of creating an LLC, managing business credit cards, and maximizing credit card points for real estate investing. Understand the importance of umbrella policies for liability protection and seek assistance from insurance brokers.

Ariel Herrera, data scientist and real estate investor, shares tips on using data to improve real estate investments. They discuss the power of coding and data analysis, using tools like Redfin and chat GPT. They also talk about analyzing real estate deals, finding deals in Tampa, Florida, and utilizing web scraping for off-market deals.

The hosts discuss taking your real estate business to the next level in 2024, including ending partnerships, launching a property management company, and implementing systems. They emphasize the importance of setting goals, creating an organizational chart, and hiring a virtual assistant. They also share insights on building a strong foundation, balancing maintenance needs, and finding balance in property management.

Matthew Marcelissen, HR consultant by day and investor by night, discusses the challenges of quitting a W2 job to focus on real estate investing. They explore reducing monthly expenses, juggling responsibilities, seeking help, and the benefits of using property management software. The chapter also delves into the speaker's personal experience of quitting their job, providing additional services, and the decision to become a full-time investor.