Real Estate Rookie

Some simple DIY investing hacks could save you thousands of dollars. But, as a rookie, the thought of tackling your own home renovation projects might be a little intimidating. Bringing sweat equity to a deal, however, can help you save a ton of money and even make you more valuable in a partnership.In this episode of the Real Estate Rookie podcast, we’re chatting with Shaun Kelly, whose road to real estate investing was anything but fast or easy. Shaun spent nine years in the analysis paralysis phase before he finally pulled the trigger on his first deal. Since then, he has built a portfolio of nine properties in four years and has refined his DIY skill set to the point where he can perform all types of rehab projects for a fraction of the typical cost.Whether you’re looking for creative ways to increase profits on your investment properties or bring value other than capital to a partnership, tune in to hear Shaun’s biggest money-saving DIY hacks and his journey, from making simple fixes to performing major home renovations. Ashley and Tony discuss their own experiences with DIY projects and list the jobs they prefer to outsource to a pro!In This Episode We CoverDIY hacks that will help you save a FORTUNE on home renovation projectsHow to stop overanalyzing and finally land your first real estate dealHow to account for sweat equity when structuring a partnershipThe importance of documenting your journey as a new real estate investorHarnessing the power of YouTube to build your network and create another income streamAnd 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!Analyze Your Deals with the BiggerPockets Investment CalculatorsAchieving FI with Fewer Doors: The Small and Mighty Real Estate PortfolioFollow Ashley Wilson on InstagramBook Mentioned in the Show:Real Estate Partnerships by Ashley Kehr and Tony RobinsonThe Gap and the Gain by Dan SullivanConnect with Shaun:Shaun's BiggerPockets ProfileShaun's YouTubeCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-311Interested 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

The podcast discusses the benefits and risks of real estate partnerships, including how to find a partner, how to structure a partnership, and the importance of communication. They also explore the challenges and benefits of partnerships, testing potential partners, and determining if you need a partner. Additionally, they discuss the importance of confidence and courage in starting a real estate business, understanding personality types for effective partnerships, and introduce a real estate investing framework.

A small real estate portfolio that replaces your entire W2 income!? Many rookies assume that becoming a full-time investor is only possible after amassing a large portfolio with dozens of properties, but that’s not the case. Today’s guest was able to meet his family’s monthly income goals with only six rentals!In this episode of the Real Estate Rookie podcast, we’re speaking (in person!) with Travis Hall, an investor who knew very little about real estate just 18 months ago. After seeing the stress that his wife’s rigorous W2 job was creating, Travis discovered BiggerPockets and caught the real estate bug. The rest is history. Today, he has a small portfolio of six rentals—all thanks to the power of networking, partnerships, and, most importantly, taking action.If you’re ready to trade in the rigidity of your nine-to-five for the flexibility of real estate, tune in to hear Travis talk about his fast journey to full-time real estate investor. He spares no details when discussing his short-term rental strategy (including some VERY unique investments), as well as the monthly income goals he needed to meet to make full-time investing a reality.Grab Ashley and Tony’s latest book, Real Estate Partnerships. Don’t forget to use code “REALESTATE” to get 10% off at checkout!In This Episode We CoverReplacing your W2 income through a small real estate portfolioCombining the cash flow from multiple rentals to meet your income goalsWhy you NEED to review your market’s short-term rental regulations BEFORE closing a dealAirbnb arbitrage (and how to convince a landlord to let you do it!)Using Facebook groups to find partners for future real estate dealsHow to start managing other properties with ZERO capitalAnd 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!Hear Our Interview with Chad “Coach” Carson On the Small and Mighty Rental PortfolioFollow David Greene on InstagramBook Mentioned in the Show:Pre-Order The New Book “Real Estate Partnerships” and Use Code “REALESTATE” to Get 10% OffConnect with Travis:Travis' InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-309Interested 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

How important is cash flow when analyzing real estate deals? Many rookies zero in on this familiar figure when crunching the numbers, but there’s another metric that is FAR more important: cash-on-cash return. This simple but powerful equation can help you determine whether an investment property is worth buying!Welcome to another Rookie Reply! Many rookies struggle to analyze deals when starting out. Fortunately, Ashley and Tony are here to show you exactly how to calculate your cash-on-cash return on a property. They discuss when to use lines of credit to help fund deals, as well as how to pitch seller financing options that make sense for both sides. They also talk about the home appraisal process and, finally, whether an offer on a property can ever be TOO low!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 CoverWhy you should use cash-on-cash return over cash flow when analyzing dealsHow low is TOO low when making an offer on a propertyWhen it makes sense to use a line of credit for a down paymentThe purpose of appraisals and when you might need to order oneHow to effectively pitch seller financing options so both sides walk away with a winAnd 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!Use the BiggerPockets Investment Calculators to Analyze Your DealsUsing Lines of Credit to Kickstart Your Investing CareerCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-308Interested 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 protect your rental property from fires, floods, lawsuits, and liability with insights from Christian Bachelder and Darren Pettyjohn. They discuss the most common mistakes rookies make with insurance, the importance of asking the right questions, the benefits of umbrella policies, and the implications of using technology in rental property management. They also highlight the significance of having proper coverage for short-term rentals and the need to be informed about insurance policies.

Financial freedom with only a handful of rental properties!? So many real estate investors are convinced that amassing units is the key to bigger profits, but the truth is that a strategy involving fewer doors can be just as—if not more—effective. Today’s guest is an advocate for the “small and mighty” real estate portfolio that allows you to create passive income, pursue your passions, and achieve financial independence on your terms!Welcome back to another episode of the Real Estate Rookie podcast! Today, we’re sitting down with Chad “Coach” Carson to discuss his latest book, The Small and Mighty Real Estate Investor. Enjoying the flexibility that many rookie investors dream of, Chad and his family live abroad while his property managers handle the day-to-day operations of his rentals stateside—allowing him to spend very little time on his business each week.If you want to achieve financial freedom without becoming enslaved to your real estate business, this is an episode you won’t want to miss! Chad speaks on creating passive income through real estate, how to enjoy a two-hour workweek, and why accumulating more units shouldn’t be your end goal. He also talks about the three phases in every real estate journey and why the final phase is the key to unlocking your financial independence!Remember to pick up Chad’s new book and use code “SMALL306” at checkout! In This Episode We CoverHow to build a small real estate portfolio that supports your financial goalsThe three important phases in every real estate journeyLean FI, fat FI, and why you should know both numbers before investingThe people and systems you NEED to create passive income from your rentalsArriving at “enough” when scaling your real estate empireAnd 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!Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon TurnerBooks Mentioned in the ShowRetire Early with Real Estate by Chad CarsonGet Your Copy of “The Small and Mighty Real Estate Investor” and Use Code "SMALL306" for 10% OffConnect with Chad:Chad's BiggerPockets ProfileCoach Carson PodcastChad's InstagramChad's YouTube Check the full show notes here: https://www.biggerpockets.com/blog/rookie-306Interested 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

Don’t know how to analyze a rental property? After this episode, you’ll be a rental property analysis pro, knowing exactly how much money you’ll make on your first, second, or next real estate investment. But don’t worry; you won’t need any complex formulas, dense spreadsheets, or complicated math to calculate how much cash flow you’ll collect from your real estate deal. Instead, you can use the EXACT methods we show to analyze investment properties in minutes, EVEN if you’re a real estate rookie!In this episode, Ashley and Tony will teach you EXACTLY how to analyze real estate deals in 2023. From long-term to short-term rentals, BRRRR properties, and choosing your real estate market, Ashley and Tony will go through everything you need to ensure your first or next real estate deal is a home run.Our hosts will go step-by-step through analyzing a real estate investing market, signs of one you should invest in, building your “buy box,” analyzing a long-term, short-term, and BRRRR investment property, and how the 2023 housing market has changed. If you’re still waiting to get a rental property under contract, this is the place to startIn This Episode We CoverHow to analyze a rental property, short-term rental, or BRRRR investment from scratch 2023 housing market updates and what you MUST know before buying Using the BiggerPockets rental property calculators to analyze properties in minutesWhere to find insurance prices, property taxes, and other KEY variables The three things you MUST know before analyzing an Airbnb or vacation rental Financing your real estate deal and rental property loans you can use to purchase an investment property! 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!BiggerPockets Calculators Used in This Episode:Rental PropertyBRRRRRent EstimatorTune into The “Real Estate Rookie” Podcast:PodcastYouTubeGrab Tony’s Short-Term Rental CalculatorBrightInvestorNeighborhoodScoutPolicygeniusPriceLabsPropstreamInvestor Shout-Outs:Amy MahjooryLattes and LeasesZosia Madden (Rookie Ep 301)Check the full show notes here: https://www.biggerpockets.com/blog/rookie-305Interested 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

Want to buy your first investment property? You DON’T need twenty percent down sitting in your bank account. We know; everyone has told you that you need a massive down payment before you buy a property. But did you know that expert investors like Ashley and Tony rarely come to the closing table with their own money? If you know where to find the right funding, you too could buy multiple income properties a year WITHOUT having to scrimp and save up tens, if not hundreds of thousands of dollars!We’re back with another funding and finance-first Rookie Reply episode. This time, Ashley and Tony will go over how to fund your first BRRRR or fix and flip, EVEN if you don’t have twenty percent down. On a closely related note, we’ll touch on what to show a private money lender when you’re looking for funding and the “private money packet” new investors should start creating TODAY. Then, Ashley and Tony will hit on how to make more offers so you can build wealth faster. Lastly, you’ll hear the differences between small and large multifamily and why experienced investors LOVE larger deals.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 CoverReserves, down payments, and how to fund your first BRRRR or fix and flip if you’re low on cashUnlocking private money lending and exactly what a lender wants to see before they fund your deals The easiest way to start making more offers and the simple technique that’ll make analyzing deals a breeze What to know BEFORE you buy a large multifamily property (and laws to pay attention to)Cap rates, commercial real estate, and why bigger deals are often easier to increase equity 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!Listen to Episode 303 with Spencer CarpenterCheck Out Our Mentee Episodes with Lawrence Briggs:Part 1Part 2Part 3Part 4Lattes and LeasesSerena NorrisCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-304Interested 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

The easiest way to supercharge your real estate portfolio? Host your own real estate meetups to build your network! If that sounds intimidating, you’re not alone! Many rookies let their lack of experience or fear of no one showing up stop them from tapping into this gold mine of a networking strategy. Today’s guest found it to be the fastest and easiest way to find wholesalers, buyers, and lenders for his real estate deals!Welcome back to the Real Estate Rookie podcast! In this episode, Ashley and Tony are joined by Spencer Carpenter—an investor who got into real estate with the goal of supporting his family members in retirement. After his first deal went south, however, Spencer lost most of his capital and could have easily given up on real estate. Instead, he doubled down and networked his way to a pair of house flips that he was able to sell at a sizable profit.If you’ve ever wondered how investors grow their networks to find better deals, this is the episode you’ve been waiting for! Spencer provides his step-by-step formula for hosting real estate meetups at little to no cost, while Ashley and Tony offer their best tips for vetting contractors and property managers. They also discuss working with hard money lenders and what can go wrong if you DON'T maintain an open line of communication!In This Episode We CoverHow to host your very own real estate meetups at no (or low) costHarnessing the power of networking to find wholesalers, buyers, lenders, and moreThe best ways to find and vet contractors for your rehabsWeighing your financial risk when analyzing real estate dealsRed flags to look out for when hiring a property management companyWhy you NEED to get on the same page with your hard money lender upfrontAnd So Much More!Check the full show notes here: https://www.biggerpockets.com/blog/rookie-303Interested 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

100% financing for ALL of your real estate deals? Without thousands of dollars saved up, many people assume there’s no way for them to invest in real estate. But that’s far from true. Today, you can fund your entire real estate deal—including purchase price, down payment, closing costs, and rehab costs—using other people’s money!Welcome back to another Rookie Reply! If you don’t have the funds to invest in real estate, hear Ashley and Tony share their best strategies for getting deals done with creative financing. They also discuss rehab costs and provide a three-step plan for estimating them. Hiring a property manager is a daunting task for any rookie, but our hosts share the biggest red flags to watch out for when vetting a property management company. Finally, they discuss the touchy subject of rental repairs—who’s responsible and how to keep the peace with tenants!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 CoverHow to get financing for 100% of your deals (purchase price AND rehab costs!)Four EASY ways to find private money lenders for your real estate dealsThe three-step plan you NEED to accurately estimate rehab costsRed flags to look out for when hiring a property management companyHow to determine who is responsible for repairs (without upsetting your tenants!)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!Private Capital Explained: The 4-Second Pitch to Unlock Unlimited Funds (Part 1)Private Money Explained: 5 Simple Ways to Find Private Money Today (Part 2)Private Money Explained Part 3: The “Credibility Pieces” Lenders Love to SeePrivate Money Explained Part 4: Rates, Returns, and Protecting InvestorsA Step-by-Step Guide to Estimating Rehab Costs w/ Master Flipper & Investor James Dainard (Part 1)Finding Contractors, Renovation Red Flags, and Estimating Rehab Costs (Part 2) w/ James DainardFollow Amy Mahjoory on Instagram to Learn More About Raising Private CapitalBook Mentioned in this Episode:Raising Private Capital by Matt FairclothThe Book on Estimating Rehab Costs by J Scott Check the full show notes here: https://www.biggerpockets.com/blog/rookie-302Interested 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