Real Estate Rookie

Tim Yu, a true Real Estate Rookie, built a rental property portfolio and did multiple house flips in less than twelve months with close to nothing in his bank account. Topics include rental property financing, creative financing, investing with partners, avoiding scams, motivations for selling short-term rentals, lease options, boosting rental value, and overcoming fear in real estate investing.

Ashley and Tony discuss the pros and cons of Airbnb rental arbitrage for landlords. They provide advice on delivering non-renewal notices to tenants and offer a step-by-step process for making offers on investment properties. They also explain the differences between hard money loans and construction loans, and highlight the importance of structuring partnerships properly. The podcast touches on topics such as insurance for rental arbitrage units and understanding rental landlord laws for lease renewals.

The podcast features real estate investor Kevin Cullen as a guest, who interviews the hosts. The most interesting topics include reinvesting money to scale a real estate portfolio, structuring a partnership, red flags to look out for in potential partners, and finding off-market properties. They also discuss compensating oneself in property management, structuring LLCs and partnerships, and making a profit on property sales.

First rental property? Security deposits, credit checks, and home renovations can seem DAUNTING when it’s your first real estate rodeo. How much do you charge, which tenant do you select, and will refreshing the grout allow you to double your passive income? These are just some of the questions you’ll have before you collect your first rent check. But don’t worry about answering them yourselves; we have the experts to help!Welcome to this week’s Rookie Reply! If you’re just starting your real estate investing journey, this is the place to be! Ashley and Tony go through some VERY common questions, such as what to do if your tenant terminates their lease early, how much to charge for security deposits, and how to run your first credit/background check. For those who are a bit more experienced in the investing game, we also chat about HELOCs, rental renovations (and if they’re worth the cost), and moving properties into an LLC.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:What to do when your tenant leaves in the middle of their lease Using a HELOC to buy a new home and what happens when you moveSecurity and pet deposits, plus how much you can charge for eachBest tenant screening and background check software for rookie landlordsMoving properties into an LLC and whether you REALLY need an attorney to do soRental renovations and when your upgrade ISN’T worth the costAnd 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 QuestionHear About Tyler Madden’s HELOC InvestingThe Landlord’s Guide to Rental Property Security DepositsAppFolioAvail.coBuildiumRentRedi.comTenantReports.comCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-332Interested 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

Lyrva Sanchez, a single mom of two, shares her journey of finding her perfect first rental property in an expensive area. She tried various strategies but found success with a unique approach. The podcast discusses the challenges of investing in competitive markets, the importance of finding a strategy that aligns with your goals, and the process of finding a rental property with an ADU. The hosts also promote valuable real estate tools and resources.

Serena Norris, a graphic designer turned full-time investor, shares her step-by-step guide to home renovation projects. Topics covered include finding a real estate mentor, managing rehab projects, creating a detailed scope of work for contractors, and choosing the right investment strategy. Essential systems, processes, and templates are also discussed.

Buying a rental property for just eighty bucks? There’s no way that’s possible. How can you close on a rental for the same amount of money it takes to fill up a tank of gas? Surprisingly, one type of mortgage lets you come to the closing table with no money down, no PMI (private mortgage insurance), and, if you play your cards right, (almost) no closing costs. Clint Campbell even used it on his recent house hack.Thanks to serving in the military, Clint had his college paid for by Uncle Sam. When the opportunity to be deployed came up, Clint took it, knowing he’d make more while spending less. He was able to save up a nice chunk of change and used it to buy a rushed first rental property. But then, Clint realized he could pay almost NOTHING for a home he would live in, so he looked around for just that, and the eighty-dollar house hack came to be!In today’s episode, you’ll learn all about the VA loan Clint used to pay just eighty dollars for his first house hack, the limitations to this loan that service members MUST know about, and how to turn your girlfriend into a handyman and tenant combo who still loves you.In This Episode We Cover:The VA loan explained and using it to buy a house for NO money down Building your credit from scratch and quick tips to boost your credit scoreWhy you MUST get pre-approved before buying a property (ALWAYS do this)Seller credits and using them to lower your closing costs Partnering with a spouse or romantic partner on your next propertyPassive real estate investing and how to make money in real estate WITHOUT doing the work 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!VA Loans: How Eligibility & Funding Works in 2023How to Invest in Real Estate with No Money DownAnnualCreditReport.comAUNT KARACredit KarmaThePointsGuy.comBook Mentioned in the ShowReal Estate Partnership by Ashley Kehr & Tony RobinsonConnect with Clint:Clint's TikTokCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-329Interested 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

David Greene, host of the BiggerPockets Real Estate podcast and author of SIX top real estate investing books, talks about the three 'pillars' of wealth that lead to financial freedom. He shares his experiences with building wealth through increasing income, saving money, and real estate investing. The podcast emphasizes the importance of hard work, tracking finances, and playing offense and defense to achieve financial success.

In just a few years, you can go from no cash flow or investing experience to owning a sizable real estate portfolio, with passive income flowing in and free rent, EVEN if you’re in your early to mid twenties. Not possible? Today’s guest would beg to differ.Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with investor Noah Sprimont, who has had quite the real estate journey to date. Noah became obsessed with the idea of reaching financial freedom through real estate while he and his now-fiancée were living with his parents. To fast-track his development, he not only immersed himself in BiggerPockets content but also took up several W2 jobs that would help him hone the skills he needed to become a successful investor. Laser-focused on making it in real estate, Noah dabbled in several real estate strategies before discovering the cash flow potential of short-term rentals.If a bumpy start to your real estate journey has caused you to feel discouraged, you’ll want to hear how Noah was able to tackle his own feelings of self-doubt and fear of the unknown in this episode. You’ll also learn which skills can help you prepare for real estate investing, how to find flexible financing options for your deals, and what every rookie investor can bring to a partnership—regardless of the number in your bank account!In This Episode We CoverWhat you MUST do to maximize your short-term rental cash flowDeveloping invaluable skills that will help you transition into a career in real estateQuitting your W2 to pursue full-time real estate investingFlexible financing options you can get through a smaller bank or credit unionHow to cover even the most unexpected home renovation costsThree essential tips that will make your next home renovation project a HUGE successAnd 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!2 Long-Distance Rentals with $0 Down with Tony RobinsonHow to Invest in Short Term Rentals (STR)Books Mentioned in the ShowReal Estate Partnerships by Ashley Kehr & Tony RobinsonConnect with Noah:Noah's BiggerPockets ProfileNoah's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-327Interested 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

Real estate wholesaler Nate Robbins shares his step-by-step process for finding highly profitable off-market deals. He talks about shedding the W2 mentality, choosing the best investing strategy, and engaging sellers. The importance of taking risks, finding your niche, and building a large list of off-market deals is also discussed.