Real Estate Rookie

Rob Abasolo, investor and co-host of the BiggerPockets Real Estate podcast, shares his journey from being house poor to earning huge cash flow through real estate. He discusses the importance of documenting your real estate journey, subsidizing your mortgage, and getting your spouse on board. The podcast also explores the sacrifices of immigrant parents, building furniture for extra income, listing an apartment on Airbnb, and the benefits of owning real estate for scaling an Airbnb business.

In this podcast, Ashley and Tony discuss the importance of running the numbers before doing a mortgage buydown, as well as the ins and outs of cash-out refinancing. They also cover topics such as choosing between short-term and long-term rental strategies, the pros and cons of installing keyless entry pads, and free tools you can use to get updated property information.

Tyrin Tyson, a travel nurse, shares his real estate journey and the mistakes he made, including buying properties at an auction that weren't as advertised. He also faced a nightmare rehab project that went over budget. The episode covers the importance of having a game plan, finding a mentor, and the pros and cons of long-distance investing. Tyson's story emphasizes the challenges and successes in real estate investing, along with the importance of building a supportive community.

You recently submitted an offer on a house, but you haven’t heard back from the seller. Now what? As an eager rookie investor, the waiting game can be painful. You may already have an eye on other properties but need the capital to invest. Should you withdraw your original offer? Fortunately, Ashley and Tony have a few helpful tips to make your decision a little easier.Welcome back to another Rookie Reply! In this episode, our hosts tackle several important topics—including when to pull an offer on a house and whether you should create an LLC when buying your first property. They also discuss the biggest differences between single-family and multifamily real estate and which type of property is best for rookie investors to target. Finally, they talk about how to become a private money lender and the two important documents that should be in place before you lend a penny!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:Rescinding an offer on a house when you don’t hear from the sellerWhether to buy a single-family or multifamily property for your first dealLLCs and whether you need one when buying your first propertyHow to become a private money lender (and what you need to protect yourself!)The two documents that MUST be in place before lending moneyAnd 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 Full Episode on Real Estate PartnershipsGrab Your Copy of “Real Estate Partnerships” TodayHow to Protect Your Rental from Fires, Floods, Lawsuits, and LiabilityFollow Mindy Templeton on InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-312Interested 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

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