Real Estate Rookie

Want to pay ZERO taxes next year? If you own real estate or are building a portfolio, there’s a good chance that you can legally keep your profits away from Uncle Sam. But you’ll need one thing before you can do so. Our own Tony Robinson plans on using this exact strategy to pay $0 in taxes for this most recent tax year. So, why aren’t all real estate investors doing this? And where do you find the income-tax-free-genie who can help you make your tax burden magically disappear?It’s Saturday, so a new Rookie Reply is headed your way. This time, Ashley and Tony will touch on mitigating MASSIVE tax amounts using this particular service. Next, what can real estate partners expect when one party puts up the money, and the other puts up the work? For the debt-free disciples, you’ll hear about using a credit card for a down payment and when you know you have TOO much real estate debt. If you want to grow your passive income, pay fewer taxes, and ensure your mortgages ALWAYS get paid, stick around!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 (legally) eliminate income tax when investing in real estate Down payments and why you (probably) won’t want to use a credit card to fund yours Real estate partnership responsibilities and what a money partner’s roles are Listing your own property for sale by owner (FSBO) vs. using a real estate agent Rental property debt and what to do when tenants refuse to pay rent The one question you need to ask a realtor that could lead to a reduced commission fee 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!Rich Dad’s CPA Shares 5 Steps to Eliminate Income Taxes through Real EstateHow to Buy Real Estate with Your Credit CardHow Much Do You Need For A Down Payment On A House?Check the full show notes here: https://www.biggerpockets.com/blog/rookie-292Interested 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

Who knew living for free could be as simple as house hacking and renting rooms out to a few college friends? Today’s guest was able to generate enough monthly income from his first real estate deal to cover his mortgage payment each month—and then some!Welcome back to another episode of the Real Estate Rookie podcast! Ryan Hughes’ real estate investing journey started at the age of fourteen, when his father allowed him to go in on a real estate deal. Naturally, Ryan was ready and eager to start investing in his own rental properties by the time he graduated from college. Within months, he had bought his first investment property, one he conveniently spotted while jogging around his neighborhood. Shortly after closing, Ryan had seven people living in the house and paying rent to fully cover his mortgage payment, utilities, and more.If you’re interested in living for “free” and attaining financial freedom, you’ll want to hear what Ryan has to share about house hacking, building your real estate network, and how to keep the peace with other tenants. As always, Ashley and Tony have some invaluable insights to share as well—from leveraging debt the right way to finding the best home loan products!In This Episode We CoverHow to live for FREE by house hacking and renting out roomsManaging tenants when they live with you (and share your stuff!)Identifying housing markets where cheap properties will appreciateTapping into a real estate agent’s network and leveraging their connectionsUsing an inspection report to your advantage before closing on a propertyHow to find a home loan that benefits both the buyer and sellerAnd 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 FREEAnalyze Your Own Deals Using the BiggerPockets Rental Property CalculatorLiving for “Free” with 63 Self-Storage UnitsFollow Ana Karina on Instagram for Real Estate, Tax, and Bookkeeping AdviceConnect with Ryan:Ryan's YouTubeRyan's TikTok Check the full show notes here: https://www.biggerpockets.com/blog/rookie-291Interested 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 know how to use your home equity to buy your next rental? You could be sitting on tens of thousands in potential funds that’ll make saving for the down payment MUCH easier. But first, you’ll need to know how much equity you have, the amount you can pull out, and whether or not a HELOC (home equity line of credit) is even worth it. So, if you’re itching to get your next deal faster, stick around! Ashley and Tony will give you the info you need to take your money and multiply it!Welcome back to this week’s Rookie Reply, where Tony wears a hat! Aside from covering up that beautiful bald head, Tony and Ashley have some solid tips for anyone looking to buy a property with tenants in place, debating the value of a whole house HVAC system (heating, ventilation, and air conditioning), or putting up the pros and cons of private lenders vs. bank loans. You’ll learn the many ways to cool your house, how to confirm rent payments before you buy a home with inherited tenants, and how to make passive income by private lending!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 CoverHELOCs (home equity lines of credit) and using one to buy your next propertyHVAC systems vs. window units and which demand higher rent prices How to make completely passive income by becoming a private money lenderRaising capital vs. taking a bank loan and why big investors ALWAYS raise moneyHow to confirm rent payments BEFORE you buy a property with tenants in placeAnd 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 FREESign Up for BiggerPockets Pro to Get Lawyer-Approved Lease Agreements:BP ProLease AgreementsConnect with Other Investors on the BiggerPockets ForumsSubmit Your Real Estate Rookie Question!How to Buy a Rental Property with NO Money OR Credit w/Pace MorbyFollow Rachel Richards (MoneyHoneyRachel) on InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-290Interested 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

A glamping site might sound like a fun real estate investment idea, but how feasible is it? Does it offer enough cash flow potential as a short-term rental property? How do you get a building permit for a unique structure like a geodesic dome!? Today’s guest managed to launch the very first glamping site in his area and make some killer cash flow, but not without jumping a few hurdles along the way.In this edition of the Real Estate Rookie podcast, we pick the brain of award-winning music producer Garrett Brown, who first decided to get into real estate because of the schedule flexibility it offered. After starting out as a realtor and spending time around investors, Garrett’s eyes were quickly opened to the huge earning potential of investing in real estate. Using the capital he generated from a house flip, Garrett was able to get into the short-term rental space—combining his newfound passion for real estate with his background in hospitality. Today, he talks about his most recent acquisition—a three-door glamping site sandwiched between two regional attractions outside Houston, Texas.If you’re looking to buy your first short-term rental property, you won’t want to miss out on all that Garrett, Ashley, and Tony unpack in this episode! They’ll discuss their favorite ways to estimate rehab costs, how to find the perfect market for your short-term rental, and the importance of delivering a first-class guest experience as an Airbnb host!In This Episode We CoverGarrett’s massive cash flow on a unique “dome” vacation rental Several creative ways to estimate rehab costs for a house flipFinding the perfect market for a short-term rental propertyImportant hospitality tips that will make you a top short-term rental hostGlamping sites, geodesic domes, and other unique short-term rental ideas!How to underwrite unique properties (and get your county to give you a permit!)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 FREEUse the BiggerPockets Calculator to Estimate Your Earning PotentialTry Lodgify for Your Short-Term Rental Management NeedsBook Mentioned in the Show:The Book on Estimating Rehab Costs by J ScottConnect with Garrett:Garrett's BiggerPocketsGarrett's TikTokGarrett's YouTubeGarrett's Glamping Operation on InstagramGarrett's Glamping Operation on TiktokGarret's Glamping Operation on YouTubeCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-289Interested 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 a better rental property loan? You’ve probably tried talking to banks, brokers, and residential lenders about growing your real estate portfolio, only for them to hit back with W2, income, and credit score requirements. Is there a loan that gets around these conditions for those that are hard to fund? What if you have a rock-solid real estate deal but no nine-to-five income to show to a bank? Well, there’s one type of funding you’ve probably never heard of, and real estate investors nationwide are starting to take advantage of it.We’re back with another Rookie Reply as Ashley and Tony embark on an emotional journey down eviction lane, discussing what to do when bad tenants stay in your property and how to ensure it never happens again. But that’s not all; Ashley and Tony bring their tenant red flags that ANY landlord should know about when interviewing potential renters. They’ll also touch on subject to, seller financing, and other creative ways to fund your real estate deal, plus why you should (or shouldn’t) buy a historic home. Finally, you’ll hear about the investor-only loan so many people are using to grow their portfolios even faster!If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).In This Episode We CoverThe one rental property loan that big-time investors are using to multiply their portfolios Evicting a tenant and how to recover rent payments that you’re owedTenant screening tips and red flags you should look out for when interviewing tenantsCreative financing and how seller financing and subject to deals create win-wins for buyers and sellersBuying in a historic district and the grants and tax advantages you may be entitled to for doing soAnd 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 FREEReal Estate Rookie Podcast 280 with Pace MorbyReal Estate Rookie Podcast 538 with Katie NeasonDSCR Loans: What Are They And How To Get The Best TermsThe Ultimate Comprehensive List of Tenant Red FlagsBook Mentioned in the Show:Wealth without Cash by Pace MorbyCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-288Interested 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

A 36% return on your FIRST rental property? In today’s housing market? That sounds almost impossible. With more and more inventors struggling to find a cent of cash flow and home prices still so high, how does a real estate rookie walk away with a deal most investors could only dream of? The answer lies within Danielle Daly’s strategy, and it’s one that most people would be too picky to repeat. But, if you have the ingenuity to do what she did, you could live for free in an expensive market, collecting some killer cash flow every month.Before this cash cow of a deal, Danielle was a burnt-out hospitality worker who quit her seventy-hour work weeks to make $30,000 per year as a waitress. She wanted the pay of a nine-to-five, without the soul-crushing time commitment so many jobs expect. So, she left sunny Florida on a whim, and headed to snowy Denver, only to end up at…BiggerPockets. She couldn’t resist the real estate bug and got her sights locked on her first property.Danielle spent months looking for the right layout, at the right price, with the cash flow potential she needed. Half a year or so later, she looks back on her first purchase as one of her best financial decisions ever. In this episode, you’ll hear how Danielle turned $30,000 into a half-a-million-dollar property in a pricey market, how she gets paid to live in her own house, and the one thing that helped her achieve investing success faster than the rest.In This Episode We CoverHow Danielle makes a 36% return on her first rental (with ZERO experience)The one strategy ANYONE can use to buy a cash-flowing rental property with low money downDitching burnout and how to know it’s time to leave your job for something betterNetworking for newbies and how to find lenders, realtors, and tenants Seller concessions and letting someone else “buy down” your mortgage rate Screening tenants and the one software that systematizes your propertyAnd 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 FREEMeet Other Investors At a BiggerPockets MeetupGet Easy Property Management with RentRediHow to House Hack By Renting-By-The-RoomConnect with Danielle:Danielle's BiggerPockets ProfileDanielle's EmailDanielle's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-287Interested 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

Using your real estate business to fund your DREAM vacation—with all or most expenses paid!? As a real estate investor, handling large amounts of money for materials, rehabs, and other expenses has its benefits. Today, we’re excited to talk about a simple but clever debt strategy that real estate rookies often overlook.Welcome back to another Rookie Reply! If you’re looking to take advantage of the many benefits of real estate investing, tune in as Tony and Ashley share how they use credit cards to travel hack their way to luxurious, five-figure vacations each year! We also talk about when you should and shouldn’t use a HELOC to help fund an investment property. Ever wondered how you should use the money from cash-out refinancing? Our hosts cover some of the limitations you may encounter. Finally, Ashley and Tony discuss their top investing analysis strategies in 2023 and how to choose the best one for you!If you want Ashley and Tony to answer a real estate question, you can 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 leverage real estate debt the right way (and fund your DREAM vacation!)When you should and shouldn’t use a HELOC for an investment propertyNew investing analysis strategies we’re using in 2023Why you should say “no” more often than “yes” when choosing an investing strategyAll about cash-out refinancing (and what you can use the money for!)How to find the best investor-friendly real estate agents in your areaAnd 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 FREEHow to Earn Free Vacations With Travel Rewards Credit CardsFind Top Rewards Credit Cards with The Points GuyLearn More About Travel Hacking with Aunt Kara on TikTokBook Mentioned in the Show:Real Estate by the Numbers by J Scot and Dave MeyerCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-286Interested 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

Buying your first long-term rental property sight unseen? What could go wrong? While alarms might be going off in your head right now, they weren’t for today’s guest. What seemed like the “perfect” rental property turned into a major headache once he arrived to check it out four months after closing.Welcome back to another episode of the Real Estate Rookie podcast! After completing multiple wholesale deals, Hudson Jump’s real estate investing journey was off to a blazing start. He figured it was time to try his hand at long-term rentals next, and it wasn’t long before he came across a potential cash cow! Unfortunately, when Hudson was finally able to check out the property he had bought, the door had been kicked in, there was trash up to the ceiling, the toilet and shower were missing, and there were squatters on the property!While this nightmare scenario would have been enough to make any real estate rookie throw in the towel, Hudson instead found a partner who was able to help him salvage the property and transform it into a rental that generates $1,400 monthly cash flow! If a bad deal has ever caused you to question your future in real estate, tune in to hear Hudson speak on the advantages of partnerships. As always, our hosts Ashley and Tony are here to help as well—offering invaluable advice on buying properties sight unseen, leveraging direct mail, and the value of building lists!In This Episode We CoverThe risks of buying a property sight unseen with existing tenantsHow bringing an experienced partner on board can help salvage a bad dealWhy wholesaling is GREAT first step for new real estate investorsThe differences between wholesaling and whole-tailingBuilding lists to weed out bad leads and keep track of potential propertiesLeveraging direct mail to find exclusive wholesale dealsAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's InstagramTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREEPropstreamMaking $71K on ONE Deal After 5 Failed House Flips and Six-Figure DebtBiggerPockets ForumsCreate Your Own Standard Operating Procedures (SOPs): Record Videos with Loom and Use Monday’s Free SOP TemplateAlex Camacho's InstagramConnect with Hudson:Hudson's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-285Interested 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

Still waiting to buy your first rental property? Everyone’s been there. It can be nerve-racking not knowing where to buy, what makes a “good deal,” and whether or not all your hard work will go to waste. Even investing experts like Ashley and Tony were nervous about taking their first step, which is exactly what they’ll walk through on today’s episode! If you’re a rookie sitting on the sidelines, waiting to get into real estate, this is the episode for you!Welcome back to another Rookie Reply! In this episode, we share exactly how to close an off-market deal when there’s no real estate agent involved. Ever wondered how our hosts went from real estate rookies to real estate pros? Today, they share their first deal diaries. Learn how Ashley ended up buying the first property she EVER looked at and how Tony bought his first two properties with ZERO money down. Finally, we touch on the struggles of analyzing deals when you’re just starting out, as well as choosing the right insurance policies for short-term rentals!If you want Ashley and Tony to answer a real estate question, you can 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 close an off-market deal with no real estate agent involvedKey takeaways from our hosts’ very first real estate dealsLanding your first real estate deal (with as little as NO money down!)How to analyze a property and know when you’re getting a GREAT deal!The differences between renters and homeowners insurance (and which one you need)The best ways to insure a short-term rental (STR) propertyAnd So Much More!Links from the ShowFind an AgentFind a LenderJoin the Real Estate Rookie Facebook GroupJoin BiggerPockets for FREEBiggerPockets Rental Calculator2 Long-Distance Rentals with $0 Down with Tony RobinsonDon’t Lose Your Portfolio to Lawsuits! Here’s How to Protect YourselfAsset Protection for Rookies: 7 Wealth-Saving Answers from an ExpertHow to Buy a Rental Property with NO Money OR CreditGet Competitive Insurance Options for Your Short-Term Rental: BiggerPockets, Steadily and Proper InsuranceConnect with Ashley and Tony:Ashley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-284Interested 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

Over $1 million in real estate with $0 down—at 19 years old!? After reading the book Rich Dad Poor Dad and catching the real estate “bug,” today’s guests went from broke college dropouts to real estate investors with three multifamily properties to their names in a matter of months.In this edition of the Real Estate Rookie podcast, we’re speaking with real estate duo Caleb Hommel and Chuck Sotelo. After his parents dealt him a six-month ultimatum to figure out real estate and move out, Caleb knew he needed to land a deal fast. The issue? These two friends had very little money, and at just 19 years of age, no credit history. Facing a seemingly impossible challenge, the pair went to work—calling roughly 1,000 different real estate brokers in pursuit of their big break. Finally, the right opportunity came knocking.Today, Caleb and Chuck own properties in three different Texas markets for 28 total units. If you have yet to land your first real estate deal, whether it’s because you don’t have money to invest or you haven’t found the right market, you don’t want to miss today’s episode. Tune in as we talk about how to buy real estate with no money down, how to build your buy box, and how to find the best property management companies to take care of your out-of-state assets!In This Episode We CoverHow to invest in real estate with no money down (and no credit!)The benefits of forming a partnership (and why you need an operating agreement)Dodging the traditional underwriting process through seller financingHow to find the right buy box for you and knowing what to invest inFinding, vetting, and overseeing property management companiesWhy you NEED a mentor (and how they can help you beat analysis paralysis)And So Much More!Links from the ShowFind an AgentFind a LenderAshley's InstagramTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREEMaking $90K/Year with Just ONE Rental by Combining Compassion and Cash FlowHow to Buy a Rental Property with NO Money OR Credit81 Units in 3 Years: All On-Market with NO Bank Loans w/Cody DavisBook Mentioned in This Episode:Rich Dad Poor Dad by Robert T. KiyosakiConnect with Caleb and Chuck:Caleb's BiggerPockets ProfileCaleb's InstagramChuck's InstagramCaleb and Chuck's Youtube ChannelCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-283Interested 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