Real Estate Rookie

You want to build a real estate portfolio, but you might not even own a single rental property yet! So how do you go from onlooker to investor and finally become financially free through real estate investing? Start with the end in mind! So many rookie real estate investors envision a dream life with cash-flowing rentals and little to no stress, only to realize the landlord life is a LOT different than social media makes it seem. To grow a passive real estate portfolio, you need to do something different. David Greene, host of the BiggerPockets Real Estate Podcast, knows exactly what that is.David went from cop to top-producing real estate agent, investor, broker, and host of the world’s most recognized real estate investing podcast. He knows what it feels like to have a big portfolio and all the pain points that come with it. For the rookie investors, David wants to make sure you don’t make the same mistakes he did. Scaling your portfolio incorrectly could force you into yet another job, NOT the financial independence you’re looking for.In his new book, SCALE: A Successful Agent’s Guide to Leveling Up Their Real Estate Business, David outlines EXACTLY what you must do to build a business, NOT a landlord nightmare. In this episode, he’ll give you everything you need to know about picking the right area and property, why appreciation often beats cash flow, knowing “the number” to offer, and how you can outsource your work to live the life you love!Pre-Order SCALE now, and use code “SCALE262” for 10% off at checkout!In This Episode We CoverHow David Greene went from stressed-out cop to financially-free investor How to build a business, NOT a job that will take time out of your dayWhat to look for when researching an investing area and whether cash flow markets are worth itKnowing the “efficiency” of a deal and how it can make you MUCH wealthierThe “long-term outlook” David uses when analyzing ANY real estate dealHow to use “leverage” to work less, earn more, and build a better businessWhy buying the most real estate possible IS NOT a good option for investorsAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramBankrateBiggerPocketsBiggerPockets BookstoreBluehostDave Meyer's InstagramGoBundanceGoDaddyMonday.comOn the Market PodcastThe Real Estate Rookie PodcastThe 2023 State of Real Estate Investing ReportZillowConnect with David:David's BiggerPockets ProfileDavid's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-262Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Most people would assume ‘Love is Blind’ star Nancy Rodriguez built most of her wealth after appearing on the show. But most people would be wrong. For the past seven years, Nancy has been quietly building a cash-flowing rental property portfolio, allowing her to become debt-free, go full-time into real estate, and build generational wealth for her family. She started her journey with 0% down loans, worked her way up to short-term rentals, and is now buying properties in cash across the great state of Texas.Nancy grew up with limited financial education. Money wasn’t a topic that was often discussed but witnessing her parents work hard to obtain it taught her that wealth was worth attaining. After graduating from college, she was strapped with six figures in student debt, prompting her to become a debt-free Dave Ramsey disciple. But, as she paid off her debt, the fear of leverage fell away, allowing her to pick up property number one with a 0% down payment.From there, she piled her money into properties, buying as many “ugly” homes as possible and turning them into worthwhile stays. She’s dealt with burnt interiors, squatters, and bad contractors, but nothing has stopped her from achieving the financial freedom she sought. Now in the limelight, Nancy is trying to help others do the same. So if you want to repeat Nancy’s system without going on reality TV, tune into this episode!In This Episode We CoverPaying off six figures of student debt and buying your first property with 0% downThe first-time homeowner program that requires no cash, no credit, and offers the BEST interest rates aroundHow to deal with squatters and a win-win solution that every landlord should tryBuilding your financial education and using side hustles to fund your property purchasesShort-term rental investing and using it to get high cash flow in today’s tough marketBuying rentals in cash and when it makes sense to decline debtGenerational wealth and using a small rental property portfolio to boost your family’s opportunitiesAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramAirbnbBiggerPocketsExpensifyFinance Friday: How to Start Investing After Becoming Debt-FreeFurnished FinderNACAPace Morby's InstagramReal Estate Rookie Facebook GroupThe Real Estate PodcastVrboConnect with Nancy:Nancy's InstagramNancy's TiktokNancy's Youtube ChannelCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-261Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

When can you refinance your home? How do you avoid taxes when selling a property? And is there a legal limit on when you can raise rent? Unfortunately, for most new investors, many of these questions don’t come with a straight answer. And when talking about taxes, even experienced investors like Ashley and Tony can’t give advice. So, we brought back Amanda Han, CPA and real estate investor, to provide us with the facts about tax benefits, trusts, and how to pay less when you sell a property.But before that, Ashley and Tony will share their experiences on raising rent, seasoning periods when refinancing, and why you should always talk to a lender before you buy. Many of these topics, such as taxes, refinances, and raising rents, come with pitfalls that a beginner property investor WON’T know about. So stick around because this episode could save you a TON of trouble on your next purchase, refinance, or sale!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 CoverWhen you can refinance your home and “seasoning periods” explainedWhen you’re legally allowed to raise rents and how to make adjustments to your leasePassing down rental properties and how to do so without triggering significant tax eventsRent-to-own vs. seller financing and using these strategies to avoid taxes on a saleThe “lazy” 1031 exchange and how to offset your capital gains tax with paper lossesAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramReal Estate Rookie Facebook GroupHow to (Legally) Avoid Taxes by Investing in Real EstateThe Real Estate PodcastAirbnbConnect with Amanda:Amanda's BiggerPockets ProfileAmanda's InstagramAmanda's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-260Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

When you’re ready to invest in real estate but don’t have the money readily available, that can feel like a full-stop roadblock. But there are ways around your down payment doubt. With thoughtful market research and a bit of creativity when it comes to your financing, you can gain confidence and get started.These are two of the key components of Pooja Jindal’s investing method. After her primary residence became a long-term rental property, she caught the bug and bought another property, and then another, and several more after that. Over the years, Pooja developed a system that helps her choose, evaluate, and invest with confidence and clarity.In this episode, Pooja covers everything you need to know to stop stalling and start investing. She highlights the importance of building a community, different ways to do the money math, managing rental properties from a distance, staying motivated and setting investing goals, and getting creative when traditional financing isn’t enough. Whether you’re searching for your primary residence, a second home, or an investment property for short or long-term rentals, Pooja’s advice will help kick-start your real estate journey.In This Episode We CoverHow data analysis can help you gain confidence and get startedThe importance of building a community and learning about the processWhen you may want to consider expenses before cash flowHow to get creative and come up with a down paymentWhy Pooja prioritizes long-term, generational wealth over current passive incomeUsing property management software for tenant screenings, applications, and moreAn app that can help with short-term rental data analysisAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramAirDNAAvailBiggerPocketsMLSOn The Market PodcastReal Estate Rookie Facebook GroupRedfinSeeing Greene: How to Get Around High Down Payment RequirementsThe Real Estate Rookie PodcastThe Real Estate PodcastTruliaZillowConnect with Pooja:Pooja's BiggerPockets ProfilePooja's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-259Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

You stumble across the perfect rental property, but you don’t know who owns it. So what do you do? Walk up the door and present an offer? Ask the neighbors? Or, is there a better way to do some sneaky searching that could land you the perfect off-market real estate deal? The rookies want to know, and on this Rookie Reply, we’ll get into EXACTLY how to do this, even if you’re starting without much money!We’re back for one of our last live Rookie Reply episodes! This time, we’re touching on questions about finding off-market property information, what to include in your direct mail letters, and why a home wouldn’t qualify for a mortgage. We’ll also hit on commonly asked title questions and whether or not you can buy real estate while underwater on another mortgage. So, if you’re trying to get your next deal off-market, this is the perfect episode to listen to a few times through!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 find property owner information for free and skip tracing services to tryWhy you should NEVER put your offer on a direct mail letterWhy a home won’t qualify for a mortgage and what to do if you can’t get fundingTitle insurance and whether or not it’s really necessary when buying a rental propertyWhy you ALWAYS need a property inspection when purchasing a new homeUnderwater mortgages and whether or not you can buy property if you have oneAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPocketsBiggerPockets ProReal Estate Rookie Facebook GroupBiggerPockets ForumsBiggerPockets EventsInveloPropStreamWhitepagesBret Daniels' Youtube ChannelMax Maxwell's Youtube ChannelNate Robbins' InstagramConnect 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-258Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

The “Rookie to Real Estate Investor in 90 Days” series is back, and we’re checking in with three mentees as they go from newbies to high-net-worth through real estate! Our mentees have been busy over the past couple of weeks, so Ashley and Tony dropped in on them to see how their rental property progress was going. They touch on how to make a lowball offer, pushing past the fear of getting an offer accepted, where to find motivated sellers, short-term rental markets, and seller financing Q&As.First up, Brandon joins us as the newest real estate rookie on the show. He’s yet to get his first deal done and is still looking to buy a property, but he’s finding that the price isn’t matching his profits. Ashley and Tony walk Brandon through how to make a lowball offer and why you should always submit a price that works for your numbers. Next, Lawrence shares how he’s been on the hunt for a seller-financed deal and is looking into new ways to find motivated sellers more likely to sell at a discount or with flexible terms.Finally, we hear from Melanie, who had a bit of property panic as she searched for more short-term rental markets to add to her list. After some research, she’s settled on a solid one and is currently looking for properties to make offers on. Her only question is how and why she should go for seller financing. Ashley and Tony give her all the details you’d need before going into a direct deal with the seller.In This Episode We CoverHow to make a lowball offer and why your price point should always reflect your profitsWhat to do when two offers get accepted (and how to fund both deals)Seller financing 101 and why (and why not) it’s worth pursuing for an investorHow to find motivated sellers in your market by looking through the MLSWhy you should ALWAYS send in offers (even if they seem unrealistic)Short-term rental markets and how to measure lead time when looking for dealsPromissory notes, how they work, and risks/benefits of signing one with a sellerAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramAirbnbAirDNABiggerPockets CalculatorBiggerPockets ForumsGoogle DriveLandWatchMLSPropStreamPriceLabsRabbuReal Estate Rookie Facebook GroupRookie to Real Estate Investor in 90 Days: LIVE Mentorship CallsZillow Connect with Brandon, Lawrence and Melanie:Brandon's BiggerPockets ProfileBrandon's InstagramLawrence's BiggerPockets ProfileLawrence's InstagramMelanie's BiggerPockets ProfileMelanie's LinkedInCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-257Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Escaping the rat race at 26 isn’t easy, but Isaac Lane, Arizona-based investor and rookie landlord, is doing it through out-of-state investing! Isaac started investing only a couple of years ago, but he’s been scaling quickly as he purchased five rentals in his first year of investing alone. Now, he balances his time between working his day job as an engineer for a commercial real estate firm and managing his properties that are multiple states away!Welcome back to another Rookie Reply, where Isaac is helping us answer some common property management questions. He gives advice on how to start investing out of state and where to begin building your real estate team. And for those who still haven’t done their first deal yet, Isaac talks about property management, maintenance requests, inherited tenants, smart devices, landlord insurance, and why you ALWAYS change your locks during a tenant turnover.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 start escaping the rat race through real estate investing (even at a young age)Long-distance real estate investing and the team you need to succeed from afarHow property managers handle maintenance and why you should ask for pictures on every repairWhat to do when you inherit tenants and whether or not they should re-apply for your rentalLandlord vs. homeowners insurance and why tenants should always have a renter’s policyWhen to change locks on a unit and the big key-code mistake Tony made on his short-term rentalAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramBiggerPockets ProReal Estate Rookie Facebook GroupBiggerPockets BootcampsBiggerPockets ForumsRentRediBuilduimAppfolioLandlordLocksConnect with Isaac:Isaac's BiggerPockets ProfileIsaac's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-256Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Real estate expert Amanda Han explains how investors can legally avoid taxes through real estate investments. She discusses top tax deductions, REPS, finding a tax advisor, and strategies to minimize tax liabilities. Learn how to maximize tax benefits, track expenses, and navigate trust structures in real estate investments.

Need to know whether flipping vs. renting makes more sense for your market? Don’t know if you can put offers on multiple houses simultaneously? Itching to hear how your flipping profits will affect your financeability on your next property? We’ve got time-tested real estate experts here to help you out! As always, Ashley and Tony are here to host this week’s Rookie Reply, but we’re also joined by Jake Kain, Arizona investor and agent who left the W2 life to start building a rental property and live in flip empire!Jake lends a helping hand in answering this week’s questions but also shares his own story about following your fire, starting a community, and how to become the “quarterback” of any real estate meetup. He’s expanded his network at lightning speed, allowing him to grow his portfolio to five units, all while flipping his own primary residences along the way. Jake helps answer questions about making offers on multiple houses, flipping vs. renting, how your DTI (debt-to-income ratio) could be impacted when house flipping, and where to find general contractors who will show up on time!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 CoverStarting your own real estate meetup and how it makes you the most popular person in the roomLeaving your nine-to-five to invest in real estate and becoming a real estate agentDebt-to-income ratios and whether or not selling a fixer-upper could help or hurt yoursThe art of making offers on multiple houses and what to do if they all acceptFlipping vs. renting and why different real estate markets require different strategiesHow to find contractors for home renovations and why the quickest workers are rarely the bestAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramBiggerPocketsReal Estate Rookie Facebook GroupBiggerPockets ForumsBiggerPockets BootcampAlpha Geek CapitalFacebook GroupsConnect with Jake:Jake's BiggerPockets ProfileJake's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-254Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Personal finance is what most twenty-something-year-olds overlook. Why invest, save, or cut back spending when you finally have the money that a college degree or diploma promised you? For those who have just started working, spending all your hard-earned money on a bigger apartment, a nicer car, or a luxurious trip can be enticing. But, you could also be using your paychecks to multiply your wealth, set yourself up for financial freedom, and lock in early retirement while most are focused on barely paying their bills.This personal finance-first attitude is what Malia Gudenkauf adopted early on. After attending basic personal finance classes, she realized the disservice many young people did to themselves. So, Malia started developing financial literacy skills, from focusing on becoming debt-free to later investing in passive income streams like real estate. Thankfully, her sister, Grace (you can hear her episode here), was just starting as a landlord and needed a partner she later found in Malia.In this episode, Malia details everything you want to know to get your finances in order, how to avoid getting caught in analysis paralysis, reverse engineering your income goals when buying a rental property, and advice on how and who to form partnerships with. Whether in high school, college, the working world, or close to traditional retirement age, the advice Malia gives is crucial if you want to start your real estate investing journey.In This Episode We CoverBuilding a solid financial foundation and the basic personal finance steps anyone can followHow to “reverse engineer” your goals and buy the properties that fit them bestSmall multifamily investing and how to purchase multiple doors at onceReal estate partnerships and tips for finding a partner who will help you grow without causing your headachesReal estate vs. stocks and why the passivity of rental properties is often overstatedDefeating analysis paralysis and how leveraging partnerships gets you past rental property roadblocksAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramBiggerPockets CalculatorBiggerPockets ProReal Estate Rookie Facebook GroupReal Estate Rookie PodcastReal Estate Rookie Youtube ChannelThe BiggerPockets Money PodcastBiggerPockets ForumsUsing Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace GudenkaufSemi-Retired at 30 Thanks to One Year’s Worth of Real Estate InvestingConnect with Malia:Malia's BiggerPockets ProfileMalia's InstagramMalia's TiktokMalia's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-253Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices