Real Estate Rookie

What if you knew you could be fresh out of college and already owning property? Why wait for a “stable career” to start building wealth when you can dive into real estate investing, whether that be in or out-of-state? Would you start looking into investing earlier if you knew it was without age limitation?Today’s guest Karina Mejia, a 24-year-old investor, goes over her house hacking journey that helped her go from a server to a landlord. From managing tenants to investing in out-of-state properties, Karina walks through the mindset of investing from a very early age, without the emotional support of those around her.We touch on topics like house hacking, the BRRRR strategy, investing with a romantic partner, out-of-state investing, and financing your first deal. If you’re a first-time investor or college student, this episode is perfect for you.In This Episode We CoverWhat to do with an unruly tenant while house hacking How to invest with a romantic partner to ensure asset protection for the both of youInvesting fresh out of college even if you have no experience in real estate Successfully investing without the support of those around youHow to build a lease for your house hacks so tenants have a positive experienceFinding the best out-of-state market for your investing strategyHow to passively invest and outsource work to maximize time valueAnd So Much More!Links from the ShowReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie FaceBook GroupRookie Podcast 125: Using OnlyFans to Fund Ownership in Her First BRRRR w/ Brin AmberleeBiggerPockets PodcastBiggerPockets ForumsExperianMicrosoft ExcelMLSCheck the full show notes here: https://www.biggerpockets.com/rookie133 Learn more about your ad choices. Visit megaphone.fm/adchoices

We often hear entrepreneurs talk about how they want to “be the best” in their field. It’s the same with many real estate investors. They want to be the best wholesaler, flipper, short-term rental host, or landlord. But, does “being the best” really matter much to your customer if they can’t tell the difference between you and your competition? Probably not.Mike Michalowicz, author of Profit First, is on the show today to discuss his new book, Get Different, and why so many entrepreneurs and real estate investors have marketing all wrong. If you’ve ever tried direct mail, cold calling, or door knocking, you know the sting of quick rejection from a potential seller. Why do they reject so quickly? Because you sound just like every other real estate marketer trying to get to them.If you’re looking to entice new partners, private lenders, tenants, employees, or sellers, you need to start marketing differently. This is possible through Mike’s “D.A.D Framework” that highlights the three most important factors of marketing successfully to a prospect.In This Episode We CoverWhy real estate investors need marketing more than they thinkFinding your competitive advantage and using it to outsmart other investorsWhy having a high-referral rate doesn’t mean you're succeeding at marketingWho, what, and ‘win’ to target and market to partners, private lenders, and sellersThe “D.A.D Framework” and how you can capitalize on it to score leadsAsking customers “what am I doing right” and making it a crucial part of your brandAnd So Much More!Links from the ShowReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie FaceBook GroupZillowFacebookGeek SquadCheck the full show notes here: https://www.biggerpockets.com/rookie132 Learn more about your ad choices. Visit megaphone.fm/adchoices

The more “traditional path” encourages a lot of waiting: waiting to get into the right school, waiting to get the right degree, the right internship, and the right job, but what about the right now? As every current and aspiring entrepreneur knows, time is money so capitalizing on the right now is essential. How do you do that? Real estate investing!Today’s guest, Rachel Morrow, knew the importance of capitalizing on the right now. At merely 20 years old she was on her way to med school when she realized she wanted to start building wealth. During her warehouse shifts, she began listening to real estate podcasts and recognized real estate was not only something she wanted to do but something she could do. This led to a big transition period in her life from the path she had always known to the path less traveled, but once she made that mindset shift, that was it.The change didn’t happen instantaneously. She had to completely start anew and work towards her goals which at one point meant working 60 hours a week for a year to get pre-approved for a loan. Her drive and persistence allowed her to close on 4 units with hopes of closing on more single-family homes in the future. We touch on topics like creating value, breaking from the “traditional” path, self-managing a house hack, finding a mentor, and being a young investor.In This Episode We CoverBreaking from the “traditional” path and finding what best suits youBuilding wealth without prior experience in real estateHow to successfully self-manage a house hack Using your youth as an advantage when investing in real estateGetting pre-approved for a loan without high income or long work experienceHow to find the right mentor (especially as a newbie)And So Much More!Links from the ShowReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie FaceBook GroupSteve Rozenberg EventsThe Real Estate GuysReal Estate Rookie PodcastGraham Stephan's Youtube ChannelMLSZillowBrandon TurnerRentrediRookie Podcast 102: $10M Profit On Her First Deal?! It’s Possible with Campground InvestingApartmentsBiggerPockets ForumsCheck the full show notes here: https://www.biggerpockets.com/rookie131 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s question comes from Rob on the Real Estate Rookie Facebook Group. Rob is asking: How do I make sure a wholesaler that is sending me deals is not a scam?With wholesaling, as with any other sector of real estate, you’re always going to have your good and bad actors. Many wholesalers are running professional businesses, but some are simply inexperienced, while others have malicious intent.Here are some suggestions on weeding out wholesalers:Have your attorney look over the assignment contract to ensure it’s legalIf a wholesaler ever asks you to send funds directly to them, they’re probably not legitKnow your numbers, so any suspiciously good (or bad) deals can be written offContact wholesalers on your own so you can do due diligence upfront And more in the episode…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).Check the full show notes here: http://www.biggerpockets.com/rookie130 Learn more about your ad choices. Visit megaphone.fm/adchoices

What if you treated the lowest point in your life as a beginning instead of an end? What if you were told real estate investing could be the second chance you’re looking for? Why give up when you could level up?Today’s guest, Jason Peterson, took back control of his life by doing exactly that. Instead of giving into adversity and strife, Jason found a way to turn his life around, through real estate investing. After eight years of incarceration, Jason went from a zero credit score to buying his first property a year and a half after his release. Now, he has acquired five properties and is on the path to becoming financially free. He did all this with the help of his mentor, support from his loved ones, and the education he received in a sandwich shop. So, what’s stopping you?We touch on topics like overcoming adversity, finding a mentor, seller credits, building credit, and how to invest with little capital. If you’re at a breaking point or need the motivation to keep going in the real estate investing game, this episode is perfect for you! In This Episode We CoverOvercoming adversity and not letting your past define your futureInvesting and buying properties with little capital or creditHow the use of a mentor can help elevate your knowledgeThe risk involved in house hacking or investing and why it’s ultimately worth itThe use of seller credits and how to get creative with your financingHow to build the credit you need to invest (even if you’re starting from zero!)The time-tested buy and hold method and its advantages for rookie investorsAnd So Much More!Links from the ShowReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie FaceBook GroupRookie Podcast 109: From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” StrategyBiggerPockets PodcastReal Estate Rookie PodcastMLSCraigslistBiggerPocketsRentrediQuickBooksCheck the full show notes here: https://www.biggerpockets.com/rookie129 Learn more about your ad choices. Visit megaphone.fm/adchoices

Ashley and Tony have been on a tear this year, buying up more homes than ever before. They’ve also been branching out into bigger commercial deals, like RV parks, campgrounds, hotels, motels, and more. While every real estate rookie knows the thrill of finding a new deal, many don’t understand the struggles that go with it.Today, Ashley and Tony walk through the biggest hurdles they’ve been facing when trying to chase bigger, better deals. One of the biggest struggles when getting into a larger real estate class is financing. You’ll hear how the hosts individually dealt with difficult financing challenges, from subject to financing to raising money and syndicating.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). Links from the ShowReal Estate Rookie Rookie Facebook GroupReal Estate Rookie Youtube ChannelVrboAirbnbBiggerPocketsBiggerPockets Podcast 527: 300 Doors, 100% Creative Financing with Pace MorbyCheck the full show notes here: https://www.biggerpockets.com/rookie128 Learn more about your ad choices. Visit megaphone.fm/adchoices

Military members in the real estate community love to preach about how great the VA loans are for financing primary residences. They also love the fact that these primary residences can be turned into rentals, quite easily, when the military decides to station you elsewhere. This is exactly how Angel Garcia got his start; accidentally investing in real estate, all while stationed overseas.Angel bought his first house as a way to ensure financial security for his wife and daughter, but when he was re-stationed, he decided to give landlording a go. He bought another primary residence, but once again, was forced to move, leaving him with two rental properties. He started to notice the cash flow coming in, and with some help from David Green’s Book Long-Distance Real Estate Investing, he made the jump to invest out-of-state.He made an offer on the perfect property, a $55,000 duplex, but when his inspector wouldn’t even enter the house, he knew he may have made a mistake. This home had $40,000 in foundation damage that needed to be repaired, turning his small investment into a cash-heavy burden. Through perseverance and the ability to learn from past mistakes, Angel was able to make this rental cash flow a respectable amount and it allowed him to get even further along the path to financial freedom.In This Episode We CoverOpening yourself up to investing, even if you were raised without an investor’s mentalityUsing rental property investing as a way to secure generational wealth for your familyUtilizing VA loans to get 0% down financing on your primary residenceWhy you need to be careful you don’t talk yourself out of a dealWhy you should always “do something” even if you can’t buy a property yetRecovering from a $40,000 surprise when rehabbing a property How to help those around you even if they don’t seem interested in learningAnd So Much More!Links from the ShowReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie FaceBook GroupBiggerPockets PodcastBrandon TurnerJoshua DorkinYoutubeDavid GreeneZillowRealtorBiggerPockets CalculatorBiggerPockets ForumsCheck the full show notes here: https://www.biggerpockets.com/rookie127 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week is less of a Rookie Reply, and more of a “Rookie Ramble” as Ashley likes to call it, as Tony and Ashley ask each other questions about their road to full-time investor status. They talk about first jobs, best degrees for real estate investing, the industries they chose to go into after college, and the skills they wish they had learned earlier.Both Tony and Ashley didn’t have the end goal of investing in real estate upon graduation, but they made smart choices in their W2 careers that allowed them to go full-time when the opportunity presented itself. If you’re young or even just starting out on this real estate journey, ask yourself, “what skills do I need to develop to succeed at this?”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).Links from the ShowReal Estate Rookie Rookie Facebook GroupReal Estate Rookie Youtube ChannelBiggerPockets PodcastRookie Podcast 118: Stop Scrolling, Start Posting: Social Media for Real Estate InvestorsBiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash ComingCheck the full show notes here: https://www.biggerpockets.com/rookie126 Learn more about your ad choices. Visit megaphone.fm/adchoices

You could say that Brin Amberlee isn’t a traditional real estate investor. She doesn’t have tons of experience with property management, construction, or investing, but she does have the will to succeed. After buying her primary residence in Las Vegas, Brin was prompted by friends to start listening to The BiggerPockets Podcast, where she learned about the mind-blowing BRRRR strategy. Brin's funding source for the deal? Her OnlyFans business!Hailing from Columbus, Ohio, she knew that investing in her hometown would be a perfect place to practice her first BRRRR, turning an old house into an instagramable short-term rental. With help from her father, she is personally taking the time to demo, rehab, and design this property, top to bottom.Brin touches on everything from finding an investor-friendly agent, to viewing properties, analyzing deals, getting financing, growing your personal brand, and more. She has some big plans to buy even more short-term rentals after this first BRRRR, and we doubt we won’t see her back on The Real Estate Rookie podcast very soon, with a lot more units to her name! In This Episode We CoverResisting lifestyle creep so you can use extra money to investWhy your first BRRRR doesn’t need to be perfectSurrounding yourself with those who achieve greatness and distancing from those who don’tVacation home mortgages vs. conventional mortgages on short-term rentalsBuilding your brand on social media and beyondThe importance of keeping healthy reserves in case a rehab goes over budgetAnd So Much More!Links from the ShowReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie FaceBook GroupMLSAirbnbBiggerPocketsRookie Podcast 123: ‘Building’ Wealth as a 24-Year-Old with 12 New Construction ProjectsOnlyFansGrant CardoneBiggerPockets ForumsZillowBiggerPockets CalculatorInstagramTiktokBiggerPockets Rent EstimatorInvestor Girl BrittCheck the full show notes here: https://www.biggerpockets.com/rookie125 Learn more about your ad choices. Visit megaphone.fm/adchoices

We’d all like to imagine that Ashley Kehr and Tony Robinson are perfect investors. They do perfect deals, have a perfect team, and everything runs smoothly in their lives. While they are two phenomenal investors, they still face the challenges that most entrepreneurs and real estate investors also face off-camera.From shiny object syndrome to letting go of the entrepreneurial reigns, Tony and Ashley squeeze in a lot into this Rookie Reply. If you feel like you’ve been getting bored on your journey or simply are too anxious to take the next step, remember that Tony and Ashley have felt the same way.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).Links from the ShowReal Estate Rookie Rookie Facebook GroupReal Estate Rookie Youtube ChannelAirbnbAlpha Geek CapitalBiggerPockets Rookie BootcampBiggerPockets Rookie Episode 125Check the full show notes here: https://www.biggerpockets.com/rookie124 Learn more about your ad choices. Visit megaphone.fm/adchoices