Real Estate Rookie BiggerPockets

You’re working hard to build generational wealth. But have you thought about a succession plan for your growing real estate portfolio? Today, we’re going to show you several ways to create a better life for your children while reinforcing the values of hard work, sacrifice, and entrepreneurship!
 
Welcome back to another Rookie Reply! Want to get more Airbnb bookings? In today’s episode, we’ll show you how to choose short-term rental amenities that will improve your bottom line. We also dive into seller financing and how to make your lender whole if you need to sell the property. We even discuss a unique type of real estate business that allows you to make a huge profit without owning any property. Finally, should you ever buy rental property if it won’t cash flow on day one? Stay tuned to find out!

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
How to create generational wealth through real estate and pass it down to your children
A “unique” real estate business that lets you make money without owning rentals
How to choose amenities that will help you get MORE Airbnb bookings
Whether you should ever buy a rental property that won’t cash flow right away
Seller financing explained and how to make your lender whole if you sell a property
And So Much More!

(00:00) Intro
(00:44) Passing Down Generational Wealth
(10:05) Choosing Airbnb Amenities
(15:28) Seller Financing 101
(19:33) Making Money Without Rentals
(26:49) Does It NEED to Cash Flow?
(32:42) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-425
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If you want higher rents, more cash flow, and fewer hiccups, you DON’T need to buy more rental properties. You need better systems and processes. By implementing tactics, strategies, and procedures he learned from the military, today’s guest has achieved enormous success in his real estate business and is going to show YOU how to do the same!

Welcome back to the Real Estate Rookie podcast! Angel Garcia has a modest real estate portfolio of five properties and is in no hurry to buy more. Meanwhile, he has managed to optimize each one of his units for the highest possible rent, cash flow, and appreciation. His secret? Taking the knowledge he has learned as a lieutenant colonel in the U.S. Army and applying it to real estate investing. With standards and protocols for every scenario and a team that is always dialed in, Angel’s business runs on autopilot!

Whether you’re still trying to pin down your investing strategy or looking to stabilize your portfolio with better systems, you don’t want to miss out on this episode! Angel equips you with all of the know-how, tools, and resources you might need to get the most out of your portfolio, regardless of how many rentals you own. Apply Angel’s five “tactical” tips and watch your business take off!

In This Episode We Cover
How to improve your real estate portfolio for higher rents and better cash flow
The one thing you MUST do before buying more rental properties
“Battle drills,” “battle rhythms,” and other “tactical” tips for running your business
Must-have systems and processes for out-of-state investing
How to create effective standard operating procedures (SOPs) for your business
And So Much More!

(00:00) Intro
(00:57) Stabilizing His Portfolio
(08:19) Must-Have Systems & Processes
(18:00) “Battle Drills” & PACE Plans
(27:50) “Battle Rhythms” & SOPs 
(42:26) Executing the Mission!
(46:20) Connect with Angel!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-424
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You DON’T need a ton of money to find and fund real estate deals. Despite earning just $15,000 per year, today’s guest found the perfect property for him and scrounged the money to close. If you’re willing to learn, network, and put yourself out there, you can do the same!
 
Todd Fullerlove Jr. had recently graduated college, gotten married, and welcomed his first child when the reality of starting a family hit him like a ton of bricks. Living paycheck to paycheck, his little family was forced to move in with his mom. Todd knew something had to change and decided to give real estate investing a try. The only problem? He had no money! Fortunately, Todd had learned that you don’t need to be sitting on a pile of cash to get started. So, Todd did what every smart investor does—he found the deal first! From there, he built relationships and raised capital. Just by taking action, Todd has completed five deals in five years!
 
In this episode, Todd will show you how to find and fund off-market deals through the power of private money. You’ll also get a full breakdown of the short sale process, from working with banks to navigating home appraisals and broker price opinions (BPOs). Stick around until the end to hear about the loan Todd used to buy his first rental property with low money down!

In This Episode We Cover
How Todd went from making $15,000 per year to landing five real estate deals
How to get 100% funding for your deals through the power of private money
Short sales explained and why banks are motivated to work with you
What you NEED to know before tackling DIY home renovation projects
The BIG difference between a home appraisal and a broker price opinion (BPO)
Buying rental properties with low money down using USDA loans
And So Much More!

(00:00) Intro
(01:02) Making $15K/Year?!
(07:36) Finding His First Deal
(13:30) How to Find Private Money
(22:10) Structuring a Private Money Deal
(26:40) DIY Home Renovations
(32:49) Buying Rentals & Todd’s Portfolio
(39:45) Connect with Todd!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-423
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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You have home renovations in the pipeline…but who’s going to manage them? Do you need the expertise of a general contractor, or can you manage tradespeople yourself? With so much at stake, including your budget and timeline, we’re here to help you make the right choice!
 
Welcome back to another Rookie Reply! In today’s episode, we’re bringing you expert tips to help with your renovations, from hiring general contractors to structuring agreements and more. We also talk about what to do when you’ve got around $100,000. Between house hacking, flipping houses, the BRRRR method, and other tactics, the sheer number of options can seem overwhelming. But not to worry—we’ll point you in the right direction! Feel like it’s too late to invest? We’ve got some expert investing strategies to share, even for a late starter. Finally, we discuss some creative ways to buy rental properties, including seller financing, DSCR loans, and more!

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
Hiring a general contractor versus self-managing your home renovations
How to choose your investing strategy (for new investors and late starters!)
Three types of general contractors (and which one to hire for YOUR project)
How to structure a general contractor agreement (and what to include)
Creative ways to buy rental properties with a high debt-to-income (DTI) ratio
The advantages of seller financing and DSCR loans over conventional loans
And So Much More!

(00:00) Intro
(00:41) How to Invest $100K
(07:14) Hiring General Contractors vs. Self-Managing
(16:34) General Contracting Agreements
(22:39) Is It Ever TOO Late to Invest?
(29:06) Investing with a High DTI Ratio
(36:45) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-422
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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A rental property that doesn’t cash flow can be a nightmare for new investors. But when the numbers no longer work, remember that not all is lost. Pivoting to another investing strategy can help save your property and get you right back in the green!
 
Welcome back to the Real Estate Rookie podcast! Investor Kayley George had already built a small portfolio when she stumbled across an old, colonial-style home on the multiple listings service (MLS). With big plans to convert it into a fourplex, Kayley bought the property at a huge discount and got right to work—teeing up a hard money lender and kicking off renovations—only to uncover several MAJOR issues with the house. Fortunately, tuning into a previous Rookie episode helped her find another strategy and SAVE the “misfit” property. Today, this unique house brings in over $7,000 each month!
 
Not sure what to do with your rental? In this episode, you’ll learn about a business model that allows you to not only make a huge difference in your community but also boost your monthly cash flow—sober living. Along the way, Kayley will show you how to get bank financing for a sober living house, partner with nonprofits, find a property manager, screen tenants, and more!

In This Episode We Cover
Boosting your cash flow and helping others with THIS business model
The power of partnering with nonprofits for property management
How to properly source and screen tenants for a sober living home
Setting expectations for tenants (and what to include in your lease agreements)
Common mistakes and financing challenges you’ll face with sober living
And So Much More!

(00:00) Intro
(01:03) Doubling Her Cash Flow?!
(09:19) Sober Living 101
(17:30) Partnering with Nonprofits
(23:57) How to Screen Tenants
(30:20) Expectations & Lessons Learned
(35:21) TOUGH Financing Challenges

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-421
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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Most real estate investors wait to save significant down payments on every property to grow their portfolios. But twenty-four-year-old Greyden Piechnick didn’t have time to wait. He knew creative financing was the only way. Troubled by his father’s serious health woes while still a high school senior, Greyden became extremely motivated to find financial freedom to spend quality time with his loved ones, and multifamily investing was the fastest way to reach this goal.

Greyden delivered pizzas, worked twelve-hour factory shifts, and lived at home to save $20,000, his first down payment on a duplex in 2021. Using the BiggerPockets podcasts and Facebook groups to level up his investing knowledge, he later closed on a nine-unit building using negotiating finesse and seller financing. Despite some BIG issues, Greyden’s efforts have yielded serious results with sizable cash flow at both properties! 

Greyden’s real estate journey illustrates the power of creative financing and how anyone, starting from ANY point, can invest! Through hard work, he’s crafted a lifestyle that fits his vision of what’s truly important. If you don’t want to wait another second to get on track to financial freedom, follow in Greyden’s footsteps! 

In This Episode We Cover
How to start investing in real estate at a young age, even with NO experience and little money 
The power of creative financing and using it to buy bigger, better properties 
One expensive lesson Greyden had to learn that YOU should avoid at all costs
How to negotiate seller financing terms that are a win-win for you AND the seller 
Funding your down payments with private money (and how to find private money lenders!)
And So Much More!

(00:00) Intro
(01:03) A Huge Wake-Up Call
(02:29) Delivering Pizzas and Factory Shifts
(05:51) Buying the First Rental Property
(08:30) 9-Unit Seller Finance Deal!
(15:30) Negotiating the Price and Down
(22:59) Finding Private Money
(24:19) Real Estate Negotiation Tips
(27:14) ash Flow Numbers!
(28:13) Expensive Lessons Learned
(31:02) Self-Managing vs. Property Management
(33:57) What's Next for Greyden?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-420
Interested 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